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Teekay Corporation | Jefferies Global Shipping Conference | Peter Evensen | Page 2 of 11 | April 26, 2024

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toolButton prevButton nextButton prevKeyButton nextKeyButton prevKeyButton nextKeyButton byDateAscButton byDateDescButton byCompanyNameAscButton byCompanyNameDescButton hidden hidden		Document: "Jefferies Global Shipping Conference" View Full Document		× Search Selection Search by Text Search Search by Slide Search Cross reference your docFinder results against PLS' extensive news archives. For demo or training contact Melwyn Oommen, melwyn.oommen@drillinginfo.com
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3 Investment Highlights www.teekay.com �f Diversified marine midstream operator with stable operating cash flows: over 80% of total fleet operating days under long-term, fixed- rate contracts to high quality oil and gas companies �f Asset manager with incremental growth through new offshore and shipping projects �f Market leadership in each business segment �f 2010 profitability improvement driven by fixed-rate contract renewals at higher rates, recovery of spot tanker rates and cost reductions �f Flexible corporate structure with access to multiple capital sources �f Strong and improving credit profile 4 31.7% Ownership (incl. 2% GP interest) Teekay Group Corporate Structure TEEKAY PARENT NYSE: TK # of Vessels 1 Value �f Teekay Parent Fleet 53 $1.9b �f Equity Investment in Daughter Companies 2.1b $4.0b TEEKAY LNG PARTNERS L.P. NYSE: TGP �f Market Cap: $1.8b �f MLP focused on gas projects �f 10 – 25 year fixed rate contracts �f 32 vessels (3 newbuilds) NYSE: TNK �f Market Cap: $519m �f C-Corp focused on conventional tankers �f Spot / short-term time-charters (0–3 years) �f 13 vessels 3 NYSE: TOO NYSE: TOO �f Market Cap: $1.1b �f MLP focused on offshore projects �f 3 - 10 year fixed rate contracts �f 52 vessels 2 (6 in-chartered) TEEKAY OFFSHORE PARTNERS L.P. TEEKAY TANKERS LTD. 47.7% Ownership (incl. 2% GP interest) 37.1% Economic Ownership / 55.0% Voting www.teekay.com Note: Market capitalization based on September 3, 2010 closing prices. Vessel numbers include newbuildings and in-chartered vessels; vessel values on a charter-free basis, excludes in-chartered vessels, includes >50% JV-owned vessels and progress payments on newbuildings as of June 30, 2010. Vessel values as per Fearnleys as at April 21, 2010, KennedyMarr as at June 30, 2009 (Petrojarl 1, Petrojarl Foinaven and Petrojarl Banff) and as at April 21, 2009 (Petrojarl Cidade De Rio Das Ostras). 1 Includes 24 chartered-in vessels and 8 newbuilds. 2 46 vessels included in OPCO, which is 51% owned by Teekay Offshore and 49% owned by Teekay Parent. 3 Excludes the 1995-built Aframax tanker, Sotra Spirit, which as delivered to new owners on August 26, 2010. CONTROLCONTROLCONTROL �f Stable Dividend Policy Current Yield: 7% �f Stable Dividend Policy Current Yield: 8% �f Variable Dividend Policy Current Yield: 11% Current Yield: 5%