| The following is a list of the Company’s subsidiaries as at December 31, 2025, excluding certain subsidiaries that in aggregate are not significant. | ||
| Name of Subsidiary | State or Jurisdiction of Incorporation | Proportion of Ownership Interest | ||||||
| Athens Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Atlanta Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Barcelona Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Beijing Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Dilong Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Donegal Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Galway Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Jiaolong Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Kanata Spirit II Ltd. | Bermuda | 30.8% | ||||||
| Kareela Spirit II Ltd. | Bermuda | 30.8% | ||||||
| Kiowa Spirit Ltd. | Bermuda | 30.8% | ||||||
| Limerick Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| London Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Los Angeles Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Montreal Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Orchid Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Pinnacle Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Rio Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Rome Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Semakau Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Shenlong Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Singapore Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Summit Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Sydney Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. Holdings Ltd. | Marshall Islands | 30.8% | ||||||
| T.I.L. I L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. II L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. III L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. IV L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. IX L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. V L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. VI L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. VII L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. VIII L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. X L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. XI L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. XII L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. XIII L.L.C. | Marshall Islands | 30.8% | ||||||
| T.I.L. XIV L.L.C. | Marshall Islands | 30.8% | ||||||
| Tanker Investments Ltd. | Marshall Islands | 30.8% | ||||||
| Teekay Business Process Services, Inc. | Philippines | 30.8% | ||||||
| Teekay Chartering Limited | Marshall Islands | 30.8% | ||||||
| Teekay Finance Limited | Bermuda | 100% | ||||||
| Teekay Holdings Australia Pty Ltd. | Australia | 30.8% | ||||||
| Teekay Holdings Limited | Bermuda | 100% | ||||||
| Teekay Marine (Singapore) Pte. Ltd. | Singapore | 30.8% | ||||||
| Teekay Marine Holdings Ltd. | Marshall Islands | 30.8% | ||||||
| Teekay Marine Ltd. | Marshall Islands | 30.8% | ||||||
| Teekay Marine Solutions Inc. | USA | 30.8% | ||||||
| Teekay Services Ltd. | Bermuda | 30.8% | ||||||
| Teekay Shipping (Australia) Pty Ltd. | Australia | 30.8% | ||||||
| Teekay Shipping (Canada) Ltd. | Canada | 30.8% | ||||||
| Teekay Shipping (India) Private Limited | India | 30.8% | ||||||
| Teekay Shipping (Singapore) Pte Ltd | Singapore | 30.8% | ||||||
| Teekay Shipping (UK) Ltd. | United Kingdom | 30.8% | ||||||
| Teekay Shipping (USA), Inc. | USA | 30.8% | ||||||
| Teekay Shipping Philippines, Inc. | Philippines | 7.7% | ||||||
| Teekay Tanker Operations Ltd. | Marshall Islands | 30.8% | ||||||
| Teekay Tankers Chartering Pte. Ltd. | Singapore | 30.8% | ||||||
| Teekay Tankers Holdings Ltd. | Marshall Islands | 30.8% | ||||||
| Teekay Tankers HZ Hull No. H-1586 L.L.C. | Marshall Islands | 30.8% | ||||||
| Teekay Tankers HZ Hull No. H-1587 L.L.C. | Marshall Islands | 30.8% | ||||||
| Teekay Tankers HZ Hull No. H-1592 L.L.C. | Marshall Islands | 30.8% | ||||||
| Teekay Tankers HZ Hull No. H-1593 L.L.C. | Marshall Islands | 30.8% | ||||||
Teekay Tankers Ltd. (1) | Bermuda | 30.8% | ||||||
| Teekay Tankers TS Hull No. S-1415 L.L.C. | Marshall Islands | 30.8% | ||||||
| Tianlong Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Tokyo Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| TPO AS | Norway | 100% | ||||||
| TPO Investments Inc. | Marshall Islands | 100% | ||||||
| Ugland Stena Storage AS | Norway | 100% | ||||||
| Ulsan Spirit L.L.C. | Marshall Islands | 30.8% | ||||||
| Zenith Spirit L.L.C. | Marshall Islands | 30.8% | ||||||