Slide 1: Third Quarter 2021 Earnings Presentation
Teekay Corporation Third Quarter 2021 Earnings Presentation November 4, 2021
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 statements, among other things, re
Slide 3: Q3-21 Highlights: Quarterly Cash Flows and Earnings
Teekay Group Total Adjusted EBITDA(1) Quarterly Cash Flows and Earnings Q3-21 Highlights 200 • Total Adjusted EBITDA(1) of $165 million in Q3-21, 180 compared to $172 million in Q2-21 160 172 165 140 Stronger results from our $ Millions • Consolidated Adjusted Net Income(1) of $95 120 marine service
Slide 4: Teekay LNG's Pending Merger with Stonepeak
Teekay LNG’s Pending Merger with Teekay Built TGP’s Leading Market Position Since IPO in 2005, grown TGP into the 3rd largest independent LNG shipping company Stonepeak Transaction Highlights Attractive valuation and provides Teekay LNG with access to required capital to renew and grow its fleet, wh
Slide 5: Teekay Corp's SOTP Value Post-TGP/Stonepeak Merger
Teekay Corp’s SOTP Value Post- TGP/Stonepeak Merger Sum-of-the-parts (SOTP) ($ Millions) Dec. 31/2020(1) Post-Teekay LNG / Proforma for the TGP / Stonepeak Stonepeak transaction, Teekay Merger(2) Corp’s SOTP value is approximately $4.57 per share, TGP Investment (37.5M GP / LP units) $430 - which re
Slide 6: Well-Positioned for the Future
Well-Positioned for the Future Financial flexibility and Teekay has a Strong Brand and Reputation Future Opportunities industry-leading capabilities in the Maritime Space for disciplined pursuit of investments in a dynamic • Operational excellence for nearly 50 years industry as the world pushes for
Slide 7: Appendix
Appendix 7
Slide 8: Consolidated Adjusted Net Income Reconciliation
(1) (1) Consolidated Adjusted Net Income Reconciliation(1) (Thousands of U.S. Dollars except Q3-2021 Q2-2021 per share am ounts) (unaudited) (unaudited) Variance Com m ents Q3-21 vs. Q2-21 Revenues 319,994 325,351 (5,357) Voyage expenses (85,556) (78,128) (7,428) Teekay Parent - $4m increase primari
Slide 9: Q4-2021 Outlook - Teekay Consolidated
Q4-2021 Outlook – Teekay Consolidated Q3-21 in millions Q4-21 Adjusted Net Income Outlook Income Statement Item adjusted basis (expected changes from Q3-21) (1) Teekay LNG • $7M increase primarily due to few er drydocking days anticipated in Q4-21, low er forecasted operational claims and higher for
Slide 10: Consolidated Adjusted Statement of Net Income Reconciliation
Consolidated Adjusted Statement of Net Income Reconciliation Three Months Ended Three Months Ended Q3-21 vs. Q2-21 September 30, 2021 June 30, 2021 Reclass for Reclass for (in thousands of US dollars, except per share amounts) Realized Gains/ Realized Gains/ Appendix A Losses on Appendix A Losses on
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