PNG Kraken Robotics Inc

Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX-V: PNG, OTCQB: KRKNF) announces the completion of demonstrations for its new Autonomous Launch and Recovery System (ALARS) for KATFISH™ towed synthetic aperture sonar (SAS). The Company performed demonstrations for more than 40 naval customers and partners from October 21-25, 2024 in Halifax Harbour, Nova Scotia.

“This was a great opportunity to both test our new ALARS and demonstrate KATFISH for key naval clients,” said Greg Reid, President and CEO of Kraken Robotics. “The ocean is an unforgiving environment, and the highest risk to technology and personnel is during launch and recovery. Demo participants were able to witness our technology in action, observing both the advanced autonomy of the ALARS as well as the high-resolution real-time SAS data from KATFISH while aboard the vessel.”

The new ALARS was built to fit a 20-foot International Organization for Standardization (ISO) container footprint to increase interoperability with different vessels, allowing for rapid mobilization and demobilization on multi-role platforms. The system enables autonomous launch and recovery of KATFISH up to Sea State 5.

During the demonstrations, participants were able to view the KATFISH SAS data live-streaming onboard the vessel, detecting, classifying, and identifying various seafloor contacts in real-time, including high-resolution imagery of the Governor Cornwallis shipwreck.

High-resolution SAS data and command and control information were also streamed wirelessly back to shore and displayed to the attendees of Canadian Naval Mine Countermeasures Symposium taking place at HMCS Scotian in Halifax, Nova Scotia the same week.

“The ability to stream live, high-resolution seafloor data to analysts and mine warfare officers in real-time, from both manned and unmanned platforms, is a critical enabler for modern navies,” said David Shea, Executive Vice President and CTO of Kraken. “Kraken was excited to be able to provide a live demo simultaneously in-person and for a remote audience, showing how remote operation and intelligent autonomy helps get humans out of the minefield. These capabilities are standard with the KATFISH system and are being continuously improved as our NATO customers deploy them in operations every day. We look forward to getting this new ALARS out into the field with our customers.”

Kraken’s new ALARS will be delivered to an Asia-Pacific naval customer by the end of the year.

Figure 1: Kraken’s new Autonomous Launch and Recovery System (ALARS) recovering KATFISH towed synthetic aperture sonar.

Figure 2: KATFISH 2 cm x 2 cm resolution synthetic aperture sonar imagery of the Governor Cornwallis shipwreck.

ABOUT KRAKEN ROBOTICS INC.Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company providing complex subsea sensors, batteries, and robotic systems. Our high-resolution 3D 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.

LINKS:www.krakenrobotics.com

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Certain information in this news release constitutes forward-looking statements. When used in this news release, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", "expect", and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. In particular, this news release contains forward-looking statements with respect to, among other things, business objectives, expected growth, results of operations, performance, business projects and opportunities and financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such statements reflect the Company's current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company's public disclosure documents. Many factors could cause the Company's actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. These factors should not be construed as exhaustive. Should one or more of these risks or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described in this news release and such forward-looking statements included in, or incorporated by reference in this news release, should not be unduly relied upon. Such statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provide (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release, and the OTCQB has neither approved nor disapproved the contents of this press release.

For further information:

Erica Kierstead, Director of Marketingerica.kierstead@krakenrobotics.com

Joe MacKay, Chief Financial Officer(416) 303-0605jmackay@krakenrobotics.com

Greg Reid, President & CEO(416) 818-9822greid@krakenrobotics.com

Sean Peasgood, Investor Relations(647) 955-1274sean@sophiccapital.com

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/cf3245f4-e96d-40ad-9306-b9492167d206

https://www.globenewswire.com/NewsRoom/AttachmentNg/6d537fff-d9d8-4880-9629-e34211cbd18d