News Releases

Calgary, Alberta, January 16, 2023: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” is pleased to announce that it has closed the sale of its Canadian well servicing business (“Well Servicing Transaction”) on receipt of the final cash payment of $28.0 million earlier today. The Corporation repaid $3.6 million of mortgage principal related to the real estate properties included in the Well Servicing Transaction during December 2022. The Well Servicing Transaction was announced by the Corporation on July 18, 2022 with an effective date of July 29, 2022. The sale was transacted through an asset purchase agreement for an aggregate sale price of $38.2 million in cash, of which $10.2 million was previously received on July 28, 2022. The receipt of the funds today further strengthens High Arctic’s financial position. Cash balances, less mortgage liabilities and bank debt, exceed $42 million as of January 16, 2022. This strong cash position provides High Arctic with flexibility to fund business development and further its track record of shareholder returns. Over the past ten years High Arctic has carried a conservative capital structure while returning significant shareholder value through dividends and share buybacks of approximately $110 million. 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 nitrogen services and pressure control equipment on a rental basis to exploration and production companies. For further information, please contact: Lance Mierendorf, 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 mail: info@haes.ca 230116 – PR – 2nd Closing – PD Asset Sale

CALGARY, Canada – December 13, 2022 – 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 750,000 common shares, or approximately 1.5% of the currently issued and outstanding shares of High Arctic. The Corporation can apply to purchase additional shares pursuant to the NCIB up to a maximum amount representing the greater of 10% of the public float and 5% of the issued and outstanding shares of High Arctic. There were 48,716,769 common shares outstanding as of December 5, 2022. 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 period ended November 30, 2022, the average daily trading volume of High Arctic shares was 23,742 leading to a daily NCIB purchase limit of 5,936 common shares. Subject to prescribed rules, High Arctic may also make one block repurchase per calendar week which exceeds the daily limit. The Corporation is authorized to make purchases during the period from December 15, 2022 to December 14, 2023, 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 or alternative Canadian markets, 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”) dated December 13, 2022. 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 expires on December 14, 2022, and under that program, a total of 16,376 common shares at a weighted average price of $1.40 per share have been repurchased for cancellation. 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 nitrogen services and pressure control equipment on a rental basis to exploration and production companies. For further information, please contact: Lance Mierendorf 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 221213 – PR – NCIB Renewal

CALGARY, Canada – November 10, 2022, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ third quarter results today. Mike Maguire, CEO of High Arctic, commented: “Papua New Guinea is key to High Arctic’s long-term business strategy. There have been significant LNG commitments in PNG made by large oil and gas companies and High Arctic is positioned well to support our customers’ future investments. Over fifteen years High Arctic has developed the logistics expertise and trained local workforce required to operate the heli-portable drilling rigs in otherwise inaccessible PNG locations. As our long-term investors know, PNG is a market where we have developed a strong position with potential for higher profits and free cash flow. In the past this has funded corporate growth and shareholder returns. The divestment of our Canadian Production Services segment this quarter allows us to focus on putting rigs back to work in PNG. We are currently providing services to both our principal customer and the PNG-LNG operator, and we are looking forward to returning to consistent drilling operations following an exceptional period of Covid driven activity suspension. The Corporation continues to look at the capital allocation decision in relation to its current and expected significant cash balances. This may include a return of capital to shareholders or reinvestment in the business.” Highlights The following highlights the Corporations results for Q3-2022 and YTD-2022: • During the Quarter, High Arctic made a strategic shift to capitalize on opportunities and focus on developments in its core market of Papua New Guinea while resetting its long-standing energy service presence in Canada. o Disposed of Canadian well servicing business for cash consideration, originally acquired in 2016 o Consolidated snubbing industry in Canada through disposal of snubbing business for an equity interest and note receivable in acquiring company o Renewed a key drilling services contract in PNG as the country begins early-stage reactivation of upstream activity in its largest commodity export, liquified natural gas o Carried forward in Canada with active Rental and Nitrogen Services businesses o Built upon its record of shareholder returns with dividend payments of $731, and o Delivered safety excellence and ESG alignment with a customer portfolio of high-quality operators. • Preparations to return to drilling in PNG with Rig 103 progressed, adding an upgrade of the topdrive, enhancing the rigs drilling capability. Rig 103 is expected to commence drilling operations by the end of the first quarter of 2023. • High Arctic maintained a strong financial position, with working capital of $65,434 including $23,386 cash, $12,101 accounts receivable, $28,000 asset sale receivable (due in January 2023), and total debt of $7,860 as at September 30, 2022. Outlook High Arctic has taken transformative actions this quarter which will allow the Corporation to focus on the emerging opportunities to deploy drilling assets in Papua New Guinea, while maintaining exposure to the Canadian Energy Services market. High Arctic believes that the fundamentals for sustained high LNG demand, particularly in Asia, positions PNG for substantive LNG export growth, and the drilling required to realize this has the potential to exceed our past activity peaks. On August 1, 2022 High Arctic entered into a three-year contract renewal covering customer owned Heli-portable Rig 103 and High Arctic’s services related to the supply of personnel, camp accommodation and rental equipment to support the drilling operations in PNG. Work is currently underway to prepare Rig 103, including an upgrade of its topdrive, for recommencement of drilling early in 2023. High Arctic anticipates Rig 103 will operate consistently through the term of the contract. This cornerstone contract is flexible and scalable to align with activity, which positions High Arctic to respond quickly to future incremental drilling opportunities associated with LNG expansion. While the contract for customer owned Rig 104 was not renewed at that time, High Arctic is optimistic for future contracts with third-party customers in the coming activity cycle. High Arctic maintains active dialogue with the management of all the active energy companies in PNG, towards understanding their project timeframes and plans for drilling activity utilizing High Arctic’s owned rigs. The Corporation expects an additional drilling rig deployment in the 1st half of 2023 and is optimistic about further activity increases by the end of next year. The advancement of the TotalEnergies led Papua-LNG project’s front-end-engineering-and-design continues to progress and has recently included public forums outlining plans for early-works and overall project timelines around a final investment decision on the two-train Papua-LNG project in the 2nd half of 2023. Earlier this year ExxonMobil, operator of the PNG-LNG joint venture, announced the signing of a gas agreement for the development of the P’nyang gas field in the Western Province of PNG, which is anticipated to result in the addition of another train to the world class PNG-LNG export facility. These developments underpin our optimism of an expanding PNG energy sector and increasing future demand for our people, equipment and expertise. In Canada, the post-closing transitional activities have progressed smoothly with the buyers of Concord Well Servicing and High Arctic’s snubbing division. The consolidated Team Snubbing Services has already increased market share, with deployed services exiting Q3-2022 exceeding the sum of the two parts in 2021. Team’s dominant market position and service quality has immediately driven pricing improvements and margin growth. Streamlining of the management support structure of High Arctic’s remaining Canadian business is well underway and has been consolidated for efficient operation of our pressure control focused HAES Rentals and Nitrogen pumping services. Management remains attentive to opportunities to best realize a return on the investments in these Canadian service lines, and the dormant snubbing assets in the USA. Commensurate with these efforts is an exploration of growth financing options levered off the Corporations assets in PNG. Strategy Strategic priorities build on High Arctic’s core values, code of business conduct and fiscal discipline, including: • Safety excellence and quality service delivery, • Actions aimed at generating free cash flow including: • Increased utilization of the Corporation’s world-class fleet of … Read more

Calgary, Alberta, November 7, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” intends to release its 2022 third quarter results on Thursday, November 10, 2022 after markets close and has scheduled a conference call to begin at 2:00 pm MT (4:00 pm ET) on Friday, November 11, 2022. The conference call dial-in numbers are 1-800-952-5114 or 416-641-6104 and the participant passcode is 6534880#. 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 December 16, 2022. An audio recording of the conference call will also be available within 24 hours on High Arctic’s website. The Corporation’s Third Quarter 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 nitrogen services and pressure control equipment on a rental basis to a number of exploration and production companies. For further information, please contact: Lance Mierendorf,  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

Calgary, Alberta, September 21, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” is pleased to announce that its Board of Directors has approved a monthly dividend payment of $0.005 per share to holders of common shares. The dividend is payable on October 14, 2022 to holders of High Arctic common shares of record at the close of business on September 30, 2022. The dividend is designated as an “eligible dividend” for Canadian Income Tax purposes. 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 nitrogen services and pressure control equipment on a rental basis to exploration and production companies. For further information, please contact: Lance Mierendorf 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 September 2022 High Arctic Declares Monthly Dividend

CALGARY, Canada – August 11, 2022, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ second quarter results today. Mike Maguire, Chief Executive Officer commented: “The sale of our Canadian well servicing business provided a compelling opportunity to monetize a substantive part of our business rooted in a competitive market with lower operating margins. The transaction with Team Snubbing creates a contractor of scale with a high margin bespoke offering capable of generating profits in the Canadian energy services sector and positioned for growth internationally. As a result, High Arctic can focus on the growth opportunities we expect to see materialize in PNG. The announcements this year of key developments in both the Papua LNG project and for the PNG-LNG joint venture’s P’nyang gas field has the country primed for multi-year sustained development and exploration activity. These projects will stimulate drilling and other substantive work activity that requires high quality PNG focused and experienced contractors. High Arctic has a history of success in PNG and is well placed to be a key service provider to each project. High Arctic retains high quality businesses in Canada. The proceeds from the Sale Transactions will provide a means to pursue opportunities in PNG and to optimize the return from the remaining Canadian businesses. The Corporation also has a history of returning surplus cash to shareholders, and we will continue to consider that option.” Highlights The following highlights the Corporations results for Q2-2022 and YTD-2022: • Activity in PNG continued with an increased personnel count to over 200 employees and the successful completion of customer well abandonment work with Rig 115, while maintaining safety excellence. • After the Quarter, High Arctic successfully renewed a 3-year contract for Drilling Services with a core customer in PNG and expects drilling to commence in Q4 2022. • After quarter end on July 27, 2022, the Corporation sold its Canadian well servicing business for an aggregate purchase price of $38.2 million, and also sold its Canadian snubbing business for 42% equity ownership of Team Snubbing Services Inc. (“Team”), the acquiring company, and a note receivable of $3.4 million (“Sale Transactions”). o the Sale Transactions represent the effective divestment of High Arctic’s Production Services segment; o the well servicing business was purchased in August 2016 for $42.8 million in cash and recorded a non-cash bargain purchase gain of $12.7 million, higher than the $8.2 million non-cash impairment recognized on the sale during the Quarter; o the Corporation also recorded a non-cash $7.7 million write-down of deferred tax assets to reflect the divestments of its main Canadian businesses; and o the Corporation retains over $130 million of operating tax loss carry-forward in Canada. • Revenues for Q2-2022 were $25.7 million, an increase of 57% from $16.4 million in Q2-2021, due to higher revenues in each of the Drilling, Ancillary Services and Canadian Production Services segments. • Oilfield operating services margin as a percent of revenue increased in Q2-2022 to 23.1% versus 20.0% in Q2-2021. • Adjusted EBITDA for the three and six-month periods ended June 30, 2022 was $3.1 million and $6.0 million respectively (2021: $0.8 million and $1.7 million, respectively). • Net loss for the three and six-month periods ended June 30, 2022 was $20.3 million and $22.9 million, respectively. High Arctic Energy Services Inc. Q2-2022 Results 2 o Adjusted for removal of one-off impairment and deferred tax write downs, Net loss was $3.9 million and $6.5 million respectively, lower compared to $4.0 million and $9.2 million loss in the respective 2021-periods. • During Q2-2022, High Arctic commenced payment of a $0.005 per share monthly dividend with $0.5 million dividend payments during the quarter. • Maintained a strong balance sheet, with a working capital balance of $27.5 million, including cash of $15.1 million, and total debt (current and long-term) of $7.9 million on June 30, 2022. Strategy Our 2022 strategic priorities build on the platform we created in 2021 and include: • Safety excellence and quality service delivery, • Actions aimed at generating free cash flow including: • Increased utilization of the Corporation’s world-class fleet of equipment, • Improved efficiency and work force productivity, and • Operating cost control. • Development of new and existing employees to grow our workforce to meet demand, • Pursuit of opportunities that secure the Corporation’s future as a lower emissions energy services provider, • Pursuit of opportunities for growth and corporate transactions in well understood markets that enhance shareholder value, and • Disciplined capital stewardship to improve returns for shareholders including divestitures, dividends and common share buybacks. Canadian Production Services Segment Divestments On July 28, 2022, High Arctic announced the first closing of the sale of its Canadian well servicing business for an aggregate purchase price of $38,200 payable in cash. Additionally, on the same date the Corporation announced the closing of the sale of High Arctic’s Canadian Snubbing business to a private entity for consideration consisting of 42% ownership in the outstanding shares in Team and a note receivable of $3,365. High Arctic will appoint two directors to the 5-person board of Team. High Arctic retains its Ancillary Services Segment in Canada comprised of the Nitrogen Pumping business and a Rentals business focused on pressure control. High Arctic also retains its snubbing assets in the USA. The Well Servicing Transaction resulted in the reclass of the following to Assets held-for-sale: property and equipment of $41,231, right-of-use asset of $4,662, prepaids of $185 and lease liability of $7,695. The Well Servicing Transaction resulted in the write down of property and equipment as non-cash impairment expense of $8,236 as at June 30, 2022. The well servicing business was purchased in August 2016 for $42,800 with a non-cash $12,700 gain on the acquisition booked to PP&E. The Snubbing Transaction consideration comprises of 420,000 common voting shares in Team a private company, representing 42% of the post-closing total outstanding shares, and a convertible promissory note for $3,365 with a five-year term, interest accruing at 4.5% from January 1, 2023, and … Read more

[fusion_builder_container type=”flex” hundred_percent=”no” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” overlay_color=”” video_preview_image=”” border_color=”” border_style=”solid” padding_top=”” padding_bottom=”” padding_left=”” padding_right=””][fusion_builder_row][fusion_builder_column type=”1_1″ layout=”1_1″ background_position=”left top” background_color=”” border_color=”” border_style=”solid” border_position=”all” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” center_content=”no” last=”true” min_height=”” hover_type=”none” link=”” border_sizes_top=”” border_sizes_bottom=”” border_sizes_left=”” border_sizes_right=”” first=”true”][fusion_text] Calgary, Alberta, August 8, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” intends to release its 2022 second quarter results on Thursday, August 11, 2022 after markets close and has scheduled a conference call to begin at 11:00 am MT (1:00 pm ET) on Friday, August 12, 2022. The conference call dial in numbers are 1-800-952-5114 or 416-641-6104 and the participant passcode is 3553595#. 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 September 13, 2022. An audio recording of the conference call will also be available within 24 hours on High Arctic’s website. The Corporation’s Second Quarter 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 nitrogen services and pressure control equipment on a rental basis to a number of exploration and production companies. For further information, please contact: Lance Mierendorf 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 220805- Q2 2022 Results Release ANNOUNCEMENT w conf call_Final [/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]