Kraken Robotics receives $24-million of new orders

Mr. Greg Reid reports KRAKEN ROBOTICS ANNOUNCES $24 MILLION IN DEFENCE ORDERS Kraken Robotics Inc. has received approximately $24-million in new orders to over 10 customers across five countries, including three new defence customers. The orders are for Kraken's SeaPower batteries, Katfish towed synthetic aperture sonar (SAS) and Kraken SAS. "SeaPower battery sales continue to be strong, with several new clients further diversifying our customer base in this area of the business. Manufacturing of our batteries in our new Nova Scotia facility is coming online in the next month, significantly expanding our production capacity," said Greg Reid, president and chief executive officer of Kraken Robotics. "We are also pleased to share that we have sold a new Katfish to the Polish Navy for their mine-hunting program and SAS to multiple defence customers for their autonomous underwater vehicle (AUV) platforms." The Polish Navy first selected Katfish in 2020 for deployment on its Kormoran II class mine-hunting vessels to support mine countermeasure operations in complex shallow water environments. This latest order was placed through Thesta, Kraken's partner in Poland, which was appointed an authorized reseller of Katfish during last week's Oceanology International exhibition. About Kraken Robotics Inc. Kraken Robotics is transforming subsea intelligence through 3-D imaging sensors, power solutions and robotic systems. The company's products and services enable clients to overcome the challenges in its oceans -- safely, efficiently and sustainably. Kraken's synthetic aperture sonar, subbottom imaging and lidar (light detection and ranging) systems offer best-in-class resolution, providing critical insights into ocean safety, infrastructure and geology. The company's revolutionary pressure tolerant batteries deliver high-energy-density power for UUVs and subsea energy storage. Kraken Robotics is headquartered in Canada with offices in North America, South America and Europe, supporting clients in more than 30 countries worldwide. On March 3, 2026, Kraken announced the acquisition of Covelya Group Ltd., a leading international provider of mission-critical underwater technology solutions operating through its subsidiary companies: Sonardyne International Ltd., EIVA A/S, Forcys Ltd., Wavefront Systems Ltd., Voyis Imaging Inc. and Chelsea Technologies Ltd. The acquisition is expected to close during the second quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals. We seek Safe Harbor.