PRECISION DRILLING Business Summary

Precision Drilling Corp (PDS) operates a high-performance onshore contract drilling model, generating revenue primarily through day-rate contracts for its advanced rig fleet and service fees for well completion and production. The company is organized into two primary segments: Contract Drilling Services, which deploys its proprietary "Super Series" rigs across Canada, the U.S., and the Middle East, and Completion and Production Services, which provides well-servicing rigs, equipment rentals, and workforce accommodations. Precision differentiates itself through its Alpha™ digital automation portfolio and EverGreen™ environmental solutions, targeting high-efficiency operations in complex unconventional plays. Its primary direct competitors include Helmerich & Payne, Patterson-UTI Energy, and Nabors Industries; Precision maintains a dominant market position as the largest drilling contractor in Canada and a leading high-specification rig provider in the U.S. Lower 48. Founded in 1951, the company is currently led by a seasoned executive team following a major leadership transition in late 2025. President and CEO Carey Ford, a Chartered Financial Analyst who previously served as CFO and held roles at Simmons & Company International, oversees the firm's strategic deleveraging and capital allocation. He is supported by CFO Dustin Honing, an internal veteran with over 15 years of experience in operations finance, and COO Gene Stahl, who brings nearly three decades of operational expertise to the role. Chief Technology Officer Shuja Goraya, formerly of Schlumberger, leads the company’s digital transformation initiatives. The company is governed by a majority-independent board chaired by Steven W. Krablin and maintains significant institutional backing from major investors including FIL Ltd, Goldman Sachs, and the National Bank of Canada.