Jay Wilcox

CALGARY, Canada – May 21, 2024 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has conditionally approved the listing on the TSX of the new common shares of High Arctic (“New High Arctic Common Shares”) which will be issued to the shareholders of High Arctic (“Shareholders”) in exchange for their existing common shares (“Common Shares”) pursuant to the terms of the previously announced plan of arrangement (the “Arrangement”) between the Corporation and High Arctic Overseas Holdings Corp. (“SpinCo”). It is a condition of closing of the Arrangement that the TSX conditionally approve the listing of the New High Arctic Common Shares on the TSX or the TSX Venture Exchange (“TSXV”) on completion of the Arrangement. The TSX has also conditionally accepted the previously announced return of capital of up to $38.2 million (up to $0.76 per common share) of High Arctic (the “Return of Capital”). The purpose of the Arrangement is to separate the Corporation’s North American and Papua New Guinea businesses. As at the closing of the Arrangement, which is expected to occur on July 31, 2024, each Shareholder will receive onequarter of one (1/4) common share of SpinCo (“SpinCo Common Share”) and one-quarter of one (1/4) New High Arctic Common Share for each Common Share held. The Arrangement, the Return of Capital, and other resolutions related to the reorganization, as well as annual meeting matters, will be put to the Shareholders for approval at an annual general and special meeting of shareholders of the Corporation to be held in Calgary, Alberta on June 17, 2024 (the “Meeting”). Assuming the required Shareholder approval is obtained at the Meeting, the Return of Capital is expected to be distributed to Shareholders prior to the closing of the Arrangement. The Arrangement remains subject to the satisfaction of closing conditions, including the final approval of the listing of the New High Arctic Common Shares by the TSX, the approval of the listing of the SpinCo Common Shares on the TSXV, and final approval of the Arrangement by the Court of King’s Bench of Alberta. For more information on the Arrangement and the Return of Capital, please see the information circular dated May 9, 2024 in respect of the Meeting, available on the Company’s SEDAR+ profile at www.sedarplus.com. About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada, High Arctic provides pressure control 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, please contact: Lonn Bate Interim Chief Financial Officer 1.587.318.2218 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca 240521 – HAES NR – Conditional Approval

CALGARY, Alberta – May 15, 2024, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ first quarter financial and operating results. The unaudited consolidated financial statements, management discussion & analysis (“MD&A”), for the quarter ended March 31, 2024 will be available on SEDAR+ at www.sedarplus.ca, and on High Arctic’s website at haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Intention to Return Capital and Reorganize On May 11, 2024 the Corporation announced the Annual General and Special Meeting of Shareholders to be held in Calgary, Alberta on June 17, 2024 (the “Meeting”). The meeting has been called by the High Arctic Board of Directors for the purpose of holding a shareholders vote on the separation of the Corporation’s North American and Papua New Guinea (“PNG”) businesses, by way of a court-approved plan of arrangement (the “Arrangement”), as well as a distribution of surplus cash to shareholders by way of a return of capital of up to $0.76 per common share ( up to $38.2 million) of High Arctic (the “Return of Capital”). The Arrangement will transfer High Arctic’s PNG business to a separate, dedicated, and independent, publicly traded company named High Arctic Overseas Holdings Corp. (“SpinCo”), while High Arctic will continue to own and operate the Corporation’s existing North American Business. Each of the two companies will have its own management and operational teams and a separate Board of Directors. Under the proposed Arrangement, each shareholder of High Arctic will receive 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 will continue to own its pro rata portion of both SpinCo and post-Arrangement High Arctic. The Arrangement, the Return of Capital, and other resolutions related to the reorganization, as well as annual meeting matters, will be put to the Shareholders for approval at the Meeting. Both the Arrangement and the Return of Capital will require two thirds (2/3) of all votes cast in favour to pass. Mike Maguire, Chief Executive Officer commented: “Our businesses in both Canada and PNG have had very solid starts to 2024. Our recent acquisition and amalgamation of Delta Rental Services in Canada has delivered financial performance in line with our pretransaction expectations and we anticipate further improvement as we move out of integration phase and optimize equipment cross-deployment. In PNG Rig 103 has delivered another high-quality quarter of drilling activity ahead of its suspension and stacking which will be completed in Q2 2024. I am pleased to have finally published the details of our long-anticipated reorganization and the associated tax efficient Return of Capital to shareholders. I am excited about the opportunities that this can unlock for the two distinct and separate businesses. Mail-out of meeting materials to shareholders is underway and I encourage all shareholders to read the materials which detail the reasons supporting the Arrangement, key dates and the processes available for voting. The PNG business will be owned by a new publicly listed Canadian company with operations focussed on PNG. High Arctic will retain the Canadian assets which have been strengthened with the addition of Delta Rental Services and is an attractive vehicle for future growth and transactions. The Board and Management of High Arctic unanimously recommend that all shareholders vote in favour of all resolutions at the meeting.” In the following discussion, the three months ended March 31, 2024 may be referred to as the “quarter” or “Q1 2024” and the comparative three months ended March 31, 2023 may be referred to as “Q1 2023”. References to other quarters may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. 2024 FIRST QUARTER HIGHLIGHTS  Seamless integration of the Delta business with the legacy High Arctic rental business that now operates under the Delta Rental Services banner with first quarter results in line with expectations, and potential for upside from deploying underutilized assets into our expanded geographical coverage in Alberta.  Realized a fourth continuous quarter of full utilization of PNG Rig 103 and with performance in Q1 2024 consistent with the second half of 2023.  Improved liquidity with a working capital balance of $67.5 million, which includes a cash balance of $57.3 million, and long-term debt of $3.5 million.  Generated Adjusted EBITDA from continuing operations of $4.5 million on revenue of $18.0 million.  Achieved net income of $3.5 million or $0.07 per share on a fully-diluted basis.  Strong Q1 2024 operational performance from Team Snubbing resulted in $0.5 million in income from equity investments from High Arctic’s 42% equity investment. 2024 Strategic Objectives High Arctic’s 2024 Strategic Objectives build on the platforms created and directions taken in 2023, and include:  Continued relentless focus on safety excellence and quality service delivery,  Distribute surplus capital and prepare for the spin out of the PNG business to shareholders,  Create appropriate capital and corporate structures for the current businesses, that provide the opportunity to consider transactions which would create value for the Corporation’s shareholders,  Grow the core businesses through selective and opportunistic investments,  Steward capital to preserve balance sheet strength and financial flexibility, and  Execute accretive acquisitions in Canada that allow the Corporation to optimize its available tax loss carryforwards. Q1 2024 Investor Conference Call A High Arctic investor conference call is schedule to begin at 11:00 am MT (1:00 pm ET) on Thursday, May 16, 2024. The conference call dial in numbers are 1-800-898-3989 or 416-340-2217 and the participant passcode is 6026512#. Participants joining from outside North America can find International dial-in numbers at: https://www.confsolutions.ca/ILT?oss=7P1R8009525114 An archived recording of the conference call will be available approximately two hours after the call ends by dialing 1- 800-408-3053 and entering passcode 8446938# will remain available until June 15, 2024. An audio recording of the conference call will also be available within 24 hours on … Read more

CALGARY, Alberta – May 13, 2024 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) intends to release its 2024 first quarter results on Wednesday, May 15, 2024 after markets close and has scheduled a conference call to begin at 11:00 am MT (1:00 pm ET) on Thursday, May 16, 2024. The filing of the 2024 first quarter results follows our announcement of May 11, 2024 for the reorganization to create two publicly traded energy services companies and return of capital to shareholders at an Annual General and Special Meeting of Shareholders on June 17, 2024. The conference call dial in numbers are 1-800-898-3989 or 416-340-2217 and the participant passcode is 6026512#. Participants joining from outside North America can find International dial-in numbers at: https://www.confsolutions.ca/ILT?oss=7P1R8009525114 An archived recording of the conference call will be available approximately two hours after the call ends by dialing 1-800-408-3053 and entering passcode 8446938# will remain available until June 15, 2024. An audio recording of the conference call will also be available within 24 hours on High Arctic’s website. The Corporation’s First Quarter Interim Financial Statements and Management’s Discussion & Analysis will be posted to High Arctic’s website and SEDAR+ after the results are released which is expected to be after market close on May 15, 2024. About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada High Arctic provides pressure control 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, please contact: Lonn Bate Interim Chief Financial Officer 1.587.318.2218 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca 240513 HAES Q1 2024 Investor Call Dial in Details

CALGARY, Canada – May 11, 2024 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that its Board of Directors (“Board”) has unanimously approved the reorganization of High Arctic to separate the Corporation’s North American and Papua New Guinea (“PNG”) businesses, by way of a court-approved plan of arrangement (the “Arrangement”), as well as a distribution of surplus cash to shareholders by way of a return of capital of up to $38.2 million (up to $0.76 per common share) of High Arctic (the “Return of Capital”). The Arrangement will transfer High Arctic’s PNG business to a separate, dedicated, and independent, publicly traded company named “High Arctic Overseas Holdings Corp.” (“SpinCo”), while High Arctic will continue to own and operate the Corporation’s existing North American Business. Each of the two companies will have its own management and operational teams and separate Board of Directors. Under the proposed Arrangement, each shareholder of High Arctic (“Shareholder”) will receive one-quarter of one (1/4) common share of SpinCo (“SpinCo Common Share”) and one-quarter of one (1/4) common share of post-Arrangement High Arctic for each common share of High Arctic held. The Arrangement, the Return of Capital, and other resolutions related to the reorganization, as well as annual meeting matters, will be put to the Shareholders for approval at an annual general and special meeting of shareholders of the Corporation to be held in Calgary, Alberta on June 17, 2024 (the “Meeting”). As a result of the Arrangement, each Shareholder will continue to own its pro rata portion of both SpinCo and post-Arrangement High Arctic. Strategic Rationale High Arctic’s Board and management are of the view that the Corporation has historically been unable to derive appropriate value from the market that represents the sum of the parts. The Corporation has also found a lack of synergy between the businesses in PNG and Canada. In separating the PNG business from the Corporation, High Arctic’s Board and management believe value can be created for the Shareholders. For the holders of SpinCo Common Shares, separation provides the opportunity for SpinCo to consider transactions with a wider group of PNG focused companies, and greater flexibility to relocate in the future to a market that better understands PNG and is likely to ascribe greater value to SpinCo. For the holders of post-Arrangement High Arctic common shares, the transaction opens-up opportunities for High Arctic to participate in Canadian M&A activity where the PNG business may have been perceived as an impediment to accretive transactions. For years the Corporation has both pursued or entertained potential business combination transactions. The distinctly different profiles of the North American and PNG businesses have proven to be the main impediment to identifying transactions acceptable to all parties and in the best interests of Shareholders. Finding unique companies desirous of being linked to both distinct businesses has proven unsuccessful. Companies to whom association with our North American Business may be attractive are a distinctly broader group and do not overlap with the international companies with whom the PNG business and its risk profile may fit well. Board and management unanimously agree that the separation of these two businesses will ensure that management is dedicated to enhancing the value of each business and accessing new pathways to transformative and accretive transactions that are currently inaccessible.   Benefits to Shareholders Certain of the expected benefits to Shareholders of the Arrangement are as follows:  The benefits of dividing the Corporation into its distinct businesses;  Each company will be owned by Shareholders on a pro rata basis with reference to the number of High Arctic Common Shares held prior to the Arrangement;  The Arrangement is expected to improve the market’s identification and valuation of each company and allow Shareholders, investors and analysts to more accurately compare, evaluate and value each of the companies on a stand-alone basis against appropriate peers, benchmarks and performance criteria specific to that company;  Each company will have independent access to capital (equity and debt) which management believes will result in optimal capital allocation;  The procedures by which the Arrangement is to be approved, including the requirement for approval of the Arrangement by the Court after a hearing at which fairness to the Corporation’s securityholders will be considered;  The Corporation has received the financial Fairness Opinion (defined below);  The availability of rights of dissent to Shareholders with respect to the Arrangement; and  The tax treatment of the Arrangement is expected to be tax efficient for Canadian tax purposes for most shareholders. Board and Management of High Arctic and SpinCo The Hon. Joe Oliver has informed the Corporation that he does not intend to stand for re-election as a director at the Meeting and will resign on May 15, 2024. Mr. Oliver has served as a director of High Arctic for eight years, and his intention to resign coincides with the Arrangement and the setting of a new strategic direction for the remaining Corporation, which he supports. Michael Binnion, High Arctic’s Chairman stated: “On behalf of the Board, I would like to thank the Honorable Joe Oliver for his dedication and commitment to High Arctic during his tenure. Joe has played an important role in the evolution of High Arctic including the challenges of a global pandemic and a rebuilding of the businesses that sets the stage for a new and independent future. We wish Joe all the very best.” Upon completion of the Arrangement and election or re-election by Shareholders at the Meeting, the Board of High Arctic will consist of: Simon Batcup (Chair) Douglas Strong Michael Binnion Craig Nieboer The management of High Arctic will consist of: Michael Maguire (Interim CEO) Lonn Bate (CFO) Trevor Barker (GM Operations) Justin Morrical (Business Development Manager) High Arctic is actively pursuing permanent CEO placement options. If the Arrangement is approved, Mr. Maguire will assume the role in an interim capacity and transition duties to a new CEO appointed by the Board. The management … Read more

CALGARY, Canada – April 8, 2024, 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, 2023 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at haes.ca. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. The Corporation provided an update today on the intention to issue shareholders a tax efficient return of capital to a maximum of $38.2 million and plan to reorganize the Corporation at a special meeting of the Shareholders. The recommendation to reorganize is expected to include the following elements: – a spinoff of the international business to shareholders as a Canadian publicly listed company, – maintaining the Corporation as a Canadian publicly listed company focused on growing the Canadian business, – distribution of a return of capital to shareholders of between $33.0 million and $38.2 million before July 26, 2024, and – right-sizing the general and administrative infrastructure to align with the new corporate structure. The Corporation is working with DLA Piper (Canada) LLP as legal advisor and Lightyear Capital Inc. as financial advisor on the revised reorganization plan. The completion of which will be subject to Board, stock exchange, applicable regulatory and shareholder approval at a special meeting of the Shareholders to be held before the end of June 2024. Mike Maguire, Chief Executive Officer commented: “Our businesses in both Canada and PNG have finished the year with a solid quarter and we made an exciting acquisition with the purchase and amalgamation of Delta Rental Services in Canada. Following the receipt of feedback from our shareholders and consultation with our advisors, I am excited to provide today’s update on the path the Board intends to take in order to reorganize the Corporation and release a tax-efficient return of cash to shareholders. The proposed spin-off of the Papua New Guinean business as a publicly listed Canadian company will allow senior management to concentrate where we have had the most success in the past. The remaining publicly listed company with the Canadian assets has been further strengthened with the addition of Delta Rental Services and becomes an attractive vehicle for future growth and transactions. I continue to believe our customers and employees in both PNG and Canada will appreciate and benefit from locally managed businesses.” Expectations that Rig 103 drilling activity will be concluded by the end of June 2024 have been confirmed with the receipt of formal notice from High Arctic’s principal customer in PNG of its intention to suspend drilling operations and cold stack Rig 103 at the conclusion of this final approved well on the Rig 103 drilling schedule. The Corporation remains engaged with its principal customer on planning for 2025 drilling activity. Further, the PNG Government and Papua- LNG operator TotalEnergies have released a joint statement advising that the FID of the Papua-LNG project is now expected in 2025. In the following discussion, the three months ended December 31, 2023 may be referred to as the “Quarter” or “Q4 2023”, and similarly the year ended December 31, 2022 may be referred to as “YTD 2022”. The comparative three months ended December 31, 2022 may be referred to as “Q4 2022” 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. 2023 Highlights The following highlights the Corporations results for Q4 2023 and YTD 2023: – Acquired Delta late in Q4 2023 which expanded High Arctic’s geographical coverage in Alberta and offers both operational synergies and potential for cross deployment of underutilized assets in the Canadian rentals business. – Realized a third continuous quarter of full utilization of PNG Rig 103 in Q4 2023, pursuant to a 3-year contract that was renewed in 2022. – Improved liquidity with a working capital balance of $63.0 million, which includes a cash balance of $50.3 million, and long-term debt of $3.5 million. – Generated Adjusted EBITDA from continuing operations of $11.8 million in FY 2023 and $3.2 million in Q4 2023. – Realized a net loss from continuing operations of $12.8 million in FY 2023 and net income from continuing operations of $2.7 million in Q4 2023. The loss was primarily due to a non-cash impairment loss of $20.5 million on PNG asset carrying values. – Sold the Corporation’s Canadian Nitrogen transportation, hauling and pumping services business for cash consideration of $1.35 million. 2024 Strategy High Arctic’s 2024 Strategic Objectives build on the platforms created and directions taken in 2023, and include: –  Continued relentless focus on safety excellence and quality service delivery, – Distribute surplus capital and prepare for the spin out of the PNG Business to shareholders, – Create appropriate capital and corporate structures for the current businesses, that provide the opportunity to consider transactions which would create value for the Corporation’s shareholders, – Grow the core businesses through selective and opportunistic investments, – Steward capital to preserve balance sheet strength and financial flexibility, and – Accretive acquisitions in Canada that allow the Corporation to optimize its available tax loss carry-forwards. 2023 Strategic Objectives and Accomplishments Through 2023, High Arctic continued its relentless focus on quality and remains driven to be recognized as a trusted service provider in the energy industry. High Arctic works towards this by defining and measuring results against strategic priorities. Our 2023 strategic priorities and highlights of progress include: – Safety excellence and quality service delivery: o High Arctic extended its recordable incident free activity in PNG to 7 years and over 3.5 million work hours. o In Canada, High Arctic completed 2023 without any recordable incidents, contributing to the Corporation’s first calendar year with a zero Total Recordable Incident Frequency (“TRIF”) Rate. – Return idled assets to service in PNG: o Successfully reactivated Rig 103 and returned … Read more

CALGARY, Alberta  April 3, 2024 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) intends to release its 2023 fourth quarter and full year results after markets close Friday, April 5, 2024 and has scheduled a conference call to begin at 15:00 pm MT (17:00 pm ET) on Monday, April 8, 2024. The late filing of the 2023 fourth quarter results follows delays in concluding the annual financial statement audit of the Corporation’s business in Papua New Guinea. The conference call dial in numbers are 1-800-806-5484 or 416-340-2217 and the participant passcode is 7925114#.  Participants joining from outside North America can find International dial-in numbers at: https://www.confsolutions.ca/ILT?oss=7P1R8009525114 An archived recording of the conference call will be available approximately two hours after the call ends by dialing 1-800-408-3053 and will remain available until April 30, 2024. An audio recording of the conference call will also be available within 24 hours on High Arctic’s website. The Corporation’s annual 2023 disclosure filings including Financial Statements and Management’s Discussion & Analysis will be posted to High Arctic’s website and SEDAR after the results are released. About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada, High Arctic provides pressure control 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, please contact: Mike Maguire Chief Executive Officer 1.587.318.3826 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca

CALGARY, Alberta – January 11, 2024 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the results of the Special General Meeting of the shareholders of High Arctic held on January 10, 2024 (the “Meeting”). Four shareholders holding a total of 31,634,269 common shares of the Corporation were represented at the Meeting in person or by proxy, representing approximately 64.399% of the total votes attached to all issued and outstanding common shares of the Corporation as of the record date on December 4, 2023. The Meeting was held in response to a shareholder meeting requisition (the “VN Requisition”) from VN Capital Management, LLC (“VN Capital”), as beneficial owner of not less than 5% of the issued and outstanding shares of the Corporation, requesting that the directors of the Corporation call a meeting of the shareholders for the purpose of (a) removing the Chairman of the Board of Directors of the Corporation and; (b) if the removal resolution is approved, to elect a replacement director. Management of the Corporation nominated Mr. Michael Maguire, the CEO of the Corporation, to fill the vacancy in the event that the removal resolution was passed. VN Capital nominated three individuals for that purpose, Mr. Harvey Joel, Ms. Maryse C. Saint Laurent, and Mr. Richard Kreger. The removal resolution was defeated by a majority of the shareholders with 26,638,770 or 84.342% of the votes cast by High Arctic shareholders voting against the removal of the Chairman of the Board of Directors of the Corporation. In addition, the shareholders approved a resolution fixing the number of directors at four with 27,893,834 or 88.176% of the votes cast by High Arctic shareholders. Accordingly, there was no director vacancy, and no new director was elected at the Meeting. CEO of High Arctic, Mike Maguire stated “The defeat of the removal resolution at the meeting demonstrates clear support for our Chairman, who elected not to vote his shares, as well as for the Corporation’s Board and Management. We will now recommence work with the Corporation’s advisors towards a reorganization that possibly separates the Canadian and Papua New Guinean businesses, including the possible return of surplus cash to shareholders by way of a tax efficient return of capital.” About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada High Arctic provides pressure control 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, please contact: Mike Maguire Chief Executive Officer 1.587.318.3826 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca 240110 – HAES – Results of Special Meeting of Shareholders

CALGARY, Alberta – December 28, 2023, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that today it has closed the acquisition of Delta Rental Services Ltd. (“Delta”) for aggregate purchase consideration of $7 million subject to earn-out provisions, pursuant to a Share Purchase Agreement between High Arctic and the shareholders of Delta (the “Delta Acquisition”). Delta is a privately owned rentals company headquartered in Red Deer, Alberta, Canada, founded in 2016. Delta’s business is focussed on pressure control equipment and equipment supporting the highpressure stimulation of oil and gas wells, along with other well site rental equipment. Delta supports a range of customers including top-tier multi-national and domestic energy producers and their contractors. The Delta Acquisition includes all of the assets, personnel and contracts of Delta including the retention of their current yard and office lease in Red Deer. The consideration includes $3.43 million in cash paid at closing with the remaining $3.57 million payable as 75% in cash and 25% in High Arctic common shares to the selling shareholders as an earn-out over three years, subject to achieving certain financial performance targets. Each annual earn-out payment is adjusted up or down depending upon the amount of over or under performance of the Delta business to the targets. Issuance of the common shares pursuant to the earn-out would be subject to regulatory approvals including the approval of the Toronto Stock Exchange (“TSX”). In its most recently completed financial year, Delta recorded over $8 million in revenue at margins consistent with High Arctic’s Canadian business. The total consideration represents a 3 – 3.5x multiple of the Corporation’s estimated annual after-tax cash flow contribution from Delta. Mike Maguire, CEO of High Arctic, said “Delta is an important strategic development for High Arctic. We are excited to be bringing co-founder Mr. JD Morrical and the Delta team into High Arctic. The Delta brand is a strong one synonymous with quality and service. The combination of Delta and High Arctic expands geographical coverage in Alberta and offers both operational synergies and potential for cross deployment of underutilized assets. I am confident the combined HAES Rentals and Delta team will deliver performance greater than the sum of its parts.” “The Delta Acquisition addresses strategic objectives of scaling our Canadian business and pursuing opportunities for growth that enhance shareholder value. The Delta Acquisition is expected to increase Canadian revenues three to four-fold and contribute strongly to positive cash flow. The Delta Acquisition contemplates, and the structure of the consideration is reflective of, High Arctic’s intention to reorganize and separate the Canadian and PNG businesses and maximize a return of capital to shareholders. I am confident that this transaction is symbolic of the prospects for a purely Canadian entity and how additional accretive transactions can be unearthed.” JD Morrical, President of Delta, said “I am keen to start the next part of the Delta story as a substantive part of High Arctic’s Canadian business. We have enjoyed a good relationship with the HAES Rentals team built on mutual respect and shared values. I am very happy that the small business that Scott Odegard and I created has grown to the point that High Arctic wants us to be part of their group. It also represents a cash realization as we honor Scott, his family, and transition the business with his passing in 2021. I am thankful for the support of our loyal customers and staff who are more like family to us, and I am glad that they will all become part of the High Arctic team. I look forward to playing a key leadership role in forging these two rentals businesses together and continuing their growth.” Non-GAAP Measures High Arctic uses certain performance measures that are not recognizable under International Financial Reporting Standards (“IFRS”). These performance measures include cash flow and after-tax cash flow. Management believes that this measure provides supplemental financial information that is useful in the evaluation of High Arctic’s operations. Readers should be cautioned, however, that these measures should not be construed as alternatives to measures determined in accordance with IFRS as an indicator of High Arctic’s performance. The Corporation’s method of calculating these measures may differ from that of other organizations and, accordingly, these may not be comparable. Forward-Looking Statements This press release contains forward-looking statements. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “seek”, “propose”, “estimate”, “expect”, and similar expressions are intended to identify forward-looking statements. Such statements reflect the Corporation’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the Corporation’s actual results, performance or achievements to vary from those described in this press release. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, estimated or expected. Specific forwardlooking statements in this press release include, but are not limited to, statements pertaining to the following: the expected benefits of the Delta Acquisition; the expected operational synergies; the expected deployment of underutilized assets; the expected performance of the combined rental business; the estimated annual after-tax cashflow contribution from Delta; the anticipated scaling and growth of High Arctic’s Canadian business; the expected increase in Canadian revenues; the Corporation’s ability to unearth future accretive transactions; the issuance of the common shares pursuant to the earn-out; and the Corporation’s ability to obtain TSX and other regulatory approvals for the issuance of the common shares. The Corporation’s actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth above and elsewhere in this press release. The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. These statements are given only as of the date of this press release. The Corporation does not assume any obligation to update … Read more

CALGARY, Alberta – December 20, 2023, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that the Management Proxy and Information Circular (the “Info Circ”) for the special meeting of shareholders to be held on January 10, 2024 has been printed and is being mailed out to Shareholders. On October 20, 2023, the Corporation received a shareholder meeting requisition notice (the “VN Requisition”) from VN Capital Management, LLC, as beneficial owner of not less than 5% of the issued and outstanding shares of the Corporation, requesting that the directors of the Corporation call a meeting of the shareholders for the purpose of (a) removing the Chairman of the Board of Directors of the Corporation and; (b) if the removal resolution is approved, to elect a replacement director. The Board of Directors (with the abstention of the Chairman) has addressed the public assertions of VN Capital Management, LLC in a letter to shareholders accompanying the Info Circ. The Directors believe that the Chairman is integral to the sound governance and competent leadership of High Arctic and have unanimously recommended in the Info Circ that shareholders vote against his removal, and withhold votes for the nominees of VN Capital Management, LLC. A copy of the Info Circ and the Form of Proxy for the special meeting has been filed in the Corporation’s profile on www.sedarplus.ca and may also be downloaded from the Investor Center on the High Arctic website haes.ca/investors/. About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada High Arctic provides pressure control equipment on a rental basis to exploration and production companies. For further information, please contact: Mike Maguire Chief Executive Officer 1.587.318.3826 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca 231220 High Arctic Announces Mailout of Shareholder Materials

CALGARY, Canada – December 13, 2023 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce that it has made the necessary filings and received the necessary approvals to conduct a normal course issuer bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”). The TSX has accepted the Corporation’s notice to conduct the NCIB to purchase outstanding common shares of the Corporation on the open market, in accordance with the rules of the TSX. As approved by the TSX, the Corporation is authorized to purchase up to 1,000,000 common shares. The Corporation can apply for additional purchases to a maximum amount under the NCIB representing the higher of 10% of the public float and 5% of the issued and outstanding shares of High Arctic. There were 49,122,302 common shares outstanding as of December 5, 2023. The TSX also limits the maximum number of common shares that High Arctic may purchase on any given day to 25% of the average daily trading volume of common shares on the TSX for the six-month period prior to NCIB approval. For the six-month period ended November 30, 2023, the average daily trading volume of High Arctic shares was 18,669 leading to a daily NCIB purchase limit of 4,667 common shares. Subject to prescribed rules, High Arctic may also make one block repurchase in any five-day period which exceeds the daily limit. The Corporation is authorized to make purchases during the period from December 15, 2023 to December 14, 2024, or until such earlier time as the NCIB is completed or is terminated at the option of the Corporation. Any common shares the Corporation purchases under the NCIB will be purchased on the open market through the facilities of the TSX and/or Canadian alternative trading systems, at the prevailing market price at the time of the transaction. The Corporation has appointed an independent brokerage agent to conduct the NCIB transactions under an automatic purchase plan agreement (“APPA”). The APPA will allow the broker to purchase common shares under the bid during internal blackout periods when the Corporation would normally not be permitted to trade in its shares. Such purchases will be at the sole discretion of the broker based on direction received from High Arctic prior to any blackout period and in accordance with all regulatory and securities law. All common shares acquired under the NCIB will be cancelled. The Corporation believes that from time to time the market price of High Arctic common shares may not reflect their underlying value and that, at such times, the purchase of common shares for cancellation will increase the proportionate interest of, and be advantageous to, all remaining shareholders. In addition, the purchases by High Arctic under the NCIB may increase liquidity to the Corporation’s shareholders wishing to sell their common shares. The Corporation’s previous NCIB will expire on December 14, 2023, and under that program, a total of 18,296 common shares at a weighted average price of $1.37 per share were repurchased for cancellation. The Corporation sought and obtained from the TSX approval to purchase 750,000 common shares of the Corporation under the previous NCIB. About High Arctic High Arctic is an energy services provider. High Arctic is a market leader in Papua New Guinea providing drilling and specialized well completion services and supplies rental equipment including rig matting, camps, material handling and drilling support equipment. In western Canada, High Arctic provides pressure control equipment on a rental basis to exploration and production companies. For further information, please contact: Lonn Bate Interim Chief Financial Officer 1.587.318.2218 1.800.668.7143 High Arctic Energy Services Inc. Suite 2350, 330–5th Avenue SW Calgary, Alberta, Canada T2P 0L4 website: haes.ca Email: info@haes.ca 231213 Press Release – 2023 NCIB Renewal for 2024