Tsakos Energy Navigation Investor Presentation — March 2021

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Q4 & YE2020 Earnings Presentation

TEN LTDThis presentation may contain forward -looking statements that are not based on historical fact, including without limitation, st atements 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 d iffer 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

012345678Million (dwt)

Far East Crisis 9/11 Crisis Credit Crisis COVID Crisis Meets…Crisis -Resistant Growth Model Spanning Four Decades

Diversified Fleet -Secured Revenues –Market Upside

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

53% in Secured Contracts (TC, TC P/S & CoA)

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)1) Sale & Leaseback

Dwt Built Yard Hull Ice Class/Other Dwt Built Yard Hull Ice Class/Other