Mr. John Hooks reports

PHX ENERGY SERVICES CORP. ANNOUNCES QUARTERLY DIVIDEND

PHX Energy Services Corp. has declared a quarterly cash dividend of 15 cents per common share, designated as an eligible dividend within the meaning of Subsection 89(1) of the Income Tax Act (Canada), payable on July 17, 2023, to shareholders of record at the close of business on June 30, 2023.

About PHX Energy Services Corp.

PHX Energy is a growth-oriented, public oil and natural gas service company. The corporation, through its directional drilling subsidiary entities, provides horizontal and directional drilling services to oil and natural gas exploration and development companies principally in Canada and the United States. In connection with the services it provides, PHX Energy engineers, develops and manufactures leading-edge technologies. In recent years, PHX Energy has developed various new technologies that have positioned the corporation as a technology leader in the horizontal and directional drilling service sector in North America.