Slide 1: Teekay's Q3-2017 Earnings Presentation
TEEKAY’S Q3- 2017 EARNINGS PRESENTATION November 9, 2017
Slide 2: Forward Looking Statements
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: the effects of, and ability of Te
Slide 3: Q3-17 Results
Q3-17 Results Teekay Corporation Consolidated • Generated Q3-17 consolidated total cash flow from vessel operations (CFVO)(1) of $238.1 million • Reported Q3-17 consolidated adjusted net loss(1) of $35.6 million, or $0.41 per share Teekay LNG • Generated Q3-17 distributable cash flow(1) of $40.2 mil
Slide 4: Recent Transactions
Recent Transactions • Two strategic transactions across the Teekay Group o Teekay and Teekay Offshore completed their strategic partnership with Brookfield, which significantly strengthens their financial positions o Two leading independent proxy advisory firms have both recommended to vote “FOR” Te
Slide 5: Teekay Group Projects Recently Delivered
Teekay Group Projects Recently Delivered Randgrid FSO Libra FSO Two East Coast Canada Shuttle Tankers Commenced charter contract with Statoil in Oct-17 Delivered and scheduled to commence charter contract in Delivered and scheduled to start charter contracts late Nov-17 in Dec-17 / Jan-18 ALP Towage
Slide 6: Early-innings of Cash Flow Growth
Early-innings of Cash Flow Growth Project 2017 2018 2019 2020 Randgrid FSO Firm period out to 2020; Statoil Options out to 2032 (conversion) Libra FPSO (50%) Petrobras / Total / Shell / Out to 2029 (conversion) CNPC / CNOOC` East Coast Canada Firm Period out to 2030; TOO Options out to 2035 Shuttle
Slide 7: Poised to Benefit from Stronger Oil Prices
Poised to Benefit from Stronger Oil Prices Teekay Parent’s 3 directly-owned FPSOs benefit from oil price and production tariffs Hummingbird Spirit Banff Foinaven As of Oct. 1st, commenced 3- Operating under Evergreen contract Unit returned to service on Oct. year contract extension to 27 after sched
Slide 8: Green Shoots of a Broad Energy Recovery
Green Shoots of a Broad Energy Recovery Offshore Gas Tankers • Crude oil prices above $60 / bbl • Global LNG trade up 11% y-o-y in • Tanker rates up from Q3-17 lows; for the first time since July 2015 2017 as new LNG liquefaction asset prices have found a floor capacity comes online • Offshore field
Slide 9: Appendix
Appendix 9
Slide 10: Consolidated Adjusted Net Loss
Consolidated Adjusted Net Loss Q3-17 Three Months Ended For the Period July 1 - Three Months Ended September 30, 2017 September 25, 2017 September 30, 2017 Reclass for (in thousands of US dollars, except per share amounts) Realized Gains/ Consolidated Consolidated Appendix A Losses Consolidated Teek
Slide 11: Q4 2017 Outlook – Teekay Consolidated
Q4 2017 Outlook – Teekay Consolidated Income Q4 2017 Statement Item Outlook (expected changes from Q3-17) (1) Teekay Parent: • $11m increase from the Foinaven FPSO from the recognition of annual operational tariff revenue in Q4-17 and the scheduled maintenance shutdown in Q3-17 • $5m increase from t
Slide 12: Bringing Energy to the World
BRINGING ENERGY TO THE WORLD