NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange release by Okeanis Eco Tankers Corp. (OAX: OET) (the “Company”) on 14 May 2019 regarding the successful private placement (the “Private Placement”) of 1,580,000 new shares (the “Offer Shares”) in the Company for a subscription price of NOK 83 per Offer Share, equalling gross proceeds of NOK 131,140,000, corresponding to approximately USD 15 million (based on a currency exchange rate of USD/NOK 8.74).

The Company has today issued the Offer Shares, which are now eligible for trading on the Oslo Axess. Following issuance of the Offer Shares, the Company has an issued share capital of USD 32,890 divided into 32,890,000 common shares, each share with a nominal value of USD 0.001.

Fearnley Securities acts as managers in the Private Placement. Advokatfirmaet BAHR AS acts as legal advisor in connection with the Private Placement.

Contact:

John Papaioannou, CFO

jvp@okeanisecotankers.com

+30 210 4804099

Additional information about the Company can be found at: www.okeanisecotankers.com

This information is subject to disclosure under the Norwegian Securities Trading Act, Section 5-12.

This announcement is not and does not form a part of any offer for sale of any securities, and is for release, publication or distribution, directly or indirectly, in the United States, or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures. Securities may not be sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Company does not intend to register of its securities in the United States.

The distribution of this announcement into jurisdictions other than Norway may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement has not been approved by any regulatory authority.