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 and may also be downloaded from the Investor Center on the High Arctic

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

High Arctic Energy Services Inc.
Suite 2350, 330–5th Avenue SW
Calgary, Alberta, Canada T2P 0L4

231220 High Arctic Announces Mailout of Shareholder Materials