Teekay Offshore Partners L.P. Declares Distribution
on Series A Preferred Units

Hamilton, Bermuda - 29 July 2013

Teekay Offshore GP LLC, the general partner of Teekay Offshore Partners L.P. (Teekay Offshore or the Partnership) (NYSE:TOO), has declared a cash distribution of $0.5286 per unit on its Series A preferred units (NYSE:TOO.PR.A) for the period from April 30, 2013 to August 15, 2013. The cash distribution is payable on August 15, 2013 to all unitholders of record on August 8, 2013.

About Teekay Offshore Partners L.P.
Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production and storage services to the offshore oil industry focusing on the fast-growing, deepwater offshore oil regions of the North Sea and Brazil. Teekay Offshore is structured as a publicly-traded master limited partnership (MLP) and owns interests in 35 shuttle tankers (including four chartered-in vessels and two committed newbuildings), five floating production, storage and offloading (FPSO) units, seven floating storage and offtake (FSO) units (including two committed FSO conversion units) and five conventional oil tankers. The majority of Teekay Offshore's fleet is employed on long-term, stable contracts. In addition, Teekay Offshore also has rights to participate in certain other FPSO and shuttle tanker opportunities provided by Teekay Corporation (NYSE:TK) and Sevan Marine ASA (Oslo Bors:SEVAN).

Teekay Offshore Partners' common units trade on the New York Stock Exchange under the symbol "TOO".

Teekay Offshore Partners L.P. press release