Aardvark Therapeutics (AARD) investor relations material

Executive summary

• The annual meeting is scheduled for August 14, 2026, and will be held virtually for all shareholders of record as of June 18, 2026.

• Shareholders will vote on the election of two Class I directors, ratification of the independent auditor, and the repricing of certain stock options.

• The Board recommends voting in favor of all proposals presented.

Voting matters and shareholder proposals

• Proposal 1: Election of two Class I directors (Victor Tong, Jr. and Jeffrey Chi, Ph.D.) to serve until 2029.

• Proposal 2: Ratification of BDO USA, P.C. as the independent registered public accounting firm for 2026.

• Proposal 3: Approval of repricing certain underwater stock options under the 2017, 2025, and 2025 Inducement Plans.

• Shareholders may also vote on any other business properly brought before the meeting.

Board of directors and corporate governance

• The Board consists of five members divided into three staggered classes, with a mix of independent and non-independent directors.

• Board committees include Audit, Compensation, and Nominating and Corporate Governance, all composed of independent directors.

• The Board has adopted a code of business conduct and formal corporate governance guidelines.

• Board leadership combines the roles of CEO and Chairperson, with a Lead Independent Director providing additional oversight.