ESG Webpage - CR Report Duplicate for Mobile and tablet editing

President and Chief Executive Officer

2022 ESG Performance Metric Tables

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reducing ecological impact

Since 1995, we have been reducing the physical footprint and overall surface impact required to operate our rigs.

waste management

All manufacturing, maintenance, and operations waste is segregated, categorized, and handled in compliance with local and federal requirements.

Analysis shows that the world's demand for hydrocarbon energy and feedstocks will continue growing in the coming years due to current policies and commitments to reduce emissions.

climate strategy

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water neutrality

Our facilities are equipped with water-saving fixtures to reduce water usage, and we are dedicated to helping our customers improve their water consumption whenever possible.

eco-Friendly offices, shops & vehicle fleet

Our Corporate Responsibility Council and Board of Directors regularly review material risks to the company, which are categorized and addressed through actions aligned with our climate strategy.

Climate risk management

The world needs secure, reliable, and affordable energy, and Precision plays a vital role in helping our customers develop energy resources responsibly. We focus on increasing operational efficiency, reducing energy costs, and minimizing environmental impact.

environment

Emission footprint

We gather and track GHG emissions from both direct and indirect sources. Our methodology tracks emissions generated by our facilities and fleet vehicles and those produced during drilling and well-servicing operations for our customers.

reducing ecological impact

Since 1995, we have been reducing the physical footprint and overall surface impact required to operate our rigs. Our current fleet, which we have modified to increase worksite flexibility for our customers, is among the most efficient in the industry. These optimization capabilities significantly reduce the amount of heavy equipment needed, resulting in fewer truckloads and associated emissions for our customers and third-party partners.

All manufacturing, maintenance, and operations waste is segregated, categorized, and handled in compliance with local and federal requirements. We utilize certified third-party companies to assist with our waste and recycling streams and to help repurpose or recycle by-product materials.

waste management

Our focus on spill prevention and control focuses is paramount at our facilities and customer locations. We maintain strict operating standards and keep our equipment in top condition through periodic inspections and preventive maintenance. If a spill occurs, our employees are trained to respond quickly and appropriately according to regulatory requirements and industry best practices.

spill prevention and control

Our facilities are equipped with water-saving fixtures to reduce water usage, and we are dedicated to helping our customers improve their water consumption whenever possible. We reuse or recycle wastewater when it is feasible, including the use of treated wastewater for irrigation purposes at our Wafra, Kuwait location.

WATER NEUTRALITY

We have direct control over reducing waste and energy consumption in our offices, shops, and fleet. Our corporate offices in both Houston and Calgary are LEED Certified facilities with waste segregation and recycling programs. To reduce electricity consumption, we install high-efficiency LED lighting in key Precision facilities. Our light and medium-duty vehicle fleet is properly maintained to operate as efficiently as possible. We also reduce corporate and field travel by utilizing videoconferencing and state of the art virtual application and equipment troubleshooting methods.

ECO-fRIENDLY oFFICES, sHOPS, & FLEET

“Transitional Risks” require that our services be performed with increasingly reduced GHG emissions.

Potential business impacts and implemented mitigation plans are captured in our Enterprise Risk Management (ERM) program, and specific climate-related risks are detailed in our Annual Information Form (AIF).

“Physical Risks” impact our ability to execute services through extreme weather, flooding, and other physical environmental conditions.

Our Corporate Responsibility Council and Board of Directors regularly review material risks to the company, which are categorized and addressed through actions aligned with our climate strategy.

Climate risk management

Over 96% of Precision’s emissions occur while performing services under the operational control of our customers. As a technology leader in the drilling sector, we offer lower GHG emission power systems and equipment to help our customers quantify and reduce their operationally controlled upstream emissions. By understanding their priorities and targets, we are able to provide significant gains through our EverGreen™ suite of environmental solutions and our Alpha™ suite of technologies.

We are committed to achieving net zero emissions. Through our detailed emissions tracking, we identify the most impactful opportunities to reduce emissions associated with our directly controlled operations. Moreover, Precision set technology implementation goals to help our customers achieve additional emissions reductions. Detailed emissions information can be found in our 2022 ESG Performance Metrics.

Emissions resulting from combustion of fuel sources or purchased electricity used while providing services under the operation control of the customer. This includes most drilling and service rig activities while under the operational control of our customer (customer Scope 1 emissions).

Emissions From Services Provided

Emissions from the generation of purchased electricity or other energy sources (not combusted) utilized at company or controlled facilities and operations.

Scope 2: Indirect GHG Emissions

Sources that are owned or controlled by the company. Examples include emissions from combustion of fuels at operationally controlled facilities and activities, in company operated and controlled vehicles, and from process equipment operationally controlled by the company.

Scope 1: Direct GHG Emissions

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SUITE OF ENVIRONMENTAL SOLUTIONS

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SUITE OF TECHNOLOGIES

Exploratory Grid-Powered Rig: Precision deployed an EverGreen™ grid-powered rig to drill an exploratory well as part of Cornell University’s Earth Source Heat project. This geothermal system will use the Earth’s internal heat to warm the Ithaca campus in an effort to achieve carbon neutrality. By utilizing power directly from the grid, emissions from the rig were significantly reduced and noise levels were minimized in sensitive areas.

ALTERNATIVE ENERGY

Solar Power Plant in modern city in sunset,Sustainable Renewable Energy

Passionate people are our greatest asset. We believe our work environment brings out the best in each of us and we proudly support the communities where we operate.

social

We are committed to providing a diverse, collaborative culture where employees feel respected, satisfied, appreciated, and empowered to affect change. We regularly conduct engagement surveys and focus groups to identify key focus areas to continue growing Precision’s positive culture and community impact. The results from these efforts improve our policies and activities to ensure Precision is a leader in developing a thriving and inclusive workplace.

OUR CORPORATE CULTURE

Different Ethnicities

39%

Different Nationalities

Diversity, Equity, & Inclusion Highlights

The Human Resources department reviews the structure, size, pay equity and composition for our workforce annually and prepares a report for the Chief Administrative Officer and the Chief Executive Officer. Similarly, the executive leadership team meets regularly to assess its optimum composition and annually provides a report to the CGNRC.

REPORTING & ACCOUNTABILITY

Overview Board Diversity Reporting & Accountability 2022 Recruiting Highlights

When recruiting new directors, the Corporate Governance, Nominating and Risk Committee (CGNRC) considers our vision and business strategy, the skills and competencies of the current directors, gaps in Board skills, and the attributes, knowledge and experience new directors should have to best enhance our business plan and strategies. The CGNRC also considers diversity as part of this process, including the level of female representation on the Board. When assessing Board composition or identifying suitable candidates for appointment to the Board, the CGNRC will include a slate of minority candidates for all Board seats.

BOARD DIVERSITY

Overview Board Diversity Reporting & Accountability 2022 Recruiting Highlights

Diversity, Equity, & Inclusion

Overview Board Diversity Reporting & Accountability 2022 Recruiting Highlights

As a company with global operations, we focus on fostering a diverse and inclusive team to leverage multiple perspectives and ideas. We celebrate the uniqueness of each employee and treat everyone with respect, fairness, and dignity.

To promote diversity, equity, and inclusion among our employees, management team, and Board, we continue to review and update our policies annually, measuring compliance and progress to develop new initiatives.

Employee Diversity & Policies The diversity of our workforce makes our teams more innovative and promotes a culture of fairness and equality for all employees. We aim to create a workplace free from discrimination and encourage all individuals who meet the criteria to apply for all positions.

1,300

2022 RECRUITING HIGHLIGHTS

Overview Board Diversity Reporting & Accountability 2022 Recruiting Highlights

NEW EMPLOYEES ONBOARDED

DIFFERENT NATIONALITIES

FEMALE CORPORATE NEW HIRES

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scholarship program

We recognize the value of post-secondary education and vocational schools that play a crucial role in supporting the education and professional development of our future leaders.

student internship program

Our program serves as an essential talent pool for future hires while providing participants with practical experience and an excellent introduction to the energy industry.

Our dedication to the energy sector is reinforced through our involvement in various professional organizations around the globe.

industry engagement

indigenous relationships

We recognize the history and diversity of Indigenous groups along with the relationships, rights and values of Indigenous communities.

Community Volunteer work

We strive to foster a more purpose-driven and engaged workforce by encouraging employees to participate in company-sponsored volunteer opportunities.

Our collaboration with a number of organizations across North America highlights our commitment to social responsibility and uplifting the communities where we operate.

community partnerships

We are proud to invest in causes and efforts important to our employees, customers, and the communities where we operate.

precision in the community

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EMPLOYEE VOLUNTEER HOURS

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COMMITTED TO NOT FOR PROFITS iN 2022

We recognize the value of post-secondary education and vocational schools. Through partnerships with various institutions and scholarship programs, Precision remains committed to investing in our communities and supporting the development of the oilfield services industry’s future workforce.

scholarship program

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Student internships

For years, we have promoted Canada as a leading economic partner and responsible energy supplier to the world through our support of the Modern Miracle Network, and our partnership with the Fraser Institute continues to influence Canadian social policy and government accountability.

INDUSTRY ENGAGEMENT

Indigenous engagement is a crucial step in the future of our business and continues to expand every day. We continue building strong relationships based on a foundation of trust and we are committed to investing our time and resources to ensure that our partners throughout the respective communities are included in activities that may impact them.

indigenous relationships

Autism Speaks

community volunteer work

Other partnerships include the Heritage Park Society of Calgary’s “Keeping Alberta’s Story Alive” Natural Resources Project and the Heart and Stroke Foundation of Canada’s Jump-Rope-For-Heart program.

For more than 20 years, one of our most cherished partnerships has been with Canada’s STARS Foundation. STARS provides rapid emergency care and transport for critically ill patients, supporting remote field operations for our employees and their families living across Western Canada.

Community partnerships

Canadian Blood Services

Even Start Children's Foundation

Inn from the Cold

Habitat for Humanity

We strive to foster a more purpose-driven and engaged workforce by encouraging employees to participate in company-sponsored volunteer opportunities with organizations such as:

Alberta Cancer Foundation

Precision believes that continued collaboration with Indigenous partners throughout the communities and lands where we work is essential to our collective success. Our goal is to ensure a lasting positive impact that leads to mutually beneficial ventures.

We recognize the history and diversity of Indigenous groups along with the relationships, rights and values of Indigenous communities. Our engagement throughout Western Canada with First Nations has led to strategic relationships varying from joint equity ownership in oilfield services assets, marketing alliances, employment initiatives, and volunteer opportunities, resulting in significant support for Indigenous communities.

Our President of North American Drilling, Gene Stahl, serves on both the board and executive committee of IADC. Senior Vice President of Global Operations Excellence, Ross Pickering, previously served as Chairman of CAOEC and is currently its longest-standing board member. Mr. Pickering has also sat on the board of Energy Safety Canada.

Our commitment to the energy industry is strengthened by our participation in the Canadian Association of Energy Contractors (CAOEC), the International Association of Drilling Contractors (IADC), the Modern Miracle Network, Energy Safety Canada, and the Fraser Institute.

Our summer internship program serves as an essential talent pool for future hires while providing participants with practical experience and an excellent introduction to the energy industry.

Investing our resources in the training and development of every employee is critical to our success. In 2022 we remained focused on Serious Injuries and Fatalities (SIF), allocating time toward learning and putting mitigation plans in place to prevent serious outcomes. Our journey to Zero SIF injuries continues with education and cohesion on understanding risks and controls at all levels of the organization.

investing in our people

CRISIS & EMERGENCY PREPAREDNESS

Our Crisis Management Team navigates challenges with minimal impact on our employees and operations. We continue improving our Crisis Management Plan to enhance technical response and broaden communication between teams. Within our operations teams, crews performed over 25,000 emergency response drills in 2022 to ensure readiness to respond quickly and correctly to an emergency.

CYBERSECURITY

Precision’s investments in cybersecurity include solutions for identity management, role-based access control, multi-factor authentication, endpoint protection, and AI-enabled threat detection and incident response. We remain focused on Operation Technology (OT) and Industrial Control System (ICS) security through intrusion detection and prevention systems (IDS/IPS) and continuous vulnerability scanning.

FIELD TRAINING & DEVELOPMENT

At Precision, we deliver a state-of-the-art training program, along with our internal talent development programs. Our world-class crew of Short Service Employees (SSE) is taken through 16 hours of orientation followed by six months of formal on-the-job training with an experienced mentor. Field employees receive annual and job-specific training to provide a continuous assessment of their capabilities and safety performance. Our Field Coaches assess competencies and provide additional expert support to rig crews while recognizing high performers and validating our training efforts. President and CEO, Kevin Neveu, kicks off our annual Code of Business Conduct and Ethics training for all employees and Board members.

HSE MANAGEMENT SYSTEM

Our leading-edge Health, Safety, and Environmental (HSE) Management System assesses risk in our daily operations. The consistent and effective execution of our HSE fundamentals remains the primary focus of our operations employees to prevent and mitigate SIF events. We refined our Safe Operations Verification (SOV) process to incorporate our extensive hazard identification and control measures into the way our employees work. Our SOV tool provides a consistent field approach to planning, verifying, and reviewing tasks. The review portion allows for learning and executing improvement recommendations to enhance our HSE Management System.

HSE MANAGEMENT SYSTEM

FIELD TRAINING & DEVELOPMENT

CYBERSECURITY

CRISIS & EMERGENCY PREPAREDNESS

Our security framework and policies align with the National Institute of Standards and Technology (NIST) and Center for Internet Security (CIS) controls guidance. We review our standards and procedures annually, provide employee training, and conduct ongoing security awareness and phishing exercises across the organization. Employees performing roles requiring higher security clearance take additional training.

To date, we have not experienced a material cybersecurity breach resulting in a successful ransomware attack or information exfiltration, nor incurred any third-party incident response costs.

Exceptional corporate governance is essential to our operational strategy. We are proud of the ethics and integrity instilled in our corporate culture, as well as our independent board structure, transparent communications, and investors’ access to management.

GOVERNANCE

corporate responsibility

EXPLORE

enterprise risk management

supply chain management

Precision employs a comprehensive Enterprise Risk Management (ERM) program that proactively assesses material risks and manages mitigation. The Board actively oversees all risk-related matters, including the Company’s internal Risk Matrix and quarterly updates from its internal Risk Committee. The Board regularly reviews significant ESG-related risks, such as those associated with a transition to lower-carbon energy sources. Precision’s senior management team is primarily responsible for monitoring all macro, organizational, and sustainability-related risks on a frequent basis. The ERM process is led by Chief Legal and Compliance Officer and supported by Precision’s Risk Committee composed of the entire leadership team. The Risk Committee ensures that all material risks and compounding effects are identified using an internally developed Risk Matrix and that proper mitigation strategies are fully implemented. The Board regularly reviews significant ESG-related risks.

enterprise risk management

Our Supply Chain provides essential support to business operations and extends our commitment to sustainability beyond our doorstep. To manage our supply chain and foster valued partnerships, Precision focuses on creating economic opportunities in the communities where we operate and encouraging partners to meet high performance standards.

supply chain management

Corporate Female Employees

2022 ESG Highlights

Kilometers Drilled

10,800+

EQUIPPED SUPER SERIES RIGS

NATURAL GAS CAPABLE RIGS

EMPLOYEES

TARGET ZERO DAYS

5,300+

347

All days free of reportable spills, serious injuries, and fatalities

esg in all we do

Battery Energy Storage System

Smart battery bank purposed to handle large transient rig loads from generators.

LED Rig Lighting

Designed to reduce industry emissions by displacing conventional standalone diesel-powered light towers.

We work proactively to ensure our workforce and Board understands their ethical and compliance obligations. Our corporate policies and the Code guide the Precision team in meeting responsibilities to our shareholders, government and regulatory authorities, business partners, and each other.

internal policies

ETHICS & INTEGRITY

GOVERNANCE APPROACH

ETHICS & INTEGRITY

"Ethical behavior is fundamental to the way we do business."

Our Code of Business Conduct and Ethics (the Code) addresses financial reporting and accountability, confidentiality, data security, bribery, corruption, harassment and discrimination, among other key areas. It sets expectations for our entire organization and ensures every team member and contractor represents Precision’s values. Over 4,160 employees participated in our Code of Business Conduct and Ethics training in 2022. Precision’s robust, proven corporate governance system ensures a transparent culture. We have a strong body of policies, enforcement procedures, and closed-loop resolution process, enabling ethical issues to be reported, assessed, and resolved in a timely manner. The Board, its Audit Committee, and our external and internal auditors provide oversight and ensure compliance throughout our organization.

GOVERNANCE APPROACH

"We believe that independent oversight is essential to effective governance."

We believe that independent oversight is essential to effective governance. The Board has three stand-alone committees, and our directors meet regularly for scheduled executive sessions without the CEO present. Our Board has full and exclusive power to manage Precision’s business and affairs, subject to the rights of our shareholders. Directors are elected annually by shareholders for a one-year term or appointed by the Board to hold office until the next annual meeting.

SEE CASE STUDY

avoiding conflicts of interest

Any conflicts are subject to the procedures and remedies outlined under the Business Corporations Act (Alberta).

We recognize the importance of having effective privacy protections and are committed to complying with privacy laws and regulations in our various jurisdictions, supplemented by our internal policies and standards.

Our Insider Trading Policy applies to all directors, executive officers, managers and employees and is reviewed annually.

insider trading policy

clawback policy

Our Clawback Policy entitles us, under certain circumstances, to recoup some or all incentive compensation awarded or paid to senior leadership, including our CEO, both past and present

anti-bribery and anti-corruption policy

Precision’s Anti-Bribery and Anti-Corruption policy sets standards for detecting and preventing corruption.

Precision respects the fundamental value of Human Rights and we promote it within our organization and in our interactions with partners all over the world.

human rights within our organization

PD EthicsLine

The platform is available for anyone within or outside of Precision to report suspected illegal or unethical conduct or breach of our policies confidentially and anonymously.

Precision is politically neutral and does not engage in political activities, make political contributions, or use company funds or assets for political purposes.

public policy and lobbying

PD EthicsLine is a third-party, independently operated ethics reporting platform. The platform is available for anyone within or outside of Precision to report suspected illegal or unethical conduct or breach of our policies confidentially and anonymously.

pd ethicsline

Precision is committed to protecting the privacy and security of all collected personal information. We recognize the importance of having effective privacy protections and are committed to complying with privacy laws and regulations in our various jurisdictions, supplemented by our internal policies and standards.

Prohibits “tipping” or the purchase or sale of Precision shares while in possession of undisclosed material information.

Sets out our obligations to stock exchanges, regulators, and investors.

Our Insider Trading Policy applies to all directors, executive officers, managers and employees. Reviewed annually by the CGNRC, the policy:

Insider Trading

Our financial statements were restated for a fiscal year or quarter when they were with Precision.

We hold our senior leadership team accountable for their decisions. Our compensation plan aligns Precision’s best interests with any consequences stemming from our policies, employment agreements and incentive plans. Our Clawback Policy entitles us to recoup some or all incentive compensation awarded or paid to senior leadership, including our CEO, both past and present, if:

Clawback policy

We operate in some countries that rank low on Transparency International’s Corruption Perception Index. Precision’s Anti-Bribery and Anti-Corruption policy sets standards for detecting and preventing corruption. Our Compliance Department provides mandatory, comprehensive training annually on bribery and corruption, and also monitors intermediaries through internal review and third-party assistance. Our due diligence procedures generate a risk score, database, and recommendations.

anti-bribery and anti-corruption policy

Precision respects the fundamental value of Human Rights and we promote it within our organization and in our interactions with partners all over the world. Our policies aim to help identify and prevent any threats to Human Rights and ensure fair, impartial remediation in the case of breaches. Our Compliance Department oversees the execution and maintenance of our Human Rights policy detailed in the Code.

human rights

From time to time, directors may face potential conflicts of interest related to our business. Any conflicts are subject to the procedures and remedies outlined under the Business Corporations Act (Alberta). Directors in a conflict of interest must advise the Chairman of the Board and abstain from participating in discussions and voting on the matter or excuse themselves from the meeting.

avoiding conflicts of interest

Precision is politically neutral and does not engage in political activities, make political contributions, or use company funds or assets for political purposes. We are active members of associations that lobby on behalf of the oil and natural gas industry and allow lobbying on behalf of our interests, in accordance with all federal and provincial regulations as approved by the CEO.

public policy and lobbying

"Environment, social, and governance (ESG) are fundamental to Precision’s High Performance, High Value business strategy. Precision’s foundation was shaped by our commitment to operate with the highest ethical standards and maintain the highest priority on the health, safety and diversity of our workforce, and the protection of the environment and the communities where we operate. Our ESG leadership drives market share gains and enhances profitability for our business as customers value our solution-oriented approach to supporting their sustainability initiatives."

Kevin Neveu,

2022 accomplishments

EverGreen Lower-Carbon Power Systems and Technologies Deployed

emission reduction technology

We recognize the importance and necessity of a global energy transition, and we are highly motivated to execute our vital role in the energy value chain with the lowest possible environment impact. Click on our interactive wellsite below to learn more about our emission reduction technologies through our EverGreen™ suite of environmental solutions.

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reducing ecological impact

Since 1995, we have been reducing the physical footprint and overall surface impact required to operate our rigs.

waste management

All manufacturing, maintenance, and operations waste is segregated, categorized, and handled in compliance with local and federal requirements.

Our focus on spill prevention and control focuses is paramount at our facilities and customer locations.

spill prevention and control

Through scenario analysis utilizing globally accepted climate modeling , publicly available customer plans and outlook, and current energy projections , it is clear that the world’s need for hydrocarbon energy and feedstocks will continue to increase for years to come based on current policies and emissions reduction commitments. In alignment with many of our customers, our strategy in regard to climate is to minimize and eliminate the GHG emissions from our business by:

climate strategy

Utilizing and investing in all available proven technologies to improve the operating efficiency of our drilling rigs, and

Leveraging our expertise and high-spec drilling rig fleet for lower-emission energy opportunities such as geothermal, CO2 storage, and natural gas storage drilling.

We also continue to explore lower GHG energy sources for our drilling rigs, support facilities, offices, and equipment. We strive to be the lowest GHG emitting land drilling rig provider for all drilling applications.

Learn More

Grid Power

Grid-tie technology allows the rig to accept high-voltage line power from a utility provider or local power generation station.

Learn More

Dynamic Gas Blending

Engines automatically adapt to variations in fuel quality and pressure, enabling them to operate on a broad range of fuels.

Learn More

Natural Gas Generators

Natural gas engines with advanced technology that enhance engine efficiency and lower emissions.

Learn More

Smart Engine Management

SEMS works by continuously monitoring rig power demand and transient spikes versus available engine power.

Learn More

Emissions Monitoring

Cloud-based solution that utilizes sensor technology to monitor fuel consumption, power generation, and emissions in real time.

Learn More

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Additionally, we deliver in-person training throughout the organization and schedule as needed. There have been no internal or external investigations regarding laws or our policies. Our internal audit department performs an intensive Anti-Bribery and Anti-Corruption audit to ensure our internal processes, procedures, books and records have no gaps.

The senior leadership team member engaged in misconduct, including fraud, non-compliance with applicable laws, and any act or omission that would entitle an employee to be terminated for cause.

There was an error in calculating executive compensation during their time with Precision.

Establishes a regular black-out calendar.

Prohibits short-term trades, purchases on margin, short sales, trading in derivatives, or hedging the value of Precision shares through specific financial instruments.

Requires insiders to pre-clear trades of Precision shares.

Prohibits insiders from participating in equity monetization transactions involving any unvested equity awards under our long-term incentive plans or Precision shares that constitute part or all our terms for meeting our minimum share ownership guidelines.

Our Privacy Policy details personal information, how we collect, share, use, and protect it, and how employees can exercise their privacy rights. We regularly update our Privacy Policy to ensure compliance with various regulations and provided privacy training to all corporate employees.

Employees must disclose any potential conflicts of interest, which are reviewed by our Audit and Compliance departments and resolved in accordance with the Code.

Our policy requires employees to inform the Chief Compliance Officer of any company communication with government officials, including elected officials and bureaucratic staff. This excludes interactions with regulators in the ordinary course of business with the Alberta Energy Regulator, Occupational Health & Safety officials, and other regulators in Canada, the U.S., or internationally, unless their actions raise questions under our policies.

With oversight of the Audit Committee, HSE and Corporate Responsibility Council, and HRCC Committee, no ethics incidents in 2022 required disclosure and 100% of the issues reported through the PD EthicsLine were reviewed and resolved.

visit pd ethicsline

enterprise risk management link to esg

Board of Directors Corporate Governance, Nominating & Risk Committee CEO and Executive Team Internal Audit Risk Owners

Oversight of enterprise risk Oversight of ERM Process Management of enterprise risk Incorporates ERM risks and mitigation into annual internal audit plan Ownership and accountability of specific ERM risks

We manage supply risk through our comprehensive selection process and predominantly use domestic suppliers bound by U.S. and Canadian laws and regulations. We ensure that suppliers comply with their obligations and the laws before entering contractual arrangements. Internationally, we strictly vet suppliers and follow specific processes to determine the appropriate requirements. Our Anti-Bribery and Anti-Corruption compliance policy requires certain high-risk suppliers to successfully complete an added layer of due diligence, receive anti-bribery training, and undergo frequent audits.

All suppliers are required to comply with the Code. We emphasize our expectations of suppliers in areas of legal and ethical compliance, environmental, health, safety and security, conflict minerals, conflict of interest, human rights, diversity, and compliance assurance.

In 2022

High Efficiency LED Lighting Retrofits at Precision Facilities

EverGreen Emissions Monitoring Systems Deployed

*At our Wafra location

1: IPCC AR6 Climate Change 2022: Mitigation of Climate Change 2: IEA World Energy Outlook 2022

resources

2022 ESG Performance Metric Tables

2021 Corporate Responsibility Report

2020 Corporate Responsibility Report

2019 Corporate Responsibility Report

SAFE OPERATIONS VERIFICATION

PLAN

CHECK

LEARN

START WORK

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2022 Highlights

total employee training hours

25,160

82,855

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Short service employee training hours

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ESG Disclosure Framework Reference Tables

In 2022

Greenhouse Gas Emissions

Environmental Stewardship

Climate Change

Spill Prevention

Safety and Health

Talent Management

Philanthropy and Community

Diversity, Equity, and Inclusion

Corruption and Ethics

Public Policy and Lobbying

Enterprise Risk Management

Board Oversight

governance

Kilometers Drilled

10,800+

EQUIPPED SUPER SERIES RIGS

NATURAL GAS CAPABLE RIGS

social

Environment

Our materiality assessment process and review cycle, initiated in 2017 and last refreshed in 2020, drives our focus on the areas of ESG that are most important in the work that we do. By incorporating these into our quarterly board reviews and HSE and Corporate Responsibility Council meetings, we ensure that our strategic priorities remain grounded in our material risks and opportunities.

ESG Materiality

High Performance, High

Value

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water neutrality

Our facilities are equipped with water-saving fixtures to reduce water usage, and we are dedicated to helping our customers improve their water consumption whenever possible.

Learn More

Our diversity policy set a target of achieving 30% representation of females on our Board, a target we are committed to achieving by the end of 2023.

Precision is politically neutral and does not engage in political activities, make political contributions, or use company funds or assets for political purposes.

public policy and lobbying

avoiding conflicts of interest

Any conflicts are subject to the procedures and remedies outlined under the Business Corporations Act (Alberta).

Board of Directors Corporate Governance, Nominating & Risk Committee CEO and Executive Team Internal Audit Risk Owners

Board of Directors

Oversight of enterprise risk

Board of Directors

Oversight of enterprise risk

Board of Directors

Oversight of enterprise risk

Corporate Governance, Nominating & Risk Committee

Oversight of ERM Process

Last updated: March 28, 2023