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OKEANIS ECO TANKERS Q2 2026 EARNINGS PRESENTATION August 5 , 2026 EROS
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 2 Disclaimer This presentation (this “Presentation”) has been prepared by Okeanis Eco Tankers Corp. (“OET or the “Company”). This Presentation does not constitute or form part of, and should not be construed as, an offer to sell or an invitation, solicitation, or inducement to purchase or subscribe for securities with respect to any transaction, nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This Presentation does not constitute either advice or a recommendation regarding any securities. The financial information and data contained in this Presentation is unaudited. This communication includes certain numerical measures (including estimated financial information and presented as pro-forma financial measures) that are not derived in accordance with generally accepted accounting principles (“GAAP”), and which may be deemed to be non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities & Exchange Commission (“SEC”). The Company believes that the presentation of these non-GAAP financial measures serves to enhance the understanding of the financial performance of the Company. However, these non-GAAP financial measures should be considered in addition to and not as substitutes for, or superior to, financial measures of financial performance prepared in accordance with GAAP. Please refer to the last quarter’s earnings press release for a discussion of these non-GAAP financial measures and a reconciliation of these measures to the most comparable GAAP measures. Recipients of this Presentation are not to construe its contents, or any prior or subsequent communications from or with the Company or its representatives as financial, investment, legal, tax, business or other professional advice. In addition, this Presentation does not purport to be all-inclusive or to contain all of the information that may be required to make a full analysis of the Company. Recipients of this Presentation should consult with their own advisers and should each make their own evaluation of the Company and of the relevance and adequacy of the information. This Presentation contains certain tables and other statistical analyses (the “Statistical Information”). Numerous assumptions were used in preparing the Statistical Information, which may not be reflected herein. Certain Statistical Information is derived from estimates and subjective judgments made by third parties. As such, no assurance can be given as to the accuracy, appropriateness or completeness of the Statistical Information as used in any particular context; nor as to whether the Statistical Information and/or the judgments and assumptions upon which they are based reflect present market conditions or future market performance. This Presentation reflects the conditions and views of the Company as of the date set out on the front page of this Presentation. This Presentation contains certain forward-looking statements. Forward- looking statements include, but are not limited to, statements regarding the Company’s management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “might”, “plan”, “possible”, “potential”, “predict”, “project”, “should”, “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward- looking. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections, and they are solely opinions and forecasts which are subject to risks, uncertainties and other factors. Actual results may differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that actual results or developments anticipated in this document will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Given these uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. Factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to: changes in shipping industry trends, including charter rates, vessel values and factors affecting vessel supply and demand; changes in seaborne and other transportation patterns; changes in the supply of or demand for oil, generally or in particular regions; climate change; increased use of electric vehicles and renewable energy; changes in the number of new buildings under construction in the tanker shipping industry; changes in the useful lives and the value of the Company’s vessels and the related impact on the Company’s compliance with loan covenants; the aging of the Company’s fleet and increases in operating costs; the Company’s ability to achieve successful utilization of its expanded fleet; changes in the Company’s ability to complete acquisitions or dispositions; risks related to the Company’s business strategy, areas of possible expansion or expected capital spending or operating expenses; changes to the Company’s financial condition and liquidity, including its ability to pay amounts that it owes and obtain additional financing to fund capital expenditures, acquisitions and other general corporate activities; changes in the availability of crew, number of off-hire days, classification survey requirements and insurance costs for the vessels in the Company’s fleet; changes in the Company’s ability to leverage the relationships and reputation in the tanker shipping industry of its managers; changes in the Company’s relationships with its contract counterparties, including the failure of any of its contract counterparties to comply with their agreements with the Company; loss of our customers, charters or vessels; damage to the Company’s vessels; potential liability from future litigation and incidents involving the Company’s vessels, including oil spills; the Company’s future operating or financial results; the Company’s ability to continue as a going concern; acts of terrorism and other hostilities; inflation; changes in global and regional economic and political conditions; risks associated with operations outside the United States; changes in governmental rules and regulations or actions taken by regulatory authorities, particularly with respect to the tanker shipping industry or the shipping industry generally; and other factors listed from time to time in the Company’s filings with the SEC, including its most recent annual report on Form 20-F. These factors could cause actual results or developments to differ materially from those expressed in any of the forward-looking statements. The Company does not provide any assurance that the assumptions underlying such forward-looking statements are free from errors, nor does the Company accept any responsibility for the future accuracy of the opinions or forward-looking statements expressed in this Presentation or the actual occurrence of the forecasted developments. No obligations are assumed to update any forward- looking statements or to conform to these forward-looking statements to actual results, whether as a result of new information, future events or otherwise, except as required by law. In light of the risks, uncertainties and assumptions, the forward-looking events discussed in this Presentation might not occur, and the Company’s actual results could differ materially from those anticipated in these forward-looking statements. The Company makes no warranty, express or implied as to the completeness or accuracy of any information in this Presentation, nor can or does it accept responsibility for errors appearing in the Presentation. Certain information contained herein has been provided by third parties and has not been independently verified, and the Company does not represent or endorse the accuracy or reliability of any such information. This Presentation is subject to revisions and amendments without notice by the Company and without obligation to notify any recipient of any such amendment.
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EXECUTIVE AND FINANCIAL UPDATE APPENDIX COMMERCIAL AND MARKET UPDATE Q2 2026 EARNINGS PRESENTATION I AUGUST 5, 2026
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 4 NOTES: 1. TCE revenue over operating days (calendar days less off-hire days). 2. Including management fees. 3. Does not include short-term trip charters. 4. EBITDA adjusted for derivatives, FX, and other non-cash items. 5. Including restricted cash. Executive Summary Okeanis Eco Tankers delivered the strongest quarterly results since inception Highlights for the quarter $181,200pd fleetwide TCE $251.8m adj. EBITDA4 $5.91 adj. EPS • Record dividend: The Board declared a 17th consecutive dividend of $5.25 per share, the highest in the Company’s history, representing 89% of reported net income. • Strong shareholder returns: Total distributions over the last four quarters reached $9.55 per share, equivalent to 90% of reported net income. • Fleet expansion: We took delivery of Nissos Tigani on May 29, followed by Nissos Vous on July 8 – the final vessel in our series of four Daehan-built Suezmax sister ships, each with a capacity of approximately 157,000 dwt. VLCC TCE1 $187,700 $49,800 $146,200 $43,900 Suezmax TCE1 $174,900 $51,400 $130,000 $45,400 Fleetwide TCE1 $181,200 $50,500 $138,100 $44,500 Fleetwide Opex2 $9,936 $9,963 $9,769 $9,600 Timecharter Coverage3 6% - 5% - TCE Revenue $268.1 $64.0 $400.4 $112.6 Adjusted EBITDA4 $251.8 $47.3 $361.9 $79.8 Adjusted Profit $230.8 $26.7 $319.7 $38.1 Adjusted EPS $5.91 $0.83 $8.28 $1.18 Total Interest Bearing Debt $722.5 $605.1 Total Cash5 $247.8 $122.5 Total Assets $1,649.3 $1,200.6 Total Equity $877.5 $573.1 Leverage 35% 46% Q2 2026 Q2 2025 6M 2026 6M 2025 COMMERCIAL PERFORMANCE USD per day BALANCE SHEET USDm INCOME STATEMENT USDm exc. EPS Q2 2026 Q4 2025
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 5 NOTE: 1. Calculation based on the annualized quarterly dividend on the day it was paid versus the stock price on the same day. Executing Our Strategic Vision Establishing OET as the leading public tanker investment platform with focus on shareholder returns Notes Record $5.25 per share dividend — the 17th consecutive distribution and equal to the total dividends paid over the previous five quarters combined Over $780m distributed since our IPO or ~3.5x of initial market cap ~14%1 average annualized dividend yield over the past seventeen quarters Since having a fully delivered fleet we have distributed on average, ~90% of our reported net income Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 7 6 5 4 3 2 1 - $/share 2022 20262023 2024 2025 120% 0.25 51% 0.59 83% 1.50 100% 1.60 91% 1.64 100% 0.60 100% 0.66 85% 1.29 89% 1.23 100% 0.45 85% 0.41 82% 0.39 84% 0.83 110% 0.75 102% 1.76 88% 2.33 89% 5.85 Dividend as % of reported net income EPS
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 6 Income Statement Summary Notes Q2 2026 delivered the strongest quarterly results in the Company’s history, demonstrating the exceptional earnings power of our fleet and operating platform. 6M 2026 also represented the strongest first-half performance since inception, with record revenue, EBITDA and profitability. TCE Revenue of $268.1m for Q2 2026 and $400.4m for 6M 2026. EBITDA of $251.8m for Q2 2026 and $361.9m for 6M 2026. Net Income of $230.3m for Q2 2026 and $318.6m for 6M 2026. Adjusted Net Income of $230.8m, or $5.91/share, for Q2 2026 and $319.7m, or $8.28/ share, for 6M 2026. Income statement summary ($m) Q2 2026 Q2 2025 6Μ 2026 6Μ 2025 TCE Revenue $268.1 $64.0 $400.4 $112.6 Vessel operating expenses (13.3) (11.5) (25.6) (22.0) Management fees (1.5) (1.1) (2.9) (2.3) General and administrative expenses (1.6) (4.0) (10.1) (8.5) EBITDA $251.8 $47.3 $361.9 $79.8 Depreciation and amortization (12.7) (10.3) (24.7) (20.6) EBIT $239.1 $36.9 $337.1 $59.2 Net interest expense (8.6) (11.2) (17.8) (22.2) Other financial income/expenses (0.2) 1.2 (0.6) 2.5 Reported Profit $230.3 $26.9 $318.6 $39.4 Reported EPS - basic & diluted $5.90 $0.84 $8.25 $1.23 Adjustments 0.5 (1.4) 1.1 (2.5) Adjusted Profit $230.8 $25.5 $319.7 $37.0 Adjusted EPS - basic & diluted $5.91 $0.79 $8.28 $1.15 Weighted average shares - basic & diluted 39.0 32.2 38.6 32.2
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 7 Balance Sheet Summary Notes Total cash1 of $247.8m Total assets of $1.65bn Total interest bearing debt of $722.5m Book leverage of 35% Total equity of $877.5m Balance Sheet Summary ($m) Q2 2026 Q4 2025 Assets Cash & cash equivalents $222.6 $116.6 Restricted cash 25.2 5.9 Vessels, net 1,193.6 922.1 Other assets 207.8 156.0 Total Assets $1,649.0 $1,200.6 Shareholders’ Equity & Liabilities Shareholders’ equity 877.5 573.1 Interest bearing debt 722.5 605.1 Other liabilities 49.3 22.5 Total Shareholders’ Equity & Liabilities $1,649.0 $1,200.6 NOTE: 1. Including restricted cash.
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 8 State of the Art Asset Base NOTE: As of August 2026. Milos, 2016, Poliegos, 2017, Kimolos, 2018, Folegandros, 2018, Nissos Sikinos, 2020, Nissos Sifnos, 2020, Nissos Piperi, 2026, Nissos Serifopoula, 2026, Nissos Tigani, 2026, Nissos Vous, 2026, Nissos Rhenia, 2019, Nissos Despotiko, 2019, Nissos Donoussa, 2019, Nissos Kythnos, 2019, Nissos Keros, 2019, Nissos Anafi, 2020, Nissos Kea, 2022, Nissos Nikouria, 2022, Suezmaxes 10x VLCCs 8x 4.1m total DWT ~5.6 years average age 100% scrubber, BWTS fitted, eco-design 18 vessels 94% spot exposure
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 9 Resilient & Balanced Capital Structure Disciplined balance sheet management with very attractive margins NOTE: 1. Based on latest broker valuations. Robust and clean balance sheet Assets Liabilities + Equity Vessels, net Cash Other assets Debt Other liabilities Shareholders’ equity <25% Net market LTV1 1,800 1,600 1,400 1,200 1,000 800 600 400 200 - $m 722 878 49 1,194 248 208 Staggered maturities from 2028 to 2035 enable a balanced distribution of our capital sourcing need in the next refinancing cycle. 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 150 125 100 75 50 25 - $m 3 vessels 69 3 vessels 87 3 vessels 65 3 vessels 117 2 vessels 57 3 vessels 84 1 vessel 20 Loan maturities Libor era margin CAS SOFR- CAS 2023/2024 refis 2025 refis 2026 Piperi Serifopoula financings Margin Q1 2026 Rhenia Despotiko refis Vous Tigani financings Current weighted average margin 400 350 300 250 200 150 100 50 - bps The impact of our refinancing strategy on our weighted average margin 322 26 348 (109) (17) (13) 209 (58) (4) 147 Balloons Purchase options
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 10 24m 43m 54m 121m Nissos Piperi & Nissos Serifopoula – A Value Creation Case Study Well-timed acquisitions, accretive financing and strong operating execution SOURCES: Company, Clarksons SIN. NOTE: 1. FCFE reflects free cashflow generated through the vessels’ current fixtures in Q3 Asset value uplift is unrealized and based on estimated asset values as of August 2026. Accretive equity raise Equity raised at ~1.3x NAV generated an estimated ~$24m combined NAV-issuance benefit. Strong operating platform ~$43m of combined FCFE generated to date, accelerating recovery of the effective equity investment. Timed acquisitions Acquired at $97m per vessel; asset value estimates now exceed $120m per vessel – implying ~$54m of combined unrealized value uplift. Combined value-creation bridge ($m) Premium to NAV benefit FCFE generated Asset value increase Total value created NISSOS PIPERI ~$64m Estimated value created Premium to NAV benefit $12m FCFE generated $25m Asset value increase $27m NISSOS SERIFOPOULA ~$57m Estimated value created Premium to NAV benefit $12m FCFE generated1 $18m Asset value increase $27m $121m1 of of value creation
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EXECUTIVE AND FINANCIAL UPDATE APPENDIX COMMERCIAL AND MARKET UPDATE Q2 2026 EARNINGS PRESENTATION I AUGUST 5, 2026
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 12 Commercial Performance – Q2 2026 Fleetwide TCE of 181,200 pd – $213,600 pd for spot VLCCs and $174,900 pd for spot Suezmaxes NOTES: 1. Reflects commercially agreed demurrage rate for a loaded vessel inside the Strait of Hormuz ("SOH") that waited to re-commence its voyage. 2. Spot days include short-term trip charters. 3. Calendar days less off-hire days. The fleet capitalized on elevated tonne- mile demand and favorable market conditions, as several vessels executed repeat voyage patterns with minimal ballast legs, yielding attractive returns. 3x vessels were employed on long-haul East voyages at premium levels. Nissos Tigani was delivered during the quarter and swiftly repositioned eastward to capitalize on exceptional market strength. Benefited from an exceptionally active Atlantic Suezmax market, as oil traders scrambled to secure cargoes, allowing vessels to secure employment with minimal waiting time. Fleet also continued to execute consecutive Cross-Med voyages, maximizing daily earnings. Near-perfect utilization once again this quarter, reflecting our competitive edge in vessel optimization. Earnings improved meaningfully versus Q1 2026 levels, nearly doubling quarter- over-quarter. Days % of Total TCE Days % of Total TCE Days % of Total TCE Timecharter 91 13% $90,000 – – – 91 6% $90,000 Spot 580 80% $213,600 755 100% $174,900 1,335 90% $191,700 SOH vessel1 54 7% $74,000 – – – 54 4% $74,000 Total2 725 100% $187,700 755 100% $174,900 1,480 100% $181,200 Calendar 728 761 1,489 Operating3 725 755 1,480 Utilization 100% 99% 99% VLCC SUEZMAX FLEETWIDE Q2 2026
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 13 Days % of Total TCE Days % of Total TCE Days % of Total TCE VLCC SUEZMAX FLEETWIDE Commercial Performance – Q3 2026 Guidance VLCC: 48% of available 3Q26 spot days fixed at $206,600 pd Suezmax: 42% of available 3Q26 spot days fixed at $133,000 pd Timecharter 9 2 13% $90,000 – – – 92 6% $90,000 Spot - fixed1 310 42% $206,600 371 42% $133,000 681 42% $166,500 Spot - unfixed2 334 45% – 517 58% – 851 52% Total 736 100% 888 100% 1,624 100% Calendar 736 913 1,649 Operating 736 888 1,624 Utilization 100% 97% 98% Amid elevated volatility, the fleet capitalized on opportunities arising from market uncertainty, as discharge positions happened to fall in the East benefiting from constrained AG capacity. 2x VLCC secured AG employment at a premium relative to prevailing market conditions. Took delivery of Nissos Vous, the final vessel in our series of 4x Suezmax newbuildings. Sustaining a significant presence in the West by fixing voyages across the Black Sea, Mediterranean, Wafr, ensuring broad exposure to the strongest markets amid geopolitical uncertainty. Summer market performance defied seasonal norms, with elevated volatility and external macro factors combining to generate compelling trading opportunities. Continue to seek for triangulation opportunities, maximizing earnings while reducing ballast. NOTES: 1. Spot days include short-term trip charters. 2. Reflect open days which have not been booked so far. Recognizing revenue (or costs) within the quarter for the unfixed days will depend on loading (or not) of the next voyage within the quarter, according to IFRS adjustments for the calculation of TCE.
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 14 Superior Commercial Performance Reaping the benefits of consistent out performance VLCC spot TCE against peers Suezmax spot TCE against peers VLCC spot performance against peers Suezmax spot performance against peers Peers Range Peers Average OET Peers Range Peers Average OET 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019 20262020 2021 2022 2023 2024 2025 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019 20262020 2021 2022 2023 2024 2025 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019 20262020 2021 2022 2023 2024 2025 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 2019 20262020 2021 2022 2023 2024 2025 250,000 200,000 150,000 100,000 50,000 - $/day OET / Peers Average OET / Peers Max 2.0 1.8 1.6 1.4 1.2 1.0 0.8 x OET / Peers Average OET / Peers Max 2.0 1.8 1.6 1.4 1.2 1.0 0.8 x OET generated ~$341m of outperformance since 4Q 2019 over the average of the peer group VLCC OET Daily Out/(Under) Performance $13,324 OET VLCC Spot Days 13,623 OET Total Out/(Under) Performance ~$182m Suezmax OET Daily Out/(Under) Performance $14,610 OET Suezmax Spot Days 10,852 OET Total Out/(Under) Performance ~$159m 250,000 200,000 150,000 100,000 50,000 - $/day SOURCE: Company filings. NOTE: Q2 2026 and Q3 2026 guidance figures based on companies that have already reported for the quarter. Outperformance based on actuals.
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 15 High Orderbook, but Not Necessarily Market-Breaking Orderbooks have reached cycle highs (VLCC 32.0%, Suezmax 29.7%), but the risk is tempered by a delivery schedule concentrated in the latter part of the decade VLCC fleet age composition1 Suezmax fleet age composition1 [ Orderbook ] 70 60 50 40 30 20 10 - 70 60 50 40 30 20 10 - % % 6% 6% 22% 22% 48% 45% 14% 11% 29% 27% 56 % 55% 20% 18% 41% 39% 61% 58% >25yrs >20yrs >15yrs >25yrs >20yrs >15yrs >25yrs >20yrs >15yrs>25yrs >20yrs >15yrs >25yrs >20yrs >15yrs >25yrs >20yrs >15yrs 2026 2028 20302026 2028 2030 orderbook 29.7%2 SOURCES: Company, Clarksons SIN. NOTES: 1. Future age composition excludes current orderbook. 2. Including ~3.3% of shuttle tankers. 11 10 9 8 7 6 5 4 3 2 1 - 11 10 9 8 7 6 5 4 3 2 1 - % % 1.6% 2.9% 7.2% 7.8% 10.5% 9.8% 3.0% 9.7% 1.3% 7.8% 2026 2027 2028 2029 2030 2026 2027 2028 2029 2030 orderbook 32.0%
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 16 Geopolitics Rules the Market Three chokepoints under simultaneous pressure; supply has fallen faster than demand; depleted inventories point to a structural restocking need SOURCES: IEA Oil Market Report (July 2026), EIA Short-Term Energy Outlook (July 2026), McQuilling Services (July 2026), Vortexa, Clarksons, Company. NOTE: Market data as of late July 2026; the geopolitical situation remains fluid and subject to rapid change. Global oil demand vs. supply (y/y change) 9 7 5 3 1 -1 -3 -5 mb/d Demand Supply Three key arteries under simultaneous pressure – Hormuz, Red Sea, Black Sea – an unprecedented concurrence of chokepoint risk Hormuz: transits recovering under the June MOU, but fragile and highly sensitive to renewed escalation Black Sea: attacks on tankers and export infrastructure disrupt crude loadings Red Sea: Threatened Houthi attacks push traffic via Suez onto Cape of Good Hope routings, adding significant tonne miles and further increasing inefficiencies IEA: 2026 supply -3.7 mb/d to 102.6 mb/d vs demand -1.0 mb/d – supply has fallen nearly 4x faster than demand 2027: supply rebounds +7.5 mb/d as Gulf output normalises and OPEC+ raises targets — enabling inventory replenishment Volumes down, distances up: Atlantic-to-Asia now ~35% of VLCC liftings vs ~22% pre-conflict (USG–China ~2.6x the AG–China distance) MEG export shortfall vs ~7.4 mb/d pipeline rerouting capacity clears only via long-haul barrels OECD and floating stocks at multi-year lows; US SPR ~395 mbbl vs >600 pre-2022; >300 mbbl of IEA emergency releases to be refilled ~1.8 mb/d of crude supply required over ~1.5 years to rebuild stocks — inventory build translates directly into tanker demand Geopolitics / Chokepoints Global Balance Tonne-Miles Inventories & Prices Stocks drew ~3.8 mb/d on average since the conflict onset — the 2027 supply rebound is the restocking opportunity 2026E 2027E 2.0 -1.0 7. 5 -3.7
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EXECUTIVE AND FINANCIAL UPDATE APPENDIX COMMERCIAL AND MARKET UPDATE Q2 2026 EARNINGS PRESENTATION I AUGUST 5, 2026
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Cash Flow Summary Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 18 CF Statement Summary ($m) Q2 2026 Q2 2025 6M 2026 6M 2025 Cash Flow from Operating Activities Net income 230.3 26.9 318.6 39.4 Total reconciliation adjustments 21.6 20.1 43.2 39.8 Total changes in working capital (61.5) (9.7) (63.0) (30.0) Net cash provided by operating activities $190.4 $37.3 $298.9 $49.3 Cash Flow from Investing Activities Investment in vessels (80.4) (1.3) (277.4) (2.0) Other investing activities 27.3 0.7 (16.8) 0.1 Net cash provided by/(used in) investing activities ($53.1) ($0.6) ($294.3) ($1.9) Cash Flow from Financing Activities Net changes in debt 38.8 (3.7) 117.0 (15.6) Dividends and capital returns (78.1) (10.3) (138.6) (21.6) Financing costs (1.1) (0.9) (1.6) (0.9) Other financing activities - - 124.4 - Net cash (used in)/provided by financing activities ($40.3) ($14.9) $101.2 ($38.1) Effects of exchange rate changes of cash held in foreign currency 0.1 0.8 0.1 1.1 Net change in cash & cash equivalents 96.9 21.9 105.8 9.3 Cash and cash equivalents at beginning of period 125.6 37.1 116.6 49.3 Cash and cash equivalents at end of period $222.6 $59.8 $222.6 $59.8
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 19SOURCE: Company. Milos L+5.62% +26 S+5.62%+0.26 387 26 S+1.75% Poliegos L+6.76% +26 S+6.76%+0.26 516 26 S+1.60% Kimolos L+2.50% +26 S+2.50%+0.26 60 26 S+1.90% Folegandros L+2.60% +26 S+2.60%+0.26 70 26 S+1.90% Nissos Sikinos L+1.96% +26 S+1.96%+0.26 11 26 S+1.85% Nissos Sifnos L+1.96% +26 S+1.96%+0.26 11 26 S+1.85% Nissos Piperi S+1.30% Nissos Serifopoula S+1.30% Nissos Vous S+1.20% Nissos Tigani S+1.20% Nissos Rhenia L+5.28% +26 S+5.28%+0.26 403 26 S+1.25% Nissos Despotiko L+5.28% +26 S+5.28%+0.26 398 26 S+1.30% Nissos Donoussa L+2.50% +26 S+2.50%+0.26 85 26 S+1.65% Nissos Kythnos L+2.50% +26 S+2.50%+0.26 110 26 S+1.40% Nissos Keros L+2.25% +26 S+2.25%+0.26 35 26 S+1.90% Nissos Anafi L+2.09% +26 S+2.09%+0.26 69 26 S+1.40% Nissos Kea L+2.45% +26 S+2.45%+0.26 110 26 S+1.35% Nissos Nikouria L+2.45% +26 S+2.45%+0.26 105 26 S+1.40% Weighted average cost of debt L+3.22% S+3.22%+0.26 S+1.47% Benefit from refinancing annualy ~$8.0m Vessel Name LIBOR Era CAS SOFR Transition Refinancing Benefit Current Introduction (SOFR+CAS) Margin Reduction CAS Elimination Improvement of 200bps across the entire fleet The Refinancing Strategy — Fully Delivered Significantly reduced financing costs and cash breakeven levels across the entire fleet
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Q2 2026 PRESENTATIONOKEANIS ECO TANKERS 20 Current Fleet List Very attractive mix of crude tanker vessels built at first class yards with super eco design & scrubber fitted NOTE: 1. As of August 2026, basis year built. No. Vessel Name Asset Type Asset Size Built Age1 Yard Ownership Scrubber Eco Design 1 Milos Suezmax 157,525 2016 10 Sungdong 100% Yes Yes 2 Poliegos Suezmax 157,525 2017 9 Sungdong 100% Yes Yes 3 Kimolos Suezmax 159,159 2018 8 JMU 100% Yes Yes 4 Folegandros Suezmax 159,221 2018 8 JMU 100% Yes Yes 5 Nissos Sikinos Suezmax 157,971 2020 6 HSHI 100% Yes Yes 6 Nissos Sifnos Suezmax 157,971 2020 6 HSHI 100% Yes Yes 7 Nissos Piperi Suezmax 157,993 2026 0 Daehan 100% Yes Yes 8 Nissos Serifopoula Suezmax 157,993 2026 0 Daehan 100% Yes Yes 9 Nissos Tigani Suezmax 157,993 2026 0 Daehan 100% Yes Yes 10 Nissos Vous Suezmax 157,993 2026 0 Daehan 100% Yes Yes 11 Nissos Rhenia VLCC 318,953 2019 7 HHI (Ulsan) 100% Yes Yes 12 Nissos Despotiko VLCC 318,953 2019 7 HHI (Ulsan) 100% Yes Yes 13 Nissos Donoussa VLCC 318,953 2019 7 HHI (Ulsan) 100% Yes Yes 14 Nissos Kythnos VLCC 318,953 2019 7 HHI (Ulsan) 100% Yes Yes 15 Nissos Keros VLCC 318,953 2019 7 HHI (Ulsan) 100% Yes Yes 16 Nissos Anafi VLCC 318,953 2020 6 HHI (Ulsan) 100% Yes Yes 17 Nissos Nikouria VLCC 299,988 2022 4 HHI (Ulsan) 100% Yes Yes 18 Nissos Kea VLCC 299,988 2022 4 HHI (Ulsan) 100% Yes Yes Aggregate 4,095,038 ~5.6
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CONTACT Iraklis Sbarounis, CFO +30 210 480 4200 ir@okeanisecotankers.com