Kraken Robotics Ranked #1 Technology Company on 2023 TSX Venture Top 50 List

Kraken Robotics Inc. (TSX-V: PNG, OTCQB: KRKNF), is pleased to announce that the Toronto Venture Stock Exchange has recognized Kraken Robotics as a 2023 Top 50 Company. Kraken placed first in the technology category. The TSX Venture 50 is a ranking of the strongest companies on TSX Venture Exchange by share price appreciation, trading volume amount, and market capitalization growth.

Greg Reid, President and CEO of Kraken, commented, “We are honored to be recognized as a Top 50 company within the Toronto Venture Stock Exchange. This is another validation point of the hard work of our employees and we are pleased that investors are starting to recognize our solid progress. We are seeing strong demand across our business driven by an increased focus on the need for subsea intelligence solutions across the defense, energy, and offshore renewable sectors. We look forward to sharing further evidence of this progress with our stakeholders in 2023 and beyond.”

As part of the award, the Toronto Venture Stock Exchange recorded an overview of Kraken. To view the video, please click here.

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ABOUT KRAKEN ROBOTICS INC.Kraken Robotics Inc. (TSX.V:PNG) (OTCQB: KRKNF) is a marine technology company dedicated to the production and sale of software-centric sensors, subsea batteries, and underwater robotic systems. It provides high-resolution 3D acoustic imaging solutions and services to 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.

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:Stephen Griffin, Group Marketing [e-mail]

Joe MacKay, Chief Financial Officer(416) [e-mail]

Greg Reid, Chief Operating Officer(416) [e-mail]

Sean Peasgood, Investor Relations(647) [e-mail]