Business: Seapeak LLC formerly Teekay LNG Partners L.P., 8.50% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units, liquidation preference $25 per unit, redeemable at the issuer's option on or after 10/15/2027 at $25 per unit plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 8.50% per annum ($2.125 per annum or $0.53125 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be the last business day of the month immediately preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From and including 10/15/2027, the distribution rate per annum will be a floating rate equal to three-month LIBOR plus a spread of 6.241%. As of 1/1/2019 dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders due the the company's conversion to a corporation. Holders of the Preferred Units will receive specific tax information from the company, including a Schedule K-1 which generally would be expected to provide a single income item equal to the preferred return (see page S-96 of the prospectus for details). This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred units rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common units of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.