Teekay Corporation (NYSE:TK) Q1 2020 Earnings Conference Call May 21, 2020 11:00 AM ET Company Participants Ryan Hamilton - Investor Relations Kenneth Hvid - President and Chief Executive Officer Vince Lok - Chief Financial Officer and Executive Vice President Conference Call Participants Michael Webber - Weber Research J Mintzmyer - Value InvestorÂ's Edge Operator Welcome to Teekay Corporation's First Quarter 2020 Earnings Results Conference Call. During the call, all participants will be in a listen-only ...

Teekay Consolidated Highlights - Q1 2020 total adjusted EBITDA was $342 million, compared to $214 million in Q1 2019 (excluding Altera)[4] - Q1 2020 consolidated adjusted net income was $25 million, or $025 per share, compared to an adjusted net loss of $(13) million, or $(013) per share, in Q1 2019[4] - The company had a strong consolidated pro forma liquidity position of over $900 million[4] Teekay Parent Strategic Moves - Eliminated TGP Incentive Distributions Rights (IDRs) in exchange for 1075 million newly-issued TGP common units[4,10] - Secured a new bareboat charter contract for the Foinaven FPSO, receiving a $67 million upfront payment in early April[4] Teekay LNG (TGP) Achievements - Q1 2020 total adjusted EBITDA was $188 million and adjusted net income was $52 million, or $058 per unit, up 19%, 57% and 71% from Q1 2019, respectively[16] - Proportionate Net Debt / Total Adj EBITDA decreased from 72x in 2019 to 61x in Q1 2020[16] - Increased Q1 2020 distributions by 32% in May 2020[16] Teekay Tankers (TNK) Performance - Q1 2020 total adjusted EBITDA was $155 million, compared to $63 million in Q1 2019[23] - Q1 2020 adjusted net income was $110 million, or $327 per share, compared to $15 million, or $044 per share, in Q1 2019[23] - Reduced net debt by approximately $200 million, or 21%, since the beginning of 2020[23]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ____________________________________ (Mark One) ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ý ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ¨ SHELL COMPANY REPORT PURSUANT TO S ...

Teekay Corporation (NYSE:TK) Q4 2019 Earnings Conference Call February 27, 2020 11:00 AM ET Company Participants Ryan Hamilton - IR Kenneth Hvid - President & Chief Executive Officer Vince Lok - Chief Financial Officer & Executive Vice President Conference Call Participants Operator Good day and welcome to the Teekay Corporation's Fourth Quarter and Fiscal 2019 Earnings Results Conference Call. During the call, all participants will be in a listen-only mode. Afterwards, you will be invited to participate in ...

| --- | --- | |-------|-------| | | | | | | Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,as amended) which reflect management's current views with respect to certain future events and performance, including statements, among other things, regarding: Teekay LNG's intention to increase its quarterly cash distributions on its common units by 32 percent in 2020; expected stronger earnings, cash flows, and balan ...

| --- | --- | |----------------------------------------------|-------------------| | | | | | | | | | | Teekay Corporation Q3-2019 Earnings Appendix | November 14, 2019 | Consolidated Adjusted Net Loss Reconciliation Q3-19 vs Q2-19 | --- | --- | --- | --- | --- | |------------------------------------------------------------------------------------------|-------------------------|-------------------------|----------|---------------------------------------------------------------------------------------------- ...

Teekay Corporation (NYSE:TK) Q2 2019 Earnings Conference Call August 1, 2019 1:00 PM ET Company Participants Kenneth Hvid - President & Chief Executive Officer Lee Edwards - CFA-Financial Analyst Vince Lok - Chief Financial Officer & Executive Vice President Conference Call Participants Operator Welcome to the Teekay Corporation's Second Quarter 2019 Earnings Results Conference Call. During the call, all participants are in a listen-only mode. Afterwards, you will be invited to participate in a question-and ...

| --- | --- | |-------|-------| | | | | | | Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,as amended) which reflect management's current views with respect to certain future events and performance, including statements, among other things, regarding: the ability of Teekay LNG to return capital to unitholders while also continuing to delever its balance sheet; the timing of newbuilding vessel and project deli ...

Teekay Corporation (NYSE:TK) Q1 2019 Earnings Conference Call May 23, 2019 2:00 PM ET Company Participants Kenneth Hvid - President and CEO Lee Edwards - CFA-Financial Analyst Vince Lok - Chief Financial Officer and Executive Vice President Conference Call Participants Michael Webber - Wells Fargo Operator Welcome to the Teekay Corporation's First Quarter 2019 Earnings Results Conference Call. During the call, all participants will be in a listen-only mode. Afterwards, you will be invited to participate in ...

Teekay Corporation Q1-2019 Earnings Presentation May 23, 2019 Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934,as amended) which reflect management's current views with respect to certain future events and performance, including statements, among other things, regarding: Teekay Parent's delevering and financial flexibility; expected reductions in Teekay Parent's interest expense and increases in its free cash f ...