Kodiak AI, Inc. Warrant (Each warrant exercisable for one common share at $11.50, exercisable starting October 24, 2025, expires September 24, 2030)

Kodiak AI, Inc. Warrant is a derivative security that grants the right to purchase one common share of Kodiak AI, Inc. at a fixed price of $11.50 per share. The warrant becomes exercisable starting October 24, 2025, and remains valid until its expiration on September 24, 2030. This financial instrument allows holders to potentially benefit from an increase in Kodiak AI’s share price while leveraging capital efficiently, as it requires only the warrant premium until exercise. Kodiak AI, Inc., emerging from the business combination with Ares Acquisition Corporation II in late September 2025, is recognized as a leader in AI-powered autonomous vehicle technology, specializing in scalable solutions for the freight and logistics sector through its Kodiak Driver platform. The warrant plays a key role in broadening investor participation in Kodiak AI’s equity story, functioning as both a tool for capital raising and as an avenue for market participants to express expectations about the company’s future value within the rapidly growing autonomous transportation industry.