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Kraig Biocraft Laboratories Senior Management travels to Vietnam for Launch of Spring Trials

ANN ARBOR, Mich., – March 12, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Kraig Labs” or “the Company”), announces today that senior management members will travel to Vietnam this week to oversee the launch of the spring production trials and lay the groundwork for the Company’s planned commercial expansion.

The launch of the BAM-1 production trial is the next critical benchmark in the Company’s plan for commercial-scale production of recombinant spider silk. Management will closely monitor all aspects of the spring trials, which are seen as the probable blueprint for large-scale production of spider silk.

In addition to overseeing the spring production trials, senior management plans to lay the groundwork for further production growth, scouting and identifying down-market production partners, and finalizing agreements with private and governmental entities.

“We are excited to be on the verge of launching our much-anticipated spring production trials. Just as critically, we’re eager to finalize our agreements with various entities that we believe will be instrumental in Kraig Labs’ growth,” said Founder and CEO, Kim Thompson. “I look forward to joining our Vietnamese team as we launch production trials and gather critical data on the performance of our BAM-1 hybrid and its parent strains under real field conditions.”

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Preparing Additional Business Investment License to Advance its Business Operations

ANN ARBOR, Mich., – March 6, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Kraig Labs” or “the Company”), announces today that it is preparing a second business investment application in Vietnam as part of the planned expansion of its business operations. The Company expects to submit this second investment license application this month. 

This new license will be utilized in connection with the Company’s recently announced memorandum of understanding with the Lam Dong Agro-Forestry Research and Experiment Center (“LAREC”) and the Vietnam Sericulture Association (“VSA”). This collaboration is designed to advance sericulture in Vietnam by leveraging the Company’s proprietary silk technology and expertise from the LAREC and VSA. 

The Investment License application is part of the creation of a new wholly-owned subsidiary of Kraig Labs, to be named Prodigy Silk. Prodigy Silk will be headquartered in the Company’s recently announced facility in Lam Dong Province. The Company expects this facility to serve as the operational center for its spring production trials. Renovations of this facility are currently underway, and the Company expects it to be fully operational in time for the spring trials.

“This business investment in the highlands has been a long-term strategic goal for Kraig Labs,” said Founder and CEO, Kim Thompson. “Over the last two quarters, we have consistently hit our marks and checked the boxes on our business plan. Each milestone we hit prepares the way for the next milestone.”

The Company’s management intends to remain aggressive in the execution of its business plan for the production of recombinant spider silk in 2024.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Establishes Homozygosity and Confirms BAM 1 Hybrid Ready for Spring Production Trial

ANN ARBOR, Mich., – February 27, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Kraig Labs” or “the Company”), announces that it has achieved homozygosity for the spider silk gene in both of the parental strains for its new production hybrid. Establishing homozygosity for the targeted gene in both parental strains means that the Company’s new BAM 1 hybrid production system is optimized for recombinant spider silk production.

The BAM 1 hybrid represents the Company’s latest innovation in the commercialization of recombinant spider silk technology. Achieving homozygosity for both BAM 1 parental strains is another significant milestone in the commercialization of recombinant spider silk. The reason homozygosity is important is because it results in higher levels of spider silk protein expression.

“Our team set an aggressive deadline for achieving homozygosity in the BAM 1 hybrid ahead of our spring production trials,” said CEO and Founder, Kim Thompson. “Today, I am pleased to report they met that goal and that BAM 1 hybrids, which will be our primary production strain for the upcoming production season, is now optimized for recombinant spider silk expression. Our team continues to hit its marks, and I am looking forward to a very exciting year for Kraig Labs and the commercial launch of our revolutionary spider silk technology.” 

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Announces New Premium Spider Silk and Pima Cotton Composite Yarn

ANN ARBOR, Mich., – February 20, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Kraig Labs” or “the Company”), announces the creation of its first premium yarn combining its recombinant spider silk with Pima Cotton. This new yarn exemplifies the Company’s business model at work, capturing additional value-added vertical integration in the textile and garment markets.

This yarn was designed to blend the finest quality cotton with our remarkable spider silk to create a 100% natural fiber composite yarn for use in fabrics and finished garments. It was manufactured in collaboration with one of the world’s leading spinners of high-quality cotton yarns and fabrics. 

Working with its textile consultant, Jeff Dorton, the Company investigated several potential spinners before making a final selection. The decision was ultimately driven by the technical capabilities and production capacity of the spinner.

“This is just the first of many new materials we have planned that incorporate our revolutionary spider silk,” said CEO and Founder, Kim Thompson. “It seemed only fitting that our first composite yarns be blended with Pima Cotton, a luxurious natural fiber that compliments the natural elegance of our recombinant spider silk. With our spring production trials quickly approaching, identifying these first end markets and applications for commercial volumes of silk is a key focus of our team.”

The Company developed its first cotton-spider silk blend to target markets such as luxury dress wear and apparel. Kraig Labs is working to establish additional spider silk and natural fiber blends to address additional subsegments in formal wear. While these blends are targeted for luxury and fashion wear, the Company remains focused on its development of technical applications for its spider silk materials in defensive textiles, composites, and performance apparel.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Announces New Spider Silk Production Facility in Vietnam’s Silk Capital

ANN ARBOR, Mich., – February 13, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company” or “Kraig Labs”), announces it has now taken possession of its new recombinant spider silk production center in Lam Dong Province, Vietnam. This new facility is located in the heart of Vietnam’s booming silk economy and will serve as the center of operations for the Company’s growing spider silk production in 2024.

The Company selected this facility and is opening this new operations center to support the significant expansion of silk production scheduled for spring 2024. 

Securing this new facility is happening in parallel with the Company’s recently announced MOU with the Vietnam Sericulture Association (“VSA”) and Lam Dong Agro-Forestry Research and Experiment Center (“LAREC”). 

Kraig Labs expects this center will serve as a central location for collaboration with the VSA and LAREC to enhance sericulture in Vietnam. The Company anticipates this facility will also serve as the distribution and collection hub for the resulting recombinant spider silk fibers, yarns, and fabrics. 

The facility is located in the center of Vietnam’s largest silk-producing region, providing excellent access to fresh mulberry, skilled sericulture staffing, and cocoon reeling facilities.

“We are prepared for 2024 to be a breakthrough year for the commercialization of spider silk. Positioning our operations in the heart of Vietnam’s silk manufacturing center is a significant element of that growth,” said CEO and Founder, Kim Thompson. “Our team is now preparing for the spring production trials and the launch of our new BAM 1 hybrid. We expect to have this new facility online to support these exciting milestones and the commercialization of our cost-effective, eco-friendly spider silk.”

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Announces Creation of Production Ready Spider Silk Hybrid: BAM 1

ANN ARBOR, Mich., – February 6, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”), announces the successful creation of a new recombinant spider silk hybrid. This new two-strain hybrid is the result of the Company’s successful program to produce larger and more robust production strains ahead of its Spring production trials. The Company’s technology utilizes scientifically enhanced silkworms to produce recombinant spider silk.

This enhanced silkworm hybrid, designated by the Company as BAM 1, is the result of careful selective breeding to maximize both robustness and the ratio of usable silk per cocoon. Based upon its initial evaluation and a comparison of genetics, the Company believes that this new two-strain hybrid is the most efficient spider silk production system produced to date. The finished cocoons were tested for cocoon size and silk yield.

The development of this new hybrid involved the careful selective breeding of the Company’s Dragon SilkTM strain with numerous pure commercial production silkworm strains. Once the Company’s spider silk traits were bred and stabilized in the commercial strains, a series of cross-mattings were completed to test the results of various pairings.

This new hybrid produces more useable silk per cocoon than previous hybrid pairings and is expected to make the transition from development into operations in the first and second quarters of 2024. 

“This new hybrid will play a key role in our production trials. Our team is currently scaling up production of the two parental lines used to create this hybrid. One of those parental lines is already homozygous for the spider silk gene. The next milestone, which we believe is imminent, will be to establish homozygosity with the second parental strain,” said Founder and CEO, Kim Thompson. “The BAM 1 recombinant spider silk hybrid will be the central player in Kraig Labs’ spring production trials.”

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of recombinant spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Signs Pivotal MOU in Vietnam’s Silk Production Capital

ANN ARBOR, Mich., – January 30, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”), signs key Memorandum of Understanding (MOU) with the Vietnam Sericulture Association (VSA) and the Lam Dong Agro-Forestry Research Experiment Center (LAREC). This collaboration is designed to enhance and expand silk production in Vietnam. 

The agreement is the result of many years of work, culminating in a highly productive working session held between Kraig Labs senior management, the VSA, the LAREC, various VSA members, and Prodigy Textiles, the Company’s Vietnamese subsidiary. Under the guidance of this MOU, the Company will partner with these leading agencies to enhance and expand Vietnam’s silk production. 

“We have been working with various governmental ministries, agencies, and departments for an extended period of time in order to demonstrate our silk production technology and to tailor that technology to the local environment,” said Company founder and CEO, Kim K. Thompson. “The MOU, and the collaboration it represents, opens up new opportunities for advanced fiber commercialization. Our goal now is to meet the challenge of expanding spider silk production to commercial scale in 2024.” 

In addition to this pivotal partnership with the VSA and the LAREC, Kraig Labs also reports that it is working aggressively to expand its production capacities and footprint in the first quarter of 2024. The Company’s plan is to achieve metric-ton production of spider silk later this year.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news   

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Targets Vertical Markets for its Spider Silk and Shares Planned Applications 

ANN ARBOR, Mich., – January 22, 2024 –Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“the Company”), shares an update on near-term commercial applications and opportunities for recombinant spider silk as the Company prepares for expanding production in 2024. Spider silk has long been prized for its unique blend of chemical and mechanical properties, including strength and elasticity.

Kraig Labs is currently in the process of ramping up production trials of its recombinant spider silk under the trademark Dragon SilkTM. The move to ramp up production follows on the heels of the Company’s successful early production test announced in December.

During the ramp-up phase, while production quantities are relatively limited, the Company is targeting end-product applications in fashion and performance apparel. “Because production quantities will be relatively limited during the early stages of the production ramp-up, and because we will have control of that limited supply of Dragon Silk, it makes sense for us to focus on markets where we can control the end use of the Dragon Silk That will allow us to potentially share in a portion of the value-added manufacturing and distribution beyond the creation of the recombinant spider silk itself,” said Company Founder and CEO, Kim Thompson. “In essence, we are looking for partial vertical integration in these early spider silk products to maximize our market position.”

As production quantities increase, the Company expects to begin addressing demand from additional market segments, including:

  • Engineering textiles
  • Composites
  • Cosmetics
  • Defensive and protective textiles
  • Bio-plastics that are biodegradable and bio-compatible
  • Fiber optics
  • Medical textiles, fibers, ligaments, wound dressings, skin grafts, and tissue engineering

The Company believes that the enhanced strength and toughness of its Dragon Silk line of materials, combined with their bio-degradable and biocompatible properties, will be able to address existing material needs in these markets and many more.

Kraig Labs has already begun early-stage exploration into bio-plastics, medical textiles, cosmetics & defensive textile applications and expects to accelerate work in these fields as production of spider silk increases.

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news   

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company is the leading developer of genetically engineered spider silk based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Kraig Biocraft Laboratories Joins Vietnam Sericulture Association

ANN ARBOR, Mich., Jan. 9, 2024– Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, today announces its Vietnamese subsidiary, Prodigy Textiles (“Prodigy”), has joined the Vietnam Sericulture Association (“VSA”).

Kraig Labs’ and Prodigy’s senior management met with leaders of the VSA in December. These meetings took place during the Company’s management review of current operations and planned expansion of recombinant spider silk production in 2024. 

The Company is excited to work with the VSA and support their vision for enhancing silk production and strengthening overall sericulture in Vietnam. 

“Joining the Vietnam Sericulture Association is part of Kraig Labs’ commitment to building strong ties within the sericulture industry and expanding our operational role in the continued growth of Vietnam as a global leader in silk production,” said company Founder and CEO, Kim Thompson. “We believe that there is a very large potential to increase and grow Vietnam’s silk production, and we are working to make our recombinant spider silk a part of that growth.” 

To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news

About Kraig Biocraft Laboratories, Inc.

Kraig Biocraft Laboratories, Inc. ( www.KraigLabs.com ), a reporting biotechnology company, is the leading developer of genetically engineered spider silk-based fiber technologies.

The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.

Cautionary Statement Regarding Forward-Looking Information

Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward-looking statements include descriptions of the Company’s

Ben Hansel, Hansel Capital, LLC

(720) 288-8495

ir@KraigLabs.com

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Season’s Greetings from Kraig Labs’ CEO, Kim Thompson

The holiday season is here, and with it, the opportunity to reflect on the past year’s accomplishments and challenges.

We started 2023 with a concentrated program to strengthen our production silkworm strains with the goal of increasing their robustness and tolerance for the commercial production environment. We undertook this program because our study of our previous attempts to ramp up production indicated that our laboratory strains may have been overly inbred or otherwise lacked the necessary robustness to carry out our production objectives.

This process involved selective breeding over many generations and isolating target traits while crossbreeding with more robust specimens. The ultimate goal was to create two, and ultimately four, separate strains of our silkworm, which, when crossed with each other, would produce significant hybrid vigor. This program has been very successful.

That success, along with the items described below, has positioned us well for 2024. Over the past year, we have created nine new silkworm strains to improve robustness. We are now concentrating on six of those strains, half of which are ready or nearly ready for field trials. One of those strains is already homozygous for the spider silk transgene, and we expect two more strains to be homozygous within two more generations.

We performed an early field test with two of these strains, as described in a recent press release. The results greatly exceeded our expectations. This testing with a two-strain hybrid created the largest caterpillars and cocoons Kraig Labs has ever produced. As we look to the 2024 silk-producing season, these new lines will become the bedrock upon which future production is built. We have additional strains in earlier stages of development that we hope to roll out in the third or fourth quarter of 2024 for double hybrid production.

While our core focus remains on the immediate commercialization of existing spider silk technologies, our molecular biology team continues to work on the next generation of materials. This work continues to advance forward but is moving more slowly than we had hoped. This delay is primarily related to our transition to more advanced technology platforms. Our work is now focused on larger, more complex silk protein designs as well as newer splicing technologies that have challenged our team. We had hoped to announce the creation of a new transgenic in November, but we have not hit that mark. We will add additional resources to our molecular biology team in early 2024 to speed up this process. We remain confident in our ability to further improve our spider silks and obtain goals which we have not yet publicly announced. As new transgenics are produced and verified, we will continue to share those updates with you.

As I sit down to write this year in review update, I have just returned from a very successful trip to Vietnam. I come to you today re-invigorated by the exciting opportunities ahead for Kraig Labs, our shareholders, and spider silk. A recent small-scale test of changes in our production system was successful. In the process of that test, we also learned how we can improve our procedures and business model beyond mere silkworm robustness to achieve our production objectives. We have active negotiations in process with public and private sector actors, which would have been unimaginable six months ago.

I founded Kraig Labs with the vision of becoming a world leader in the bio-engineering of spider silk. Our team met that challenge by creating our silkworm-based spider silk production platform, by creating Dragon SilkTM, and now the six new production strains we created in 2023. Our core competency has been molecular biology. Our shortfall has been translating our successes in the laboratory to sericulture and production success outside of that environment.

Through our work at our subsidiary, Prodigy Textiles, we have come to better understand the global silk industrial base and the narrow pinch-points in silk manufacturing. Nearly all global silk production results from silkworm eggs produced in either India or China and then shipped worldwide. This is a matter of critical importance which directly affects the nature of sericulture as practiced in virtually all other countries. The breeding of silkworms and the production of eggs is a highly specialized and narrowly concentrated skill set that goes beyond hatching silkworms and rearing them for production.

In Vietnam, there has traditionally been little to no silkworm egg production for mass commercialization. The importance of mastering egg production cannot be overstated, and it is an area where our efforts were falling short. We are investing considerable resources to become world leaders in this field as well. While we have always done breeding and egg production in our laboratories, we found, through the school of hard knocks, that our skill sets in this area did not translate outside of the environmentally controlled lab.

Kraig Labs has now engaged leading experts from India to assess, train, and revamp our domestic and international operations to meet the exacting standards used in India’s commercial silk operations. These leaders in their field, from the fastest-growing silk producer in the world, are now advising us on all aspects of our sericulture operations, from breeding and strain development to disease screening and management. We expect to bring them to our overseas operations in early 2024 to work hand in hand with our team as we drive toward our target of metric-ton spider silk production.

These experts have already brought much clarity to the hows and whys of past production shortcomings. While the robustness of our silkworms was a factor, it was not the only factor. With their help, we are now establishing control over those variables. My commitment to making Kraig Labs a world-class organization means having the absolute best people. Our team of consultants from India represents the out-and-out best of the best when it comes to metric-ton scale silk production.

With our new friends from India and the opportunities that lie before us, we plan to make 2024 the greatest year yet for Kraig Labs and the commercialization of spider silk. We are very excited to get to work in 2024, unlocking the potential of this enterprise. It is from that perspective that we look forward to the New Year and new horizons.

From our team at Kraig Labs, we hope your holiday season is spent with loved ones and filled with joy. We thank you for your continued support as we work to revolutionize the textile industry and deliver the incredible opportunities that await our spider silk.

Season’s Greetings, Happy New Year, Merry Christmas, and Happy Hanukkah to all our shareholders and the world.

Kim Thompson and the entire Kraig Labs’ family

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