<SEC-DOCUMENT>0001628280-22-028064.txt : 20221103
<SEC-HEADER>0001628280-22-028064.hdr.sgml : 20221103
<ACCEPTANCE-DATETIME>20221103125204
ACCESSION NUMBER:		0001628280-22-028064
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220930
FILED AS OF DATE:		20221103
DATE AS OF CHANGE:		20221103

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:		221357105

	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>tkq3-22erdocument.htm
<DESCRIPTION>6-K
<TEXT>
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<title>Document</title></head><body><div id="if7bad017a79346d1a7708bce8175660c_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; November 3, 2022 </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="if7bad017a79346d1a7708bce8175660c_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 November&#160;3, 2022. </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; November 3, 2022</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="if7bad017a79346d1a7708bce8175660c_7"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><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="colorlogo05.jpg" src="colorlogo05.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%">THIRD QUARTER 2022 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 income attributable to shareholders of Teekay of $33.1 million, or $0.32 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">(2)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> of $15.3 million, or $0.15 per share, in the third quarter of 2022 (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">Teekay Parent has successfully completed the divestment of its FPSO units with the sale of the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Sevan Hummingbird </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%">FPSO unit on July 1, 2022 and the delivery of its remaining FPSO unit, the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-style:italic;font-weight:400;line-height:120%">Petrojarl Foinaven,</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%"> to a recycling yard in October 2022. </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">During the third quarter of 2022, Teekay Parent sold 0.9 million Teekay Tankers Class A common shares for $22.8 million.  These shares were acquired in late-2021 and early-2022 for a total cost of $10.0 million. </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">In August 2022, Teekay Parent's Board of Directors approved a $30 million common share repurchase program. Since that time, Teekay Parent has repurchased $5.3 million of its outstanding common shares.</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:9.5pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9.5pt;font-weight:400;line-height:120%;padding-left:19.18pt">Tanker market continues to strengthen during the year with Teekay Tankers securing strong fourth quarter-to-date spot rates of $40,000 per day, $36,600 per day, and $44,700 per day for its Suezmax, Aframax and LR2 fleets, respectively, which are higher than the third quarter of 2022 rates and approximately two to three times higher compared to last year&#8217;s fourth quarter rates.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:120%">Hamilton, Bermuda, November&#160;3, 2022</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> - Teekay Corporation (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Teekay</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> or </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">the Company</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">) (NYSE&#58;TK) today reported results for the three and nine months ended September 30, 2022. These results include the Company&#8217;s publicly-listed consolidated subsidiary, Teekay Tankers Ltd. (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Teekay Tankers</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">) (NYSE&#58;TNK), and all remaining subsidiaries and equity-accounted investments. As a result of Stonepeak's acquisition of Teekay LNG Partners L.P. (</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Teekay LNG</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">) (now known as Seapeak LLC) in January 2022, certain</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">information in this release presents Teekay LNG and various subsidiaries that provided the shore-based operations for Teekay LNG and certain of Teekay LNG&#8217;s joint ventures under management services contracts (collectively,</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%"> the Teekay Gas Business</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">) as a discontinued operation. Teekay, together with its subsidiaries other than Teekay Tankers, is referred to in this release as </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-style:italic;font-weight:400;line-height:120%">Teekay Parent</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">. Please refer to the third quarter of 2022 earnings release of Teekay Tankers, which is available on Teekay's website at</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%;text-decoration:underline">www.teekay.com</font><font style="color:#0000ff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">,</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">for additional information on Teekay Tankers' 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:510.00pt"><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:283.00pt"></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:70.75pt"></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 colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></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="3" style="display:none"></td></tr><tr style="height:12pt"><td colspan="6" 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-style:italic;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:8pt;font-weight:700;line-height:100%">September 30,</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: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:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 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:#279fc7;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:#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%">2022</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:8pt;font-weight:700;line-height:100%">2022</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:8pt;font-weight:700;line-height:100%">2021</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: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:#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%">(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: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:0 1pt"></td><td colspan="3" style="background-color:#cceeff;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="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"></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"></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 13pt 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%">303,199</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">280,786</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">148,323</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:middle"><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss) from vessel operations</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">83,385</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">26,792</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">(45,538)</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 income (loss) attributable to the shareholders of Teekay</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">33,133</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">5,282</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">(2,913)</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%">Earnings (loss) per common share of Teekay</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">0.32</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">0.05</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">(0.03)</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"></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"></td><td colspan="3" style="background-color:#dffffa;padding:0 1pt"></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 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 13pt 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%">86,885</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">50,844</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">81,976</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 13pt 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%">15,312</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">5,506</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">95</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:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Adjusted net earnings per share 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 13pt 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%">0.15</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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%">0.05</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 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="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:23pt"><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:8pt;font-weight:700;line-height:100%">As at September 30,</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:8pt;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:middle"><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">As at March 31,</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:#279fc7;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%">(in thousands of U.S. dollars, except number of shares)</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:8pt;font-weight:700;line-height:100%">2022</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:8pt;font-weight:700;line-height:100%">2022</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:8pt;font-weight:700;line-height:100%">2022</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: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:#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%">(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: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:12pt"><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 PARENT</font></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;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:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net cash</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">(2)</font></div></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">328,618&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">275,840&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">289,988&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></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:middle"><div><font style="color:#2f3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Market value of investment in Teekay Tankers</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"> (3) </font></div></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 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%">266,100&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 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%">186,327&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 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%">146,271&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></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><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="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><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:5pt;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%">). These measures include results from both continuing and discontinued operations. </font></div><div style="margin-top:5pt;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:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Teekay Parent net cash as of September 30, 2022 includes cash and cash equivalents and short-term investments less current portion of long-term debt totaling $21.2 million related to Teekay Parent's 5% Convertible Notes due in January 2023. Teekay Parent's net cash position increased compared to June 30, 2022, primarily due to cash proceeds received from the sale of the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Sevan Hummingbird</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO, a contractual lump sum payment received from the customer of the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Petrojarl Foinaven</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO, the cash proceeds from the sale of 0.9 million Teekay Tankers Class A common shares, and changes in working capital balances, partially offset by Teekay share repurchases. As at September 30, 2022, Teekay Parent's remaining decommissioning and recycling costs are estimated to be approximately $15 million, which are expected to be paid in the fourth quarter of 2022 through the end of 2023</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">.</font></div><div style="margin-top:5pt;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%">(3)</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">As at September 30, 2022, June 30, 2022, and March 31, 2022, Teekay Parent owned 9.6 million, 10.6 million and 10.6 million Teekay Tankers Class A and B common shares, respectively, and the closing share price of TNK was $27.54 per share, $17.63 per share, and $13.84 per share, respectively.</font></div><div style="margin-bottom:8pt;margin-top:7pt"><font><br></font></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></div><div style="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">&#8220;Our consolidated financial results for the third quarter of 2022 were stronger than the previous quarter, primarily due to higher spot tanker rates,&#8221; commented Kenneth Hvid, Teekay&#8217;s President and CEO. </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:112%">&#8220;Recently, we successfully completed the remaining key milestones relating to winding down our FPSO segment and have now fully divested our FPSO business. During the third quarter of 2022, we completed the sale of the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Sevan Hummingbird</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and in late-October, we transferred the ownership of our last remaining FPSO, the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Petrojarl Foinaven</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, to a European shipyard for green recycling. I am very pleased with both the commercial and operational execution of winding down our FPSO business where the sale proceeds from the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Sevan Hummingbird</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> and the lump sum payment received from the customer on the </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Petrojarl Foinaven</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> are now expected to fully offset our decommissioning and recycling costs relating to these units.&#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:112%">&#8220;The tanker market continued to strengthen during the third quarter on the back of strong tanker supply and demand fundamentals, which has been further boosted by increased tanker tonne-mile demand due to changes in crude oil trading patterns as a result of Russia&#8217;s invasion of Ukraine. During the third quarter of 2022, Teekay Tankers experienced counter-seasonal strength in spot tanker rates, with rates hitting their highest level for a third quarter since 2008, and we are seeing further strength so far in the fourth quarter of 2022. With almost all of Teekay Tankers' fleet currently trading in the spot market, we have significant operating leverage to benefit from a strong tanker market.&#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:112%">&#8220;During the quarter, we sold the 0.9 million of Teekay Tankers Class A common shares for $22.8 million that we acquired in late-2021 and early-2022 for a total cost of $10.0 million.  Following this opportunistic trade, we remain Teekay Tankers&#8217; largest shareholder, with economic ownership of 28.5%. In addition, Teekay Corporation put in place a $30 million share repurchase program, under which we have so far repurchased approximately 1.5 million of our common shares at an average price of $3.59 per share.&#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:112%">&#8220;With the positive tanker market fundamentals and our net cash position, which is especially valuable during times of extreme volatility and global economic uncertainty, we believe we are well-positioned to pursue future investment opportunities to create long-term shareholder value.&#8221;</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="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="if7bad017a79346d1a7708bce8175660c_10"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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="text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company's adjusted net income attributable to shareholders of Teekay</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 third quarter of 2022 increased compared to the same quarter of the prior year, primarily due to stronger earnings from Teekay Tankers as a result of higher spot tanker rates </font><font style="color:#2e3337;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-weight:400;line-height:120%"> lower interest expense in Teekay Parent due to bond repurchases completed during the first half of 2022, which was partially offset by the loss of earnings contribution from the Teekay Gas Business as a result of the sale of the Teekay Gas Business on January 13, 2022.</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 income attributable to shareholders of Teekay increased during the third quarter of 2022, compared to the same quarter of the prior year, mainly due to</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> $21.1 million in gains from the sale of assets and a $4.0 million reduction in the estimated costs associated with the recycling of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Petrojarl Foinaven </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FPSO unit, both of which were</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">recognized</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">in the third quarter of 2022</font><font style="color:#000000;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-weight:400;line-height:120%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">The following table highlights the operating performance of Teekay Tankers' vessels trading in revenue sharing arrangements (</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">RSAs</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">), voyage charters and full service lightering, in each case measured in net revenues</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:115%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%"> per revenue day, or time-charter equivalent (</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:115%">TCE</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">) rates, before off-hire bunker expenses&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="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:236.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:84.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:3.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:84.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:3.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:84.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:3.25pt"></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><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="18" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:100%">Three Months Ended</font></td><td colspan="3" style="display:none"></td></tr><tr style="height:20pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2022</font><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(b)</font></div></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">June 30, 2022</font><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(b)</font></div></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">September 30, 2021</font><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:5.85pt;font-weight:400;line-height:100%;position:relative;top:-3.15pt;vertical-align:baseline">(b)</font></div></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="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Suezmax revenue days </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,208</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,244</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">2,350</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Suezmax TCE per revenue day </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$33,191</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$25,310</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$6,029</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Aframax revenue days </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,081</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,210</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">1,444</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Aframax TCE per revenue day </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$34,393</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$24,538</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9,749</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">LR2 revenue days </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">853</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">888</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">644</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">LR2 TCE per revenue day </font></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$37,373</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$26,690</font></td><td colspan="3" style="background-color:#eef8fc;padding:0 1pt"></td><td colspan="3" style="background-color:#eef8fc;border-left:1pt solid #279fc7;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$9,358</font></td><td colspan="3" style="background-color:#eef8fc;border-right:1pt solid #279fc7;padding:0 1pt"></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: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%">(a)&#160;&#160;&#160;&#160;</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Net revenues</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> is a non-GAAP financial measure. Please refer to &#34;Definitions and Non-GAAP Financial Measures&#34; for a definition of this term.</font></div><div style="margin-bottom:6pt;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%">(b)&#160;&#160;&#160;&#160;</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Revenue days</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> are the total number of calendar days Teekay Tankers' vessels were in its possession during a period, less the total number of off-hire days during the period associated with major repairs or modifications, dry dockings or special or intermediate surveys. Consequently, revenue days represent the total number of days available for the vessel to earn revenue. Idle days, which are days when the vessel is available to earn revenue but is not employed, are included in revenue days.</font></div><div style="margin-top:6pt;text-align:justify"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">Please refer to Teekay Tankers' third quarter of 2022 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="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="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%">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><div id="if7bad017a79346d1a7708bce8175660c_13"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:5pt;margin-top:6pt;text-align:justify"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:136%">Summary of Recent Events</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 Parent</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">During the third quarter of 2022, Teekay Parent sold 0.9 million Teekay Tankers Class A common shares for total proceeds of $22.8 million, or an average price of $25.20 per share. These shares were acquired in December 2021 through February 2022 for $10.0 million, or an average purchase price of $11.03 per share. </font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">In August 2022, </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Teekay's Board of Directors approved a $30 million common share repurchase program. Since that time, Teekay has repurchased a total of approximately 1.5 million common shares, or approximately 1.4% of the outstanding common shares immediately prior to commencement of the program, for a total cost of $5.3 million, representing an average repurchase price of $3.59 per share.</font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">On July 1, 2022, Teekay Parent completed the sale of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Sevan Hummingbird </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FPSO unit to a third party, which resulted in a gain on sale of approximately $13.0 million. In October 2022, Teekay Parent delivered and transferred the ownership of its last remaining FPSO unit, the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Petrojarl Foinaven</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">, to a European shipyard for green recycling. The combined proceeds from the sale of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Sevan Hummingbird </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FPSO unit and the final contractual lump sum payment received from the customer of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">Petrojarl Foinaven </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">FPSO unit to cover the green recycling costs totaled approximately $25 million, which was received during the third quarter of 2022</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:112%">. </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">As at September 30, 2022, Teekay Parent's remaining decommissioning and recycling costs are now estimated to be approximately $15 million, which are expected to be paid in the fourth quarter of 2022 through the end of 2023. </font></div><div style="margin-bottom:6pt;margin-top:12pt;text-align:justify"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:115%">Teekay Tankers</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:6pt;font-weight:700;line-height:115%"> </font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In July 2022, Teekay Tankers agreed to sell one Aframax tanker for $24.8 million, which was completed in September 2022 and resulted in a gain on sale of $8.2 million. </font></div><div style="margin-top:12pt;text-align:justify"><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:115%">In September and October 2022, Teekay Tankers made $44.9 million in prepayments and fully repaid a term loan related to four vessels. The prepayments were made with existing liquidity and the four vessels will be unencumbered.</font></div><div style="margin-top:9pt;text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table summarizes Teekay Tankers&#8217; TCE rates booked to-date in the fourth quarter of 2022 for its spot-traded fleet only&#58;</font></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:51.315%"><tr><td style="width:1.0%"></td><td style="width:23.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.791%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.793%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="6" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:115%">To-Date Spot Tanker Rates</font></div></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"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:115%">TCE Rates Per Day</font></div></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:700;line-height:115%">% Fixed</font></div></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Suezmax</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 25pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$40,000</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 37pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">43%</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">Aframax </font><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;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:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$36,600</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 37pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">38%</font></td></tr><tr><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">LR2 </font><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:5.52pt;font-weight:400;line-height:100%;position:relative;top:-2.97pt;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:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">$44,700</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 37pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#333333;font-family:'Arial',sans-serif;font-size:8.5pt;font-weight:400;line-height:100%">36%</font></td></tr></table></div><div style="margin-top:1pt;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:115%">(1)&#160;&#160;&#160;&#160;Rates and percentage booked to-date include Aframax RSA, full service lightering and non-RSA voyage charters for all Aframax vessels.</font></div><div style="margin-top:6pt;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:115%">(2)&#160;&#160;&#160;&#160;Rates and percentage booked to-date include Aframax RSA, full service lightering and non-RSA voyage charters for all LR2 vessels, whether trading in the clean or dirty spot market.</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="if7bad017a79346d1a7708bce8175660c_16"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:9pt;margin-top:10pt;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="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 is a leading provider of international crude oil and other marine transportation services. Teekay provides these services directly and through its controlling ownership interest in 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 approximately 60 conventional tankers and other marine assets. With offices in 8 countries and approximately 2,500 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world&#8217;s leading energy companies and the Australian government.</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&#58;</font></div><div><font><br></font></div><div><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">E-mail&#58;  investor.relations&#64;teekay.com</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%">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><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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 Income Attributable to Shareholders of Teekay, Adjusted EBITDA and Net Revenues, 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;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 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 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 style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjusted EBITDA</font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> represents net 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, 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, loss on bond repurchases, loss on deconsolidation, equity income (loss), and other income or loss, for both continuing operations and discontinued operations. </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">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, for continuing and discontinued operations.</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%">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%">Appendix C</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 income, from continuing and discontinued operations, 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:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Net revenues</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> represents income (loss) from operations before vessel operating expenses, time-charter hire expenses, depreciation and amortization, general and administrative expenses, gain on sale and write-down of assets, and restructuring charges. Since the amount of voyage expenses the Company incurs for a particular charter depends on the type of the charter, the Company includes these costs in net revenues to improve the comparability between periods of reported revenues that are generated by the different types of charters and contracts. The Company principally uses net revenues, a non-GAAP financial measure, because the Company believes it provides more meaningful information about the deployment of the Company's vessels and their performance than does income (loss) from operations, the most directly comparable financial measure under GAAP.</font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font><br></font></div><div style="margin-bottom:6pt;margin-top:9pt;text-align:justify"><font><br></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%">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><div id="if7bad017a79346d1a7708bce8175660c_19"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.866%"><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="colorlogo05.jpg" src="colorlogo05.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:14pt;font-weight:400;line-height:110%">Summary Consolidated Statements of Income</font></div><div><font><br></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><font><br></font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:526.50pt"><tr><td style="width:1.0pt"></td><td style="width:280.75pt"></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:#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%">Nine Months Ended</font></td></tr><tr style="height:20pt"><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%">September 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%">September 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%">September 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%">September 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%">2022</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%">2022</font></td><td colspan="3" style="background-color:#2ea2c8;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:8pt;font-weight:700;line-height:100%">2021 </font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></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%">2022</font></td><td colspan="3" style="background-color:#2ea2c8;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:8pt;font-weight:700;line-height:100%">2021 </font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></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: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: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: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:8pt;font-weight:700;line-height:100%">(unaudited)</font></td></tr><tr style="height:3pt"><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%">303,199</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%">280,786</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%">148,323</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%">796,705</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%">486,015</font></td></tr><tr style="height:3pt"><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 7pt 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%">(135,013)</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%">(126,980)</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%">(78,335)</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%">(363,615)</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%">(219,145)</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%">(59,579)</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%">(80,268)</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%">(66,957)</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%">(211,788)</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%">(222,618)</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%">(7,236)</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%">(6,553)</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%">(2,870)</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%">(19,339)</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%">(10,279)</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%">(24,251)</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%">(25,243)</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%">(25,837)</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%">(74,574)</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%">(79,416)</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%">(13,655)</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%">(14,143)</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%">(19,165)</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%">(43,881)</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%">(57,369)</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%">Gain (loss) on sale and write-down of assets</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%">21,131</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%">1,153</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%">(697)</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%">21,863</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%">(88,098)</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%">Asset retirement obligation extinguishment 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%">&#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%">32,950</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%">Restructuring charges </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%">(1,211)</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%">(1,960)</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%">(7,768)</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></tr><tr style="height:11pt"><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%">Income (loss) 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%">83,385</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%">26,792</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%">(45,538)</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%">97,603</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%">(158,263)</font></td></tr><tr style="height:5pt"><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%">(9,403)</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%">(9,413)</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%">(16,889)</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%">(28,818)</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%">(53,006)</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%">1,753</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%">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%">40</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%">2,773</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%">113</font></td></tr><tr style="height:20pt"><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 gains (losses) on non-designated derivative instruments</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%">1,698</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%">571</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%">(282)</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%">4,236</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%">(98)</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%">Equity income (loss)</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%">221</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%">(931)</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%">(873)</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%">(1,464)</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%">(2,061)</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%">Loss on bond repurchases </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%">(86)</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%">(198)</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%">(12,694)</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%">&#8212;</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%">Income tax recovery (expense) and other &#8211; net </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%">3,288</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%">534</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%">(2,867)</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%">4,175</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%">(5,850)</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 income (loss) from continuing 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%">80,856</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%">18,078</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%">(66,409)</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%">65,811</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%">(219,165)</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 (loss) from discontinued operations </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%">&#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%">75,989</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%">(20,276)</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%">232,645</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 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%">80,856</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%">18,078</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%">9,580</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%">45,535</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%">13,480</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net (income) loss attributable to non-controlling interests </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%">(47,723)</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%">(12,796)</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%">(12,493)</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%">(6,232)</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%">11,714</font></td></tr><tr style="height:18pt"><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 income (loss) attributable to the shareholders of Teekay Corporation</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%">33,133</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%">5,282</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%">(2,913)</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%">39,303</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%">25,194</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:18pt"><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:700;line-height:100%">Amounts attributable to the shareholders of Teekay Corporation</font></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><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><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:0 1pt"></td></tr><tr style="height:11pt"><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%">Income (loss) from continuing operations</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%">80,856</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%">18,078</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%">(66,409)</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%">65,811</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%">(219,165)</font></td></tr><tr style="height:18pt"><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 (income) loss attributable to non-controlling interests, continuing operations </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%">(47,723)</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%">(12,796)</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%">32,178</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%">(68,160)</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%">149,469</font></td></tr><tr style="height:18pt"><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 income (loss) attributable to the shareholders of Teekay Corporation, continuing 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%">33,133</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%">5,282</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%">(34,231)</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%">(2,349)</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%">(69,696)</font></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%">Income (loss) from discontinued operations </font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">&#8212;</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">75,989</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">(20,276)</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">232,645</font></td></tr><tr style="height:18pt"><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%">Net (income) loss attributable to non-controlling interests, discontinued operations </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%">&#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%">(44,671)</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%">61,928</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%">(137,755)</font></td></tr><tr style="height:14pt"><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 income attributable to the shareholders of Teekay Corporation,</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 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:11pt"><td colspan="3" style="background-color:#f4faff;padding:2px 1pt 2px 4pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">discontinued operations</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%">&#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:700;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:700;line-height:100%">31,318</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%">41,652</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%">94,890</font></td></tr><tr style="height:18pt"><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;padding:2px 1pt 2px 4pt;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 income (loss) attributable to the shareholders of Teekay Corporation</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:700;line-height:100%">33,133</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:700;line-height:100%">5,282</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:700;line-height:100%">(2,913)</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:700;line-height:100%">39,303</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:700;line-height:100%">25,194</font></td></tr><tr style="height:18pt"><td colspan="3" style="background-color:#f4faff;border-top:2pt solid #279fc7;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%">Earnings (loss) per common share</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><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> of Teekay Corporation, continuing operations - Basic and diluted</font></div></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">0.32</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">0.05</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">(0.33)</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">(0.02)</font></td><td colspan="3" style="background-color:#f4faff;border-top: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:8pt;font-weight:400;line-height:100%">(0.68)</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:21pt"><td colspan="3" style="background-color:#f4faff;border-top:0.5pt solid #279fc7;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%">Earnings per common share</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><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> of Teekay Corporation, discontinued operations - Basic and diluted</font></div></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:400;line-height:100%">&#8212;</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:400;line-height:100%">&#8212;</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:400;line-height:100%">0.31</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:400;line-height:100%">0.41</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:400;line-height:100%">0.93</font></td></tr><tr style="height:21pt"><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top:2pt solid #279fc7;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%">Earnings (loss) per common share</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><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%"> of Teekay Corporation -  </font></div><div><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Basic and diluted</font></div></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top: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:8pt;font-weight:400;line-height:100%">0.32</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top: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:8pt;font-weight:400;line-height:100%">0.05</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top: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:8pt;font-weight:400;line-height:100%">(0.03)</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top: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:8pt;font-weight:400;line-height:100%">0.38</font></td><td colspan="3" style="background-color:#f4faff;border-bottom:2pt solid #279fc7;border-top: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:8pt;font-weight:400;line-height:100%">0.25</font></td></tr></table></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%">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><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.866%"><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="colorlogo05.jpg" src="colorlogo05.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;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">The presentation of certain information in these consolidated financial statements reflects the Teekay Gas Business as a discontinued operation of the Company, and historical comparative periods presented have been recast as a result. </font></div><div style="margin-bottom:6pt;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%">(2)</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">The three months ended September 30 and June 30, 2022 and nine months ended September 30, 2022, includes restructuring charges of $1.2 million, $1.2 million and $6.2 million, respectively, related to the reorganization and realignment of the Company's shared service functions following the sale of the Teekay Gas Business including costs associated with the separation of information technology systems, of which $2.4 million was recovered from Seapeak and was recorded as part of revenues on the consolidated statements of income. The three months ended June 30, 2022 and nine months ended September 30, 2022 also includes restructuring charges of $0.8 million and $1.6 million related to the end of operation for the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Sevan Hummingbird</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> FPSO.</font></div><div style="margin-bottom:6pt;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">Loss on bond repurchases for the three months ended September 30, 2022 and June 30, 2022 and nine months ended September 30, 2022 includes a $9.2 million loss on repurchase of Teekay Parent&#8217;s 9.25% Senior Secured Notes due in November 2022 (</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">2022 Notes</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) in full and a $3.5 million loss on repurchases of Teekay Parent's 5% Convertible Notes due in January 2023 (</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Convertible Notes</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">). </font></div><div style="margin-bottom:6pt;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">Income (loss) from discontinued operations for the nine months ended September 30, 2022 includes a $58.7&#160;million loss on deconsolidation of the Teekay Gas Business. Net (income) loss attributable to non-controlling interests, discontinued operations for the nine months ended September 30, 2022 includes the realization of a deferred gain of $84.8 million relating to the intercompany sale of certain vessels from Teekay to the Teekay Gas Business in previous years, which is recognized upon the sale of the Teekay Gas Business. Together, these items resulted in a net gain of $26.2 million related to the deconsolidation of the Teekay Gas Business.</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%">(5)</font><font style="color:#2e3337;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">Includes common shares related to non-forfeitable stock-based compensation. </font></div><div style="text-align:justify;text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:516.00pt"><tr><td style="width:1.0pt"></td><td style="width:241.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:55.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:51.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:51.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:51.25pt"></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:14pt"><td colspan="3" style="background-color:#279fc7;padding:0 1pt"></td><td colspan="9" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;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:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended</font></td></tr><tr style="height:20pt"><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="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;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="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30,</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">September 30,</font></td></tr><tr style="height:14pt"><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="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;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="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2022</font></td><td colspan="3" style="background-color:#279fc7;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="background-color:#279fc7;color:#ffffff;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">2021</font></td></tr><tr style="height:14pt"><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="background-color:#279fc7;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="background-color:#279fc7;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="background-color:#279fc7;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="background-color:#279fc7;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="background-color:#279fc7;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="background-color:#eef8fc;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:#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 2px 13pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;-  Basic </font></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,608,910&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,498,138&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,307,273&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,485,688&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,090,921&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#eef8fc;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">&#160;-  Diluted</font></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">104,712,406&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">104,651,667&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,307,273&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,485,688&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#000000;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">102,090,921&#160;</font></td><td style="background-color:#eef8fc;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:11pt"><td colspan="3" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Number of outstanding shares of common stock at end of period</font></td><td colspan="2" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">100,401,365&#160;</font></td><td style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">101,872,208&#160;</font></td><td style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">101,571,806&#160;</font></td><td style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">100,401,365&#160;</font></td><td style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="background-color:#eef8fc;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:7pt;font-weight:400;line-height:100%">101,571,806&#160;</font></td><td style="background-color:#eef8fc;border-bottom:1.5pt solid #279fc7;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></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%">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="if7bad017a79346d1a7708bce8175660c_22"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:129.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:112.00pt"></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></tr><tr style="height:21pt"><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 September 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 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 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%">2022</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%">2022</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></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="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="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%">104,802</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%">77,349</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%">58,405</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%">78,008</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%">66,266</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%">50,572</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%">Short-term investments - 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">(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%">245,000</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%">220,000</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%">&#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%">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%">&#8212;</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%">17,913</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%">43,543</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%">192,857</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%">184,923</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%">118,474</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%">Bunker and lube oil inventory</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%">66,173</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%">84,710</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%">49,033</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 assets - discontinued operations</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%">&#8212;</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%">&#8212;</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%">4,804,439</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%">&#8212;</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%">&#8212;</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%">6</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%">5,865</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%">5,638</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%">5,356</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 </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%">1,269,985</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%">1,281,955</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%">1,336,998</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%">16,063</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%">8,701</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%">14,257</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:#333333;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Net investment in direct financing </font><font style="color:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">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%">1,759</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%">12,009</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%">12,009</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 investment in and loans to equity-accounted investment</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%">14,490</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%">14,269</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%">12,954</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 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%">26,227</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%">21,947</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%">25,936</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;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%">2,021,229</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%">1,995,680</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%">6,531,982</font></td></tr><tr style="height:14pt"><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 1pt"></td><td colspan="3" style="background-color:#cfebf5;border-top:2pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;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"><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%">119,929</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%">149,117</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%">144,144</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 liabilities - discontinued operations</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%">&#8212;</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%">&#8212;</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%">2,877,629</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%">&#8212;</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%">15,000</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%">25,000</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 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)</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%">21,184</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%">21,509</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%">239,806</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 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%">82,307</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%">70,738</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%">42,532</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%">Long-term 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)</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%">&#8212;</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%">&#8212;</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%">111,383</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%">487,775</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%">538,314</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%">572,240</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%">16,802</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%">9,613</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%">14,257</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%">61,279</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%">60,026</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%">72,508</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 31pt 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%">&#160;&#160;&#160;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%">640,043</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%">567,309</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%">1,917,433</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%">&#160;&#160;&#160;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%">591,910</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%">564,054</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%">515,050</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%">2,021,229</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%">1,995,680</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%">6,531,982</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 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 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 (cash) 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">(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%">(328,618)</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%">(275,840)</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%">292,778</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">(3)</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%">486,209</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%">552,148</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:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">583,844</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:#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">Short-term investments - Teekay Parent includes various bank term deposits with initial maturity dates of more than three months but less than one year from the origination date.</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%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:8.24pt">As at September 30, 2022, approximately $21.2&#160;million aggregate principal amount of the Convertible Notes due in January 2023 remained outstanding.</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%">(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 debt (cash) 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 and short-term investments.</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><div id="if7bad017a79346d1a7708bce8175660c_25"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:14.5pt;font-weight:400;line-height:120%">Teekay Corporation </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:14.5pt;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:8.5pt;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%">Nine 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%">September 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%">2022</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:8pt;font-weight:700;line-height:100%">2021 </font><font style="color:#ffffff;font-family:'Arial',sans-serif;font-size:5.2pt;font-weight:700;line-height:100%;position:relative;top:-2.8pt;vertical-align:baseline">(1)</font></div></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: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:8pt;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:9pt"><td colspan="3" style="background-color:#cfebf5;padding:2px 1pt;text-align:left;vertical-align:middle"><font style="color:#242424;font-family:'Arial',sans-serif;font-size:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Net income </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:8pt;font-weight:400;line-height:100%">45,535</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:8pt;font-weight:400;line-height:100%">13,480</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Less&#58; loss (income) from discontinued operations</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:8pt;font-weight:400;line-height:100%">20,276</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:8pt;font-weight:400;line-height:100%">(232,645)</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Income (loss) from continuing operations</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">65,811</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(219,165)</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:8pt;font-weight:400;line-height:100%">Non-cash and non-operating items&#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></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:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Depreciation and amortization</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:8pt;font-weight:400;line-height:100%">74,574</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:8pt;font-weight:400;line-height:100%">79,416</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:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;(Gain) loss on sale and write-down of assets</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:8pt;font-weight:400;line-height:100%">(21,863)</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:8pt;font-weight:400;line-height:100%">88,098</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:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Asset retirement obligation extinguishment gain </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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;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:8pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;Other</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:8pt;font-weight:400;line-height:100%">13,802</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:8pt;font-weight:400;line-height:100%">11,503</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></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:8pt;font-weight:400;line-height:100%">&#160;Receipts from sales-type lease</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:8pt;font-weight:400;line-height:100%">11,854</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:8pt;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:8pt;font-weight:400;line-height:100%">&#160;Change in other operating assets and liabilities </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:8pt;font-weight:400;line-height:100%">(104,560)</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:8pt;font-weight:400;line-height:100%">(10,216)</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:8pt;font-weight:400;line-height:100%">&#160;Asset retirement obligation expenditures</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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(1,419)</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:8pt;font-weight:400;line-height:100%">&#160;Expenditures for dry docking</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:8pt;font-weight:400;line-height:100%">(11,204)</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:8pt;font-weight:400;line-height:100%">(23,313)</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:8pt;font-weight:400;line-height:100%">Net operating cash flow - continuing operations</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28,414</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(108,046)</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:8pt;font-weight:400;line-height:100%">Net operating cash flow - discontinued operations</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:8pt;font-weight:400;line-height:100%">26,866</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:8pt;font-weight:400;line-height:100%">154,497</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;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 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">55,280</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">46,451</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></tr><tr style="height:9pt"><td colspan="3" style="background-color:#cfebf5;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:8pt;font-weight:700;line-height:100%">FINANCING ACTIVITIES</font></td><td colspan="3" style="background-color:#cfebf5;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;border-top:1pt solid #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:#242424;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Proceeds from long-term debt</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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">221,167</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:8pt;font-weight:400;line-height:100%">Prepayments of long-term debt</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:8pt;font-weight:400;line-height:100%">(592,221)</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:8pt;font-weight:400;line-height:100%">(80,000)</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:8pt;font-weight:400;line-height:100%">Scheduled repayments of long-term debt</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:8pt;font-weight:400;line-height:100%">(56,914)</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:8pt;font-weight:400;line-height:100%">(8,422)</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:8pt;font-weight:400;line-height:100%">Proceeds from short-term debt</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:8pt;font-weight:400;line-height:100%">134,000</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:8pt;font-weight:400;line-height:100%">35,000</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:8pt;font-weight:400;line-height:100%">Prepayments of short-term debt</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:8pt;font-weight:400;line-height:100%">(159,000)</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:8pt;font-weight:400;line-height:100%">(25,000)</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:8pt;font-weight:400;line-height:100%">Proceeds from financings related to sales and leaseback of vessels, net of issuance costs</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:8pt;font-weight:400;line-height:100%">288,108</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:8pt;font-weight:400;line-height:100%">72,065</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:8pt;font-weight:400;line-height:100%">Prepayment of obligation related to finance leases</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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(184,115)</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:8pt;font-weight:400;line-height:100%">Scheduled repayments of obligations related to finance leases</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:8pt;font-weight:400;line-height:100%">(35,448)</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:8pt;font-weight:400;line-height:100%">(16,313)</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:8pt;font-weight:400;line-height:100%">Sale of Teekay Tankers common shares</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:8pt;font-weight:400;line-height:100%">22,809</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:8pt;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:8pt;font-weight:400;line-height:100%">Purchase of Teekay Tankers common shares</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:8pt;font-weight:400;line-height:100%">(5,269)</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:8pt;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:#333333;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Repurchase of common shares</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:8pt;font-weight:400;line-height:100%">(5,305)</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:8pt;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:8pt;font-weight:400;line-height:100%">Other financing activities</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:8pt;font-weight:400;line-height:100%">(784)</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:8pt;font-weight:400;line-height:100%">(1,041)</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:8pt;font-weight:400;line-height:100%">Net financing cash flow - continuing operations</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(410,024)</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13,341</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:8pt;font-weight:400;line-height:100%">Net financing cash flow - discontinued operations</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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(194,057)</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;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 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(410,024)</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">(180,716)</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></tr><tr style="height:9pt"><td colspan="3" style="background-color:#cfebf5;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:8pt;font-weight:700;line-height:100%">INVESTING ACTIVITIES</font></td><td colspan="3" style="background-color:#cfebf5;border-top:1pt solid #279fc7;padding:0 1pt"></td><td colspan="3" style="background-color:#cfebf5;border-top:1pt solid #279fc7;padding:0 13pt 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:8pt;font-weight:400;line-height:100%">Expenditures for vessels and equipment</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:8pt;font-weight:400;line-height:100%">(11,511)</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:8pt;font-weight:400;line-height:100%">(15,168)</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:8pt;font-weight:400;line-height:100%">Purchase of short-term investments</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:8pt;font-weight:400;line-height:100%">(245,000)</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:8pt;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:8pt;font-weight:400;line-height:100%">Proceeds from sale of vessels and equipment</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:8pt;font-weight:400;line-height:100%">82,621</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:8pt;font-weight:400;line-height:100%">44,675</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:8pt;font-weight:400;line-height:100%">(Advance to) repayment from equity-accounted joint venture</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:8pt;font-weight:400;line-height:100%">(3,000)</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:8pt;font-weight:400;line-height:100%">1,500</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:8pt;font-weight:400;line-height:100%">Proceeds from the sale of the Teekay Gas Business, net of cash sold</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:8pt;font-weight:400;line-height:100%">454,789</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:8pt;font-weight:400;line-height:100%">&#8212;</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:8pt;font-weight:400;line-height:100%">Net investing cash flow - continuing operations</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">277,899</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">31,007</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:8pt;font-weight:400;line-height:100%">Net investing cash flow - discontinued operations</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:8pt;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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(15,008)</font></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#eef8fc;border-top:1pt solid #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%">Net investing cash flow</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">277,899</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">15,999</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:8pt;font-weight:400;line-height:100%">Decrease in cash, cash equivalents and restricted cash </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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(76,845)</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(118,266)</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:8pt;font-weight:400;line-height:100%">Cash, cash equivalents and restricted cash, beginning of the period</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:8pt;font-weight:400;line-height:100%">265,520</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:8pt;font-weight:400;line-height:100%">405,890</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:8pt;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 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">188,675</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:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:700;line-height:100%">287,624</font></td></tr></table></div><div style="margin-top:2pt;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">Comparative balances relating to the nine months ended September 30, 2021 have been recast</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">. </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">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 Income</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="if7bad017a79346d1a7708bce8175660c_28"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><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="colorlogo05.jpg" src="colorlogo05.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="background-color:#ffffff;color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:100%">Adjusted Net Income Attributable to Shareholders of Teekay</font></div><div style="padding-left:9pt"><font style="background-color:#ffffff;color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">(in t</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:120%">housands 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:517.50pt"><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:234.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:43.75pt"></td><td style="width:1.0pt"></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: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%">Nine 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: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%">September 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><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%">September 30,</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: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%">2022</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%">2022</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%">2022</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: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><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></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:700;line-height:100%">Net 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%">80,856</font></td><td colspan="3" style="background-color:#eef8fc;padding: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%">18,078</font></td><td colspan="3" style="background-color:#eef8fc;padding: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%">45,535</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 income attributable to</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:#ee2724;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 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;border-bottom:1pt solid #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: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%">(47,723)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ee2724;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%">(12,796)</font></td><td colspan="3" style="background-color:#eef8fc;padding: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%">(6,232)</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:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">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: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><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;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%">33,133</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%">0.32</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%">5,282</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%">0.05</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%">39,303</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:700;line-height:100%">0.38</font></td></tr><tr style="height:24pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #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:120%">(Subtract) add specific items affecting net income (loss)</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:#ee2724;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 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: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: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%">Unrealized gains from derivative instruments</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%">(1,126)</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%">(576)</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%">(3,842)</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></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%">FPSO decommissioning costs, 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%">(2,750)</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%">(0.03)</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%">5,970</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%">4,832</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: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%">Gain on sale of assets</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%">(21,131)</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%">(0.21)</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%">(1,153)</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%">(21,863)</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%">(0.21)</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%">1,000</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%">1,960</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%">5,169</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: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%">Items relating to discontinued operations</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%">&#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%">&#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%">36,594</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%">0.36</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:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on bond repurchases and 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">(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%">(927)</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%">(1,137)</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%">12,255</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%">0.12</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">(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%">7,113</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%">(4,840)</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><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%">(52,158)</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%">(0.51)</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: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%">(17,821)</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><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%">224</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%">&#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:#242424;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(19,013)</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%">(0.19)</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:700;line-height:100%">Adjusted net 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:#ee2724;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 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;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 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%">15,312</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%">0.15</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%">5,506</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%">0.05</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%">20,290</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%">0.20</font></td></tr></table></div><div style="margin-bottom:2pt;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%">(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-bottom:2pt;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%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">Primarily relates to items presented in loss from discontinued operations on the consolidated statements of income, including unrealized gains on derivative instruments. Also includes the loss on deconsolidation of $58.9 million in the nine months ended September 30, 2022.</font></div><div style="margin-bottom:2pt;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">Includes a loss on the repurchase of the 2022 Notes in full and a loss on repurchases of the Convertible Notes. Refer to footnote (3) 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 Income</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">. Also includes foreign currency exchange gains.</font></div><div style="margin-bottom:2pt;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">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="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;text-align:justify;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;padding-left:9pt;text-indent:-9pt"><font><br></font></div><div style="margin-top:2pt;padding-left:9pt;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%">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><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><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="colorlogo05.jpg" src="colorlogo05.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;padding-left:9pt;text-indent:-9pt"><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%"> &#160;&#160;&#160;&#160;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 Attributable to Shareholders of Teekay</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:514.50pt"><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:256.75pt"></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><td style="width:1.0pt"></td><td style="width:60.25pt"></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><td style="width:1.0pt"></td><td style="width:60.25pt"></td><td style="width:1.0pt"></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: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%">Nine 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: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%">September 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%">September 30,</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: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></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: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 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: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></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><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;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%">Net 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%">9,580</font></td><td colspan="3" style="background-color:#eef8fc;padding: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%">13,480</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 (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:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ee2724;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 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:#000000;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%">(12,493)</font></td><td colspan="3" style="background-color:#eef8fc;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ee2724;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%">11,714</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:#000000;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 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;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:400;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%">(2,913)</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%">(0.03)</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%">25,194</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%">0.25</font></td></tr><tr style="height:24pt"><td colspan="6" style="background-color:#eef8fc;border-top:1pt solid #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:120%">(Subtract) add specific items affecting net income (loss)</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:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#ee2724;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 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: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%">Unrealized gains from derivative instruments</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%">(395)</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%">(1,514)</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></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%">FPSO decommissioning costs, 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%">475</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%">7,639</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: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%">Write-down of assets</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%">697</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%">88,098</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">(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%">&#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%">(0.32)</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></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%">Items relating to discontinued operations</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 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%">(12,312)</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%">(0.12)</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%">(35,241)</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%">(0.35)</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%">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%">3,414</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%">0.03</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%">7,050</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: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">(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%">11,129</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><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%">(47,134)</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%">(0.46)</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: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%">3,008</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%">0.03</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%">(13,749)</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%">(0.13)</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:700;line-height:100%">Adjusted net income attributable to </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:#ee2724;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 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;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 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%">95</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%">11,445</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:2pt;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%">(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: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%">(2)</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%;padding-left:17.24pt">The nine months ended September 30, 2021 includes the derecognition of the asset retirement obligation (or </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">ARO</font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">) liability relating to the </font><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:8pt;font-style:italic;font-weight:400;line-height:120%">Petrojarl Banff</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 the fulfillment of decommissioning obligations relating to the Banff field.</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">Primarily relates to items presented in income from discontinued operations on the consolidated statements of income, including unrealized gains on derivative instruments. </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">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="margin-top:2pt;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%">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="if7bad017a79346d1a7708bce8175660c_31"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><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="colorlogo05.jpg" src="colorlogo05.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 for the Three Months Ended </font></div><div><font style="color:#40b4e5;font-family:'Arial',sans-serif;font-size:15pt;font-weight:400;line-height:120%">September&#160;30, 2022</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:516.75pt"><tr><td style="width:1.0pt"></td><td style="width:18.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:158.50pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:82.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:82.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:82.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:82.00pt"></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%">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%">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 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%">279,386</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%">23,813</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%">303,199</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 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%">(135,013)</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%">(135,013)</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%">(35,983)</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%">(23,638)</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%">42</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%">(59,579)</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%">(7,236)</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%">(7,236)</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%">(24,251)</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%">(24,251)</font></td></tr><tr style="height:14pt"><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%">General and administrative expenses</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%">(9,687)</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%">(3,926)</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%">(42)</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%">(13,655)</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%">Gain 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%">8,156</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%">12,975</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%">21,131</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%">Restructuring charges </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%">(1,211)</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%">(1,211)</font></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#eef8fc;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%">&#160;</font></div></td><td colspan="3" style="background-color:#eef8fc;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%">&#160;</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><td colspan="3" style="background-color:#eef8fc;border-top:1pt 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:top"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Income from vessel operations</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%">75,372</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%">8,013</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%">83,385</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></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%">(9,024)</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%">(379)</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%">(9,403)</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%">216</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%">1,537</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%">1,753</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 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></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"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">non-designated derivative instruments</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%">1,698</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%">1,698</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</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%">221</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%">221</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 income 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%">20,330</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%">(20,330)</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</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%">(1,270)</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%">(247)</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%">(1,517)</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%">Loss on bond repurchases</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)</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)</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%">840</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%">3,965</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%">4,805</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 from continuing</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></tr><tr style="height:12pt"><td colspan="6" style="background-color:#eef8fc;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">operations</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%">68,053</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%">33,133</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%">(20,330)</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%">80,856</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="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 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></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%">&#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%">(47,723)</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%">(47,723)</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:top"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">Net income attributable</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></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:top"><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">to shareholders&#47;unitholders</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></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%">&#160;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%">68,053</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%">33,133</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%">(68,053)</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%">33,133</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 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 income of its publicly-traded subsidiary, Teekay Tankers.</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 represents the public&#8217;s share of the net income of Teekay&#8217;s publicly-traded subsidiary.  </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="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><div id="if7bad017a79346d1a7708bce8175660c_34"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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 - 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 </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:10.00pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:294.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:66.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:66.25pt"></td><td style="width:1.0pt"></td><td style="width:1.0pt"></td><td style="width:66.25pt"></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%">September 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%">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%">September 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%">2022</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%">2022</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></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:#000000;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%">80,856</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%">18,078</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%">9,580</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%">24,251</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%">25,243</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%">25,837</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%">7,650</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%">8,690</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%">16,849</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 expense (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%">1,517</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%">(585)</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%">(816)</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%">114,274</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%">51,426</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%">51,450</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:400;line-height:100%">Specific income statement items affecting EBITDA&#58;</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></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:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(Gain) loss on sale and write-down 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%">(21,131)</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%">(1,153)</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%">697</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 and unrealized (gains) losses 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%">(1,698)</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%">(571)</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%">282</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;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%">Realized gains (losses) from the settlements of non-designated</font></div><div style="text-indent:4.5pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;derivative instruments</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%">380</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%">(38)</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%">(359)</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:#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 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%">(221)</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%">931</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%">873</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:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Loss on bond repurchases</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%">86</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%">198</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%">&#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:#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 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%">(4,805)</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%">51</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%">3,683</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><font style="color:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Items relating to income from discontinued operations</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:#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 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%">&#8212;</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%">25,350</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%">Adjusted EBITDA</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:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">86,885</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:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">50,844</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:#2c2c2c;font-family:'Arial',sans-serif;font-size:9pt;font-weight:700;line-height:100%">81,976</font></td></tr></table></div><div style="text-align:justify;text-indent:-9pt"><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">Includes amounts presented in income from discontinued operations on the consolidated statements of income.</font></div><div style="text-align:justify"><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%">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="if7bad017a79346d1a7708bce8175660c_37"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.415%"><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="colorlogo05.jpg" src="colorlogo05.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:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">This release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements included in this report, other than statements of historical fact, are forward-looking statements. When used in this report, the words &#8220;expect,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;may,&#8221; &#8220;will&#8221; or similar words are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements and any such forward-looking statements are qualified in their entirety by reference to the following cautionary statements. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. Forward-looking statements contained in this release include, among others, statements regarding&#58; management&#8217;s expectations regarding positive tanker market fundamentals&#59; Teekay Tankers' ability to utilize its operating leverage to benefit from a strengthened tanker market&#59;  Teekay Parent's ability to utilize its relative financial position to pursue future investment opportunities and create long-term shareholder value&#59; Teekay Parent&#8217;s expectations regarding the amounts and settlements of recycling, decommissioning and&#47;or other asset retirement obligations, as the case may be, related to the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%">Petrojarl Foinaven </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">and </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%">Sevan Hummingbird </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">FPSOs&#59; the adequacy of the combined contractual lump sum payment and sale proceeds respectively received for these FPSO units to offset any such obligations&#59; the future unencumbered status of four Teekay Tankers vessels following repayment of one of its credit facilities&#59; the continuing impact of COVID-19 (including new variants thereof) on the Company&#8217;s business and tanker and oil market fundamentals&#59; the impact of the invasion of Ukraine by Russia on the economy, our industry and our business, including as a result of sanctions on Russian and Belarusian companies and individuals&#59; and the anticipated impact of altered trade patterns, increased global oil and tanker demand compared to forecasted worldwide tanker fleet growth on tanker rates. </font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%">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; the availability to Teekay of appropriate future growth opportunities and Teekay&#8217;s financial or other ability to pursue such opportunities&#59; changes in the demand for oil and refined products&#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 pandemic, including any variants of the virus, 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; issues with vessel operations&#59; higher than expected costs and expenses, off-hire days or dry-docking requirements (both scheduled and unscheduled)&#59; higher than expected costs and&#47;or delays associated with the decommissioning and recycling of the </font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:125%">Petrojarl Foinaven</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:125%"> FPSO&#59; changes in applicable industry laws and regulations and the timing of implementation of new laws and regulations, including IMO 2030&#59; the potential for early termination of long-term contracts of existing vessels or related to services&#59; Russia&#8217;s invasion of Ukraine and related sanctions&#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, 2021. 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%">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></body></html>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
