ST. JOHN’S, NEWFOUNDLAND, June 30, 2025 /GLOBE NEWSWIRE/ — Kraken Robotics Inc. (“Kraken” or the “Company”) (TSX.V: PNG, OTCQB: KRKNF) announces that, further to its news release dated June 17, 2025, it has filed a final short form prospectus dated June 30, 2025 (the “Final Prospectus“) with the securities commissions in each of the provinces of Canada, except Quebec pursuant to its bought deal public offering of common shares (the “Common Shares“) at $2.66 per Common Share (the “Offering“) for gross proceeds of $100,016,000 through a syndicate of underwriters led by Desjardins Capital Markets, and including Cormark Securities Inc., Scotia Capital Inc., Canaccord Genuity Corp., National Bank Financial Inc. and Raymond James Ltd. (the “Underwriters“). The Company has granted the Underwriters an option (the “Over-Allotment Option“) to purchase up to an additional 15.0% of the Common Shares of the Offering on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any. The Offering will be conducted in each of the provinces of Canada, except Quebec and may be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws, and certain other jurisdictions outside of Canada and the United States.

Closing of the Offering is expected to occur on or about July 7, 2025. The TSX Venture Exchange has conditionally approved the Offering and the listing of the Common Shares to be issued pursuant to the Offering (including any exercise of the Over-Allotment Option), subject to customary conditions.

Access to the Final Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a short form prospectus and any amendment. The Final Prospectus is accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Final Prospectus and any amendment may be obtained, without charge, by contacting Desjardins Capital Markets at 25 York St., 10th Floor, Toronto, ON, M5J 2V5, Attention: Equity Capital Markets or by email at ecm@desjardins.com by providing the contact with an email address or address, as applicable. Prospective investors should read the Prospectus in its entirety before making an investment decision.

This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.