Okeanis Eco Tankers Corp.

Welcome to OET's second quarter 2026 financial results presentation. We will begin shortly. Aristidis Alafouzos, CEO, and Iraklis Sbarounis, CFO of Okeanis Eco Tankers, will take you through the presentation. They will be pleased to address any questions raised at the end of the call. Matters that are forward-looking in nature will be discussed, and actual results may differ from the expectations reflected in such forward-looking statements. Please read through the relevant disclaimer on slide 2. I would like to advise you that this session is being recorded. Aristidis will begin the presentation now.

Thank you for taking the time to join our Q2 2026 call. Q2 was the strongest quarter in our history and the first half of 2026 was also the strongest six months period since our inception. Adjusted EPS was $5.91 for the quarter and $8.28 for the first half of the year. Iraklis will take you through the financial results in detail shortly. I want to thank the whole OET team as well as Kiklades for amazing work this quarter, which allowed us to achieve these results. During the period, we also completed the delivery of the four Suezmax vessels acquired through our two equity raises. With Nisos Tigani delivered in May and Nisos Vus in July, our 18 vessel fleet is now fully delivered. The second half of this year has similarly fantastic prospects, and the team here is focused on continuing to deliver. I will now hand over to Iraklis.

Thank you, Aristidis. I'm pleased to go through our second quarter earnings, a quarter that has been a record in our history, starting with slide four. We achieved fleet-wide time-chartered equivalent of about $181,000 per vessel per day. That's $214,000 per day on our spot and $188,000 on operating DXCC days and $175,000 on our serious max operating days, all being spots. We report adjusted EBITDA of $252 million, adjusted net profit of $231 million, and adjusted EPS of $5.91. Our board declared the 17th consecutive quarterly dividend of $5.25 per share. This represents almost 90% of our reported and adjusted net income. This is by far the highest quarterly dividend amount since the company's inception and equals the total dividends paid over the previous five quarters together. Including this one, over the last four quarters, we have distributed $9.55 per share, or 90% of our reported net income for the period. Since our last update in May, we have taken delivery of our two remaining Suezmax resale acquisitions, the Nisus Degane and Nisus Wish. Moving on to slide five. Since our IPO in Oslo, we have distributed approximately three and a half times our initial market cap with over $780 million paid in dividends. Since we have had a fully delivered fleet in 2022, we have paid out 90% of our reported net income, clearly demonstrating our commitment to distributing value to our shareholders. On slide six, we show the detail of our income statement for the quarter and the first half of the year. TC revenue for the first six months stood at over $400 million, EBITDA was $362 million, and net income was about $320 million, or $8.28 per share. Moving on to slide seven and our balance sheet. At quarter end, we had $248 million of cash. That includes about $35 million earmarked for a portion of the equity for the acquisition of the initial foos, which was delivered to us a few days later in early July. Our restricted cash figures as of June 30th include an amount of approximately 17 million we have deposited on short-term under certain of our loan facilities which have the feature that reduce the interest paid providing a better return than what we would have achieved placing those funds under our time deposit rates for that amount at that time. We may roll forward such cash characterized as restricted or a different amount on a short-term basis depending on our cash flow means and applicable rates. Our balance sheet debt was $722 million, reflecting the drawdown for the acquisition of the Nisos Tigani in May. Our book leverage stands at 35%, while our market-adjusted net LTV, basis latest broker values and pro forma for the acquisitions and recent transactions, and end-of-quarter cash balance, is now below 25%. On slide eight, looking at our fleet, I'm pleased to now fully reflect the addition of our most recently acquired modern and high-spec tussles. who were delivered of the Nisos Tigani on May 29th and that of the Nisos Mfoulous on July 8th, who now have a total of 18 vessels on the water, eight modern Eco Scrabble-Fitted Suez Maxes, ten modern Eco Scrabble-Fitted Suez Maxes, and eight modern Eco Scrabble-Fitted VLCCs with an average age of only 5.6 years. As a reminder, from a CAVEX perspective, our only dry dock for 2026 is that of the NILOS 10-year survey, which is currently expected to take place in the next couple of months. Slide 9, moving on to our capital structure. With all the financings I updated you on and made now effective, the financing for the delivery of the Tigani and Vos and the refinancing of our legacy leases of the Nisos Rini and Nisos Despotikos, we have now reduced our weighted average margin to 1.47%. That's an improvement of over 200 basis points since we commenced our refinancing exercise in 2023. On slide 10, with a little over half a year passed since the delivery of the first two Suez Max resale vessels, the Nisos Piperi and Nisos Urfopoula, we wanted to take the opportunity and reflect on those transactions. We look at this from a value creation perspective, and we see three pillars that contradict it. The first, we have talked about before. We financed the acquisitions with competitive bank debt on one hand, and highly accretive equity on the other. Having done a negative placement at approximately 30% above our NAB at the time, that implied a benefit, or arbitrage in a way, against the acquisition cost of the vessels of approximately $12 million on each vessel, or $24 million on aggregate. The second pillar, and maybe the most important, the vessels, in approximately seven months, are estimated to have generated a combined free cash flow of about $43 million. This has realized, one for one, the risking of the investment. Out of approximately 104 million in equity invested in these two vessels, 52 million each, we have already got back 41% of that by trading them in this market. 25 million on the PIPERI and 18 million on the CERIFOPOL. The third, yes unrealized, but with a direct impact in our NAV and subsequently our stock price, and indicative of the opportune timing of these transactions. We bought those vessels at $97 million each, while latest asset value estimates mark them at over $120 million each. That's over 25% uplift on an enterprise value basis and over 50% uplift against our equity. All that in a little over half a year. Adding these three elements for both vessels gets to 121 million of value creation just from the Nisos Piperi and Nisos Serifopoulos. I'm very eager to update this slide in a couple of quarters when the Nisos Tigani and Nisos Pous will also have traded for a few months to reflect on the overall transaction across all four vessels. I will now turn it to Aristidis for the commercial market update.