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    Tim Chang • Bank of America

    Tim Chang's questions to Teekay Corp Ltd (TK) leadership

    Tim Chang's questions to Teekay Corp Ltd (TK) leadership • Q2 2025

    Question

    Tim Chang, on behalf of Ken Hoexter at Bank of America, inquired about the timing of the expected tanker rate uplift from increased oil production, and asked for an explanation for the material increase in 'Other Revenue' during the quarter.

    Answer

    Christian Waldegrave, Director of Research, projected that increased oil volumes and geopolitical factors would likely lead to stronger, more volatile rates in the latter part of the year. CFO Brody Speers clarified that 'Other Revenue' was higher due to a one-time $6 million charge related to an expired FPSO contract, which should not be considered part of the normal run rate.

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    Tim Chang's questions to Teekay Tankers Ltd (TNK) leadership

    Tim Chang's questions to Teekay Tankers Ltd (TNK) leadership • Q2 2025

    Question

    Tim Chang from Bank of America inquired if the anticipated tanker rate uplift from OPEC+ and non-OPEC production increases would primarily occur in Q4, and also asked about the significant increase in 'other revenue'.

    Answer

    Christian Waldegrave, Director of Research, confirmed that increased oil volumes and seasonality should lead to stronger rates in the latter part of the year. CFO Brody Speers clarified that the 'other revenue' increase was due to a one-time, approximately $6 million charge related to an expired FPSO contract, which is not a recurring item.

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