News Releases

Calgary, Alberta, July 18, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” has entered into an asset purchase agreement with Precision Drilling Corporation (“Precision”) to sell High Arctic’s Canadian well servicing business for an aggregate purchase price of $38.2 million payable in cash (the “Well Servicing Transaction”). Additionally, the Corporation has entered into an asset purchase agreement with Team Snubbing Services Inc. (“Team”) to sell High Arctic’s Canadian snubbing business for 42% of the post-closing total outstanding shares in Team and a note receivable of $3.4 million (the “Snubbing Transaction”). Both the Well Servicing Transaction and the Snubbing Transaction retain working capital, are subject to customary commercial closing conditions and are expected to close before the end of July 2022. Michael Binnion, Chairman of High Arctic, commented “After reflection on High Arctic’s core strength and future opportunities, the Board made a strategic decision to divest certain assets in Canada and focus on resurgent opportunities associated with our existing business in Papua New Guinea (“PNG”). PNG is a market where we have a dominant position, a history of high profit margins and free cash flow generation, and where the Corporation’s future fortunes are inextricably tied. We take great pride in the development of our Canadian well servicing and snubbing businesses. These transactions, we believe, set our employees up for success as most transition to a larger organization wherein their safety, service acumen and operational skill set them up for career success.” The Well Servicing Transaction includes High Arctic’s Canadian Well Servicing fleet marketed under the Concord Well Servicing brand comprising of 51 marketable rigs and 29 inactive and out of service rigs, as well as oilfield rental equipment associated with well servicing including 17 modern hydraulic catwalks purchased in 2021. The transaction will result in the transfer of High Arctic’s Well Servicing employees and a large majority of support personnel to Precision. The consideration includes $10.2 million payable at closing and the remaining $28.0 million payable in January 2023, with High Arctic expecting to retain approximately $3.0 million in closing working capital. Title to four Alberta real estate locations owned by the Corporation will transfer to Precision on final payment, with High Arctic retaining owned Alberta properties in Whitecourt and Clairmont. Precision will assume the lease obligations for High Arctic’s properties in Cold Lake and Acheson. Mike Maguire, CEO of High Arctic, said “Consolidation in the well servicing market is necessary to realize the scale and synergies to deliver profitability to shareholders. This transaction delivers to Precision high quality assets and people, and provides High Arctic with access to the capital tied up in our business. We are pleased to have found in Precision’s Well Servicing team, people who share a culture grounded in service quality and believe there is no better place to vend in Concord Well Servicing.” Precision’s President and CEO, Kevin Neveu, stated, “This acquisition significantly expands our well servicing division with high quality rigs and field personnel, strategic regional positioning, and alignment with key customers. High Arctic’s people are well known for their focus on safety and field execution and will complement Precision’s High Performance, High Value operating strategy. The Transaction accomplishes needed consolidation in the well servicing industry, providing greater opportunities for our combined team, while bolstering service capabilities for our customers. I am excited to welcome High Arctic employees to the Precision family.” Paradigm Capital Inc. is acting as exclusive financial advisor to High Arctic in connection with the Well Servicing Transaction. The Snubbing Transaction includes High Arctic’s Canadian Snubbing fleet comprising 7 marketable packages and 32 inactive and out of service snubbing units, underbalance hoists and associated support equipment. Commensurate with the Snubbing Transaction, High Arctic will appoint two directors to the 5-person board of Team, and an affiliate of Team will enter into a five-year lease of High Arctic’s owned property in Clairmont, Alberta on current market terms. The transaction will result in the transfer of High Arctic’s snubbing employees to Team. The Snubbing Transaction recognizes the contributed High Arctic assets at $11.1 million. As part of the consideration, High Arctic will receive a convertible promissory note from Team for $3.4 million with a five-year term, interest accruing at 4.5% from January 1, 2023 and principal repayments commencing July of 2024. High Arctic will receive the remainder of the consideration in the form of 420,000 common voting shares in Team, representing 42% of the post-closing total outstanding shares in Team. Mike Maguire, CEO of High Arctic, said “We are thrilled to become a significant shareholder of Team Snubbing Services Inc., a Canadian snubbing specialist on a rapid growth trajectory. Ownership in Team retains for our shareholders an exposure to the Canadian energy services sector, in a bespoke service offering that realizes high margins overseen by skilled and passionate management, while at the same time releasing our management to focus efforts elsewhere.” Mike Watts, CEO of Team, said “We are genuinely excited for the future of Team. The addition of the top-tier snubbing assets of High Arctic will enable us to realize our business plans for rapid expansion of operations in Canada and abroad. Team management has been working diligently over the past number of years to create a strong corporate and operational foundation given the uncertain times in the Canadian energy industry. This transaction has helped solidify management’s efforts and adds an exciting portfolio to the Team group. Through this transaction we get a strengthened balance sheet, board members with vast experience and knowledge of the energy services industry and capital markets, and employees who are as passionate about high quality, reliable and safe snubbing practices as we are.” Elimination of Production Services Segment. Combined, the two transactions represent the effective divestment of High Arctic’s Canadian Production Services segment. Post-closing, High Arctic will retain in Canada its Ancillary Services Segment comprised of the Nitrogen Pumping business and a smaller Rentals business focused on pressure control while keeping the HAES Rental Services branding. These Ancillary Services businesses will … Read more

CALGARY, Canada – May 13, 2022 – High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Corporation”) is pleased to announce the results of the annual general and special meeting of the shareholders of High Arctic held on May 12, 2022 (the “Meeting”). Three shareholders holding a total of 32,257,636 common shares of the Corporation were represented at the Meeting in person or proxy, representing approximately 66.19% of the total votes attached to all issued and outstanding common shares of the Corporation as of the record date on April 7, 2022. All matters put forth at the Meeting were approved. In respect of the election of directors, the shareholders approved fixing the number of directors at six with each nominee named in the Corporation’s management information circular dated April 7, 2022 being considered for election as directors. The detailed results of the vote for the election of directors, which was conducted by ballot, are set out below:   ⠀                                                         VOTES FOR              VOTES WITHHELD/ABSTAINED Michael R. Binnion                         98.87%                        1.13% ⠀                                                         (31,699,714)                (363,529) Simon P. D. Batcup                         98.67%                        1.33% ⠀                                                         (31,636,292)               (426,951) Daniel J. Bordessa                           97.90%                        2.10% ⠀                                                          (31,389,799)              (673,444) Honourable Joe Oliver                   98.43%                        1.57% ⠀                                                          (31,560,646)              (502,597) Ember W.M. Shmitt                        98.11%                         1.89% ⠀                                                          (31,456,107)              (607,136) Douglas J. Strong                            98.65%                        1.35% ⠀                                                         (31,629,914)               (433,329)   At the Meeting, the shareholders also approved a resolution appointing KPMG LLP, Chartered Professional Accountants, as auditors of the Corporation and a resolution approving the unallocated options under the Corporation’s stock option plan. About High Arctic High Arctic’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large 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: www.haes.ca Email: info@haes.ca

CALGARY, Canada – May 12, 2022, High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) released its’ first quarter results today. Mike Maguire, Chief Executive Officer commented: “High Arctic built on its strong 2021 closing position this quarter, continuing the trend of increasing revenue and earnings, and coupled this with raises to contract pricing. The increased activity in PNG and growing contribution from the ongoing deployment of our refurbished and enhanced automated hydraulic catwalks in Canada were notable highlights. We were pleased with the successful return to operation of Rig-115 in Papua New Guinea. The legacy exploration well was professionally capped and abandoned fulfilling a key ESG commitment and added to High Arctic’s record of 5+ years of recordable safety incident free work in PNG. We look forward to increasing activity in PNG, where we anticipate activity levels in the coming years have potential to exceed our past peaks. We expect further announcements about advancement of the Papua LNG project, and the development of P’nyang and other PNG-LNG fields, among other projects to increase oil and gas production. Also noteworthy was the three-year contract renewal we recently announced with one of our largest and longest standing customers for the provision of well servicing rigs in Cold Lake, Alberta, on substantially improved terms and pricing. The strong demand for our services and current labour driven constraints are positive for the continuation of pricing increases and margin growth in our Canadian production services. Macro market conditions and business fundamentals support a very positive outlook for High Arctic into the second half of 2022 and beyond, and we are pleased to make the first payment under our reinstated monthly dividend this week.” Highlights The following highlights the Corporation’s results for Q1-2022: First quarter revenue of $28.7 million, EBITDA of $2.9 million, compared to $17.8 million and $1.2 million respectively in Q1-2021 and an improvement over Q4-2021 with $23.6 million and $1.2 million respectively. High Arctic recommenced drilling services activity in PNG during Q1-2022. PNG activity was the primary driver for growth in the Quarter as consolidated revenues rose by $10.9 million and 62% over Q1-2021. Oilfield operating services margin as a percent of revenue was modestly lower in Q1-2022 at 18.5% (Q1-2021 – 18.9%). Drilling and Ancillary services segments experienced improved margins, however, profitability decreased in High Arctic’s Canadian Production Services segment primarily due to cost inflation, elimination of Canadian Emergency Wage Subsidy (CEWS), and non-capital cost of preparing equipment for service. In April 2022 High Arctic announced a 3-year renewal of a key Production Services contract which includes a 20% increase to the base hours rig rate, increases to ancillary equipment and service pricing, provisions for fuel adjustments, and alignment of parameters to current market conditions. High Arctic announced recommencement of a monthly dividend payment of $0.005 per share commencing in May 2022. Strong liquidity with a working capital balance of $30.6 million, cash of $11.4 million, increasing access to funds under the revolving credit facility covenants and long-term debt of $7.7 million. Strategy Our 2022 strategic priorities build on the platform we created in 2021 and include: Safety excellence and quality service, Actions aimed at generating free cash flow including: Increased utilization of 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 including, divestitures, dividends and common share buybacks.——————– The unaudited interim consolidated financial statements (“Financial Statements”) and management discussion & analysis (“MD&A”) for the quarter ended March 31, 2022 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at www.haes.ca. Non-IFRS measures, such as EBITDA, Adjusted EBITDA, EBITDA for purposes of long-term debt covenants, Adjusted net earnings (loss), Oilfield services operating margin, Operating margin %, Percent of revenue, Funds provided from operations, Working capital and Net cash are included in this News Release. See Non-IFRS Measures section, below. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Within this News Release, the three-months ended March 31, 2022 may be referred to as the “Quarter” or “Q1-2022”. The comparative three-months ended March 31, 2021 may be referred to as “Q1-2021”. References to other quarters may be presented as “QX-20XX” with X being the quarter/year to which the commentary relates. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted.   5-3 Q1 PR

Calgary, Alberta, May 9, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” intends to release its 2022 first quarter results on Thursday, May 12, 2022 after markets close and has scheduled a conference call to begin at 11:00 am MT (1:00 pm ET) on Friday, May 13, 2022. The conference call dial in numbers are 1-800-952-5114 or 416-641-6104 and the participant passcode is 5554579#. 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 June 13, 2022. An audio recording of the conference call will also be available within 24 hours on High Arctic’s website. The Corporation’s First 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’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large 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: www.haes.ca Email: info@haes.ca Q1-2022-Results-Release-ANNOUNCEMENT-w-conf-call

Calgary, Alberta, April 11, 2022: High Arctic Energy Services Inc. (TSX: HWO) “High Arctic” or the “Corporation” is pleased to announce that it has agreed to terms with a key customer to renew a significant contract in Canada. The contract is for the provision of well servicing rigs and ancillary equipment managed out of the Corporation’s Cold Lake, Alberta facility. Key features of the contract renewal include an approximate 20% increase to the base hourly rig rate, increases to ancillary equipment and service pricing, provision for fuel price adjustments, and alignment of other parameters to current market conditions. Further, the contract’s term has been extended to late 2025. Mike Maguire, CEO commented “This contract renewal and price adjustment is the result of substantive engagement and discussions over many months. The negotiated changes fairly reflect both the long-term commitment of our customer and the significantly changed market conditions. It balances a needed step-change improvement in underlying economic returns while locking in term, symbolic of rig crew and support personnel excellence. High Arctic is pleased to renew our engagement for a further three years and build on a long-standing customer relationship that extends back decades. This relationship is founded upon exceptional leadership and industry leading ESG standards that generates consistent operational performance. Activity with this customer is approaching 9 years and 2.1-million-man hours of work without a recordable safety incident. This safe work outcome is a true reflection of the partnership between our two companies and our shared focus on executing work of the highest quality.” About High Arctic High Arctic’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps and drilling support equipment on a rental basis in Papua New Guinea. The western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas 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: www.haes.ca Email: info@haes.ca 220411 – High Arctic Renews Key Canadian Contract

CALGARY, Canada – March 10, 2022, 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, 2021 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at www.haes.ca. Non-IFRS measures, such as EBITDA, Adjusted EBITDA, Adjusted Net Earnings (Loss), Operating margin % and working capital are included in this News Release. See Non-IFRS Measures section below. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Mike Maguire, Chief Executive Officer commented: “High Arctic closed out the 2021 fiscal year in excellent position. As underlying business fundamentals began to improve, surplus pre-pandemic cash of $9.7 million was paid to shareholders in the form of a special one-time dividend. We exited the year with a net cash position of $4.0 million, strengthened capital structure with fixed rate mortgage financing and an undrawn revolving credit facility, and increasing revenue fueled by positive pricing trends and the return to work in PNG. Entering 2022, global events have propelled the energy sector into significant supply constraint. Sanctions against Russia combined with the actions of global energy and transport corporations have removed substantial supply of both oil and gas, stressing the market at a time of increasing energy demand as Covid-19 restrictions are lifted. As a result, commodity price strength coupled with long-term security of supply assurances are expected to drive further increases in service activity. More Canadian oil is needed to supply foreign markets, and LNG is increasingly becoming the mobile, low emissions energy source of choice through this period of energy transition. The signing of the P’nyang gas agreement and the progression of the Papua LNG project towards FID, positions Papua New Guinea as a key source of new LNG supply to Asia and the sub-continent. High Arctic is ideally placed to benefit in both of these markets, and as a result we have undertaken to reinstate a regular monthly dividend.” Highlights The following highlights the Corporations results for Q4-2021 and YTD-2021: • High Arctic’s revenues increased 43% to $23.6 million in Q4-2021 relative to Q4-2020 and were 27% higher than Q3-2021, buoyed by renewed activity in the Drilling Services Segment during the quarter. In contrast, YTD-2021 revenues of $76.4 million were lower by 16% primarily due to significantly lower drilling services activity throughout 2021-year compared to the 2020-year which included a full quarter of pre-pandemic activity. • High Arctic’s oilfield services operating margin as a percentage of revenue was 19.9% in both Q4-2021 and YTD-2021, compared to 23% and 23.5% in the corresponding 2020-periods. • High Arctic achieved positive EBITDA of $1.2 million and $4.4 million for Q4-2021 and YTD-2021, while the net loss in the respective 2021-periods was $4.6 million and $18.6 million. • High Arctic returned value to shareholders through a $9.7 million special one-time cash dividend in Q4-2021 while maintaining a strong working capital balance of $29.7 million on December 31, 2021. At year end, High Arctic carried a cash balance of $12.0 million. • Cost reduction initiatives delivered $2.5 million or 19.4% lower general and administrative costs YTD-2021 over prior year, and $5.5 million lower than pre-pandemic YTD-2019 costs. • In December 2021, High Arctic completed a $8.1 million mortgage financing of Corporation owned and occupied land and buildings with an initial 5-year term and a fixed interest rate of 4.30%. 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: o Increased utilization of the Corporation’s world-class fleet of equipment, o Improved efficiency and work force productivity, and o 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 dividends and common share buybacks. ——————– The audited consolidated financial statements (“Financial Statements”) and management discussion & analysis (“MD&A”) for the year ended December 31, 2021 will be available on SEDAR at www.sedar.com, and on High Arctic’s website at www.haes.ca. Non-IFRS measures, such as EBITDA, Adjusted EBITDA, EBITDA for purposes of long-term debt covenants, Adjusted net earnings (loss), Oilfield services operating margin, Operating margin %, Percent of revenue, Funds provided from operations, Working capital and Net cash are included in this News Release. See Non- IFRS Measures section, below. All amounts are denominated in Canadian dollars (“CAD”), unless otherwise indicated. Within this News Release, the three months ended December 31, 2021 may be referred to as the “Quarter” or “Q4- 2021”, and similarly the twelve months ended December 31, 2021 may be referred to as “YTD-2021”. The comparative three months ended December 31, 2020 may be referred to as “Q4-2020”, and similarly the twelve months ended December 31, 2020 may be referred to as “YTD-2020”. References to other quarters may be presented as “QX-20XX” with X being the quarter/year to which the commentary relates. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted. Q4 2021 PR

CALGARY, Canada – November 24, 2021 – High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High Arctic”) announces that, after a review of audit service availability in Canada, the Corporation has chosen KPMG LLP (“Successor Auditor”) as external auditors for calendar year 2021. Given parameters for audit services in a changing market, PricewaterhouseCoopers LLC (“Former Auditor”) has resigned effective November 24, 2021. The Corporation appointed the Successor Auditor as the new auditor effective November 24, 2021, until the close of the next annual general meeting of High Arctic Shareholders. There were no reservations or modified opinions in any of the Former Auditor’s audit reports for any financial period during which the Former Auditor was the Corporation’s auditor. High Arctic confirms there are no “reportable events” (as the term is defined in National Instrument 51-102 – Continuous Disclosure Obligations) between the Corporation and the Former Auditor and in its opinion, there are no reportable events pending. The Corporation and the Board of Directors would like to extend their thanks and high regard to PricewaterhouseCoopers LLC for auditing services to date. In accordance with National Instrument 51-102, the Notice of Change of Auditor, together with the required letters from Former Auditor and Successor Auditor, have been reviewed by the Corporation’s Audit Committee and will be filed on SEDAR accordingly. About High Arctic Energy Services High Arctic’s principal focus is to provide drilling and specialized well completion services, equipment rentals and other services to the oil and gas industry. High Arctic is a market leader providing drilling and specialized well completion services and supplies rig matting, camps, and drilling support equipment on a rental basis in Papua New Guinea. The Western Canadian operation provides well servicing, well abandonment, snubbing and nitrogen services and equipment on a rental basis to a large number of oil and natural gas exploration and production companies. For further information contact: Lance Mierendorf Chief Financial Officer P: +1 (587) 318 2218 P: +1 (800) 688 7143 High Arctic Energy Services Inc. Suite 500, 700 – 2nd Street S.W. Calgary, Alberta, Canada T2P 2W1 website: www.haes.ca Email: info@haes.ca HWO – Press Release – Change of Auditor