Slide 1: Teekay's Q4-2016 Earnings Presentation
TEEKAY’S Q4- 2016 EARNINGS PRESENTATION February 24, 2017
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements (as defined in Section 21E of the U.S. Securities Exchange Act of 1934, as amended) which reflect management's current views with respect to certain future events and performance, including statements regarding: the out
Slide 3: Recent Highlights
Recent Highlights • Generated Q4-16 consolidated cash flow from vessel operations(1) of $290.5 million • Reported Q4-16 adjusted net loss(1) of $18.6 million, or $0.22 per share • Declared a Q4-16 cash dividend of $0.055 per share • Extended the firm periods of the Banff and Hummingbird Spirit FPSO
Slide 4: Recent Daughter Highlights
Recent Daughter Highlights Teekay LNG Partners • Generated Q4-16 distributable cash flow(1) of $50.2 million, or $0.63 per common unit • Declared Q4-16 cash distribution of $0.14 per unit • Completed approximately $1.7 billion(2) in debt and equity financings in Q4-16 • Scheduled to take delivery of
Slide 5: Teekay Group Top Priorities in 2017/18
Teekay Group Top Priorities in 2017/18 Maintaining safety standards and operational excellence while focusing on strengthening our financial and operational positions Teekay Corporation • Securing/renewing charters for directly-owned and in-chartered assets • Strengthening project management capabil
Slide 6: Teekay Group's Growth Projects
Teekay Group’s Growth Projects Project 2017 2018 2019 2020 ALP Towage Newbuildings Gina Krog FSO Statoil Firm period out to 2020; Options out to 2032 (conversion) Libra FPSO (50%) Petrobras / Total / Shell / CNPC / CNOOC Out to 2029 (conversion) Chevron / Husky / Nalcor / Murphy / CHH / Exxon / Stat
Slide 7: Teekay is an Integral Part of its Customers' Supply Chain
Teekay is an Integral Part of its Customers’ Supply Chain • The world needs new sources of oil to meet demand growth and to offset declines from existing fields • New discoveries are in deeper waters, further from shore (suits an FPSO + shuttle solution) • TOO is the world’s largest shuttle tanker o
Slide 8: Appendix
Appendix 8
Slide 9: Q1 2017 Outlook – Teekay Consolidated
Q1 2017 Outlook – Teekay Consolidated Income Q1 2017 Statement Item Outlook (expected changes from Q4-16) Teekay Parent: $15m decrease from FPSOs, including from the Foinaven Q4-16 recognition of annual operational tariff revenue and maintenance shutdowns in Q1-17 for the Foinaven and Banff FPSOs,
Slide 10: Q4-16 Consolidated Adjusted Line Items
Q4-16 Consolidated Adjusted Line Items Income Statement Item As Reported Appendix A Reclassification As Adjusted Items (1) for Realized Gains/ Loss on Derivatives (2) Revenues 552,203 (295) 932 552,840 Vessel Operating Expenses (OPEX) (199,352) - (178) (199,530) General & Administrative Expenses (26
Slide 11: Bringing Energy to the World
BRINGING ENERGY TO E WORLD