<SEC-DOCUMENT>0001193125-25-212154.txt : 20250923
<SEC-HEADER>0001193125-25-212154.hdr.sgml : 20250923
<ACCEPTANCE-DATETIME>20250923064013
ACCESSION NUMBER:		0001193125-25-212154
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250923
DATE AS OF CHANGE:		20250923

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ares Acquisition Corp II
		CENTRAL INDEX KEY:			0001853138
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373]
		ORGANIZATION NAME:           	06 Technology
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41691
		FILM NUMBER:		251331698

	BUSINESS ADDRESS:	
		STREET 1:		C/O ARES MANAGEMENT LLC
		STREET 2:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
		BUSINESS PHONE:		310-201-4100

	MAIL ADDRESS:	
		STREET 1:		C/O ARES MANAGEMENT LLC
		STREET 2:		245 PARK AVENUE, 44TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10167
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d946584ddefa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD>
<TITLE>DEFA14A</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">8-K</FONT> </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): September&nbsp;22, 2025 </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>ARES ACQUISITION CORPORATION II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Cayman Islands</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-41691</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">98-1592112</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>245 Park Avenue, 44th Floor</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center"><B>New York, New York</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>10167</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(310) <FONT STYLE="white-space:nowrap">201-4100</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#8217;s telephone number, including area code) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities registered pursuant to Section&nbsp;12(b) of the Act: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Trading<BR>Symbol(s)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>on which registered</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Units, each consisting of one Class&nbsp;A Ordinary Share, par value $0.0001 per share, and <FONT STYLE="white-space:nowrap">one-half</FONT> of one redeemable warrant</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">AACT.U</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">New York Stock Exchange</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Class&nbsp;A Ordinary Shares, par value $0.0001 per share</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">AACT</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">New York Stock Exchange</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">Redeemable warrants, each whole warrant exercisable for one Class&nbsp;A Ordinary Share at an exercise price of $11.50</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">AACT WS</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">New York Stock Exchange</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (&#167;230.405 of this chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&#8194;&#9746; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&#8194;&#9744;
</P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
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<TD WIDTH="11%" VALIGN="top" ALIGN="left"><B>Item&#8201;3.02</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Unregistered Sales of Equity Securities. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information disclosed in Item 8.01 of this on Form 8-K (this &#8220;<U>Current Report</U>&#8221;) is incorporated by reference into this
Item 3.02. The <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (as defined below), the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (as defined below) and shares of Common Stock (as defined below) issuable upon
exercise of the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants that are being offered to investors pursuant to each <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement - Warrant (as defined below) and <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement &#8211; Stock (as defined below), as applicable, will be issued pursuant to one or more exemptions under&nbsp;Rule 4(a)(2) or&nbsp;Regulation D&nbsp;under the Securities Act of 1933, as
amended (the &#8220;<U>Securities Act</U>&#8221;), based on representations made by the investors in the <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements. </P> <P STYLE="font-size:17pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="11%" VALIGN="top" ALIGN="left"><B>Item&#8201;7.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Regulation FD Disclosure. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On September&nbsp;23, 2025, Ares Acquisition Corp II, a Cayman Islands exempted company (&#8220;<U>AACT</U>&#8221;), and Kodiak Robotics, Inc.,
a Delaware corporation (&#8220;Legacy Kodiak&#8221;), issued a joint press release announcing certain updates related to the proposed business combination (as defined below) and the Extraordinary General Meeting (as defined below). The press release
is furnished as Exhibit 99.1 and incorporated by reference into this Item 7.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing (including Exhibit 99.1) is being furnished
pursuant to Item 7.01 and will not be deemed to be filed for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#8220;<U>Exchange Act</U>&#8221;), or otherwise be subject to the liabilities of that section, nor will
it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act. </P> <P STYLE="font-size:17pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="11%" VALIGN="top" ALIGN="left"><B>Item&#8201;8.01</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Other Events. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously announced on April 14, 2025, AACT, Legacy Kodiak, and AAC II Merger Sub, Inc., a Delaware corporation, have entered into a
Business Combination Agreement (the &#8220;<U>Business Combination Agreement</U>&#8221;), in connection with the proposed business combination between AACT and Legacy Kodiak (the &#8220;<U>proposed business combination</U>&#8221;). Pursuant to the
terms of the Business Combination Agreement, subject to obtaining the required shareholder approvals and at least one day prior to the time of the closing (the &#8220;<U>Closing</U>&#8221;) of the proposed business combination, AACT will deregister
as a Cayman Islands exempted company and transfer by way of continuation to and domesticate as a corporation incorporated under the laws of the State of Delaware (the &#8220;<U>Domestication</U>&#8221;). In connection with the Domestication, AACT
will change its name to &#8220;Kodiak AI, Inc.&#8221; (such company after the Domestication, &#8220;Kodiak&#8221;). In connection with the Closing, each then issued and outstanding Class A ordinary share of AACT, par value $0.0001 per share (the
&#8220;<U>Class A Ordinary Shares</U>&#8221;), will convert automatically, on a one-for-one basis, into one share of common stock, par value $0.0001 per share, of Kodiak (the &#8220;<U>Common Stock</U>&#8221;). On August 29, 2025, AACT filed a
definitive proxy statement (as supplemented, the &#8220;<U>proxy statement/prospectus</U>&#8221;) in connection with the extraordinary general meeting of shareholders of AACT (the &#8220;<U>Extraordinary General Meeting</U>&#8221;), to vote upon,
among other things, a proposal to adopt and approve the transactions contemplated by the Business Combination Agreement. </P> <P STYLE="margin-top:17pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Non-Redemption Agreements
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Non-Redemption Agreement - Warrant </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On September 22, 2025, AACT entered into non-redemption agreements (each, a &#8220;<U>Non-Redemption Agreement - Warrant</U>&#8221;) with
certain unaffiliated third-party holders of Class A Ordinary Shares (such third-party holders, the &#8220;NRA Warrant Investors&#8221;) in exchange for such NRA Warrant Investors&#8217; agreement to not redeem (or to rescind their redemption request
of) an aggregate of 2,453,763 Class A Ordinary Shares in connection with the Extraordinary General Meeting. In exchange for such commitment, AACT agreed that immediately following the consummation of the proposed business combination, Kodiak will
issue to the NRA Warrant Investors, for no additional consideration, warrants to purchase up to an aggregate of 7,606,666 shares of Common Stock (the &#8220;<U>Non-Redemption Warrants</U>&#8221;). </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Non-Redemption Warrants will be immediately exercisable upon issuance and will expire six years from the closing date of the Business
Combination. The Non-Redemption Warrants, if exercised, will be exercised on a cash or cashless basis at Kodiak&#8217;s election. Each Non-Redemption Warrant is initially exercisable at $12.00 per share of Common Stock, subject to adjustments for
stock dividends, splits, combinations and similar events and customary anti-dilution adjustments, including with respect to certain future issuances or sales of Common Stock at prices less than the exercise price then in effect. In addition, if the
trailing 45-day volume-weighted average price of Common Stock on the 46th trading day following the date that is six months after the date of the closing date of the proposed business combination (the &#8220;<U>Closing Date</U>&#8221;) is less than
the exercise price then in effect, the exercise price will be adjusted to the greater of (i) such volume weighted average price and (ii) $8.00. Further, if the trailing 45-day volume-weighted average price of Common Stock on the 46th trading day
following the date that is nine months after the Closing Date is less than the exercise price then in effect, the exercise price will be adjusted to the greater of (i) such volume weighted average price and (ii) $6.00. Each Non-Redemption Agreement
- Warrant also provides for certain customary registration rights with respect to the shares of Common Stock underlying the Non-Redemption Warrants. </P>
<P STYLE="margin-top:11pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Non-Redemption Agreement - Warrant shall terminate and be in no further force or effect upon the earliest to occur of (a) the termination
of the Business Combination Agreement in accordance with its terms, (b) the mutual written consent of the parties thereto and (c) the grant of the applicable Non-Redemption Warrants to such NRA Warrant Investor following the consummation of the
proposed business combination. </P> <P STYLE="margin-top:0pt;margin-bottom:0pt;page-break-before:always"></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Non-Redemption Agreements &#8211; Stock
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On September 22, 2025, AACT and Legacy Kodiak entered into non-redemption agreements (each, a &#8220;<U>Non-Redemption Agreement
&#8211; Stock</U>&#8221;) with several unaffiliated third-party holders of Class A Ordinary Shares (such third-party holders, the &#8220;<U>NRA Common Stock Investors</U>&#8221;) on the same terms in exchange for their agreement to not redeem (or to
rescind their redemption request of) an aggregate of 865,949 Class A Ordinary Shares in connection with the Extraordinary General Meeting. In exchange for the foregoing commitment, AACT has agreed that immediately prior to the consummation of the
proposed business combination, Kodiak will issue the NRA Common Stock Investors, for no additional consideration, an aggregate of 368,028 shares of Common Stock (the &#8220;<U>Non-Redemption Shares</U>&#8221;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Non-Redemption Agreement - Stock provides for certain customary registration rights with respect to the Non-Redemption Shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Non-Redemption Agreement - Stock shall terminate and be in no further force or effect upon the earliest to occur of (a) the termination
of the proposed business combination agreement in accordance with its terms and (b) the mutual written consent of the parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each
Non-Redemption Agreement-Warrant and Non-Redemption Agreement - Stock is expected to increase the amount of funds that remain in the Trust Account established in connection with AACT&#8217;s initial public offering following the Extraordinary
General Meeting. AACT and Legacy Kodiak may enter into additional, similar non-redemption agreements prior to or in connection with the Extraordinary General Meeting on substantially similar terms to the form of Non-Redemption Agreement - Stock or
Non-Redemption Agreement - Warrant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing descriptions of the Non-Redemption Agreement - Warrant and Non-Redemption Agreement -
Stock are subject to and qualified in its entirety by reference to (i) the full text of the form of Non-Redemption Agreement - Warrant, a copy of which is included as Exhibit 10.1 to this Current Report; (ii) the full text of the form of
Non-Redemption Agreement - Stock, a copy of which is attached as Exhibit 10.2 to this Current Report; and (iii) the full text of the form Warrant Certificate for the Non-Redemption Warrants, a copy of the form of which is attached as Exhibit 4.1 to
this Current Report, and the terms of each are incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this Item&nbsp;8.01, capitalized terms
used but not defined in this Current Report shall have the meanings given to such terms in the proxy statement/prospectus. In addition, other than as modified by the information presented in this Current Report, this Item 8.01 reflects the
qualifications, estimates and assumptions set forth in the proxy statement/prospectus. The information presented in this Current Report updates and supersedes the proxy statement/prospectus in all respects. For the avoidance of doubt, in the event
of any discrepancy between the information presented in this Current Report and the proxy statement/prospectus, this information presented in this Current Report shall prevail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Stock Issuance Proposal of the proxy statement/prospectus is hereby updated to disclose the potential additional issuances of Common Stock
to the NRA Common Stock Investors and following exercise of the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants. As described above, in addition to the issuances previously disclosed in the proxy statement/prospectus, Kodiak expects
to (i)&nbsp;issue an aggregate of 368,028&nbsp;shares of Kodiak Common Stock to the NRA Common Stock Investors pursuant to all <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement - Stock that are currently in effect; and (ii)&nbsp;issue
the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants, which will be immediately exercisable into 7,606,666&nbsp;shares of Common Stock. Kodiak and AACT may opportunistically seek additional capital in connection with or following the
consummation of the proposed business combination to provide additional support for the Kodiak&#8217;s operating plan. As a result, Kodiak may issue additional Common Stock or securities convertible into or exercisable for Common Stock or other
securities pursuant to subscription, purchase or similar agreements AACT may enter into prior to Closing. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">AACT&#8217;s existing shareholders will experience dilution from the issuance of Common
Stock to the NRA Common Stock Investors and, to the extent that any of the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants are exercised for shares of Common Stock, AACT&#8217;s existing shareholders may experience additional
dilution. Such dilution could, among other things, limit the ability of AACT&#8217;s current shareholders to influence Kodiak&#8217;s management through the election of directors following the Closing Date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Postponement of Extraordinary General Meeting </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On August&nbsp;29, 2025, AACT filed the proxy statement/prospectus for the solicitation of proxies in connection with the Extraordinary General
Meeting, as supplemented by the proxy statement/prospectus supplement No. 1, dated September 15, 2025. The Extraordinary General Meeting was originally scheduled to be held at 9:00 a.m., Eastern Time, on September&nbsp;23, 2025, to be held in person
at the offices Kirkland&nbsp;&amp; Ellis LLP located at 601 Lexington Avenue, New York, New York 10022 and virtually via live webcast at<U>&nbsp;https://www.cstproxy.com/aresacquisitioncorporationii/egm2025</U>. The board of directors of AACT has
decided to postpone the Extraordinary General Meeting to allow additional time for AACT to engage with its shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The postponed
meeting will be held on September&nbsp;23, 2025, at 2:00 p.m., Eastern Time, at the offices of Kirkland&nbsp;&amp; Ellis LLP located at 601 Lexington Avenue, New York, NY 10022 and conducted virtually via live webcast
at<U>&nbsp;https://www.cstproxy.com/aresacquisitioncorporationii/egm2025</U>. If you do not have access to the internet, you can listen only to the meeting by dialing
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1&nbsp;800-450-7155&nbsp;(toll-free)</FONT></FONT> (or <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">+1&nbsp;857-999-9155&nbsp;if</FONT></FONT> you are located
outside the United States and Canada (standard rates apply)) and when prompted enter the pin number 8489057#. Please note that you will not be able to vote or ask questions at the Extraordinary General Meeting if you choose to participate
telephonically. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All of AACT&#8217;s shareholders of record as of the close of business on August&nbsp;20, 2025, are entitled to vote at
the Extraordinary General Meeting. AACT&#8217;s shareholders who have not already voted, or wish to change their vote, are strongly encouraged to submit their proxies as soon as possible. Valid proxies previously submitted by shareholders will
continue to be valid for purposes of the postponed Extraordinary General Meeting. For more information on how to vote, please call the AACT&#8217;s proxy solicitor, Sodali&nbsp;&amp; Co, at
<FONT STYLE="white-space:nowrap">(800)&nbsp;662-5200&nbsp;for</FONT> shareholders or <FONT STYLE="white-space:nowrap">(203)&nbsp;658-9400&nbsp;for</FONT> bankers and brokers or email <U>AACT.info@investor.sodali.com</U>. More details about the
proposed business combination and the resolutions to be voted upon at the Extraordinary General Meeting can be found in the proxy statement/prospectus relating to the proposed business combination which is available
at:&nbsp;<U>http://www.sec.gov</U>. AACT reminds its shareholders that the AACT Board and the Special Committee have each recommended that AACT shareholders vote in favor of the proposed business combination. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Redemptions </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the
Extraordinary General Meeting, holders of 43,866,808 Class&nbsp;A Ordinary Shares validly exercised (and did not reverse or rescind, or agree to reverse or rescind, such redemption request) their right to redeem their shares for cash at a redemption
price of approximately $11.45 per share, for an aggregate redemption amount of approximately $502.4&nbsp;million after giving effect to the actions contemplated by each Non-Redemption Agreement - Stock and Non-Redemption Agreement - Warrant. As a
result, approximately $502.4&nbsp;million will be removed from the Trust Account to redeem such shares. After the redemptions have been effected, there will be 5,492,904 Class&nbsp;A Ordinary Shares held by public shareholders outstanding and
17,992,904 total Class&nbsp;A Ordinary Shares issued and outstanding. Upon payment of the redemptions, approximately $62.9&nbsp;million will remain in the Trust Account before expenses, including an aggregate of 880,000 Class A Ordinary Shares that
offset an aggregate of $10.0 million of commitments under AACT&#8217;s previously announced private placement of Class A Ordinary Shares that will close in connection with the Closing. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward Looking Statements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current
Report includes &#8220;forward-looking statements&#8221; including regarding AACT&#8217;s or Legacy Kodiak&#8217;s or their management teams&#8217; expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking
statements may be identified by the use of words such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221;
&#8220;may,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would&#8221; and similar expressions that predict or indicate future events or trends or that
are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding: Legacy Kodiak&#8217;s and
AACT&#8217;s expectations with respect to the completion of investments into AACT or Legacy Kodiak, the impact or effect of the <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements, the future performance and the success of the combined
company following the consummation of the proposed business </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">combination (the &#8220;<U>combined company</U>&#8221;); the expected benefits of the proposed business
combination; the capitalization of the combined company after giving effect to the proposed business combination; Legacy Kodiak&#8217;s future capital requirements and sources and uses of cash; expectations regarding Legacy Kodiak&#8217;s expansion
plans and opportunities; and the completion of any additional incremental financing. These statements are based on various assumptions, whether or not identified in this Current Report, and on the current expectations of Legacy Kodiak&#8217;s and
AACT&#8217;s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an
assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Legacy
Kodiak and AACT. These forward-looking statements are subject to a number of risks and uncertainties, including changes in business, market, financial, political and legal conditions; the rapid evolution of autonomous vehicle technology and flaws or
errors in Legacy Kodiak&#8217;s solutions or flaws in or misuse of autonomous vehicle technology in general; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk that any regulatory
approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the equity holders of Legacy
Kodiak or AACT is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks related to the rollout of Legacy Kodiak&#8217;s business and the timing of expected business milestones; the effects of
competition on Legacy Kodiak&#8217;s business; supply shortages in the materials necessary for the production of the Kodiak Driver; risks related to working with third-party manufacturers for key components of the Kodiak Driver; risks related to the
retrofitting of Legacy Kodiak&#8217;s vehicles by third parties; the termination or suspension of any of Legacy Kodiak&#8217;s contracts or the reduction in counterparty spending; delays in Legacy Kodiak&#8217;s operational roadmap with key partners
and customers; and the ability of AACT or the combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future. Additional information concerning these and other factors that may
impact such forward-looking statements can be found in filings and potential filings by Legacy Kodiak, AACT or the combined company resulting from the proposed business combination with the SEC, including under the heading &#8220;Risk Factors&#8221;
contained in the proxy statement/prospectus. If any of these risks materialize or any assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks
that neither Legacy Kodiak nor AACT presently know or that Legacy Kodiak and AACT currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking
statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by investors as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, forward-looking statements reflect Legacy Kodiak&#8217;s and AACT&#8217;s expectations, plans or forecasts of future events and views as of the
date of this Current Report. Legacy Kodiak and AACT anticipate that subsequent events and developments will cause Legacy Kodiak&#8217;s and AACT&#8217;s assessments to change. However, while Legacy Kodiak and AACT may elect to update these
forward-looking statements at some point in the future, Legacy Kodiak and AACT specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Legacy Kodiak&#8217;s
or AACT&#8217;s assessments as of any date subsequent to the date of this Current Report. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither Legacy Kodiak, AACT, nor any of their respective affiliates have
any obligation to update these forward-looking statements other than as required by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, this Current Report contains certain information
about the historical performance of Legacy Kodiak. You should not view information related to the past performance of Legacy Kodiak as indicative of future results. Certain information set forth in this Current Report includes estimates and targets
and involves significant elements of subjective judgment and analysis. No representations are made as to the accuracy of such estimates or targets or that all assumptions relating to such estimates or targets have been considered or stated or that
such estimates or targets will be realized. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current Report relates to the proposed business combination between Legacy Kodiak and AACT. In connection with the proposed business
combination, AACT and Legacy Kodiak initially filed a registration statement <FONT STYLE="white-space:nowrap">on&nbsp;Form&nbsp;S-4&nbsp;with&nbsp;the</FONT> SEC on May&nbsp;14, 2025
<FONT STYLE="white-space:nowrap">(File&nbsp;No.&nbsp;333-287278)</FONT> (as&nbsp;amended from time to time, the &#8220;<U>Registration Statement</U>&#8221;), which includes a prospectus with respect to the combined company&#8217;s securities to be
issued in connection with the proposed business combination and a preliminary proxy statement with respect to the shareholder meeting of AACT to vote on the proposed business combination. The Registration Statement was declared effective by the SEC,
and AACT commenced mailing, on August&nbsp;29, 2025, the proxy statement/prospectus to the shareholders of AACT as of the record date established for voting on the proposed business combination.&nbsp;SECURITY HOLDERS OF LEGACY KODIAK AND AACT ARE
URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY
WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED BUSINESS
COMBINATION. Shareholders are able to obtain free copies of the proxy statement/prospectus and other documents containing important information about Legacy Kodiak and AACT once such documents are filed with the SEC through the website maintained by
the SEC at http://www.sec.gov. In addition, the documents filed by AACT may be obtained free of charge from AACT at www.aresacquisitioncorporationii.com. Alternatively, these documents, when available, can be obtained free of charge from AACT upon
written request to Ares Acquisition Corporation II, 245 Park Avenue, 44th Floor, New York, New York 10167, Attn: Secretary, or by <FONT STYLE="white-space:nowrap">calling&nbsp;(888)&nbsp;818-5298.</FONT> The information contained on, or that may be
accessed through, the websites referenced in this Current Report is not incorporated by reference into, and is not a part of, this Current Report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">AACT,
Legacy Kodiak and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of AACT in connection with the proposed business combination. Security holders may obtain more
detailed information regarding the names, affiliations and interests of certain of AACT&#8217;s executive officers and directors in the solicitation by reading AACT&#8217;s final prospectus related to its initial public offering filed with the SEC
on April&nbsp;24, 2023, the proxy statement/prospectus, and the Registration Statement which was declared effective by the SEC on August&nbsp;29, 2025, and other relevant materials filed with the SEC in connection with the proposed business
combination when they become available. Information concerning the interests of AACT&#8217;s participants in the solicitation, which may, in some cases, be different from those of AACT&#8217;s shareholders generally, is set forth in the preliminary
proxy statement/prospectus included in the Registration Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Offer or Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current Report shall not constitute a solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the
proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of AACT, Legacy Kodiak or the combined company resulting from the proposed business combination, nor shall there be any sale
of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made
except by means of a prospectus meeting the requirements of the Securities Act. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="11%" VALIGN="top" ALIGN="left"><B>Item&#8201;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Financial Statements and Exhibits. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="93%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Description</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Non-Redemption Warrant Certificate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement - Warrant</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement - Stock</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release, dated as of September&nbsp;23, 2025</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>104</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Cover Page Interactive Data File (embedded within the Inline XBRL document).</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: September&nbsp;23, 2025 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>ARES ACQUISITION CORPORATION II</B></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Allyson Satin</P></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Allyson Satin</TD></TR>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Operating Officer</TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;4.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit B </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of
Warrant Certificate </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FACE] </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Warrant </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIS WARRANT
SHALL BE VOID IF NOT EXERCISED PRIOR TO THE EXPIRATION OF THE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXERCISE PERIOD SET FORTH BELOW </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARES ACQUISITION CORPORATION II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Incorporated Under the Laws of the Cayman Islands </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Warrant Certificate </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement (as may be amended, supplemented or
otherwise modified from time to time, the &#8220;<B><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement</B>&#8221;) dated September [&#149;], 2025 by and between Ares Acquisition Corporation II, a Cayman Islands exempted company (the
&#8220;<B>Company</B>&#8221;) and [&#149;] (the &#8220;<B>Investor</B>&#8221;) and (ii)&nbsp;the Business Combination Agreement, dated April&nbsp;14, 2025 (as may be amended, supplemented or otherwise modified from time to time, the
&#8220;<B>Business Combination Agreement</B>&#8221;), by and among the Company, Kodiak Robotics, Inc., a Delaware corporation, and the other parties to the Business Combination Agreement. As more fully described in the Business Combination
Agreement, prior to the closing of the transactions contemplated by the Business Combination Agreement, the Company will transfer by way of continuation to and domesticate as a Delaware corporation in accordance with Section&nbsp;388 of the General
Corporation Law of the State of Delaware and Part XII of the Cayman Companies Act (the &#8220;<B>Domestication</B>&#8221;). Following the Domestication, subject to shareholder approval, the Company will be a corporation incorporated under the laws
of the State of Delaware and will be renamed &#8220;Kodiak AI, Inc.&#8221; Notwithstanding anything to the contrary set forth in the Warrant Agreement (as defined below), for purposes of this Warrant Certificate and the Warrants (as defined below)
evidenced by this Warrant Certificate, references to &#8220;<B>Ordinary Shares</B>&#8221; in this Warrant Certificate and the Warrant Agreement shall be deemed to be references to shares of common stock of Kodiak AI, Inc., par value $0.0001 per
share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate certifies that the Investor or its registered assigns, is the registered holder of warrants evidenced by
this Warrant Certificate (the &#8220;<B>Warrants</B>&#8221; and each, a &#8220;<B>Warrant</B>&#8221;) to purchase Ordinary Shares. Each Warrant entitles the holder, upon exercise during the Exercise Period (as defined below), to receive from the
Company that number of fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> Ordinary Shares as set forth below, at the exercise price (the &#8220;<B>Warrant Price</B>&#8221;) as determined pursuant to this Warrant Certificate and
the Warrant Agreement, payable in US dollars, by bank wire or certified check (or through &#8220;cashless exercise&#8221; as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth in this Warrant Certificate and in the Warrant Agreement. Capitalized terms used but not defined in this Warrant
Certificate have the meanings given to them in the Warrant Agreement. In the event of a conflict between this Warrant Certificate and the Warrant Agreement, the provisions of this Warrant Certificate shall prevail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each whole Warrant is initially exercisable for one fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> Ordinary Share. No
fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share, the Company will, upon exercise, round down to the nearest whole
number the number of Ordinary Shares to be issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in the Warrant Agreement, for purposes of this Warrant Certificate and the Warrants
evidenced by this Warrant Certificate, the initial Warrant Price per Ordinary Share for any Warrant shall equal $12.00 per share. The Warrant Price is subject to adjustment upon the occurrence of certain events set forth below and as set forth in
the Warrant Agreement. Notwithstanding the foregoing, for the avoidance of doubt, the provisions of Section&nbsp;4.3.2 of the Warrant Agreement shall not apply to the Warrants evidenced by this Warrant Certificate. In addition, if on the 46th
trading day following the date that is six months after the Closing Date, the VWAP (the &#8220;<B>Measurement Price</B>&#8221;) is less than the Warrant Price then in effect, then the Warrant Price </P>
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then in effect shall be reduced to an amount equal to the greater of (i)&nbsp;the Measurement Price and (ii) $8.00. In addition, if on the 46th trading day following the date that is nine months
after the Closing Date, the VWAP (the &#8220;<B>Second Measurement Price</B>&#8221;) is less than the Warrant Price then in effect, then the Warrant Price then in effect shall be reduced to an amount equal to the greater of (i)&nbsp;the Second
Measurement Price and (ii) $6.00. In addition, notwithstanding anything to the contrary set forth in this Warrant Certificate or the Warrant Agreement, the adjustments set forth in Section&nbsp;7(c) of the Certificate of Designation
(&#8220;Adjustment of Conversion Price upon Issuance of Common Stock&#8221;) shall apply to the Warrant Price <I>mutatis mutandis</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in the Warrant Agreement, for purposes of this Warrant Certificate and the Warrants
evidenced by this Warrant Certificate, the term &#8220;<B>Exercise Period</B>&#8221; shall mean the period commencing on the date of this Warrant Certificate and terminating at the earliest to occur of: (x) 5:00 p.m., New York City time on the date
that is six years after the date on which the Company completes the Business Combination, and (y)&nbsp;the liquidation of the Company. To the extent not exercised by the end of the Exercise Period, the Warrants shall become void. In addition,
notwithstanding anything to the contrary set forth in this Warrant Certificate or the Warrant Agreement, the provisions of Sections 6.1, 6.2, and 6.3 of the Warrant Agreement shall not apply to the Warrants evidenced by this Warrant Certificate.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the further provisions of this Warrant Certificate set forth on Annex A to this Warrant Certificate and such further
provisions shall for all purposes have the same effect as though fully set forth at this place. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate shall not be
valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate shall be
governed by and construed in accordance with the internal laws of the State of New York. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">ARES ACQUISITION CORPORATION II</TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
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<TD VALIGN="top" COLSPAN="3">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST COMPANY, as Warrant Agent</TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Annex A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive
Ordinary Shares and are issued pursuant to (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement and (ii)&nbsp;the Warrant Agreement dated as of April&nbsp;20, 2023 (the &#8220;<B>Warrant Agreement</B>&#8221;), by and between
the Company and Continental Stock Transfer&nbsp;&amp; Trust Company, a New York corporation, as warrant agent (the &#8220;<B>Warrant Agent</B>&#8221;), which Warrant Agreement is incorporated by reference in and made a part of this instrument. The
Warrant Agreement contains a description of the rights, limitation of rights, obligations, duties and immunities of the Warrant Agent, the Company and the holders (the words &#8220;<B>holders</B>&#8221; or &#8220;<B>holder</B>&#8221; meaning the
Registered Holders or Registered Holder, respectively) of the Warrants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Warrants may be exercised at any time during the Exercise Period
set forth in this Warrant Certificate. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth on Annex B to this Warrant Certificate
properly completed and executed, together with payment of the Warrant Price as specified in this Warrant Certificate (or through &#8220;cashless exercise&#8221; as provided for in the Warrant Agreement) at the principal corporate trust office of the
Warrant Agent. In the event that upon any exercise of Warrants evidenced by this Warrant Certificate the number of Warrants exercised shall be less than the total number of Warrants evidenced by this Warrant Certificate, there shall be issued to the
holder of this Warrant Certificate or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Warrant Certificate or the Warrant Agreement to the contrary, the Registered Holder shall not be entitled to
the registration rights set forth in Section&nbsp;7.4.1 of the Warrant Agreement with respect to the issuance of the Ordinary Shares issuable upon exercise of the Warrants and shall instead be entitled to the registration rights set forth in
Section&nbsp;7 of the form of Subscription Agreement filed as Exhibit 10.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company with the Securities and Exchange Commission on September&nbsp;15, 2025,
<I>mutatis mutandis</I>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of the Warrants evidenced by this Warrant Certificate, the obligations and limitations set forth in
Section&nbsp;3.3.2 of the Warrant Agreement shall not apply. Instead, for purposes of the Warrants evidenced by this Warrant Certificate, as soon as practicable after the exercise of any such Warrant and the clearance of the funds in payment of the
Warrant Price (as applicable), the Company shall issue to the Registered Holder a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be
directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of Ordinary Shares as to which such Warrant shall not have been exercised. If
fewer than all the Warrants evidenced this Warrant Certificate are exercised, a notation shall be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the
balance of this Warrants remaining after such exercise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Furthermore, notwithstanding anything in this Warrant Certificate or the Warrant
Agreement to the contrary, in connection with any exercise of the Warrants evidenced by this Warrant Certificate, the Company will be entitled to choose whether such exercise is made for cash or on a &#8220;cashless basis&#8221;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If, upon exercise of a Warrant, the holder of such Warrant would be entitled to receive a fractional interest in an Ordinary Share, the
Company shall, upon exercise, round down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder of such Warrant
Certificate in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant
Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon due presentation for registration of transfer of this Warrant Certificate at the office
of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company and the Warrant Agent may deem and treat the Registered Holder(s) of this Warrant Certificate as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing on this Warrant Certificate made
by anyone), for the purpose of any exercise of this Warrant Certificate, of any distribution to the holder(s) of this Warrant Certificate, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder of this Warrant Certificate to any rights of a shareholder of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the terms defined elsewhere in this Warrant Certificate, the following terms have the meanings set forth below: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>Certificate of Designation</B>&#8221; means the Certificate of Designation of Preferences, Rights and
Limitations of 9.99% Series A Cumulative Convertible Preferred Stock in the form filed as Exhibit 3.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company with the Securities and Exchange Commission on
September&nbsp;15, 2025. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>Closing Date</B>&#8221; has the meaning given to it in the Certificate of Designation.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>VWAP</B>&#8221; has the meaning given to it in the Certificate of Designation. </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Annex B </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Election to Purchase </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(To Be Executed Upon Exercise of Warrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive Ordinary Shares and tenders
payment for such Ordinary Shares to the order of Ares Acquisition Corporation II (the &#8220;<B>Company</B>&#8221;) in the amount of $&#8195;&#8195;&#8195;&#8195;in accordance with the terms of this Election to Purchase. The undersigned requests
that a certificate for such Ordinary Shares be registered in the name of &#8195;&#8195;&#8195;&#8195; whose address is &#8195;&#8195;&#8195;&#8195; and that such Ordinary Shares be delivered to &#8195;&#8195;&#8195;&#8195; whose address is
&#8195;&#8195;&#8195;&#8195; . If said number of shares is less than all of the Ordinary Shares purchasable pursuant to the Warrant Certificate, the undersigned requests that a new Warrant Certificate representing the remaining balance of such
Ordinary Shares be registered in the name of &#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195; and that such Warrant Certificate be delivered to&#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195; .
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i)&nbsp;the number of
Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant Section of the Warrant Agreement which allows for such cashless exercise and (ii)&nbsp;the holder of this Warrant Certificate shall complete the
following: The undersigned irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said number of shares is less than all of
the Ordinary Shares purchasable pursuant to this Warrant Certificate (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in
the name of &#8195;&#8195;&#8195;&#8195;, whose address is and that such Warrant Certificate be delivered to &#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page Follows</I>] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: <U>&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U></P>
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<TD VALIGN="top">(Address)<U>&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U></TD></TR>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO SEC RULE <FONT STYLE="white-space:nowrap">17Ad-15</FONT> UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FORM OF <FONT STYLE="white-space:nowrap">NON-REDEMPTION</FONT> AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This <FONT STYLE="white-space:nowrap">NON-REDEMPTION</FONT> AGREEMENT (this &#8220;<B>Agreement</B>&#8221;), dated as of September [&#149;],
2025, is made by and among Ares Acquisition Corporation II, a Cayman Islands exempted company (the &#8220;<B>Company</B>&#8221;), and the undersigned investor (the &#8220;<B>Investor</B>&#8221;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company is a special purpose acquisition company whose Class&nbsp;A ordinary shares (&#8220;<B>Ordinary Shares</B>&#8221;) are
traded on the New York Stock Exchange under the symbol &#8220;AACT&#8221;; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on April&nbsp;14, 2025, the Company entered into a
business combination agreement (the &#8220;<B>Business Combination Agreement</B>&#8221;) by and among the Company, AAC II Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the Company and Kodiak Robotics Inc., a Delaware
corporation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Investor are entering into this Agreement in anticipation of the closing of the business
combination contemplated by the Business Combination Agreement (the &#8220;<B>Business Combination</B>&#8221;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection
with and prior to the closing of the Business Combination, subject to the approval of the Company&#8217;s shareholders, the Company will transfer by way of continuation to and domesticate as a Delaware corporation in accordance with Section&nbsp;388
of the General Corporation Law of the State of Delaware and Part XII of the Cayman Companies Act (the &#8220;<B>Domestication</B>&#8221;) and in connection with such Domestication, (i)&nbsp;the Company will change its name to Kodiak AI, Inc.
(&#8220;<B>Kodiak</B>&#8221;) and (ii)&nbsp;the Ordinary Shares will automatically convert into shares of common stock of Kodiak, par value $0.0001 per shares (the &#8220;<B>Common Stock</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company may enter into one or more <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements for <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (as defined below) with substantially similar terms with other investors (such <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements, &#8220;<B>Other <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements</B>&#8221;, and such other investors, &#8220;<B>Other Investors</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company&#8217;s amended and restated memorandum and articles of association (the &#8220;<B>Articles</B>&#8221;) provides that a
shareholder of the Company may redeem its Ordinary Shares, in connection with the consummation of the Business Combination, on the terms set forth in the Articles (&#8220;<B>Redemption Rights</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the deadline to for shareholders of the Company to exercise their Redemption Rights was 5:00 p.m., Eastern Time on September&nbsp;19,
2025 (the &#8220;<B>Redemption Deadline</B>&#8221;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Investor desires to rescind its previously submitted exercise of
Redemption Rights with respect to [&#149;] Ordinary Shares (&#8220;<B><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares</B>&#8221;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, all capitalized terms used but not defined in this Agreement shall have the respective meanings specified in the Business Combination
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements set forth in this Agreement, the parties agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement</U>. Subject to the conditions set forth in this Agreement, the
Investor irrevocably and unconditionally agrees that it will (i)&nbsp;rescind any previous election for redemption that was submitted prior to the Redemption Deadline with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares
and (ii)&nbsp;to the extent necessary, purchase an amount of previously redeemed Ordinary Shares up to the amount of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (the &#8220;<B>Redeemed Shares</B>&#8221;). If the Investor purchases
the Redeemed Shares pursuant to clause (ii), the Investor will confirm to the Company that such prior redemption of the Redeemed Shares has been rescinded prior to 2:00 p.m., Eastern Time on September&nbsp;23, 2025. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants</U>. Immediately following consummation of the Business Combination and
the transactions contemplated by the Business Combination Agreement, the Company shall grant the Investor the number of warrants to purchase the number of shares of Common Stock as set forth on Exhibit A to this Agreement (the
&#8220;<B>Non-</B><B>Redemption Warrants</B>&#8221;). The <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants shall be governed by the terms of the Warrant Certificate the form of which is included as <U>Exhibit B</U> to this Agreement.
Such <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants shall be issued to the investor in book-entry form through the Company&#8217;s transfer agent. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Restrictions</U>. From the date of this Agreement until the six months anniversary of
the consummation of the Business Combination, the Investor agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding with it, will (a)&nbsp;engage in any pledge transactions or &#8220;Short Sales&#8221;
(as defined in Rule 200 of Regulation SHO under the Exchange Act) with respect to any <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares, or (b)&nbsp;allow the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares held by the
Investor to be lent out or rehypothecated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Representations and Warranties</U>. Each of the parties represents and warrants to the
other party that: (a)&nbsp;it is a validly existing company, partnership or corporation, in good standing under the laws of the jurisdiction of its formation or incorporation; (b)&nbsp;this Agreement constitutes a valid and legally binding
obligation on it in accordance with its terms, subject to laws relating to bankruptcy, insolvency and relief of debtors, and laws governing specific performance, injunctive relief and other equitable remedies; (c)&nbsp;the execution, delivery and
performance of this Agreement by it has been duly authorized by all necessary corporate action, and (d)&nbsp;the execution, delivery and performance of this Agreement will not result in a violation of its governing documents, as applicable, or
conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement or instrument to
which it is a party or by which it is bound. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Investor Representation and Warranties</U>. The Investor represents and warrants to
the Company, that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) As of the date of this Agreement, the Investor beneficially owns the number of shares of Ordinary Shares set forth
opposite the Investor&#8217;s name on <U>Exhibit A</U> to this Agreement. The Investor will update <U>Exhibit A</U> as of 2:00 p.m., Eastern Time on September&nbsp;23, 2025. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Investor is an accredited investor as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933, as amended
(the &#8220;<B>Securities Act</B>&#8221;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Investor has been advised that the
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (and any shares of Common Stock issuable upon any exercise of the warrants) have not been and will not at the time they are issued be registered under the Securities Act or any state
securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is available. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Investor has not relied upon any information or representations made by any third parties or upon any oral or written representations
or assurances, express or implied, from the Company or any representatives or agents of the Company, other than as set forth in this Agreement and has such knowledge and experience in financial and business matters such that the Investor is capable
of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor&#8217;s financial condition and is able to bear the economic risk of such investment for an indefinite period
of time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Investor is acquiring the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (and any shares of Common
Stock issuable upon any exercise of the warrants) for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and such Investor has no present intention of
selling, granting any participation in, or otherwise distributing the same. Notwithstanding the foregoing, such Investor does not agree to hold any of the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (or any shares of Common Stock
issuable upon any exercise of the warrants) for any minimum or other specific term and reserves the right to dispose of the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants (or any shares of Common Stock issuable upon any exercise of
the warrants) at any time in accordance with or pursuant to a registration statement under the Securities Act or an exemption from such registration requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Investor is not acquiring the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants as a result of or subsequent to any
general solicitation or general advertising, including but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio or any seminar or
meeting whose attendees have been invited by any general solicitation or general advertising. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Additional Covenants</U>. The Investor covenants and agrees that, except for this
Agreement or any proxy or voting instruction granted in favor of approving the transactions contemplated by the Business Combination Agreement, the Investor shall not, at any time while this Agreement remains in effect, (i)&nbsp;enter into any
voting agreement or voting trust with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (or any securities received in exchange for the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares) inconsistent with
Investor&#8217;s obligations pursuant to this Agreement, (ii)&nbsp;grant a proxy, a consent or power of attorney with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (or any securities received in exchange for the <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Shares), (iii) enter into any agreement or take any action that would make any representation or warranty of Investor contained in this Agreement untrue or inaccurate in any material respect or have
the effect of preventing or disabling Investor from performing any of its obligations under this Agreement, or (iv)&nbsp;purchase the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares at a price higher than the price offered through the
Company&#8217;s redemption process. The Investor agrees to vote all of its <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares and any other Ordinary Shares owned by the Investor (other than Redeemed Shares purchased by the Investor
pursuant to Section&nbsp;1(ii) of this Agreement) in favor of approving the transactions contemplated by the Business Combination Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Expenses</U>. Each party shall be responsible for its own fees and expenses related to this Agreement and the transactions contemplated
by this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Termination</U>. This Agreement and all of its provisions shall terminate and be of no further force or effect
upon the earliest to occur of (a)&nbsp;the termination of the Business Combination Agreement in accordance with its terms, (b)&nbsp;the mutual written consent of the parties, and (c)&nbsp;the grant of the
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants to the Investor following the consummation of the Business Combination. Upon such termination of this Agreement, all obligations of the parties under this Agreement will terminate,
without any liability or other obligation on the part of any party to this Agreement to any person in respect of this Agreement or the transactions contemplated by this Agreement. Notwithstanding the foregoing or anything to the contrary in this
Agreement, the termination of this Agreement pursuant to clauses (a)&nbsp;and (c) above shall not affect any liability on the part of any party for an intentional breach of this Agreement. Section&nbsp;7 through and including Section&nbsp;29 of this
Agreement will survive the termination of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Trust Account Waiver</U>. The Investor acknowledges that the Company is a
blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. As described in the Company&#8217;s prospectus
relating to its initial public offering dated April&nbsp;24, 2023 (the &#8220;<B>Prospectus</B>&#8221;) available at www.sec.gov, the Investor further acknowledges that: (i)&nbsp;substantially all of the Company&#8217;s assets consist of the cash
proceeds of the Company&#8217;s initial public offering and private placement of its securities; and (ii)&nbsp;substantially all of those proceeds have been deposited in a trust account (the &#8220;<B>Trust Account</B>&#8221;) for the benefit of the
Company, its public shareholders and the underwriters of the Company&#8217;s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to the Company to pay its tax obligations and to
fund certain of its working capital requirements, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. In consideration of the Company entering into this Agreement, the receipt and sufficiency of which is
acknowledged, the Investor irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account. Investor may not seek recourse against the Trust Account
as a result of, or arising out of, this Agreement. Notwithstanding the foregoing, nothing in this Section&nbsp;9 shall be deemed to limit or prohibit: (i)&nbsp;the Investor&#8217;s right to pursue a claim against the Company for legal relief against
assets held outside the Trust Account, for specific performance or other equitable relief; (ii)&nbsp;any claims that the Investor may have following the consummation of the transactions contemplated by this Agreement against the Company&#8217;s
assets or funds that are not held in the Trust Account; or (iii)&nbsp;the Investor&#8217;s right, title, interest or claim to any monies held in the Trust Account by virtue of its record or beneficial ownership of Ordinary Shares outstanding on the
date of this Subscription Agreement or acquired after the date of this Subscription Agreement (other than the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares), pursuant to a validly exercised redemption right with respect to any such
Ordinary Shares (other than the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares), except to the extent that the Investor has otherwise agreed in writing with the Company to not exercise such redemption right with respect to such
Ordinary Shares. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Public Disclosure</U>. The Company shall file a Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> with the Securities and Exchange Commission (the &#8220;<B>Current Report</B>&#8221;) reporting the material terms of this Agreement but not including the names of the Investor and its affiliates and/or advised
funds, unless required by law, no later than one (1)&nbsp;Business Days after the execution of this Agreement. The Company shall not, and shall cause its representatives to not, disclose any material
<FONT STYLE="white-space:nowrap">non-public</FONT> information to the Investor concerning the Company, the Ordinary Shares or the Business Combination, other than the existence of this Agreement, such that the Investor shall not be in possession of
any such material <FONT STYLE="white-space:nowrap">non-public</FONT> information from and after the filing of the Current Report. Company agrees that the name of the Investor shall not be included in any public disclosures related to this Agreement
unless required by applicable law, regulation or stock exchange rule. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Governing Law; Jurisdiction</U>. This Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware as to all matters (including any action, suit, litigation, arbitration, mediation, claim, charge, complaint, inquiry, proceeding, hearing, audit, investigation or reviews
by or before any governmental entity related), including matters of validity, construction, effect, performance and remedies. Each party under this Agreement, and any person asserting rights as a third party beneficiary&nbsp;may do so only if he,
she or it, irrevocably agrees that any action, suit or proceeding between or among the parties, whether arising in contract, tort or otherwise, arising in connection with any disagreement, dispute, controversy or claim arising out of or relating to
this Agreement or any related document or any of the transactions contemplated under this Agreement or any related document (&#8220;<B>Legal Dispute</B>&#8221;) shall be brought exclusively in the Court of Chancery of the State of Delaware and any
state appellate court therefrom within the State of Delaware (or, but only if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular matter, any federal court within the State of Delaware or, in the event
each federal court within the State of Delaware declines to accept jurisdiction over a particular matter, any state court within the State of Delaware) (collectively the &#8220;<B>Chosen Courts</B>&#8221;) Each party under this Agreement consents to
the jurisdiction of the Chosen Courts in any such suit, action or proceeding. To the fullest extent permitted by law, each party irrevocably waives, any objection that it may now or hereafter have to the laying of the venue of any such suit, action
or proceeding in the Chosen Courts or that any such suit, action or proceeding that is brought in the Chosen Courts has been brought in an inconvenient forum. During the period a Legal Dispute that is filed in accordance with
this<U>&nbsp;Section</U><U></U><U>&nbsp;11</U>&nbsp;is pending before the Chosen Courts, all actions, suits or proceedings with respect to such Legal Dispute or any other Legal Dispute, including any counterclaim, cross-claim or interpleader, shall
be subject to the exclusive jurisdiction of the Chosen Courts. Each party and any person asserting rights as a third party beneficiary may do so only if he, she or it waives, and shall not assert as a defense in any Legal Dispute, that:
(a)&nbsp;such party is not personally subject to the jurisdiction of the Chosen Courts for any reason; (b)&nbsp;such action, suit or proceeding may not be brought or is not maintainable in the Chosen Courts; (c)&nbsp;such party&#8217;s property is
exempt or immune from execution; (d)&nbsp;such action, suit or proceeding is brought in an inconvenient forum; or (e)&nbsp;the venue of such action, suit or proceeding is improper. A final judgment in any action, suit or proceeding described in
this<U>&nbsp;Section</U><U></U><U>&nbsp;11</U>&nbsp;following the expiration of any period permitted for appeal and subject to any stay during appeal shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by applicable laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Waiver of Jury Trial</U>. EACH OF THE PARTIES AND ANY PERSON ASSERTING RIGHTS AS A THIRD
PARTY BENEFICIARY MAY DO SO ONLY IF HE, SHE OR IT IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED UNDER THIS
AGREEMENT AND FOR ANY COUNTERCLAIM RELATING THERETO. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL ASSERT IN SUCH
LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED UNDER THIS AGREEMENT. FURTHERMORE, NO PARTY NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL SEEK TO
CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Freely
Tradable</U>. The Company confirms that (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares will be freely tradeable without restrictive legends following the Business Combination; (ii)&nbsp;the
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares will not require <FONT STYLE="white-space:nowrap">re-registration</FONT> pursuant to a registration statement filed with the SEC on Form <FONT STYLE="white-space:nowrap">S-1</FONT> or
Form <FONT STYLE="white-space:nowrap">S-3</FONT> or equivalent following the Business Combination; and (iii)&nbsp;the Investor shall not be identified as a statutory underwriter in any registration statement filed with the SEC on Form <FONT
STYLE="white-space:nowrap">S-1</FONT> or Form <FONT STYLE="white-space:nowrap">S-3</FONT> or equivalent. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Form <FONT STYLE="white-space:nowrap">W-9</FONT> or
<FONT STYLE="white-space:nowrap">W-8</FONT></U>. The Investor shall, upon or prior to the consummation of the Business Combination, execute and deliver to the Company a completed IRS Form <FONT STYLE="white-space:nowrap">W-9</FONT> or Form <FONT
STYLE="white-space:nowrap">W-8,</FONT> as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Withholding</U>. Notwithstanding any other provision of this Agreement, the
Company and any of its agents and representatives, as applicable, shall be entitled to deduct and withhold from any amount payable hereunder any such taxes as may be required to be deducted and withheld from such amounts (and any other amounts
treated as paid for applicable tax law) under the Internal Revenue Code of 1986, as amended, or any other applicable tax law (as determined in good faith by the party so deducting or withholding in its sole discretion). To the extent that any
amounts are so deducted and withheld, such deducted and withheld amounts shall be treated for all purposes of this Agreement as having been paid to the person in respect of which such deduction and withholding was made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U><FONT STYLE="white-space:nowrap">Non-Reliance</FONT></U>. The Investor has had the opportunity to consult its own advisors, including
financial and tax advisors, regarding this Agreement or the arrangements contemplated under this Agreement and the Investor acknowledges that neither the Company nor any representative, agent or affiliate of the Company has provided or will provide
the Investor with any financial, tax or other advice relating to this Agreement or the arrangements contemplated hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>No
Third Party Beneficiaries</U>. This Agreement shall be for the sole benefit of the parties and Kodiak Robotics, Inc. (&#8220;<B>Kodiak</B>&#8221;) and their respective successors and permitted assigns. Kodiak is entitled to enforce the rights and
privileges of the Company under this Agreement. Except as expressly named in this Section&nbsp;18, this Agreement is not intended, nor shall be construed, to give any person, other than the parties and their respective successors and assigns, any
legal or equitable right, benefit or remedy of any nature whatsoever by reason this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>Assignment</U>. This Agreement and
all of the provisions of this Agreement will be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations
under this Agreement will be assigned (including by operation of law) without the prior written consent of the <FONT STYLE="white-space:nowrap">non-assigning</FONT> party to this Agreement (not to be unreasonably withheld, conditioned or delayed).
Notwithstanding the foregoing, the Investor may transfer its rights, interests and obligations under this Agreement to one or more investment funds or accounts managed or advised by the Investor (or a related party or affiliate) and to the extent
such transferee is not a party to this Agreement, such transferee shall agree to be bound by the terms of this Agreement prior to any such transfer being effectuated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>Registration Rights</U>. In connection with the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants, the Investor shall be
entitled to the registration rights set forth in the Warrant Certificate the form of which is included as <U>Exhibit B</U> to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U><FONT STYLE="white-space:nowrap">Lock-Up</FONT></U>. For the avoidance of doubt, such
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants shall not be subject to any <FONT STYLE="white-space:nowrap">lock-up</FONT> provision or agreement with the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>Specific Performance</U>. The parties agree that irreparable damage may occur in the event that any of the provisions of this Agreement
are not performed in accordance with their specific terms or are otherwise breached. It is accordingly agreed that monetary damages may not be an adequate remedy for such breach and the <FONT STYLE="white-space:nowrap">non-breaching</FONT> party
shall be entitled to seek injunctive relief, in addition to any other remedy that such party may have in law or in equity, and to enforce specifically the terms and provisions of this Agreement in the chancery court or any other state or federal
court within the State of Delaware. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. <U>Amendment</U>. This Agreement may not be amended, changed, supplemented, waived or otherwise
modified, except upon the execution and delivery of a written agreement executed by the parties to this Agreement. No such amendment, change, supplement, waiver or other modification by the Company of the provisions of this Agreement shall be
effective without the prior written consent of Kodiak (other than modifications or waivers that are solely ministerial in nature or otherwise immaterial and do not affect any economic or any other material term of this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">24. <U>Severability</U>. If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other
provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">25. <U>No Partnership, Agency or Joint Venture</U>. This Agreement is intended to create a
contractual relationship between the Investor, on the one hand, and the Company, on the other hand, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship between the parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">26. <U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">27.
<U>Notices</U>. All notices, consents, waivers and other communications under this Agreement must be in writing and will be deemed to have been duly given (a)&nbsp;if personally delivered, on the date of delivery; (b)&nbsp;if delivered by express
courier service of national standing for next day delivery (with charges prepaid), on the Business Day following the date of delivery to such courier service; (c)&nbsp;if delivered by electronic mail, on the date of transmission if on a Business Day
before 5:00 p.m. local time of the business address of the recipient party (otherwise on the next succeeding Business Day), provided the sender receives no bounce-back or similar message indicating
<FONT STYLE="white-space:nowrap">non-delivery;</FONT> in each case to the appropriate addresses set forth below (or to such other addresses as a party may designate by notice to the other parties in accordance with this Section&nbsp;27): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the Company prior to consummation of the Business Combination</U>: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Ares Acquisition Corporation II </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">245 Park Avenue, 44th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">New
York, New York 10167 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Allyson Satin; Anton Feingold; Eric Waxman </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Ares Management
Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1800 Avenue of the Stars </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Suite 1400 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Los Angeles, CA 90067
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Allyson Satin; Anton Feingold </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: [***] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not
constitute notice) to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kirkland&nbsp;&amp; Ellis LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">2049 Century Park East, Suite 3700 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Los Angeles, California 90067 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Philippa Bond, P.C.; Van Whiting </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: [***] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not constitute notice) to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kodiak Robotics, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1045
Terra Bella Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Mountain View, CA 94043 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Chief Legal Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email:
[***] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not constitute notice) to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Wilson Sonsini Goodrich&nbsp;&amp; Rosati Professional Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">650 Page Mill Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Palo Alto, CA
94304-1050 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Melissa Rick; Austin March </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:&nbsp;[***]</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8201;&#8194;[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the Company after
consummation of the Business Combination</U>: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kodiak AI, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1045 Terra Bella Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Mountain
View, CA 94043 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Chief Legal Officer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: [***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Wilson Sonsini Goodrich&nbsp;&amp; Rosati Professional Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">650 Page Mill Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Palo Alto, CA
94304-1050 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Melissa Rick; Austin March </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:</FONT> [***] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;&#8201;[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the Investor</U>:
To the address set forth on <U>Exhibit A</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">28. <U>Counterparts</U>. This Agreement may be executed in two or more counterparts (any of
which may be delivered by electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument, and shall include images of manually executed signatures transmitted by
electronic format (including, without limitation, &#8220;pdf&#8221;, &#8220;tif&#8221; or &#8220;jpg&#8221;) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic signatures and electronic
records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or
use of a paper-based record-keeping system to the fullest extent permitted by applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">29. <U>Entire Agreement</U>. This Agreement
and the agreements referenced in this Agreement constitute the entire agreement and understanding of the parties in respect of the subject matter hereof and supersede all prior understandings, agreements or representations by or among the parties to
the extent that they relate in any way to the subject matter hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">30. <U>Most Favored Nation</U>. In the event the Company enters one
or more Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements with any Other Investors before or after the execution of this Agreement with respect to a number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares equal
to or less than the number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares committed by the Investor, the Company represents that the terms of such Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements are not
materially more favorable to such Other Investors thereunder than the terms of this Agreement are in respect of the Investor. In the event that any Other Investor who has entered into any Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT>
Agreement with respect to a number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares equal to or less than the number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares committed by the Investor is afforded any such more
favorable terms pursuant to such Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements than the Investor, the Company shall promptly inform the Investor of such more favorable terms in writing, and the Investor shall have the right
to elect to have such more favorable terms included in this Agreement, in which case the parties to this Agreement shall promptly amend this Agreement to effect the same. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature page follows] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Agreement has been duly executed by the parties as of the date
first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>Ares Acquisition Corporation II</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>Investor</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Investor</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">Non-Redemption</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Warrants to be</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>issued to
the</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Investor</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number of Ordinary</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Shares to be Held as <FONT STYLE="white-space:nowrap">Non-Redemption</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Shares</B></P></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">[ ] <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Warrants</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">[ ] Class&nbsp;A Ordinary Shares</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Address:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SSN/EIN:</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">If at any time Investor would beneficially own in excess of 9.9% of the Common Stock, Investor elects to be
subject to the &#8220;Maximum Percentage&#8221; set forth in Section&nbsp;3.3.5 of the Warrant Agreement (as defined in the Warrant Certificate). </P></TD></TR></TABLE>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Form of Warrant Certificate </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FACE] </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Warrant </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THIS WARRANT SHALL BE VOID IF NOT EXERCISED PRIOR TO THE EXPIRATION OF THE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXERCISE PERIOD SET FORTH BELOW </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARES ACQUISITION CORPORATION II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Incorporated Under the Laws of the Cayman Islands </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Warrant Certificate </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement (as may be amended, supplemented or
otherwise modified from time to time, the &#8220;<B><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement</B>&#8221;) dated September [&#149;], 2025 by and between Ares Acquisition Corporation II, a Cayman Islands exempted company (the
&#8220;<B>Company</B>&#8221;) and [&#149;] (the &#8220;<B>Investor</B>&#8221;) and (ii)&nbsp;the Business Combination Agreement, dated April&nbsp;14, 2025 (as may be amended, supplemented or otherwise modified from time to time, the
&#8220;<B>Business Combination Agreement</B>&#8221;), by and among the Company, Kodiak Robotics, Inc., a Delaware corporation, and the other parties to the Business Combination Agreement. As more fully described in the Business Combination
Agreement, prior to the closing of the transactions contemplated by the Business Combination Agreement, the Company will transfer by way of continuation to and domesticate as a Delaware corporation in accordance with Section&nbsp;388 of the General
Corporation Law of the State of Delaware and Part XII of the Cayman Companies Act (the &#8220;<B>Domestication</B>&#8221;). Following the Domestication, subject to shareholder approval, the Company will be a corporation incorporated under the laws
of the State of Delaware and will be renamed &#8220;Kodiak AI, Inc.&#8221; Notwithstanding anything to the contrary set forth in the Warrant Agreement (as defined below), for purposes of this Warrant Certificate and the Warrants (as defined below)
evidenced by this Warrant Certificate, references to &#8220;<B>Ordinary Shares</B>&#8221; in this Warrant Certificate and the Warrant Agreement shall be deemed to be references to shares of common stock of Kodiak AI, Inc., par value $0.0001 per
share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate certifies that the Investor or its registered assigns, is the registered holder of warrants evidenced by
this Warrant Certificate (the &#8220;<B>Warrants</B>&#8221; and each, a &#8220;<B>Warrant</B>&#8221;) to purchase Ordinary Shares. Each Warrant entitles the holder, upon exercise during the Exercise Period (as defined below), to receive from the
Company that number of fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> Ordinary Shares as set forth below, at the exercise price (the &#8220;<B>Warrant Price</B>&#8221;) as determined pursuant to this Warrant Certificate and
the Warrant Agreement, payable in US dollars, by bank wire or certified check (or through &#8220;cashless exercise&#8221; as provided for in the Warrant Agreement) of the United States of America upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth in this Warrant Certificate and in the Warrant Agreement. Capitalized terms used but not defined in this Warrant
Certificate have the meanings given to them in the Warrant Agreement. In the event of a conflict between this Warrant Certificate and the Warrant Agreement, the provisions of this Warrant Certificate shall prevail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each whole Warrant is initially exercisable for one fully paid and <FONT STYLE="white-space:nowrap">non-assessable</FONT> Ordinary Share. No
fractional shares will be issued upon exercise of any Warrant. If, upon the exercise of Warrants, a holder would be entitled to receive a fractional interest in an Ordinary Share, the Company will, upon exercise, round down to the nearest whole
number the number of Ordinary Shares to be issued to the Warrant holder. The number of Ordinary Shares issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in the Warrant Agreement, for purposes of this Warrant Certificate and the Warrants
evidenced by this Warrant Certificate, the initial Warrant Price per Ordinary Share for any Warrant shall equal $12.00 per share. The Warrant Price is subject to adjustment upon the occurrence of certain events set forth below and as set forth in
the Warrant Agreement. Notwithstanding the foregoing, for the avoidance of doubt, the provisions of Section&nbsp;4.3.2 of the Warrant Agreement shall not apply to the Warrants evidenced by this Warrant Certificate. In addition, if on the 46th
trading day following the date that is six months after the Closing Date, the VWAP (the &#8220;<B>Measurement Price</B>&#8221;) is less than the Warrant Price then in effect, then the Warrant Price </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
then in effect shall be reduced to an amount equal to the greater of (i)&nbsp;the Measurement Price and (ii) $8.00. In addition, if on the 46th trading day following the date that is nine months
after the Closing Date, the VWAP (the &#8220;<B>Second Measurement Price</B>&#8221;) is less than the Warrant Price then in effect, then the Warrant Price then in effect shall be reduced to an amount equal to the greater of (i)&nbsp;the Second
Measurement Price and (ii) $6.00. In addition, notwithstanding anything to the contrary set forth in this Warrant Certificate or the Warrant Agreement, the adjustments set forth in Section&nbsp;7(c) of the Certificate of Designation
(&#8220;Adjustment of Conversion Price upon Issuance of Common Stock&#8221;) shall apply to the Warrant Price <I>mutatis mutandis</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary set forth in the Warrant Agreement, for purposes of this Warrant Certificate and the Warrants
evidenced by this Warrant Certificate, the term &#8220;<B>Exercise Period</B>&#8221; shall mean the period commencing on the date of this Warrant Certificate and terminating at the earliest to occur of: (x) 5:00 p.m., New York City time on the date
that is six years after the date on which the Company completes the Business Combination, and (y)&nbsp;the liquidation of the Company. To the extent not exercised by the end of the Exercise Period, the Warrants shall become void. In addition,
notwithstanding anything to the contrary set forth in this Warrant Certificate or the Warrant Agreement, the provisions of Sections 6.1, 6.2, and 6.3 of the Warrant Agreement shall not apply to the Warrants evidenced by this Warrant Certificate.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is made to the further provisions of this Warrant Certificate set forth on Annex A to this Warrant Certificate and such further
provisions shall for all purposes have the same effect as though fully set forth at this place. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate shall not be
valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Warrant Certificate shall be
governed by and construed in accordance with the internal laws of the State of New York. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="12%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARES ACQUISITION CORPORATION II</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONTINENTAL STOCK TRANSFER&nbsp;&amp; TRUST COMPANY, as Warrant Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Annex A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive
Ordinary Shares and are issued pursuant to (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement and (ii)&nbsp;the Warrant Agreement dated as of April&nbsp;20, 2023 (the &#8220;<B>Warrant Agreement</B>&#8221;), by and between
the Company and Continental Stock Transfer&nbsp;&amp; Trust Company, a New York corporation, as warrant agent (the &#8220;<B>Warrant Agent</B>&#8221;), which Warrant Agreement is incorporated by reference in and made a part of this instrument. The
Warrant Agreement contains a description of the rights, limitation of rights, obligations, duties and immunities of the Warrant Agent, the Company and the holders (the words &#8220;<B>holders</B>&#8221; or &#8220;<B>holder</B>&#8221; meaning the
Registered Holders or Registered Holder, respectively) of the Warrants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Warrants may be exercised at any time during the Exercise Period
set forth in this Warrant Certificate. The holder of Warrants evidenced by this Warrant Certificate may exercise them by surrendering this Warrant Certificate, with the form of election to purchase set forth on Annex B to this Warrant Certificate
properly completed and executed, together with payment of the Warrant Price as specified in this Warrant Certificate (or through &#8220;cashless exercise&#8221; as provided for in the Warrant Agreement) at the principal corporate trust office of the
Warrant Agent. In the event that upon any exercise of Warrants evidenced by this Warrant Certificate the number of Warrants exercised shall be less than the total number of Warrants evidenced by this Warrant Certificate, there shall be issued to the
holder of this Warrant Certificate or his, her or its assignee, a new Warrant Certificate evidencing the number of Warrants not exercised. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Warrant Certificate or the Warrant Agreement to the contrary, the Registered Holder shall not be entitled to
the registration rights set forth in Section&nbsp;7.4.1 of the Warrant Agreement with respect to the issuance of the Ordinary Shares issuable upon exercise of the Warrants and shall instead be entitled to the registration rights set forth in
Section&nbsp;7 of the form of Subscription Agreement filed as Exhibit 10.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company with the Securities and Exchange Commission on September&nbsp;15, 2025,
<I>mutatis mutandis</I>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of the Warrants evidenced by this Warrant Certificate, the obligations and limitations set forth in
Section&nbsp;3.3.2 of the Warrant Agreement shall not apply. Instead, for purposes of the Warrants evidenced by this Warrant Certificate, as soon as practicable after the exercise of any such Warrant and the clearance of the funds in payment of the
Warrant Price (as applicable), the Company shall issue to the Registered Holder a book-entry position or certificate, as applicable, for the number of Ordinary Shares to which he, she or it is entitled, registered in such name or names as may be
directed by him, her or it, and if such Warrant shall not have been exercised in full, a new book-entry position or countersigned Warrant, as applicable, for the number of Ordinary Shares as to which such Warrant shall not have been exercised. If
fewer than all the Warrants evidenced this Warrant Certificate are exercised, a notation shall be made to the records maintained by the Depositary, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the
balance of this Warrants remaining after such exercise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Furthermore, notwithstanding anything in this Warrant Certificate or the Warrant
Agreement to the contrary, in connection with any exercise of the Warrants evidenced by this Warrant Certificate, the Company will be entitled to choose whether such exercise is made for cash or on a &#8220;cashless basis&#8221;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If, upon exercise of a Warrant, the holder of such Warrant would be entitled to receive a fractional interest in an Ordinary Share, the
Company shall, upon exercise, round down to the nearest whole number of Ordinary Shares to be issued to the holder of the Warrant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Registered Holder of such Warrant
Certificate in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant
Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants. </P>
</DIV></Center>


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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon due presentation for registration of transfer of this Warrant Certificate at the office
of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations
provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Company and the Warrant Agent may deem and treat the Registered Holder(s) of this Warrant Certificate as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing on this Warrant Certificate made
by anyone), for the purpose of any exercise of this Warrant Certificate, of any distribution to the holder(s) of this Warrant Certificate, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to
the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder of this Warrant Certificate to any rights of a shareholder of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the terms defined elsewhere in this Warrant Certificate, the following terms have the meanings set forth below: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>Certificate of Designation</B>&#8221; means the Certificate of Designation of Preferences, Rights and
Limitations of 9.99% Series A Cumulative Convertible Preferred Stock in the form filed as Exhibit 3.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company with the Securities and Exchange Commission on
September&nbsp;15, 2025. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>Closing Date</B>&#8221; has the meaning given to it in the Certificate of Designation.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="1%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">&#8220;<B>VWAP</B>&#8221; has the meaning given to it in the Certificate of Designation. </P></TD></TR></TABLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Annex B </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Election to Purchase </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(To Be Executed Upon Exercise of Warrant) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive Ordinary Shares and tenders
payment for such Ordinary Shares to the order of Ares Acquisition Corporation II (the &#8220;<B>Company</B>&#8221;) in the amount of $&#8195;&#8195;&#8195;&#8195;in accordance with the terms of this Election to Purchase. The undersigned requests
that a certificate for such Ordinary Shares be registered in the name of &#8195;&#8195;&#8195;&#8195; whose address is &#8195;&#8195;&#8195;&#8195; and that such Ordinary Shares be delivered to &#8195;&#8195;&#8195;&#8195; whose address is
&#8195;&#8195;&#8195;&#8195; . If said number of shares is less than all of the Ordinary Shares purchasable pursuant to the Warrant Certificate, the undersigned requests that a new Warrant Certificate representing the remaining balance of such
Ordinary Shares be registered in the name of &#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195; and that such Warrant Certificate be delivered to&#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195; .
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i)&nbsp;the number of
Ordinary Shares that this Warrant is exercisable for would be determined in accordance with the relevant Section of the Warrant Agreement which allows for such cashless exercise and (ii)&nbsp;the holder of this Warrant Certificate shall complete the
following: The undersigned irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive Ordinary Shares. If said number of shares is less than all of
the Ordinary Shares purchasable pursuant to this Warrant Certificate (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such Ordinary Shares be registered in
the name of &#8195;&#8195;&#8195;&#8195;, whose address is and that such Warrant Certificate be delivered to &#8195;&#8195;&#8195;&#8195;, whose address is &#8195;&#8195;&#8195;&#8195;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Page Follows</I>] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: <U>&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U></P>
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<TD VALIGN="top">(Signature)</TD></TR>
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<TD VALIGN="top">(Address)<U>&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;</U></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top">(Tax Identification Number)</TD></TR>
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<TD VALIGN="top">Signature Guaranteed:</TD></TR>
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</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS
AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO SEC RULE <FONT STYLE="white-space:nowrap">17Ad-15</FONT> UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FORM OF <FONT STYLE="white-space:nowrap">NON-REDEMPTION</FONT> AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This <FONT STYLE="white-space:nowrap">NON-REDEMPTION</FONT> AGREEMENT (this &#8220;<B>Agreement</B>&#8221;), dated as of September [&#149;],
2025, is made by and among Ares Acquisition Corporation II, a Cayman Islands exempted company (the &#8220;<B>Company</B>&#8221;), the undersigned investor (the &#8220;<B>Investor</B>&#8221;) and Kodiak Robotics Inc., a Delaware corporation
(&#8220;<B>Legacy Kodiak</B>&#8221;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company is a special purpose acquisition company whose Class&nbsp;A ordinary shares
(&#8220;<B>Ordinary Shares</B>&#8221;) are traded on the New York Stock Exchange under the symbol &#8220;AACT&#8221;; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, on
April&nbsp;14, 2025, the Company entered into a business combination agreement (the &#8220;<B>Business Combination Agreement</B>&#8221;) by and among the Company, AAC II Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of the
Company and Kodiak Robotics Inc., a Delaware corporation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company and the Investor are entering into this Agreement in
anticipation of the closing of the business combination contemplated by the Business Combination Agreement (the &#8220;<B>Business Combination</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, in connection with and prior to the closing of the Business Combination, subject to the approval of the Company&#8217;s shareholders,
the Company will transfer by way of continuation to and domesticate as a Delaware corporation in accordance with Section&nbsp;388 of the General Corporation Law of the State of Delaware and Part XII of the Cayman Companies Act (the
&#8220;<B>Domestication</B>&#8221;) and in connection with such Domestication, (i)&nbsp;the Company will change its name to Kodiak AI, Inc. (&#8220;<B>Kodiak</B>&#8221;) and (ii)&nbsp;the Ordinary Shares will automatically convert into shares of
common stock of Kodiak, par value $0.0001 per shares (the &#8220;<B>Common Stock</B>&#8221;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company may enter into one or
more <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements in exchange for Investor Shares (as defined below) with substantially similar terms with other investors (such <FONT STYLE="white-space:nowrap">non-redemption</FONT> agreements,
&#8220;<B>Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements</B>&#8221;, and such other investors, &#8220;<B>Other Investors</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Company&#8217;s amended and restated memorandum and articles of association (the &#8220;<B>Articles</B>&#8221;) provides that a
shareholder of the Company may redeem its Ordinary Shares, in connection with the consummation of the Business Combination, on the terms set forth in the Articles (&#8220;<B>Redemption Rights</B>&#8221;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the deadline to for shareholders of the Company to exercise their Redemption Rights was 5:00 p.m., Eastern Time on September&nbsp;19,
2025 (the &#8220;<B>Redemption Deadline</B>&#8221;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Investor desires to rescind its previously submitted exercise of
Redemption Rights with respect to [&#149;] Ordinary Shares (&#8220;<B><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares</B>&#8221;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, all capitalized terms used but not defined in this Agreement shall have the respective meanings specified in the Business Combination
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements set forth in this Agreement, the parties agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U><FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement</U>. Subject to the conditions set forth in this Agreement, the
Investor irrevocably and unconditionally agrees that it will (i)&nbsp;rescind any previous election for redemption that was submitted prior to the Redemption Deadline with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares
and (ii)&nbsp;to the extent necessary, purchase an amount of previously redeemed Ordinary Shares up to the amount of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (the &#8220;<B>Redeemed Shares</B>&#8221;). If the Investor purchases
the Redeemed Shares pursuant to clause (ii), the Investor will confirm to the Company that such prior redemption of the Redeemed Shares has been rescinded prior to 2:00 p.m., Eastern Time on September&nbsp;23, 2025. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Investor Shares</U>. Following the Domestication and prior to the consummation of the Business Combination and the transactions
contemplated by the Business Combination Agreement, Kodiak shall issue to the Investor the number of shares of Common Stock set forth on Exhibit A (the &#8220;<B>Investor Shares</B>&#8221;). </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Restrictions</U>. From the date of this Agreement until the six months anniversary of
the consummation of the Business Combination, the Investor agrees that neither it, nor any person or entity acting on its behalf or pursuant to any understanding with it, will (a)&nbsp;engage in any pledge transactions or &#8220;Short Sales&#8221;
(as defined in Rule 200 of Regulation SHO under the Exchange Act) with respect to any <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares, or (b)&nbsp;allow the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares held by the
Investor to be lent out or rehypothecated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Representations and Warranties</U>. Each of the parties represents and warrants to the
other party that: (a)&nbsp;it is a validly existing company, partnership or corporation, in good standing under the laws of the jurisdiction of its formation or incorporation; (b)&nbsp;this Agreement constitutes a valid and legally binding
obligation on it in accordance with its terms, subject to laws relating to bankruptcy, insolvency and relief of debtors, and laws governing specific performance, injunctive relief and other equitable remedies; (c)&nbsp;the execution, delivery and
performance of this Agreement by it has been duly authorized by all necessary corporate action, and (d)&nbsp;the execution, delivery and performance of this Agreement will not result in a violation of its governing documents, as applicable, or
conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement or instrument to
which it is a party or by which it is bound. The Company represents and warrants to the Investor that as of the closing date of the Business Combination (the &#8220;Closing Date&#8221;), the Investor Shares: (i)&nbsp;will be duly authorized and,
when issued and delivered to the Investor in accordance with the terms of this Agreement; (ii)&nbsp;will be validly issued, fully paid <FONT STYLE="white-space:nowrap">and&nbsp;non-assessable;&nbsp;and</FONT> (iii)&nbsp;will not have been issued in
violation of or subject to any preemptive or similar rights created under Kodiak&#8217;s certificate of incorporation (as adopted on the Closing Date) or under the General Corporation Law of the State of Delaware. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Investor Representation and Warranties</U>. The Investor represents and warrants to the Company, that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) As of the date of this Agreement, the Investor beneficially owns the number of shares of Ordinary Shares set forth opposite the
Investor&#8217;s name on <U>Exhibit A</U> to this Agreement. The Investor will update <U>Exhibit A</U> as of 2:00 p.m., Eastern Time on September&nbsp;23, 2025. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Investor is an accredited investor as such term is defined in Rule 501 of Regulation D under the Securities Act of 1933, as amended
(the &#8220;<B>Securities Act</B>&#8221;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Investor has been advised that the Investor Shares has not been and will not be
registered under the Securities Act or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is
available. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Investor has not relied upon any information or representations made by any third parties or upon any oral or written
representations or assurances, express or implied, from the Company or any representatives or agents of the Company, other than as set forth in this Agreement and has such knowledge and experience in financial and business matters such that the
Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor&#8217;s financial condition and is able to bear the economic risk of such investment for an
indefinite period of time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Investor is acquiring the Investor Shares for its own account for investment, not as a nominee or
agent, and not with a view to, or for resale in connection with, the distribution thereof, and such Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. Notwithstanding the foregoing, such
Investor does not agree to hold the Investor Shares for any minimum or other specific term and reserves the right to dispose of the Investor Shares at any time in accordance with or pursuant to a registration statement under the Securities Act or an
exemption from such registration requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Investor is not acquiring the Investor Shares as a result of or subsequent to any
general solicitation or general advertising, including but not limited to any advertisement, article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television or radio or any seminar or
meeting whose attendees have been invited by any general solicitation or general advertising. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Additional Covenants</U>. The Investor covenants and agrees that, except for this
Agreement or any proxy or voting instruction granted in favor of approving the transactions contemplated by the Business Combination Agreement, the Investor shall not, at any time while this Agreement remains in effect, (i)&nbsp;enter into any
voting agreement or voting trust with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (or any securities received in exchange for the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares) inconsistent with
Investor&#8217;s obligations pursuant to this Agreement, (ii)&nbsp;grant a proxy, a consent or power of attorney with respect to the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares (or any securities received in exchange for the <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Shares), (iii) enter into any agreement or take any action that would make any representation or warranty of Investor contained in this Agreement untrue or inaccurate in any material respect or have
the effect of preventing or disabling Investor from performing any of its obligations under this Agreement, or (iv)&nbsp;purchase the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares at a price higher than the price offered through the
Company&#8217;s redemption process. The Investor agrees to vote all of its <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares and any other Ordinary Shares owned by the Investor (other than Redeemed Shares purchased by the Investor
pursuant to Section&nbsp;1(ii) of this Agreement) in favor of approving the transactions contemplated by the Business Combination Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Expenses</U>. Each party shall be responsible for its own fees and expenses related to this Agreement and the transactions contemplated
by this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Termination</U>. This Agreement and all of its provisions shall terminate and be of no further force or effect
upon the earliest to occur of (a)&nbsp;the termination of the Business Combination Agreement in accordance with its terms, and (b)&nbsp;the mutual written consent of the parties,. Upon such termination of this Agreement, all obligations of the
parties under this Agreement will terminate, without any liability or other obligation on the part of any party to this Agreement to any person in respect of this Agreement or the transactions contemplated by this Agreement. Notwithstanding the
foregoing or anything to the contrary in this Agreement, the termination of this Agreement pursuant to clauses (a)&nbsp;and (c) above shall not affect any liability on the part of any party for an intentional breach of this Agreement. Section&nbsp;7
through and including Section&nbsp;29 of this Agreement will survive the termination of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <U>Trust Account Waiver</U>.
The Investor acknowledges that the Company is a blank check company with the powers and privileges to effect a merger, asset acquisition, reorganization or similar business combination involving the Company and one or more businesses or assets. As
described in the Company&#8217;s prospectus relating to its initial public offering dated April&nbsp;24, 2023 (the &#8220;<B>Prospectus</B>&#8221;) available at www.sec.gov, the Investor further acknowledges that: (i)&nbsp;substantially all of the
Company&#8217;s assets consist of the cash proceeds of the Company&#8217;s initial public offering and private placement of its securities; and (ii)&nbsp;substantially all of those proceeds have been deposited in a trust account (the &#8220;<B>Trust
Account</B>&#8221;) for the benefit of the Company, its public shareholders and the underwriters of the Company&#8217;s initial public offering. Except with respect to interest earned on the funds held in the Trust Account that may be released to
the Company to pay its tax obligations and to fund certain of its working capital requirements, the cash in the Trust Account may be disbursed only for the purposes set forth in the Prospectus. In consideration of the Company entering into this
Agreement, the receipt and sufficiency of which is acknowledged, the Investor irrevocably waives any and all right, title and interest, or any claim of any kind it has or may have in the future, in or to any monies held in the Trust Account.
Investor may not seek recourse against the Trust Account as a result of, or arising out of, this Agreement. Notwithstanding the foregoing, nothing in this Section&nbsp;9 shall be deemed to limit or prohibit: (i)&nbsp;the Investor&#8217;s right to
pursue a claim against the Company for legal relief against assets held outside the Trust Account, for specific performance or other equitable relief; (ii)&nbsp;any claims that the Investor may have following the consummation of the transactions
contemplated by this Agreement against the Company&#8217;s assets or funds that are not held in the Trust Account; or (iii)&nbsp;the Investor&#8217;s right, title, interest or claim to any monies held in the Trust Account by virtue of its record or
beneficial ownership of Ordinary Shares outstanding on the date of this Subscription Agreement or acquired after the date of this Subscription Agreement (other than the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares), pursuant to a
validly exercised redemption right with respect to any such Ordinary Shares (other than the Non-Redemption Shares), except to the extent that the Investor has otherwise agreed in writing with the Company to not exercise such redemption right with
respect to such Ordinary Shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <U>Public Disclosure</U>. The Company shall file a Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> (the &#8220;<B>Current Report</B>&#8221;) with the Securities and Exchange Commission (the &#8220;<B>SEC</B>&#8221;) reporting the material terms of this Agreement but not including the names of the Investor and
its affiliates and/or advised funds, unless required by law, no later than one (1)&nbsp;Business Days after the execution of this Agreement. The Company shall not, and shall cause its representatives to not, disclose any material <FONT
STYLE="white-space:nowrap">non-public</FONT> information to the Investor concerning the Company, the Ordinary Shares or the Business Combination, other than the existence of this Agreement, such that the Investor shall not be in possession of any
such material <FONT STYLE="white-space:nowrap">non-public</FONT> information from and after the filing of the Current Report. Company agrees that the name of the Investor shall not be included in any public disclosures related to this Agreement
unless required by applicable law, regulation or stock exchange rule. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <U>Governing Law; Jurisdiction</U>. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware as to all matters (including any action, suit, litigation, arbitration, mediation, claim, charge, complaint, inquiry, proceeding, hearing, audit, investigation or reviews by or before any
governmental entity related), including matters of validity, construction, effect, performance and remedies. Each party under this Agreement, and any person asserting rights as a third party beneficiary&nbsp;may do so only if he, she or it,
irrevocably agrees that any action, suit or proceeding between or among the parties, whether arising in contract, tort or otherwise, arising in connection with any disagreement, dispute, controversy or claim arising out of or relating to this
Agreement or any related document or any of the transactions contemplated under this Agreement or any related document (&#8220;<B>Legal Dispute</B>&#8221;) shall be brought exclusively in the Court of Chancery of the State of Delaware and any state
appellate court therefrom within the State of Delaware (or, but only if the Court of Chancery of the State of Delaware declines to accept jurisdiction over a particular matter, any federal court within the State of Delaware or, in the event each
federal court within the State of Delaware declines to accept jurisdiction over a particular matter, any state court within the State of Delaware) (collectively the &#8220;<B>Chosen Courts</B>&#8221;) Each party under this Agreement consents to the
jurisdiction of the Chosen Courts in any such suit, action or proceeding. To the fullest extent permitted by law, each party irrevocably waives, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or
proceeding in the Chosen Courts or that any such suit, action or proceeding that is brought in the Chosen Courts has been brought in an inconvenient forum. During the period a Legal Dispute that is filed in accordance with
this<U>&nbsp;Section</U><U></U><U>&nbsp;11</U>&nbsp;is pending before the Chosen Courts, all actions, suits or proceedings with respect to such Legal Dispute or any other Legal Dispute, including any counterclaim, cross-claim or interpleader, shall
be subject to the exclusive jurisdiction of the Chosen Courts. Each party and any person asserting rights as a third party beneficiary may do so only if he, she or it waives, and shall not assert as a defense in any Legal Dispute, that:
(a)&nbsp;such party is not personally subject to the jurisdiction of the Chosen Courts for any reason; (b)&nbsp;such action, suit or proceeding may not be brought or is not maintainable in the Chosen Courts; (c)&nbsp;such party&#8217;s property is
exempt or immune from execution; (d)&nbsp;such action, suit or proceeding is brought in an inconvenient forum; or (e)&nbsp;the venue of such action, suit or proceeding is improper. A final judgment in any action, suit or proceeding described in
this<U>&nbsp;Section</U><U></U><U>&nbsp;11</U>&nbsp;following the expiration of any period permitted for appeal and subject to any stay during appeal shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by applicable laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <U>Waiver of Jury Trial</U>. EACH OF THE PARTIES AND ANY PERSON ASSERTING RIGHTS AS A THIRD
PARTY BENEFICIARY MAY DO SO ONLY IF HE, SHE OR IT IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED UNDER THIS
AGREEMENT AND FOR ANY COUNTERCLAIM RELATING THERETO. IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL ASSERT IN SUCH
LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED UNDER THIS AGREEMENT. FURTHERMORE, NO PARTY NOR ANY PERSON ASSERTING RIGHTS AS A THIRD PARTY BENEFICIARY SHALL SEEK TO
CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL CANNOT BE WAIVED. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <U>Freely
Tradable</U>. The Company confirms that (i)&nbsp;the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares will be freely tradeable without restrictive legends following the Business Combination; (ii)&nbsp;the
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares will not require <FONT STYLE="white-space:nowrap">re-registration</FONT> pursuant to a registration statement filed with the SEC on Form <FONT STYLE="white-space:nowrap">S-1</FONT> or
Form <FONT STYLE="white-space:nowrap">S-3</FONT> or equivalent following the Business Combination; and (iii)&nbsp;the Investor shall not be identified as a statutory underwriter with respect to the
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares in any registration statement filed with the SEC on Form <FONT STYLE="white-space:nowrap">S-1</FONT> or Form <FONT STYLE="white-space:nowrap">S-3</FONT> or equivalent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <U>Form <FONT STYLE="white-space:nowrap">W-9</FONT> or <FONT STYLE="white-space:nowrap">W-8</FONT></U>. The Investor shall, upon or prior
to the consummation of the Business Combination, execute and deliver to the Company a completed IRS Form <FONT STYLE="white-space:nowrap">W-9</FONT> or Form <FONT STYLE="white-space:nowrap">W-8,</FONT> as applicable. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <U>Withholding</U>. Notwithstanding any other provision of this Agreement, the Company,
Legacy Kodiak and any of their agents and representatives, as applicable, shall be entitled to deduct and withhold from any amount payable hereunder any such taxes as may be required to be deducted and withheld from such amounts (and any other
amounts treated as paid for applicable tax law) under the Internal Revenue Code of 1986, as amended, or any other applicable tax law (as determined in good faith by the party so deducting or withholding in its sole discretion). To the extent that
any amounts are so deducted and withheld, such deducted and withheld amounts shall be treated for all purposes of this Agreement as having been paid to the person in respect of which such deduction and withholding was made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16. <U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17. <U><FONT
STYLE="white-space:nowrap">Non-Reliance</FONT></U>. The Investor has had the opportunity to consult its own advisors, including financial and tax advisors, regarding this Agreement or the arrangements contemplated under this Agreement and the
Investor acknowledges that neither the Company nor any representative, agent or affiliate of the Company has provided or will provide the Investor with any financial, tax or other advice relating to this Agreement or the arrangements contemplated
hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18. <U>No Third Party Beneficiaries</U>. This Agreement shall be for the sole benefit of the parties and their respective
successors and permitted assigns. Except as expressly named in this Section&nbsp;18, this Agreement is not intended, nor shall be construed, to give any person, other than the parties and their respective successors and assigns, any legal or
equitable right, benefit or remedy of any nature whatsoever by reason this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19. <U>Assignment</U>. This Agreement and all of
the provisions of this Agreement will be binding upon and inure to the benefit of the parties to this Agreement and their respective successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations under this
Agreement will be assigned (including by operation of law) without the prior written consent of the <FONT STYLE="white-space:nowrap">non-assigning</FONT> party to this Agreement (not to be unreasonably withheld, conditioned or delayed).
Notwithstanding the foregoing, the Investor may transfer its rights, interests and obligations under this Agreement to one or more investment funds or accounts managed or advised by the Investor (or a related party or affiliate) and to the extent
such transferee is not a party to this Agreement, such transferee shall agree to be bound by the terms of this Agreement prior to any such transfer being effectuated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20. <U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21. <U><FONT
STYLE="white-space:nowrap">Lock-Up</FONT></U>. For the avoidance of doubt, the <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares shall not be subject to any <FONT STYLE="white-space:nowrap">lock-up</FONT> provision or agreement with the
Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22. <U>Specific Performance</U>. The parties agree that irreparable damage may occur in the event that any of the provisions of
this Agreement are not performed in accordance with their specific terms or are otherwise breached. It is accordingly agreed that monetary damages may not be an adequate remedy for such breach and the
<FONT STYLE="white-space:nowrap">non-breaching</FONT> party shall be entitled to seek injunctive relief, in addition to any other remedy that such party may have in law or in equity, and to enforce specifically the terms and provisions of this
Agreement in the chancery court or any other state or federal court within the State of Delaware. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23. <U>Amendment</U>. This Agreement
may not be amended, changed, supplemented, waived or otherwise modified, except upon the execution and delivery of a written agreement executed by the parties to this Agreement. No such amendment, change, supplement, waiver or other modification by
the Company of the provisions of this Agreement shall be effective without the prior written consent of Kodiak (other than modifications or waivers that are solely ministerial in nature or otherwise immaterial and do not affect any economic or any
other material term of this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">24. <U>Severability</U>. If any provision of this Agreement is held invalid or unenforceable by
any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent
not held invalid or unenforceable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">25. <U>No Partnership, Agency or Joint Venture</U>. This Agreement is intended to create a contractual
relationship between the Investor, on the one hand, and the Company, on the other hand, and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship between the parties. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">26. <U>Registration Rights</U>. With respect to the Investor Shares, the Investor shall be
entitled to the registration rights set forth in Section&nbsp;7 of the form of Subscription Agreement filed as Exhibit 10.1 to the Current Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed by the Company with the SEC on
September&nbsp;15, 2025, <I>mutatis mutandis</I>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">27. <U>Notices</U>. All notices, consents, waivers and other communications under this
Agreement must be in writing and will be deemed to have been duly given (a)&nbsp;if personally delivered, on the date of delivery; (b)&nbsp;if delivered by express courier service of national standing for next day delivery (with charges prepaid), on
the Business Day following the date of delivery to such courier service; (c)&nbsp;if delivered by electronic mail, on the date of transmission if on a Business Day before 5:00 p.m. local time of the business address of the recipient party (otherwise
on the next succeeding Business Day), provided the sender receives no bounce-back or similar message indicating <FONT STYLE="white-space:nowrap">non-delivery;</FONT> in each case to the appropriate addresses set forth below (or to such other
addresses as a party may designate by notice to the other parties in accordance with this Section&nbsp;27): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the Company prior to consummation of
the Business Combination</U>: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Ares Acquisition Corporation II </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">245 Park Avenue, 44th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">New
York, New York 10167 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Allyson Satin; Anton Feingold; Eric Waxman </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Ares Management
Corporation </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1800 Avenue of the Stars </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Suite 1400 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Los Angeles, CA 90067
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Allyson Satin; Anton Feingold </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: [***] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not
constitute notice) to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kirkland&nbsp;&amp; Ellis LLP </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">2049 Century Park East, Suite 3700 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Los Angeles, California 90067 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Philippa Bond, P.C.; Van Whiting </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email: [***] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;[***] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not constitute notice) to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kodiak Robotics, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1045
Terra Bella Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Mountain View, CA 94043 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Chief Legal Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email:
[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy (which will not constitute notice) to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Wilson Sonsini Goodrich&nbsp;&amp; Rosati Professional Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">650 Page Mill Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Palo Alto, CA
94304-1050 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Melissa Rick; Austin March </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:&nbsp;[***]</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;&#8201;[***] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the Company after consummation of the Business Combination</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Kodiak AI, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">1045 Terra Bella
Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Mountain View, CA 94043 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Chief Legal Officer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Email:
[***] </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Wilson Sonsini Goodrich&nbsp;&amp; Rosati Professional Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">650 Page Mill Road </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Palo Alto, CA
94304-1050 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Attn: Melissa Rick; Austin March </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">E-mail:&nbsp;[***]</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#8194;&#8201;&#8201;[***] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>If to the
Investor</U>: To the address set forth on <U>Exhibit A</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">28. <U>Counterparts</U>. This Agreement may be executed in two or more
counterparts (any of which may be delivered by electronic transmission), each of which shall constitute an original, and all of which taken together shall constitute one and the same instrument, and shall include images of manually executed
signatures transmitted by electronic format (including, without limitation, &#8220;pdf&#8221;, &#8220;tif&#8221; or &#8220;jpg&#8221;) and other electronic signatures (including, without limitation, DocuSign and AdobeSign). The use of electronic
signatures and electronic records (including, without limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a
manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">29.
<U>Entire Agreement</U>. This Agreement and the agreements referenced in this Agreement constitute the entire agreement and understanding of the parties in respect of the subject matter hereof and supersede all prior understandings, agreements or
representations by or among the parties to the extent that they relate in any way to the subject matter hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">30. <U>Most Favored
Nation</U>. In the event the Company enters one or more Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements with any Other Investors before or after the execution of this Agreement with respect to a number of <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Shares equal to or less than the number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares committed by the Investor, the Company represents that the terms of such Other <FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements are not materially more favorable to such Other Investors thereunder than the terms of this Agreement are in respect of the Investor. In the event that any Other Investor who has entered
into any Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreement with respect to a number of <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares equal to or less than the number of
<FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Shares committed by the Investor is afforded any such more favorable terms pursuant to such Other <FONT STYLE="white-space:nowrap">Non-Redemption</FONT> Agreements than the Investor, the Company
shall promptly inform the Investor of such more favorable terms in writing, and the Investor shall have the right to elect to have such more favorable terms included in this Agreement, in which case the parties to this Agreement shall promptly amend
this Agreement to effect the same. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature page follows] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, this Agreement has been duly executed by the parties as of the date
first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"><B>Ares Acquisition Corporation II</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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<TD HEIGHT="16" COLSPAN="3"></TD></TR>
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<TD VALIGN="top" COLSPAN="3"><B>Kodiak Robotics Inc.</B></TD></TR>
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<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top" COLSPAN="3"><B>Investor</B></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Title:</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT A </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; "><B>Investor</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number of Investor</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Shares of Common</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Stock to
be received by</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>the Investor</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number of Ordinary</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Shares to be Held as</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">Non-Redemption</FONT> Shares</B></P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">[ ] shares of Common Stock</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">[ ] Class&nbsp;A Ordinary Shares</TD></TR>
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<TD VALIGN="top">Address:</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">SSN/EIN:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">If at any time Investor would beneficially own in excess of 9.9% of the Common Stock, Investor elects to be
subject to the &#8220;Maximum Percentage&#8221; set forth in Section&nbsp;3.3.5 of the Warrant Agreement (as defined in the Warrant Certificate). </P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Kodiak and Ares
Acquisition Corporation II Have Raised Over $275&nbsp;Million to Support Proposed Business Combination Following Redemptions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Institutional Investors Have Funded or Committed Over $212 Million in Financing in Total </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Over $62&nbsp;million to Remain in Trust Account Following Redemptions </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Extraordinary General Meeting of Shareholders Postponed to 2:00 p.m. September&nbsp;23, 2025 </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>MOUNTAIN VIEW, Calif. and NEW YORK (September 23, 2025) </B>&#8212; Kodiak Robotics, Inc. (&#8220;Kodiak&#8221; or the &#8220;Company&#8221;), a leading
provider of <FONT STYLE="white-space:nowrap">AI-powered</FONT> autonomous vehicle technology, and Ares Acquisition Corporation II (NYSE: AACT) (&#8220;AACT&#8221;), a publicly traded special purpose acquisition company, today announced that,
following redemptions, they have raised over $275&nbsp;million to support the proposed business combination (the &#8220;proposed business combination&#8221;) between AACT and Kodiak. This includes approximately $212.5&nbsp;million financing to
Kodiak and AACT invested or committed by institutional investors in connection with the proposed business combination and approximately $62.9&nbsp;million remaining in the Trust Account following redemptions, before expenses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#8220;We are pleased by the support from our investors and believe the capital we&#8217;ve secured well-positions us as we move forward towards completing
this transaction and becoming a public company,&#8221; said Don Burnette, Founder and CEO of Kodiak. &#8220;We originally targeted a $100&nbsp;million PIPE and successfully raised more than $212&nbsp;million, which we believe demonstrates our
investors&#8217; confidence in Kodiak, and positions us for long-term financial success. With this strong foundation, we are focused on executing our strategy and solving some of the toughest challenges in the trucking industry.&#8221; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The extraordinary general meeting of shareholders (the &#8220;Extraordinary General Meeting&#8221;) to approve the proposed business combination was
originally scheduled to be held at 9:00 a.m. Eastern Time on September&nbsp;23, 2025. The board of directors of AACT has decided to postpone the Extraordinary General Meeting to allow additional time for AACT to engage with its shareholders.
<B><I>The postponed meeting will be held on September</I></B><B><I></I></B><B><I>&nbsp;23, 2025, at 2:00 p.m., Eastern Time</I></B>. The Extraordinary General Meeting will be held in person at the offices Kirkland&nbsp;&amp; Ellis LLP located at 601
Lexington Avenue, New York, New York 10022 and virtually via live webcast at https://www.cstproxy.com/aresacquisitioncorporationii/egm2025. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you do not
have access to the internet, you can listen only to the meeting by dialing <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">1&nbsp;800-450-7155&nbsp;(toll-free)</FONT></FONT> (or <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">+1&nbsp;857-999-9155&nbsp;if</FONT></FONT> you are located outside the United States and Canada (standard rates apply)) and when prompted enter the pin number 8489057#. Please note that you will not be able to vote or ask
questions at the Extraordinary General Meeting if you choose to participate telephonically. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders of AACT&#8217;s ordinary shares at the close of business on the record date of August&nbsp;20, 2025,
are entitled to notice of the Extraordinary General Meeting and to vote at the Extraordinary General Meeting. AACT and Kodiak filed the definitive proxy statement/prospectus relating to the proposed business combination and AACT began mailing it to
shareholders as of the record date on or about Friday August&nbsp;29, 2025. More details about the proposed business combination and the resolutions to be voted upon at the Extraordinary General Meeting can be found in the definitive proxy
statement/prospectus filed by AACT, available at: http://www.sec.gov. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Assuming satisfaction of the conditions to the closing of the proposed business
combination, including approval of the proposed business combination by AACT&#8217;s shareholders, the post-proposed business combination company intends to list its common stock and public warrants on The Nasdaq Stock Market (&#8220;Nasdaq&#8221;)
under the proposed symbols &#8220;KDK&#8221; and &#8220;KDKRW,&#8221; respectively. The Nasdaq listing is subject to the closing of the proposed business combination and fulfillment of all Nasdaq listing requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Every vote is important and AACT encourages all shareholders to make their voices heard by authorizing their proxy online or by mail as soon as possible,
regardless of the number of shares held. AACT shareholders who need assistance in completing the proxy card, need additional copies of the proxy statement/prospectus, or have questions regarding the Extraordinary General Meeting may contact
AACT&#8217;s proxy solicitor, Sodali&nbsp;&amp; Co, by calling (800) <FONT STYLE="white-space:nowrap">662-5200</FONT> (toll free) or banks and brokers can call (203) <FONT STYLE="white-space:nowrap">658-9400,</FONT> or by <FONT
STYLE="white-space:nowrap">e-mailing</FONT> AACT.info@investor.sodali.com. </B></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Kodiak Robotics, Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kodiak Robotics, Inc. was founded in 2018 and is a leading provider of <FONT STYLE="white-space:nowrap">AI-powered</FONT> autonomous vehicle technology that is
designed to help tackle some of the toughest driving jobs. Kodiak&#8217;s driverless solution can help address the critical problem of safely transporting goods in the face of unprecedented supply chain challenges. Kodiak&#8217;s vision is to become
the trusted world leader in autonomous ground transportation. Kodiak is committed to a safer and more efficient future for all through the commercialization of driverless trucking at scale. To that end, Kodiak developed the Kodiak Driver, a virtual
driver that combines advanced <FONT STYLE="white-space:nowrap">AI-powered</FONT> software with modular and vehicle-agnostic hardware designed to help address Kodiak&#8217;s customers&#8217; needs. The Kodiak Driver is not just an <FONT
STYLE="white-space:nowrap">idea-it</FONT> is operating without a human driver today. Kodiak serves customers in both commercial trucking and the public sector. In 2024, Kodiak believes it achieved a historic milestone by becoming the first company
to deploy customer-owned and -operated driverless trucks in commercial service. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Kodiak Driver is also being utilized in the public sector, where Kodiak believes it can support national
security initiatives and critical government applications. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Ares Acquisition Corporation II </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ares Acquisition Corporation II (NYSE: AACT) is a special purpose acquisition company affiliated with Ares Management Corporation, formed for the purpose of
effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release includes forward-looking statements including regarding AACT&#8217;s or Kodiak&#8217;s or their management teams&#8217;
expectations, hopes, beliefs, intentions or strategies regarding the future. Forward-looking statements may be identified by the use of words such as &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;continue,&#8221; &#8220;could,&#8221;
&#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;intend,&#8221; &#8220;expect,&#8221; &#8220;may,&#8221; &#8220;plan,&#8221; &#8220;potential,&#8221; &#8220;project,&#8221; &#8220;seek,&#8221; &#8220;should,&#8221; &#8220;will,&#8221;
&#8220;would&#8221; and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These
forward-looking statements include, but are not limited to, statements regarding: the amount of cash expected to remain in AACT&#8217;s trust account at closing, the satisfaction of the conditions to the closing of the proposed business combination,
Kodiak&#8217;s and AACT&#8217;s expectations with respect to the future performance and the success of the combined company following the consummation of the proposed business combination (the &#8220;<U>combined company</U>&#8221;); expectations
regarding the completion of proposed preferred stock and PIPE investments in the Company, the proposed business combination and the combined company being listed on Nasdaq following completion of the proposed business combination; and the expected
benefits of the proposed business combination. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Kodiak&#8217;s and AACT&#8217;s management and are not predictions
of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied upon by any investors as, a guarantee, an assurance, a prediction or a definitive statement
of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Kodiak and AACT. These forward-looking statements are
subject to a number of risks and uncertainties, including changes in business, market, financial, political and legal conditions; the inability of the parties to successfully or timely consummate the proposed business combination, including the risk
that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed business combination or that the approval of the equity
holders of Kodiak or AACT is not obtained; failure to realize the anticipated benefits of the proposed business combination; risks related to the rollout of Kodiak&#8217;s business and the timing of expected business milestones; the effects of
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
competition on Kodiak&#8217;s business; supply shortages in the materials necessary for the production of the Kodiak Driver; risks related to working with third-party manufacturers for key
components of the Kodiak Driver; risks related to the retrofitting of Kodiak&#8217;s vehicles by third parties; the termination or suspension of any of Kodiak&#8217;s contracts or the reduction in counterparty spending; delays in Kodiak&#8217;s
operational roadmap with key partners and customers; AACT&#8217;s ability to consummate the expected private placement of equity securities in connection with the consummation of the proposed business combination; and the ability of AACT or the
combined company to issue equity or equity-linked securities in connection with the proposed business combination or in the future. Additional information concerning these and other factors that may impact such forward-looking statements can be
found in filings and potential filings by Kodiak, AACT or the combined company resulting from the proposed business combination with the Securities and Exchange Commission (the &#8220;SEC&#8221;), including under the heading &#8220;Risk
Factors.&#8221; If any of these risks materialize or any assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Kodiak nor AACT
presently know or that Kodiak and AACT currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. These forward-looking statements are provided for illustrative purposes
only and are not intended to serve as and must not be relied on by investors as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, forward-looking statements reflect Kodiak&#8217;s and AACT&#8217;s expectations, plans or forecasts of future events and views as of the date
they are made. Kodiak and AACT anticipate that subsequent events and developments will cause Kodiak&#8217;s and AACT&#8217;s assessments to change. However, while Kodiak and AACT may elect to update these forward-looking statements at some point in
the future, Kodiak and AACT specifically disclaim any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Kodiak&#8217;s or AACT&#8217;s assessments as of any date subsequent to
the date they are made. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither Kodiak, AACT, nor any of their respective affiliates have any obligation to update these forward-looking statements other than as
required by law. In addition, this press release contains certain information about the historical performance of Kodiak. You should not view information related to the past performance of Kodiak as indicative of future results. Certain information
set forth in this press release includes estimates and targets and involves significant elements of subjective judgment and analysis. No representations are made as to the accuracy of such estimates or targets or that all assumptions relating to
such estimates or targets have been considered or stated or that such estimates or targets will be realized. </P>
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<IMG SRC="g946584g82w81.jpg" ALT="LOGO" STYLE="width:1.19444in;height:1.14514in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt;margin-bottom:1pt" ALIGN="right">


<IMG SRC="g946584g00m19.jpg" ALT="LOGO" STYLE="width:3.47778in;height:0.551389in;">
</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the proposed business combination, AACT and Kodiak filed a registration statement on Form <FONT STYLE="white-space:nowrap">S-4</FONT> (File <FONT
STYLE="white-space:nowrap">No.&nbsp;333-</FONT> 287278) (the &#8220;Registration Statement&#8221;), which includes a prospectus with respect to the combined company&#8217;s securities to be issued in connection with the proposed business combination
and a proxy statement with respect to the shareholder meeting of AACT to vote on the proposed business combination. The Registration Statement has been declared effective by the SEC and AACT has mailed a definitive proxy statement/prospectus and
other relevant documents to its shareholders. The Registration Statement includes information regarding the persons who may, under the SEC rules, be deemed participants in the solicitation of proxies to AACT&#8217;s shareholders in connection with
the proposed business combination. AACT has filed and will file other documents regarding the proposed business combination with the SEC. SECURITY HOLDERS OF KODIAK AND AACT ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS
AND SUPPLEMENTS THERETO) AND OTHER DOCUMENTS AND RELEVANT MATERIALS RELATING TO THE PROPOSED BUSINESS COMBINATION THAT HAVE AND WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BEFORE MAKING ANY VOTING DECISION
WITH RESPECT TO THE PROPOSED BUSINESS COMBINATION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION AND THE PARTIES TO THE PROPOSED BUSINESS COMBINATION. Shareholders are able to obtain free copies of the proxy
statement/prospectus and other documents containing important information about Kodiak and AACT once such documents are filed with the SEC through the website maintained by the SEC at <U>http://www.sec.gov</U>. In addition, the documents filed by
AACT may be obtained free of charge from AACT at <U>www.aresacquisitioncorporationii.com</U>. Alternatively, these documents, when available, can be obtained free of charge from AACT upon written request to Ares Acquisition Corporation II, 245 Park
Avenue, 44th Floor, New York, NY 10167, Attn: Secretary, or by calling (888) <FONT STYLE="white-space:nowrap">818-5298.</FONT> The information contained on, or that may be accessed through the websites referenced in this press release is not
incorporated by reference into, and is not a part of, this press release. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and security holders can obtain free copies of the Registration
Statement, the definitive proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by AACT through the website maintained by the SEC at <U>http://www.sec.gov</U>. In addition, the documents filed by AACT
may be obtained free of charge from AACT&#8217;s website at <U>www.aresacquisitioncorporationii.com</U> or by written request to AACT at Ares Acquisition Corporation II, 245 Park Avenue, 44th Floor, New York, NY 10167. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g946584g82w81.jpg" ALT="LOGO" STYLE="width:1.19444in;height:1.14514in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt;margin-bottom:1pt" ALIGN="right">


<IMG SRC="g946584g00m19.jpg" ALT="LOGO" STYLE="width:3.47778in;height:0.551389in;">
</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">AACT, Kodiak and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the shareholders of
AACT in connection with the proposed business combination. Security holders may obtain more detailed information regarding the names, affiliations and interests of certain of AACT&#8217;s executive officers and directors in the solicitation by
reading AACT&#8217;s final prospectus related to its initial public offering filed with the SEC on April&nbsp;24, 2023, the definitive proxy statement/prospectus filed with the SEC on August&nbsp;29, 2025, and other relevant materials filed with the
SEC in connection with the proposed business combination when they become available. Information concerning the interests of AACT&#8217;s participants in the solicitation, which may, in some cases, be different from those of AACT&#8217;s
shareholders generally, is set forth in the definitive proxy statement/prospectus. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Offer or Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release shall not constitute a solicitation of any proxy, vote, consent or approval in any jurisdiction in connection with the proposed business
combination and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of AACT, Kodiak or the combined company resulting from the proposed business combination, nor shall there be any sale of any such securities in
any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a
prospectus meeting the requirements of the Securities Act of 1933, as amended. This press release is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction in where such distribution or use would be
contrary to local law or regulation. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contacts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kodiak Media Relations </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Daniel Goff </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Director of External Affairs </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">646-515-3933</FONT></FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">dan@kodiak.ai </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Stacy Morris </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PR Consultant </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">310-415-9188</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>stacy.morris@futuristacommunications.com </U></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Kodiak
Investor Relations </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lauren Sloane </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Blueshirt Group
for Kodiak </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Lauren@blueshirtgroup.com </U></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
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<Center><DIV STYLE="width:8.5in" align="left">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

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<TD WIDTH="35%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="32%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="31%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">


<IMG SRC="g946584g82w81.jpg" ALT="LOGO" STYLE="width:1.19444in;height:1.14514in;">
</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt;margin-bottom:1pt" ALIGN="right">


<IMG SRC="g946584g00m19.jpg" ALT="LOGO" STYLE="width:3.47778in;height:0.551389in;">
</P></TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ares Media Relations </B> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jacob Silber </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>media@aresmgmt.com</U> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Ares Investor Relations </B> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Greg Mason </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">888-818-5298</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>ir@aresacquisitioncorporationii.com</U> </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
