Mr. Mike Maguire reports

HIGH ARCTIC OVERSEAS ANNOUNCES NORMAL COURSE ISSUER BID

The TSX Venture Exchange has accepted a notice filed by High Arctic Overseas Holdings Corp. of the company's intention to make a normal course issuer bid to be transacted through the facilities of the exchange.

The notice provides that the corporation may, during the 12-month period commencing June 20, 2025, and ending June 19, 2026, purchase up to 622,408 common shares in total, being approximately 5 per cent of the total number of shares outstanding as at June 17, 2025. The price which the corporation will pay for any such shares will be the prevailing market price at the time of acquisition. The actual number of shares which may be purchased pursuant to the bid and the timing of any such purchases will be determined by management of the corporation. Purchases under the bid will be made from time to time by ATB Capital Markets on behalf of the corporation. The corporation may enter into a predefined automatic securities purchase plan with ATB Financial to allow for the repurchase of shares at times when the corporation ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise. Any such plans entered into will be adopted in accordance with applicable Canadian securities laws. Outside of the restricted periods, the timing of purchases will be determined by management of the corporation.

All share purchases will be made on the open market through the facilities of the exchange and will be purchased for cancellation. The financing for any purchase pursuant to the bid will be financed out of the working capital of the corporation.

The board of directors believes the underlying value of the corporation may not be reflected in the current market price of its shares. As a result, depending upon future price movements and other factors, the board believes that the purchase of the shares would be an appropriate use of corporate funds and in the best interests of the corporation and its shareholders. Furthermore, the purchases are expected to benefit all persons who continue to hold shares by increasing their equity interest in the corporation if the repurchased shares are cancelled.

A copy of the corporation's notice filed with the exchange may be obtained, by any shareholder without charge, by contacting the corporation's chief executive officer.

About High Arctic Overseas Holdings Corp.

High Arctic Overseas is a market leader in Papua New Guinea, providing drilling and specialized well completion services and manpower solutions, and supplies rental equipment, including rig matting, camps, material handling and drilling support equipment.

We seek Safe Harbor.