PRECISION DRILLING Corp

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS

Certain statements contained in this news release, 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 relating to matters that are not historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking information and statements").

In particular, forward-looking information and statements include, but are not limited to, the following:

• our 2026 strategic priorities;

• our capital expenditures, free cash flow allocation and debt reduction plans for 2026 and beyond;

• anticipated activity levels, demand for our drilling rigs, day rates and daily operating margins in 2026;

• the average number of term contracts in place for 2026;

• customer adoption of Alpha™ technologies and EverGreen™ suite of environmental solutions; and

• potential commercial opportunities and rig contract renewals.

These forward-looking information and statements are based on certain assumptions and analysis made by Precision in light of our experience and our perception of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances. These include, among other things:

• our ability to react to customer spending plans as a result of changes in oil and natural gas prices;

• the status of current negotiations with our customers and vendors;

• customer focus on safety performance;

• existing term contracts are neither renewed nor terminated prematurely;

• continued market demand for our drilling rigs;

• our ability to deliver rigs to customers on a timely basis;

• the impact of an increase/decrease in capital spending; and

• the general stability of the economic and political environments in the jurisdictions where we operate in.

Undue reliance should not be placed on forward-looking information and statements. Whether actual results, performance or achievements will conform to our expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from our expectations. Such risks and uncertainties include, but are not limited to:

• volatility in the price and demand for oil and natural gas;

• fluctuations in the level of oil and natural gas exploration and development activities;

• fluctuations in the demand for contract drilling, well servicing and ancillary oilfield services;

• our customers’ inability to obtain adequate credit or financing to support their drilling and production activity;

• changes in drilling and well servicing technology, which could reduce demand for certain rigs or put us at a competitive advantage;

• shortages, delays and interruptions in the delivery of equipment supplies and other key inputs;

• liquidity of the capital markets to fund customer drilling programs;

• availability of cash flow, debt and equity sources to fund our capital and operating requirements, as needed;

• the physical, regulatory and transition impacts of climate change;

• the impact of weather and seasonal conditions on operations and facilities;

• the impact of tariffs and trade disputes;

• competitive operating risks inherent in contract drilling, well servicing and ancillary oilfield services;

• ability to improve our rig technology to improve drilling efficiency;

• general economic, market or business conditions;

• the availability of qualified personnel and management;

• a decline in our safety performance which could result in lower demand for our services;

• the impact of inflation and supply chain disruptions;

• business interruptions related to cybersecurity risks;

• changes in laws or regulations, including changes in environmental laws and regulations such as increased regulation of hydraulic fracturing or restrictions on the burning of fossil fuels and greenhouse gas emissions, which could have an adverse impact on the demand for oil and natural gas;

• terrorism, acts of war, social, civil and political unrest in the foreign jurisdictions or regions where we operate;

• fluctuations in foreign exchange, interest rates and tax rates; and

• other unforeseen conditions which could impact the use of services supplied by Precision and Precision’s ability to respond to such conditions.

Readers are cautioned that the forgoing list of risk factors is not exhaustive. Additional information on these and other factors that could affect our business, operations or financial results are included in reports on file with applicable securities regulatory authorities, including but not limited to Precision’s Annual Information Form for the year ended December 31, 2025, which may be accessed on Precision’s SEDAR+ profile at www.sedarplus.ca or under Precision’s EDGAR profile at www.sec.gov. The forward-looking information and statements contained in this news release are made as of the date hereof and Precision undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, except as required by law.