PRECISION DRILLING Corp

Clawbacks

Our senior leadership team is held accountable for their decisions. As such, we have designed our compensation plan so any consequences stemming from our policies, employment agreements and incentive plans align with Precision’s best interests.

Our Clawback Policy entitles us to recoup some, or all, incentive compensation awarded or paid to our senior leadership team, including our Chief Executive Officer, both past and present, if:

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there was a restatement of our financial statements for a fiscal year or fiscal quarter when they were with Precision

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there was an error in calculating executive compensation during their time with Precision, or

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the member of the senior leadership team engaged in misconduct, including fraud, non-compliance with applicable laws and any act or omission that would entitle an employee to be terminated for cause.

The Clawback Policy applies to all forms of incentive awards including bonuses, restricted share units, performance share units and stock options.

In addition to our Clawback Policy, in 2023 we introduced a NYSE-compliant compensation recoupment policy, which provides that in the event of a financial restatement, we must recoup incentive-based compensation received by executive officers, subject to limited exceptions.