Precision Drilling (PDS) Investor Presentation summary

Market position and operational highlights

• Holds leading market share in Canadian land drilling and well services, with 98 drilling rigs and 153 well service rigs.

• Operates 104 rigs in the US, including 66 Super Spec rigs, and maintains 8 contracted rigs in Kuwait and Saudi Arabia.

• Technology leadership with advanced rigs featuring Alpha Automation, EverGreen environmental solutions, and robotics.

• Canadian Super Triple and Super Single rigs are nearly fully utilized, supporting strong margins.

• Well positioned in all major US basins, especially Haynesville, with a broad Super Series rig fleet.

Financial performance and free cash flow

• 2025 free cash flow yield potential estimated at ~25%, with $226M in free cash flow and $937M equity market cap.

• Free cash flow driven by high utilization in Canada, stable international activity, and disciplined cost control.

• Canadian and US day rates have increased 47% and 36% respectively over the last three years.

• Sustained free cash flow potential supported by higher day rates, lower debt, and stable capex.

Strategic priorities and shareholder returns

• 2025 priorities: maximize free cash flow, enhance shareholder returns, and grow revenue in existing service lines.

• Plans to reduce debt by at least $100M in 2025 and allocate 35–45% of free cash flow to share repurchases.

• Increased long-term debt reduction target to $700M from 2022–2027, with $452M repaid as of March 2025.

• Share count reduced by 7% over the last four quarters, exceeding shares issued for recent acquisitions.