AACT secures up to $2M working capital loan from sponsor for Kodiak Robotics merger costs

Kodiak AI, Inc.

Working capital loan from Ares Acquisition Holdings II LP for up to $2,000,000.
Loan is unsecured, non-interest bearing, matures at business combination or mandatory liquidation.
Proceeds used to finance transaction costs for proposed business combination with Kodiak Robotics.
Sponsor may convert principal into post-combination warrants at $1.00 per warrant.
Repayment limited to funds outside trust; no recourse to trust account.

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