Mr. Greg Reid reports

KRAKEN ROBOTICS REPORTS RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Kraken Robotics Inc.'s 2023 annual and special meeting of shareholders was held virtually on Tuesday, June 27, 2023, at 1 p.m. EST. Shareholders voted in favour of all items put forward by the board of directors and management. A total of 63,376,975 common shares were voted, representing 30.76 per cent of total shares issued and outstanding as at the record date of the meeting.

Shareholders voted in favour of:

• Electing five directors, being Greg Reid, Shaun McEwan, Larry Puddister, Michael Connor and Bernard Mills;
• The appointing of KPMG as auditors of the company and authorizing directors to fix the remuneration of the auditors;
• Approving the amended and restated stock option plan;
• Approving the restricted share unit plan, under which the company can reserve up to 10 per cent of the number of common shares outstanding at any given time for the issuance of restricted share units, less the number of common shares reserved for issuance under the stock option plan;
• Approving a consolidation of the common shares to occur as and when determined by the board of directors based on a ratio of between two to seven preconsolidation shares for each postconsolidation share.

Separately, the company would like to acknowledge that Karl Kenny, company founder, former chief executive officer and long-serving board member, has retired from the board and did not stand for re-election. "On behalf of the board of directors, management and shareholders, we wish Karl the best in his retirement. We thank Karl for his strategic vision, guidance and tenacity over the years. That tenacity, along with a constant pursuit of innovation, will carry on within Kraken. It has been instrumental in growing Kraken from a start-up to a leading provider of essential sonar and subsea battery technologies to leading defense and offshore energy customers around the world," said Kraken president and CEO Greg Reid.

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.