Precision Drilling Corporation announced that it has successfully extended its Senior Credit Facility and with strong cash flow generation during the first half of the year, it is well on track to meet its 2024 debt reduction. Senior Credit Facility Extension: On June 28, 2024, Precision extended its Senior Credit Facility?s maturity date, revised the available borrowing capacity, and amended certain terms. The maturity date was extended to June 28, 2027, and the size was revised to USD 375 million (previously USD 447 million), which includes an accordion feature to increase the facility to USD 750 million. 2024 Debt Repayment Progress: Since the beginning of the year, Precision has reduced debt by $103 million, marking significant progress toward its 2024 debt reduction target of $150 million to $200 million.

Second quarter debt repayments included the redemption of USD 56 million of 2026 unsecured senior notes and the repayment of $25 million of real estate credit facilities that were due in 2026 and 2028. As at June 30, 2024, Precision?s outstanding debt obligations include: USD 217 million ? 7.125% unsecured senior notes due January 15, 2026; USD 400 million ?

6.875% unsecured senior notes due January 15, 2029; USD 8 million real estate credit facility due in 2025.