Precision Drilling Corporation — Proxy Solicitation & Information Statement 2022

Mar 30, 2022

Notice-and-Access Notification to Beneficial Shareholders

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You are receiving this notification as Precision Drilling Corporation ( Precision ) has elected to utilize the notice-and-access provisions adopted by the Canadian Securities Administrators ( Notice-and-Access ) for delivery of its information circular and related proxy materials (the Meeting Materials ) to its shareholders who do not hold their Precision common shares ( Common Shares ) in their own name (the Beneficial Shareholders ). Precision will not utilize Notice-and-Access with respect to the mailing of the Meeting Materials to Beneficial Shareholders who have standing instructions, or have otherwise requested, to receive paper copies of materials. Rather, such shareholders will receive paper copies of the Meeting Materials . The use of this alternative means of delivery is more environmentally friendly as it helps reduce paper use and also reduces the cost of printing and mailing materials to shareholders.

Please review the information circular before voting.

You are invited to our 2022 Annual and Special Meeting of Shareholders:

When Where May 12, 2022 Virtual only meeting via live audio webcast online at 10:00 AM Mountain Daylight Time ( MDT ) https://web.lumiagm.com/275227875

Items of Business

Section of Information Circular

1. Receive the audited consolidated financial statements “Receive the 2021 Consolidated Financial Statements” and report of the auditors for the year ended December see Page 16. 31, 2021

2. Elect the directors “Elect the Directors” see Page 16. 3. Appoint the auditors and authorize the directors to fix “Appoint the Auditors” see Page 17. the auditors’ fees

3. Participate in our ‘say-on-pay’ advisory vote “Participate in Our ‘Say-on-Pay’ Advisory Vote” see Page 17.

4. Approving a resolution, the full text of which is set forth “Approve the reconfirmation and continuation of our in the information circular, approving the shareholder rights plan” see Page 18. reconfirmation and continuation of our shareholder rights plan

5. Approving a resolution, the full text of which is set forth “Approve amendments to the Omnibus Equity Incentive in the information circular, approving amendments to Plan” see Page 21. the Omnibus Equity Incentive Plan

6. Other business “Other Business” see Page 23.

Particulars of the matters to be brought before the Meeting are set forth in the information circular . Shareholders are reminded to review the information circular carefully and in full prior to voting in relation to the matters to be conducted at the meeting.

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Websites Where Meeting Materials are Posted

Meeting Materials can be viewed online at www.sedar.com or on our website at www.precisiondrilling.com.

Requests for Paper Copies by Beneficial Holders

Beneficial Shareholders may request paper copies of the Meeting Materials to be sent to them by postal delivery at no cost to them. Requests may be made up to one year from the date the information circular was filed on SEDAR by submitting an online request form at the website www.proxyvote.com or by telephone at 1.877.907.7643 (toll free in North America).

The proxy deposit date and time for Beneficial Shareholders is 10:00 AM MDT on May 10, 2022 (or if the meeting is postponed or adjourned, by 10:00 AM MDT two business days before the adjourned or postponed meeting is reconvened). In order to allow reasonable time for a Beneficial Shareholder to receive and review a paper copy of the Meeting Materials in advance of the proxy deposit date and time, we estimate that any Beneficial Shareholder wishing to request a paper copy of the Meeting Materials should submit such request in accordance with the instructions set forth above on or before April 29, 2022.

Questions

If you have questions on the notice-and-access process, contact our proxy solicitors, TMX Investor Solutions, Inc. at 1.800.761.6578 (toll free in North America) or 201.806.7301 (collect, outside North America).

Send in your voting instructions right away!

Your completed voting instruction form must be received by Broadridge using one of the following methods by 10:00 AM MDT on May 10, 2022 for your vote to count:

• Internet: www.proxyvote.com

• Telephone:

  • 1.800.474.7493 (English)

  • 1.800.474.7501 (French)

• Mail:

Broadridge Data Processing Centre PO Box 3700 Stn Industrial Park Markham ON L3R 9Z9

If you have questions on the notice-and-access process, contact our proxy solicitors, TMX Investor Solutions, Inc.

• 1.800.761.6578 (toll free in North America)

• 201.806.7301 (collect, outside North America)

2 Precision Drilling Corporation