<SEC-DOCUMENT>0001628280-21-015778.txt : 20210805
<SEC-HEADER>0001628280-21-015778.hdr.sgml : 20210805
<ACCEPTANCE-DATETIME>20210805140719
ACCESSION NUMBER:		0001628280-21-015778
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210805
FILED AS OF DATE:		20210805
DATE AS OF CHANGE:		20210805

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:		211147481

	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>tkq2-21erdocument.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="i12ca0639098247cc87c6aeaaf911190a_1"></div><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:512.25pt"><tr><td style="width:1.0pt"></td><td style="width:510.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:18pt;font-weight:700;line-height:120%">UNITED STATES </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:18pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">WASHINGTON, D.C. 20549 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">_________________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:18pt;font-weight:700;line-height:120%">FORM 6-K </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">_________________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Report of Foreign Private Issuer </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Pursuant to Rule 13a-16 or 15d-16 of </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:700;line-height:120%">the Securities Exchange Act of 1934 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Date of Report&#58; August 5, 2021 </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Commission file number 1- 12874 </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">_________________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:24pt;font-weight:700;line-height:120%">TEEKAY CORPORATION </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">(Exact name of Registrant as specified in its charter) </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">_________________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:115%">4th Floor, Belvedere Building </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">69 Pitts Bay Road </font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Hamilton, HM 08 Bermuda</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:120%">(Address of principal executive offices)</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">_________________________</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:512.25pt"><tr><td style="width:1.0pt"></td><td style="width:510.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.</font></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Form 20-F </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#253;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form 40- F </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#168;</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#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></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;Yes </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#168;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#253;</font></div></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">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></td></tr><tr style="height:14pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Yes </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#168;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;No </font><font style="color:#000000;font-family:'Wingdings',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#253;</font></div></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:512.25pt"><tr><td style="width:1.0pt"></td><td style="width:510.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:3pt"><td colspan="3" style="border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td></tr></table></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_4"></div><hr style="page-break-after:always"><div style="min-height:45pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Item 1 &#8212; Information Contained in this Form 6-K Report</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Attached as Exhibit 1 is a copy of an announcement of Teekay Corporation dated August&#160;5, 2021. </font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:511.50pt"><tr><td style="width:1.0pt"></td><td style="width:226.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:25.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:10.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:241.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">TEEKAY CORPORATION</font></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date&#58; August 5, 2021</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By&#58;</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="padding:2px 1pt;text-align:justify;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#47;s&#47; Vincent Lok</font></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Vincent Lok </font></div><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)</font></div></td></tr></table></div><div><font><br></font></div><div style="height:45pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_7"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:48.175%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:49.625%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"><div style="text-align:right"><img alt="newsreleasea11.jpg" src="newsreleasea11.jpg" style="height:49px;margin-bottom:5pt;vertical-align:text-bottom;width:229px"></div></td></tr></table></div><div style="text-align:center"><font><br></font></div></div><div><font style="color:#003698;font-family:'Arial',sans-serif;font-size:19pt;font-weight:700;line-height:120%">TEEKAY CORPORATION REPORTS</font></div><div style="padding-right:31.5pt"><font style="color:#003698;font-family:'Arial',sans-serif;font-size:19pt;font-weight:700;line-height:120%">SECOND QUARTER 2021 RESULTS</font></div><div style="margin-bottom:6pt;margin-top:7pt"><font style="color:#13b3f2;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Highlights</font></div><div style="padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19.18pt">GAAP net loss attributable to shareholders of Teekay of $1.8 million, or $0.02 per share, and adjusted net income attributable to shareholders of Teekay</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> of $30 thousand in the second quarter of 2021 (excluding items listed in </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Appendix A</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> to this release).</font></div><div style="margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19.18pt">Total adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.17pt;font-weight:400;line-height:120%;position:relative;top:-3.32pt;vertical-align:baseline">(1) </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">of $171.9 million in the second quarter of 2021.</font></div><div style="margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19.18pt">Teekay Parent reduced its asset retirement obligation (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">ARO</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">) associated with the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Banff </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">FPSO by approximately $33 million in the second quarter of 2021.</font></div><div style="margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">&#8226;</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19.18pt">Teekay LNG's LNG fleet is 98 percent fixed for the remainder of 2021 and 89 percent fixed for 2022. </font></div><div style="margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19pt">Teekay Tankers c</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ounter-cyclically in-chartered three Aframax-sized vessels for periods of 18 to 24 months, plus extension options.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Hamilton, Bermuda</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:700;line-height:120%">, August&#160;5, 2021</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> - Teekay Corporation (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Teekay</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> or </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">the Company</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">) (NYSE&#58;TK) today reported results for the three and six months ended June 30, 2021. These results include the Company&#8217;s two publicly-listed consolidated subsidiaries, Teekay LNG Partners L.P. (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Teekay LNG</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">) (NYSE&#58;TGP) and Teekay Tankers Ltd. (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Teekay Tankers</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">) (NYSE&#58;TNK) (collectively, the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Daughter Entities</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">), and all remaining subsidiaries and equity-accounted investments. Teekay, together with its subsidiaries other than the Daughter Entities, is referred to in this release as </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Teekay Parent</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">. Please refer to the second quarter 2021 earnings releases of Teekay LNG and Teekay Tankers, which are available on Teekay's website at</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> </font><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;text-decoration:underline">www.teekay.com</font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">,</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">for additional information on their respective results.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Financial Summary</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:4.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:236.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="9" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#2ea2c8;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" rowspan="2" style="background-color:#2ea2c8;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">&#160;(in thousands of U.S. dollars, except per share amounts) </font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="9" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TEEKAY CORPORATION CONSOLIDATED </font></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:right"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#dffffa;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">GAAP FINANCIAL COMPARISON</font></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="text-align:right"><font><br></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325,480</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359,081</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">482,805</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) income from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(27,120)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">61,327</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">148,504</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,111</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,157</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,343</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net (loss) income attributable to the shareholders of Teekay</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,844)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">29,951</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">21,723</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) income per common share of Teekay</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.02)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.30</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.21</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#dffffa;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NON-GAAP FINANCIAL COMPARISON</font></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total adjusted EBITDA </font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">171,928</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">202,429</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">315,869</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income attributable to shareholders of Teekay </font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">30</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">11,320</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39,713</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net income per share </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">attributable to shareholders of Teekay </font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.11</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.39</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="6" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">TEEKAY PARENT </font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:24pt;text-align:right"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#dffffa;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">NON-GAAP FINANCIAL COMPARISON</font></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"><div style="padding-left:24pt;text-align:right"><font><br></font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Teekay Parent adjusted EBITDA </font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,504</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,141</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">9,716</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total Teekay Parent free cash flow </font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,181)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">4,108</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,886)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="margin-top:57pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">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="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">GAAP</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">).</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">1</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:8pt;margin-top:7pt"><font style="color:#13b3f2;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">CEO Commentary</font><font style="color:#13b3f2;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br></font></div><div style="margin-bottom:8pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8220;In the second quarter of 2021, we recorded a small consolidated adjusted net profit. Our results were down from the previous quarter mostly due to weaker spot tanker rates and a heavier-than-normal drydocking schedule in both our gas and tanker businesses,&#8221; commented Kenneth Hvid, Teekay&#8217;s President and CEO. &#8220;During the quarter, we also reached a major milestone on the path towards our strategic goal of winding down our FPSO segment.  We have now largely completed all of our remaining obligations related to the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> FPSO and its respective field, including securing a contract with the customer to assume our remaining subsea decommissioning responsibilities, which resulted in a $33 million reversal of our asset retirement obligation liability in the second quarter of 2021. At this time, our remaining material exposure to the FPSO market is effectively limited to the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Hummingbird Spirit</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> FPSO, which continues to operate under its existing contract with steady production and high uptime.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Mr. Hvid continued, &#8220;Our gas business continues to deliver solid performance and strong earnings despite a heavy drydock schedule. The outlook for the LNG shipping market is positive, as reflected in the current strong spot and time charter LNG shipping rates, which we believe should provide tailwinds for Teekay LNG through its spot market-linked charter contract as well as its upcoming charter renewals in 2022. Teekay LNG does, however, continue to have nearly all of its 2021 and a vast majority of its 2022 revenue days already secured on fixed-rate charters, which are generating consistent cash flow. Looking at our oil tanker business, although the near-term outlook is uncertain due to COVID-19, we believe many of the leading indicators for a tanker market recovery continue to improve, including planned increases in OPEC+ production, declining global oil inventories, which are below five-year average levels, and positive tanker fleet supply fundamentals as reflected in</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> a low orderbook, heightened scrapping and a very limited amount of new tanker orders</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. In anticipation of a tanker market recovery, Teekay Tankers counter-cyclically in-chartered three vessels for periods of 18 to 24 months with extension options.&#8221;</font></div><div style="text-align:justify"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:5pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">2</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_10"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:8pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Summary of Results </font></div><div style="margin-bottom:8pt;margin-top:12pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Teekay Corporation Consolidated</font></div><div style="margin-bottom:8pt;margin-top:12pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's consolidated GAAP net loss and adjusted net income</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for the second quarter of 2021, compared to GAAP net income and adjusted net income for the second quarter of 2020, were negatively impacted by lower earnings from Teekay Tankers as a result of lower average spot tanker rates during the second quarter of 2021 and the expiration of certain fixed-rate time charter contracts for certain vessels, and a lower contribution from the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> FPSO unit, which ceased production on the Banff field in June 2020. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, consolidated GAAP net loss during the second quarter of 2021, compared to the same period of the prior year, was negatively impacted by an increase in vessel write-downs from Teekay Tankers and a decrease in freight tax accrual reversals, partially offset by a gain from the derecognition of the ARO liability relating to the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> FPSO unit following fulfillment of Teekay Parent's Phase 2 decommissioning obligations associated with the Banff field.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Teekay Parent</font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"><br>Total Teekay Parent Free Cash Flow(1) was negative $3.2 million during the second quarter of 2021, compared to negative $1.9 million for the same period of the prior year, primarily due to lower contribution from the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> FPSO unit relating to the cessation of production and the decommissioning of the Banff oil field which commenced in June 2020, and a decrease in cash flows from Teekay Parent's marine services business in Australia. These items were partially offset by a 15 percent increase in Teekay LNG's quarterly cash distributions, commencing with the distribution relating to the first quarter of 2021.</font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please refer to </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Appendix D</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of this release for additional information about Teekay Parent's Free Cash Flow</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="margin-bottom:21pt;margin-top:11pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)   This is a non-GAAP financial measure.  Please refer to &#8220;Definitions and Non-GAAP Financial Measures&#8221; and the Appendices to this release for a definition of this term and a reconciliation of this non-GAAP financial measure as used in this release to the most directly comparable financial measures under GAAP.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">3</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-top:18pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Summary Results of Daughter Entities</font></div><div style="margin-bottom:12pt;margin-top:10pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Teekay LNG</font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Teekay LNG&#8217;s GAAP net income and adjusted net income</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:115%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> for the second quarter of 2021, compared to the same quarter of the prior year, were impacted by an increase in scheduled dry dockings during the second quarter of 2021, the redeployment of an LNG carrier under a market-linked contract in March 2021, and the timing of vessel operating expenditures for certain of Teekay LNG's carriers. These decreases were partially offset by a decrease in operational claims under certain of Teekay LNG's charter contracts and lower net interest expense during the second quarter of 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, compared to the same period of the prior year, Teekay LNG's GAAP net income for the second quarter of 2021 was positively impacted by changes in unrealized gains and losses on non-designated derivative instruments and foreign currency exchange.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please refer to Teekay LNG's second quarter 2021 earnings release for additional information on the financial results for this entity.</font></div><div style="margin-top:18pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%;text-decoration:underline">Teekay Tankers</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Teekay Tankers' GAAP net loss and adjusted net loss</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> in the second quarter of 2021, compared to the same quarter of the prior year, were negatively impacted primarily by lower average spot tanker rates in the second quarter of 2021, the expiration of certain fixed-rate time charter contracts, a higher number of scheduled dry dockings, and the sale of two tankers during the first quarter of 2021. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition, GAAP net loss in the second quarter of 2021 included an $86.7 million write-down of vessels, while GAAP net income in the second quarter of 2020 was positively impacted by a $15.2 million reversal in freight tax accruals relating to prior periods, and a $3.1 million gain on sale of assets. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Crude spot tanker rate weakness persisted in the second quarter of 2021 due to ongoing OPEC+ production cuts resulting from reduced oil demand related to the COVID-19 pandemic, an uneven economic recovery across various geographies, and a concentration of newbuilding deliveries in the first half of 2021. The tanker market weakened further early in the third quarter of 2021&#59; however, despite near-term uncertainty related to COVID-19, many of the leading indicators for a tanker market recovery continue to improve, including planned increases in OPEC+ production, declining global oil inventories, which are below five-year average levels, and positive tanker fleet supply fundamentals as reflected in a low orderbook, heightened scrapping and a very limited amount of new tanker orders. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Please refer to Teekay Tankers' second quarter 2021 earnings release for additional information on the financial results for this entity.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="margin-top:12pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)  This is a non-GAAP financial measure. Please refer to &#34;Definitions and Non-GAAP Financial Measures&#34; and the Appendices to this release for a definition of this term and a reconciliation of this non-GAAP financial measure as used in this release to the most directly comparable financial measures under GAAP.  </font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">4</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_13"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:8pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Summary of Recent Events</font></div><div style="margin-top:7pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Teekay Parent</font></div><div style="margin-top:10pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;text-decoration:underline">Banff FPSO</font></div><div style="margin-top:10pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In May 2021, Teekay Parent completed the remaining conditions precedent relating to the previously announced Decommissioning Services Agreement (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">DSA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) with CNR International (UK) Limited (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">CNRI</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">), on behalf of the Banff joint venture, whereby Teekay Parent has engaged CNRI to decommission the Company&#8217;s remaining subsea infrastructure located within the CNRI-operated Banff Field. As part of the DSA, which is now in full effect, CNRI has assumed full responsibility for Teekay&#8217;s remaining asset retirement obligations (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Phase 2</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">) for the above-mentioned facilities, which should enable CNRI to complete Teekay Parent&#8217;s Phase 2 work in conjunction with their other decommissioning work at the Banff Field in a more efficient manner.</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As part of the transaction, Teekay Parent has now been deemed to have completed all of its prior decommissioning obligations associated with the Banff Field and as a result, the Company has reduced its accrued asset retirement obligations by approximately $33 million in the second quarter of 2021.</font></div><div style="margin-bottom:6pt;margin-top:10pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Teekay Tankers</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6pt;font-weight:700;line-height:120%"> </font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In November 2020 and March 2021, Teekay Tankers declared options to repurchase eight vessels that were under higher-cost long-term sale-leaseback financings. Two of the vessels were repurchased in May 2021 for $57 million, with the remaining six vessels expected to be repurchased for $129 million in September 2021. Teekay Tankers has signed term sheets and is currently in documentation for new lower-cost sale-leaseback financings for total proceeds of $142 million to refinance these eight vessels, which financings are expected to be completed in the third quarter of 2021.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Teekay Tankers has in-chartered two Aframax tankers and one LR2 tanker for periods of 18 to 24 months at an average rate of $17,800 per day. Each of the charters provides Teekay Tankers with the option to extend for an additional 12 months at an average rate of $19,800 per day. Two of the vessels are expected to be delivered in August 2021 and the third vessel is expected to be delivered in late-2021 or early-2022.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">5</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_16"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:8pt;margin-top:10pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Liquidity</font></div><div style="margin-bottom:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As at June&#160;30, 2021, Teekay Parent had total liquidity of approximately $193.6 million (consisting of $53.6 million of cash and cash equivalents, and $140.0 million of undrawn capacity from a revolving credit facility). On a consolidated basis, as at June 30, 2021, Teekay had consolidated total liquidity of approximately $0.8 billion (consisting of $258.4 million of cash and cash equivalents and $548.7 million of undrawn capacity from its credit facilities).</font></div><div style="margin-bottom:9pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Conference Call</font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company plans to host a conference call on Thursday, August&#160;5, 2021 at 11&#58;00 a.m. (ET) to discuss its results for the second quarter of 2021. All shareholders and interested parties are invited to listen to the live conference call by choosing from the following options&#58; </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;   By dialing (800) 430-8332 or (647) 792-1240, if outside North America, and quoting conference ID code 2311218.</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:13.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8226;  &#160;&#160;&#160;&#160;By accessing the webcast, which will be available on Teekay&#8217;s website at www.teekay.com (the archive will remain on the website for a period of one year).</font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">An accompanying Second Quarter Earnings Presentation will also be available at www.teekay.com in advance of the conference call start time.</font></div><div style="margin-bottom:9pt;text-align:justify"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:9pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">About Teekay</font></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Teekay is a leading provider of international crude oil and gas marine transportation services. Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P. (NYSE&#58;TGP), one of the world&#8217;s largest independent owners and operators of LNG carriers, and Teekay Tankers Ltd. (NYSE&#58;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 $9 billion, comprised of over 130 liquefied gas, offshore, and conventional tanker assets. With offices in 10 countries and approximately 5,350 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="text-align:justify"><font><br></font></div><div style="margin-bottom:12pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:700;line-height:120%">For Investor Relations enquiries contact&#58;</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Ryan Hamilton</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Tel&#58;  +1 (604) 609-2963</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Website&#58;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">  </font><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">www.teekay.com</font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">6</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Definitions and Non-GAAP Financial Measures</font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This release includes various financial measures that are non-GAAP financial measures as defined under the rules of the Securities and Exchange Commission (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">SEC</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">). These non-GAAP financial measures, which include Adjusted Net (Loss) Income Attributable to Shareholders of Teekay, Teekay Parent Free Cash Flow, Net Interest Expense, Adjusted Equity Income and Adjusted EBITDA, are intended to provide additional information and should not be considered substitutes 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="margin-bottom:9pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Non-GAAP Financial Measures</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Total Adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> represents net (loss) income before interest, taxes, depreciation and amortization, and is adjusted to exclude certain items whose timing or amount cannot be reasonably estimated in advance or that are not considered representative of core operating performance. Such adjustments include foreign currency exchange gains and losses, any write-downs and&#47;or gains, and&#47;or gains and losses on sale of operating assets, adjustments for direct financing and sales-type leases to a cash basis, amortization of in-process revenue contracts, unrealized gains and losses on derivative instruments, credit loss provision adjustments, write-downs related to equity-accounted investments, our share of the above items in non-consolidated joint ventures which are accounted for using the equity method of accounting, and other income or loss. </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Total Adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> also excludes realized gains or losses on interest rate swaps as management, in assessing the Company's performance, views these gains or losses as an element of interest expense and realized gains or losses on interest rate swaps resulting from amendments or terminations of the underlying instruments.</font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Consolidated Adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> represents Adjusted EBITDA from vessels that are consolidated on the Company's financial statements. </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Adjusted EBITDA from Equity-Accounted Vessels</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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. </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Total Adjusted EBITDA </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">represents Consolidated Adjusted EBITDA plus </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA from Equity-Accounted Joint Ventures</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. 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="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Appendices C </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">E</font><font style="color:#242424;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of this release for reconciliations of Adjusted EBITDA to net (loss) income and equity income, respectively, which are the most directly comparable GAAP measures reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjusted Net Income Attributable to Shareholders of Teekay </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">excludes items of income or loss from GAAP net (loss) income 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="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Appendix A</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> of this release for a reconciliation of this non-GAAP financial measure to net (loss) income, and refer to footnote (6) of the statements of (loss) income for a reconciliation of adjusted equity income to equity income, the most directly comparable GAAP measure reflected in the Company&#8217;s consolidated financial statements.</font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">7</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Teekay Parent Financial Measures</font></div><div style="margin-bottom:3pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Teekay Parent Adjusted EBITDA </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">represents the sum of 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), Adjusted EBITDA attributed to Teekay Parent&#8217;s directly-owned and chartered-in assets, and Teekay Parent&#8217;s corporate general and administrative expenditures for the given quarter. </font></div><div style="margin-bottom:3pt;margin-top:9pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Teekay Parent Free Cash Flow</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> represents </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Teekay Parent Adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, plus upfront cash receivable in respect of a sales-type lease, less Teekay Parent&#8217;s net interest expense and, commencing in the second quarter of 2020, asset retirement costs incurred for the given quarter. </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Net Interest Expense</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> includes interest expense (excluding non-cash accretion and the amortization of prepaid loan costs), interest income and realized losses on interest rate swaps. Please refer to </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Appendices B</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">C, D</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">E </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">8</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_19"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:110%">Summary Consolidated Statements of (Loss) Income</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:211.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:20pt"><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="9" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="6" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#2ea2c8;padding:0 1pt"></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#2ea2c8;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Revenues </font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">325,480</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">359,081</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">482,805</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">684,561</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,056,859</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Voyage expenses</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(78,128)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76,225)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(66,896)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(154,353)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(188,460)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Vessel operating expenses </font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(130,567)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(128,437)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(147,796)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(259,004)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(301,089)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Time-charter hire expenses</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,005)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(11,121)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(17,714)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(19,126)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(44,770)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Depreciation and amortization </font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59,244)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(58,586)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(62,936)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(117,830)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(135,853)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22,920)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(22,367)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(23,668)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(45,287)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(41,945)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Write-down) and gain (loss) on sale </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(86,686)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(715)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(10,669)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(87,401)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(105,275)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,950</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">32,950</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Gain on commencement of sales-type lease </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">44,943</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Restructuring charges</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(303)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,622)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(303)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(7,010)</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(Loss) income from vessel operations</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(27,120)</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61,327</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">148,504</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">34,207</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">277,400</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest expense</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48,694)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(48,939)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(59,245)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(97,633)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(121,765)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Interest income</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,336</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,045</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,314</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,381</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,117</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Realized and unrealized (losses) gains on </font></td><td colspan="3" style="background-color:#f4faff;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;non-designated derivative instruments </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,389)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">7,321</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,270)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">3,932</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(30,933)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Equity income </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,111</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,157</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">35,343</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65,268</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">37,656</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income tax recovery </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">204</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,385</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">17,175</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">1,589</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,383</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Foreign exchange (loss) gain</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(3,413)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5,723</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(8,922)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">2,310</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(2,276)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Other loss &#8211; net </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:400;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(7)</font></div></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,639)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(4,515)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(399)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(9,154)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,080)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net (loss) income</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(57,604)</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">61,504</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">125,500</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">3,900</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">177,502</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net loss (income) attributable to non-controlling interests</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">55,760</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(31,553)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(103,777)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24,207</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(205,584)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Net (loss) income attributable to the</font></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt 2px 7.75pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;&#160;&#160;shareholders of Teekay Corporation</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(1,844)</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">29,951</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">21,723</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">28,107</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(28,082)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(Loss) earnings per common share of Teekay Corporation</font></td><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;-     Basic</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.02)</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.30</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.21</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.28</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.28)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;-     Diluted</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.02)</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.28</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.21</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">0.28</font></td><td style="background-color:#f4faff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</font></td><td colspan="2" style="background-color:#f4faff;padding:2px 7pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.28)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Weighted-average number of common shares outstanding  </font></td><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#f4faff;border-top:1.5pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;-     Basic </font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,330,151</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,165,928</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,107,362</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,248,493</font></td><td colspan="3" style="background-color:#f4faff;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100,997,456</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;&#160;-     Diluted</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,330,151</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111,439,150</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">101,196,383</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">111,561,672</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">100,997,456</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">(Write-down) and gain (loss) on sale for the three and six months ended June 30, 2021 includes write-downs of three Suezmax tankers, three LR2 tankers and two Aframax tankers totaling $86.7 million. (Write-down) and gain (loss) on sale for the three months ended March 31, 2021 and six months ended June 30, 2021 also includes the write-down of one </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">operating lease right-of-use (</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">ROU</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) asset. (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Write-down) and gain (loss) on sale for the three and six months ended June 30, 2020 includes a $13.6 million provision in the second quarter of 2020 relating to an adjustment in the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit's estimated asset retirement obligation and the write-down of the unit's remaining residual value. (Write-down) and gain (loss) on sale for the six months ended June 30, 2020 also includes write-downs of six multi-gas carriers totaling $45.0 million and write-downs of two FPSO units totaling $46.5 million. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Asset retirement obligation extinguishment gain relates to the derecognition of</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> the ARO liability relating to the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit as a result of the fulfillment of decommissioning obligations relating to the Banff field.</font></div><div style="text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">9</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Gain on commencement of sales-type lease of $44.9 million for the six months ended June 30, 2020 relates to the commencement of the sales-type lease for the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Foinaven</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit as a result of a new bareboat charter agreement in the first quarter of 2020. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Realized and unrealized (losses) gains related to derivative instruments that are not designated in qualifying hedging relationships for accounting purposes are included as a separate line item in the consolidated statements of (loss) income. The realized losses relate to the amounts the Company actually paid to settle such derivative instruments and the unrealized gains (losses) relate to the change in fair value of such derivative instruments, as detailed in the table below&#58;</font></div><div style="margin-top:5pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:6.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:202.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:18pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Realized (losses) gains relating to</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest rate swap agreements</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,353)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,918)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,879)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,271)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,556)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest rate swap agreement termination </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(i)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(18,012)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(18,012)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency forward contracts</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(241)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Forward freight agreements</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(89)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(201)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(61)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(250)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,442)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22,902)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,080)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(27,344)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,047)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized gains (losses) relating to</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest rate swap agreements</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,323</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,256</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,251)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,579</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(24,063)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency forward contracts</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">255</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Forward freight agreements</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(270)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(33)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(303)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(78)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,053</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,223</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,190)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,276</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(23,886)</font></td></tr><tr style="height:24pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Total realized and unrealized (losses) gains on derivative instruments</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,389)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,321</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,270)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,932</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(30,933)</font></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="padding-left:31.5pt;text-align:justify;text-indent:-13.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(i)  The termination of an interest rate swap agreement during the three months ended March 31, 2021 was in connection with a debt  refinancing completed in February 2021 at a lower all-in interest rate.</font></div><div style="padding-left:31.5pt;text-indent:-13.5pt"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">T</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">he Company&#8217;s proportionate share of items within equity income as identified in Appendix A of this release is detailed in the table below. By excluding these items from equity income as reflected in the consolidated statements of (loss) income, 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="margin-top:5pt;padding-left:18pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:6.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:202.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:20pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity income </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,111</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">37,157</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,343</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">65,268</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">37,656</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proportionate share of unrealized losses (gains)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">on derivative instruments</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,310</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(15,410)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,806</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,100)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,010</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (i)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">817</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,357</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(61)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,174</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,380</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity income adjusted for items in Appendix A </font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">31,238</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,104</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">39,088</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">59,342</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">72,046</font></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(i)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:10.91pt">Other inclu</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">des unrealized credit loss provision adjustments.</font></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Income tax recovery for the three and six months ended June 30, 2020 includes a reduction in freight tax accruals of $16.8 million related to periods prior to 2020. </font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Other loss - net for the three and six months ended June 30, 2021, and June 30, 2020, and three months ended March 31, 2021 i</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">ncludes unrealized credit loss provision adjustments of $(0.7) million, $(4.7) million, $(0.3) million, $(0.2) million, and $(4.0) million, respectively.</font></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">10</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_22"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Summary Consolidated Balance Sheets</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:148.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:85.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:89.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:89.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:89.50pt"></td><td style="width:1.0pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">As at June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">As at March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">As at December 31,</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">ASSETS</font></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents - Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,647</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,999</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">44,791</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents - Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,206</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">163,480</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">206,762</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash and cash equivalents - Teekay Tankers</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">60,498</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87,595</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">97,232</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Assets held for sale</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,925</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,974</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts receivable and other current assets </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">253,231</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">299,162</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">282,242</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Restricted cash - Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Restricted cash - Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">45,994</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">44,736</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">51,181</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Restricted cash - Teekay Tankers</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,899</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,948</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,914</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vessels and equipment - Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,842,205</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,860,581</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,875,169</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vessels and equipment - Teekay Tankers</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,424,775</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,530,082</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,555,300</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating lease right-of-use assets </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,435</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,065</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">52,961</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net investment in direct financing and sales-type leases</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">516,135</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">520,623</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">528,641</font></td></tr><tr style="height:15pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Investments in and loans to equity-accounted investments</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,133,444</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,136,605</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,075,653</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other non-current assets</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">130,199</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">144,319</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">137,082</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Assets</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,636,601</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,844,205</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,945,912</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#cfebf5;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">LIABILITIES AND EQUITY</font></td><td colspan="3" style="background-color:#cfebf5;border-top:2pt solid #279fc7;padding:0 31pt 0 1pt"></td><td colspan="6" style="background-color:#cfebf5;border-top:2pt solid #279fc7;padding:0 1pt 0 13pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Accounts payable and other current liabilities</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">313,990</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">349,255</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">456,152</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Short-term debt - Teekay Tankers</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,000</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">20,000</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,000</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current portion of long-term debt - Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,015</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current portion of long-term debt - Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">428,006</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">422,695</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">322,440</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Current portion of long-term debt - Teekay Tankers </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">150,829</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">209,137</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89,334</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term debt - Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">348,726</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">347,499</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">339,933</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term debt - Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,294,428</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,344,691</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,490,695</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Long-term debt - Teekay Tankers</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">435,527</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">370,602</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">513,670</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Operating lease liabilities </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">14,829</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">19,449</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">54,290</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other long-term liabilities </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">168,877</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">208,308</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">198,107</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity&#58;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-controlling interests</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,944,035</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,028,761</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,989,883</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Shareholders of Teekay</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">518,339</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">523,808</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">481,408</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Liabilities and Equity</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,636,601</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,844,205</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">6,945,912</font></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 31pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 31pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net debt - Teekay Parent </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">304,086</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">314,490</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">295,132</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net debt - Teekay LNG </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,532,234</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,559,170</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,555,192</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net debt - Teekay Tankers </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">529,959</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">506,196</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 31pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">509,858</font></td></tr></table></div><div style="padding-left:18pt;text-align:justify"><font><br></font></div><div style="margin-top:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Current obligations related to finance leases at June 30, 2021 includes $128.8 million related to the declared purchase options on six vessels. The declaration was made by Teekay Tankers in March 2021, with an expected completion date of September 2021. Current obligations related to finance leases at March 31, 2021 included $185.5 million related to declared purchase options on eight vessels by Teekay Tankers, two of which were  purchased for a total cost of $56.7 million in May 2021.</font></div><div style="margin-top:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Net debt is a non-GAAP financial measure and represents short-term debt, current portion of long-term debt and long-term debt, less cash and cash equivalents, and, if applicable, restricted cash. </font></div><div style="margin-top:4pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">As a result of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">early adoption of ASU 2020-06 - </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity&#8217;s Own Equity (Subtopic 815-40), </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">effective January 1, 2021, using the modified retrospective method of transition, the Company increased the carrying value of long-term debt by $6.3&#160;million and decreased common stock and additional paid-in capital by $6.3&#160;million.</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">11</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_25"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Summary Consolidated Statements of Cash Flows</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:377.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:64.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:64.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents and restricted cash provided by (used for)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">OPERATING ACTIVITIES</font></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,900</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">177,502</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Non-cash and non-operating items&#58; </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Depreciation and amortization</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">117,830</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">135,853</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Unrealized (gain) loss on derivative instruments</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(34,145)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,544</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Write-down and (gain) loss on sale</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87,401</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,275</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Asset retirement obligation extinguishment gain</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Gain on commencement of sales-type lease</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(44,943)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Equity income, net of dividends received</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(36,679)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22,804)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;Foreign currency exchange loss (gain) and other</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,967</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,250)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Receipts from direct financing and sales-type leases</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,285</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">334,146</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Change in other operating assets and liabilities </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(85,312)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">75,978</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation expenditures</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,419)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenditures for dry docking</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(21,014)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,608)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net operating cash flow</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,864</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">775,693</font></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">FINANCING ACTIVITIES</font></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from issuance of long-term debt, net of issuance costs</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">315,230</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">931,871</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepayments of long-term debt</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(151,543)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,302,389)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Scheduled repayments of long-term debt</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(156,142)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(240,355)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from short-term debt</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,000</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">205,000</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepayment of short-term debt</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(25,000)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(245,000)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Prepayment of obligations related to finance leases</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(56,724)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Repayments of obligations related to finance leases</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(46,429)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(47,162)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Repurchase of Teekay LNG common units</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(15,635)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Distributions paid from subsidiaries to non-controlling interests</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(42,933)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(35,519)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other financing activities</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(388)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(794)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net financing cash flow</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(138,929)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(749,983)</font></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">INVESTING ACTIVITIES</font></td><td colspan="3" style="background-color:#cfebf5;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 19pt 0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Expenditures for vessels and equipment</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(20,090)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,824)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from sale of vessels and equipment</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,687</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">60,915</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from sale of assets, net of cash sold</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,221</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Proceeds from repayments of advances to equity-accounted joint ventures</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">11,830</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,500</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other investing activities</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,430)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net investing cash flow</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,427</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">57,382</font></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(Decrease) increase in cash, cash equivalents, restricted cash and cash held for sale</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(95,638)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">83,092</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Cash, cash equivalents, restricted cash and cash held for sale, beginning of the period</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">405,890</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">456,325</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Cash, cash equivalents and restricted cash, end of the period</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">310,252</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">539,417</font></td></tr></table></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">12</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_28"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="padding-left:9pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation</font></div><div style="padding-left:9pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix A - Reconciliation of Non-GAAP Financial Measures</font></div><div style="padding-left:9pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted Net Income </font></div><div style="padding-left:9pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars, except per share data)</font></div><div style="margin-top:5pt;padding-left:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:512.25pt"><tr><td style="width:1.0pt"></td><td style="width:4.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:211.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:46.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="12" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ Per </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ Per </font></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ Per </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Share</font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Share</font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Share</font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net (loss) income &#8211; GAAP basis</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(57,604)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,504</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,900</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjust for&#58; Net loss (income) attributable to</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;non-controlling interests </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,760</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(31,553)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,207</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net (loss) income attributable to</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">shareholders of Teekay </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,844)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(0.02)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">29,951</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.30</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">28,107</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.28</font></td></tr><tr style="height:26pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Add (subtract) specific items affecting net (loss)</font></div><div style="padding-left:9pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">income </font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized losses (gains) from derivative </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">instruments</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,256</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.01</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(45,633)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.45)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(44,377)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.44)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency exchange losses (gains)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,120</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.02</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,069)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.07)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,949)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.05)</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Banff FPSO decommissioning costs net of</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">recoveries</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,734</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.06</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,430</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.01</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,164</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.07</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-down and loss on sale of vessels and</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">other assets</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86,686</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.86</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">715</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.01</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">87,401</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.86</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.33)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.33)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Restructuring charges, net of recoveries </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">303</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">303</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Realized loss on interest rate swap terminations</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,012</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.18</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">18,012</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.18</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(7)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,999</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.04</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,903</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.07</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,902</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.11</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-controlling interests&#8217; share of items above</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(64,971)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.64)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,708</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.07</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(58,263)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.58)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total adjustments </font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,874</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.02</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(18,631)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.18)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(16,757)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.17)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted net income attributable to </font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 7pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">shareholders of Teekay </font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">30</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,320</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.11</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">11,350</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.11</font></td></tr></table></div><div style="margin-bottom:3pt;margin-top:1pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Basic per share amounts.</font></div><div style="padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Reflects unrealized losses (gains) relating to the change in the mark-to-market value of derivative instruments that are not designated in qualifying hedging relationships for accounting purposes, including those losses (gains) included in the Company's proportionate share of equity income from joint ventures.</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Foreign currency exchange losses (gains) primarily relate to the Company&#8217;s debt denominated in Euros and Norwegian Kroner (</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">NOK</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) and unrealized losses (gains) on cross currency swaps used to economically hedge the principal and interest on NOK bonds.</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">In the first quarter of 2020, CNR International (U.K.) Limited (or </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">CNRI</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) provided formal notice to the Company of its intention to decommission the Banff field and remove the</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%"> Banff</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO and the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Apollo Spirit</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FSO from the field in June 2020. The oil production under the existing contract for the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FPSO unit ceased in June 2020, and the Company commenced decommissioning activities during the second quarter of 2020. In May 2021, as a result of the DSA with CNRI, Teekay was deemed to have fulfilled all of its prior decommissioning obligations associated with the Banff field. (Refer to </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Summary of Recent Events</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">.)</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Refer to footnote (1) of the </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Summary </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Consolidated Statements of (Loss) Income </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">for additional information.</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Refer to footnote (2) of the </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Summary </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Consolidated Statements of (Loss) Income </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">for additional information.</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Other for the three and six months ended June 30, 2021, and three months ended March 31, 2021, includes unrealized credit loss provision adjustments.</font></div><div style="margin-top:2pt;padding-left:36pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Items affecting net income include items from the Company&#8217;s consolidated non-wholly-owned subsidiaries. The specific items affecting net income 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><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">13</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;padding-left:27pt;text-align:justify;text-indent:-27.36pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix A - Reconciliation of Non-GAAP Financial Measures</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted Net Income </font></div><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars, except per share data)</font></div><div style="margin-top:2pt;text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"></td><td style="width:1.082%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:41.777%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.860%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.860%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.860%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.861%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Six Months Ended</font></td></tr><tr><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td></tr><tr><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td></tr><tr><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ Per </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ Per </font></td></tr><tr><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Share</font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">$ </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Share</font><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td></tr><tr><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Net income &#8211; GAAP basis</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">125,500</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">177,502</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Adjust for&#58; Net (income) loss attributable to</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;&#160;&#160;&#160;non-controlling interests </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(103,777)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(205,584)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income (loss) attributable to</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">shareholders of Teekay </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">21,723</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.21</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(28,082)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(0.28)</font></td></tr><tr><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Add (subtract) specific items affecting net income (loss)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Unrealized losses from derivative instruments</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,995</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.09</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">49,895</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.49</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency exchange losses (gains)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">7,492</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.07</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(971)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.01)</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Banff FPSO decommissioning costs net of</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">recoveries</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,854</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.06</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,854</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.06</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-down and loss on sale of vessels and other</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6.75pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">assets</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,669</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.11</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,275</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1.04</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Gain on commencement of sales-type lease</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(6)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(44,943)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.44)</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Restructuring charges, net of recoveries </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">112</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,300</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.01</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(7)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(17,598)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.17)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,368)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.09)</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Non-controlling interests&#8217; share of items above</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">(8)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,466</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.02</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,988)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(0.14)</font></td></tr><tr><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Total adjustments </font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,990</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.18</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">93,054</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">0.92</font></td></tr><tr><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted net  income attributable to</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 19pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 25pt 0 1pt"></td></tr><tr><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">shareholders of Teekay </font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">39,713</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.39</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">64,972</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">0.64</font></td></tr></table></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Basic per share amounts.</font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Reflects unrealized losses relating to the change in the mark-to-market value of derivative instruments that are not designated in qualifying hedging relationships for accounting purposes, including those losses included in the Company's proportionate share of equity income from joint ventures.</font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Foreign currency exchange losses (gains) primarily relate to the Company&#8217;s debt denominated in Euros and Norwegian Kroner (</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">NOK</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) and unrealized losses on cross currency swaps used to economically hedge the principal and interest on NOK bonds.</font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">In the first quarter of 2020, CNR International (U.K.) Limited (or </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">CNRI</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) provided formal notice to the Company of its intention to decommission the Banff field and remove the</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%"> Banff</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO and the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Apollo Spirit</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FSO from the field in June 2020. The oil production under the existing contract for the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">FPSO unit ceased in June 2020, and the Company commenced decommissioning activities during the second quarter of 2020. </font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Refer to footnote (1) of the </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Summary </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Consolidated Statements of (Loss) Income </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">for additional information.</font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(6)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Gain on commencement of sales-type lease for the three and six months ended June 30, 2020 relates to the commencement of the sales-type lease for the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Foinaven</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit as a result of a new bareboat charter agreement. </font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Other for the three and six months ended June 30, 2020 includes a reduction in freight tax accruals and credit loss provision adjustments to the Company's financial instruments upon adoption of ASU 2016-13.</font></div><div style="margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(8)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Items affecting net income include items from the Company&#8217;s consolidated non-wholly-owned subsidiaries. The specific items affecting net income 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><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">14</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_31"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix B - Supplemental Financial Information</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Summary Statement of Income (Loss) for the Three Months Ended June&#160;30, 2021</font><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:13pt;font-weight:400;line-height:120%">  </font></div><div style="margin-top:2pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(unaudited)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:4.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:208.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:54.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:54.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:54.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:69.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:54.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay </font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidation </font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">LNG </font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Tankers</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Parent</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjustments</font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">148,769</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">123,420</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,291</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">325,480</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 13pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Voyage expenses </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,360)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(71,773)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(78,128)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vessel operating expenses </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,536)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(43,129)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(54,902)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(130,567)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Time-charter hire expense </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,867)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,138)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,005)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,349)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(26,895)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(59,244)</font></td></tr><tr style="height:14pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">General and administrative expenses</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,921)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,233)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,766)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(22,920)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Write-down) and gain (loss) on sale of assets</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(86,686)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(86,686)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,950</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,950</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Income (loss) from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">64,736</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(119,434)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,578</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(27,120)</font></td></tr><tr style="height:9pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(30,084)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,299)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,336)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(48,694)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest income </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,302</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(25)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,336</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Realized and unrealized (loss) gain on</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">non-designated derivative instruments   </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,870)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(512)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,389)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity income (loss)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,940</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(829)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,111</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity in earnings of subsidiaries </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(17,106)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,106</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax (expense) recovery </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,815)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,119</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(100)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">204</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign exchange (loss) gain</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,843)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(626)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,413)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other - net</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,088)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(592)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,959)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(4,639)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income (loss)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,278</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(129,144)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,844)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,106</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(57,604)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net (income) loss attributable to</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">non-controlling interests </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,990)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,750</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">55,760</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income (loss) attributable to shareholders&#47;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">unitholders of publicly-listed entities</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">53,288</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(129,144)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,844)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,856</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,844)</font></td></tr></table></div><div style="text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Consolidation Adjustments column includes adjustments which eliminate transactions between Teekay LNG, Teekay Tankers and Teekay Parent.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Teekay Corporation&#8217;s proportionate share of the net earnings of its publicly-traded subsidiaries.</font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">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><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:18pt;text-align:justify"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">15</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_34"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix C - Supplemental Financial Information </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Parent Summary Operating Results </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:105%">For the Three Months Ended June&#160;30, 2021 </font></div><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(unaudited)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:226.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:69.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:69.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:69.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:69.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Parent</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">FPSOs</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other</font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">G&#38;A</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,290</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">41,001</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">53,291</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Voyage expenses </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vessel operating expenses</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,263)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(40,639)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 25pt 0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(54,902)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">General and administrative expenses</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(434)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,332)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,766)</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,950</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">32,950</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income (loss) from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">30,543</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">367</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,332)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,578</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment for sales-type lease</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Daughter Entities distributions</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> (3)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay Parent adjusted EBITDA</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(2,316)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">367</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,453</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,504</font></td></tr></table></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:20.25pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Includes the results relating to third-party management services. </font></div><div style="margin-bottom:3pt;padding-left:20.25pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Relates to a gain on the derecognition of the ARO obligation relating to the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit, as a result of the fulfillment of decommissioning obligations relating to the Banff field.</font></div><div style="margin-bottom:3pt;padding-left:20.25pt;text-align:justify;text-indent:-18pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">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 June&#160;30, 2021, Teekay Parent received cash distributions of $10.8 million from Teekay LNG, 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="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Appendix D</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> of this release for further details.</font></div><div style="margin-bottom:3pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:20.25pt;text-align:justify"><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">16</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_37"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix D - Reconciliation of Non-GAAP Financial Measures</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Teekay Parent Free Cash Flow</font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars, except share and per share data)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:6.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:235.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:87.25pt"></td><td style="width:1.0pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Daughter Entities distributions to Teekay Parent </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Teekay LNG</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Limited Partner interests</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,338</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,338</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,990</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">GP interests</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">447</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">447</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">411</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Daughter Entity Distributions to Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,401</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">FPSOs</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,316)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,769</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,250</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income and corporate general </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">and administrative expenses</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 12.25pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">367</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,023</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,488</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:11.25pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Corporate general and administrative expenses</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,332)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,436)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,423)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TEEKAY PARENT ADJUSTED EBITDA</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">5,504</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,141</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">9,716</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net interest expense</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(4)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,186)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,113)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(8,675)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement costs incurred</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(5)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(499)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(920)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(2,927)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">TOTAL TEEKAY PARENT FREE CASH FLOW</font></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(3,181)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,108</font></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(1,886)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:8pt"><td colspan="6" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt;text-align:right"><font style="color:#ff0000;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt;text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:2pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:18pt;text-align:right"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Weighted-average number of common shares - Basic </font></div></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">101,330,151</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">101,165,928</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">101,107,362</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="margin-bottom:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">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><div style="padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Common unit distribution cash flows to Teekay Parent are based on Teekay Parent&#8217;s ownership on the ex-dividend date for its publicly-traded subsidiary, Teekay LNG, for the periods as follows&#58;</font></div><div style="margin-bottom:3pt;margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:252.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:9.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:73.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:9.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:73.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:9.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:73.00pt"></td><td style="width:1.0pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="18" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay LNG </font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">&#160;</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Distribution per common unit </font></td><td colspan="6" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.2875</font></td><td colspan="6" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.2875</font></td><td colspan="6" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$0.25</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Common units owned by Teekay Parent  </font></td><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,958,274</font></td><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,958,274</font></td><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">35,958,274</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Total distribution </font></td><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10,338,004</font></td><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$10,338,004</font></td><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">$8,989,569</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div style="padding-left:27pt;text-align:justify"><font><br></font></div><div style="margin-bottom:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Please refer to </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Appendices C</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> and </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">E</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> for additional financial information on Teekay Parent&#8217;s adjusted EBITDA.</font></div><div style="margin-bottom:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(4)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Please see </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Appendix E</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> 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><div style="margin-bottom:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Relates to decommissioning activities for the </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Banff</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO unit, which were accrued on the balance sheet as an asset retirement obligation until May 2021. </font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:3pt;margin-top:3pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="height:67.5pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">17</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_40"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation</font></div><div style="text-align:center"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Non-GAAP Financial Reconciliations</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">18</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div id="i12ca0639098247cc87c6aeaaf911190a_43"></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted EBITDA - Consolidated </font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:510.00pt"><tr><td style="width:1.0pt"></td><td style="width:10.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:277.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:70.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:70.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:72.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td></tr><tr style="height:14pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td></tr><tr style="height:11pt"><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(unaudited)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(unaudited)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(unaudited)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font></div></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(57,604)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">61,504</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">125,500</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">59,244</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">58,586</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">62,936</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense, net of interest income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">47,358</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">46,894</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">56,931</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt 2px 10pt;text-align:left;text-indent:-9pt;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax recovery</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(204)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,385)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(17,175)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">EBITDA</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">48,794</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">165,599</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">228,192</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:15.75pt;text-indent:-9pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Specific income statement items affecting EBITDA&#58;</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Write-down) and gain (loss)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%"> </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">on sale of assets</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">86,686</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">715</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,669</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Asset retirement obligation extinguishment gain</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,950)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td></tr><tr style="height:20pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for direct financing and sales-type lease to a cash basis and other</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,694</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,373</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,452</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Realized and unrealized losses (gains) on derivative instruments</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,389</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(7,321)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,270</font></td></tr><tr style="height:21pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Realized (losses) gains from the settlements of non-designated derivative instruments</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(89)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(200)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Equity income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(28,111)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(37,157)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(35,343)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Foreign currency exchange loss (gain) </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">3,413</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,723)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">8,922</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:12pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other loss - net </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,639</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,515</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">399</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Consolidated Adjusted EBITDA</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">89,465</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">124,029</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">224,361</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjusted EBITDA from equity-accounted vessels (</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:100%">See Appendix E</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">)</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">82,463</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">78,400</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">91,508</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total Adjusted EBITDA</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">171,928</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">202,429</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">315,869</font></td></tr></table></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-bottom:2pt;margin-top:3pt;padding-left:27pt;text-align:justify;text-indent:-27pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Please refer to footnote (6) of the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Summary Consolidated Statements of (Loss) Income </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">of this release for further details.</font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="text-align:justify;text-indent:-9pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">19</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_46"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted EBITDA &#8211; Equity-Accounted Vessels </font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:6.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:178.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:52.00pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="18" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended  </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30, 2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31, 2021</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30, 2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited) </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">At</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Company's </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">At</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Company's </font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">At</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Company's </font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Portion</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Portion</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">100%</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Portion</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(1)</font></div></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Revenues</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">248,220</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">106,938</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">244,711</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">105,888</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">266,539</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">115,422</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Vessel and other operating expenses</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(77,976)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(33,857)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(82,932)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(36,591)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(74,233)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(32,468)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(26,540)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,287)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(25,661)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(12,895)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(26,075)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(13,006)</font></td></tr><tr style="height:21pt"><td colspan="6" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Income from vessel operations of equity-accounted vessels </font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">143,704</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">59,794</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">136,118</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">56,402</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">166,231</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">69,948</font></td></tr><tr style="height:6pt"><td colspan="6" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(62,049)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(25,195)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(60,724)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(24,558)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(73,310)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(29,465)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(359)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(126)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(785)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(292)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">225</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">110</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other items including realized and</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">unrealized (losses) gains on</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">derivative instruments</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(21,026)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(6,362)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,932</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,605</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(17,786)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,250)</font></td></tr><tr style="height:21pt"><td colspan="6" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income &#47; equity income of equity-accounted vessels</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">60,270</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">28,111</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">92,541</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">37,157</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,360</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">35,343</font></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income &#47; equity income</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">of equity-accounted vessels </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">60,270</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">28,111</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">92,541</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">37,157</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">75,360</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">35,343</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,540</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,287</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,661</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">12,895</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,075</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,006</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net interest expense</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">62,049</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">25,195</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">60,724</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">24,558</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">73,310</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">29,465</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Income tax expense</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">359</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">126</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">785</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">292</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(225)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(110)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">EBITDA</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">149,218</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">66,719</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">179,711</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">74,902</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">174,520</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">77,704</font></td></tr><tr style="height:14pt"><td colspan="9" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Specific income statement items affecting EBITDA&#58;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustments for direct financing and </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">sales-type lease to a cash basis</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">28,493</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,327</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">27,758</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,038</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">26,381</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,499</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of in-process contracts</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">and other</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,738)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(945)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,719)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(935)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,738)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(945)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Other items including realized and </font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">unrealized losses (gains) on derivative</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">instruments</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(2)</font></div></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">21,026</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">6,362</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(17,932)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,605)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">17,786</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">5,250</font></td></tr><tr style="height:21pt"><td colspan="6" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted EBITDA from equity-accounted vessels </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:700;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(3)</font></div></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">196,999</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">82,463</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">187,818</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">78,400</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">216,949</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1.5pt solid #279fc7;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">91,508</font></td></tr></table></div><div><font><br></font></div><div style="margin-bottom:2pt;margin-top:1pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(1)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:12.74pt">The Company&#8217;s proportionate share of its equity-accounted vessels and other investments ranged from 20% to 52%. </font></div><div style="margin-bottom:2pt;margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:12.74pt">Includes unrealized credit loss provision adjustments.</font></div><div style="margin-bottom:2pt;margin-top:3pt;padding-left:22.5pt;text-align:justify;text-indent:-22.5pt"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:12.74pt">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 style="margin-bottom:2pt;margin-top:3pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="margin-bottom:2pt;margin-top:3pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="margin-bottom:2pt;margin-top:3pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="margin-bottom:2pt;margin-top:3pt;text-align:justify;text-indent:-4.5pt"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">20</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_49"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix E - Reconciliation of Non-GAAP Financial Measures</font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted EBITDA - Teekay Parent </font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:513.00pt"><tr><td style="width:1.0pt"></td><td style="width:4.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:262.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.75pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="21" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended March 31, 2021</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="21" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Parent</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">FPSOs</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">G&#38;A</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Teekay Parent income (loss) from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,972</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">4,023</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(3,436)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,559</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Adjustment for sales-type lease</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(203)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(203)</font></td></tr><tr style="height:14pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Daughter Entities distributions</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">10,785</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted EBITDA &#8211; Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">1,769</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">4,023</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">7,349</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">13,141</font></td></tr></table></div><div><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:512.25pt"><tr><td style="width:1.0pt"></td><td style="width:4.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:246.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:61.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:58.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:1.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:60.25pt"></td><td style="width:1.0pt"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="21" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended June 30, 2020</font></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="21" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Teekay</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Corporate</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Parent</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;padding:0 1pt"></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">FPSOs</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Other</font></td><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">G&#38;A</font></td><td colspan="6" style="background-color:#cfebf5;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Total</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Teekay Parent (loss) income from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(11,540)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,892</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(5,423)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(14,071)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Write-down of vessels</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,565</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">13,565</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Depreciation and amortization</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,761</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,761</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Amortization of operating lease liability and other</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(1,536)</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">596</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(940)</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Daughter Entities distributions</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,401</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">9,401</font></td></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Adjusted EBITDA &#8211; Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2,250</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 19pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,488</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">3,978</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">9,716</font></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">21</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_52"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Appendix E - Reconciliation of Non-GAAP Financial Measures </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Net Interest Expense - Teekay Parent </font></div><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in thousands of U.S. dollars)</font></div><div style="margin-top:5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:511.50pt"><tr><td style="width:1.0pt"></td><td style="width:7.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:78.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:78.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:78.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:85.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:85.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:85.00pt"></td><td style="width:1.0pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">March 31,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">June 30,</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2021</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">2020</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">&#160;</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(unaudited)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(48,694)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(48,939)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(59,245)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest income </font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,336</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,045</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,314</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense net of interest income consolidated</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(47,358)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(46,894)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(56,931)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Less&#58; Non-Teekay Parent interest expense net of</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="9" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;interest income</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(38,052)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(37,684)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(46,371)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Interest expense net of interest income - Teekay Parent</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,306)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(9,210)</font></td><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(10,560)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Teekay Parent non-cash accretion and loan cost amortization</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,478</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">1,476</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">2,191</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;border-bottom:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Teekay Parent realized losses on interest rate swaps</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(358)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(379)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(306)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="12" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net interest expense - Teekay Parent </font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(8,186)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(8,113)</font></td><td colspan="3" style="background-color:#eef8fc;border-bottom:2pt solid #279fc7;border-top:1pt solid #279fc7;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(8,675)</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">22</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div><div id="i12ca0639098247cc87c6aeaaf911190a_55"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.550%"><tr><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td></tr><tr style="height:42pt"><td colspan="3" style="padding:0 1pt"><div><img alt="image2.jpg" src="image2.jpg" style="height:45px;margin-bottom:5pt;vertical-align:text-bottom;width:136px"></div></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">Forward Looking Statements </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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&#58; Teekay Parent&#8217;s planned wind-down of its FPSO segment&#59; the ability of CNRI to fulfill the obligations under the DSA and incorporate these obligations into its own decommissioning process&#59; the impact of COVID-19, market volatility and related global events on the Company&#8217;s and Daughter Entities&#8217; businesses and financial results&#59; estimated fluctuations in global oil demand and supply levels, including anticipated future fluctuations in global oil inventories and OPEC+ production increases and the timing thereof&#59; forecasts of worldwide tanker fleet growth or contraction and vessel scrapping&#59; the future outlook of the LNG shipping and tanker markets, and the impact thereon of various factors and effect on the Company and the Daughter Entities&#59; timing of and the Company's expectations regarding new and renewed charter contracts, vessel acquisitions and deliveries, and sale-leaseback transactions&#59; fixed charter coverage for Teekay LNG&#8217;s fleet for 2021 and 2022&#59; and Teekay Tankers&#8217; plans to refinance, and the timing of closing, the repurchase of sale-leaseback vessels. </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">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&#58; 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&#59; changes in the demand for oil, refined products, LNG or LPG&#59; changes in trading patterns significantly affecting overall vessel tonnage requirements&#59; greater or less than anticipated levels of vessel newbuilding orders and deliveries and greater or less than anticipated rates of vessel scrapping&#59; changes in global oil prices or tanker rates&#59; OPEC+ and non-OPEC production and supply levels&#59; the duration and extent of the COVID-19 global pandemic and any resulting effects on the markets in which the Company operates&#59; the impact of the pandemic on the Company&#8217;s ability to maintain safe and efficient operations&#59; the impact and timing of coronavirus vaccination programs&#59; issues with vessel operations&#59; higher than expected costs and expenses, off-hire days or dry-docking requirements (both scheduled and unscheduled)&#59; the inability of CNRI to fulfill the obligations under the DSA&#59; higher than expected costs and&#47;or delays associated with the recycling of the Foinaven FPSO unit&#59; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations, including IMO 2030 and others that may further regulate greenhouse gas emissions&#59; the potential for early termination of long-term contracts of existing vessels&#59; changes in borrowing costs or equity valuations&#59; declaration by Teekay LNG&#8217;s board of directors of common unit distributions&#59; the inability of Teekay Tankers to finance the repurchase of sale-leaseback vessels within anticipated timeframes&#59; potential lack of cash flow for Teekay LNG to continue paying distributions on its common units and other securities&#59; available cash to reduce financial leverage at Teekay Parent, Teekay LNG and Teekay Tankers&#59; the impact of geopolitical tensions and changes in global economic conditions&#59; 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, 2020. 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="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">23</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:700;line-height:120%">Teekay Corporation</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">    Investor Relations Tel&#58; +1 604 609 2963    www.teekay.com</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%">4</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:4.55pt;font-weight:400;line-height:120%;position:relative;top:-2.44pt;vertical-align:baseline">th</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:120%"> Floor, Belvedere Building, 69 Pitts Bay Road, Hamilton, HM 08, Bermuda</font></div></div></div></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
