Aaron MacNeil

Waqar Syed

John Daniel

John Gibson

Keith MacKey

Kurt Hallead

Aaron Rosenthal

Derek Podhaizer

James Kubik

Luke Lemoine

Sean Mitchell

- Precision Drilling Corporation entered into a **First Amending Agreement** to its Second Amended and Restated Credit Agreement on **August 7, 2025**.  **[1013605_0001171843-25-005961_exh_991.htm:0]** 
- The **Operating Facility Maturity Date** has been extended to **October 31, 2028**.  **[1013605_0001171843-25-005961_exh_991.htm:1]** 
- The **Syndicated Facility Maturity Date** has also been extended to **October 31, 2028** for most lenders, while for Business Development Bank of Canada and Zions Bancorporation N.A. dba Amegy Bank, it remains **June 28, 2027**.  **[1013605_0001171843-25-005961_exh_991.htm:1]** 
- The agreement amends the "Applicable Margin" pricing table and introduces new conditions for the **fall-away of security**, requiring corporate family ratings of at least **BBB-** from at least two rating agencies for collateral release.  **[1013605_0001171843-25-005961_exh_991.htm:1]** **[1013605_0001171843-25-005961_exh_991.htm:2]**

Precision Drilling Corporation Amends Credit Agreement, Extending Maturity Dates

- Precision Drilling's new Normal Course Issuer Bid (NCIB) has been approved by the TSX, allowing the company to acquire up to **1,251,850** Common Shares, representing approximately **10%** of its public float as of September 5, 2025.  **[1013605_a6ab341976624cb69531eaada6e3fd0d_0]** 
- The new NCIB is scheduled to commence on **September 19, 2025**, and will terminate no later than **September 18, 2026**.  **[1013605_a6ab341976624cb69531eaada6e3fd0d_0]** 
- Under its prior NCIB, which ran from September 19, 2024, to September 18, 2025, Precision had purchased **1,046,370** Common Shares at a weighted average price of **CAD$74.73** per share through September 5, 2025.  **[1013605_a6ab341976624cb69531eaada6e3fd0d_0]** 
- The company believes the NCIB is a tool to enhance the value of its underlying shares and intends to fund purchases from available resources.  **[1013605_a6ab341976624cb69531eaada6e3fd0d_0]** 
- Precision plans to enter into an automatic securities purchase plan effective September 19, 2025, to facilitate share repurchases during periods when they would otherwise be restricted.  **[1013605_a6ab341976624cb69531eaada6e3fd0d_1]**

Precision Drilling Announces New Normal Course Issuer Bid

- Precision Drilling Corporation announced the renewal of its Normal Course Issuer Bid (NCIB), authorized by the TSX, to acquire up to **1,251,850 Common Shares**, representing approximately **10%** of its public float as of September 5, 2025.  **[1013605_0001171843-25-005855_exh_991.htm:0]** 
- The renewed NCIB may commence on **September 19, 2025**, and will terminate no later than **September 18, 2026**.  **[1013605_0001171843-25-005855_exh_991.htm:0]** 
- Under its prior NCIB, Precision Drilling purchased **1,046,370 Common Shares** at a weighted average price of **CAD$74.73** per share through September 5, 2025.  **[1013605_0001171843-25-005855_exh_991.htm:0]**

Precision Drilling Renews Normal Course Issuer Bid

PRECISION DRILLING (PDS)