Exhibit 99.1

June 11, 2020

First Quarter 2020 Summary Results

Tsakos Energy Navigation Limited’s (the “Company” or “TEN”) gross revenues for the first quarter of 2020 came in at approximately $180 million, $32 million higher than in the 2019 first quarter.

Operating income doubled to $54.7 million from $27.8 million in the 2019 first quarter.

Net income was $21.2 million, which takes into account the impact of non-cash items. Earnings per share, after non-cash bunker hedges and preferred stock dividends, increased to $0.12 in the first quarter of 2020 from $0.01 in the first quarter of 2019.

EBITDA amounted to about $90 million in the first quarter of 2020, 40% higher than in the 2019 first quarter. See the reconciliation of EBITDA to net income included elsewhere herein.

The daily average TCE per vessel reached $26,629 in the first quarter of 2020 compared to $21,054 in the first quarter of 2019.

This performance was a reflection of the strong market that started in the latter months of 2019 and continued into the first and second quarter of 2020. As a result, TEN once again benefited by chartering its vessels on long-term contracts hence securing future earnings and allowing the fleet to achieve a high fleet utilization, reaching 97% with only one vessel undergoing scheduled dry docking.

Fleet operating expenses increased modestly to $45.5 million from $43.3 million in the first quarter of 2019, partly due to the size of the fleet and calculated increases in provisions and stores taken onboard vessels for precautionary reasons as the Covid-19 pandemic began to spread, threatening access to terminals.

On a daily average per vessel basis, operating expenses were once again controlled to about $7,900 in the first quarter of 2020 due to strict cost checks.

G&A expenses increased by $1.17 million mainly due to a slightly higher fleet from the first quarter of 2019.

Depreciation and amortization combined were about $0.5 million lower in the first quarter of 2020 than in the 2019 first quarter due to vessel sales.

In the first quarter of 2020, interest and finance costs reached $33.6 million, which included hedge related payments and $16.0 million non-cash negative changes in bunker valuations. These non-cash items have already reversed due to the rebalancing of the oil market in terms of oil production and expected to have a positive impact on the balance sheet going forward.

Actual bank loan interest payments fell by $4.4 million in the first quarter of 2020 due to lower interest rates and declining outstanding loans from scheduled repayments and vessel sales.

By the end of the 2020 first quarter, total outstanding indebtedness fell by a net $53.5 million and correspondingly TEN’s net debt to capital declined to 46.5%. Concurrently, TEN’s cash balances reached a level well beyond earlier expectations, with cash reserves at a healthy $221 million as of March 31, 2020.

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In January 2020, TEN took delivery of the newbuilding aframax Caribbean Voyager which immediately commenced its five-year bareboat employment to a US oil major, sistership to the Mediterranean Voyager delivered in October 2019 to the same charterer for identical employment.

Dividend – Common Shares Following the March 24, 2020 announcement of a 5 cents per common share dividend, the Company’s Board of Directors have subsequently approved to increase, for this time, that amount by 50% and pay a total of 7.5 cents per common share on June 26, 2020. The record date has been set for June 22, 2020 with ex-dividend date June 19, 2020.

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The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP measures used within the financial community may provide users of this financial information additional meaningful comparisons between current results and results in prior operating periods as well as comparisons between the performance of Shipping Companies. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company’s performance. We are using the following Non-GAAP measures:    

Non-GAAP financial measures should be viewed in addition to and not as an alternative for, the Company’s reported results prepared in accordance with GAAP.

The Company does not incur corporation tax.

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Exhibit 99.2

Reverse Share Split Disclosure

On July 1, 2020, Tsakos Energy Navigation Limited (the “Company”) effected a one-for-five (1-for-5) reverse share split of its authorized common shares, with a corresponding increase in the par value per share to $5.00 per share. The reverse share split reduced the number of authorized common shares from 175,000,000 common shares, with a par value of $1.00 per share, to 35,000,000 common shares, with a par value of $5.00 per share, and reduced the number of outstanding common shares from 93,905,410 common shares to 18,781,049 common shares. No fractional shares were issued in connection with the reverse share split. Shareholders who would otherwise have been entitled to receive a fractional share of the Company’s common shares after the reverse share split received a cash payment in lieu of such fractional share. No other terms of the Company’s common shares were affected by the reverse share split.

As the $175,000,000 authorized share capital of the Company related to common shares remained unchanged after the reverse share split, the stated capital on the Company’s consolidated balance sheet attributable to the common shares was unchanged as a result of the reverse share split.

All share and earnings (loss) per share information has been retroactively adjusted to reflect the reverse share split. The effect of the reverse share split on per share amounts and the weighted average number of common shares issued and outstanding for each of the quarters ended March 31, 2020 and 2019, and each of the five fiscal years ended December 31, 2019 are as follows.

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