Ms. Lavonne Zdunich reports

PRECISION DRILLING CORPORATION ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR, VIRTUAL-ONLY ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS, AND 2023 ESG PERFORMANCE DATA

Precision Drilling Corp. has filed its management information circular issued in connection with the 2024 annual and special meeting of shareholders. A copy of the circular can be downloaded from the company's SEDAR+ profile and the company's EDGAR profile. The circular is also available on Precision's website.

Precision's annual meeting will be held on Thursday, May 16, 2024, at 10 a.m. Mountain Time, for holders of its common shares. The annual meeting will be held in a virtual-only meeting format. The virtual-only meeting format will provide all shareholders an equal opportunity to participate in the annual meeting regardless of their geographic location. Please see below and the circular for details and instructions on participating and voting at the annual meeting.

The annual meeting will be available by logging in on-line. As detailed in the circular, registered shareholders are entitled to participate in the annual meeting if they held their common shares as of the close of business on March 27, 2024, the record date. Non-registered (beneficial) shareholders who wish to vote at the annual meeting will be required to appoint themselves as proxyholders in advance of the annual meeting by writing their own name in the space provided on the voting instruction form provided by their intermediary, generally being a bank, trust company, securities broker, trustee or other institution. Registered shareholders and duly appointed proxyholders who participate in the annual meeting on-line will be able to listen to the annual meeting, ask questions and vote, all in real time, provided that they are connected to the Internet. Guests can listen to the annual meeting but will not be able to communicate or vote. In all cases, shareholders must follow the instructions set out in their applicable proxy or voting instruction forms. If you have questions regarding your ability to participate or vote at the annual meeting, please contact Computershare at 1-800-564-6253.

Precision has released its 2023 environmental, social and governance performance data, which align with the Sustainability Accounting Standards Board, Task Force on Climate-related Financial Disclosures and Global Reporting Initiative frameworks. As a reminder, Precision consistently provides updates on its extensive ESG initiatives on the company's website.

About Precision Drilling Corp.

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 that utilizes advanced automation software and analytics to generate efficient, predictable and repeatable results for energy customers. Its drilling services are enhanced by its EverGreen suite of environmental solutions, which bolsters its commitment to reducing the environmental impact of its 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, Alta., 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.