Mr. Mike Maguire reports

HIGH ARCTIC DECLARES MONTHLY DIVIDEND

High Arctic Energy Services Inc.'s board of directors has approved a monthly dividend payment of 0.5 cent per share to holders of common shares. The dividend is payable on Sept. 14, 2023, to holders of High Arctic common shares of record at the close of business on Aug. 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 pressure control equipment on a rental basis to exploration and production companies.