Tanker Investments : Merger of Tanker Investments Ltd. and Teekay Tankers Ltd. Completed

NEWS RELEASE

Tanker Investments Ltd.

Fourth Floor, Belvedere Building

69 Pitts Bay Road Hamilton, HM 08 Bermuda tel: [phone]

MERGER OF TANKER INVESTMENTS LTD. AND

TEEKAY TANKERS LTD. COMPLETED Hamilton, Bermuda, November 27, 2017 - Reference is made to the press release published by Tanker Investments Ltd. ("TIL") on November 22, 2017. The merger of Royal 2017 Ltd., a wholly-owned subsidiary of Teekay Tankers Ltd. ("TNK"), with and into TIL, with TIL continuing as the surviving company and a wholly-owned subsidiary of TNK (the "Merger"), has now been registered with the Registrar of Corporations of the Republic of The Marshall Islands, and is thereby completed.

As previously announced, shareholders of TIL (other than TNK and its subsidiaries) as of November 23, 2017 (the "Cut-off Date") as they will appear in TIL's shareholders register with the VPS as of the expiry of today, November 27, 2017 (the "Record Date"), will receive the merger consideration for each TIL share they own as recorded with the VPS on the Record Date.

***

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Tanker Investments Ltd.

Tanker Investments Ltd. is a specialized investment company focused on the tanker market. Tanker Investments Ltd. was formed in January 2014 to opportunistically operate and sell modern secondhand tankers to benefit from cyclical fluctuations in the tanker market. Tanker Investments' fleet consists of 18 vessels.

For Investor Relations enquiries contact:

Scott Gayton

Tel: [phone]

www.tankerinvestments.com

1

- more -