Tsakos Energy Navigation : TEN Corporate Presentation April 2021

TEN LTD

April 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

Million (dwt)

8	Far East Crisis	9/11 Crisis	Credit Crisis	Meets…	COVID Crisis

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Capital Markets Access - Successful Countercyclical Growth

1 yr VLCC TC Rates						$92m
	$100,000			$105m			$86m
		$85m
1993-1996	$90,000
	$80,000				$65m		$28m
$130m +	$125m						$35m
	$70,000					$50m	15	$115m
							Jul.
		04
	$60,000	May.					$50m
Fleet from 4	$50,000	10					$150m
vessels in 1993		Oct.
(start of Company -		Mar. 02			Jan. 14		Mar.17	Jun.18
Oslo	$40,000	May 12		Apr. 14 Apr. 15
Stock Exchange) to
12 in 1996	$30,000	May. 13 Sep. 13
	$20,000
	$10,000					$85m
		Iraq War	Credit Crisis						Covid-19

4		22			46		70
					Common Shares
					Preferred Shares
				4
	Source: Clarkson Research Studies	$-m	Preferred Shares Redeemed at Par

		Diversified Fleet	-	Secured Revenues - Market Upside
		CRUDE TANKERS	Dwt	Built	Yard	Hull	Ice Class/Other			COATED TANKERS	Dwt	Built	Yard	Hull	Ice Class/Other
VLCC			LR2
1	Hercules	300,000	2017	South Korean	DH		36	Proteas	117,055	2006	South Korean	DH	1A
	2	Ulysses	300,000	2016	South Korean	DH			37	Promitheas	117,055	2006	South Korean	DH	1A
	3	Artemis Voyager	158,000	2020	South Korean	DH			38	Propontis	117,055	2006	South Korean	DH	1A
	4	Apollo Voyager	158,000	2020	South Korean	DH			39	Sunrise	74,000	2016	South Korean	DH
	5	Euro	158,000	2012	South Korean	DH			40	Sunray	74,000	2016	South Korean	DH
	6	Spyros K	158,000	2011	South Korean	DH			41	World Harmony	74,200	2009	South Korean	DH
	7	Dimitris P	158,000	2011	South Korean	DH		PANAMAXLR1	42	Chantal	74,329	2009	South Korean	DH
SUEZMAX	8	Arctic	163,216	2007	South Korean	DH	1A	43	Selini (2)	74,296	2009	South Korean	DH
9	Pentathlon	158,000	2009	South Korean	DH		44	Salamina (2)	74,251	2009	South Korean	DH
	10	Eurovision	158,000	2013	South Korean	DH			45	Selecao	74,296	2008	South Korean	DH
	11	Antarctic	163,216	2007	South Korean	DH	1A		46	Socrates	74,327	2008	South Korean	DH
	12	Archangel (1)	163,216	2006	South Korean	DH	1A		47	Andes	68,439	2003	Japanese	DH
	13	Alaska (1)	163,250	2006	South Korean	DH	1A		48	Maya (2)	68,439	2003	Japanese	DH
	14	Decathlon	158,000	2012	South Korean	DH			49	Inca (2)	68,439	2003	Japanese	DH
	15	Eurochampion 2004 (1)	164,608	2005	South Korean	DH	1C		50	Ajax	53,095	2005	South Korean	DH	1A
	16	Euronike (1)	164,565	2005	South Korean	DH	1C	HANDYMAX	51	Afrodite	53,082	2005	South Korean	DH	1A
	17	Caribbean Voyager	115,000	2020	South Korean	DH		52	Apollon	53,149	2005	South Korean	DH	1A
	18	Mediterranean Voyager	115,000	2019	South Korean	DH			53	Ariadne	53,021	2005	South Korean	DH	1A
	19	Bergen TS	112,700	2017	South Korean	DH			54	Artemis	53,039	2005	South Korean	DH	1A
	20	Sola TS	112,700	2017	South Korean	DH	1B		55	Aris	53,107	2005	South Korean	DH	1A
	21	Oslo TS	112,700	2017	South Korean	DH	1B		56	Byzantion (2)	37,275	2007	South Korean	DH	1B
AFRAMAX	22	Stavanger TS	112,700	2017	South Korean	DH	1B	HANDYSIZELNG	57	Bosporos (2)	37,275	2007	South Korean	DH	1B
23	Marathon TS	112,700	2017	South Korean	DH	1B	58	Andromeda	37,061	2007	South Korean	DH	1A
	24	Parthenon TS	112,700	2016	South Korean	DH			59	Aegeas	37,061	2007	South Korean	DH	1A
	25	Leontios H	112,700	2016	South Korean	DH			60	Amphitrite	37,061	2006	South Korean	DH	1A
	26	Thomas Zafiras	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		SHUTTLE	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

1)	Sale & Leaseback	Vessels in Fixed TC Contracts (at March 23, 2021)
2)	51% owned	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)

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