Calgary, Alberta – December 4, 2024 — High Arctic Overseas Holdings Corp. (TSXV: HOH) has announced the issuance of 675,000 incentive stock options to its directors and senior officers under the company’s Omnibus Incentive Plan.

Each option entitles the holder to purchase one common share of the Corporation at an exercise price of $1.60. The options have a five-year term and will vest over three years, with one third vesting annually. A special grant of 25,000 options to one senior officer will vest fully after one year.

The options were issued in accordance with the company’s Omnibus Incentive Plan, which is available on its SEDAR+ profile at www.sedarplus.ca.

High Arctic stated that the grants align management and director incentives with shareholder value creation, supporting long-term growth in its Papua New Guinea–focused energy services business.