Calgary, Alberta, November 22, 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 December 14,
2022 to holders of High Arctic common shares of record at the close of business on November 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

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

221122- November 2022 High Arctic Declares Monthly Dividend