Teekay Offshore Partners Declares Distributions on Series A, B And E Preferred Units

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), has declared the following distributions:

Units	Distribution Period	Amount	Record Date	Payment Date
Series A Preferred Units	August 15, 2018 to November 14, 2018	$0.4531 per unit	November 8, 2018	November 15, 2018
Series B Preferred Units	August 15, 2018 to November 14, 2018	$0.5313 per unit	November 8, 2018	November 15, 2018
Series E Preferred Units	August 15, 2018 to November 14, 2018	$0.5547 per unit	November 8, 2018	November 15, 2018

About Teekay Offshore

Teekay Offshore Partners L.P. is a leading international midstream services provider to the offshore oil production industry, focused on the ownership and operation of critical infrastructure assets 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 with assets under management of approximately $5.9 billion, comprised of 63 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units, long distance towing and offshore installation vessels, a floating accommodation unit (FAU), and conventional tankers. The majority of Teekay Offshore’s fleet is employed on medium-term, stable contracts.

Teekay Offshore's common units and preferred units trade on the New York Stock Exchange under the symbols "TOO", "TOO PR A", "TOO PR B" and “TOO PR E”, respectively.

For Investor Relationsenquiries contact:

Ryan HamiltonTel:  [phone]Website: www.teekay.com