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, 2025, which contains 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 March 31, 2026.

(1)In April 2025, our Board authorized the repurchase of 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. We repurchased an aggregate of 511,000 of our common shares outstanding for approximately $14.4 million under the 2025 Share Repurchase Program during the three months ended March 31, 2026. In March 2026, our Board authorized an additional repurchase authorization of up to 10.0% of our common shares outstanding upon completion of the 2025 Share Repurchase Program. The 2025 Share Repurchase Program (including the additional authorization in March 2026) does not expire.

(2)Includes 12,189 shares surrendered to us by participants in our 2014 Equity Participation Plan to settle the participants' personal tax liabilities that resulted from the lapsing of restrictions on shares awarded to the participants under the plan.

(3)$27.67 per share was the closing price of our common shares on February 23, 2026, the respective date as of which the restrictions lapsed on such shares.