Mr. Greg Reid reports

KRAKEN DELIVERS MINE HUNTING SOLUTION TO AUSTRALIAN NAVY

Kraken Robotics Inc. has supplied high-resolution seabed mapping sonar equipment to the Royal Australian Navy. Kraken delivered its Katfish high-speed high-definition seabed awareness solution in Q2, and recently completed system integration and sea trials in Cairns, Australia. Kraken expects to provide additional in-service support, including training, spares and operational support. Continuing to build off successful Katfish deliveries with various NATO navies, this represented Kraken's first Katfish system sale in the Asia-Pacific region.

This system delivery follows the results of a successful in-country demonstration of Katfish for the Royal Australian Navy in Q1 of this year. Kraken's team worked in concert with a local Australian survey company, to complete a 60-square-kilometre feature detection survey that provided real-time ultrahigh-resolution imagery and bathymetry of the sea floor along coastal waterways.

About Katfish

The Katfish is a high-speed seabed survey system providing ultrahigh-resolution seabed imagery and bathymetry for defence and commercial customers. The acoustic imagery and bathymetry collected by Katfish systems provides customers with actionable intelligence about subsea assets and infrastructure such as subsea pipelines and fibre optic cables, as well as important hydrographic information about the safety of key transit routes for ocean-going assets. Kraken has integrated Katfish to a variety of manned and unmanned vessels of opportunity, providing both stand-alone turnkey seabed mapping as well as optional integration to a customer's combat mission management systems. Kraken's Katfish high-definition seabed awareness solution consists of its Katfish towed synthetic aperture sonar, as well as Tentacle winch and autonomous launch and recovery system.

Quote from the RAN:

"The purchase and operational employment of the Kraken Katfish represents the first implementation of the Royal Australian Navy's combat-ready prototyping acquisition approach. Kraken, the Royal Australian Navy and Australian Industry have worked closely together to ensure that latest technology has been given to our sailors in record time, giving the Royal Australian Navy world-leading capability."

Quote from Kraken president:

"We are pleased to have delivered our Katfish high-definition seabed awareness solution to the Royal Australian Navy," said Kraken president and chief executive officer Greg Reid. "Our initial demonstration of the Katfish system in Australia earlier this year was essential in providing the RAN an opportunity to evaluate system performance first-hand in real-world conditions. Kraken has had long-standing co-operation in Australia, starting in 2013 with acceptance of our first Interferometric SAS by Australia's Defence Science and Technology Group. Since then, Kraken has had a positive relationship with Australian industry, and we are looking forward to this next phase of growth with our Australian customers."

About Kraken Robotics Inc.

Kraken Robotics is a marine technology company providing complex subsea sensors, batteries and robotic systems. Its high-resolution 3-D acoustic imaging solutions and services enable clients to overcome the challenges in the 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.