Okeanis Eco Tankers (OET) Registration Filing summary

Company overview and business model

• Operates a modern fleet of 14 eco-friendly Suezmax and VLCC tankers focused on crude oil transport, with an average vessel age of 5.4 years and a total carrying capacity of 3.5 million dwt as of December 31, 2024.

• Vessels are equipped with fuel-efficient designs, scrubbers, and comply with ballast water regulations; fleet is managed through a mix of direct ownership and finance leases with repurchase options.

• Commercial management is handled by a wholly owned subsidiary, while technical management is outsourced to an affiliate; the company actively manages vessel deployment between spot and time charters based on market conditions.

• Incorporated in the Marshall Islands, with principal executive offices in Greece; shares are dual-listed on the NYSE (ECO) and Oslo Stock Exchange (OET).

Financial performance and metrics

• As of December 31, 2024, total capitalization was $1,056.1 million actual and $1,030.3 million as adjusted for subsequent dividend and debt payments.

• Paid a dividend of $11.3 million ($0.35 per share) on March 17, 2025, and made $15.0 million in scheduled debt repayments between December 31, 2024 and May 7, 2025.

• Shareholders' equity stood at $410.4 million actual and $399.2 million as adjusted.

Use of proceeds and capital allocation

• Will not receive any proceeds from the sale of shares by selling shareholders; all proceeds go to the selling shareholders.

• Company bears all registration and related expenses, while selling shareholders pay any underwriting or brokerage commissions.