Mr. Greg Reid reports

KRAKEN RECEIVES $1.1 MILLION OF SYNTHETIC APERTURE SONAR ORDERS

Kraken Robotics Inc. has received $1.1-million of purchase orders for its AquaPix synthetic aperture sonar (SAS). These systems will be integrated to autonomous underwater vehicles (AUVs) for use in mine hunting and security applications. Customer names cannot be disclosed. Delivery is expected in 2023.

Kraken's AquaPix is an off-the-shelf, configurable SAS that replaces high-end side-scan systems at an affordable price, while delivering higher resolution, range and area coverage rates (ACR). The increased range, resolution and therefore higher useable ACR of SAS over traditional side-scan sonar systems significantly expand the capabilities of naval, scientific and commercial applications. Kraken's AquaPix is capable of two-centimetre-by-two-centimetre ultrahigh-definition SAS imaging at long ranges. AquaPix is uniquely positioned within the industry to bring this capability to the increasingly popular small, man-portable vehicle class. AquaPix is modular and has been integrated and deployed on over 20 different underwater vehicle platforms from shallow water to full ocean depth. Kraken's SAS is modular and versatile, demonstrated by being one of only two companies in the world that has sold and integrated SAS into small, man-portable vehicles, towed systems and deepwater vehicles. This ability to cross several platforms enables military customers to streamline their postmission analysis by having the same sonar resolution and ATR performance across their entire fleet of vehicles and mission requirements.

About Kraken Robotics Inc.

Kraken Robotics is a marine technology company providing complex subsea sensors, batteries and robotic systems. The company's high-resolution 3-D acoustic imaging solutions and services enable clients to overcome the challenges in our oceans -- safely, efficiently and sustainably. Kraken Robotics is headquartered in Canada and has offices in North and South America and Europe. Kraken is ranked as a Top 100 marine technology company by Marine Technology Reporter.

We seek Safe Harbor.