Jay Wilcox

CALGARY, Alberta – November 7, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its third quarter 2025 financial and operating results. The unaudited condensed interim consolidated financial statements, and the management discussion & analysis (“MD&A”), for the three and nine months ended September 30, 2025 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in thousands of Canadian dollars (“CAD”), unless otherwise indicated. Lonn Bate, Interim Chief Executive Officer commented: “High Arctic is pleased to have delivered Q3 financial and operational results, driven by strong execution across a number of our 2025 strategic objectives. Q3 2025 results benefited from the provision of significant high-pressure stimulation work for a new customer which contributed to top-line growth and margin expansion. Improved financial performance was achieved as producers continued to deploy capital in developing their Duvernay assets while overall industry activity levels have softened compared to 2024. Our current service offerings and facility locations uniquely position us to provide our customers with the assets they need while allowing us to maintain a high-level of customer service. Additionally, Team Snubbing, of which High Arctic maintains a 42% equity interest, achieved a step-change in financial performance following a key contract award in Alaska and increased activity levels in their Canadian business, resulting in a record quarter for them in terms of revenue and net income. With the senior management changes announced in the quarter, High Arctic has enhanced our leadership capacity with dedicated Canadian management enabling us to further focus on the execution of the Corporation’s strategic initiatives.” In the following, the three months ended September 30, 2025 may be referred to as the “quarter” or “Q3 2025” and the comparative three months ended September 30, 2024 may be referred to as “Q3 2024”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. Additionally, the nine months ended September 30, 2025 maybe referred to as “YTD” or “YTD-2025”. References to other nine-month periods ended September 30 may be presented as “YTD-20XX” with XX being the year to which the nine-month period ended September 30 commentary relates. 2025 Q3 Highlights  Revenue from continuing operations of $2,930, an increase of 17% compared to Q3 2024.  Increased oilfield services operating margin percentage for Q3 2025 to 54.4% compared to 51.5% in Q3 2024.  Realized Adjusted EBITDA from continuing operations of $757 in the quarter, 26% of Q3 2025 revenue and a 98% increase from Q3 2024 Adjusted EBITDA.  Maintained a strong track record of operational excellence and safety, as evidenced by the continuation of recordable incident-free work.  High Arctic’s 42% equity share of Team Snubbing’s net income for Q3 2025 was $756, significantly higher than the $105 recognized in Q3 2024. Team Snubbing continues to benefit from an increase in customer activity, particularly in its operations in Alaska.  Maintained strong financial liquidity throughout the current year quarter, exiting Q3 2025 with positive working capital of $4,183, inclusive of cash of $3,052. Revenue from continuing operations of $7,656, a decrease of 5% compared to YTD-2024.  Achieved an increase in oilfield services operating margin percentage for YTD-2025 of 52.4% compared to 48.8% for YTD-2024.  Realized Adjusted EBITDA from continuing operations of $1,743 for YTD-2025, 23% of YTD-2025 revenue and a 163% increase from YTD-2024 Adjusted EBITDA.  Maintained operational excellence and safety, as evidenced by the continuation of recordable incident-free work.  Achieved expected improvements in general and administrative expenses, a reduction of 44% compared to the YTD-2024 period.  High Arctic’s share of Team Snubbing’s net income for YTD-2025 was $420 compared to a net loss of $294 for YTD-2024. 2025 Strategic Objectives The Corporation’s 2025 strategic objectives, which are unchanged from Q2 2025, include:  Relentless focus on safety excellence and quality service delivery;  Grow the core businesses through selective and opportunistic investments;  Actively manage direct operating costs and general and administrative costs;  Steward capital to preserve balance sheet strength and financial flexibility; and  Execute on accretive acquisitions or strategic alternatives in Canada to drive shareholder value. Outlook The third quarter of 2025 was a very busy and positive quarter for High Arctic. The tactical equipment additions made in 2025 to the rentals business enabled the business to secure and provide high-pressure stimulation assets to a new customer active in increasing their Duvernay production levels that drove higher year over year revenues and margins for the quarter. Additionally, Team Snubbing saw activity in both Canada and the US pick up as work that was deferred in Canada earlier in the year resumed and recent contract awards in the US saw a snubbing package go back to work for the majority of the quarter. Although High Arctic’s revenues, Adjusted EBITDA and liquidity position are not directly impacted by the results of Team Snubbing because of its minority equity ownership, the management of the liquidity/capitalization of Team Snubbing, including its debt leverage levels continue to be a top priority for High Arctic. Finally, the senior management changes that were made in the quarter resulted in the full separation from High Arctic Overseas Holdings Corp. following the Arrangement, allowing management to focus on the execution of Corporation’s strategic objectives. High Arctic’s business is driven by the underlying economics associated with its customers’ cash flows. These cash flows are driven by their oil and natural gas commodity price hedging and expectations. As customers embark on drilling new oil and natural gas wells, High Arctic’s business outlook is reliant on decisions on the subsequent activity to complete these wells for production. Therefore, the financial and operational performance of High Arctic’s rental assets and investment in the snubbing industry are highly dependent on fundamentals associated with both drilling and hydraulic fracturing completion trends in the western Canadian sedimentary basin. As the industry enters the final quarter of 2025, activity and well licensing have softened when … Read more

CALGARY, Alberta – August 19, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces the resignation of Mr. Mike Maguire as Chief Executive officer and the appointment of Mr. Lonn Bate as Interim Chief Executive Officer, effective today, August 19, 2025. Mr. Bate has been Chief Financial Officer of the Corporation since July 1, 2024 and prior to that he has been involved with the Corporation in a consulting capacity from March 2023. In addition, the Corporation is pleased to announce the appointment of Mr. Jay Bachman as Interim Chief Financial Officer, also effective August 19, 2025, subject to TSX Exchange approval. Mr. Bachman joined the Corporation’s Finance team in a consulting capacity in September 2024. Simon Batcup, the Chairman of the Corporation’s Board of Directors stated: “With post spin-out transitionary arrangements concluded, the Board and Mike felt that the time is right for Mike to step down as Interim CEO. Effective today, Lonn Bate will assume the role of Interim CEO. I am confident that Lonn, with the oversight and involvement of the High Arctic Board of Directors, will provide the necessary leadership to allow the Corporation to continue to evolve post spin-out and execute upon our 2025 strategic objectives. I would also like to thank Mike Maguire for his longstanding service to the Corporation and his continued guidance and support as Interim CEO since the spin-out. Mike can now focus fully on his duties as CEO of High Arctic Overseas Holdings Corp. (HOH:TSXV)” Mr. Bate is a Chartered Professional Accountant, CA with over 25 years of broad financial leadership including substantial periods in senior executive roles of public and private junior energy and energy services companies. Mr. Bate’s experience extends to international as well as the Canadian energy sector. He brings extensive knowledge in financial stewardship, strategic planning and analysis, equity and debt financing, company reorganizations and mergers and acquisitions. Mr. Bachman is also a Chartered Professional Accountant, CA with over 20 years of broad financial experience in roles both public and private companies across a wide range of industries. Mr. Bachman brings extensive experience in financial reporting and related corporate governance, treasury management, strategic planning and analysis and general business development activities. About High Arctic Energy Services High Arctic is an energy services provider. High Arctic provides pressure control equipment and equipment supporting the high-pressure stimulation of oil and gas wells and other oilfield equipment on a rental basis to exploration and production companies, from its bases in Whitecourt and Red Deer, Alberta. For further information contact: Lonn Bate Interim Chief Executive Officer P: 587-318-2218 P: +1 (800) 688 7143 High Arctic Energy Services Inc. Suite 2350, 330 – 5th Ave SW Calgary, Alberta, Canada T2P 0L4 website: www.haes.ca Email: info@haes.ca 250819 HAES Interim CEO and CFO Appointments

CALGARY, Alberta – August 11, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its second quarter 2025 financial and operating results. The unaudited condensed interim consolidated financial statements, and the management discussion & analysis (“MD&A”), for the three and six months ended June 30, 2025 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in thousands of Canadian dollars (“CAD”), unless otherwise indicated. Mike Maguire, Interim Chief Executive Officer commented: “High Arctic has maintained its solid start to 2025 with a second quarter performance consistent with the first quarter. We have now operated for twelve months following the spin-out of the PNG Business and demonstrated that the Corporation has the resilience and a solid base business that positions it well to benefit from anticipated increases in upstream energy service activity levels in the western Canadian oil and gas industry.” In the following, the three months ended June 30, 2025 may be referred to as the “quarter” or “Q2 2025” and the comparative three months ended June 30, 2024 may be referred to as “Q2 2024”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. Additionally, the six months ended June 30, 2025 maybe referred to as “YTD” or “YTD-2025”. References to other six-month periods ended June 30 may be presented as “YTD-20XX” with XX being the year to which the six-month period ended June 30 commentary relates. 2025 Q2 Highlights • Revenue from continuing operations of $2,391, a decrease of 6% compared to Q2 2024. • Achieved an increase in oilfield services operating margin percentage for Q2 2025 of 49.1% compared to 45.5% in Q2 2024. • Realized adjusted EBITDA from continuing operations of $482 in the quarter, 20% of revenue. • Maintained operational excellence and safety, as evidenced by the continuation of recordable incident-free work. • Achieved expected reductions in general and administrative expenses, a reduction of 52% compared to Q2 2024. • High Arctic’s 42% equity share of Team Snubbing’s net loss for Q2 2025 was $348, lower than the $889 incurred in Q2 2024. The change was primarily attributable to improved profitability in the Alaskan operations, partially offset by reduced results in the Canadian operations. • Exited Q2 2025 with positive working capital of $3,380, inclusive of cash of $2,428. 2025 YTD Highlights • Revenue from continuing operations of $4,726, a decrease of 14% compared to YTD-2024. • Achieved an increase in oilfield services operating margin percentage for YTD-2025 of 51.1% compared to 47.7% for YTD-2024. • Realized Adjusted EBITDA from continuing operations of $986 for YTD-2025, 21% of revenue. • Maintained operational excellence and safety, as evidenced by the continuation of recordable incident-free work. • Achieved expected reductions in general and administrative expenses, a reduction of 56% compared to the YTD-2024 period. • High Arctic’s share of Team Snubbing’s net loss for YTD-2025 was $336 comparable to a loss of $399 for YTD-2024. The modest change was primarily a result of improved operating activity in Alaska, offset by lower demand in the Canadian operations driven by the deferral of activity by a key customer. HAES Q2 2025 Results Press Release

CALGARY, Alberta – June 20, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”)is pleased to announce the results of the annual general and special meeting of the shareholders of High Arctic heldon June 19, 2025 (the “Meeting”). 32 shareholders holding a total of 8,570,252 common shares of the Corporation wererepresented at the Meeting in person or proxy, representing approximately 67.50% of the total votes attached to allissued and outstanding common shares of the Corporation as of the record date on May 12, 2025. All matters put forthat the Meeting were approved. In respect of the election of directors, the shareholders approved fixing the number of directors at four with eachnominee named in the Corporation’s management information circular dated May 26, 2025 being considered forelection as directors. The detailed results of the vote for the election of directors, which was conducted by ballot, are                                               VOTES FOR                           VOTES WITHHELD/ABSTAINED Simon P. D. Batcup        99.178% (8,340,507)                0.822%    (69,126) Michael R. Binnion         98.544% (8,287,182)               1.456%    (122,451) Douglas J. Strong           98.600% (8,291,871)               1.400%    (117,762) Craig F. Nieboer              99.814% (8,394,020)                0.186%   (15,613) At the Meeting, the shareholders also approved a resolution appointing MNP LLP, Chartered Professional Accountants,as auditors of the Corporation and a resolution approving a new omnibus equity incentive plan of the Corporation, toreplace the existing stock option plan, performance share unit plan, and deferred share unit plan.About High Arctic Energy ServicesHigh Arctic is an energy services provider. High Arctic provides pressure control equipment and equipment supportingthe high-pressure stimulation of oil and gas wells and other oilfield equipment on a rental basis to exploration andproduction companies, from its bases in Whitecourt and Red Deer, Alberta.For further information contact: Lonn BateChief Financial OfficerP: 587-318-2218P: +1 (877) 416 3415 High Arctic Energy Services Inc.Suite 2350, 330 – 5th Ave SWCalgary, Alberta, Canada T2P 0L4website: www.haes.caEmail: info@haes.ca HAES 2025 AGM Voting Results Final

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CALGARY, Alberta – May 13, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its first quarter 2025 financial and operating results. The unaudited condensed interim consolidated financial statements, and the management discussion & analysis (“MD&A”), for the quarter ended March 31, 2025 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in thousands of Canadian dollars (“CAD”), unless otherwise indicated. Mike Maguire, Interim Chief Executive Officer commented: “Our business has had a solid start to 2025, despite some pull back in well completion rates in Canada resulting from market uncertainty and customer consolidation events. Our investment in and amalgamation of Delta Rental Services continues to deliver financial performance in line with our pre-transaction expectations and we anticipate consistent results through the coming months with significant upside potential as gas well completion rates increase in anticipation of first gas through the Coastal GasLink pipeline. Decisive action by the management of Team Snubbing in Alaska has set a platform for improved value creation from our 42% holding of Team Snubbing. High Arctic is well positioned to benefit from upstream energy service activity levels in the western Canadian oil and gas industry.” In the following discussion, the three months ended March 31, 2025 may be referred to as the “quarter” or “Q1 2025” and the comparative three months ended March 31, 2024 may be referred to as “Q1 2024”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. 2025 FIRST QUARTER HIGHLIGHTS • Revenue from continuing operations of $2,335, a decrease of 22% compared to Q1 2024. • Achieved an increase in oilfield services operating margin percentage for Q1 2025 of 53.1% compared to 49.4% in Q1 2024. • Realized adjusted EBITDA from continuing operations of $504 in the quarter, 22% of revenue. • Maintained operational excellence and safety, as evidenced by the continuation of recordable incident-free work. • Achieved expected reductions in general and administrative expenses, a reduction of 59% compared to Q1 2024. • Equity investment in Team Snubbing is essentially unchanged at $7.4 million as at March 31, 2025. Unaudited Team Snubbing financial results delivered a modest positive net income inclusion for the quarter, with key highlights being a sequential improvement in Alaskan results, and reduced debt. • Exited Q1 with positive working capital of $3,199, including cash of $3,183. 2025 Strategic Objectives With the corporate restructuring and spinoff of the PNG business complete, the Corporation’s 2025 strategic objectives include: • Relentless focus on safety excellence and quality service delivery; • Grow the core businesses through selective and opportunistic investments; • Actively manage direct operating costs and general and administrative costs; • Steward capital to preserve balance sheet strength and financial flexibility; and • Execute on accretive acquisitions in Canada to drive shareholder value and optimize available tax loss carry-forwards. 2025 Strategic Objectives With the corporate restructuring and spinoff of the PNG business complete, the Corporation’s 2025 strategic objectives include: • Relentless focus on safety excellence and quality service delivery; • Grow the core businesses through selective and opportunistic investments; • Actively manage direct operating costs and general and administrative costs; • Steward capital to preserve balance sheet strength and financial flexibility; and • Execute on accretive acquisitions in Canada to drive shareholder value and optimize available tax loss carry-forwards. HAES Q1 2025 Results

CALGARY, Alberta – March 31, 2025, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ fourth quarter and year-end results today. The audited consolidated financial statements, management discussion & analysis (“MD&A”), and annual information form for the year ended December 31, 2024 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at www.haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Mike Maguire, Interim Chief Executive Officer commented: “With 2024 complete High Arctic has effectively been reset and is now a Canadian focused platform characterized by minimal debt, investment holdings, and an established and viable high margin rental business. Our rental business footprint, while still small in scale, was bolstered by the Delta Acquisition completed in late 2023, an acquisition that is indicative of the type and structure of accretive investments High Arctic looks to pursue going forward. The Board of Directors is currently undergoing a process to recruit and appoint a new Chief Executive Officer to augment and lead High Arctic’s vision and strategic plan which is to grow its equipment rentals business and position itself to benefit from upstream energy service activity levels in the western Canadian oil and gas industry.” In the following discussion, the three months ended December 31, 2024 may be referred to as the “Quarter” or “Q4 2024”, and similarly the year ended December 31, 2023 may be referred to as “YTD 2023”. The comparative three months ended December 31, 2023 may be referred to as “Q4 2023” and similarly the year ended December 31, 2022 may be referred to as “YTD 2022”. References to other quarters may be presented as “QX 20XX” with X being the quarter/year to which the commentary relates. 2024 Highlights • Successful integration of Delta Rental Services. • Completed the reorganization of High Arctic including the return of $37.8 million to shareholders. • Maintained operational excellence and safety as evidenced by the continuation of recordable incident free work. • Exited Q4 with net positive working capital of $2.7 million, including $3.1 million of cash. 2025 Strategic Objectives With the corporate restructuring and spinoff of the PNG business complete, the Corporation’s 2025 strategic objectives include: • Relentless focus on safety excellence and quality service delivery; • Grow the core businesses through selective and opportunistic investments; • Actively manage direct operating costs and general and administrative costs; • Steward capital to preserve balance sheet strength and financial flexibility; and • Execute on accretive acquisitions in Canada to drive shareholder value and optimize available tax loss carry-forwards. 2024 Strategic Objectives At the beginning of 2024, High Arctic established a set of strategic priorities. Our priorities and highlights of objectives met include: • Continued relentless focus on safety excellence and quality service delivery. o High Arctic’s Canadian business completed 2024 without any recordable incidents, contributing to the Corporation’s second calendar year running with a zero Total Recordable Incident Frequency Rate (“TRIF”) rate. o High Arctic extended its recordable incident free activity in PNG, with 7 years and 353 days of continuous recordable incident free work conducted to the date of the spin-out, representing over 4 million work hours. • The creation of appropriate capital and corporate structures for the current businesses, providing the opportunity to consider transactions which would create value for the Corporation’s shareholders. o The Arrangement was overwhelmingly supported by shareholders and resulted in separate public companies each focused upon their area of expertise. • A return of significant capital and spin out of the PNG Business to shareholders. o The Arrangement resulted in separate public companies while also delivering a tax efficient return of capital totaling $37.8 million to shareholders. o The Corporation retained its position on the main TSX (TSX: HWO); with High Arctic Overseas Holdings Corp. being listed on the TSX Venture Exchange (TSXV: HOH). • Grow the core businesses through selective and opportunistic investments. o The Corporation focused on the very successful integration and rebranding of its rentals business in 2024, following its acquisition and amalgamation of the Delta Acquisition at the end of 2023. o The middle of the year was dedicated to the business of the Arrangement and the resulting transitionary work, however later in the year, the Corporation commenced the examination of selective investment opportunities, with this work continuing into 2025. • Capital stewardship that preserves balance sheet strength and financial flexibility. o The Delta acquisition has provided incremental free cash flow and operational synergies. o The Corporation currently maintains low debt levels and associated leverage ratios. o Exited 2024 with a working capital ratio of 1.6:1 • Building up the Canadian business with acquisitions that allow the Corporation to optimize its available tax loss carry-forwards. o The Delta acquisition creates a blueprint for accretive acquisitions that position the Corporation to improve its ability to utilize its significant tax loss carry-forwards. o The Corporation, under the stewardship of the Board, continues its strategic review of potential acquisition targets HAES PR Annual 2024

CALGARY, Alberta – November 13, 2024, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) has released its’ third quarter financial and operating results. The unaudited consolidated financial statements and management discussion & analysis (“MD&A”) for the three and nine months ended September 30, 2024 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Mike Maguire, Interim Chief Executive Officer commented on the Corporation’s third quarter 2024 financial and operating results: “I am very pleased that we completed the strategic re-organization of the Corporation in the third quarter, returning a sizeable amount of capital to our shareholders and spinning out the PNG Business to shareholders via High Arctic Overseas Holdings Corp. listed on the TSX Venture Exchange. The acquisition and integration of Delta Rental Services has delivered positive adjusted EBITDA and cash generation. We have commenced cost rationalization, particularly focussed on general and administrative costs along with overhead cost reduction initiatives. Combined with our equity investment in Team Snubbing and owned real estate, High Arctic is positioned as an attractive vehicle for future growth and transactions.” 2024 THIRD QUARTER HIGHLIGHTS  Completed the re-organization of High Arctic including the return of $37.8 million to shareholders and the spinout of the PNG Business as High Arctic Overseas Holdings Corp., independently listed on the TSX Venture Exchange.  Increased revenue from operations from $2.3 million to $8.0 million year to date on a comparative basis as a result of the Delta Acquisition.  Exited Q3 2024 with net positive working capital of $4.9 million and access to $4.1 million of cash at bank.  Reconciled and took action to reduce general and administrative costs, including a sizeable reduction in board cost and director compensation.  Progressed post-reorganization transitional arrangements towards establishing dedicated stand-alone leadership of the Corporation. 2024 THIRD QUARTER RESULTS  Increased revenue from continuing operations by $1,491 or 147% in the quarter when compared to revenue of $1,015 from Q3 2023 as a result of the impact of the Delta Acquisition on the 2024 results.  Generated net income from continuing operations of $125 in the quarter as compared to $498 in Q3 2023. The decrease is primarily due to the 2023 $615 gain on sale of the nitrogen business, $373 lower interest income with the return of capital to shareholders, and $403 lower equity investment income from Team Snubbing in the quarter.  Achieved positive Adjusted EBITDA from continuing operations of $383 in the quarter versus negative Adjusted EBITDA for Q3 2023 of $700.  Production Service’s 42% equity investment share of Team Snubbing Services Inc. (“Team Snubbing”) net income returned to positive earnings of $105 in the quarter compared to a loss of $889 in Q2 2024 and earnings of $508 in the comparative third quarter of 2023. 2024 YEAR TO DATE RESULTS  Similar to the discrete quarter results, High Arctic’s revenue from continuing operations increased 242% to $8,027 compared to revenue of $2,347 achieved in the first nine months of 2023 as a result of the Delta Acquisition on 2024 results.  Generated a net loss from continuing operations of $1,402 in the quarter as compared to $1,208 in Q3 2023. The higher loss, despite an improvement of $1,323 in operating income, is primarily due to the 2023 $615 gain on sale of the nitrogen business, $262 lower interest income with the July 2024 return of capital to shareholders, and $745 lower equity investment income from Team Snubbing in the year-to-date period.  Achieved strong oilfield services operating margins from continuing operations of 50.6% for the nine months in 2024.  Production Service’s 42% equity investment share of Team Snubbing Services Inc. net loss was $294 for the nine months ended September 30, 2024 as compared to positive net income of $451 in the comparative period in 2023. Regional expansion into Alaska has weighed on earnings during the past twelve months.  Cash from operating activities from continuing operations was $487 in the quarter and a use of $42 for the nine months ended September 30, 2024, an improvement for the quarter as compared to the respective prior year comparatives of $172 and $359.  Significantly lowered the use of funds flow from operations from continuing operating activities as the nine months of 2024 generated a use of funds of $46 compared to a use of funds of $957 for the nine months of 2023 driven by strong operational performance from the Delta Acquisition partially offset by the significant additional G&A expenses incurred in 2024 due to the corporate reorganization initiatives. In the above results discussion, the three months ended September 30, 2024 may be referred to as the “quarter” or “Q3 2024” and the comparative three months ended September 30, 2023 may be referred to as “Q3 2023”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. Additionally, the nine months ended September 30, 2024 may be referred to as “YTD” or “YTD 2024”. References to other nine-month periods ended September 30 may be presented as “YTD 20XX” with XX being the year to which the nine-month period ended September 30 commentary relates. All amounts are expressed as thousands of Canadian dollars. 241114 HAES – News Release – Q3 2024 Results

HAES & High Arctic OHC presentation at Schachter Catch the Energy Conference 2024 HAES & HAOHC 2024 Catch the Energy

CALGARY, Alberta – August 14, 2024, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) has released its’ second quarter financial and operating results. The unaudited consolidated financial statements, management discussion & analysis (“MD&A”), for the three and six months ended June 30, 2024 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at www.haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Completion of Reorganization On June 17, 2024, the Corporation held its Annual and Special General Meeting where the Corporation’s shareholders approved, amongst other things, a special resolution approving a reorganization of the Corporation by way of a plan of arrangement (the “Arrangement”) and a return of capital of up to $0.76 per common share of High Arctic (the “Return of Capital”). Pursuant to the reorganization of the Corporation, the PNG business was spun out to the current High Arctic shareholders through a new publicly listed entity High Arctic Overseas Holdings Corp. (“SpinCo”) that will trade on the TSX Venture Exchange under the trading symbol HOH. On June 27, 2024, the Corporation received a final order approving the Arrangement from the Alberta Court of King’s Bench, and the Return of Capital was distributed to shareholders on July 17, 2024. On August 1, 2024, the Corporation was able to fulfill the last major condition in the Arrangement which was the receipt of conditional approval from the TSX Venture Exchange to have the SpinCo shares trade on its exchange. All other terms and conditions to the Arrangement were satisfied subsequent to receipt of conditional approval from the TSX Venture Exchange and the Arrangement was completed on August 12, 2024 and the final approval from the TSX and TSX Venture exchange was received on August 14, 2024. The shares of SpinCo are expected to commence trading on the TSX Venture Exchange on or about August 16, 2024. Pursuant to the Arrangement, each shareholder of High Arctic received one-quarter of one (1/4) common share of SpinCo and one-quarter of one (1/4) common share of post-Arrangement High Arctic for each common share of High Arctic held. As a result of the Arrangement, each shareholder continues to own its pro rata portion of both SpinCo and post-Arrangement High Arctic. SpinCo’s now stand-alone PNG business begins with intact senior leadership and management, a new and independent Board of Directors , a separate stock exchange listing, a strong capital structure, no long-term debt and positive working capital of approximately US$19 million, including US$13 million in cash. Mike Maguire, Chief Executive Officer commented: “Our businesses in both Canada and PNG have performed well in the first half of 2024, setting up both High Arctic and SpinCo with strong financial positions for the commencement of trading as independently listed companies. I am very pleased to have completed the strategic re-organization of the Corporation and excited to be on the precipice of a new chapter in the High Arctic story as the two entities commence separate trading later this week. Both High Arctic and SpinCo have no net debt and access to cash at bank to finance budgeted activities and provide a platform for growth for each business to realize its potential and maximize value for their shareholders. In Canada the performance of our rental business in the first half of 2024 is in-line with our pre-transaction expectations following the acquisition and integration of Delta Rental Services. Having a cash positive business, when adjusted for re-organization costs, positions High Arctic as an attractive vehicle for future growth and transactions. In PNG Rig 103 completed services and was stacked at the forward base in the Southern Highlands, as expected. We anticipate a period of modest activity, through our rentals and manpower provision, as we await significant strategic decisions on major project advancement now expected in 2025.” Additional Information Pertaining to the Reorganization The Corporation has received final approval today to list the post-Arrangement common shares of High Arctic (the “New High Arctic Common Shares”) on the Toronto Stock Exchange (“TSX”). The existing common shares are expected to be delisted from the TSX as of the close of business on August 15, 2024. The New High Arctic Common Shares are expected to commence trading on the TSX at the market opening on August 16, 2024 and the CUSIP number for the New High Arctic Shares will be “42964L109”. Pursuant to the completion of the Reorganization the Corporation has today terminated its normal course issuer bid arrangement which has been in place since December 13, 2023. With the completion of the reorganization and in accordance with the Arrangement, the Corporation is obliged for Canadian taxation compliance purposes to determine the fair market value of the SpinCo shares. The Corporation and SpinCo have begun the valuation process to determine the fair market value for SpinCo and expects to provide the fair market value of the SpinCo shares to shareholders prior to November 2024. 240814 HAES – Q2 2024 Results