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CALGARY, Alberta, Nov. 28, 2025 – High Arctic Overseas Holdings Corp. (TSXV: HOH) (“High Arctic Overseas” or the
“Corporation”) has released its third quarter 2025 financial and operating results. The unaudited condensed interim
consolidated financial statements (the “Financial Statements”) and management’s discussion & analysis (“MD&A”) for the
quarter ended September 30, 2025, will be available on SEDAR+ at www.sedarplus.ca. All amounts are denominated in United
States dollars (“USD”), unless otherwise indicated.

The common shares of the Corporation began trading on the TSXV on August 16, 2024 under the trading symbol HOH.
Mike Maguire, Chief Executive Officer, commented on the Corporation’s third quarter of 2025 financial and operating results:
“High Arctic’s Q3 results reflect reduced current activity in PNG. Our strong working capital and debt-free balance
sheet position us well for future opportunities. We’re focused on our diversification strategy, expanding our customer
base for equipment rental and manpower services, building out the new Fire Services business and exploring potential
acquisitions. We remain optimistic about upcoming PNG major projects and have been fielding increased service
enquiries. Our strategy is to stay agile, diversify and remain ready for the next wave of expansion projects.”

2025 THIRD QUARTER HIGHLIGHTS

• Adjusted EBITDA loss increased from Q2 2025 $184 to Q3 2025 $741, largely due to the planned wind down of
  customer project activities in our manpower and rental services businesses and costs associated with establishment of
  the Fire Services business.
• Drilling activities remained consistent with Q2 2025 with continuation of Rig 103 suspension and Rigs 115 and 116 cold
  stacked.
• General & Administrative expenses have increased to $969 in Q3 2025 compared to $693 in Q2 2025 with a number of
  one-time expenses related to strategy development and corporate services; and
• Disciplined cashflow management resulted in exiting Q3 2025 with working capital of over $19 million.
  2025 YEAR TO DATE HIGHLIGHTS
• Adjusted EBITDA loss for 9 months ending 30 September 2025 of $1,008 against a gain for 9 months ending 30
  September 2024 of $4,849 is a reflection of drilling operations being suspended through year to date, 2025.
• Revenue and operating margins significantly reduced compared to Q3 2024 due to the higher portion of 2025 revenue
  activities being manpower rather than equipment, which has a higher operating cost;
• Cost to establish the Fire Services business, one off expense for strategy, corporate services and equipment readiness,
  combined with reduced revenue led to $1,464 of cash used in operations year to date 2025, versus $9,864 of cash
  generated year to date in 2024, which is reflection of cash generation through drilling activities.
  In the above results discussion, the three months ended September 30, 2025 may be referred to as the “quarter” or “Q3 2025”
  and the comparative three months ended September 30, 2024 may be referred to as “Q3 2024”. References to other quarters
  may be presented as “QX 20XX” with X/XX being the quarter/year to which the commentary relates. References to the six
  months ended June 30, 2025, may be referred to as the “first half” or “H1 2025” and the comparative six months ended June
  30, 2024 may be referred to as “H1 2024”.
  Business strategy
  Our business strategy focused on Papua New Guinea is underpinned by the following cornerstones:
• Leveraging our core PNG planning and logistics capability to diversify our service offerings;
• Deploying idle assets into profitable operations;
• Strengthening local content & participation in the PNG finance and investment communities;
• An established and efficient corporate structure; and
• Seeking opportunities to expand and root the business in the Australasian region.
  2025 Strategic Objectives
• Relentless focus on safety excellence and quality service delivery;
• Reduce general and administrative expenditures;
• Grow the manpower business in Papua New Guinea;
• Maximize potential participation in future major Papua New Guinea projects; and
• Pursue expansionary transactions that increase shareholder value.
  Since the Corporation and HAES-Cyprus were both wholly-owned by HWO, the transfer of all of the outstanding ordinary
  shares of HAES-Cyprus to the Corporation was deemed a common control transaction. The Corporation’s Financial
  Statements are presented under the continuity of interests basis. Financial and operational results contained within this Press
  Release present the historic financial position, results of operations and cash flows of HAES-Cyprus for all prior periods up to
  August 12, 2024, under HWO’s control. The financial position, results of operations and cash flows from April 1, 2024 (the date
  of incorporation of the Corporation) to August 12, 2024, include both HAES-Cyprus and the Corporation on a combined basis
  and from August 12, 2024, forward include the results of the Corporation on a consolidated basis upon completion of the
  Arrangement.
  For reporting purposes in the Financial Statements, the MD&A and this Press Release, it is assumed that the Corporation
  held the PNG business prior to August 12, 2024, and as such, information provided includes the financial and operating results
  for the three and nine months ended September 30, 2025, including all comparative periods.

Calgary, Alberta – August 28, 2025 — High Arctic Overseas Holdings Corp. (TSXV: HOH) has reported its financial and operating results for the second quarter ended June 30, 2025. The company highlighted disciplined cost management and continued diversification despite subdued drilling activity in Papua New Guinea (PNG).

Financial Performance
Revenue for the quarter was USD $2.37 million, down from $7.63 million in Q2 2024, reflecting the suspension of Rig 103 and the continued cold-stack of Rigs 115 and 116. The company recorded a net loss of $0.52 million, compared to a $0.03 million loss in the same quarter last year. Adjusted EBITDA showed a small loss of $0.18 million, an improvement over Q1’s $0.20 million loss.

For the first half of 2025, revenue totalled $4.88 million versus $18.76 million in H1 2024. The company reported a net loss of $1.75 million for the period, compared to income of $2.47 million last year.

Operational Highlights

• Drilling operations remained suspended through the quarter.
• Revenue was largely driven by manpower and equipment rentals, though volumes declined as a major customer wound down a project.
• General and administrative expenses fell to $0.69 million, from $0.92 million in Q1, reflecting the shift of corporate functions to Australia and cost reductions.
• High Arctic ended the quarter with strong liquidity, reporting $20 million in working capital and $13.8 million in cash.
  

Strategic Outlook
CEO Mike Maguire emphasised the company’s continued diversification strategy, including the launch of High Arctic Fire Services, a new division focused on fire prevention, detection, and suppression systems for PNG’s extractive industries. Initial revenues are expected in Q3 2025.

Looking forward, High Arctic anticipates subdued activity for the remainder of 2025, with manpower and rentals as primary revenue drivers. However, management highlighted increasing enquiries and preparations for a new cycle of major LNG projects in PNG, including Papua LNG and P’nyang. Both developments are expected to generate significant drilling demand later this decade.

“Our extensive experience in PNG positions us to support upcoming projects with safe, efficient services,” Maguire said. “We remain disciplined on costs while preparing to capture opportunities in LNG, mining, and infrastructure.”

Calgary, Alberta – July 5, 2025 — High Arctic Overseas Holdings Corp. (TSXV: HOH) has issued a clarification regarding the appointment of its Chief Financial Officer, Matthew Cocks.

The Corporation noted that while Mr. Cocks completed his professional qualifications and became a Chartered Accountant in 2010 through the Institute of Chartered Accountants Australia & New Zealand, he is not currently designated as a Chartered Accountant. He chose not to renew his membership with the Institute in 2020 and is not a current member. The company confirmed that Mr. Cocks does not intend to seek reinstatement at this time.

Despite the clarification, High Arctic emphasised that the appointment of Mr. Cocks as CFO was accepted by the TSX Venture Exchange.

The company reaffirmed its confidence in Mr. Cocks’ experience and capability to serve in the role, noting that he will continue to oversee the Corporation’s financial strategy and governance

Calgary, Alberta – June 23, 2025 — High Arctic Overseas Holdings Corp. (TSXV: HOH) has announced the appointment of Matthew Cocks as Chief Financial Officer, effective June 24, 2025, subject to TSX Venture Exchange approval.

Mr. Cocks joined the company in October 2023 as Vice President–Finance, overseeing the Papua New Guinea business and strengthening finance and accounting processes in preparation for the company’s spin-out from High Arctic Energy Services Inc.

With more than 20 years of experience in financial leadership roles, Mr. Cocks has worked extensively in both private and public companies across the resources, construction, manufacturing, and logistics sectors. His expertise spans financial stewardship, strategic planning, risk management, and international team development.

“Matt’s 20-plus years of wide-ranging financial management expertise in international markets and in services to the extractive industries will be invaluable to the Corporation as we look to diversify and expand our PNG business,” said Mike Maguire, Chief Executive Officer. He also expressed gratitude to Lonn Bate, who served as Interim CFO since the spin-out, and who will now continue his responsibilities as CFO of High Arctic Energy Services Inc.

Calgary, Alberta – June 17, 2025 — High Arctic Overseas Holdings Corp. (TSXV: HOH) announced that the TSX Venture Exchange has accepted its intention to launch a Normal Course Issuer Bid (NCIB). The program will run from June 20, 2025 to June 19, 2026, allowing the Corporation to repurchase up to 622,408 common shares, representing approximately 5% of outstanding shares.

Purchases will be made through ATB Capital Markets at prevailing market prices and cancelled upon acquisition. Funding will be drawn from the Corporation’s working capital. High Arctic noted it may adopt an automatic securities purchase plan with ATB Financial to allow repurchases during blackout periods, in line with Canadian securities laws. Outside restricted periods, the timing of purchases will be at management’s discretion.

The Board believes the current market price does not fully reflect the company’s value and that the NCIB represents an efficient use of funds, expected to benefit continuing shareholders by increasing their equity interest.

Calgary, Alberta – May 29, 2025 — High Arctic Overseas Holdings Corp. (TSXV: HOH) has released its first quarter financial and operating results for the period ended March 31, 2025. The company highlighted stable liquidity and disciplined cash management despite the suspension of drilling operations in Papua New Guinea (PNG).

Financial Performance
Revenue for Q1 2025 was USD $2.51 million, down from $11.13 million in Q1 2024, reflecting the suspension of Rig 103, which was operational during the prior year. The company recorded a net loss of $1.23 million, compared to net income of $2.50 million in Q1 2024. Adjusted EBITDA was a loss of $0.20 million, versus a gain of $3.53 million in the same period last year.

Operating margins declined to $0.71 million (28.4% of revenue), compared with $4.32 million (38.8%) in Q1 2024. Cash used in operating activities was $0.83 million, versus cash generated of $5.35 million a year earlier. The company ended the quarter with strong liquidity, reporting $20.2 million in working capital and $13.9 million in cash.

Operational Highlights

• Drilling Rig 103 remained suspended, with Rigs 115 and 116 cold-stacked but preserved for future deployment.
• Revenue was largely driven by manpower and equipment rental services, which maintained activity levels similar to Q4 2024.
• Rental activity expanded slightly into non-oil and gas sectors, marking progress in diversification.
• Disciplined cost management and reduced capital spending supported financial stability.
  
  

Strategic Outlook
High Arctic reaffirmed its business strategy centred on PNG, with objectives to:

• Maintain safety excellence and quality service delivery.
• Reduce general and administrative expenditures.
• Grow manpower services in PNG.
• Maximise participation in future major resource projects, including Papua LNG and P’nyang, both expected to drive drilling demand later this decade.
  
  

CEO Mike Maguire noted: “Our experience, combined with ideal drilling equipment for PNG’s environment, positions us well to play a strategic role in major projects anticipated in the second half of the decade.”

The company acknowledged near-term activity will remain subdued, but reported an increase in enquiries and tenders that could lead to future growth. With preserved rigs, a strong rental fleet, and proven manpower solutions, High Arctic is prepared to capitalise on the next phase of large-scale LNG and infrastructure development in Papua New Guinea.