Slide 1: August 4, 2006
August 4", 2006
Slide 2: Forward-looking statements
This presentation may contain forward-looking statements that are not based on historical fact, including without limitation, statements containing the words “expects, * “anticipates, ” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions. Because these forward-looking statem
Slide 3: 1st Half 2006 — TEN's Expansion — A busy time
1st Half 2006 — TEN’s Expansion — A busy time... Q Since January 2006 TEN has invested over $1 billion in fleet growth projects EXISTING VESSELS Archangel (06 Suez) Alaska (06 Suez) Antares (06 Hsz Product) La Prudencia (93 VLCC) Delphi (04 Hsz Product) Ariadne (05 Hsz Product) Artemis (05 Hsz Produ
Slide 4: TEN's Fleet Summary
TEN’s Fleet Summary Total Fleet: 50 vessels Total Dwt: 5,214,973 Average Age: 6.0 years Average Age of World Fleet. 11.4 years ouble Hull: 96.6% Mixed Hull: 1.6% Single Hull: 1.8% ice-class vessels: 24 (48.0% of total fleet) Ice-class dwt: 2,069,151 (39.7% of total fleet) CRUDE FLEET CLEAN / PRODUCT
Slide 5: TEN's Fleet
& SHO NDO HR WH = —% ADOAN Aa A WH aul, ° Sal: TEN’s Fleet Dwt | Built | Hull | Ice Class Dwt Built | Hull] Ice Class LR -AFRAMAX x “ py Prot 116, H 1 ira Ont 198 OF pace igo 0s ON TA fa Madina 208 LOD toes Ort 3 |Propontis 116.000 2006 DHA baPuudenes 335 0) 9) SUEZMAX +|Maya‘! 68467 2003 DH Silia T
Slide 6: Vessel Charterers
; a Vessel Charterers uatoriana —__ExonMobil acces — NESTE OIL @ wi PETROBRAS 66) Tratifju ra siteeft HMM SE 4 > = 6
Slide 7: Employment Profile (as of Sep. 2006)
Employment Profile (as of sep. 2006) Fixed Charters & Time Charters with profit share VESSEL TYPE RATE TO TEN | EXPIRY COMMENTS “BAREBOAT Millennium Vice $25,500 Pp ut $35. “Tine Cape Baker Suezmax $235,375 Sep. 2006 CHARTER $36.000 Sep. 2003 Cape Balboa Suezmax $28,875 Sep. 2006 $36,000 Sep. 2009 E
Slide 8: Employment Profile (as of Sep. 2006)
Employment Profile (as of sep. 2006) Contracts of Afreightment, Pooling Arrangements and Spot VESSEL TYPE RATETOTEN EXPIRY COMMENTS COA Parthenon Aframax $32,000 nia Evergreen contract Athens 2004 Aframax $32,000 nia Evergreen contract Marathon Aframax $32,000 Aug. 2007 Evergreen contract Min. $17,0
Slide 9: Secured Revenues (as of July 31, 2006)
Secured Revenues (as of July 31°", 2006) 2006: [ % Days Fixed (Remaining) | 80% $126m 2007: [ % Days fixed (So far to date) | 15% $250m
Slide 10: TEN's Newbuilding Program — Fleet Growth
TEN’s Newbuilding Program — Fleet Growth a3 s 8 ru 2
Slide 11: TEN's Newbuilding Program — Guaranteed Growth
TEN’s Newbuilding Program — Guaranteed Growth D oe aesezo, ie TEN’s current newbuilding orderbook is one of the largest in the peer group 14 vessels to join the fleet in the next 10 quarters — approx. 120,000dwt per quarter Newbuildings consist of 2 x Suezmaxes, 6 x Aframaxes, 5 x Handysize and 1 x
Slide 12: Newbuildings to be fixed (as of July 31, 2006)
Newbuildings to be fixed (as of July 31°, 2006) == == = =cE Arctic Suezmax 1A 02/2007 2 Antarctic Suezmax 1A 04/2007 3. Andromeda Handysize Product 1A 03/2007 4. Aegeas Handysize Product 1A 05/2007 5. Byzantion Handysize Product 1A 05/2007 6. Bosporos Handysize Product 1A 09/2007 7. LNG (tbn) LNG 01
Slide 13: Sale & Purchase Activity
4 a2 ; Sale & Purchase Activity La Madrine* Aegeas Andromeda Arion DELIVERIES& Giities NB ORDERS Delos* Deios— CG:37,7m t) oy 9 98 000dwt - CG:$8.7m Afram ax-DNA Antarctic Arctic Toula 2—CGS127m 107 ,000dwt CG$12.7m Afamax - Wide DELIVERIES & NB ORDERS -€G:$5.2m Pella -- CG:$4.5m Dion — CG:$4.3m Ata
Slide 14: Financial Highlights
Financial Highlights 2003 2004 2005 2006 6mo Average # of Vessels 257 27:3 26.1 30.5 TCE Revenues, net $193 $276 $260 $163.5 Net Income $59.1 $143.3 $161.8 $74.8 Gain on Vessel Sales $16 $21 $45.3 - EPS, diluted $3.44 $7.51 $8.17 $3.92 ROE 22.1% 45.5% 31.0% nla EBITDA $112 $198 $215 $112 () 2003 gai
Slide 15: Shareholders Value
Shareholders Value 1. Dividend Policy - Paid in 2 semi-annual installments - Between 25-50% of Net Income 2002 = 2003 2004 2005 Net Income $14,675 $59,052 $143,290 | $161,755 (excluding 2002 impairment loss) Installment 1 $0.50 $0.50 $0.70 $1.00 (October) Installment 2 (April following calendar year
Slide 16: Appendices
Slide 17: Comparative Returns
Range Securities Index COMP COMPARATIVE RETURNS I | i Daily 1 f { Crncy Pre Appr Total Ret Difference Annual Eq TSAKOS ENERGY NA BLOOMBERG TANKER INDEX StP S00 INDEX 204.93 % 275.89 % 56.69 % 34.56 % 28JUN BOSEP SIDECSIMAROSSOJUN SOSEP S1DECSIMARO4 30JUN 30SEP S1DECSIMAROS SOJUN SOSEP S0DEC 31MAROS
Slide 18: Appendix
@) Appendix 2 Q) Over the last 12 months, TEN has produced a total return of 25.94%, which is 15.23% higher than the Bloomberg Tanker Index and 21.23% higher than the S&P 500 Index COMP COMPARATIVE RETURNS Page 1/19 Range - Period D Daily 365 Day Period Securities Cracy Pre Appr Total Ret Difference
Slide 19: Appendix
Appendix 3 OQ) Over the last 12 months, TEN has ranked second on a total return basis within the universe of six companies that comprise the Bloomberg Tanker Index GRAB Enter # <Yellouw Ranked Returns Australia 61 Hong Kong S52 NERGY NA 3 FRONTLINE LTD 9 GENERAL MAR ME 5) OVERSEAS IPHLD ) TEEKAY F $