Mr. Lance Mierendorf reports

HIGH ARCTIC DECLARES MONTHLY DIVIDEND

High Arctic Energy Services Inc. has approved a monthly dividend payment of half a cent per share to holders of common shares. The dividend is payable on June 14, 2023, to holders of High Arctic common shares of record at the close of business on May 31, 2023. The dividend is designated as an "eligible dividend" for Canadian Income Tax purposes.

About High Arctic Energy Services Inc.

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.