Precision Drilling Corporation Announces Voting Results from the 2024 Annual and Special Meeting of Shareholders

Rhea-AI Summary

Precision Drilling announced the results of its 2024 Annual and Special Meeting of Shareholders held on May 16, 2024. Shareholders approved all eight nominee directors, with seven being independent. Notable approvals include Kevin A. Neveu with 99.04% and William T. Donovan with 98.58% votes in favor. Additionally, Alice L. Wong, with over 35 years of experience in the nuclear fuel industry, was welcomed to the Board. All other agenda items, including the non-binding advisory vote on executive compensation, passed. Michael R. Culbert retired after serving since 2017.

Positive

• All eight nominee directors were elected, ensuring board stability.
• Kevin A. Neveu received 99.04% votes in favor, indicating strong shareholder support.
• Alice L. Wong, with over 35 years of industry experience, joined the Board, potentially bringing valuable insights.
• All other business items, including executive compensation approach, were approved.

Negative

• Steven W. Krablin received only 91.54% votes in favor, indicating some shareholder dissent.

CALGARY, Alberta, May 16, 2024 (GLOBE NEWSWIRE) -- Precision Drilling Corporation (Precision or the Company) is pleased to announce the results of the election of board members at its 2024 Annual and Special Meeting of Shareholders held on May 16, 2024 (the Annual Meeting). Shareholders approved the election of all eight (seven of whom are independent) of the nominee directors presented in the Company’s Management Information Circular (the Circular), dated April 3, 2024.

The shares represented at the Annual Meeting voting in favour of individual nominee directors are as follows:

Nominee	# Votes For	% Votes For	# Votes Withheld	% Votes Withheld
William T. Donovan	7,926,016	98.58	114,578	1.42
Steven W. Krablin	7,360,243	91.54	680,351	8.46
Lori A. Lancaster	7,924,950	98.56	115,644	1.44
Susan M. MacKenzie	7,901,897	98.28	138,697	1.72
Kevin O. Meyers	7,452,216	92.68	588,378	7.32
David W. Williams	7,944,654	98.81	95,940	1.19
Alice L. Wong	7,529,780	93.65	510,814	6.35
Kevin A. Neveu	7,963,039	99.04	77,555	0.96

All other items of business set forth in the Circular and considered at the Annual Meeting passed, including the non-binding advisory vote on the Corporation’s approach to executive compensation.

Michael R. Culbert has decided to retire from our Board after serving as a director since 2017. We thank Mr. Culbert for his dedicated service and many contributions as a director through the years. We are also pleased to welcome Alice L. Wong to serve on the Company’s Board of Directors. Alice has over 35 years of diverse experience in the nuclear fuel industry and currently serves as Senior Vice President and Chief Corporate Officer at Cameco. She brings a wealth of experience and knowledge that will enhance Precision’s existing Board.

The full results on all matters voted upon at the Annual Meeting will be filed on SEDAR (www.sedarplus.ca) and EDGAR (www.sec.gov).

About Precision

Precision is a leading provider of safe and environmentally responsible High Performance, High Value services to the energy industry, offering customers access to an extensive fleet of Super Series drilling rigs. Precision has commercialized an industry-leading digital technology portfolio known as Alpha^TM that utilizes advanced automation software and analytics to generate efficient, predictable, and repeatable results for energy customers. Our drilling services are enhanced by our EverGreen^TM suite of environmental solutions, which bolsters our commitment to reducing the environmental impact of our operations. Additionally, Precision offers well service rigs, camps and rental equipment all backed by a comprehensive mix of technical support services and skilled, experienced personnel.

Precision is headquartered in Calgary, Alberta, Canada and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”.

Additional Information

For more information about Precision, please visit our website at www.precisiondrilling.com or contact:

Lavonne Zdunich, CPA, CA
Vice President, Investor Relations
403.716.4500

800, 525 - 8th Avenue S.W.
Calgary, Alberta, Canada T2P 1G1
Website: www.precisiondrilling.com

FAQ

What were the results of the 2024 Annual and Special Meeting of Shareholders for Precision Drilling (PDS)?

Shareholders approved all eight nominee directors, including seven independents, with notable approvals for Kevin A. Neveu (99.04%) and William T. Donovan (98.58%). All other business items, including the executive compensation approach, passed.

Who is the new board member elected at Precision Drilling's (PDS) 2024 Annual Meeting?

Alice L. Wong, with over 35 years of experience in the nuclear fuel industry, was elected to the Board.

What percentage of votes did Kevin A. Neveu receive at Precision Drilling's (PDS) 2024 Annual Meeting?

Kevin A. Neveu received 99.04% votes in favor.

Which Precision Drilling (PDS) board member retired in 2024?

Michael R. Culbert retired from the Board after serving since 2017.

Were all business items approved at Precision Drilling's (PDS) 2024 Annual Meeting?

Yes, all business items, including the executive compensation approach, were approved.