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High Arctic Declares Monthly Dividend

December 22, 2022

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Dec. 21, 2022 (GLOBE NEWSWIRE) -- 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 January 13, 2023 to holders of High Arctic common shares of record at the close of business on December 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 MierendorfChief Financial Officer1.587.318.22181.800.668.7143High Arctic Energy Services Inc.Suite 2350, 330–5th Avenue SWCalgary, Alberta, Canada T2P 0L4website: www.haes.caEmail: info@haes.ca

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