2 specific MESI etiology, opening up the potential for KSI-101 to become a unifying treatment for this patient population. Based on APEX, the top two dose levels tested were selected to advance into the Phase 3 program. The PEAK and PINNACLE Phase 3 studies are actively enrolling MESI subjects at the 5 mg and 10 mg dose levels versus sham. Topline data readouts for PEAK and PINNACLE are expected in 4Q 2026 and 2Q 2027, respectively. Beyond its clinical pipeline, Kodiak is advancing its platform technology to embed small molecules and other active pharmaceutical ingredients (“API”), into Kodiak’s proprietary biopolymer backbone to enable high drug-antibody ratio (“DAR”) medicines. The diverse APIs are designed to be released over time to achieve targeted, multi-specific and tailored modulation of biological pathways. We believe this unique combination of high DAR and extended therapeutic benefit offers potential for broad and important utility for multifactorial ophthalmic and systemic diseases. We call this platform extension our Antibody Biopolymer Conjugate Drug (“ABCD”) Platform because we are extending our platform capabilities to include the conjugation of small molecule drugs whereas historically we primarily conjugated biologics such as antibodies. Our ABCD platform is advancing a next set of investigational therapies for high prevalence retinal diseases, including our novel “duet” technology for glaucoma and geographic atrophy. In addition to advancing our pipeline, we have made progress in process development and commercial scale manufacturing, including the commissioning and regulatory approval of Ursus, our dedicated commercial-scale drug substance manufacturing facility that was custom-designed and built in collaboration with Lonza, a leading drug contract manufacturing firm. We believe these manufacturing efforts could position Kodiak for potential market share capture if tarcocimab and KSI-501 are approved. To date, we have retained all global rights to make, use and sell its product candidates, which we believe preserves future value and allows for agile decision-making. Our objective is to develop our retina-focused product candidates, seek FDA approval and ultimately commercialize our product candidates in major markets. Zenkuda (tarcocimab) Clinical Program Summary Kodiak’s lead clinical program Zenkuda is an investigational anti-VEGF therapy built on Kodiak’s ABC platform and is designed to maintain potent and effective drug levels in ocular tissues for longer than existing available agents. It is being developed as a mainstay intravitreal biologic monotherapy intended to provide high immediacy, driven by its enhanced formulation and high durability from our ABC platform. Our ultimate objective is to provide a flexible 1-month through 6- month label to enable earlier treatment and prevention of vision loss for patients with diabetic retinopathy and to develop a new high immediacy and high durability agent to improve outcomes for patients with other retinal vascular diseases. To date, the original, clinical formulation of tarcocimab was studied in six pivotal clinical studies: Phase 3 GLOW1 study in diabetic retinopathy (“DR”), Phase 3 BEACON study in retinal vein occlusion (“RVO”), Phase 3 DAYLIGHT study in wet AMD, Phase 3 GLEAM and GLIMMER studies with identical study design in diabetic macular edema (“DME”), and Phase 2/3 DAZZLE study in wet AMD. Of the six registrational studies, GLOW1, BEACON and DAYLIGHT successfully met the primary endpoint. An enhanced, commercial formulation of tarcocimab was studied in one Phase 3 clinical trial, GLOW2, and is currently being studied in a second Phase 3 clinical trial DAYBREAK. The GLOW2 study in DR successfully met the primary endpoint, and DAYBREAK has completed enrollment. We anticipate being in a position to announce topline data for the primary endpoint for DAYBREAK in 3Q 2026 and intend to file a BLA for tarcocimab in DR, RVO and wet AMD. Both GLOW2 and DAYBREAK use tarcocimab’s enhanced 50 mg/mL formulation containing both conjugated and unconjugated antibody that is intended to deliver high immediacy and high durability. More information about study design and results, if completed, from each individual pivotal study are summarized next. Ongoing Phase 3 Studies DAYBREAK – Phase 3 Study in Patients with Wet Age-Related Macular Degeneration The Phase 3 DAYBREAK study is a non-inferiority study evaluating parallel investigational arms of Zenkuda and KSI- 501 against active comparator aflibercept. The DAYBREAK study incorporates learnings from prior pivotal trials of Zenkuda and was designed to maximize the probability of meeting the primary endpoint of non-inferiority in visual acuity gains. Patients randomized to Zenkuda will receive individualized dosing every 4 to 24 weeks on an as needed basis following four monthly loading doses. Patients randomized to aflibercept will be dosed per label. The individualized dosing of Zenkuda is determined by a treat-to-dryness proactive approach using the presence of retinal fluid as a disease activity marker, which resembles retina specialists' practice and optimizes each patient's treatment, instead of using a combination of central subfield thickness ("CST") and vision loss. The objectives for Zenkuda in DAYBREAK are to assess its durability potential, strengthen its competitive position in wet AMD and bolster the possible regulatory application package for the program. DAYBREAK was designed to demonstrate the potential for Zenkuda to be a mainstay biologic for VEGF-driven retinal vascular diseases