3 DAYLIGH I T H – Phase 3 Study in Patientst with Treatment-Naïve Wet AMD M The DAYLIGHT study t was a randomized, double-masked, active comparator-controlled study t evaluating the effi f cacy and safety of a high intensity dosing regimen of tarcocimab a in 557 treatment-naïve subj u ects with wet AMD. On July 24, 2023, Kodiak announced that the DAYLIGHT study t met the primary endpoint of non-inferior visual acuity gains at year 1 for tarcocimab a dosed monthly compared to aflib f ercept dosed every r 8 weeks following 3 monthly loading doses. Intraocular inflammation occurred in 3.3% of patients treated with monthly tarcocimab a and 0.4% of patients treated with aflib f ercept with no vasculitis or occlusion. GLEAM / GLIMMER E – Paired Phase 3 Studies in Patients with Treatment-Naïve Diabetic Macular Edem d a The GLEAM and GLIMMER studi t es were identically designed, randomized, double-masked, active comparator- controlled studi t es evaluating the effi f cacy, durability and safety of tarcocimab a in 460 and 457 treatment-naïve subj u ects with DME, respectively, run in parallel. On July 24, 2023, Kodiak announced that although high proportions of patients on meaningful f ly longer treatment intervals were observed with tarcocimab, a with half of patients on every r 24-week dosing at the primary r endpoint, the GLEAM and GLIMMER studi t es did not meet their primary effi f cacy endpoints of showing non-inferior visual acuity gains for tarcocimab a dosed every 8 to 24 weeks afte f r 3 monthly loading doses compared to aflib f ercept given every r 8 weeks afte f r 5 monthly loading doses. At the primary effi f cacy endpoint of the GLEAM study, t patients treated with tarcocimab gained an observed average of 6.4 eye chart letters (to 73.1 letters), compared with 10.3 letters for patients treated with aflib f ercept (to 76.5 letters). In GLIMMER, patients treated with tarcocimab a gained an observed average of 7.4 eye chart letters at the primary r endpoint (to 72.5 letters) compared with 12.2 letters (to 76.4 letters) for patients treated with afli f bercept. An unexpected increase in cataract adverse events was reported over time in the tarcocimab arms of both GLEAM and GLIMMER, with 19% on tarcocimab a versus 9% on afli f bercept at the primary endpoint based on the pooled safety population. Kodiak’s evaluation suggested that the decline in visual acuity associated with cataracts likely contributed meaningful f ly to the failure of each study. t Half of tarcocimab a treated patients in the GLEAM and GLIMMER studi t es were on every r 24-week dosing at the primary r endpoint, two-thirds achieved at least one 6-month dosing interval during the studi t es, and three-quarters achieved at least one 5-month or longer treatment interval. Intraocular inflammation was rare, occurring in 1.3% and 0.2% of tarcocimab and aflib f ercept treated patients, respectively. No cases of intraocular inflammation with vasculitis or vascular occlusion were observed. DAZZLE – Phase 2b/3/ Study in Patientst with Treatment-Naïve Wet AMD M The DAZZLE study t was a global, multi-center, randomized pivotal study t designed to evaluate the durability, effi f cacy and safety of tarcocimab a in patients with treatment-naïve wet AMD. In Februa r ry 2022 Kodiak announced that this initial pivotal study t did not meet its primary effi f cacy endpoint of non-inferior visual acuity gains for subj u ects dosed on extended regimens every r 12-, 16- or 20 weeks with tarcocimab compared to subj u ects given aflib f ercept every r 8 weeks. Following this announcement, Kodiak discontinued the study t and concluded remaining trial-associated activities. Given we have three successful f Phase 3 studi t es across three different diseases, an additional successful f pivotal study t in one of these indications is required for regulatory r approval. We believe tarcocimab a demonstrated strong and consistent durability of approximately 6 months for the majo a rity of patients and favorable safety across the full pivotal program, and we believe tarcocimab has the potential to become an important medicine for patients and a meaningful f ly differentiated product in the marketpl t ace. Therefor f e, we have activated GLOW2, a Phase 3 study t in diabetic retinopathy (“DR”). The GLOW2 stud t y has a similar design as GLOW1 with the benefit of an additional, third monthly loading dose (weeks 0, 4 and 8). We discussed the study t design with the FDA, and the study t is currently recrui r ting patients. Additionally, in light of the importance of wet AMD in today’s anti-VEGF market, we also plan to study t tarcocimab a as a second investigational arm in the KSI-501 Phase 3 DAYBREAK study t to evaluate its durability, strengthen its competitive position in wet AMD and bolster our ex-US regulatory r dossier. We are discussing the study t design of DAYBREAK with the FDA and plan to initiate the study t as soon as regulatory r alignment is completed, which we hope is mid-2024. We made adju d stments to the tarcocimab a product that improve the manufact f ur t ability in a prefille f d syringe and we believe may also enhance the utility of the product. We believe now is the time to implement these changes given the additional clinical studi t es we plan to conduct, and the FDA has agreed that these additional clinical studi t es should be sufficient to bridge the former material to the go-to-market material we would like to commercialize going forward. Both GLOW2 and DAYBREAK will be run using our go-to-market formulation of tarcocimab. a