High Arctic Announces Completion of Previously Announced Reorganization and Intention to Report Second Quarter 2024 Results Page 1

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CALGARY, Alberta, Aug. 12, 2024 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the “Company”) is pleased to announce that it has completed the previously announced reorganization of High Arctic to separate the Company’s North American and Papua New Guinea operations, through a court-approved plan of arrangement (the “Arrangement”) between the Company and High Arctic Overseas Holdings Corp. (“SpinCo”).