Mr. Greg Reid reports

KRAKEN ROBOTICS COMPLETES $115 MILLION BOUGHT DEAL PUBLIC OFFERING

Kraken Robotics Inc. has closed its previously announced underwritten public offering of 43.24 million common shares in the capital of the company at a price of $2.66 per common share for aggregate gross proceeds of $115,018,400, inclusive of the full exercise of the overallotment option by the underwriters (as defined below).

The offering was led by Desjardins Capital Markets as lead underwriter and sole bookrunner on behalf of a syndicate of underwriters including Cormark Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc. and Raymond James Ltd. The underwriters received a cash commission equal to 4.0 per cent of the gross proceeds of the offering, which is $4,600,736.

Kraken expects the net proceeds of the offering will be used to support the company's growth into a scalable global prime contractor, including: (1) enhancing the ability to consider larger accretive acquisitions particularly in the United States and Europe given the company's strengthened global profile; (2) demonstrating a stronger balance sheet when bidding for larger governmental and commercial contracts; and (3) financing general corporate purposes.

"This successful equity offering shows strong support from investors and reflects confidence in our vision and strategy as we scale our business. With a fortified balance sheet, we are well positioned to pursue strategic acquisitions, expand our global footprint, and deliver even greater value to our customers and shareholders," commented Greg Reid, president and chief executive officer of Kraken.

The offering was completed by way of a short form prospectus dated June 30, 2025. The prospectus can be found on SEDAR+ and contains important detailed information about the offering.

The offering is subject to TSX Venture Exchange final acceptance of requisite regulatory filings.

About Kraken Robotics Inc.

Kraken Robotics is transforming subsea intelligence through 3-D imaging sensors, power solutions and robotic systems. Its products and services enable clients to overcome the challenges in oceans safely, efficiently and sustainably.

Kraken's synthetic aperture sonar, subbottom imaging and lidar systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure and geology. Its revolutionary pressure-tolerant batteries deliver high-energy-density power for unmanned underwater vehicles and subsea energy storage.

Kraken is headquartered in Canada with offices in North America, South America and Europe, supporting clients in more than 30 countries worldwide.

We seek Safe Harbor.