Tsakos Energy Navigation Limited

Thank you for standing by, ladies and gentlemen, and welcome to the Tsakos Energy Navigation Conference Call on the second quarter of 2026 Financial Results. We have with us Mr. Takis Arapoglou, Chairman of the Board, Mr. Nikolas Tsakos, Founder and CEO, Mr. George Saroglou, President and Chief Operating Officer, and Mr. Harrys Kosmatos, CFO of the company. At this time, all participants are in a listen-only mode. There will be a presentation followed by a question and answer session. At which time, if you wish to ask a question, please press star 1 on your telephone keypad and wait for your name to be announced. I must advise you that this conference is being recorded today. And now, I pass the floor to Mr. Nikolas Bournosis, President of Capital Link and Investor Relations Advisor to Tsakos Energy Navigation Ltd. Please go ahead, sir.

Thank you very much, and good morning to all of our participants. I am Nikolas Bournosis, president of Capitalink, and investor relations advisor to Tsakos Energy Navigation. This morning, the company publicly released its financial results for the six months and second quarter ended June 30, 2026. In case we do not have a copy of today's earnings release, please call us at 212- 661-7566 or email us at 10 at capitolink.com and we will have a copy for you emailed right away. Please note that parallel to today's conference call there is also a live audio and slide webcast which can be accessed on the company's website on the front page at www.tenn.gr. The conference call will follow the presentation slides So please we urge you to access the presentation slides on the company's website. Please note that the slides of the webcast presentation will be available and archived on the website of the company after the conference call. Also please note that the slides of the webcast presentation are user controlled and that means that by clicking on the proper button you can move to the next or to the previous slide on your own. And at this time I would like to read the safe harbor statement This conference call and slide presentation of the webcast contain certain forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties which may affect tense business prospects and results of operations. And at this moment, I would like to pass the floor to Mr. Arapoglou, the chairman of Tsakos Energy Navigation. And before doing that, I'd like to congratulate the company for the record revenue performance, and it seems that you are on course to break the $1 billion revenue target for the year. So, Mr. Saroglou, the floor is yours.

Thank you, Nikolas. Good morning and good afternoon to all. Thank you for joining our call today. presenting second quarter first half results of TEN. And, of course, once again, congratulations to Nikolas Tsakos and the team for the stellar results as briefly described by Mr. Bournosis. Our model, TEN's model, has proven that it works even in weak markets, so no surprise that it works so well also in this market where current market conditions are very favorable. And it's a great opportunity for TEN to continue generating cash from operations, to continue from selling all the vessels to renew the fleet and generate more cash, to fund A record order book, as you have seen in the press release. Keep cash for contingencies, perhaps if the board decides to repay, redeem the cities he preferred. Nobody knows. It's a next year issue. And more importantly, rewarding our investors. I want to emphasize this because During the calendar year 2026, we paid dividends of $0.60 and $1 for a total of $1.60 per share. And it's obvious that this can only go higher if approved by the board and if current conditions are maintained. This is a solid yield of very close to 4 percent, and it's a generous payout. compared to other companies in the sector. So we want to underline that we want to reward our shareholders for staying with us, who have actually benefited also from a nearly doubling of the stock price in the last two years. Finally, TEN is making use of the strong market and of the high time charter rates to lock in high returns for its fleet. and up to now, the total of forward committed earnings is approaching $3.5 billion. So this is a great cushion and a great base to look forward to continued success in the next two to three years. So once again, congratulations to Nikolas Tsakos and the team. for the stellar results and sincere wishes for continued success. Thank you very much. And now, Nikolas Tsakos, the floor is yours. I pass on the floor to you. Thank you.