Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 124

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 124
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 lease termination of $356 was reported under other (income) expense on the consolidated statements of operations. The Company’s other operating leases include leases for certain office equipment. The following table presents the Company’s lease costs which are included in general and administrative expenses in the consolidated statements of operations: Years ended December 31, 2024 2023 Fixed lease expense $ 518,462 $ 567,380 Variable lease expense 311,719 195,637 Total operating lease expense 830,181 763,017 Short-term lease expense 41,258 58,379 Total lease expense $ 871,439 $ 821,396 Table of Contents NAUTICUS ROBOTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-23

Cash paid for operating leases was $397,376 and $338,979 for the years ended December 31, 2024 and 2023, respectively. The following table presents the balances of the Company’s right-of-use assets and lease liabilities included in the consolidated balance sheets: Years ended December 31, 2024 2023 Operating lease right-of-use assets, net $ 1,094,743 $ 834,972 Current portion of operating lease liabilities 435,307 244,774 Long-term operating lease liabilities 768,939 574,260 Total operating lease liabilities $ 1,204,246 $ 819,034 For operating lease assets and liabilities, the weighted average remaining lease term was 3 and 8.7 years as of December 31, 2024 and 2023, respectively. The weighted average discount rate used in the valuation over the remaining lease terms was 11.9% and 14.3% as of December 31, 2024 and 2023, respectively. The following table presents the Company's maturities of lease liabilities as of December 31, 2024: Years Ending December 31, Operating Leases 2025 $ 525,114 2026 535,268 2027 268,072 2028 25,385 2029 - 2030 onward - Total lease payments 1,353,839 Total present value discount (149,593) Operating lease liabilities $ 1,204,246 9. Commitments and Contingencies Litigation – From time to time, we may be subject to litigation and other claims in the normal course of business. No amounts have been accrued in the consolidated financial statements with respect