Civeo Corp — Call Transcript 2026

Well, good morning everyone, and welcome to the Civeo Annual General Meeting of Shareholders. I will now hand the call over to Mr. Rick Navarre. Please go ahead, sir. Good morning. I'm Rick Navarre, Chairman of the Board of Directors of Civeo Corporation, and I am a shareholder. Welcome to the 2026 Annual General Meeting of Shareholders. The meeting will now come to order. The polls have been opened, and we will close the polls on all matters immediately after the presentation of today's proposals. To begin, we would like to introduce Civeo Corporation's Board of Directors and Executive Officers. Bradley Dodson, President, Chief Executive Officer, and Director. Ronald Blankenship, Director. Jay Grewal, Director. Martin Lambert, Director. Michael Montelongo, Director. Constance Moore, Director. Jeffrey Scofield, Director. Daniel Silvers, Director. Charles Szalkowski, Director. Timothy Wall, Director. Collin Gerry, Senior Vice President, Chief Financial Officer, and Treasurer. In addition, we are joined today by LaTosha Fraley, Civeo Corporation's Corporate Secretary, who will be assisting me in the conduct of today's meeting. As previously announced, Mr. Szalkowski and Ms. Grewal will be stepping down from the board of directors following today's meeting. On behalf of the board of directors, I would like to thank both of them for their years of valuable service to Civeo and our shareholders. A copy of the rules of conduct, which we will follow in carrying out the business of this meeting, is available on the annual meeting website. As stated in the rules of conduct, if you would like to submit a question, you may do so by following the instructions on the meeting website. We ask that you limit yourself to two questions or comments and restrict your questions to matters of general interest to our stockholders. If we receive substantially similar written questions, we will group such questions together and provide a single response to avoid repetition. All questions received before or during the meeting and our responses will be posted to our investor relations website. Thank you for your cooperation with these rules. Rhonda Carroll from Broadridge has been designated as the scrutineer. The scrutineer has confirmed the notice of Annual General Meeting and related proxy statement was distributed on April 13, 2026, to shareholders of record on March 30th, 2026, and that a quorum is present at the meeting. We will now proceed with the items presented in the proxy statement furnished to the shareholders of record. If you wish to vote during the meeting, please follow the instructions on the meeting website before the polls close. If you have already voted in advance of the meeting, you do not need to vote again unless you wish to change your vote. Our first proposal is the election of the six directors named in the proxy statement to serve as class two and class three members of the company's board of directors until the 2027 annual meeting of shareholders or until their successors are duly elected and qualified. The board of directors recommends that shareholders vote for each of the six director nominees. Our second proposal is to approve the compensation of the company's named executive officers. This proposal is a non-binding shareholder advisory vote. The board of directors recommends that shareholders vote for the proposal. Our third proposal is to approve an amendment of the 2014 Equity Participation Plan of Civeo Corporation to increase the number of shares available for issuance thereunder by 520,920 shares, subject to adjustments in accordance with the terms of the plan. The board of directors recommends that shareholders vote for the proposal. Our fourth proposal is to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2026 and until the next annual general meeting of shareholders, and to authorize the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. The board of directors recommends that shareholders vote for the proposal. The polls are now closed. We will now proceed to the voting results. I call upon our corporate secretary, Ms. Fraley, to present the preliminary report of the scrutineer. Thank you, Mr. Navarre. The scrutineer has delivered their preliminary report. Based on the proxies and ballots received regarding the election of the directors, the six nominees for directors named in the proxy statement received a majority of the votes cast by shareholders at the meeting, and each of those nominees received a greater number of votes for his or her election than votes withheld from his or her election. From the proxies and ballots received regarding the approval of the named executive officer compensation, the votes cast in favor of the proposal exceeded the votes cast against the proposal. From the proxies and ballots received regarding the approval of the amendment to the 2014 Equity Participation Plan, the votes cast in favor of the proposal exceeded the votes cast against the proposal. From the proxies and ballots received regarding the auditor proposal, the majority of the votes cast by shareholders were voted in favor of the proposal. That concludes my report on the preliminary voting results provided by the scrutineer. Thank you. Based on the proxies and ballots received, the shareholders have elected the six nominees for director named in the proxy statement, approved on an advisory basis the compensation of the company's named executive officers, approved the amendment to the 2014 Equity Participation Plan, and ratified the appointment of Ernst & Young LLP for 2026 and until the next annual general meeting of shareholders, and authorized the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. The final certified results will be reported in a Form 8-K to be filed with the SEC within four business days. This concludes our meeting. Thank you for participating. We are now adjourned. This concludes today's meeting. You may now disconnect.

Speaker 2: Well, good morning everyone, and welcome to the Civeo Annual General Meeting of Shareholders. I will now hand the call over to Mr. Rick Navarre. Please go ahead, sir. Well, good morning everyone, and welcome to the Civeo Annual General Meeting of Shareholders. well good morning everyone and welcome to the civeo annual general meeting of shareholders I will now hand the call over to Mr. Rick Navarre. i will now hand the call over to mr rick navarre Please go ahead, sir. please go ahead sir

Speaker 3: Good morning. I'm Rick Navarre, Chairman of the Board of Directors of Civeo Corporation, and I am a shareholder. Welcome to the 2026 Annual General Meeting of Shareholders. The meeting will now come to order. The polls have been opened, and we will close the polls on all matters immediately after the presentation of today's proposals. To begin, we would like to introduce Civeo Corporation's Board of Directors and Executive Officers. Bradley Dodson, President, Chief Executive Officer, and Director. Ronald Blankenship, Director. Jay Grewal, Director. Martin Lambert, Director. Michael Montelongo, Director. Constance Moore, Director. Jeffrey Scofield, Director. Daniel Silvers, Director. Charles Szalkowski, Director. Timothy Wall, Director. Collin Gerry, Senior Vice President, Chief Financial Officer, and Treasurer. In addition, we are joined today by LaTosha Fraley, Civeo Corporation's Corporate Secretary, who will be assisting me in the conduct of today's meeting. Good morning. good morning I'm Rick Navarre, Chairman of the Board of Directors of Civeo Corporation, and I am a shareholder. i'm rick navarre chairman of the board of directors of civeo corporation and i am a shareholder Welcome to the 2026 Annual General Meeting of Shareholders. welcome to the 2026 annual general meeting of shareholders The meeting will now come to order. the meeting will now come to order The polls have been opened, and we will close the polls on all matters immediately after the presentation of today's proposals. the polls have been opened and we will close the polls on all matters immediately after the presentation of today's proposals To begin, we would like to introduce Civeo Corporation's Board of Directors and Executive Officers. to begin we would like to introduce civeo corporation's board of directors and executive officers Bradley Dodson, President, Chief Executive Officer, and Director. bradley dodson president chief executive officer and director Ronald Blankenship, Director. ronald blankenship director Jay Grewal, Director. jay grewal director Martin Lambert, Director. martin lambert director Michael Montelongo, Director. michael montelongo director Constance Moore, Director. constance moore director Jeffrey Scofield, Director. jeffrey scofield director Daniel Silvers, Director. daniel silvers director Charles Szalkowski, Director. charles szalkowski director Timothy Wall, Director. Collin Gerry, Senior Vice President, Chief Financial Officer, and Treasurer. timothy wall director collin gerry senior vice president chief financial officer and treasurer In addition, we are joined today by LaTosha Fraley, Civeo Corporation's Corporate Secretary, who will be assisting me in the conduct of today's meeting. in addition we are joined today by latosha fraley civeo corporation's corporate secretary who will be assisting me in the conduct of today's meeting As previously announced, Mr. Szalkowski and Ms. Grewal will be stepping down from the board of directors following today's meeting. On behalf of the board of directors, I would like to thank both of them for their years of valuable service to Civeo and our shareholders. A copy of the rules of conduct, which we will follow in carrying out the business of this meeting, is available on the annual meeting website. As stated in the rules of conduct, if you would like to submit a question, you may do so by following the instructions on the meeting website. We ask that you limit yourself to two questions or comments and restrict your questions to matters of general interest to our stockholders. If we receive substantially similar written questions, we will group such questions together and provide a single response to avoid repetition. As previously announced, Mr. Szalkowski and Ms. Grewal will be stepping down from the board of directors following today's meeting. as previously announced mr szalkowski and ms grewal will be stepping down from the board of directors following today's meeting On behalf of the board of directors, I would like to thank both of them for their years of valuable service to Civeo and our shareholders. on behalf of the board of directors i would like to thank both of them for their years of valuable service to civeo and our shareholders A copy of the rules of conduct, which we will follow in carrying out the business of this meeting, is available on the annual meeting website. a copy of the rules of conduct which we will follow in carrying out the business of this meeting is available on the annual meeting website As stated in the rules of conduct, if you would like to submit a question, you may do so by following the instructions on the meeting website. as stated in the rules of conduct if you would like to submit a question you may do so by following the instructions on the meeting website We ask that you limit yourself to two questions or comments and restrict your questions to matters of general interest to our stockholders. we ask that you limit yourself to two questions or comments and restrict your questions to matters of general interest to our stockholders If we receive substantially similar written questions, we will group such questions together and provide a single response to avoid repetition. if we receive substantially similar written questions we will group such questions together and provide a single response to avoid repetition All questions received before or during the meeting and our responses will be posted to our investor relations website. Thank you for your cooperation with these rules. Rhonda Carroll from Broadridge has been designated as the scrutineer. The scrutineer has confirmed the notice of Annual General Meeting and related proxy statement was distributed on April 13, 2026, to shareholders of record on March 30th, 2026, and that a quorum is present at the meeting. We will now proceed with the items presented in the proxy statement furnished to the shareholders of record. If you wish to vote during the meeting, please follow the instructions on the meeting website before the polls close. If you have already voted in advance of the meeting, you do not need to vote again unless you wish to change your vote. All questions received before or during the meeting and our responses will be posted to our investor relations website. all questions received before or during the meeting and our responses will be posted to our investor relations website Thank you for your cooperation with these rules. thank you for your cooperation with these rules Rhonda Carroll from Broadridge has been designated as the scrutineer. rhonda carroll from broadridge has been designated as the scrutineer The scrutineer has confirmed the notice of Annual General Meeting and related proxy statement was distributed on April 13, 2026, to shareholders of record on March 30th, 2026, and that a quorum is present at the meeting. the scrutineer has confirmed the notice of annual general meeting and related proxy statement was distributed on april 13 2026 to shareholders of record on march 30th 2026 and that a quorum is present at the meeting We will now proceed with the items presented in the proxy statement furnished to the shareholders of record. we will now proceed with the items presented in the proxy statement furnished to the shareholders of record If you wish to vote during the meeting, please follow the instructions on the meeting website before the polls close. if you wish to vote during the meeting please follow the instructions on the meeting website before the polls close If you have already voted in advance of the meeting, you do not need to vote again unless you wish to change your vote. if you have already voted in advance of the meeting you do not need to vote again unless you wish to change your vote Our first proposal is the election of the six directors named in the proxy statement to serve as class two and class three members of the company's board of directors until the 2027 annual meeting of shareholders or until their successors are duly elected and qualified. The board of directors recommends that shareholders vote for each of the six director nominees. Our second proposal is to approve the compensation of the company's named executive officers. This proposal is a non-binding shareholder advisory vote. The board of directors recommends that shareholders vote for the proposal. Our third proposal is to approve an amendment of the 2014 Equity Participation Plan of Civeo Corporation to increase the number of shares available for issuance thereunder by 520,920 shares, subject to adjustments in accordance with the terms of the plan. Our first proposal is the election of the six directors named in the proxy statement to serve as class two and class three members of the company's board of directors until the 2027 annual meeting of shareholders or until their successors are duly elected and qualified. our first proposal is the election of the six directors named in the proxy statement to serve as class two and class three members of the company's board of directors until the 2027 annual meeting of shareholders or until their successors are duly elected and qualified The board of directors recommends that shareholders vote for each of the six director nominees. the board of directors recommends that shareholders vote for each of the six director nominees Our second proposal is to approve the compensation of the company's named executive officers. our second proposal is to approve the compensation of the company's named executive officers This proposal is a non-binding shareholder advisory vote. this proposal is a non-binding shareholder advisory vote The board of directors recommends that shareholders vote for the proposal. the board of directors recommends that shareholders vote for the proposal Our third proposal is to approve an amendment of the 2014 Equity Participation Plan of Civeo Corporation to increase the number of shares available for issuance thereunder by 520,920 shares, subject to adjustments in accordance with the terms of the plan. our third proposal is to approve an amendment of the 2014 equity participation plan of civeo corporation to increase the number of shares available for issuance thereunder by 520,920 shares subject to adjustments in accordance with the terms of the plan The board of directors recommends that shareholders vote for the proposal. Our fourth proposal is to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2026 and until the next annual general meeting of shareholders, and to authorize the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. The board of directors recommends that shareholders vote for the proposal. The polls are now closed. We will now proceed to the voting results. I call upon our corporate secretary, Ms. Fraley, to present the preliminary report of the scrutineer. The board of directors recommends that shareholders vote for the proposal. the board of directors recommends that shareholders vote for the proposal Our fourth proposal is to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2026 and until the next annual general meeting of shareholders, and to authorize the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. our fourth proposal is to ratify the appointment of ernst & young llp as the company's independent registered public accounting firm for 2026 and until the next annual general meeting of shareholders and to authorize the directors of the company acting through the audit committee to determine the compensation to be paid to ernst & young llp for 2026 The board of directors recommends that shareholders vote for the proposal. the board of directors recommends that shareholders vote for the proposal The polls are now closed. the polls are now closed We will now proceed to the voting results. we will now proceed to the voting results I call upon our corporate secretary, Ms. Fraley, to present the preliminary report of the scrutineer. i call upon our corporate secretary ms fraley to present the preliminary report of the scrutineer

Speaker 1: Thank you, Mr. Navarre. The scrutineer has delivered their preliminary report. Based on the proxies and ballots received regarding the election of the directors, the six nominees for directors named in the proxy statement received a majority of the votes cast by shareholders at the meeting, and each of those nominees received a greater number of votes for his or her election than votes withheld from his or her election. From the proxies and ballots received regarding the approval of the named executive officer compensation, the votes cast in favor of the proposal exceeded the votes cast against the proposal. From the proxies and ballots received regarding the approval of the amendment to the 2014 Equity Participation Plan, the votes cast in favor of the proposal exceeded the votes cast against the proposal. Thank you, Mr. Navarre. thank you mr navarre The scrutineer has delivered their preliminary report. the scrutineer has delivered their preliminary report Based on the proxies and ballots received regarding the election of the directors, the six nominees for directors named in the proxy statement received a majority of the votes cast by shareholders at the meeting, and each of those nominees received a greater number of votes for his or her election than votes withheld from his or her election. based on the proxies and ballots received regarding the election of the directors the six nominees for directors named in the proxy statement received a majority of the votes cast by shareholders at the meeting and each of those nominees received a greater number of votes for his or her election than votes withheld from his or her election From the proxies and ballots received regarding the approval of the named executive officer compensation, the votes cast in favor of the proposal exceeded the votes cast against the proposal. from the proxies and ballots received regarding the approval of the named executive officer compensation the votes cast in favor of the proposal exceeded the votes cast against the proposal From the proxies and ballots received regarding the approval of the amendment to the 2014 Equity Participation Plan, the votes cast in favor of the proposal exceeded the votes cast against the proposal. from the proxies and ballots received regarding the approval of the amendment to the 2014 equity participation plan the votes cast in favor of the proposal exceeded the votes cast against the proposal From the proxies and ballots received regarding the auditor proposal, the majority of the votes cast by shareholders were voted in favor of the proposal. That concludes my report on the preliminary voting results provided by the scrutineer. From the proxies and ballots received regarding the auditor proposal, the majority of the votes cast by shareholders were voted in favor of the proposal. from the proxies and ballots received regarding the auditor proposal the majority of the votes cast by shareholders were voted in favor of the proposal That concludes my report on the preliminary voting results provided by the scrutineer. that concludes my report on the preliminary voting results provided by the scrutineer

Speaker 3: Thank you. Based on the proxies and ballots received, the shareholders have elected the six nominees for director named in the proxy statement, approved on an advisory basis the compensation of the company's named executive officers, approved the amendment to the 2014 Equity Participation Plan, and ratified the appointment of Ernst & Young LLP for 2026 and until the next annual general meeting of shareholders, and authorized the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. The final certified results will be reported in a Form 8-K to be filed with the SEC within four business days. This concludes our meeting. Thank you for participating. We are now adjourned. Thank you. thank you Based on the proxies and ballots received, the shareholders have elected the six nominees for director named in the proxy statement, approved on an advisory basis the compensation of the company's named executive officers, approved the amendment to the 2014 Equity Participation Plan, and ratified the appointment of Ernst & Young LLP for 2026 and until the next annual general meeting of shareholders, and authorized the directors of the company, acting through the audit committee, to determine the compensation to be paid to Ernst & Young LLP for 2026. based on the proxies and ballots received the shareholders have elected the six nominees for director named in the proxy statement approved on an advisory basis the compensation of the company's named executive officers approved the amendment to the 2014 equity participation plan and ratified the appointment of ernst & young llp for 2026 and until the next annual general meeting of shareholders and authorized the directors of the company acting through the audit committee to determine the compensation to be paid to ernst & young llp for 2026 The final certified results will be reported in a Form 8-K to be filed with the SEC within four business days. the final certified results will be reported in a form 8-k to be filed with the sec within four business days This concludes our meeting. this concludes our meeting Thank you for participating. thank you for participating We are now adjourned. we are now adjourned

Speaker 2: This concludes today's meeting. You may now disconnect. This concludes today's meeting. this concludes today's meeting You may now disconnect. you may now disconnect