TEEKAY TANKERS LTD. REPORTS
SECOND QUARTER RESULTS
Hamilton, Bermuda, August 11, 2010 — Teekay Tankers Ltd. ( Teekay Tankers or the Company) today
reported its second quarter results for 2010. During the quarter, the Company generated $16.7 million in Cash
Available for Distribution (1) , up from $13.8 million in the quarter ended March 31, 2010. Today, Teekay Tankers
declared a dividend of $0.34 per share for the second quarter of 2010, representing a total cash dividend of
$14.7 million (2) , which will be paid on August 27, 2010 to all shareholders of record on August 20, 2010.
Teekay Tankers’ policy is to pay a variable quarterly dividend equal to its Cash Available for Distribution, subject
to any reserves its board of directors may from time to time determine are required. Since the Company’s initial
public offering in December 2007, it has declared a dividend in 11 consecutive quarters, which now totals $5.615
per share on a cumulative basis (including the $0.34 per share dividend to be paid on August 27, 2010).
Summary of Recent Accretive Transactions
In July 2010, Teekay Tankers loaned for three years a total of $115 million to another shipping company, with the
loans secured by first-priority ship mortgages on two Very Large Crude Carrier ( VLCC ) newbuildings. The term
loans earn an annual interest rate of 9.0 percent and include a repayment premium feature which provides Teekay
Tankers with a total yield of approximately 10 percent per annum. Teekay Tankers financed the loans using a
portion of its undrawn revolving credit facility, which bears interest at a rate of LIBOR plus 0.60 percent.
Subsequent to making these loans, the Company entered into interest rate swap agreements with a weighted-
average maturity of 2.4 years and a weighted-average interest rate of approximately 1 percent (or approximately
1.6 percent including the margin on the underlying loans). Based on its current capitalization, Teekay Tankers
expects these loans to increase its