<SEC-DOCUMENT>0001628280-19-007143.txt : 20190523
<SEC-HEADER>0001628280-19-007143.hdr.sgml : 20190523
<ACCEPTANCE-DATETIME>20190523160509
ACCESSION NUMBER:		0001628280-19-007143
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20190523
FILED AS OF DATE:		20190523
DATE AS OF CHANGE:		20190523

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEEKAY CORP
		CENTRAL INDEX KEY:			0000911971
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12874
		FILM NUMBER:		19850073

	BUSINESS ADDRESS:	
		STREET 1:		4TH FLOOR, BELVEDERE BUILDING
		STREET 2:		69 PITTS BAY ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 08
		BUSINESS PHONE:		604-683-3529

	MAIL ADDRESS:	
		STREET 1:		SUITE 2000,  BENTALL 5
		STREET 2:		550 BURRARD STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2K2

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEEKAY SHIPPING CORP
		DATE OF NAME CHANGE:	19950609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIKING STAR SHIPPING INC
		DATE OF NAME CHANGE:	19930914
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tkcq1-19erdocument.htm
<DESCRIPTION>6-K
<TEXT>
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<div><a name="s03216F6ABC2456C9A32E1E3FA788887A"></a></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;&#160;</font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">UNITED STATES </font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">WASHINGTON, D.C. 20549 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:18pt;"><font style="font-family:Arial;font-size:18pt;font-weight:bold;">FORM 6-K </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Report of Foreign Private Issuer </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">Pursuant to Rule 13a-16 or 15d-16 of </font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;font-weight:bold;">the Securities Exchange Act of 1934 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Date of Report: </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">May&#160;23, 2019</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">&#32;</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Commission file number 1- 12874 </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:24pt;"><font style="font-family:Arial;font-size:24pt;font-weight:bold;">TEEKAY CORPORATION </font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;font-weight:bold;">(Exact name of Registrant as specified in its charter) </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">4th Floor, Belvedere Building </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">69 Pitts Bay Road </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Hamilton, HM 08, Bermuda </font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;font-weight:bold;">(Address of principal executive office) </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">_________________________</font></div><div style="line-height:120%;text-align:center;font-size:8.5pt;"><font style="font-family:Arial;font-size:8.5pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Form 20-F </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form 40- F </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1).</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;Yes </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7).</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Yes </font><font style="font-family:Wingdings;font-size:9pt;">&#168;</font><font style="font-family:Arial;font-size:9pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="font-family:Wingdings;font-size:9pt;">&#253;</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="1"></td></tr><tr><td style="width:682px;"></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #000000;"><div style="overflow:hidden;height:5px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">1</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s59B8E19AED005B5C9DCF3975F8E597DA"></a></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Item 1 &#8212; Information Contained in this Form 6-K Report</font><font style="font-family:Arial;font-size:10pt;">&#32;</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Attached as Exhibit 1 is a copy of an announcement of Teekay Corporation dated </font><font style="font-family:Arial;font-size:10pt;">May&#160;23, 2019</font><font style="font-family:Arial;font-size:10pt;">. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">SIGNATURES </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:682px;border-collapse:collapse;text-align:left;"><tr><td colspan="4"></td></tr><tr><td style="width:304px;"></td><td style="width:37px;"></td><td style="width:16px;"></td><td style="width:325px;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">TEEKAY CORPORATION</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:20px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Date: May&#160;23, 2019</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">By:</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">/s/ Vincent Lok</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Vincent Lok </font></div><div style="font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">2</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE3C1E9E747FA5814AB824FB2CEA4EE25"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:98.64603481624758%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;"><img src="newsreleasea11.jpg" alt="newsreleasea11.jpg" style="height:49px;width:229px;"></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:19pt;"><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">TEEKAY CORPORATION REPORTS</font></div><div style="line-height:120%;padding-bottom:2px;text-align:left;font-size:19pt;"><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">FIRST</font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">&#32;QUARTER </font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">2019</font><font style="font-family:Arial;font-size:19pt;color:#003698;font-weight:bold;">&#32;RESULTS</font></div><div style="line-height:120%;padding-bottom:13px;padding-top:13px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#13b3f2;">Highlights</font></div><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">GAAP net </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">loss</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;attributable to shareholders of Teekay of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$84.3 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$0.84</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;per share, and adjusted net </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">loss</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$13.0 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$0.13</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;per share (excluding items listed in </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendix A</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;to this release).</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Total Adjusted EBITDA</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1) </sup></font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$237.0 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;">In May 2019, completed the sale of all of the Company&#8217;s remaining interests in Teekay Offshore to Brookfield for total cash proceeds of $100 million.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;">In May 2019, refinanced Teekay's 2020 bond maturity with a new $250 million private offering of 9.25% senior secured notes maturing in November 2022, proceeds from the sale of Teekay Offshore, and existing cash balances.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:4px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:30px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;padding-left:30px;"><div style="line-height:120%;text-align:justify;font-size:10pt;text-indent:-30px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay LNG i</font><font style="font-family:Arial;font-size:10pt;">ncreased its quarterly cash distributions on common units by 36 percent, as part of a balanced capital allocation strategy.</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-weight:bold;">Hamilton, Bermuda, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-weight:bold;">May&#160;23, 2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;- Teekay Corporation (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;or </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">the Company</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TK) today reported results for the quarter ended March 31, 2019.  These results include the Company&#8217;s two publicly-listed consolidated subsidiaries Teekay LNG Partners L.P. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay LNG</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TGP) and Teekay Tankers Ltd. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Tankers</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TNK) (collectively, the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Daughter Entities</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) and its equity-accounted investment in publicly-listed Teekay Offshore Partners L.P. (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Offshore</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) (NYSE:TOO), which the Company sold in May 2019,  and all remaining subsidiaries and equity-accounted investments. Teekay, together with its subsidiaries other than the Daughter Entities and Teekay Offshore, is referred to in this release as </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.  Please refer to the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;earnings releases of Teekay LNG, Teekay Tankers and Teekay Offshore, which are available on Teekay's website at </font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;color:#0000ff;">,</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">for additional information on their respective results.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Financial Summary</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:9px;"></td><td style="width:382px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-style:italic;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-style:italic;font-weight:bold;">&#160;(in thousands of U.S. dollars, except per share amounts) </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="4" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">TEEKAY CORPORATION CONSOLIDATED </font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">481,213</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">491,532</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">394,022</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Income from vessel operations</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">84,232</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">88,811</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity (loss) income</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,653</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">19,356</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Net loss attributable to shareholders in Teekay  </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(84,257</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(18,353</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(20,555</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Loss per share attributable to shareholders of Teekay</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.84</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.18</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.21</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">NON-GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Total Adjusted EBITDA</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">236,960</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">246,675</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">168,364</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Adjusted Net Loss attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(12,955</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,014</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(18,324</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Adjusted Net Loss per share attributable to shareholders of Teekay</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.13</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.02</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.19</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">TEEKAY PARENT </font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">NON-GAAP FINANCIAL COMPARISON</font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#dffffa;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#dffffa;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Teekay Parent Adjusted EBITDA</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,802</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,081</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">13,222</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Total Teekay Parent Free Cash Flow</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13,763</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(11,000</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,212</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:6px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">These are non-GAAP financial measures.  Please refer to &#8220;Definitions and Non-GAAP Financial Measures&#8221; and the Appendices to this release for definitions of these terms and reconciliations of these non-GAAP financial measures as used in this release to the most directly comparable financial measures under United States generally accepted accounting principles (</font><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;font-style:italic;">GAAP</font><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">).</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">3</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">In the first quarter of 2019, the Company made certain changes to its non-GAAP financial measures to more closely align with internal management reporting and annual reporting filed with the U.S. Securities and Exchange Commission (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">SEC</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) under Form 20-F. Cash Flow from Vessel Operations (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">CFVO)</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and CFVO of Equity-Accounted for Investments are replaced with Total Adjusted EBITDA and Adjusted EBITDA from Equity-Accounted Vessels, respectively. Please refer to "Definitions and Non-GAAP Financial Measures" in this release for definitions of these non-GAAP financial measures and information about the changes made.</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;"><br></font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">CEO Commentary</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8220;In the first quarter of 2019, our total adjusted EBITDA increased by approximately $70 million, or over 40 percent, from the same period of the prior year, primarily driven by the contract start-up of various growth projects across the Teekay Group, certain LNG vessels commencing new contracts at higher rates and higher spot tanker rates,&#8221; commented Kenneth Hvid, Teekay&#8217;s President and Chief Executive Officer. &#8220;Our consolidated and Teekay Parent results in the first quarter of 2019 were negatively impacted by lower revenues from Teekay Parent&#8217;s directly-owned FPSO units as a result of some unplanned maintenance, lower production and the adoption of the new lease accounting standard, which reduced revenues by approximately $8 million in the first quarter of 2019.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Mr. Hvid continued, &#8220;The divestment of our remaining interests in Teekay Offshore was an important milestone in our evolution and is aligned with Teekay&#8217;s strategy to simplify and focus on our core gas and tanker businesses. The net proceeds from the divestment allowed us to further delever Teekay Parent&#8217;s balance sheet, while also enabling us to reduce the size of the new bond offering to $250 million and shorten the tenor to 3.5 years, which provides a more flexible and lower cost structure to better suit our delevering strategy. Since the beginning of 2018, we have reduced Teekay Parent&#8217;s gross debt by over $260 million, or 40 percent, which is expected to reduce Teekay Parent&#8217;s interest expense and increase its free cash flow.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8220;With the completion of our 2020 bond refinancing, the near completion of all our LNG growth projects, and the anticipated improving tanker and gas shipping market fundamentals, we believe that we have reached a positive turning point and are now positioned to create greater long-term value.&#8221; </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8220;Despite the near-term weakness in the spot LNG carrier market, we continued to take advantage of the improving market fundamentals through Teekay LNG by securing one to three-year charters on multiple LNG carriers at attractive rates. Teekay LNG continues to report cash flow growth mainly driven by recent LNG carrier newbuilding deliveries and the start-up of various LNG carrier charter contracts at higher rates. In addition, as expected, Teekay LNG increased its quarterly cash distributions by 36 percent for the first quarter, which is part of its balanced capital allocation strategy that allows Teekay LNG to return additional capital to unitholders while also continue to delever its balance sheet.&#8221;</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8220;Teekay Tankers benefitted from another quarter of strong tanker rates, which has resulted in two consecutive profitable quarters. However, spot tanker rates declined in the latter half of the first quarter due to certain seasonal and temporary factors. Looking ahead, we believe the tanker market fundamentals continue to support a market recovery that would increase both cash flows and asset values. With a stronger liquidity position and significant operating leverage, we believe that Teekay Tankers is well-positioned to benefit from a tanker market recovery.&#8221;</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">4</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA5150491812351C8964EE673CCAD7EA5"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary of Results </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:left;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Corporation Consolidated</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">The Company's consolidated results during the quarter ended March 31, 2019, compared to the same period of the prior year, were positively impacted primarily by higher earnings in Teekay LNG due to the delivery and contract start-up of several newbuildings during the past year as well as higher revenues earned from certain existing LNG carriers and multi-gas vessels and higher earnings in Teekay Tankers primarily as a result of an increase in spot tanker rates. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">These increases were partially offset primarily by lower revenues from Teekay Parent's three directly-owned floating production, storage and offloading (</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">FPSO</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) units in the first quarter of 2019, compared to the same period of the prior year, as a result of lower oil production and average oil prices, an increase in unplanned maintenance days, and lower revenues recognized in the first quarter of 2019 due to timing differences resulting from the adoption of the new lease accounting standards effective January 1, 2019.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition, GAAP net loss was negatively impacted in the three months ended March 31, 2019, compared to the same quarter of the prior year, by various items, including a write-down of $64.9 million of Teekay Parent's investment in Teekay Offshore, and an increase in unrealized losses on non-designated derivative instruments, partially offset by a decrease in asset impairments.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Parent</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Total Teekay Parent Free Cash Flow</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1) </sup></font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">was negative </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$13.8 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;during the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, compared to negative </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$3.2 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;for the same period of the prior year primarily due to: lower revenues from the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Banff </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Hummingbird Spirit </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO units due to contractual production tariffs linked to oil prices, which were lower in the first quarter of 2019 compared to the same period in the prior year, lower revenues for the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Foinaven </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO unit due to lower production in the first quarter of 2019 and, as a result of the adoption of the new lease accounting standard in 2019, there was a deferral in 2019 of the recognition of approximately $4 million of additional incentive revenue related to the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Foinaven </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">FPSO and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Banff</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;FPSO units which would have been recognized in the first quarter of 2019 under the accounting standard in effect in 2018, and lower cash distributions from Teekay Offshore as its distributions were reduced to zero in January 2019.  These decreases were partially offset by a 36 percent increase in Teekay LNG&#8217;s quarterly distribution in the first quarter of 2019 and lower Teekay Parent interest expense due to repurchase of a portion of its 8.5% 2020 bonds and repayments made on two revolving credit facilities since the beginning of 2018. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendix D</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of this release for additional information about Teekay Parent's Free Cash Flow.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;">(1) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">These are non-GAAP financial measures.  Please refer to &#8220;Definitions and Non-GAAP Financial Measures&#8221; and the Appendices to this release for definitions of these terms and reconciliations of these non-GAAP financial measures as used in this release to the most directly comparable financial measures under United States GAAP.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">5</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;padding-top:13px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Summary Results of Daughter Entities</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:13px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;text-decoration:underline;">Teekay LNG</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay LNG&#8217;s net income and total adjusted EBITDA for the three months ended March 31, 2019, compared to the same quarter of the prior year, were positively impacted primarily by: the deliveries of six wholly-owned LNG carrier newbuildings (the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Magdala</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Myrina</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Megara</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Bahrain Spirit</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Sean Spirit</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Yamal Spirit</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">) between February 2018 and January 2019; higher earnings from the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Torben Spirit</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;due to an increased charter rate from a new three-year charter contract which commenced in December 2018; higher earnings from Teekay LNG's seven multi-gas carriers which earned higher spot revenues during the first quarter of 2</font><font style="font-family:Arial;font-size:10pt;">019; earnings from the</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">&#32;Magellan Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;which has been employed on a charter-out basis since October 2018 to March 2019; and the deliveries of three LNG carrier newbuildings between January 2018 and January 2019 and the delivery of the second ARC7 LNG carrier newbuilding in September 2018 in two of Teekay LNG's joint ventures, with Teekay LNG&#8217;s ownership interest in these vessels ranging from 20 to 30 percent, and 50 percent, respectively. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">These increases were partially offset by an increase in off-hire days in the first quarter of 2019 for certain of Teekay LNG's vessels due to repairs and a scheduled dry docking</font><font style="font-family:Arial;font-size:10pt;">.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition, GAAP net income was negatively impacted by unrealized losses of $4.4 million on non-designated derivative instruments in Teekay LNG&#8217;s equity-accounted investments in the first quarter of 2019 compared to gains on designated and non-designated derivative instruments of $11.5 million in the first quarter of 2018, and due to a gain of $5.6 million recognized on the sale of Teekay LNG's 50 percent-owned joint venture with Exmar NV (the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Excelsior Joint Venture</font><font style="font-family:Arial;font-size:10pt;">) during the first quarter of 2018. These decreases were partially offset by write-downs of $18.7 million for the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Alexander Spirit</font><font style="font-family:Arial;font-size:10pt;">, </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">European Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">African Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;conventional tankers to their estimated fair values recorded during the first quarter of 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Please refer to Teekay LNG's first quarter 2019 earnings release for additional information on the financial results for this entity.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;text-decoration:underline;">Teekay Tankers</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay Tankers' net income and total adjusted EBITDA for the three months ended March 31, 2019 increased in comparison to the same period of the prior year, primarily due to higher average spot tanker rates and lower general and administrative expenses. </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition, GAAP net income was negatively impacted by unrealized losses of $1.8 million on non-designated derivative instruments in the first quarter of 2019 compared to gains on non-designated derivative instruments of $3.0 million in the first quarter of 2018.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Please refer to Teekay Tankers' first quarter 2019 earnings release for additional information on the financial results for this entity.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">6</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4FAF5A085D6D5316B1072CC3B458C9B1"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary of Recent Events</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Parent</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In late April 2019, Teekay Parent agreed to sell to Brookfield Business Partners L.P., together with its institutional partners (collectively&#160;</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Brookfield</font><font style="font-family:Arial;font-size:10pt;">), all of the Company&#8217;s remaining interests in Teekay Offshore, which includes the Company&#8217;s 49% general partner interest, common units, warrants, and an outstanding $25 million loan from the Company to Teekay Offshore, for total cash proceeds of $100 million. The transaction closed on May 8, 2019.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In May 2019, Teekay Parent completed a private offering for $250 million in aggregate principal amount of 9.25% senior secured notes due November 2022 (the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Notes</font><font style="font-family:Arial;font-size:10pt;">). The Notes are guaranteed on a senior secured basis by certain of Teekay&#8217;s subsidiaries and will initially be secured by first-priority liens on two of Teekay Parent's FPSO units, the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Petrojarl Banff</font><font style="font-family:Arial;font-size:10pt;">&#32;and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Hummingbird Spirit</font><font style="font-family:Arial;font-size:10pt;">, a pledge of the equity interests of the Teekay subsidiary that owns all of Teekay&#8217;s common units of Teekay LNG and all of Teekay&#8217;s Class A common shares of Teekay Tankers and a pledge of the equity interests in the Teekay subsidiaries that own its three FPSO units. In addition, Teekay Parent completed the settlement of its cash tender offer to purchase its outstanding 8.5% senior notes due 2020 (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">2020 Notes</font><font style="font-family:Arial;font-size:10pt;">), repurchasing $460.9 million of the $497.7 million aggregate principal amount outstanding prior to the tender offer. Of the $460.9 million of repurchases of the 2020 Notes, $458.0 million was repurchased for total consideration of $1,032.50 per $1,000 of principal amount and $2.9 million was repurchased for total consideration of $982.50 per $1,000 of principal amount.</font></div><div style="line-height:120%;padding-top:13px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay LNG</font></div><div style="line-height:120%;font-size:12pt;"><font style="font-family:Arial;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In April 2019, Teekay LNG secured a three-year fixed-rate charter contract for the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Magellan Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;LNG carrier</font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">,</font><font style="font-family:Arial;font-size:10pt;">&#32;which is expected to commence at the end of May 2019, and concurrently extended the current charter-in contract from the Teekay LNG-Marubeni Joint Venture to cover the same three-year period.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In May 2019, Teekay LNG extended its fixed-rate charter contract of the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Polar Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;LNG carrier for three additional years at a charter rate in excess of the previous fixed-rate. The charter extension commenced on May 7, 2019.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In addition, in May 2019, Teekay LNG secured one-year fixed-rate charter contracts on both the </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Arwa Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Marib Spirit</font><font style="font-family:Arial;font-size:10pt;">&#32;LNG carriers, which are expected to commence mid-June and early-July 2019, respectively, both of which are owned by the Teekay LNG-Marubeni Joint Venture.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2019, Teekay LNG  entered into a commercial management agreement with Lauritzen Kosan A/S (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Manager</font><font style="font-family:Arial;font-size:10pt;">), a third-party commercial manager, pursuant to which the Manager will commercially manage Teekay LNG's seven multi-gas vessels. In May 2019, Teekay LNG completed the transition of the commercial management of all seven multi-gas vessels to the Manager.</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Tankers</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">In January 2019, Teekay Tankers entered into a time charter-out contract for one Suezmax tanker for a firm period of six months at a daily rate of $27,500.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">In April 2019, Teekay Tankers entered into a time charter-in contract for an Aframax vessel for a firm period of two years, plus an extension option, which is expected to commence by July 2019 at a daily rate of $21,000.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay Tankers' current dividend policy is to pay out 30 to 50 percent of its quarterly adjusted net income, subject to reserves the Board of Directors may determine are necessary for the prudent operation of the company. Given the  losses generated during the first three quarters of 2018, and the additional debt incurred from recent financing transactions to improve its liquidity position as well as the current tanker market weakness, Teekay Tankers has elected to reserve the amount that would have otherwise been paid out as a dividend for the first quarter of 2019 to reduce outstanding debt. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">7</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4215FC6802935DF38346CC0BA24FB754"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:10px;padding-top:13px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Liquidity</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">As at </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">March&#160;31, 2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, Teekay Parent had total liquidity of approximately </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$355.9 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(consisting of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$213.1 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of cash and cash equivalents and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$142.8 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of undrawn revolving credit facilities) and, on a consolidated basis, Teekay had consolidated total liquidity of approximately </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$795.6 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(consisting of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$410.7 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of cash and cash equivalents and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">$384.9 million</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of undrawn revolving credit facilities). </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Conference Call</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">The Company plans to host a conference call on Thursday, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">May&#160;23, 2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;at 2:00 p.m. (ET) to discuss its results for the </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">first</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;quarter of </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options: </font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">By dialing (</font><font style="font-family:Arial;font-size:10pt;">800)-667-5617 </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">or (647) 490-5367, if outside North America, and quoting conference ID code </font><font style="font-family:Arial;font-size:10pt;">6079686</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:8px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:10pt;padding-left:0px;"><font style="font-family:Arial;font-size:10pt;">&#8226;</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">By accessing the webcast, which will be available on Teekay&#8217;s website at </font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;(the archive will remain on the website for a period of one year).</font></div></td></tr></table><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">An accompanying </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">First</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;Quarter </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">2019</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;Earnings Presentation will also be available at</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font><font style="font-family:Arial;font-size:10pt;">&#32;</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">in advance of the conference call start time. </font></div><div style="line-height:120%;padding-bottom:10px;padding-top:16px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">About Teekay</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay is a leading provider of international crude oil and gas marine transportation services and also provides offshore production and logistics. Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P. (NYSE:TGP), the world&#8217;s third largest independent owner and operator of LNG carriers, and Teekay Tankers Ltd. (NYSE:TNK), one of the world&#8217;s largest owners and operators of mid-sized crude tankers. The consolidated Teekay entities manage and operate total assets under management of approximately $11 billion, comprised of approximately 155 liquefied gas, offshore, and conventional tanker assets. With offices in 12 countries and approximately 5,600 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world&#8217;s leading oil and gas companies.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Teekay&#8217;s common stock is listed on the New York Stock Exchange where it trades under the symbol &#8220;TK&#8221;. </font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-weight:bold;">For Investor Relations enquiries contact:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Ryan Hamilton</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Tel:  +1 (604) 609-2963</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">Website:</font><font style="font-family:Arial;font-size:10pt;">&#32;&#32;</font><font style="font-family:Arial;font-size:10pt;color:#40b4e5;text-decoration:underline;">www.teekay.com</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">8</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Definitions and Non-GAAP Financial Measures</font></div><div style="line-height:120%;padding-bottom:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;">This release includes various financial measures that are non-GAAP financial measures as defined under the rules of the SEC. These non-GAAP financial measures, which include, Adjusted Net Loss Attributable to Shareholders of Teekay, Teekay Parent GPCO Free Cash Flow, Teekay Parent Free Cash Flow, Net Interest Expense and Adjusted Equity Income, and </font><font style="font-family:Arial;font-size:10pt;">commencing in the first quarter of 2019, Adjusted EBITDA,</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;are intended to provide additional information and should not be considered a substitute for measures of performance prepared in accordance with GAAP. In addition, these measures do not have standardized meanings across companies, and therefore may not be comparable to similar measures presented by other companies. The Company believes that certain investors use this information to evaluate the Company&#8217;s financial performance, as does management.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In prior periods, the Company reported Cash Flow from Vessel Operations (</font><font style="font-family:Arial;font-size:10pt;font-style:italic;">CFVO</font><font style="font-family:Arial;font-size:10pt;">), as a non-GAAP measure. In the first quarter of 2019, the Company made certain changes to its non-GAAP financial measures to more closely align with internal management reporting, annual reporting with the SEC under Form 20-F and metrics used by certain investors. CFVO from Consolidated Vessels and Total CFVO are replaced with Consolidated Adjusted EBITDA and Total Adjusted EBITDA, respectively, for current and comparative periods.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:10px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Adjusted EBITDA</font><font style="font-family:Arial;font-size:10pt;">&#32;represents net income (loss) before interest, taxes, depreciation and amortization, foreign exchange gain (loss), items included in other (loss) income, write-down and (loss) gain on sale of vessels, equipment and other operating assets, amortization of in-process revenue contracts, adjustments for direct financing leases to a cash basis, unrealized gains (loss) on derivative instruments, realized losses on interest rate swaps, realized losses on interest rate swap amendments and terminations, loss on deconsolidation of Teekay Offshore, writedowns related to equity-accounted investments, and our share of the above items in non-consolidated joint ventures which are accounted for using the equity method of accounting. </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Consolidated Adjusted EBITDA</font><font style="font-family:Arial;font-size:10pt;">&#32;represents Adjusted EBITDA from vessels that are consolidated on the Company's financial statements. </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">&#32;Adjusted EBITDA from Equity-Accounted Vessels</font><font style="font-family:Arial;font-size:10pt;">&#32;represents the Company's proportionate share of Adjusted EBITDA from its equity-accounted vessels. The Company does not have the unilateral ability to determine whether the cash generated by its equity-accounted vessels is retained within the entity in which the Company holds the equity-accounted investments or distributed to the Company and other owners. In addition, the Company does not control the timing of any such distributions to the Company and other owners. Adjusted EBITDA is a non-GAAP financial measure used by certain investors and management to measure the operational performance of companies. Please refer to </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Appendices C </font><font style="font-family:Arial;font-size:10pt;">and </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">E</font><font style="font-family:Times New Roman;font-size:10pt;font-style:italic;">&#32;</font><font style="font-family:Arial;font-size:10pt;">of this release for reconciliations of Adjusted EBITDA to net income (loss) and equity (loss) income, respectively, which are the most directly comparable GAAP measures reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Adjusted Net Loss Attributable to Shareholders of Teekay </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">excludes items of income or loss from GAAP net loss that are typically excluded by securities analysts in their published estimates of the Company&#8217;s financial results. The Company believes that certain investors use this information to evaluate the Company&#8217;s financial performance, as does management. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendix A</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;of this release for a reconciliation of this non-GAAP financial measure to net loss, and refer to footnote (3) of the statements of loss for a reconciliation of adjusted equity income to equity (loss) income, the most directly comparable GAAP measure reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="line-height:120%;padding-bottom:8px;padding-top:10px;text-align:justify;font-size:11pt;"><font style="font-family:Arial;font-size:11pt;color:#2e3337;font-weight:bold;">Teekay Parent Financial Measures</font></div><div style="line-height:120%;padding-bottom:4px;padding-top:9px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Adjusted EBITDA </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">represents the sum of (a) distributions or dividends (including payments-in-kind) relating to a given quarter (but received by Teekay Parent in the following quarter) as a result of ownership interests in its consolidated publicly-traded subsidiaries (Teekay LNG and Teekay Tankers) and its equity-accounted investment in Teekay Offshore, net of Teekay Parent&#8217;s corporate general and administrative expenditures for the given quarter and (b) Adjusted EBITDA attributed to Teekay Parent&#8217;s directly-owned and chartered-in assets. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Free Cash Flow</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;represents </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Teekay Parent Adjusted EBITDA</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, less Teekay Parent&#8217;s net interest expense and dry-dock expenditures for the given quarter. </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Net Interest Expense</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;includes interest expense, interest income and realized losses on interest rate swaps. Please refer to </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">Appendices B</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">, </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">C, D</font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;font-style:italic;">E </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">of this release for further details and reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures reflected in the Company&#8217;s consolidated financial statements. </font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">9</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4BC31AA42E9D5B8FBDEDAD03F838C938"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Consolidated Statements of Loss</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:440px;"></td><td style="width:1px;"></td><td style="width:76px;"></td><td style="width:3px;"></td><td style="width:1px;"></td><td style="width:76px;"></td><td style="width:3px;"></td><td style="width:1px;"></td><td style="width:76px;"></td><td style="width:3px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="9" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#2ea2c8;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Revenues</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">481,213</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">491,532</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">394,022</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Voyage expenses </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(103,123</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(117,199</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(85,877</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Vessel operating expenses </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(156,992</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(162,268</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(157,935</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Time-charter hire expense </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(29,838</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(25,434</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(19,411</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Depreciation and amortization </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(72,107</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(71,069</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(67,311</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">General and administrative expenses</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(22,972</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(26,751</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(24,183</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Asset impairments </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(3,328</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(18,662</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Restructuring charges </font><font style="font-family:Arial;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(8,621</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(2,138</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">Income from vessel operations</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">84,232</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">88,811</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">18,505</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:12px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Interest expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(73,671</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(72,632</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(54,625</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Interest income</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">2,689</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">2,650</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">1,677</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Realized and unrealized (loss) gain on</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#160;&#160;&#160;non-designated derivative instruments</font><font style="font-family:Arial;font-size:8pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(2)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(5,423</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(32,833</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">9,426</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Equity (loss) income </font><font style="font-family:Arial;font-size:8pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">(3)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(61,653</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">19,356</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Income tax expense</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(5,036</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(6,727</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(4,117</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Foreign exchange (loss) gain</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(2,630</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(5,764</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">22</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Loss on deconsolidation of Teekay Offshore</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(7,070</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Other income (loss) &#8211; net</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">28</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">782</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(915</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">Net loss</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(61,464</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(6,357</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Net income attributable to</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#160;&#160;non-controlling interests</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(22,793</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(11,996</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(10,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">Net loss attributable to the shareholders of</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">&#160;&#160;&#160;Teekay Corporation</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(84,257</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(18,353</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Loss per common share of Teekay Corporation</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#f4faff;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;-     Basic and Diluted</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#f4faff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(0.84</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#f4faff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(0.18</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#f4faff;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">$</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">(0.21</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">Weighted-average number of common </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#160;&#160;&#160;shares outstanding  </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;-     Basic and Diluted</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">100,520,421</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">100,435,155</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2f3337;">97,333,503</font></div></td><td style="vertical-align:bottom;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)   Restructuring charges for the three months ended March 31, 2019 included approximately $6.5 million related to severance costs resulting from the termination of certain management services contracts in Teekay Parent, which were fully recovered from the customer and such recovery is included in Revenues.  The remaining amount relates to severance costs associated with the sale and termination of the charter contract of the&#160;</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Toledo Spirit </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Suezmax tanker in Teekay LNG.</font></div><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">10</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;background-color:#ffffff;color:#2e3337;">(2) </font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Realized and unrealized (losses) gains related to derivative instruments that are not designated as hedges for accounting purposes are included as a separate line item in the consolidated statements of loss. The realized (losses) gains relate to the amounts the Company actually paid to settle such derivative instruments and the unrealized (losses) gains relate to the change in fair value of such derivative instruments, as detailed in the table below:</font></div></td></tr></table><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:684px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:12px;"></td><td style="width:408px;"></td><td style="width:84px;"></td><td style="width:4px;"></td><td style="width:84px;"></td><td style="width:4px;"></td><td style="width:84px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="6" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Realized (losses) gains relating to:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Interest rate swap agreements</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,688</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,354</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(4,809</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Forward freight agreements</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,701</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,080</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(4,809</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Unrealized (losses) gains relating to:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Interest rate swap agreements</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,021</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(10,469</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">15,919</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Stock purchase warrants</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,316</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(20,202</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,684</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Forward freight agreements</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(17</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(82</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,722</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(30,753</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">14,235</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Total realized and unrealized (losses) gains on derivative instruments</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,423</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(32,833</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">9,426</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:left;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)    The Company&#8217;s proportionate share of items within equity (loss) income as identified in Appendix A of this release is detailed in the table below. By excluding these items from equity (loss) income as reflected in the consolidated statements of loss, the Company believes the resulting adjusted equity income is a normalized amount that can be used to evaluate the financial performance of the Company&#8217;s equity-accounted investments. Adjusted equity income is a non-GAAP financial measure. </font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:12px;"></td><td style="width:428px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:77px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:20px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="6" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity (loss) income:</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,653</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">19,356</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Proportionate share of unrealized losses (gains) on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,765</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">15,387</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(19,477</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Write-down of investment in Teekay Offshore</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(i)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">64,900</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Other</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(ii)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(10,411</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,532</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity income adjusted for items in Appendix A </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">12,012</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">24,332</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">9,172</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:justify;padding-left:25px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(i)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">The Company wrote-down its equity-accounted investment in Teekay Offshore as a result of the sale of all of the Company's remaining interests in Teekay Offshore to Brookfield in May 2019. The Company expects to recognize a further loss on sale of approximately $10 million, some of which will be presented in realized and unrealized gains and losses on non-designated derivatives, in the second quarter of 2019.  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(ii)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Other for the three months ended December 31, 2018 includes the Company's gain on the sale of its 43.5% stake in Magnora ASA (or&#160;</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Magnora</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">, previously Sevan Marine ASA) and the Company's proportionate share of write-downs and gain on sale of vessels by Teekay Offshore and a decrease in the deferred income tax asset for Teekay Offshore's Norwegian tax structure.&#160;Other for the three months ended March 31, 2018 includes the Company's proportionate share of the gain (loss) on sale of vessels, equipment and other operating assets in Teekay LNG's Exmar LPG joint venture, partially offset by the impairment of two shuttle tankers in Teekay Offshore, transaction fees relating to the historical amendment of certain interest rate swaps in Teekay Offshore, depreciation expense as a result of the change in the useful life and residual value estimates of certain of Teekay Offshore's shuttle tankers, a decrease in the deferred income tax asset for Teekay Offshore's Norwegian tax structure and the write-down of loans receivable from Gemini Tankers LLC.&#160;</font></div></td></tr></table><div style="line-height:120%;text-align:justify;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">11</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s0D88BBDEBDF75C438B4D6A9853BDB95A"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Consolidated Balance Sheets</font></div><div style="line-height:120%;padding-left:0px;font-size:10pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:685px;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:430px;"></td><td style="width:122px;"></td><td style="width:4px;"></td><td style="width:122px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">As at March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">As at December 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">ASSETS</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Cash and cash equivalents - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">213,090</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">220,238</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Cash and cash equivalents - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">122,589</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">149,014</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Cash and cash equivalents - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">75,045</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">54,917</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Current portion of loans to equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">153,409</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">169,197</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Other current assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">259,888</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">251,527</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Restricted cash - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,040</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,030</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Restricted cash - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">78,015</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">73,850</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Restricted cash - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,524</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,590</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Vessels and equipment - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">292,653</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">304,049</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Vessels and equipment - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">3,403,379</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,242,581</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Vessels and equipment - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,864,425</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,883,561</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Operating lease right-of-use assets </font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">173,945</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Advances on newbuilding contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">86,942</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Net investment in direct financing leases</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">571,796</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">575,163</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Investments in and loans to equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,106,572</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">1,193,741</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Other non-current assets</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">159,115</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">179,270</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;font-weight:bold;">Total Assets</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">8,481,485</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">8,391,670</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">LIABILITIES AND EQUITY</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Accounts payable and accrued liabilities and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">268,897</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">254,380</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Advances from affiliates</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">64,406</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">75,292</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Current portion of long-term debt - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">255,458</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Current portion of long-term debt - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">201,362</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">217,120</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Current portion of long-term debt - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">146,843</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">127,132</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Long-term debt - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">349,637</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">614,341</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Long-term debt - Teekay LNG</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">3,121,709</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,051,212</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Long-term debt - Teekay Tankers</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">939,222</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">983,563</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Derivative liabilities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">75,244</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">68,557</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Operating lease liabilities </font><font style="font-family:Arial;font-size:9pt;color:#333333;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">161,479</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Other long-term liabilities </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">141,138</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">133,045</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Equity:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Non-controlling interests</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,040,496</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,058,037</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Shareholders of Teekay</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">715,594</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">808,991</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;font-weight:bold;">Total Liabilities and Equity</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">8,481,485</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">8,391,670</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:44px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Net debt - Teekay Parent</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">389,965</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">392,073</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Net debt - Teekay LNG</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,122,467</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,045,468</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Net debt - Teekay Tankers</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,005,496</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,050,188</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:13px;text-align:justify;padding-left:24px;text-indent:-24px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)    Upon adoption of the new lease accounting standard on January 1, 2019, the Company's long-term chartered-in vessels, with lease terms of more than one year, are now treated as operating lease right-of-use assets and operating lease liabilities. This resulted in an increase in the Company&#8217;s assets and liabilities by $161.5 million at March 31, 2019. </font></div><table cellpadding="0" cellspacing="0" style="padding-top:13px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net debt is a non-GAAP financial measure and represents current and long-term debt less cash and cash equivalents and, if applicable,      restricted cash.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">12</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sE8EC1C532D9E5F428D349F66FC4A6643"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Consolidated Statements of Cash Flows</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="5"></td></tr><tr><td style="width:473px;"></td><td style="width:101px;"></td><td style="width:4px;"></td><td style="width:101px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Cash, cash equivalents and restricted cash provided by (used for)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">OPERATING ACTIVITIES</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Net income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,464</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Non-cash and non-operating items: </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">72,107</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Unrealized loss (gain) on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,642</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(37,309</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">18,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Loss on deconsolidation of Teekay Offshore</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity loss (income), net of dividends received</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">68,661</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(26,369</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Income tax expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,036</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Foreign exchange loss and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">7,236</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">29,697</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Direct financing lease payments received</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,025</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Change in operating assets and liabilities </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">16,295</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(11,635</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Expenditures for dry docking</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,712</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,454</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net operating cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">105,154</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">33,110</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;font-weight:bold;">FINANCING ACTIVITIES</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Proceeds from issuance of long-term debt, net of issuance costs</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">138,082</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">263,920</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Prepayments of long-term debt</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(176,581</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(237,824</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Scheduled repayments of long-term debt</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(54,877</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(64,501</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Proceeds from financing related to sales-leaseback of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">158,680</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">126,273</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Repayments of obligations related to finance leases</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(23,199</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(15,246</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Net proceeds from equity issuances of Teekay Corporation</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">103,696</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Repurchase of Teekay LNG common units</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,497</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Distributions paid from subsidiaries to non-controlling interests</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13,892</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(19,824</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Cash dividends paid</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,523</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,514</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Other financing activities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(24</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(524</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net financing cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">13,169</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">150,456</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">INVESTING ACTIVITIES</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Expenditures for vessels and equipment</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(124,540</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(168,287</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Proceeds from sale of equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">54,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Investment in equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,864</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(19,604</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Cash of transferred subsidiaries on sale, net of proceeds received</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(25,254</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Other investing activities</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(255</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,358</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net investing cash flow</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(127,659</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(156,349</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(Decrease) increase in cash, cash equivalents and restricted cash</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,336</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:36px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">27,217</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Cash, cash equivalents and restricted cash, beginning of the period</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">505,639</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">552,174</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Cash, cash equivalents and restricted cash, end of the period</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">496,303</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">579,391</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">13</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s3ACF4D7D3D635D759748E184F2CBDB5B"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix A - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Adjusted Net Loss</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:9pt;">(in thousands of U.S. dollars, except per share data)</font><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="14"></td></tr><tr><td style="width:2%;"></td><td style="width:41%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:9%;"></td><td style="width:1%;"></td><td style="width:8%;"></td><td style="width:1%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:7%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="12" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$ Per </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$ Per </font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$ Per </font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$ </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">$</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Share</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net loss &#8211; GAAP basis</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,464</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,357</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Adjust for: Net income attributable to</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;non-controlling interests </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(22,793</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(11,996</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(10,575</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net loss attributable to</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;font-weight:bold;">shareholders of Teekay </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(84,257</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.84</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(18,353</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.18</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(20,555</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.21</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;font-weight:bold;">(Subtract) add specific items affecting net loss</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Unrealized losses (gains) from derivative</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;instruments</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">12,488</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.12</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">46,140</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.46</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(34,452</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.35</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Foreign exchange loss (gains)</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,196</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,526</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.04</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,399</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Write-down and loss on sale of vessels <br>    and other assets</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(4)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">68,228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.68</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,697</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.04</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">16,839</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.18</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Restructuring charges, net of recoveries</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,138</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Loss on deconsolidation of Teekay Offshore</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.07</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Other</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(5)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,998</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.02</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(12,526</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.12</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,650</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.05</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Non-controlling interests&#8217; share of items above</font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(6)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,766</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.15</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(25,498</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(0.26</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">6,385</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.06</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Total adjustments </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">71,302</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.71</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">16,339</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.16</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,231</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">0.02</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Adjusted net loss attributable to</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;font-weight:bold;">shareholders of Teekay </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(12,955</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.13</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(2,014</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.02</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(18,324</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(0.19</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:12px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr></table></div></div><table cellpadding="0" cellspacing="0" style="padding-top:8px;padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">Basic per share amounts.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">Reflects the unrealized losses (gains) relating to the change in the mark-to-market value of derivative instruments that are not designated as hedges for accounting purposes, including those investments included in the Company's proportionate share of equity income (loss) from joint ventures, and hedge ineffectiveness from derivative instruments designated as hedges for accounting purposes. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">Foreign currency exchange gains primarily relate to the Company&#8217;s debt denominated in Euros and Norwegian Kroner (</font><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;font-style:italic;">NOK</font><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">) and unrealized losses on cross currency swaps used to economically hedge the principal and interest on NOK bonds. Nearly all of the Company&#8217;s foreign currency exchange gains and losses are unrealized.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">For details on the write-down and loss on sale of vessels and other assets for the three months ended March 31, 2019, refer to footnote (3) of the summary consolidated statement of loss. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(5)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">Includes the loan extinguishment costs related to Teekay LNG's refinancing of one of its debt facilities for the three months ended March 31, 2019. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:7.5pt;padding-left:0px;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">(6)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:7.5pt;"><font style="font-family:Arial;font-size:7.5pt;color:#2e3337;">Items affecting net loss include items from the Company&#8217;s consolidated non-wholly-owned subsidiaries. The specific items affecting net loss are analyzed to determine whether any of the amounts originated from a consolidated non-wholly-owned subsidiary. Each amount that originates from a consolidated non-wholly-owned subsidiary is multiplied by the non-controlling interests&#8217; percentage share in this subsidiary to determine the non-controlling interests&#8217; share of the amount. The amount identified as &#8220;Non-controlling interests&#8217; share of items above&#8221; in the table above is the cumulative amount of the non-controlling interests&#8217; proportionate share of items listed in the table. </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">14</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s758EF7991559529A80AE2129127D0AA8"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix B - Supplemental Financial Information</font></div><div style="line-height:120%;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Summary Statement of Income (Loss) for the Three Months Ended </font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">March&#160;31, 2019</font><font style="font-family:Arial;font-size:13pt;color:#40b4e5;">&#32;</font></div><div style="line-height:120%;padding-top:2px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(unaudited)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:1%;"></td><td style="width:39%;"></td><td style="width:10%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td><td style="width:12%;"></td><td style="width:1%;"></td><td style="width:11%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Consolidation </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">LNG </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Tankers</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Parent</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Adjustments</font><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Revenues </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">149,744</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">232,501</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">100,097</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,129</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">481,213</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Voyage expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,775</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(97,339</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(103,123</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Vessel operating expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(26,101</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(54,587</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(77,433</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,129</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(156,992</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Time-charter hire expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,591</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,448</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,799</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(29,838</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(34,126</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(29,865</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,116</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(72,107</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">General and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,632</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,165</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(7,175</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(22,972</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Restructuring charges </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,158</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,463</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,621</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Income (loss) from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">69,361</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">32,097</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(17,226</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">84,232</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(42,217</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(16,942</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,578</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">66</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(73,671</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest income </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,078</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">365</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,312</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(66</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,689</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Realized and unrealized (loss) gain on</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">non-designated derivative instruments   </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,617</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(847</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,041</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,423</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,578</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">753</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(67,984</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,653</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Equity in earnings of subsidiaries</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">13,779</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13,779</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Income tax (expense) recovery</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,578</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,614</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">156</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,036</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Foreign exchange loss</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(731</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(412</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,487</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,630</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Other income (loss) &#8211; net</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">251</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">47</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(270</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">28</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net income (loss)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">24,125</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">12,447</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(84,257</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13,779</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,464</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Net income attributable to</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">non-controlling interests</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,508</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(20,285</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(22,793</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net income (loss) attributable to shareholders/</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">unitholders of publicly-listed entities</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">21,617</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">12,447</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(84,257</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(34,064</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(84,257</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Consolidation Adjustments column includes adjustments which eliminate transactions between Teekay LNG, Teekay Tankers and Teekay Parent.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Teekay Corporation&#8217;s proportionate share of the net earnings of its publicly-traded subsidiaries.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:24px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Net income attributable to non-controlling interests in the Teekay LNG column represents the joint venture partners&#8217; share of the net income of its respective consolidated joint ventures. Net income attributable to non-controlling interest in the Consolidation Adjustments column represents the public&#8217;s share of the net income of Teekay&#8217;s publicly-traded consolidated subsidiaries.</font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">15</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s25FD6934D5295000B8775A0D61DC100B"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix C - Supplemental Financial Information </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Parent Summary Operating Results </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">For the Three Months Ended </font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">March&#160;31, 2019</font><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">&#32;</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(unaudited)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:40%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td><td style="width:14%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Teekay </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">FPSOs</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Other</font><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">GPCO</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Total </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">49,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">50,659</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">100,097</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Voyage expenses </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Vessel operating expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(36,925</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(40,508</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(77,433</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Time-charter hire expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(11,102</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,697</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,799</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,036</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(80</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,116</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">General and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,595</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(96</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(4,484</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(7,175</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Restructuring charges </font><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,463</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,463</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">Loss from vessel operations</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(12,557</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(185</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(4,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(17,226</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,036</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">80</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,116</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Asset impairments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">Amortization of in-process revenue </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2f3337;">&#160;&#160;&#160;contracts and other </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,919</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">804</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,115</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Daughter entities distributions </font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,095</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,095</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Teekay Parent adjusted EBITDA</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(3,112</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">699</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">611</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,802</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes the results of two chartered-in FSO units owned by Teekay Offshore.  </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">The restructuring charges are related to seafarers' severance amounts, which were fully recovered from the customer and such recovery is included in Revenues.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:28px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">In addition to the adjusted EBITDA generated by its directly owned and chartered-in assets, Teekay Parent also receives cash distributions from its consolidated publicly-traded subsidiary, Teekay LNG. For the three months ended </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">March&#160;31, 2019</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">, Teekay Parent received cash distributions from Teekay LNG totaling </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">$5.1 million</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">, including those made with respect to its general partner interests in Teekay LNG.  Distributions received for a given quarter consist of the amount of distributions relating to such quarter but received by Teekay Parent in the following quarter. Please refer to </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendix D</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;of this release for further details.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:28px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">16</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sFADFFB65F8985026BD1DBA474455FF69"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix D - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Parent Free Cash Flow</font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.80506822612085%;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:1%;"></td><td style="width:51%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:15%;"></td><td style="width:1%;"></td><td style="width:15%;"></td><td style="width:1%;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;color:#ffffff;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY PARENT GPCO </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Daughter Entities distributions to Teekay Parent</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;Limited Partner interests</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,790</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,529</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,529</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">566</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;GP interests </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">305</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">227</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">228</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)(4)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">16</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;Other Dividends </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Tankers</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)(5)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Offshore</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Total Daughter Entity Distributions to Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,095</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,756</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,339</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Corporate general and </font><font style="font-family:Arial;font-size:9pt;color:#2f3337;">administrative expenses</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(4,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,134</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,647</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Total Teekay Parent GPCO </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">611</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,378</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,308</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">TEEKAY PARENT OPCO </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Teekay Parent OPCO </font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(6)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;FPSOs</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,112</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,737</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">13,538</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;&#160;&#160;&#160;&#160;&#160;Other</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">699</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">722</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">992</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Total Teekay Parent OPCO </font><font style="font-family:Arial;font-size:9pt;color:#2f3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(7)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(2,413</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">4,459</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">14,530</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="overflow:hidden;height:10px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">TEEKAY PARENT ADJUSTED EBITDA</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,802</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">3,081</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">13,222</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">Net interest expense</font><font style="font-family:Arial;font-size:9pt;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(8)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(11,961</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,081</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(16,434</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:28px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">TOTAL TEEKAY PARENT FREE CASH FLOW</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(13,763</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(11,000</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(3,212</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup></font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Weighted-average number of common shares - Basic </font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">100,520,421</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">100,435,155</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">97,333,503</font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Daughter Entities dividends and distributions for a given quarter consist of the amount of dividends and distributions relating to such quarter but received by Teekay Parent in the following quarter. </font></div></td></tr></table><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">17</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Common share/unit dividend/distribution cash flows to Teekay Parent are based on Teekay Parent&#8217;s ownership on the ex-dividend date for the respective publicly-traded subsidiary and equity-accounted investment in Teekay Offshore for the periods as follows:</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="10"></td></tr><tr><td style="width:388px;"></td><td style="width:16px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:16px;"></td><td style="width:73px;"></td><td style="width:4px;"></td><td style="width:16px;"></td><td style="width:89px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="8" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="3" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay LNG </font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Distribution per common unit </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.19</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.14</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Common units owned by  </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Parent </font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,208,274</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total distribution </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,789,572</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,529,158</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Offshore </font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Distribution per common unit </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">0.01</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Common units owned by  </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;background-color:#eef8fc; font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Teekay Parent </font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">56,587,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">56,587,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">56,587,484</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total distribution </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">565,875</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay Tankers </font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">&#160;</sup>&#160;</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Dividend per share </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Shares owned by Teekay Parent</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,298,441</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,298,441</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">&#160;</font></div></td><td style="vertical-align:middle;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">77,298,441</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#160;&#160;&#160;&#160;Total dividend </font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;background-color:#eef8fc;color:#2e3337;">$</font></div></td><td style="vertical-align:middle;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">In July 2018, Brookfield exercised its option to acquire an additional 2% ownership interest in Teekay Offshore's general partner from Teekay. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(4)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">For the first three quarters of 2018, Teekay Offshore paid a quarterly distribution of $0.01 per common unit. Commencing with the distribution for the fourth quarter of 2018, Teekay Offshore's Board reduced the quarterly distribution to zero.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(5)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Includes Class A and Class B shareholdings. Teekay Tankers' past dividend policy was to pay out 30 percent to 50 percent of its quarterly adjusted net income (as defined), with a minimum quarterly dividend of $0.03 per share, subject to reserves the Teekay Tankers' Board of Directors may determine are necessary for the prudent operation of Teekay Tankers. Commencing with the dividend for the first quarter of 2018, Teekay Tankers' Board of Directors eliminated the minimum quarterly dividend; however, the variable portion of the dividend policy was maintained.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(6)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Please refer to </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendices C</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;and </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">E</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;for additional financial information on Teekay Parent&#8217;s adjusted EBITDA.</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(7)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Excludes corporate general and administrative expenses relating to Teekay Parent GPCO. </font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-bottom:4px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:36px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(8)</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">Please see </font><font style="font-family:Arial;font-size:8pt;color:#2e3337;font-style:italic;">Appendix E</font><font style="font-family:Arial;font-size:8pt;color:#2e3337;">&#32;to this release for a description of this measure and a reconciliation of this non-GAAP financial measure as used in this release to interest expense net of interest income, the most directly comparable GAAP financial measure.</font></div></td></tr></table><div style="line-height:120%;padding-bottom:4px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">18</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sDEF0577893F05E299F0DE8F7D9A4558C"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation</font></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Non-GAAP Financial Reconciliations</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">19</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div><a name="s8F43D44AFF0E58BAB523EC3FD109A97E"></a></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Adjusted EBITDA - Consolidated </font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:680px;border-collapse:collapse;text-align:left;"><tr><td colspan="8"></td></tr><tr><td style="width:16px;"></td><td style="width:372px;"></td><td style="width:92px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:94px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;font-weight:bold;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Net loss  </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(61,464</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(6,357</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(9,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">72,107</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">71,069</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">67,311</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Interest expense, net of interest income</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">70,982</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">69,982</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">52,948</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Income tax expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">5,036</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">6,727</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">4,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">EBITDA</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">86,661</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">141,421</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">114,396</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Specific income statement items affecting EBITDA:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Asset impairments and loss on sale of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">3,328</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">18,662</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Direct finance lease payments received in excess of revenue recognized </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">3,218</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">2,475</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">2,887</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Amortization of in-process contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(1,115</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(2,609</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(2,469</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Realized and unrealized loss (gain) on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">5,423</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">32,833</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(9,426</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Equity loss (income)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">61,653</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(19,356</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Foreign currency exchange loss</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">2,630</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">5,764</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(22</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Loss on deconsolidation of Teekay Offshore</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">7,070</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:12px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;padding-left:12px;text-indent:-12px;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Other (income) expense - net</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(28</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">(782</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">915</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Consolidated Adjusted EBITDA</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">161,770</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">159,746</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">104,896</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#333333;">Adjusted EBITDA from equity-accounted vessels (</font><font style="font-family:Arial;font-size:9pt;color:#333333;font-style:italic;">See Appendix E</font><font style="font-family:Arial;font-size:9pt;color:#333333;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">75,190</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">86,929</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">63,468</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Total Adjusted EBITDA</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">236,960</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">246,675</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">168,364</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#f4faff;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">20</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s4AFAEE4AF6B352C08CDF9856A0E602BC"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Adjusted EBITDA &#8211; Equity-Accounted Vessels </font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:686px;border-collapse:collapse;text-align:left;"><tr><td colspan="14"></td></tr><tr><td style="width:16px;"></td><td style="width:220px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td><td style="width:70px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="12" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended  </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March&#160;31, 2019</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December&#160;31, 2018</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March&#160;31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td><td colspan="4" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited) </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Company's </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Company's </font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">At</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Company's </font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Portion</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Portion</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">100%</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Portion</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(1)</sup></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Revenues</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">494,729</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">119,506</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">601,685</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">136,738</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">466,765</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">111,857</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Voyage expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(36,946</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,237</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(43,289</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(7,502</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(37,567</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(6,214</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Vessel operating expenses, time-charter hire expense and general and administrative expenses</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(182,153</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(42,112</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(194,623</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(46,201</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(198,344</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(45,839</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Depreciation and amortization </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(112,611</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(25,918</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(129,669</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(28,917</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(125,756</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(27,181</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments and loss on sale of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(26,292</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,697</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(25,493</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(3,775</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Income from vessel operations of equity-accounted vessels </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">163,019</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">45,239</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">207,812</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">50,421</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">79,605</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">28,848</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Net interest expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(105,894</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(28,856</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(103,802</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(28,380</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(75,131</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(20,841</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Income tax expense</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,176</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,388</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,586</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(785</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(26</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Realized and unrealized (loss) gain on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(48,296</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(10,033</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(68,208</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(16,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">65,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">14,588</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Other expense - net</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(12,581</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,715</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(9,065</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(577</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,869</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,028</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(Writedowns) and gains on sale of equity-accounted investments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(64,900</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">15,302</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">5,563</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net (loss) income / equity (loss) income of equity-accounted vessels </font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(8,928</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(61,653</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">21,151</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">19,356</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">72,297</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">27,117</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:14px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:normal;">Net (loss) income / equity (loss) income of equity-accounted vessels </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,928</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(61,653</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">21,151</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">19,356</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">72,297</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">27,117</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">112,611</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">25,918</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">129,669</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">28,917</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">125,756</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">27,181</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest expense, net of interest income</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">105,894</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">28,856</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">103,802</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">28,380</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">75,131</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">20,841</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Income tax expense</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,176</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,388</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,586</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">785</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">26</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">EBITDA</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">214,753</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,491</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">260,208</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">77,438</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">273,210</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">75,152</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="4" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:normal;">Specific income statement items affecting EBITDA:</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Asset impairments and loss on sale of vessels</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">26,292</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,697</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">25,493</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">3,775</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Direct finance lease payments received in excess of revenue recognized </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">14,689</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,133</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">14,057</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">5,066</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">13,773</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">4,665</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Amortization of in-process contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,722</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(936</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,804</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(965</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(6,190</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,062</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized and unrealized loss (gain) on derivative instruments</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">48,296</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">10,033</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">68,208</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">16,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(65,980</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(14,588</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Realized (loss) gain on foreign currency forward contracts</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,175</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(165</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,470</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(207</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">431</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">61</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Other (income) expense - net</font><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(2)</sup></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">12,581</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,716</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">9,065</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">577</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(1,869</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">1,028</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">Write-down and (gain) on sale of equity-accounted investments</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">64,900</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(15,302</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(5,563</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;background-color:#eef8fc;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Adjusted EBITDA from equity-accounted vessels</font><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;"><sup style="vertical-align:top;line-height:120%;font-size:6pt">(3)</sup></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">287,422</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">75,190</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">374,556</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">86,929</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">238,868</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1.5px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">63,468</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;border-top:1.5px solid #279fc7;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">21</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(1)  The Company&#8217;s proportionate share of its equity-accounted vessels and other investments, including its investment in Teekay Offshore, ranges from 14 percent to 52 percent.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(2)  For the three months ended December 31, 2018, includes a gain on the sale of Teekay's 43.5% stake in Magnora in November 2018.&#160;For the three months ended March 31, 2018, includes a gain on the sale of Teekay LNG's 50% ownership interest in the Excelsior Joint Venture.</font></div><div style="line-height:120%;padding-bottom:4px;text-align:justify;padding-left:18px;text-indent:-18px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;color:#2e3337;">(3) Adjusted EBITDA from equity-accounted vessels represents the Company&#8217;s proportionate share of adjusted EBITDA from its equity-accounted vessels and other investments.</font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">22</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="sA3F7AFCA7658529194895ADA157833F1"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures</font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Adjusted EBITDA - Teekay Parent </font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:682px;border-collapse:collapse;text-align:left;"><tr><td colspan="12"></td></tr><tr><td style="width:8px;"></td><td style="width:333px;"></td><td style="width:5px;"></td><td style="width:81px;"></td><td style="width:5px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended December 31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="10" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">FPSOs</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">GPCO</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Teekay Parent loss from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(2,370)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(845</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,134</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(8,349</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,035</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">39</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,074</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Amortisation of in-process revenue contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,928)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,528</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(400</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Daughter entities distributions</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,756</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">3,756</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Adjusted EBITDA &#8211; Teekay Parent</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">3,737</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">722</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,378</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">3,081</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="13"></td></tr><tr><td style="width:8px;"></td><td style="width:330px;"></td><td style="width:5px;"></td><td style="width:80px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:77px;"></td><td style="width:4px;"></td><td style="width:5px;"></td><td style="width:78px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended March 31, 2018</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="11" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2e3337;font-weight:bold;">Teekay</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Parent</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">FPSOs</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Other</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">GPCO</font></div></td><td colspan="3" style="vertical-align:bottom;background-color:#cfebf5;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Total</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Teekay Parent income (loss) from vessel operations</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">6,882</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">549</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(5,647</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,784</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Depreciation and amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,594</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">20</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">8,614</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Amortisation of in-process revenue contracts and other</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,938</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">423</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(1,515</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Daughter entities distributions</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#8212;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,339</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">4,339</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="2" style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Adjusted EBITDA &#8211; Teekay Parent</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">13,538</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">992</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(1,308</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-right:20px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">13,222</font></div></td><td style="vertical-align:bottom;border-bottom:1.5px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">23</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s88D942E122845806ADBC6F11840E4D64"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Teekay Corporation </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Net Interest Expense - Teekay Parent </font></div><div style="line-height:120%;text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">(in thousands of U.S. dollars)</font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:683px;border-collapse:collapse;text-align:left;"><tr><td colspan="9"></td></tr><tr><td style="width:9px;"></td><td style="width:72px;"></td><td style="width:310px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td><td style="width:93px;"></td><td style="width:4px;"></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="6" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">Three Months Ended</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">December 31,</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">March 31,</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2019</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">2018</font></div></td></tr><tr><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;">&#160;</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td><td colspan="2" style="vertical-align:middle;background-color:#279fc7;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:center;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#ffffff;font-weight:bold;">(unaudited)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest expense </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(73,671</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(72,632</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(54,625</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest income </font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,689</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">2,650</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,677</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest expense net of interest income consolidated </font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(70,982</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(69,982</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(52,948</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Less: Non-Teekay Parent interest expense net of</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">&#160;</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;"><br></font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">interest income</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(57,716</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(55,223</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(36,363</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Interest expense net of interest income - Teekay Parent</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(13,266</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(14,759</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(16,585</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Teekay Parent non-cash accretion and loan cost amortization</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">1,562</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">969</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">673</font></div></td><td style="vertical-align:bottom;background-color:#eef8fc;"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">Teekay Parent realized losses on interest rate swaps</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(257</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(291</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">(522</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;">)</font></div></td></tr><tr><td colspan="3" style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">Net interest expense - Teekay Parent </font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(11,961</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(14,081</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:right;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">(16,434</font></div></td><td style="vertical-align:bottom;border-bottom:2px solid #279fc7;background-color:#eef8fc;padding-right:28px;padding-top:2px;padding-bottom:2px;border-top:1px solid #279fc7;"><div style="text-align:left;font-size:9pt;"><font style="font-family:Arial;font-size:9pt;color:#2f3337;font-weight:bold;">)</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:120%;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">24</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><hr style="page-break-after:always"><div><a name="s73E07A707A985E8CB9CDEE8CCCDE0D4E"></a></div><div style="font-family:Times New Roman;"><div style="line-height:120%;text-align:center;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:99.609375%;border-collapse:collapse;text-align:left;"><tr><td colspan="2"></td></tr><tr><td style="width:50%;"></td><td style="width:50%;"></td></tr><tr><td style="vertical-align:middle;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div><img src="colorlogo05.jpg" alt="colorlogo05.jpg" style="height:45px;width:136px;"></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:57px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;color:#40b4e5;">Forward Looking Statements </font></div><div style="line-height:120%;text-align:justify;font-size:15pt;"><font style="font-family:Arial;font-size:15pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,as amended) which reflect management&#8217;s current views with respect to certain future events and performance, including statements, among other things, regarding: Teekay Parent&#8217;s delevering and financial flexibility; expected reductions in Teekay Parent&#8217;s interest expense and increases in its free cash flow resulting from reductions in Teekay Parent&#8217;s gross debt; strengthening of the global tanker market in the second half of 2019 into 2020; improving tanker and gas shipping market fundamentals; Teekay Parent's ability </font><font style="font-family:Arial;font-size:10pt;color:#2e3337;">to create greater long-term value; </font><font style="font-family:Arial;font-size:10pt;">a tanker market recovery that would increase Teekay Tankers&#8217; cash flows and asset values; and the ability of Teekay LNG to return capital to unitholders while also continuing to delever its balance sheet. The following factors are among those that could cause actual results to differ materially from the forward-looking statements, which involve risks and uncertainties, and that should be considered in evaluating any such statement: market or counterparty reaction to changes in exploration, production and storage of offshore oil and gas, either generally or in particular regions that would impact expected future growth; changes in the demand for oil, refined products, LNG or LPG; changes in trading patterns significantly affecting overall vessel tonnage requirements; greater or less than anticipated levels of vessel newbuilding orders and deliveries and greater or less than anticipated rates of vessel scrapping; changes in global oil prices; issues with vessel operations; increased operating expenses; potential project delays or cancellations; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations; the effects of IMO 2020; the potential for early termination of long-term contracts of existing vessels; delays in the commencement of charter or other contracts; the ability to fund remaining capital commitments and debt maturities; and other factors discussed in Teekay&#8217;s filings from time to time with the SEC, including its Annual Report on Form 20-F for the fiscal year ended December 31, 2018. Teekay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Teekay&#8217;s expectations with respect thereto or any change in events, conditions or circumstances on which any such statement is based.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div><br></div><div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">25</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;font-weight:bold;">Teekay Corporation</font><font style="font-family:Arial;font-size:7pt;">&#32;&#32;&#32;&#32;Investor Relations Tel: +1 604 844-6654    www.teekay.com</font></div><div style="line-height:120%;text-align:center;font-size:7pt;"><font style="font-family:Arial;font-size:7pt;">4</font><font style="font-family:Arial;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">th</sup></font><font style="font-family:Arial;font-size:7pt;">&#32;Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div></div>	</body>
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