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Tsakos Energy Navigation 9.25% Series E Fixed to Floating RateCumulative Redeemable Perpetual Preferred Shares

Coupon will be fixed at 9.25% until 5/28/2027 after which the rate will float at 3 month Libor plus a spread of 6.881%.

Investors will receive a 1099 at tax time as Tsakos Energy Navigation has chosen to be taxed as a c-corp

Ticker: TNP-E

Parent Ticker: TNP

OTC Grey Market Temporary Ticker: NA

Issuance Date: 03/29/2017

1st Call Date: 05/28/2027

Maturity Date: None

Shares Issued: 4,000,000

Overallotment Shares: 600,000

Coupon: 9.25%

Face Value: $25.00

Cumulative: Yes

Qualified: Yes

Quarterly Dividend Amount: 0.58

Payment Months: FEB, MAY, AUG, NOV

Payment Day: 28

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR