Teekay Tankers delivered a strong third quarter in 2025, reporting a GAAP net income of $92.1 million and generating $69 million in free cash flow, driven by robust spot rates and strategic fleet renewal.

• GAAP net income reached $92.1 million ($2.66 per share) and adjusted net income was $53.3 million ($1.54 per share) for the quarter.
• Spot rates significantly outperformed historical averages, contributing to free cash flow generation of approximately $69 million.
• The company completed a fleet renewal initiative, acquiring one modern Suezmax and a 50% interest in a VLCC, while divesting four Suezmax tankers for total gross proceeds of $158.5 million.
• Declared regular fixed dividend of $0.25 per share amidst strong performance and a cash position of $775 million with no debt.
• Sustained strength in global oil production and a favorable spot market position are expected to sustain demand into the winter months.