Here are 1-2 brief analogies for Civeo (CVEO):

• A specialized hotel chain like Hilton or Marriott, but focused on building and operating entire communities for industrial workforces in remote locations.

• Sodexo or Aramark, but for temporary work camps and facilities management in the natural resources and construction industries.

• Workforce Accommodation Solutions: Provides temporary and permanent lodging facilities and villages for remote workforces, primarily in the natural resource and infrastructure sectors.
• Hospitality and Catering Services: Offers comprehensive catering, food service, and other hospitality amenities within its workforce accommodation facilities.
• Facility Management and Logistics: Manages the daily operations, maintenance, and sometimes provides logistical support for the workforce accommodations and client personnel.

null

Bradley J. Dodson President, Chief Executive Officer and Director

Bradley J. Dodson has served as President, Chief Executive Officer, and Director of Civeo since May 2014. Prior to joining Civeo, Mr. Dodson held several executive positions with Oil States International, Inc. from March 2001 to June 2014, including Executive Vice President, Accommodations; Senior Vice President, Chief Financial Officer and Treasurer; Vice President, Corporate Development; and Director of Business Development. Before his time at Oil States, he held various positions with L.E. Simmons & Associates, Incorporated, a private equity firm focused on oilfield service investments, from June 1998 to March 2001. He also worked in the mergers and acquisitions group of Merrill Lynch & Co. from July 1996 to June 1998.

Barclay H. Brewer Interim Chief Financial Officer, Vice President and Chief Accounting Officer

Barclay H. Brewer was appointed Interim Chief Financial Officer of Civeo in March 2024, succeeding Carolyn J. Stone. He also serves as the Vice President and Chief Accounting Officer and has been with Civeo since 2014.

Carolyn J. Stone Former Senior Vice President, Chief Financial Officer and Treasurer

Carolyn J. Stone served as Senior Vice President, Chief Financial Officer and Treasurer at Civeo from November 2019 until March 2024. Before her appointment as CFO, she was Civeo's Chief Accounting Officer (from May 2019) and Vice President, Controller and Corporate Secretary (from May 2014). Prior to joining Civeo, Ms. Stone served as the CFO of Synagro Technologies Inc. from 2012 to 2013. She also held multiple roles at Dynegy Inc., including Chief Accounting Officer and Treasurer, from 2001 to 2012. She began her career in the audit practice at PricewaterhouseCoopers LLP.

Peter L. McCann Senior Vice President, Australia

Peter L. McCann is the Senior Vice President for Civeo's Australian operations. His career background includes roles in the airline industry, serving as Chief Financial Officer for Hazelton Airlines Ltd and General Manager Finance Customer Service for QANTAS Airways Limited. Mr. McCann also worked as an analyst for IBM Global Services and started his career as a cadet accountant with Coopers & Lybrand Audit.

Andrew S. Fraser President, Canada

Andrew S. Fraser was appointed President, Canada, effective August 19, 2024. He brings extensive international executive management experience to Civeo. Most recently, he served as CEO and Executive Chair of the Board of Directors of NCSG Crane and Heavy Haul, and previously as CEO of Camex Equipment Sales and Rentals. Mr. Fraser spent 30 years with Finning International, holding various executive roles across the company's Canadian and international operations. He has also served as a director on several boards in the energy, manufacturing, and distribution sectors, and currently sits on the boards of ATB Financial and Aquatera Utilities.

The accelerating adoption of automation, robotics, and remote operating centers by natural resource companies, which reduces the number of human personnel required on-site at remote facilities, thereby diminishing the core demand for Civeo's workforce accommodations and associated services.

Civeo (symbol: CVEO) primarily provides workforce accommodation and hospitality services to the natural resource industry, encompassing lodges, villages, mobile assets, food, housekeeping, and facility management. Their addressable markets can be sized by focusing on the broader non-residential accommodation sector that includes worker-specific lodging.

• North America: The addressable market for non-residential accommodation services for students and workers, which includes migrant worker camps, was approximately US$ 7.315 billion in 2024. This figure represents about 38% of the global market for such services.
• Australia: The extended stay hotel market, which can serve as a proxy for a portion of workforce accommodation, is projected to be US$ 2.3 billion in 2025 and is expected to reach US$ 3.8 billion by 2035.

• Strategic Acquisitions in Australia: Civeo's recent acquisition of four owned villages in the Australian Bowen Basin in May 2025 has already contributed to revenue growth, with its Australian segment showing continued year-over-year and sequential growth. This strategic expansion is expected to further enhance revenues in the coming years.
• Growth in Australian Integrated Services and Occupancy: The company is targeting AUD 500 million in revenue from its integrated services business by 2027, demonstrating a clear focus on expanding this area. This growth is underpinned by strong occupancy levels and consistent customer activity across its Australian owned villages.
• Increased Utilization of Mobile Camp Assets in Canada driven by Infrastructure Projects: Despite recent challenges in the Canadian market, Civeo is optimistic about increased utilization of its mobile camp assets. This optimism is based on robust bidding activity and ongoing public support at both federal and provincial levels for infrastructure projects, particularly in natural gas and LNG, with final investment decisions anticipated in 2026 and 2027. Civeo is well-positioned to capitalize on these proposed infrastructure projects.
• Expansion into New Markets: Civeo has highlighted "expansion into new markets" as a key strategic initiative aimed at ongoing value creation. While specific new markets are not detailed, this indicates a broader strategy to diversify and grow its revenue streams beyond existing operations.

Share Repurchases

• Since instituting its share repurchase program in 2021, Civeo has repurchased approximately 27% of its common shares outstanding.
• In 2022, Civeo repurchased approximately 1.5 million common shares, allocating about $45 million to these repurchases, representing over 50% of its 2022 free cash flow.
• A new share repurchase program was authorized on March 27, 2025, for up to 10% of total common shares outstanding over the next twelve months. As of September 30, 2025, approximately 69% of the current share buyback authorization (20% of common shares outstanding) had been completed, with an intent to use no less than 100% of annual free cash flow to complete the program.

Outbound Investments

• Subsequent to the fourth quarter of 2024, Civeo entered into an agreement to acquire four villages and associated long-term contracts in the Australian Bowen Basin.
• In May 2025, this acquisition was finalized for A$105 million (approximately $67 million USD), adding 1340 rooms and expanding Civeo's market leadership in the coking coal basin. This acquisition is expected to add A$50 million to annual revenues and A$27 million to Adjusted EBITDA.

Capital Expenditures

• In 2023, Civeo invested $31.6 million in capital expenditures, primarily for maintenance spending on its lodges and villages, including $10.0 million for customer-funded infrastructure upgrades at three Australian villages.
• For the full year 2024, capital expenditures were $26.1 million, mainly for planned maintenance spending on lodges and villages, which also included $2.9 million for customer-funded infrastructure upgrades in Australia.
• For the full year 2025, Civeo has maintained its capital expenditure guidance at a range of $20 million to $25 million, with a primary focus on maintenance spending.