Tsakos Energy Navigation : 4th Quarter 2020 Conference Call Presentation

Q4 & YE2020 Earnings Presentation

March 24, 2021

This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements. Such factors include those risks described from time to time in Tsakos Energy Navigation Ltd's (TEN) filings with the Securities and Exchange Commission, including, without limitation, the risks described in TEN's most recent Annual Report on Form 20-F on file with the Securities and Exchange Commission. These factors should be considered carefully and you are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date of this presentation, and TEN undertakes no duty to update this information. 2

Crisis-Resistant Growth Model Spanning Four Decades

Far East Crisis

9/11 Crisis

Credit Crisis

Meets…

COVID Crisis

8

7

6

5

Million (dwt)

4

3

2

1

0

Diversified Fleet - Secured Revenues - Market Upside

VLCCSUEZMAXAFRAMAX

25 Leontios H

26 Thomas Zafiras

COATED TANKERS
Dwt	Built	Yard	Hull	Ice Class/Other	Dwt	Built	Yard	Hull	Ice Class/Other
300,000	2017	South Korean	DH	36	Proteas	117,055	2006	South Korean	DH	1A
300,000	2016	South Korean	DH	37	Promitheas	117,055	2006	South Korean	DH	1A
158,000	2020	South Korean	DH	38	Propontis	117,055	2006	South Korean	DH	1A
158,000	2020	South Korean	DH	39	Sunrise	74,000	2016	South Korean	DH
158,000	2012	South Korean	DH	40	Sunray	74,000	2016	South Korean	DH
158,000	2011	South Korean	DH	41	World Harmony	74,200	2009	South Korean	DH
158,000	2011	South Korean	DH	42	Chantal	74,329	2009	South Korean	DH
163,216	2007	South Korean	DH	1A	43	Selini (2)	74,296	2009	South Korean	DH
158,000	2009	South Korean	DH	44	Salamina (2)	74,251	2009	South Korean	DH
158,000	2013	South Korean	DH	45	Selecao	74,296	2008	South Korean	DH
163,216	2007	South Korean	DH	1A	46	Socrates	74,327	2008	South Korean	DH
163,216	2006	South Korean	DH	1A	47	Andes	68,439	2003	Japanese	DH
163,250	2006	South Korean	DH	1A	48	Maya (2)	68,439	2003	Japanese	DH
158,000	2012	South Korean	DH	49	Inca (2)	68,439	2003	Japanese	DH
164,608	2005	South Korean	DH	1C	50	Ajax	53,095	2005	South Korean	DH	1A
164,565	2005	South Korean	DH	1C	51	Afrodite	53,082	2005	South Korean	DH	1A
115,000	2020	South Korean	DH	52	Apollon	53,149	2005	South Korean	DH	1A
115,000	2019	South Korean	DH	53	Ariadne	53,021	2005	South Korean	DH	1A
112,700	2017	South Korean	DH	54	Artemis	53,039	2005	South Korean	DH	1A
112,700	2017	South Korean	DH	1B	55	Aris	53,107	2005	South Korean	DH	1A
112,700	2017	South Korean	DH	1B	56	Byzantion (2)	37,275	2007	South Korean	DH	1B
112,700	2017	South Korean	DH	1B	57	Bosporos (2)	37,275	2007	South Korean	DH	1B
112,700	2017	South Korean	DH	1B	58	Andromeda	37,061	2007	South Korean	DH	1A
112,700	2016	South Korean	DH	59	Aegeas	37,061	2007	South Korean	DH	1A
112,700	2016	South Korean	DH	60	Amphitrite	37,061	2006	South Korean	DH	1A
112,700	2016	South Korean	DH	61	Arion	37,061	2006	South Korean	DH	1A
27	Elias Tsakos	112,700	2016	South Korean	DH	62	Tenergy	81,479	2021	South Korean	DH	174,000m3
28	Sakura Princess (1)	105,365	2007	Japanese	DH	63	Maria Energy	86,000	2016	South Korean	DH	174,000m3
29	Izumo Princess	105,374	2007	Japanese	DH	64	Neo Energy	85,602	2007	South Korean	DH	150,000m3
30	Uraga Princess	105,344	2010	Japanese	DH	65	TBN (Option)	155,000	2023	South Korean	DH	DP2
31	Sapporo Princess	105,354	2010	Japanese	DH	66	TBN (Option)	155,000	2023	South Korean	DH	DP2
32	Asahi Princess	105,372	2009	Japanese	DH	67	Porto	155,000	2022	South Korean	DH	DP2
33	Ise Princess	105,361	2009	Japanese	DH	68	Lisboa	157,000	2017	South Korean	DH	DP2
34	Nippon Princess	105,346	2008	Japanese	DH	69	Rio 2016	157,000	2013	South Korean	DH	DP2
35	Maria Princess	105,392	2008	Japanese	DH	70	Brasil 2014	157,000	2013	South Korean	DH	DP2

SHUTTLE

CRUDE TANKERS
1	Hercules
2	Ulysses
3	Artemis Voyager
4	Apollo Voyager
5	Euro
6	Spyros K
7	Dimitris P
8	Arctic
9	Pentathlon
10	Eurovision
11	Antarctic
12	Archangel (1)
13	Alaska (1)
14	Decathlon
15	Eurochampion 2004 (1)
16	Euronike (1)
17	Caribbean Voyager
18	Mediterranean Voyager
19	Bergen TS
20	Sola TS
21	Oslo TS
22	Stavanger TS
23	Marathon TS
24	Parthenon TS

• 1) Sale & Leaseback

• 2) 51% owned

LR2

PANAMAXLR1

HANDYMAXHANDYSIZELNG

Vessels in Fixed TC Contracts (at March 23, 2021)

Vessels in TC w/Profit Share contracts (at March 23, 2021)

Spot contracts (at March 23, 2021)

68% of Fleet in the Water (TC P/S, CoA and Spot) with Market Exposure 53% in Secured Contracts (TC, TC P/S & CoA)