Above board.


Governance

We are committed to good corporate governance in order to maintain the trust of our investors, and although Seapeak LLC is a foreign private issuer, the Company has voluntarily chosen to materially comply with the New York Stock Exchange (NYSE) domestic corporate governance listing standards.

Guidelines
Charters

Tax and Financial Information

Effective February 25, 2022, Teekay LNG Partner L.P. a limited partnership formed under the laws of the Republic of the Marshall Islands converted into a limited liability company formed under the laws of the Republic of Marshall Islands and changed its name to Seapeak LLC. The new name Seapeak LLC is used for any periods post February 25, 2022.

The following information is applicable for taxation year ended Dec 31, 2021 only. As such, the legal name of Teekay LNG Partners L.P and references to the Partnership has been retained in the tax information below.

Effective January 1, 2019, Teekay LNG Partners L.P. has elected to be treated as a C-Corporation for tax purposes (our investors receive the standard 1099 form and not a K-1 form).

Distributions we pay to U.S. unitholders will be treated as a dividend for U.S. federal income tax purposes to the extent the distributions come from earnings and profits (E&P) and as a non-dividend distribution or a return of capital (ROC) to the extent the distributions exceed E&P.

Distributions we pay to a non-U.S. unitholder will not be subject to U.S. federal income tax or withholding tax if the non-U.S. unitholder is not engaged in a U.S. trade or business.

For more detailed tax commentary, please refer to the most recent 20-F.

The chart below describes the total distributions made by Teekay LNG Partners L.P. in 2021 and the reporting of such distributions on United States Internal Revenue Service (IRS) Form 1099.

Please note that the determination of whether these distributions constitute a dividend from E&P or a ROC is not made for U.S. federal income tax purposes until the end of the fiscal year. If you are a U.S. unitholder and you received an IRS Form 1099 that does not set forth such amounts, you should contact your broker or tax advisor.

Holders are directed to consult their own tax advisors to determine the appropriate tax treatment with respect to the distributions.

Common Units

Record DateTotal DistributionAmount Reported as a Qualified Dividend in Item 1 (b) of Form 1099% Reported as a Qualified Dividend in Item 1 (b) of Form 1099Amount Reported as a Nondividend distribution in Item 3 of Form 1099% Reported as a Nondividend Distribution in Item 3 of Form 1099
02/02/2021$21,737,809$00.0%$21,737,809100.0%
05/05/2021$25,002,300$00.0%$25,002,300100.0%
08/05/2021$25,008,142$00.0%$25,008,142100.0%
11/05/2021$25,015,496$00.0%$25,015,496100.0%

Series A Preferred Units

Record DateTotal DistributionAmount Reported as a Qualified Dividend in Item 1 (b) of Form 1099% Reported as a Qualified Dividend in Item 1 (b) of Form 1099Amount Reported as a Nondividend distribution in Item 3 of Form 1099% Reported as a Nondividend Distribution in Item 3 of Form 1099
12/31/2020$2,812,500$1,955,21469.52%$857,28630.48%
03/31/2021$2,812,500$2,182,75877.61%$629,74222.39%
06/30/2021$2,812,500$2,183,15877.62%$629,34222.38%
09/30/2021$2,812,500$2,183,66177.64%$628,83922.36%

Series B Preferred Units

Record DateTotal DistributionAmount Reported as a Qualified Dividend in Item 1 (b) of Form 1099% Reported as a Qualified Dividend in Item 1 (b) of Form 1099Amount Reported as a Nondividend distribution in Item 3 of Form 1099% Reported as a Nondividend Distribution in Item 3 of Form 1099
12/31/2020$3,612,840$2,511,60169.52%$1,101,23930.48%
03/29/2021$3,612,840$2,803,89577.61%$808,94522.39%
06/28/2021$3,612,840$2,804,40977.62%$808,43122.38%
09/30/2021$3,612,840$2,805,05677.64%$807,78422.36%

IRC §6045B Reporting

Attachment Form 8937 – 2021

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG) (NYSE: TGP), declared cash distributions to the common unitholders of record for the quarters ended December 31, 2020, March 31, 2021, June 30, 2021 and September 30, 2021 as follows:

Date Declared:

Date of Record:

Amount per Unit:

Date Paid:

January 20, 2021

February 2, 2021

$0.2500

February 12, 2021

April 15, 2021

May 5, 2021

$0.2875

May 14, 2021

July 16, 2021

August 5, 2021

$0.2875

August 13, 2021

October 15, 2021

November 5, 2021

$0.2875

November 12, 2021

Teekay GP LLC, the general partner of Teekay LNG, declared cash distributions to the Series A preferred unitholders of record for the quarters ended December 31, 2020, March 31, 2021, June 30, 2021 and September 30, 2021 as follows:

Date Declared:

Date of Record:

Amount per Unit:

Date Paid:

December 18, 2020

December 31, 2020

$0.5625

January 15, 2021

March 18, 2021

March 31, 2021

$0.5625

April 15, 2021

June 18, 2021

June 30, 2021

$0.5625

July 15, 2021

September 17, 2021

September 30, 2021

$0.5625

October 15, 2021

Teekay GP LLC, the general partner of Teekay LNG, declared cash distributions to the Series B preferred unitholders of record for the quarters ended December 31, 2020, March 31, 2021, June 30, 2021 and September 30, 2021 as follows:

Date Declared:

Date of Record:

Amount per Unit:

Date Paid:

December 18, 2020

December 31, 2020

$0.5313

January 15, 2021

March 18, 2021

March 31, 2021

$0.5313

April 15, 2021

June 18, 2021

June 30, 2021

$0.5313

July 15, 2021

September 17, 2021

September 30, 2021

$0.5313

October 15, 2021

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay LNG's estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay LNG distribution in their tax return.

IRC §6045B Reporting

Attachment: Form 8937 – 2020

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG) (NYSE: TGP), declared cash distributions to the common unitholders of record for the quarters ended December 31, 2019, March 31, 2020, June 30, 2020 and September 30, 2020 as follows:

Date Declared:

Date of Record:

Amount per Unit:

Date Paid:

January 20, 2020

January 31, 2020

$0.19

February 14, 2020

April 16, 2020

May 1, 2020

$0.25

May 15, 2020

July 17, 2020

July 31, 2020

$0.25

August 14, 2020

October 19, 2020

November 2, 2020

$0.25

November 13, 2020

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay LNG’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay LNG distribution in their tax return.

IRC §6045B Reporting

Attachment: Form 8937 – 2019

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG) (NYSE: TGP), declared cash distributions to the common unitholders of record for the quarters ended December 31, 2018, March 31, 2019, June 30, 2019, and September 30, 2019 as follows:

Date Declared:

Date of Record:

Amount per Unit:

Date Paid:

January 8, 2019

February 1, 2019

$0.14

February 8, 2019

April 24, 2019

May 7, 2019

$0.19

May 15, 2019

July 19, 2019

August 6, 2019

$0.19

August 14, 2019

October 21, 2019

November 1, 2019

$0.19

November 14, 2019

Pursuant to Internal Revenue Code Section 6045B, the attached Form 8937 summarizes to all unitholders of record the character of these distributions based upon Teekay LNG’s estimated earnings and profits as of the date of distribution.

We encourage holders of record to consult their Tax Advisor for the proper treatment of any Teekay LNG distribution in their tax return.

None of the distributions by the Partnership in 2018 will include any “effectively connected income”. This statement constitutes a “qualified notice” as provided in the Internal Revenue Code and Regulations thereunder.

2018 K-1 Distribution

The 2018 tax package is now available online and was mailed out on March 23, 2019.

Tax information for 2018 is now available online.

Click here to access Teekay LNG Partners LP K-1s online.

None of the distributions by the Partnership in 2017 will include any “effectively connected income”.  This statement constitutes a “qualified notice” as provided in the Internal Revenue Code and Regulations thereunder.

2017 K-1 Distribution

The 2017 tax package is now available online as at March 19, 2018 and has been mailed out.

Tax information for 2017 is now available online.

Click here to access Teekay LNG Partners LP K-1s online.

Teekay LNG Series A Preferred Units – tax treatment of distributions

For tax purposes only, Teekay LNG intends to treat distributions on the Series A Preferred Units as “guaranteed payments for the use of capital”, which generally will be 100% taxable to the holders of Series A Preferred Units as ordinary income. For more detail, please refer to the prospectus supplement dated September 28, 2016 and filed with the US Securities and Exchange Commission on September 30, 2016, including limitations regarding the applicability of this information.  This anticipated treatment may change for circumstances arising after the date of the prospectus supplement.

Teekay LNG Series B Preferred Units – tax treatment of distributions

For tax purposes only, Teekay LNG intends to treat distributions on the Series B Preferred Units as “guaranteed payments for the use of capital”, which generally will be 100% taxable to the holders of Series B Preferred Units as ordinary income. For more detail, please refer to the prospectus supplement dated October 16, 2017 and filed with the US Securities and Exchange Commission on October 17, 2017, including limitations regarding the applicability of this information.  This anticipated treatment may change for circumstances arising after the date of the prospectus supplement.

Access: K-1 tax information for 2016 is now available online.

Click here to access Teekay LNG Partners LP K-1s online.

2016 K-1 Distribution

The 2016 tax package is now available online as at March 16, 2017 and has been mailed out.

Teekay LNG Series A Preferred Units – tax treatment of distributions

For tax purposes only, Teekay LNG intends to treat distributions on the Series A Preferred Units as “guaranteed payments for the use of capital”, which generally will be 100% taxable to the holders of Series A Preferred Units as ordinary income. For more detail, please refer to the prospectus supplement dated September 28, 2016 and filed with the US Securities and Exchange Commission on September 30, 2016, including limitations regarding the applicability of this information.  This anticipated treatment may change for circumstances arising after the date of the prospectus supplement.

Access K-1 tax information for 2015 is now available online.

Click here to access Teekay LNG K-1s online.

2015 K-1 Distribution

The 2015 tax package information is now available and was mailed out on March 21, 2016.

Access K-1 tax information for 2014 is now available online.

Click here to access Teekay LNG K-1s online.

2014 K-1 Distribution

The 2014 tax package information is now available and was mailed out on March 13, 2015.