TEN Declares Dividend on its 8.00% Series B and 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares

Tsakos Energy Navigation Limited (“TEN”)

(NYSE: TNP), a leading crude, product, and LNG tanker operator, today announced that its Board of Directors declared regular quarterly cash dividends of $0.50 per share

for its 8.00% Series B Cumulative Redeemable Perpetual Preferred Shares (the “Series B Preferred Shares”; NYSE: TNPPRB) and $0.55469 per share for its 8.875% Series C Cumulative Redeemable Perpetual Preferred Shares (the “Series C Preferred Shares”; NYSE: TNPPRC).

Each dividend is for the period from the most recent dividend payment date on April 3 0, 2014 through June 29, 2014.

The dividend on the Series B Preferred Shares will be paid on July 30, 2014 to all holders of record of Series B Preferred Shares as of July 29, 2014. The dividend on the Series C

Preferred Shares will be paid on July 30,

2014 to all holders of record of Series C

Preferred Shares as of July 25, 2014. Dividends on the Series B and C Preferred Shares

will be payable quarterly in arrears on the 30

th

day of January, April, July and October of

each year, when, as and if declared

by TEN’s board of directors. This is the fifth

dividend on the Series B and the third dividend on the Series C.

TEN has 2,000,000 Series B Preferred Shares and 2,000,000 Series C Preferred Shares

outstanding as of the date of this press release.