TEEKAY TANKERS LTD.

All equity-based awards granted in 2025 were made under our 2023 Long-Term Incentive Plan (or the 2023 Plan), which was adopted in March 2023 in conjunction with the suspension of our 2007 Long-Term Incentive Plan (or the Prior Plan). We authorized the issuance of up to 600,000 additional Class A common shares pursuant to the 2023 Plan, in addition to up to an aggregate maximum of 1,291,416 shares that were previously reserved for issuance under the Prior Plan and either available or subject to outstanding awards (to the extent such awards terminate without the issuance of vested and non-forfeitable shares).

During 2025, we granted (i) no stock options to acquire Class A common shares and (ii) 94,878 restricted stock unitsto officers and employees of the Company. Each restricted stock unit is equal in value to one Class A common share plus reinvested dividends, if any, from the grant date to the vesting date. Upon vesting, the value of the restricted stock unit awards is paid to each recipient in the form of Class A common shares. We intend to satisfy these grants by issuing shares from authorized capital. Please read "Item 18 – Financial Statements: Note 13 – Share Capital".