TEN, Ltd .

367 Syngrou Avenue, 175 64 P. Faliro, Greece

Tel: 30210 94 07 710-3,Fax: 30210 94 07 716, e-mail:ten@tenn.gr

Website: http://www.tenn.gr

Press Release

November 18, 2020

TEN LTD. REPORTS SUCCESSFUL DELIVERY OF FOUR-VESSEL SERIES

WITH LONG-TERM EMPLOYMENT TO OIL MAJOR

$200 million in minimum TCE earnings

Athens, Greece - November 18, 2020- TEN, Ltd. (TEN) (NYSE: TNP) (the "Company") today reported the delivery of the last vessel in a four-series newbuilding program, consisting of two suezmaxes and two aframaxes in South Korea, with five-year contracts to an oil major. The minimum Time-Charter Equivalent ("TCE") revenues expected from these four purpose-built vessels over their minimum five-year employment is $200 million. The Company continues its current growth program with the construction of two vessels in the specialized shipping sectors, namely DP2 shuttle tankers and LNG, both with long term employment.

"We are delighted to have successfully completed this latest phase of our growth program ahead of schedule and our congratulations go to the yard for their commitment and professionalism during these challenging times with the global pandemic. The caliber of the charterer along with the duration of the contract is a testament of TEN's standing as a premier international energy transporter and highlights the Company's long-established industrial model," Mr. George Saroglou, Chief Operating Officer of TEN stated. "With one DP2 suezmax shuttle tanker and one LNG carrier still under construction, we are looking forward to further expanding TEN's operational reach beyond conventional sectors and offer investors wider latitude on the fleet's earnings generation capabilities," Mr. Saroglou completed.

ABOUT TEN

TEN, founded in 1993 and celebrating this year 27 years as a public company, is one of the first and most established public shipping companies in the world. TEN's diversified energy fleet currently consists of 68 double-hull vessels, including one LNG carrier and one suezmax DP2 shuttle tanker under construction, constituting a mix of crude tankers, product tankers and LNG carriers, totalling 7.6 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no

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obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Company

Tsakos Energy Navigation Ltd.

George Saroglou

COO

+30210 94 07 710 gsaroglou@tenn.gr

Investor Relations / Media

Capital Link, Inc.

Nicolas Bornozis

Markella Kara

+212 661 7566 ten@capitallink.com

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TEN - Tsakos Energy Navigation Limited published this content on 18 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2020 14:18:02 UTC