13D Filing: Huber Capital Management and Teekay Tankers Ltd (TNK)

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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

On behalf of its clients, HCM holds 14,563,834 shares of the
Issuer’s Class A Shares, equivalent to 10.2% of shares outstanding based on 142.2 million Class A Shares issued and outstanding
as reported in the Issuer’s Form 6-K for the quarterly period ended March 31, 2017 filed on June 13, 2017.

A.          HCM

a. HCM beneficially owns, on behalf of its clients, 14,563,834 shares of the Issuer’s Class A Shares, which represents 10.2%
of the outstanding Class A Shares of the Issuer, based on 142.2 million Class A Shares issued and outstanding as reported in the
Issuer’s Form 6-K for the quarterly period ended March 31, 2017 filed on June 13, 2017.
b. HCM has sole power to dispose, on behalf of its clients, of 14,563,834 Class A Shares. HCM also has sole power to vote, on
behalf of its clients, 8,750,584 Class A Shares. The power to vote the remaining shares rests with the HCM client or clients for
whom such shares were acquired.
c. HCM has purchased or sold, on behalf of its clients, the following Class A Shares within the past 60 days:
Transaction Date Shares/Units Purchased (Sold) Price per Share/Unit (average price)
5/22/2017 (34,300) $2.1140
5/23/2017 (1,900) $2.0800
6/6/2017 81,000 $1.8145
6/7/2017 30,000 $1.8050
6/7/2017 6,000 $1.7648
6/7/2017 101,000 $1.7848
6/7/2017 23,600 $1.7547
6/8/2017 60,783 $1.8057
6/9/2017 210,000 $1.8655
6/12/2017 339,800 $1.8597
6/13/2017 413,100 $1.8665
6/13/2017 105,326 $1.8700
6/13/2017 268,400 $1.8675
d. Please see (a) above.
e. Not applicable.

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