Civeo Corp

In addition to information set forth in this Quarterly Report on Form 10-Q, including “Management’s Discussion and Analysis of Financial Condition and Results of Operations", you should carefully read and consider “Risk Factors” and “Management's Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2024 and "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which contain descriptions of significant factors that may cause our future operating results to differ materially from those currently expected.

The following table provides information about purchases of our common shares during the three months ended June 30, 2025.

(1)In March 2025, our Board authorized the repurchase of up to 10% of our total common shares which were issued and outstanding, or approximately 1.4 million common shares (the Share Repurchase Program). We repurchased an aggregate of 88,169 of our common shares outstanding for approximately $2.0 million under the Share Repurchase Program during the three months ended June 30, 2025.

(2)In April 2025, our Board authorized a further increase to repurchase up to 20% of our total common shares which are issued and outstanding at that date, or approximately 2.7 million common shares (the 2025 Share Repurchase Program). Under the 2025 Share Repurchase Program, we may repurchase shares through a variety of methods, including but not limited to open market repurchases, pursuant to a Rule 10b5‑1 compliant plan, or privately negotiated transactions. The 2025 Share Repurchase Program does not expire. We repurchased an aggregate of 795,164 of our common shares outstanding for approximately $17.1 million under the 2025 Share Repurchase Program during the three months ended June 30, 2025.