Precision Drilling Corporation · TSX:PD

Precision Drilling — Q3 2025 Earnings Presentation

23 slides from Precision Drilling's earnings presentation, Oct 23, 2025

  1. Slide 1: Precision Drilling Corporation - Investor Presentation

    PRECISION DRILLING CORPORATION October 2025 - Investor Presentation

  2. Slide 2: Forward-Looking Statement

    FORWARD-LOOKING STATEMENT Certain statements contained in this report, including statements that contain words such as "could", "should", "can", "anticipate", "estimate", "intend", "plan", "expect", "believe", "will", "may", "continue", "project", "potential" and similar expressions and statements r

  3. Slide 3: Precision Highlights

    PRECISION HIGHLIGHTS Global Oilfield Service Company #1 Land Driller In Canada, A Top U.S. Land Driller, 64 100 Highly Desirable Rigs Super Triple Alpha Rigs Active In Kuwait & Saudi #1 Well Service Provider In Arabia, 8 Rigs Contracted Canada, 152 Rigs Technology Leader - Most Advanced Rig In North

  4. Slide 4: 2025 Strategic Priorities & Results

    1. Maximize Free Cash Flow 2025 STRATEGIC  Disciplined capital deployment  Strict cost management  Procurement synergies  Reduced fixed cost structure PRIORITIES & RESULTS  On track to realize approximately $10M in fixed cost reductions 2. Grow Revenue In Existing Service Lines  Options includ

  5. Slide 5: Robust 2025 Free Cash Flow Yield Potential

    ROBUST 2025 FREE CASH FLOW YIELD POTENTIAL 2025 Free Cash Flow Drivers 17% #1 Land Driller In Growing Canadian Market U.S. Operations Levered To Long-term Gas Growth FREE CASH FLOW YIELD POTENTIAL Analyst Estimates for $169M Consistent International High-quality, Recurring 2025 Free Cash Flow1 Opera

  6. Slide 6: Sustained Free Cash Flow Potential

    SUSTAINED FREE CASH FLOW POTENTIAL Driven By Higher Day Rates, Lower Debt Levels, And Stable Capex $300 FREE CASH FLOW1 FCF C$ MILLIONS $200 pre-COVID $100 $0 2019 2020 2021 2022 2023 2024 2025E CANADIAN DAY RATES U.S. DAY RATES Steady growth over $30,000/day Stable at >US$30,000/day $40,000 $40,000

  7. Slide 7: Enhancing Shareholder Returns - Debt Reduction

    ENHANCING SHAREHOLER DEBT REDUCTION PROGRESS1 RETURNS – DEBT REDUCTION ~1.4x LONG-TERM DEBT US$ $1.4 Approaching 1.0x BILLIONS $0.9 $0.4 YTD $101M Debt Repaid DEBT MATURITY PROFILE2 To Repay $700M from 2022-2027 & Achieve Combined average cost of debt is 6.6% $500 Net Debt To Adj EBITDA Below 1.0x L

  8. Slide 8: Enhancing Shareholder Returns - Share Buybacks

    ENHANCING SHAREHOLER RETURNS – SHARE BUYBACKS SHARE BUYBACK PROGRESS 15.0 PRECISION DRILLING OUTSTANDING SHARES (MILLIONS) Reduced Share Count 9% Since Q1 2024 9% decrease 14.0 YTD Repurchased $54M of Shares 13.0 On Track To Allocate 35%-45% FCF 12.0 Moving Direct Shareholder Returns Q1/24 Q2/24 Q3/

  9. Slide 9: Growing Revenue From Existing Service Lines

    GROWING REVENUE FROM SUPER TRIPLE RIG FEATURES 01 Up to 39,000 ft 5.5” Racking Capacity EXISTING SERVICE LINES 02 AlphaAutomation , AlphaApps & AlphaAnalytics 06 03 Drilling Equipment Control System Upgrading 27 PD Super Series Rigs in 2025 04 High Speed Downhole Data 05 Omni-Directional Pad Walking

  10. Slide 10: #1 Land Driller in Growing Canadian Market

    #1 LAND DRILLER IN GROWING CANADIAN MARKET Leveraged to High-Inventory Developments  Most active driller in Canada, 34% market share1  Our Super Triple & Single rigs in high demand World-Class Oil and Natural Gas Plays Montney  Oil and world-class natural gas play  Most remaining oil inventory l

  11. Slide 11: Tight Super Spec Rig Market Supporting Strong Margins

    TIGHT SUPER SPEC RIG MARKET SUPPORTING STRONG MARGINS Highly Desirable PD Super Series Rigs Current Q3/25 Canadian Play Preferred Rig Fleet Utilization1 Montney/LNG PD Super Triple 32 85% Oil Sands/Clearwater PD Super Single 48 70% Other Plays Tele Double 20 20% Total Canada 100 ~65% CANADIAN DAYRAT

  12. Slide 12: Competitive Advantage of PD Super Series Rigs

    COMPETITIVE ADVANTAGE OF PD SUPER SERIES RIGS High Performance, High Value Service Offering Aligned With Customer Needs Super Triple Super Single (2000, 1500 & 1200 HP) Preferred Rig for Montney/LNG Preferred Rig for Canadian & U.S. Drilling Heavy Oil Drilling  Digitally controlled, modern  Specif

  13. Slide 13: US Operations Levered to Long-Term Gas Growth

    US OPERATIONS LEVERED TO LONG-TERM GAS GROWTH PRECISION’S ACTIVE U.S. BASINS U.S. Natural Gas Activity Improving  PD Q3/25 rig count increased while industry activity declined  Capitalized on opportunities in natural gas basins  Natural gas rig count up ~20% since beginning of year1  Activity dr

  14. Slide 14: Consistent International Operations

    CONSISTENT INTERNATIONAL OPERATIONS PRECISION INTERNATIONAL ACTIVITY Established & Stable Operations  Successful International operator for over a decade  R904 rated Top Performing Deep-Well Drilling Rig in Kuwait  8 rigs contracted, 5 Kuwait and 3 Saudi Arabia (1 suspended)  Majority on 5-year

  15. Slide 15: High-Quality Completion & Production Cash Flow

    HIGH-QUALITY COMPLETION & PRECISION WELL SERVICE PRODUCTION CASH FLOW CANADIAN LOCATIONS Premier Well Service Provider In Canada  Consolidated the business with two acquisitions1  Size and scale providing increased opportunities Strong FCF With Min Capex Requirements  Longer-life assets with a st

  16. Slide 16: Margin Enhancement via Value-Add Technology

    MARGIN ENHANCEMENT VIA VALUE-ADD TECHNOLOGY  Premier platform for process control automation,  Extensive suite of environmental solutions, aimed at drilling optimization, and analytics diesel displacement, emissions reduction, and safety  Eliminates human variance in operations, delivering  Driv

  17. Slide 17: Creating Shareholder Value

    CREATING SHAREHOLDER VALUE Delivering High Generating Significant Free Performance, High Value Cash Flow Services Strict Cost Management Disciplined Investments In & Capital Discipline Our People & Equipment Higher Equity Valuation Through Strong FCF Yield, Deleveraging & Share Repurchases INVESTOR

  18. Slide 18: September Precision Market Update

    18 SEPTEMBER PRECISION MARKET UPDATE Firm Commitment To Debt Precision Drilling Activity Tight Super Spec Rig PD’s Super Series Rigs Reduction & Share Update Market Supporting Strong Provide Competitive Buyback Targets Margins Advantage  Reduced debt by $101M as of  Demand for Super Triple and  I

  19. Slide 19: Appendix

    APPENDIX Precision Drilling Corporation

  20. Slide 20: 2024 Strategic Priorities & Results

    2024 STRATEGIC 1. Focus On Generating Free Cash Flow  Leverage our scale across drilling and well service operations  Canadian & International drilling activity up year over year PRIORITIES & RESULTS  Well servicing utilization days up 26% year over year  Achieved $20M annual synergies from CWC

  21. Slide 21: Historical Industry Drilling Activity

    HISTORICAL INDUSTRY DRILLING ACTIVITY U.S. LAND RIG COUNT 10 YEAR HISTORY CANADIAN LAND RIG COUNT 5 YEAR HISTORY 2,000 2021 300 Pad drilling 921 driving more 2022 1,800 2015 Avg 30% decline activity Active Rigs Jan 1/23 to during spring 2023 Sep 30/24 250 break up 185 1,600 176 2024 Avg 2024 2023 Av

  22. Slide 22: Positioned to Benefit From Strong Canadian Fundamentals

    POSITIONED TO BENEFIT FROM STRONG CANADIAN FUNDAMENTALS Montney – one of the most Oil Sands1 – potential annual economic and active plays in growth of ~67,000 bbls/d from North America supporting 2024 to 2028, driving ~20,000 condensate supply for oil sands bbls/d of annual incremental production an

  23. Slide 23: Focused on ESG Leadership

    FOCUSED ON ESG LEADERSHIP 2024 ESG Performance Data  Visit our website at www.precisiondrilling.com/esg  Guided by SASB, TCFD, and UNSDG disclosure standards 2024 ESG Highlights  Disclosed GHG emissions data for both drilling and well service activities  Expanded EverGreen environmental solution

Precision Drilling — Q3 2025 Earnings Presentation on 6ix