Precision Drilling Corporation Presents at UBS Global Oil and Gas Conference, May-22-2013 12:30 PM. Venue: Four Seasons Hotel, 98 San Jacinto Blvd., Austin, Texas, United States. Speakers: Carey Thomas Ford, Vice President of Finance and Investor Relations.

The Board of Directors of Precision Drilling Corporation has declared a second quarter dividend on its common shares of CAD 0.05 per share, payable on May 15, 2013, to shareholders of record on May 6, 2013. The company reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue was CAD 595.720 million against CAD 640.066 million a year ago, due to lower North American activity partially offset by higher average day rates and increased international activity. Adjusted EBITDA was CAD 215.181 million against CAD 245.574 million a year ago. Net earnings were CAD 93.313 million against CAD 111.081 million a year ago. Diluted earnings per share were CAD 0.33 against CAD 0.39 a year ago. Cash provided by operations was CAD 62.948 million against CAD 162.440 million a year ago. Funds provided by operations were CAD 144.682 million against CAD 247.739 million a year ago. Net capital spending was CAD 128.067 million against CAD 216.604 million a year ago. Capital expenditures for the purchase of property, plant and equipment were CAD 130.6 million against CAD 221.68 million a year ago. Capital spending for the first quarter of 2013 included CAD 77 million for expansion capital, CAD 37 million for upgrade capital and CAD 17 million for the maintenance of existing assets and infrastructure spending. Operating earnings was CAD 130.288 million against CAD 170.750 million a year ago. Earnings before tax were CAD 111.023 million against CAD 143.463 million a year ago. Net debt as on March 31, 2013 was approximately CAD 1.1 billion. For the quarter, the company reported on precision basis, number of drilling rigs was 187 against 192 a year ago. Drilling rig operating days was 9,789 against 11,042 a year ago. Drilling rig operating day utilization was 58% against 64% a year ago. Number of wells drilled was 1,055 against 872 a year ago. Average days per well was 9.3 against 12.7 a year ago. Number of metres drilled was 1,829,000 against 1,619,000 a year ago. Average metres per well was 1,734 against 1,856 a year ago. Average metres per day were 187 against 147 a year ago. On industry basis, number of drilling rigs was 822 against 811 a year ago. Drilling rig operating days was 43,298 against 48,121 a year ago. Drilling rig operating day utilization was 59% against 65% a year ago. Number of wells drilled was 3,564 against 3,019 a year ago. Average days per well was 12.1 against 15.9 a year ago. Number of metres drilled was 7,347,000 against 6,411,000 a year ago. Average metres per well was 2,062 against 2,124 a year ago. Average metres per day were 170 against 133 a year ago. The company expects capital spending in 2013 to be approximately CAD 533 million, of which CAD 131 million was spent during the first quarter. The company expects tax rate for the year to be approximately 20%.

2013 Annual and Special Meeting of Shareholders