Teekay Tankers Announces Special Meeting of Shareholders to be Held on November 17, 2017

HAMILTON, Bermuda, Oct. 26, 2017 -- NOTICE IS HEREBY given that the special meeting of shareholders of Teekay Tankers Ltd., a Marshall Islands corporation (NYSE:TNK) (the Company or Teekay Tankers), will be held on November 17, 2017 at 12:00 p.m. (Pacific Standard Time) in the Victoria Room, Semiahmoo Resort, 9565 Semiahmoo Pkwy, Blaine, WA 98230, USA for the following purposes related to the previously announced merger agreement with Tanker Investments Ltd., all of which are more completely set forth in the joint proxy statement and prospectus:

1) To consider and vote upon a proposal to approve an amendment to the Amended and Restated Articles of Incorporation of Teekay Tankers to increase the number of authorized shares of Class A Common Stock from 200,000,000 to 285,000,000, with a corresponding increase in the number of authorized shares of capital stock from 400,000,000 to 485,000,000 (the Charter Amendment Proposal);

2) To consider and vote upon a proposal to approve the adjournment of the Teekay Tankers Special Meeting, if necessary, to solicit additional proxies if there are not sufficient votes to approve the Charter Amendment Proposal; and

3) To transact any other business that may properly come before the Teekay Tankers Special Meeting, or any adjournment or postponement of the Teekay Tankers Special Meeting.

See below for a link to the Teekay Tankers Special Meeting’s joint proxy statement and prospectus:

http://teekay.com/wp-content/uploads/2017/04/TIL_TNK_Joint-Proxy-Statement-and-Prospectus.pdf

About Teekay Tankers

Teekay Tankers currently owns a fleet of 38 double-hull tankers, including 20 Suezmax tankers, 11 Aframax tankers, and seven Long Range 2 (LR2) product tankers, and has one contracted time charter-in vessels.  Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. The Company 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 and which Teekay Tankers has agreed to acquire the remaining ownership interest. 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.”

For Investor Relations
enquiries contact:

Ryan Hamilton
Tel:  +1 (604) 609-2963
Website: www.teekaytankers.com