Teekay Group Announces First Quarter 2016 Earnings Results Conference Calls

HAMILTON, BERMUDA–(Marketwired – May 2, 2016) – Teekay Corporation (Teekay) (NYSE:TK), Teekay LNG Partners L.P. (Teekay LNG) (NYSE:TGP), Teekay Offshore Partners L.P. (Teekay Offshore) (NYSE:TOO) and Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) plan to release their financial results for the first quarter of 2016 before market open on Thursday, May 19, 2016 and host conference calls to discuss these results. All shareholders, unitholders and interested parties are invited to listen to the live conference calls by choosing from the following options:

• By dialing:

Entity	Date	Time (ET)	Telephone Number (North America)	Telephone Number (International)	Conference Code
Teekay Tankers	May 19, 2016	11:00 a.m.	1-800-505-9587	1-416-204-9524	4223975
Teekay Offshore	May 19, 2016	12:00 p.m.	1-800-524-8950	1-416-260-0113	4260566
Teekay	May 19, 2016	1:30 p.m.	1-800-505-9573	1-416-204-9498	2764696
Teekay LNG	May 20, 2016	10:00 a.m.	1-800-505-9568	1-416-204-9271	9220450

• By accessing the webcasts, which will be available on Teekay’s website www.teekay.com at the times noted above (the archive will remain on the website for a period of 30 days).

Accompanying First Quarter 2016 Earnings Presentations will also be available at www.teekay.com in advance of the conference call start times. In addition to the webcast archives, the conference calls will be recorded and available for 14 days following the live conference calls. These recordings can be accessed by dialing 1-888-203-1112 or 1-647-436-0148, if outside North America, and entering the corresponding conference codes in the table above. With the adoption of Teekay Tankers’ new dividend policy announced in December 2015, Teekay Tankers intends to declare its quarterly cash dividend for the first quarter of 2016, and subsequent quarters, concurrently with the release of Teekay Tankers’ quarterly financial results. About Teekay Teekay Corporation operates in the marine midstream space through its ownership of the general partners and a portion of the outstanding limited partner interests in Teekay LNG Partners L.P. (NYSE:TGP) and Teekay Offshore Partners L.P. (NYSE:TOO). The general partners own all of the outstanding incentive distribution rights of these entities. In addition, Teekay has a controlling ownership interest in Teekay Tankers Ltd. (NYSE:TNK) and directly owns a fleet of vessels. The combined Teekay entities manage and operate consolidated assets of over $13 billion, comprised of approximately 220 liquefied gas, offshore, and conventional tanker assets. With offices in 15 countries and approximately 7,700 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies. Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol “TK”. About Teekay LNG Teekay LNG Partners is one of the world’s largest independent owners and operators of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 50 LNG carriers (including one LNG regasification unit and 20 newbuildings), 29 LPG/Multigas carriers (including two in-chartered LPG carriers and six newbuildings) and seven conventional tankers. The Partnership’s interests in these vessels range from 20 to 100 percent. Teekay LNG Partners L.P. is a publicly-traded master limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors. Teekay LNG Partners’ common units trade on the New York Stock Exchange under the symbol “TGP”. About Teekay Offshore Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the offshore oil industry, primarily focusing on the deepwater offshore oil regions of the North Sea, Brazil and the East Coast of Canada. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) with consolidated assets of approximately $5.7 billion, comprised of 66 offshore assets, including shuttle tankers, floating production, storage and offloading (FPSO) units, floating storage and offtake (FSO) units, units for maintenance and safety (UMS), long-distance towing and offshore installation vessels and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts. Teekay Offshore’s common units trade on the New York Stock Exchange under the symbol “TOO”. About Teekay Tankers Teekay Tankers currently owns a fleet of 45 double-hull tankers, including 22 Suezmax tankers, 14 Aframax tankers, 7 Long Range 2 (LR2) product tankers and 2 Medium-Range (MR) product tankers, and has 9 contracted time charter-in tankers. Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business and a minority interest of over 11 percent in Tanker Investments Ltd. (OSE: TIL), which currently owns a fleet of 18 modern tankers. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business. Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK.”