Akita Drilling Ltd. Class A · TSX:AKT
Akita Drilling Ltd. Class A — Shareholder Meeting (May 2026)
17 slides from Akita Drilling Ltd. Class A's shareholder meeting presentation, May 12, 2026
Slide 1: Annual General Meeting
Annual General Meeting We l c o m e S h a re ow n e r s M a y 1 2 th, 2 0 2 6
Slide 2: Forward Looking Statements Disclaimer
Forward Looking Statements Disclaimer Statements made by representatives of AKITA and information provided in AKITA’s AGM presentation may be considered forward- looking statements. By their nature, such statements are subject to numerous known and unknown risks and uncertainties and therefore actua
Slide 3: Chairman's Introduction
Chairman’s Introduction By Linda Southern-Heathcott
Slide 4: Election of Directors
Election of Directors Eight directors, as set out in the March 17, 2026, Management Information Circular, have been nominated for a one-year term. Upon election, each director will hold office until the next annual meeting of shareholders or until a successor is elected or appointed. The Board recom
Slide 5: Appointment of Auditor
Appointment of Auditor The Board, on the recommendation of the Audit Committee, proposes that PricewaterhouseCoopers LLP (“PwC”) be appointed as auditor to hold office until the next annual meeting of shareholders. PwC and its predecessor firm, Price Waterhouse LLP, has been AKITA’s auditor since th
Slide 6: President and CEO Message by Colin Dease
President and CEO Message by Colin Dease
Slide 7: 2025 Results
2025 Results • $15m in further debt reduction • Introduction of NCIB (share buyback program) in August • Strong first quarter activity for both US and Canadian Divisions which weakened over year, with Canadian Division recovering by Q4
Slide 8: 2026 Changing Sentiment
2026 CHANGING SENTIMENT • Glut in crude supply was Q1 narrative until Iran War disrupted supply • Living the largest supply disruption in oil market history • Despite a flat US rig count over 2026, AKITA’s US Division utilization increased
Slide 9: Vice President Finance & CFO Financial Overview
Vice President Finance & CFO Financial Overview by Darcy Reynolds
Slide 10: 2025 Results
2025 Results For the year ended December 31 2025 2024 Net Income (Loss) $13,917,000 $12,863,000 Funds Flow From Operations $46,601,000 $44,714,000 Capital Spending $31,609,000 $28,043,000 Debt $34,724,000 $49,583,000 Operating Days 5,691 5,744 Net Income 12,000 Revenue 10,000 70,000 2,000 1,800 60,0
Slide 11: Q1 2026 Results
Q1 2026 Results For the three months ended March 31, 2026 2025 Net Income (Loss) $(2,450,000) $8,632,000 Funds Flow From Operations $7,957,000 $17,029,000 Capital Spending $3,765,000 $7,008,000 Total Debt $34,774,000 $51,467,000 Operating Days 1,377 1,847 Canada United States 44,000 16,000 41,000 16
Slide 12: Fox Drilling Inc. Acquisition
Fox Drilling Inc. Acquisition THE ECONOMICS • The acquisition was valued on a DCF basis • Share price at announcement equal to Book value of Fox assets • Forecasted to be accretive to shareholders throughout the cycle • Enhanced liquidity with larger share float THE SHARE RESTRUCTURING • A single cl
Slide 13: Fox Drilling Inc. Acquisition
Fox Drilling Inc. Acquisition THE TRANSACTION • 19,264,270 Common Shares • Paramount shareholders are expected to collectively hold approximately 33% of AKITA's outstanding Common Shares. These shares to be distributed pro rata among paramount shareholders SPECIAL MEETING – JUNE 29 At the special me
Slide 14: Fox Drilling Inc. Acquisition
Fox Drilling Inc. Acquisition • Fox Fleet of six rigs includes five AC 1500 hp triples • Acquisition adds stable cash flow through utilization commitment
Slide 15: 2026 Objectives
2026 OBJECTIVES • Successful Integration of Fox Drilling • Maintain industry leading US utilization • Leverage strong relations with blue-chip Canadian operators to secure long-term programs with continuity through spring break-up
Slide 16: First Nation and Métis Joint Venture Partners
First Nation and Métis Joint Venture Partners
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