Teekay Group Announces First Quarter 2017 Earnings Results Conference Calls; and Availability of Its Reports on Form 20-F for the Year Ended December 31, 2016

HAMILTON, BERMUDA--(Marketwired - May 8, 2017) - 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 2017 before market open on Thursday, May 18, 2017 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:

• 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 one year).

Accompanying First Quarter 2017 Earnings Presentations will also be available at www.teekay.com in advance of the conference call start times.

In addition, Teekay, Teekay LNG, Teekay Offshore and Teekay Tankers have filed their annual reports on Form 20-F for the year ended December 31, 2016 with the U.S. Securities and Exchange Commission. The annual reports are available on our website, under "Investors - Financials and Presentations - SEC Filings" at www.teekay.com. Shareholders may request a printed copy of these annual reports, including complete audited financial statements, free of charge by contacting investor relations.

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 approximately $13 billion, comprised of approximately 220 liquefied gas, offshore, and conventional tanker assets. With offices in 14 countries and approximately 7,900 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 trades on the New York Stock Exchange 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 18 newbuildings), 30 LPG/Multigas carriers (including four newbuildings) and five 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 and preferred units trade on the New York Stock Exchange under the symbol "TGP" and "TGP PR A", respectively.

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 oil industry, primarily focusing on oil production-related activities of its customers and operating in 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 62 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 and the Series A and B preferred units trade on the New York Stock Exchange under the symbol "TOO", "TOO PR A", and "TOO PR B", respectively.

About Teekay Tankers

Teekay Tankers currently owns a fleet of 40 double-hull tankers, including 20 Suezmax tankers, 13 Aframax tankers and seven Long Range 2 (LR2) product tankers, and has three 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."