88 In Summary: “Kodiak has designed a thoughtful bispecific trap- antibody-fusion protein. Early data from the Phase 1b APEX study are promising and show that –to date– the molecule appears safe and potent and to have a broad-spectrum activity in patients. I attribute this to the high strength and the dual anti-IL-6 and anti-VEGF mechanism. I see tremendous potential for KSI-101 to define a new treatment paradigm for patients with macular edema secondary to inflammation. The objective now is to reproduce this data in a pivotal program, in similar populations as the APEX study, and for the molecule to take a next step towards the commercial marketplace and the many general ophthalmology, retina and uveitis practices in need!” Sumit Sharma MD

Investor R&D Day Presentation - Page 87 Investor R&D Day Presentation Page 86 Page 88