TEN, Ltd. Continues Its Fleet Renewal and Reports Sale of Panamax Tanker

Dynamic Fleet Growth on Track

Five New-Technology Panamaxes on Order

Tanker Market Fundamentals Remain Strong

ATHENS, Greece, Sept. 28, 2026 (GLOBE NEWSWIRE) -- TEN, Ltd. (NYSE: TEN) (the “Company”) today reported the sale of the oldest vessel in its fleet, the 2003 Japanese-built Panamax tanker Andes, to independent third parties. The sale generated approximately $13.0 million of free cash and registered a $4.6 million capital gain, to be recorded in the third quarter of 2026.

“The Company has embarked on a significant fleet growth program, as reflected in its 26-vessel orderbook, of which seven vessels have already been delivered. Particular emphasis has been placed on the flexible Panamax segment through the construction of five units,” Mr. George Saroglou, President of TEN commented. “Looking ahead, we will continue to evaluate sale and purchase opportunities while remaining committed to maintaining fleet modernity and operational flexibility that have allowed TEN to thrive through market cycles over the decades,” Mr. Saroglou concluded.

TEN’s CURRENT NEWBUILDING PROGRAM

ABOUT TEN LTD.

Founded in Bermuda in 1993 and celebrating 33 years as a public company, 24 of which on the NYSE, TEN is one of the first and most established public shipping companies in the world. TEN's diversified pro-forma energy fleet currently consists of 80 vessels, totaling approx. 10.4 million dwt.

ABOUT FORWARD-LOOKING STATEMENTS

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. TEN undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

For further information, please contact:

Tsakos Energy Navigation Ltd.

George Saroglou

President & COO

+30210 94 07 710

gsaroglou@tenn.gr

Investor Relations / Media

Capital Link, Inc.

Nicolas Bornozis/ Markella Kara

+212 661 7566

ten@capitallink.com