Notes: July 1, 2020 -- Tsakos Energy Navigation Limited 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.