Civeo : 2020 Annual Shareholder Meeting Presentation

Annual General Meeting of Shareholders

May 19, 2021

Annual General Meeting of Shareholders

MEETING CALLED TO ORDER BY CHAIRMAN

Introduction of Civeo Corporation's Board of Directors and executive officers

Introduction of Scrutineer - Paul Ramirez of Broadridge

Instruction of Proposals

• Election of two directors
• Approve compensation of the Company's named executive officers
• Appointment of E&Y as auditors
• Approve the annual frequency of the vote on the compensation of the
  Company's named executive officers

Confirm votes and adjourn meeting

Shareholder Presentation

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Forward Looking Statements

This presentation contains forward-looking statements within the meaning of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. The forward-looking statements herein include the statements regarding Civeo's future plans and outlook, including guidance, current trends and liquidity needs, are based on then current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. Such risks and uncertainties include, among other things, risks associated with global health concerns and pandemics, including the COVID-19 pandemic and the risk that room occupancy may decline if our customers are limited or restricted in the availability of personnel who may become ill or be subjected to quarantine, risks associated with the general nature of the accommodations industry, risks associated with the level of supply and demand for oil, coal, iron ore and other minerals, including the level of activity, spending and developments in the Canadian oil sands, the level of demand for coal and other natural resources from, and investments and opportunities in, Australia, and fluctuations or sharp declines in the current and future prices of oil, natural gas, coal, iron ore and other minerals, risks associated with failure by our customers to reach positive final investment decisions on, or otherwise not complete, projects with respect to which we have been awarded contracts, which may cause those customers to terminate or postpone contracts, risks associated with currency exchange rates, risks associated with the company's ability to integrate acquisitions, risks associated with labor shortages, risks associated with the development of new projects, including whether such projects will continue in the future, risks associated with the trading price of the company's common shares, availability and cost of capital, risks associated with general global economic conditions, global weather conditions, natural disasters and security threats and changes to government and environmental regulations, including climate change, and other factors discussed in the "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" sections of Civeo's annual report on Form 10-K for the year ended December 31, 2020 and other reports the company may file from time to time with the U.S. Securities and Exchange Commission. Each forward-looking statement contained herein speaks only as of the date of this presentation. Except as required by law, Civeo expressly disclaims any intention or obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.

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Three Key Themes

• Safety first: Safety protocols and crisis management plan worked to keep our employees and guests safe and our locations open
• Diversified revenue streams: Our focus on supporting our customers' operating and maintenance personnel coupled with our strategic efforts to diversify our geographic and commodity exposure help generate more resilient financial results in a chaotic macroeconomic environment
• Generate Free Cash Flow/Reduce Leverage: Our financial strategy remains
  consistent and progress was made in 2020 - generate free cash flow and reduce leverage

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Focus on Safety Performance

• Safety is a core value at Civeo
• • Worked in close consultation with medical professionals, government health authorities, third-party experts and our customers to implement enhanced safety measures at all our facilities
  • Implemented numerous initiatives to protect the health of our staff, guests and communities during the COVID-19 pandemic - including health screening questionnaires, increased sanitation, takeaway food service, mandatory physical distancing, roster changes and work from home protocols
• Improvements achieved in Canada, Australia and the U.S.; TRIR performance significantly better than industry averages (2019 US BLS TRIR for hotels was 4.5 incidents per 200,000 hours worked)

1.8								2018		2019	2020
1.6				1.5
1.4
1.2
1.0
0.8					0.7	0.6
0.6			0.6			0.5			0.5	0.6
	0.4	0.4	0.4							0.5
0.4
0.2					0.0
0.0
	Canada	USA	Australia		Global

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