Precision Drilling Announces 2026 Third Quarter Unaudited Financial Statements

19459343 By registering you grant get the above newsletter from Postmedia Network Inc. Short article material 19659013 Financial Highlights Short article material 19659015 Earnings increased 15 %to$ 532 million, compared to$ 462 million in the 3rd quarter of 2025, supported by more powerful drilling activity in North America and greater typical U.S. day rates, which more than balanced out lower worldwide outcomes. 19659016 Changed EBITDA (1) increased 6% to$ 125 million from$ 118 million in 2025, mainly due to more powerful activity in North America, partly balanced out by greater U.S. rig reactivation expenses and lower worldwide margins. Share-based settlement expenditure was $8 million in the 3rd quarter of 2026 compared to$ 11 million in 2025. 19659017 Net revenues attributable to investors in the 3rd quarter was $21 million compared to a bottom line of$ 7 million in 2025. This boost was mainly due to greater deferred earnings tax expenditure in 2025 associated to our U.S. operations, partly balanced out by $8 countless extra devaluation cost in 2026 arising from our formerly interacted modification in beneficial life price quotes. 19659018 Money offered by operations throughout the quarter was $71 million compared to $76 million, enabling the repurchase of $31 countless typical shares. 19659019 Capital investment were $82 million compared to $69 million in the 3rd quarter of 2025. Accuracy has actually modified its 2026 capital spending plan from $265 million to a series of $275 million to $285 million to accommodate long-lead shipments and a pending upgrade chance, which would have numerous rigs contracted through 2029 for a big Canadian manufacturer. Capital costs by invest classification 19459360 (1) 19459361 is anticipated to consist of roughly $172 million for upkeep, facilities, and intangibles and $103 million to $113 million for growth and upgrades. Post material 19659021 Short article material 19659022 Functional Highlights Short article material Canada balanced 73 active rigs, up 16% compared to 63 active rigs in the 3rd quarter of 2025, in line with greater market activity (2) 19659025 Canadian income per usage day was $33,654 compared to $34,193 in 2025. The modest decrease shows rig mix instead of prices, as robust heavy oil activity increased usage of Super Single rigs by 18% year over year. 19659026 U.S. balanced 43 active rigs, up 19% compared to 36 active rigs in the 3rd quarter of 2025, showing our enhanced client base and competitive position. This development outmatched the U.S. market’s 10% boost in activity. U.S. earnings per usage day increased to US$ 33,270 from US$ 31,040 in the exact same duration in 2015, driven by greater typical day rates and increased innovation earnings. Worldwide, we had 7 active rigs throughout the quarter, with 3 in the Kingdom of Saudi Arabia and 4 in Kuwait, compared to 2 and 5 rigs, respectively, in 2025. This modification in rig mix and prepared rig recertifications, leading to non-billable days, reduced earnings per usage day to US$ 46,304 from US$ 53,811. 19659029 Canadian well servicing rig operating hours increased 6% compared to the very same quarter in 2025. Greater oil rates drove incremental need as clients wanted to optimize capital, while Adjusted EBITDA increased 10%. Short article material 19659031 (1 ) See “FINANCIAL MEASURES AND RATIOS.” 19459363 (2 ) See “SEGMENT REVIEW OF CONTRACT DRILLING SERVICES.” 19659032 Post material MANAGEMENT COMMENTARY 19659034 Post material Accuracy’s President and CEO, Carey Ford, offered the following commentary: Short article material “Precision provided another quarter of strong functional and monetary execution, highlighted by year-over-year development in income, Adjusted EBITDA, and net profits, robust activity in Canada, and continued enhancement in U.S. rig activity and day rates. We are providing on what we set out to achieve in 2026: growing earnings and deepening client relationships, creating complimentary capital, and returning capital to investors. 19659038 Post material 19659039 “During the 3rd quarter, our drilling rig usage increased 16% in Canada and 19% in the U.S. compared to the previous year, exceeding market activity in both markets. In Canada, our distinct positioning in heavy oil basins drove our outperformance, while in the U.S., we even more reinforced our consumer base, increased day rates, and reactivated 6 rigs to satisfy growing client need. We continue to invest selectively in our fleet and anticipate to finish upgrades to 25 rigs throughout Canada and the U.S. this year, improving our competitive position in core markets and supporting future development. Post material Post material 19659042 “Our capital generation continues to support a well balanced method to capital allowance. Throughout the quarter, we produced $71 countless money from operations, invested $24 million into fleet upgrades, and returned $31 million to investors through share repurchases. Year to date, we have actually redeemed $47 countless shares while decreasing financial obligation by $75 million. With our long-lasting take advantage of target within reach, we anticipate to get in 2027 with higher versatility to direct complimentary capital towards direct investor returns. Post material 19659044 “Looking ahead to 2027, our company believe we are extremely well placed to sustain momentum developed this year, with our growing North American agreement book even more reinforcing our outlook. In Canada, robust consumer need is placing us for among our busiest winter season drilling seasons in years, with our Super Triple and Super Single rigs anticipated to be near complete usage. In Completion and Production Services, beneficial manufacturer economics, our separated service design and broadening drilling and service leasings services are anticipated to support ongoing development and enhanced success. 19659045 Short article material 19659046 Post material “In the U.S., our method is providing outcomes. With most of our prepared rig reactivations behind us, we anticipate U.S. running margins to increase roughly 30% throughout the 4th quarter of 2026, developing a more powerful structure for 2027. Our focus stays on lining up with clients who value Precision’s high-performance possessions, innovation, security and functional execution. This development is tactical, reinforcing our company and producing sustainable worth for investors. 19659048 Short article material “Internationally, our 7 active rigs are supported by long-lasting agreements, supplying a steady base of activity and capital. We anticipate our idle rig in Kuwait to go back to operate in mid-2027 under a five-year agreement, following prepared recertifications and upgrades. While geopolitical unpredictability and raised local expenses stay crucial factors to consider, our groups continue to perform securely and dependably for consumers. Post material 19659051 “As we move through the last quarter of 2026, we are motivated by the momentum throughout our company and the development we have actually made towards our tactical top priorities. While product rate volatility and geopolitical unpredictability stay, we are getting in 2027 with a more powerful U.S. service, high usage throughout our core Canadian fleet, steady global operations and continued development in Completion and Production Services, offering a special platform for producing totally free capital and providing long-lasting worth for investors. Post material “Finally, I wish to thank our workers for their commitment and our investors for their ongoing assistance. I would likewise like to acknowledge Veronica Foley, our Chief Legal and Compliance Officer, for her years of devoted service and lots of contributions to Precision. On behalf of everybody at Precision, I thank Veronica and want her every success in the next chapter of her profession,” concluded Mr. Ford. 19659054 Short article material CHOOSE FINANCIAL AND OPERATING INFORMATION Post material Financial Highlights 19659058 Post material 19659059 19459367 For the 3 months ended September 30, 19659061 19459367 For the 9 months ended September 30, (Stated in countless Canadian dollars, other than per share quantities. 19659064 Weighted typical shares exceptional are mentioned in thousands.) 19659065 19659066 2026 19659068 2025 19659072 % Change 19659074 19659075 19659076 2026 19659077 2025 19659081 19659082 % Change 19659083 Earnings 19659085 19659086 531,652 19659087 19659090 462,250 19659091 19659093 19659094 15.0 1,510,503 19659100 19659101 19659102 1,365,196 19659104 19659105 19659106 10.6 19659107 19659108 Changed EBITDA (1) 19659109 19659110 125,116 19659111 117,632 19659118 6.4 19659119 19659122 346,118 363,229 19659129 19659130 (4.7 19659131 Net incomes (loss) 19659134 21,286 19659135 19659137 19659138 (6,472 19659139 19659141 19659142 428.9 19659143 19659144 38,238 19659149 44,962 19659152 19659154 (15.0 19659156 Net profits (loss) attributable to investors 19659158 20,917 19659161 19659162 (6,761 19659163 19659164 19659165 409.4 19659168 37,098 19659172 19659174 44,017 19659175 19659176 19659178 (15.7 Money supplied by operations 70,813 19659185 75,869 19659187 19659189 (6.7 19659192 279,536 19659195 19659196 19659197 19659198 286,783 19659199 19659202 (2.5 19659203 19659204 19659206 19459367 19659207 19659208 19659209 19659210 19459367 19459367 19659213 19459367 19659216 Money utilized in investing activities 19659217 78,739 61,194 19659223 19659225 19659226 28.7 19659227 19659229 208,202 19659231 19659232 19659233 154,445 19659235 19659236 19659237 34.8 19659239 19659240 Capital costs by invest classification 19459360 (1) 19459367 19659245 19659246 19459367 19659248 19659249 19459367 19459367 Growth and upgrade 19659255 24,015 19659256 19659257 19659258 35,314 19659260 19659261 19659262 (32.0 84,556 19659268 81,617 19659272 19659275 3.6 19659276 19659277 Upkeep and facilities 19659279 58,467 34,012 19659284 19659285 71.9 19659288 19659289 19659291 139,290 19659294 19659295 100,447 19659297 19659298 19659299 38.7 Profits on sale (4,822 19659305 19659306 19659307 (6,200 (22.2 19659312 19659313 19659315 (19,122 19659317 (21,794 19659321 19659322 19659323 (12.3 19659324 19659325 Net capital costs 19459360 (1) 19659326 77,660 19659329 19659331 63,126 19659333 19659335 23.0 19659336 19659338 204,724 19659340 19659341 19659342 19659343 160,270 19659344 19659345 19659346 19659347 27.7 19659348 19459367 19659353 19459367 19459367 19659356 19459367 19659358 19659361 Net revenues (loss) attributable to investors per share: 19659362 19659364 19459367 19659366 19659367 19659369 19659370 19459367 19659372 19659373 Standard 19659374 1.65 19659376 19659377 (0.51 19659381 19659383 423.5 19659386 2.89 19659391 3.28 19659392 19659393 (11.9 19659396 19659397 Watered down 19659399 1.65 19659400 19659401 (0.51 19659407 423.5 19659408 19659409 19659410 2.89 19659412 19659413 3.09 19659416 19659417 (6.5 19659420 Weighted typical shares exceptional: 19659423 19459367 19459367 19659426 19659427 19459367 19659429 19659433 Standard 19659434 19659435 12,676 19659436 19659439 13,211 19659443 (4.0 19659444 19659447 12,845 19659449 19659450 19659451 13,430 19659452 19659454 (4.4 19659456 Watered down 19659458 19659459 12,686 19659461 19659462 13,211 19659464 19659467 (4.0 19659470 12,854 19659472 19659474 14,070 19659478 (8.6 19659480 19659481 Post material 19659482 Post material (1 ) See “FINANCIAL MEASURES AND RATIOS.” Short article material 19659485 Running Highlights Short article material For the 3 months ended September 30, 19659489 19459367 For the 9 months ended September 30, 19659490 19459367 2026 19659493 19459367 2025 19659494 19659495 19459367% Change 19659496 19659497 19459367 2026 19659499 2025 % Change 19659502 Agreement drilling rig fleet 19659504 19659505 184 19659508 215 19659510 19659511 (14.4 19659515 19659516 184 19659518 215 19659524 (14.4 19659526 19659527 Drilling rig usage days: 19459367 19659529 19659530 19659531 19459367 19659532 19459367 19459367 19459367 Canada 6,675 19659542 19659545 5,766 19659549 15.8 19659552 19,302 19659554 17,026 19659558 19659560 19659561 13.4 19659563 U.S. 19659564 19659565 3,968 19659566 19659567 19659568 19659569 3,341 19659570 19659571 18.8 19659574 19659577 10,516 19659578 19659579 19659581 9,065 19659583 19659584 16.0 International 19659589 644 19659590 19659592 19659593 644 19659594 19659595 19659596 19659597– 19659599 19659600 1,892 19659603 19659604 19659605 2,044 19659606 19659608 (7.4 19659611 Profits per usage day: 19459367 19659612 19459367 19659617 19459367 19659618 19659619 19459367 19659622 19659623 Canada (Cdn$) 19659624 33,654 19659628 34,193 19659630 19659631 19659632 19659633 (1.6 19659634 19659637 34,670 19659638 19659639 19659640 35,695 19659642 19659643 19659644 19659645 (2.9 U.S. 19459345 (US$) 19659649 33,270 19659651 31,040 19659655 7.2 19659658 19659660 19659661 33,268 19659662 19659663 19659664 31,693 19659666 19659668 5.0 19659670 International (US$) 19659673 46,304 19659675 53,811 19659679 (14.0 19659682 19659683 19659684 19659685 49,433 19659687 19659688 52,037 19659690 19659691 19659693 (5.0 Running expenses per usage day: 19659696 19659697 19659700 19459367 19659702 19659704 19659707 Canada (Cdn$) 20,837 19659710 19659712 21,186 19659714 (1.6 19659719 19659721 21,017 19659722 19659724 19659725 21,375 19659727 (1.7 19659731 U.S. 19459345 (US$) 19659732 19659733 25,617 19659734 19659736 19659737 22,340 19659738 19659739 14.7 19659743 19659745 25,559 19659746 19659747 19659749 22,709 19659750 19659751 19659753 12.6 19659755 19459367 19659757 19459367 19659758 19659759 19659762 19659763 19659764 19459367 19659766 19659767 Service rig fleet (signed up) 19659768 19659769 150 148 19659775 19659776 19659777 1.4 19659778 19659779 19659780 19659781 150 19659782 19659784 148 19659786 19659787 1.4 Service rig operating hours 19659793 67,071 19659794 19659795 19659796 63,522 19659800 5.6 189,944 19659806 172,936 19659811 9.8 19659814 Post material Post material Drilling Activity 19659818 Post material 19659819 19459367 Typical for the quarter ended 2025 19659820 Typical for the quarter ended 2026 19659822 19459367 Mar. 31 19459367 June 30 19659825 19459367 Sept. 30 19659827 19659828 19459367 Dec. 31 Mar. 31 19659831 June 30 19459367 Sept. 30 Typical Precision active rig count (1) 19459361: 19459367 19659837 19659841 19659843 19659845 19659846 19459367 19659849 19659850 Canada 19659851 74 19659853 19659854 19659856 50 19659858 63 19659861 19659862 19659864 66 19659865 79 19659869 19659872 61 19659876 73 U.S. 19659879 19659880 30 19659881 19659883 33 19659885 36 19659892 37 19659893 19659896 37 35 19659901 43 International 19659907 19659908 8 19659912 7 7 19659918 7 19659921 19659923 19659924 7 19659926 7 19659931 19659932 7 19659933 Overall 19659936 112 19659938 90 19659941 19659944 106 19659945 19659948 110 19659949 19659952 123 19659954 19659955 19659956 103 19659960 123 19659961 Post material Short article material (1 ) Average variety of drilling rigs working or moving. Short article material 19659966 Financial Position 19659967 Short article material 19659968 (Stated in countless Canadian dollars, other than ratios) 19659969 19459347 September 30, 2026 19659970 December 31, 2025 Operating capital 19459360 (1) 163,850 19659977 19659978 186,815 19659980 19659981 Money 23,177 19659985 19659987 85,781 Long-lasting financial obligation 629,116 19659995 679,291 19659996 Overall long-lasting monetary liabilities 19459360 (1) 19659999 698,478 19660001 746,944 19660004 Overall possessions 2,765,893 19660009 2,726,690 19660012 Long-lasting financial obligation to long-lasting financial obligation plus equity ratio 19459360 (1) 19660014 0.28 19660018 0.30 19660021 Short article material (1 ) See “FINANCIAL MEASURES AND RATIOS.” 19660023 Post material 19660024 Summary for the 3 months ended September 30, 2026: Post material Profits in the 3rd quarter was $532 million, up $69 million from 2025 Canadian income increased by $33 million, as greater oil rates supported increased need for drilling and well maintenance activity. U.S. earnings increased by $42 million, driven by increased rig usage, greater typical day rates and increased innovation profits. These boosts were partly balanced out by lower global outcomes of $6 million due to rig mix and prepared rig recertifications leading to non-billable days. 19660027 Changed EBITDA increased 6% to $125 million from $118 million in the 3rd quarter of 2025, mostly due to more powerful activity in North America and share-based settlement expenditure of $8 million compared to $11 million in 2025. These boosts were partly balanced out by greater U.S. rig reactivation expenses, as we reactivated 6 rigs throughout the quarter compared to 4 in 2025 and lower global margins arising from a modification in rig mix and greater global business expenses due to geopolitical stress in the Middle East. For extra details on share-based payment, please describe “Other Items” later on in this press release. 19660028 Net incomes attributable to investors was $21 million or $1.65 per share compared to a bottom line of $7 million or $0.51 per share for the exact same duration in 2015. The boost was mostly due to lower earnings tax expenditure, as 2025 consisted of a $33 million deferred earnings tax cost associated to the waiving of particular U.S. tax reductions. Net incomes in 2026 consisted of $8 countless extra devaluation cost from the modification in beneficial life approximates efficient January 1, 2026. For extra details on devaluation, please describe “Other Items” later on in this press release. Money offered by operations was $71 million in the 3rd quarter of 2026. Throughout the quarter, the Company bought 269,331 shares for $31 million. Accuracy ended the quarter with $23 countless money and more than $460 million in readily available liquidity. In Canada, our operating margin (1) 19459361 was $12,817 compared to $13,007 in the exact same duration in 2015, mostly due to a greater 19459345 Super Single 19459346 rig mix, as robust heavy oil activity increased usage of these rigs 18% year over year. 19660031 In the U.S., our operating margin was US$ 7,653, below US$ 8,700 in 2025. Earnings increased by 29% throughout the quarter, margins were affected by greater rig reactivations. Reactivation expenses balanced US$ 2,125 per usage day as we reactivated 6 rigs and placed business to support greater activity levels, compared to US$ 502 per usage day in 2025 when 4 rigs were reactivated. 19660032 Worldwide, we had 7 active rigs throughout the quarter, with 3 in Saudi Arabia and 4 in Kuwait, compared to 2 and 5 rigs, respectively, in the 3rd quarter of 2025. Earnings per usage day reduced to US$ 46,304 from US$ 53,811 in the exact same duration in 2015 mainly due to the modification in rig mix and prepared rig recertifications that led to non-billable usage days. As an outcome, profits reduced to US$ 30 million in the 3rd quarter of 2026 compared to US$ 35 million in 2025. 19660033 Conclusion and Production Services profits was $81 million, a boost of $6 million compared to 2025, mostly due to more powerful consumer need for well services and surface area rental devices driven by greater oil rates. Changed EBITDA was $21 million, representing 26% (2) of earnings, constant with the 3rd quarter of 2025. 19660034 Capital investment were $82 million compared to $69 million in the 3rd quarter of 2025 and consisted of $58 million for upkeep of existing possessions and facilities, driven by greater activity, and $24 million for upgrades 19459360 (2) due to increased consumer need. 19660035 Short article material 19660036 (1 ) Defined as earnings per usage day less running expenses per usage day. 19459363 (2 ) See “FINANCIAL MEASURES AND RATIOS.” 19660037 Post material Summary for the 9 months ended September 30, 2026: 19660039 Short article material 19459358 Profits for the very first 9 months of 2026 was $1,511 million, a boost of $145 million from the exact same duration in 2025. Canadian earnings increased by $83 million due to greater drilling, well servicing and drilling associated leasings activity, while U.S. income increased by $82 million due to enhanced drilling activity and greater typical day rates. These boosts were partly balanced out by lower global drilling earnings. 19660041 Changed EBITDA reduced 5% to $346 million from $363 million in 2025, mostly due to lower in advance capital payments in Canada, increased operating expense in the U.S. and worldwide and greater share-based payment cost as our share rate valued 16% throughout the very first 9 months of 2026. For extra info on share-based payment, please describe “Other Items” later on in this press release. Net profits attributable to investors was $37 million or $2.89 per share, compared to $44 million or $3.28 per share, in the exact same duration in 2015. The decline in net incomes was mainly due to the effect of lower EBITDA outcomes and increased devaluation expenditure of $30 million from the modification in helpful life price quotes, partly balanced out by greater deferred earnings tax cost associated to our U.S. operations in 2025. For extra details on devaluation, please describe “Other Items” later on in this press release. 19660043 General and administrative costs were $99 million compared to $85 million in the very first 9 months of 2025, with the boost mostly due to greater share-based payment cost and global restructuring expenses. Money supplied by operations was $280 million and the Company redeemed 405,621 shares for $47 million and lowered long-lasting financial obligation by $75 million. 19660045 Capital investment were $224 million compared to $182 million in the very first 9 months of 2025. and consisted of $139 million for the upkeep of existing properties and facilities, driven by greater activity, and $85 million for client driven upgrades. Post material Post material 19660048 METHOD 19660049 Short article material 19660050 Accuracy’s vision is to be internationally acknowledged as the 19459345 High Performance, High Value service provider of land drilling services. We pursue this vision by specifying and determining our outcomes versus tactical concerns that we develop at the start of every year. Short article material Accuracy’s 2026 tactical top priorities and the development made throughout the 3rd quarter are summed up listed below. Short article material 19660054 Drive earnings development and deepen client relationships through contracted upgrades, constant functional quality, and by leveraging our performance-driven innovation as a crucial competitive differentiator. 19459358 Grew rig usage 16% in Canada and 19% in the U.S. year over year, exceeding market activity in each area. Increased rig day rate rates in the U.S. compared to the previous quarter and the 3rd quarter of 2025. 19660056 Reinforced our U.S. consumer base, increasing the variety of drilling rigs working for significant manufacturers. Optimize complimentary capital through tactical capital release and continual expense discipline. 19459348 19459358 Produced money from operations of $71 million, permitting Precision to redeem shares and reinvest in high-return fleet upgrades to fulfill client need. 19660058 Reactivated 6 rigs in the U.S., to satisfy consumer need and position Precision for future development chances. 19660059 Yearly capital budget plan of in between $275 million to $285 million consists of tactical client upgrades to 25 drilling rigs throughout Canada and the U.S., backed by long-lasting agreements. Boost investor returns by minimizing financial obligation by $100 million in 2026 and designating approximately 50% of totally free capital, before financial obligation payments, straight to investors. 19459348 19459358 Returned $31 million to investors by redeeming 269,331 shares throughout the quarter. Year to date, we have actually redeemed $47 countless shares and stay dedicated to our yearly assistance target. Since September 30, 2026, we have actually lowered financial obligation by $75 million throughout the year and continue to target a continual Net Debt to Adjusted EBITDA ratio 19459360 (1) of listed below 1.0 times. 19660062 Well placed to fulfill our long-lasting financial obligation decrease target of $700 million in between 2022 and 2027, having actually minimized our financial obligation by $610 million because the start of 2022. 19660063 Post material Short article material 19660065 (1 ) See “FINANCIAL MEASURES AND RATIOS.” Short article material 19660067 OUTLOOK 19660068 Short article material 19660069 Continuous geopolitical unpredictability and fairly tight worldwide petroleum stocks have actually enhanced the value of safe and trustworthy energy supply, supporting useful oil rates and consumer financial investment self-confidence. While consumers stay concentrated on capital discipline and monetary returns, we continue to see continual need for high-performance drilling rigs and well service devices. Presuming product rates stay helpful and market conditions do not materially alter, we anticipate North American drilling and conclusion activity to stay resistant and broadly constant with existing levels through the rest of the year with development prospective emerging early in 2027. 19660070 Short article material 19660071 In Canada, beneficial heavy oil and condensate rates continue to support manufacturer economics and consistent upstream financial investment throughout oil and gas developments. Need for our Super Series rigs stays robust, and we anticipate near complete usage of this rig class throughout the winter season drilling season. Short article material In the U.S., oil-directed drilling activity has actually continued to enhance, with the oil well count increasing considering that May and market expectations indicating more development over the next 12 months. We have actually increased our oil-weighted activity while preserving a strong position in essential gas basins, consisting of the Haynesville and Marcellus. We see chances for incremental activity as market conditions enhance, while staying concentrated on deepening consumer relationships and enhancing margins. Post material 19660075 Globally, our teams continue to securely provide services to our consumers in spite of small activity disturbances and incremental expenses associated with the Middle East stress. We have 7 active rigs, consisting of 4 in Kuwait and 3 in the Kingdom of Saudi Arabia, all under five-year term agreements extending into 2027 and 2028. We anticipate our idle rig in Kuwait to go back to operate in mid-2027 under a five-year agreement, following prepared recertifications and upgrades. Crew-related operating expense are anticipated to stay raised while local stress continue. We continue to pursue chances for our one idle worldwide rig. 19660076 Post material 19660077 As Canada’s leading well company, we stay positive about the long-lasting outlook for our Completion and Production Services company. We anticipate need to stay strong through early 2027, supported by beneficial product rates and egress capability, as manufacturers continue to concentrate on capital generation. Our High Performance, High Value service offering continues to support consumer need. Our growing drilling and service leasings organizations are providing incremental year-over-year earnings and rewarding development, while reinforcing our distinguished, full-service offering to consumers. We see chances for ongoing development in this part of business. 19660078 Post material Short article material In general, our outlook for the rest of the year and into 2027 stays positive. For the 4th quarter, our operating margins in Canada are anticipated to stay constant to our reported margins in the 4th quarter of 2025, balancing in between $13,500 and $14,500 per usage day. In the U.S., we anticipate an action modification in running margins as the speed of our rig reactivations slows, with running margins balancing in between US$ 9,500 and US$ 10,500 per usage day. Post material We stay dedicated to investor returns and anticipate to attain our $100 million financial obligation payment target for the year while continuing to actively redeemed shares in the 4th quarter, structure on the $47 countless buybacks finished to date. Short article material 19660084 Agreements 19660085 Short article material The following chart details the typical variety of drilling rigs under term agreement by quarter since October 27, 2026. For the quarter ending after September 30, 2026, this chart represents the minimum variety of term agreements from which we will make earnings. We anticipate the real variety of contracted rigs to differ in future durations as we sign extra term agreements. Short article material 19660088 Post material As at October 27, 2026 Typical for the quarter ended 2025 19660091 19660092 19459367 Typical 19660093 19660094 Typical for the quarter ended 2026 19660095 Typical 19660097 19660098 19660099 19459367 Mar. 31 19660100 19660101 June 30 19660102 19459367 Sept. 30 19660104 19459367 Dec. 31 19660106 2025 19459367 Mar. 31 19459367 June 30 19459367 Sept. 30 19660114 19660115 19459367 Dec. 31 19660116 19660117 2026 19660119 Typical rigs under term agreement: 19660120 19660122 19459367 19660123 19660124 19660126 19660127 19660128 19660129 19660130 19459367 19660132 19660134 19660139 Canada 19660141 19660142 19660143 20 19660145 19660147 18 19660151 16 19660152 19660155 21 19660156 19660157 19 19660162 21 19 19660170 19660171 28 19660172 19660173 19660175 28 19660176 19660177 19660178 24 19660181 U.S. 16 19660185 19660188 16 19660189 17 19660194 19660196 17 19660197 19660200 17 19660203 19660204 15 19660208 15 19660211 19 19660216 18 19660217 19660218 19660220 17 19660222 International 19660223 19660224 8 19660226 19660227 19660229 7 19660231 19660233 7 19660234 19660236 19660237 7 19660238 19660239 19660241 7 19660243 19660245 7 19660246 19660249 7 7 19660255 7 19660258 19660259 19660260 7 19660263 Overall 19660264 19660265 19660266 44 19660269 19660270 41 19660271 19660273 40 19660275 19660277 19660278 45 19660281 19660282 43 19660284 19660285 43 19660287 19660289 19660290 41 54 19660295 53 19660301 48 19660304 Short article material 19660305 Short article material 19660306 SEGMENTED FINANCIAL RESULTS Short article material 19660308 Accuracy’s operations are reported in 2 sections: Contract Drilling Services, that includes our drilling rigs, procurement and circulation of oilfield products, and the manufacture, sale and repair work of drilling devices; and Completion and Production Services, that includes our service rigs, oilfield devices leasing, and camp services. 19660309 Short article material 19660310 SECTOR REVIEW OF CONTRACT DRILLING SERVICES Post material 19660312 19459367 For the 3 months ended September 30, 19660313 For the 9 months ended September 30, 19660315 19660316 (Stated in countless Canadian dollars, other than where kept in mind) 19660317 19660318 2026 19660321 2025 19660324 19459367% Change 19660325 19660326 19660328 2026 19660329 19660330 19660331 2025 19660333 19459367% Change 19660335 19660336 Income 19660337 454,190 19660340 19660342 390,943 19660344 19660346 16.2 19660348 19660349 1,293,043 19660351 19660353 19660354 1,165,752 19660355 19660357 10.9 19660359 Expenditures: 19660361 19660363 19660364 19459367 19660365 19660366 19459367 19660369 19459367 19660371 19660372 Running 19660374 322,211 19660375 19660376 19660377 19660378 264,300 19660381 21.9 19660383 19660384 908,240 19660387 19660388 19660389 771,160 19660393 19660394 17.8 19660395 19660396 General and administrative 10,509 19660399 19660401 9,783 19660405 7.4 19660410 35,656 19660411 30,294 19660415 19660416 19660417 17.7 19660420 Changed EBITDA (1) 19660422 121,470 19660423 19660424 19660425 116,860 19660427 19660429 3.9 19660431 19660432 19660434 349,147 19660437 364,298 19660439 (4.2 19660443 Changed EBITDA as a portion of income (1) 19660445 26.7 % 19660448 19660449 19660450 29.9 19660451 % 19660453 19660454 19660456 27.0 19660457 % 19660459 19660460 31.3 19660461 % 19660462 Post material (1 ) See “FINANCIAL MEASURES AND RATIOS.” Short article material Canadian onshore drilling stats: (1) 2026 19660469 2025 19660472 Accuracy 19660473 19660474 Market (2) 19459367 Accuracy Market 19459360 (2) Typical variety of active land rigs for quarters ended: 19459367 19660482 19660483 19660486 19459367 19660489 March 31 19660491 79 19660493 199 19660496 74 19660502 19660503 214 June 30 61 19660508 19660509 147 19660512 50 19660518 127 19660521 September 30 73 19660524 19660525 19660526 19660527 203 19660528 19660529 19660530 19660531 63 19660535 176 19660536 19660537 Year to date typical 19660538 71 19660542 19660543 183 19660544 19660545 19660547 62 19660548 19660550 172 Post material 19660554 (1 ) Canadian operations just. (2 ) Source: Baker Hughes rig counts. Post material United States onshore drilling data: (1) 19660557 19459347 2026 19459367 2025 19459367 Accuracy 19660562 19660563 Market (2) 19660565 19660566 Accuracy 19660567 19660568 19459367 Market 19459360 (2) 19660569 Typical variety of active land rigs for quarters ended: 19660571 19660572 19459367 19459367 19660575 19459367 19660577 March 31 19660580 37 19660581 19660582 19660583 19660584 530 19660586 19660587 30 19660591 19660592 572 19660594 June 30 19660596 35 538 19660602 33 19660607 19660608 556 September 30 19660611 43 19660616 575 36 19660621 19660622 19660624 525 19660625 19660626 Year to date typical 38 19660629 19660630 19660631 548 19660633 19660634 19660635 19660636 33 19660637 19660640 551 19660641 19660642 Short article material 19660643 (1 ) United States lower 48 operations just. (2 ) Source: Baker Hughes rig counts. 19660644 Post material SECTOR REVIEW OF COMPLETION AND PRODUCTION SERVICES 19660646 Post material For the 3 months ended September 30, For the 9 months ended September 30, 19660650 19660651 (Stated in countless Canadian dollars, other than where kept in mind) 19660652 19660653 2026 19660656 2025 19660658 19660659 19459367% Change 19660661 2026 19660664 19660665 19660667 2025 19660668 % Change 19660670 19660671 Profits 80,785 19660675 19660677 74,612 8.3 19660682 19660683 19660684 19660685 226,348 19660687 19660688 207,878 19660693 8.9 Expenditures: 19660697 19660698 19660700 19660701 19459367 19660704 19660705 19459367 19660706 19660707 Running 19660708 19660709 56,804 19660713 52,832 19660714 19660715 19660716 7.5 19660718 19660719 165,992 19660722 19660723 19660725 153,914 19660728 19660729 7.8 General and administrative 19660733 2,760 19660734 19660735 19660737 2,509 19660738 19660739 10.0 19660742 7,880 19660747 19660748 19660749 7,271 8.4 19660755 Changed EBITDA 19459360 (1) 19660757 21,221 19,271 10.1 19660767 19660769 52,476 19660770 19660772 46,693 19660775 19660777 12.4 Changed EBITDA as a portion of income 19459360 (1) 26.3 % 19660783 19660785 25.8 % 19459367 19660789 19660790 19660791 23.2 % 19660793 19660794 22.5 19660796 % 19660797 19660798 19660799 Well servicing data: 19459367 19660800 19660801 19660802 19660803 19660804 19660806 19660807 19660809 19459367 19660810 19660811 Variety of service rigs (signed up) 19660812 19660813 150 19660814 19660817 148 19660818 19660819 19660821 1.4 19660825 150 19660827 19660828 19660829 148 19660833 1.4 19660834 Service rig operating hours 67,071 19660838 19660839 19660840 19660841 63,522 19660842 19660843 19660845 5.6 19660848 189,944 19660852 172,936 19660854 19660855 19660856 19660857 9.8 19660858 19660859 Post material Short article material (1 ) See “FINANCIAL MEASURES AND RATIOS.” 19660862 Short article material OTHER ITEMS Short article material Share-based Incentive Compensation Plans 19660866 Short article material 19660867 We have a number of money and equity-settled share-based reward prepare for non-management directors, officers, and other qualified staff members. Our accounting policies for each share-based reward strategy can be discovered in our 2025 Annual Report. 19660868 Short article material A summary of expenditure quantities under these strategies throughout the reporting durations are as follows: Short article material For the 3 months ended September 30, 19660872 19459367 For the 9 months ended September 30, 19660874 (Stated in countless Canadian dollars) 19660876 19459347 2026 19660877 19660878 19459367 2025 19459367 2026 19459367 2025 19660884 Money settled share-based reward strategies 19660885 5,794 19660888 19660889 19660890 9,285 19660891 19660894 18,198 19660896 19660897 19660898 12,350 19660900 Equity settled share-based reward strategies 19660901 19660902 1,760 19660906 1,544 19660908 19660909 19660910 6,677 19660911 19660912 19660914 5,521 19660915 19660916 Overall share-based reward settlement strategy expenditure 19660917 19660918 7,554 19660921 10,829 19660924 19660926 24,875 19660928 19660929 19660930 17,871 19660931 19459367 19660933 19660934 19660935 19660937 Assigned: 19459367 19660944 19660945 19660946 19660947 Running 19660950 1,690 19660952 2,308 19660956 19660957 19660958 5,933 19660960 19660962 4,690 General and Administrative 19660965 19660966 5,864 19660970 8,521 19660972 19660973 19660974 18,942 19660975 19660976 13,182 19660979 19660982 7,554 19660983 19660984 19660985 19660986 10,829 19660988 19660989 19660990 24,875 19660991 17,872 19660995 Short article material Post material 19660998 Contingencies 19660999 Short article material In the 2018 to 2023 tax years, Precision deducted particular intercompany dividends gotten in connection with a favored share funding. In late July 2026, Precision got a Notice of Reassessment ( NOR from the Canada Revenue Agency ( CRA 19459348 connecting to its 2018 tax year, rejecting the reduction of such intercompany dividends. In addition to the 2018 NOR, Precision got a proposition from the CRA for the 2019 to 2022 tax years on the very same basis, however no reassessments have actually been gotten at this time. 19661001 Post material 19661002 Post material 19661003 Accuracy will submit a Notice of Objection to the 2018 NOR and means to intensely object to the 2018 NOR along with any extra reassessments that might be provided by the CRA in regard of the intercompany dividends got. The Company and its tax consultants declare that the Company’s tax filing position is proper. Accuracy has actually not acknowledged a liability in its unaudited interim combined monetary declarations with regard to the reassessment. 19661004 Post material Due to existing tax swimming pools, the CRA’s reassessment of the 2018 tax year and prepared for reassessments of the 2019 to 2023 tax years are not anticipated to effect taxes payable up until the 2024 to 2027 tax years. Extra notifications of reassessment for the subsequent tax years are anticipated to be released over the next 24 months. If it is eventually identified that the Company is not entitled to subtract the intercompany dividends, we approximate an optimal tax liability of roughly $155 million, omitting interest. 19661006 Post material 19661007 As soon as reassessments are provided, Precision will be needed to pay 50% of the evaluated tax liability and interest, up until the concern has actually been dealt with. If Precision is eventually effective in protecting its position, then any taxes and interest paid to the CRA will be reimbursed plus interest, and if the CRA achieves success then any staying taxes and interest payable will need to be remitted by Precision. Short article material Devaluation 19661010 Short article material 19661011 In 2025, we evaluated our drilling rig devices and modified the approximated beneficial life of drill pipeline, reliable January 1, 2026, as more complicated drilling programs have actually decreased the helpful life of this property class. This modification led to extra devaluation cost of $8 million in the 3rd quarter of 2026 and $30 million year to date. 19661012 Post material FINANCIAL MEASURES AND RATIOS Post material 19661015 19459347 Non-GAAP Financial Measures We reference specific extra Non-Generally Accepted Accounting Principles ( Non-GAAP 19459348 procedures that are not specified terms under IFRS Accounting Standards to evaluate efficiency due to the fact that our company believe they offer helpful extra details to financiers. 19661017 Changed EBITDA 19661018 Our company believe Adjusted EBITDA (profits before earnings taxes, (gain) loss on financial investments and other possessions, financing charges, forex, gain on possession disposals and devaluation and amortization), as reported in our Condensed Interim Consolidated Statements of Net Earnings (Loss) and our reportable operating sector disclosures, is a beneficial step since it offers a sign of the arise from our primary organization activities prior to factor to consider of how our activities are funded and the effect of forex, tax and devaluation and amortization charges. 19459363 The most straight similar monetary step is net profits. 19661019 Short article material 19661020 Post material 19459367 For the 3 months ended September 30, 19661023 19459367 For the 9 months ended September 30, (Stated in countless Canadian dollars) 2026 19661028 19661030 2025 19661032 19661034 19661035 2026 19661036 19661037 19661039 2025 19661040 19661041 Changed EBITDA by sector: 19661045 19459367 19661047 19459367 19661048 19661049 Agreement Drilling Services 19661051 121,470 19661053 19661054 19661055 116,860 19661058 19661059 349,147 19661061 19661062 19661063 364,298 19661064 Conclusion and Production Services 19661066 19661067 21,221 19661068 19661070 19,271 19661074 19661075 52,476 19661077 19661078 46,693 19661080 Business and Other 19661083 (17,575 19661084 (18,499 19661088 19661090 19661091 (55,505 19661092 19661093 19661095 (47,762 19661097 Changed EBITDA 19661098 19661099 125,116 19661100 19661103 117,632 19661104 19661106 346,118 19661108 19661110 19661111 363,229 19661112 19661113 Devaluation and amortization 19661115 82,586 19661116 19661118 79,487 19661121 19661122 249,594 19661125 19661126 19661127 229,381 Gain on possession disposals 19661130 19661131 (2,950 19661132 (3,454 19661136 (5,130 19661141 19661143 (12,751 19661144 Forex 19661147 246 19661149 19661151 717 19661152 19661153 1,031 19661156 19661157 19661158 19661159 (533 Financing charges 19661162 12,433 19661166 19661167 13,751 19661169 19661170 19661171 37,090 19661172 19661175 44,368 (Gain) loss on financial investments and other properties 120 19661181 19661182 (94 19661184 19661186 650 19661188 19661190 19661191 1,531 Earnings taxes 19661195 11,395 19661196 19661197 19661198 19661199 33,697 19661200 19661201 19661203 24,645 19661204 19661206 19661207 56,271 19661209 Net revenues (loss) 19661211 21,286 19661212 (6,472 19661218 19661219 38,238 19661221 19661223 44,962 19661225 Non-controlling interest 369 19661231 289 19661233 19661234 1,140 19661236 19661238 19661239 945 19661240 19661241 Net revenues (loss) attributable to investors 19661242 19661243 20,917 19661244 19661246 19661247 (6,761 19661248 19661249 19661251 37,098 19661253 19661254 44,017 19661256 Post material Net Capital Spending 19661259 Our company believe net capital costs is a helpful procedure as it offers a sign of our main financial investment activities. 19459363 The most straight equivalent monetary procedure is money offered by (utilized in) investing activities. Net capital costs is computed as follows: 19661260 Short article material Post material 19661262 19459367 For the 3 months ended September 30, 19459367 For the 9 months ended September 30, 19661265 (Stated in countless Canadian dollars) 19661268 2026 19661270 2025 19661274 19661275 2026 19661277 19661280 2025 19661281 19661282 Capital costs by invest classification 19661283 19661285 19459367 19661287 19661288 19661289 19661290 Growth and upgrade 19661291 24,015 19661295 19661296 35,314 19661300 84,556 19661302 19661304 81,617 19661305 Upkeep and facilities 19661307 58,467 19661309 19661311 34,012 19661313 139,290 19661318 100,447 19661322 Capital expenditures 19661323 19661324 82,482 19661325 19661326 19661327 69,326 19661329 19661330 19661332 223,846 19661336 182,064 19661337 19661338 Earnings on sale of home, plant and devices (4,822 19661341 (6,200 19661347 19661348 (19,122 19661349 19661350 19661351 (21,794 19661353 Net capital costs 77,660 19661359 63,126 19661362 204,724 19661365 19661366 19661367 160,270 Earnings from sale of financial investments and other possessions 19661371 — 19661374 — 19661377 (400 19661382 19661383 — Purchase of financial investments and other properties 19661388– 19661392 10 19661393 698 19661399 19661400 21 19661402 Invoice of financing lease payments 19661404 (253 19661405 19661406 19661407 (209 19661410 19661411 19661412 (756 19661413 19661416 (626 19661418 Modifications in non-cash operating capital balances 1,332 19661421 19661422 (1,733 19661425 19661427 3,936 19661429 19661432 (5,220 19661434 Money utilized in investing activities 19661435 19661436 78,739 19661437 61,194 19661443 208,202 19661445 19661448 154,445 Short article material 19661451 Working Capital We specify working capital as existing possessions less present liabilities, as reported in our Condensed Interim Consolidated Statements of Financial Position. 19459363 Operating capital is determined as follows: Post material 19459347 September 30, 19661455 19661456 December 31, 19661458 (Stated in countless Canadian dollars) 19661459 19661460 2026 19661462 19661463 19661464 2025 19661466 Present possessions 19661467 19661468 502,632 19661469 19661470 19661471 486,915 19661474 Existing liabilities 19661475 (338,782 19661479 19661480 (300,100 19661482 Operating capital 163,850 19661488 186,815 19661490 Post material Overall Long-Term Financial Liabilities 19661492 We specify overall long-lasting monetary liabilities as overall non-current liabilities less deferred tax liabilities, as reported in our Condensed Interim Consolidated Statements of Financial Position. 19459363 Overall long-lasting monetary liabilities is computed as follows: Post material 19459367 September 30, 19661495 19661496 December 31, (Stated in countless Canadian dollars) 19661499 19661500 2026 19661503 2025 19661505 Overall non-current liabilities 19661507 814,605 19661510 19661512 837,707 Deferred tax liabilities 19661515 (116,127 19661517 19661518 19661519 19661520 (90,763 19661522 Overall long-lasting monetary liabilities 19661523 698,478 19661525 19661527 746,944 Short article material 19661531 19459347 Non-GAAP Ratios We reference specific extra Non-GAAP ratios that are not specified terms under IFRS to examine efficiency due to the fact that our company believe they supply helpful additional info to financiers. 19661533 Changed EBITDA % of Revenue 19661534 Our company believe Adjusted EBITDA as a portion of combined earnings, as reported in our Condensed Interim Consolidated Statements of Net Earnings (Loss), supplies a sign of our success from our primary company activities prior to factor to consider of how our activities are funded and the effect of forex, tax and devaluation and amortization charges. Long-lasting financial obligation to long-lasting financial obligation plus equity Our company believe that long-lasting financial obligation (as reported in our Condensed Interim Consolidated Statements of Financial Position) to long-lasting financial obligation plus equity (overall equity as reported in our Condensed Interim Consolidated Statements of Financial Position) supplies an indicator of our financial obligation take advantage of. 19661537 Net Debt to Adjusted EBITDA 19661538 Our company believe that the Net Debt (long-lasting financial obligation plus existing part of long-lasting financial obligation less money, as reported in our Condensed Interim Consolidated Statements of Financial Position) to Adjusted EBITDA ratio supplies an indicator of the variety of years it would consider us to repay our financial obligation responsibilities. 19661539 19661541 19459347 Supplementary Financial Measures 19661542 We reference specific supplemental monetary steps that are not specified terms under IFRS to examine efficiency due to the fact that our company believe they supply helpful additional info to financiers. 19661543 Capital Spending by Spend Category We offer extra disclosure to much better illustrate the nature of our capital costs. Our capital costs is classified as growth and upgrade or upkeep and facilities. 19661545 Short article material 19661546 Post material 19661547 Short article material CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION AND STATEMENTS 19661549 Post material Particular declarations consisted of in this press release, consisting of declarations which contain words such as “might”, “need to”, “can”, “expect”, “quote”, “plan”, “strategy”, “anticipate”, “think”, “will”, “might”, “continue”, “task”, “prospective” and comparable expressions and declarations associating with matters that are not historic truths make up “positive info” within the significance of suitable Canadian securities legislation and “positive declarations” within the significance of the “safe harbor” arrangements of the United States Private Securities Litigation Reform Act of 1995 (jointly, “positive info and declarations”). 19661551 Short article material In specific, positive info and declarations consist of, however are not restricted to, the following: Short article material 19459358 our 2026 tactical top priorities; 19661555 our capital investment, complimentary capital allowance and financial obligation decrease prepare for 2026 and beyond; 19661556 expected activity levels, need for our drilling rigs, day rates and everyday operating margins in 2026; the typical variety of term agreements in location for 2026; 19661558 consumer adoption of Alpha ™ innovations and EverGreen ™ suite of ecological options; and possible industrial chances and rig agreement renewals. 19661560 Short article material Post material These positive info and declarations are based upon specific presumptions and analysis made by Precision because of our experience and our understanding of historic patterns, existing conditions, anticipated future advancements and other aspects our company believe are suitable under the situations. These consist of, to name a few things: 19661563 Post material 19459358 our capability to respond to client budget as an outcome of modifications in oil and gas costs; the status of present settlements with our clients and suppliers; client concentrate on security efficiency; 19661567 existing term agreements are neither restored nor ended too soon; 19661568 ongoing market need for our drilling rigs; our capability to provide rigs to consumers on a prompt basis; 19661570 the effect of an increase/decrease in capital costs; the basic stability of the financial and political environments in the jurisdictions where we run in; and 19661572 expected rig usage, running margins, active rig counts and consumer activity levels. 19661573 Post material Excessive dependence needs to not be put on positive details and declarations. Whether real outcomes, efficiency or accomplishments will comply with our expectations and forecasts goes through a variety of recognized and unidentified dangers and unpredictabilities which might trigger real outcomes to vary materially from our expectations. Such threats and unpredictabilities consist of, however are not restricted to: Post material 19459358 volatility in the rate and need for oil and gas; 19661577 variations in the level of oil and gas expedition and advancement activities; changes in the need for agreement drilling, well servicing and secondary oilfield services; our consumers’ failure to acquire appropriate credit or funding to support their drilling and production activity; 19661580 modifications in drilling and well servicing innovation, which might minimize need for particular rigs or put us at a competitive downside; 19661581 lacks, hold-ups and disturbances in the shipment of devices materials and other crucial inputs; 19661582 liquidity of the capital markets to money consumer drilling programs; accessibility of capital, financial obligation and equity sources to money our capital and operating requirements, as required; 19661584 the physical, regulative and shift effects of environment modification; the effect of weather condition and seasonal conditions on operations and centers; 19661586 the effect of tariffs, trade disagreements, sanctions, export controls and other trade constraints; 19661587 competitive operating threats intrinsic in agreement drilling, well servicing and supplementary oilfield services; 19661588 geopolitical instability or armed disputes, consisting of in areas where we run might affect operations, workers, logistics, consumer activity and product markets; 19661589 capability to enhance our rig innovation to enhance drilling performance; 19661590 basic financial, market or organization conditions; 19661591 the accessibility of certified workers and management; 19661592 a decrease in our security efficiency which might lead to lower need for our services; the effect of inflation and supply chain disturbances; 19661594 service disturbances associated with cybersecurity threats; 19661595 modifications in laws or guidelines, consisting of modifications in ecological laws and policies such as improved guideline of hydraulic fracturing or limitations on the burning of nonrenewable fuel sources and greenhouse gas emissions, which might have a negative effect on the need for oil and gas; 19661596 terrorism, acts of war, social, civil and political discontent in the foreign jurisdictions or areas where we run; changes in forex, rates of interest and tax rates; and other unexpected conditions which might affect using services provided by Precision and Precision’s capability to react to such conditions. 19661599 Short article material Short article material Readers are warned that the foregoing list of threat aspects is not extensive. Extra info on these and other elements that might impact our company, operations or monetary outcomes is consisted of in reports on file with relevant securities regulative authorities, consisting of however not restricted to Precision’s Annual Information Form for the year ended December 31, 2025, which might be accessed on Precision’s SEDAR+ profile at or under Precision’s EDGAR profile. The positive details and declarations included in this press release are made since the date hereof and Precision carries out no commitment to upgrade openly or modify any positive declarations or info, whether as an outcome of brand-new details, future occasions or otherwise, other than as needed by law. Post material CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (UNAUDITED) 19661604 Post material 19661605 (Stated in countless Canadian dollars) 19661606 19459347 September 30, 2026 19661607 December 31, 2025 ASSETS 19661612 Present possessions: 19459367 19661616 19661617 19459367 19661618 Money 19661620 $ 23,177 19661622 19661624 $ 85,781 19661627 Accounts receivable 19661628 422,728 19661632 19661633 352,142 Stock 56,727 19661639 19661641 48,992 Overall existing properties 19661645 502,632 19661646 19661647 19661648 486,915 19661650 19661651 Non-current properties: 19661652 Deferred tax properties 19661656 19661657 4,127 19661658 19661659 19661661 2,235 Home, plant and devices 19661664 2,180,528 19661666 19661668 2,159,212 19661671 Intangibles 6,801 19661674 9,470 19661678 Right-of-use possessions 61,189 19661682 56,817 Financing lease receivables 19661688 19661689 3,865 19661692 19661693 4,474 Investments and other possessions 6,751 19661698 19661701 7,567 Overall non-current properties 19661704 2,263,261 19661708 2,239,775 19661711 Overall properties $ 2,765,893 19661714 $ 19661717 2,726,690 19661719 19661720 19661721 19661722 19661723 LIABILITIES AND EQUITY 19661725 19661726 19661727 Existing liabilities: 19459367 19661730 19459367 19661732 Accounts payable and accumulated liabilities 19661733 $ 317,788 19661737 $ 280,652 19661739 19661740 Earnings taxes payable 19661741 1,475 19661743 1,670 19661747 19661748 Present part of lease commitments 19661749 19661750 19,519 19661752 19661753 17,778 19661755 19661756 Overall present liabilities 19661758 338,782 19661762 300,100 19661763 19459367 19661766 19661768 Non-current liabilities: 19661769 19661770 19459367 Share-based payment 11,388 19661776 19661777 19661778 13,780 19661780 Arrangements and other 19661781 6,965 19661785 19661786 6,704 19661787 19661788 Lease commitments 51,009 19661793 47,169 Long-lasting financial obligation 629,116 19661799 19661802 679,291 Deferred tax liabilities 19661805 116,127 19661807 19661810 90,763 19661812 Overall non-current liabilities 814,605 19661817 837,707 19661820 Overall liabilities 1,153,387 19661824 19661825 19661826 1,137,807 19661827 19661828 Equity: 19661829 19661832 Investors’ capital 2,174,599 19661837 19661838 2,238,766 19661839 19661840 Contributed surplus 19661841 19661842 81,092 19661843 19661844 19661846 79,270 19661847 Built up other thorough earnings 189,696 19661851 19661852 165,020 19661855 Deficit 19661857 19661858 (838,090 19661859 19661860 19661861 19661862 (898,992 19661864 Overall equity attributable to investors 19661866 1,607,297 19661868 19661869 1,584,064 19661872 Non-controlling interest 5,209 19661875 19661877 4,819 19661880 Overall equity 19661881 1,612,506 19661883 19661884 1,588,883 19661888 Overall liabilities and equity $ 2,765,893 19661891 $ 19661894 2,726,690 19661895 Post material 19661897 Short article material 19661898 CONDENSED 19661899 INTERIM CONSOLIDATED STATEMENTS OF NET EARNINGS (LOSS) (UNAUDITED) 19661900 Post material 19661901 19459367 3 Months Ended September 30, 19661903 19459367 9 Months Ended September 30, 19661904 19661905 (Stated in countless Canadian dollars, other than per share quantities) 19459347 2026 2025 19661910 19459367 2026 19661912 2025 19661914 19459367 19661915 19459367 19661917 19661918 19459367 19661919 19661920 19661925 19661927 19661928 Income $ 19661932 531,652 19661933 19661934 $ 19661936 462,250 19661937 19661938 $ 1,510,503 19661941 $ 19661944 1,365,196 19661945 Costs: 19459367 19661949 19661950 19661953 19661954 Running 19661955 19661956 375,692 19661957 19661960 313,827 19661961 19661964 1,065,344 19661965 19661966 19661968 916,640 19661970 General and administrative 30,844 19661973 30,791 19661977 19661978 19661979 99,041 19661982 19661983 85,327 19661985 Revenues before earnings taxes, (gain) loss on financial investments and other possessions, financing charges, forex, gain on property disposals, and devaluation and amortization 19661988 125,116 19661989 19661990 19661992 117,632 19661994 19661995 346,118 19661998 19661999 363,229 19662002 Devaluation and amortization 82,586 79,487 19662010 19662011 249,594 19662016 229,381 Gain on possession disposals 19662019 (2,950 19662022 (3,454 19662025 19662028 (5,130 19662029 19662031 19662032 (12,751 19662033 19662034 Forex 19662035 19662036 246 19662038 19662039 19662040 717 1,031 19662045 19662048 (533 19662050 Financing charges 19662052 12,433 19662054 19662055 13,751 19662058 19662060 37,090 44,368 19662065 19662066 (Gain) loss on financial investments and other properties 120 19662070 (94 19662075 650 19662078 19662079 1,531 19662082 Revenues before earnings taxes 19662084 32,681 19662086 19662087 19662088 27,225 19662092 62,883 19662093 101,233 Earnings taxes: 19459367 19459367 19662102 19459367 19459367 19662105 19662106 Existing 894 1,133 19662113 19662114 19662115 2,292 19662117 19662118 19662119 19662120 3,307 Deferred 19662124 10,501 19662126 19662127 32,564 19662129 19662130 19662131 22,353 19662135 19662136 52,964 19662137 11,395 19662142 33,697 19662147 19662148 24,645 19662149 19662150 19662151 19662152 56,271 19662154 Net revenues (loss) 19662155 $ 21,286 19662159 $ (6,472 19662161 $ 38,238 19662166 19662167 $ 19662168 44,962 19662169 19662170 Attributable to: 19662171 19459367 19662173 19662178 Investors of Precision Drilling Corporation $ 20,917 19662181 $ (6,761 19662185 $ 19662188 37,098 $ 44,017 19662193 19662194 Non-controlling interest 19662195 $ 369 19662197 19662198 19662199 $ 19662200 289 19662201 19662203 $ 19662204 1,140 19662205 19662206 $ 945 19662209 Net revenues (loss) per share attributable to share-holders of Precision Drilling Corporation: 19459367 19662213 19662214 19662215 19459367 19662218 Standard $ 1.65 19662221 19662222 $ 19662224 (0.51 19662225 19662227 $ 2.89 19662230 19662231 $ 3.28 19662233 Watered down $ 1.65 $ 19662240 (0.51 19662242 19662243 $ 19662244 2.89 19662246 $ 19662248 3.09 Post material 19662251 Post material 19662252 CONDENSED INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Short article material 3 Months Ended September 30, 19662256 9 Months Ended September 30, 19662258 19662259 (Stated in countless Canadian dollars) 19662260 19459347 2026 2025 19662263 19459367 2026 19662266 2025 19662268 Net revenues (loss) 19662269 $ 21,286 19662271 19662272 $ 19662274 (6,472 19662276 $ 19662278 38,238 19662279 19662280 $ 44,962 19662283 19662284 Latent gain (loss) on translation of possessions and liabilities of operations denominated in foreign currency 19662285 4,409 19662287 19662288 19662289 30,777 19662291 19662293 47,572 19662297 19662298 (49,327 Forex gain (loss) on net financial investment hedge with U.S. denominated financial obligation (2,138 19662306 (14,715 19662308 19662309 (22,896 19662313 25,758 19662316 Extensive earnings $ 23,557 19662321 $ 19662322 9,590 19662323 19662324 19662325 $ 62,914 19662328 19662329 $ 19662330 21,393 19662332 Attributable to: 19662335 19662336 19459367 19662338 19459367 Investors of Precision Drilling Corporation 19662341 $ 23,188 19662343 $ 19662346 9,301 19662349 $ 61,774 19662351 19662353 $ 20,448 19662355 19662356 Non-controlling interest $ 369 $ 19662362 289 $ 19662366 1,140 19662368 $ 19662370 945 19662371 Short article material 19662373 Short article material CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 19662376 Post material 19459367 3 Months Ended September 30, 9 Months Ended September 30, 19662380 (Stated in countless Canadian dollars) 19662382 2026 19459367 2025 19662386 2026 2025 19662389 Money supplied by (utilized in): 19459367 19662392 19662395 19662397 19662398 Operations: 19662399 19662402 19662404 Net profits (loss) 19662407 $ 19662408 21,286 19662411 $ 19662412 (6,472 $ 19662416 38,238 19662417 19662419 $ 19662420 44,962 19662422 Changes for: 19662423 19662424 19459367 19662425 19662426 19459367 19662430 Long-lasting settlement strategies 19662431 4,579 19662435 5,608 16,379 19662441 11,998 19662445 19662446 Devaluation and amortization 19662447 82,586 19662451 19662452 79,487 19662453 19662454 249,594 19662457 19662458 19662459 19662460 229,381 Gain on property disposals (2,950 19662467 (3,454 19662471 19662472 (5,130 19662474 19662475 19662476 (12,751 19662477 Forex 19662480 (161 19662482 19662483 19662484 1,380 19662487 726 19662491 (1,034 19662493 Financing charges 19662495 19662496 12,433 19662498 19662499 19662500 13,751 19662501 19662502 19662503 37,090 19662506 44,368 19662510 Earnings taxes 19662511 19662512 11,395 19662515 33,697 19662517 19662518 24,645 19662521 19662522 19662523 19662524 56,271 19662525 19662526 Other 19662527 1 2 19662533 19662534 19662536 14 19662538 (19 19662541 19662542 (Gain) loss on financial investments and other possessions 120 19662545 19662547 19662548 (94 19662550 19662551 19662552 650 19662553 19662554 19662555 1,531 Earnings taxes paid (156 19662561 19662563 (593 19662565 19662566 19662568 (2,309 19662569 19662570 19662571 (4,760 Earnings taxes recuperated 19662575 39 5 19662581 19662583 19662584 39 19662585 19662588 5 Interest paid 19662591 19662592 (21,898 19662593 19662595 (26,987 19662597 19662598 19662600 (46,525 19662602 19662603 19662604 (60,245 19662606 Interest got 19662607 720 19662609 19662610 19662611 211 19662615 1,528 19662619 966 19662621 19662622 Funds offered by operations 19662623 19662624 107,994 19662626 19662627 96,541 314,939 19662633 19662634 19662636 310,673 Modifications in non-cash operating capital balances 19662639 (37,181 (20,672 19662645 19662646 19662647 (35,403 19662649 19662650 19662651 19662652 (23,890 19662653 Money supplied by operations 19662656 70,813 19662658 19662659 19662660 75,869 19662661 19662664 279,536 19662665 19662668 286,783 19662669 19459367 19662672 19662673 19459367 19662676 Investments: 19662679 19662680 19459367 19459367 19662683 19662684 19459367 19662686 Purchase of residential or commercial property, plant and devices 19662688 (82,482 19662690 (69,326 19662694 19662696 (223,846 19662697 19662698 19662699 19662700 (182,064 19662702 Earnings on sale of residential or commercial property, plant and devices 4,822 19662707 6,200 19662709 19662710 19662711 19662712 19,122 19662713 19662714 19662715 21,794 19662717 Earnings from sale of financial investments and other properties 19662719 — 19662723 — 19662726 400 — 19662733 19662734 Purchase of financial investments and other possessions 19662735 — 19662737 19662739 19662740 (10 19662741 19662742 (698 (21 19662750 Invoice of financing lease payments 253 19662753 209 19662757 19662760 756 19662761 19662764 626 19662765 Modifications in non-cash operating capital balances (1,332 1,733 19662774 (3,936 19662777 19662778 5,220 19662782 Money utilized in investing activities 19662783 (78,739 19662786 (61,194 19662789 19662791 19662792 (208,202 19662793 19662794 (154,445 19459367 19459367 19459367 19662804 19459367 19662805 Funding: 19459367 19662807 19459367 19662810 19459367 19662811 19662812 19459367 19662814 Issuance of long-lasting financial obligation 19662815 123,130 19662817 19662818 19662820 128,780 19662822 19662823 19662824 126,130 19662826 138,780 19662829 Payment of long-lasting financial obligation 19662831 (123,153 (138,475 19662837 19662838 19662839 19662840 (201,194 19662841 19662842 19662844 (239,439 19662845 Repurchase of share capital 19662847 (30,557 19662849 19662850 19662851 19662852 (8,802 19662853 19662855 (46,582 19662860 (54,058 19662861 19662862 Issuance of typical shares from the workout of choices 19662863 19662864– 19662865 19662867 19662868 208 19662869 19662871 195 19662874 19662875 208 Financial obligation modification costs — 19662881 19662883 19662884 (697 19662886 19662887 19662888– 19662890 19662891 19662892 (697 Circulations to non-controlling interest 19662895 19662896 (578 19662897 19662899 (831 19662901 19662903 (878 19662906 19662908 (831 19662910 Lease payments 19662911 19662912 (3,905 19662914 19662915 (3,854 19662917 19662919 (12,359 19662923 19662924 (11,363 19662925 19662926 Money utilized in funding activities 19662928 (35,063 19662931 (23,671 19662933 (134,688 19662937 19662939 (167,400 19662941 Impact of currency exchange rate modifications on money 19662943 19662944 (126 19662945 19662946 19662948 609 19662949 19662951 19662952 750 19662955 (398 19662957 19662958 Reduction in money 19662960 (43,115 19662961 19662962 19662963 19662964 (8,387 (62,604 19662970 (35,460 19662974 Money, start of duration 66,292 46,698 19662981 19662982 19662983 19662984 85,781 19662985 19662987 73,771 Money, end of duration 19662991 $ 19662992 23,177 19662994 19662995 $ 19662996 38,311 19662998 19662999 $ 19663000 23,177 19663002 $ 38,311 Post material 19663007 Short article material CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) Short article material 19663011 19459367 Attributable to investors of the Corporation 19663012 19663013 19459367 19663014 19459367 (Stated in countless 19663018 Canadian dollars) Investors’ 19459363 Capital Contributed Surplus 19663022 Built up 19459363 Other 19459363 Comprehensive 19459363 Earnings 19663024 19663025 19459367 Deficit 19663026 Overall 19459367 Non- 19459363 Managing Interest 19663030 19459367 Overall 19459363 Equity Balance at January 1, 2026 $ 2,238,766 19663036 $ 79,270 19663041 $ 165,020 19663045 $ 19663047 (898,992 19663050 $ 1,584,064 19663053 19663054 $ 19663055 4,819 19663056 19663057 19663058 $ 19663059 1,588,883 Net revenues for the duration 19663063– 19663067– 19663068 19663069 19663071– 19663074 37,098 19663076 19663077 19663079 37,098 19663080 1,140 19663085 38,238 19663089 Other detailed earnings for the duration 19663091– 19663093 19663094 19663095– 19663096 19663097 19663099 24,676 — 19663105 19663106 19663107 24,676 19663108 19663109 19663111– 19663115 24,676 19663116 Share choices worked out 19663118 19663119 279 (84 19663124 19663125 19663126 — 19663128 19663130 19663131– 19663133 195 19663136 19663137 19663138 19663139– 19663143 195 19663144 19663145 Settlement of Executive Performance and Restricted Share Units 4,095 19663148 19663150 19663151 (4,095 19663154 — 19663156 — — 19663164 19663165 19663166 — 19663169 19663170 — Circulations to Non-Controlling Interest 19663174 19663175– 19663176 19663178 — 19663180 19663181 19663182 19663183– 19663185 19663187– 19663188 19663189 19663190 19663191– 19663192 19663193 19663194 (750 19663196 19663198 (750 19663201 Share repurchases 19663202 19663203 (71,217 19663204 — 19663211– 19663212 19663213 19663214 19663215 23,804 19663216 19663217 (47,413 — 19663224 19663225 (47,413 19663228 19663229 Liability turnaround for automatic share purchase strategy 19663230 10,000 19663233 — 19663237 — 19663240 19663242 19663243– 19663246 19663247 10,000 — 19663252 10,000 19663256 Liability for automatic share purchase strategy 19663258 (8,000 19663260 19663261 — 19663264 19663267– 19663271– 19663273 19663274 19663275 (8,000 19663276 19663277 19663279– 19663282 19663283 (8,000 19663284 19663285 Redemption of non-management directors share systems 676 19663288 19663289 (676 19663292 — 19663297 — 19663300 19663302 — 19663305 19663307– 19663308 19663309 19663310 — 19663312 19663313 Share-based payment expenditure — 19663316 19663319 6,677 19663323– 19663324 19663325 19663327– 19663328 19663329 19663331 6,677 19663333 19663335– 19663336 19663338 6,677 19663341 Balance at September 30, 2026 19663342 $ 19663343 2,174,599 $ 19663347 81,092 19663348 $ 19663351 189,696 $ (838,090 19663358 $ 1,607,297 19663361 19663362 $ 5,209 19663365 $ 1,612,506 19663369 Post material Attributable to investors of the Corporation 19663371 19663372 19459367 19663373 (Stated in countless 19663377 Canadian dollars) Investors’ Capital 19459367 Contributed Surplus 19663381 19663382 Built up Other Comprehensive Earnings 19459367 Deficit 19459367 Overall 19663388 Non- 19459363 Managing Interest 19459367 Overall Equity 19663391 19663392 Balance at January 1, 2025 $ 2,301,729 19663396 $ 77,557 19663399 19663401 $ 199,020 19663403 19663405 $ 19663406 (900,834 19663407 19663408 $ 19663410 1,677,472 19663411 19663413 $ 4,527 19663417 $ 19663418 1,681,999 19663419 Net profits for the duration — 19663425 19663426– 19663427 — 19663431 19663432 19663433 44,017 19663435 19663437 44,017 945 19663443 19663444 19663445 44,962 19663447 Other detailed earnings for the duration — 19663454– 19663455 (23,569 19663459 — 19663464 19663465 19663466 (23,569 — 19663473 19663474 (23,569 19663475 Share choices worked out 19663478 299 19663479 (91 19663484 19663486– 19663488 — 19663491 19663493 208 19663495 19663496 19663498– 19663500 19663501 208 19663504 Settlement of Executive Performance and Restricted Share Units 11,651 19663507 19663508 19663510 (2,790 — 19663515 19663516 19663517 — 19663521 8,861 19663523 19663524 19663526– 19663527 19663528 19663530 8,861 19663532 Circulations to Non-Controlling Interest 19663534– 19663536 19663538– 19663539 19663540 19663541 19663542– 19663544 19663546– 19663547 19663548 19663549 19663550– 19663552 19663554 (831 19663556 19663557 19663558 (831 19663559 Share repurchases 19663562 (54,889 19663565 19663566– 19663568 19663569 19663570– 19663574– 19663575 19663576 19663577 19663578 (54,889 19663580 19663581 19663582– 19663585 (54,889 19663588 Liability turnaround for automatic share purchase strategy 19663589 10,000 — 19663595 19663597 19663598– 19663599 19663601 — 19663605 19663606 10,000 19663607 19663610– 19663612 19663613 19663614 10,000 Liability for automatic share purchase strategy 19663618 (5,000 — 19663623 19663625 — 19663627 19663629 19663630– 19663631 19663632 19663634 (5,000 19663635 — 19663639 19663642 (5,000 19663643 Redemption of non-management directors share systems 19663645 19663646 606 19663647 19663650 (606 19663652 — 19663655 — 19663662– 19663665 — 19663667 19663668 19663669 — 19663671 Share-based payment cost 19663673 — 19663676 5,521 19663680 19663681 — 19663683 19663686– 19663687 19663688 19663689 19663690 5,521 19663692 19663693 — 19663695 19663696 5,521 Balance at September 30, 2025 $ 2,264,396 19663703 19663705 $ 19663706 79,591 19663708 $ 19663710 175,451 19663712 19663713 $ 19663714 (856,817 19663715 19663717 $ 19663718 1,662,621 19663720 $ 19663722 4,641 19663725 $ 1,667,262 19663727 Short article material Short article material 2026 THIRD QUARTER RESULTS CONFERENCE CALL AND WEBCAST 19663731 Post material 19663732 Accuracy Drilling Corporation has actually set up a teleconference and webcast to start at 11:00 a.m. MT (1:00 p.m. ET) on Wednesday, October 28, 2026. 19663733 Post material To take part in the teleconference please register at the URL link listed below. When signed up, you will get a dial-in number and a special PIN, which will enable you to ask concerns. 19663735 Short article material 19663736 Short article material 19663737 The call will likewise be webcast and can be accessed through the link listed below. A replay of the webcast call will be readily available on Precision’s site up until the following quarterly teleconference is published. 19663738 Post material 19663739 Short article material About Precision 19663741 Short article material Accuracy is a leading company of safe and ecologically accountable 19459345 High Performance, High Value services to the energy market, providing consumers access to a comprehensive fleet of 19459345 Super Series 19459346 drilling rigs. Accuracy has actually advertised an industry-leading digital innovation portfolio called Alpha ™ that uses innovative automation software application and analytics to produce effective, foreseeable, and repeatable outcomes for energy consumers. Our drilling services are improved by our EverGreen ™ suite of ecological services, which boosts our dedication to minimizing the ecological effect of our operations. In addition, Precision provides well service rigs, camps and rental devices, all backed by an extensive mix of technical assistance services and proficient, knowledgeable workers. Short article material 19663744 Accuracy is headquartered in Calgary, Alberta, Canada and is noted on the Toronto Stock Exchange under the trading sign “PD” and on the New York Stock Exchange and NYSE Texas, Inc., under the trading sign “PDS”. 19663745 Post material 19663746 Extra Information Short article material For additional details, please contact: Short article material 19663750 Lavonne Zdunich, CPA, CA Vice President, Investor Relations 403.716.4500 Post material 800, 525– 8th Avenue S.W. Calgary, Alberta, Canada T2P 1G1 Site: 19459380 www.precisiondrilling.com 19663753 Post material 19663755 Short article material 19663756 Short article material Post material 19663759 Short article material Short article material