Kerrisdale Capital is an investment management firm. We make value-oriented investments in public securities.

Kerrisdale stands to realize gains in the event that the price of the stock increases. Following publication, Kerrisdale may transact in the securities of the company.

Kerrisdale Capital Management, LLC | 212.792.7999 | www.kerrisdalecap.com 3 expectations for this metric has led to significant gains in the company’s stock price.

We are short shares of Red Cat Holdings, a $1 billion drone manufacturer that’s added more than $900 million in market capitalization over the last 9 months mostly in anticipation of an award for the production of the US Army’s short range reconnaissance (SRR) drone and the supposedly massive market opportunity unlocked by such a high-profile endorsement.

C3.ai (AI) Driving Shareholder Value Through Prescient Stock Ticker Selection . Mar. 6

Disclaimer: As of the publication date of this report, Kerrisdale Capital Management, LLC and its affiliates (collectively, “Kerrisdale”), have short positions in shares of Oklo, Inc. (“OKLO” or “the Company”).

Kerrisdale Capital Management, LLC | Tel: 212.792.7999 | [email protected] 3 I. Investment Highlights The SRR contract that Red Cat won in November and preemptively announced without

Kerrisdale Capital Management, LLC | Tel: 212.792.7999 | Email: [email protected]. 2 . Investment Overview . Co-founded in 1989 by CEO Michael Saylor, MicroStrategy is a bitcoin development company committed to using cash flows from its software business and capital markets proceeds to accumulate bitcoin. From August 2020 to 2023 ...

Sahm Adrangi is the Founder and Chief Investment Officer of Kerrisdale Capital Management. He has been involved in all aspects of the firm’s development since its founding in 2009. Mr. Adrangi launched the company with under $1 million and the firm manages approximately $400 million as of December 1, 2023.

We are short shares of Oklo Inc., a $3bn nuclear energy company that went public via SPAC six months ago – with no regulator-approved design, no revenue for years, and no proven commercial viability for its planned 15-50 MWe microreactors. A story stock which....