Then they kiss! Whoo! Take that, will-they-or-won't-they sexual tension! No, wait, Sarah's just happy to be alive, and Michael's just confused. KITT tells them to get to "the rendezvous point," which keeps with the generic tone of the whole affair. Michael and Sarah escape through a random boiler room while she explains that the goons were looking for Mike Traceur (our Michael), not the files. They pause to use an exploding cufflink to get through a door that looks like it could be pretty easily kicked open, dodge some automatic weapons fire, and sneak through a grating. Then they combine his pen and her hairpin to weld it shut. KITT uses a magic program to reformulate himself into a pickup truck... seriously? I guess that will come in handy when Michael needs to move because his apartment goes condo. Michael and Sarah jump into the bed (Whoooo!), then KITT transforms back into a car, and Michael and Sarah are in the front seats. Sure, why not?
More exposition. Sarah complains about Michael losing the package. Also, a helicopter has shot a missile at them. Michael insists that KITT deploy flares, which, after some complaining, he does. But they're ineffective because KITT has already cooled his temperature to match ambient heat sources (or something. I'm pretty sure all those words were in it, but they may have been in a different order). The missile isn't targeting KITT -- it's targeting Michael! Also, KITT tells us that his sensors indicate something odd about the missile. KITT seems to like starting sentences with "My sensors indicate". I kind of like the effect. My eyes tell me that Michael needs a shave. My eyes also tell me that we're cutting to Knight Industries Research & Development Satellite Surveillance Chamber. Location: CLASSIFIED." And the "CLASSIFIED" is in blinking red so you know they mean it. It looks kind of like that room they keep the Stargate in. They've sure come a long way since they had to keep all their stuff in a truck that Michael had to park in the back of.
Well, wherever they are (is it Vancouver? I bet it's Vancouver) there are about twenty people running around and panicking. A voice (not KITT's) counts down to impact. At 15 seconds, a young lady says "This just got interesting," which seems to imply that it wasn't interesting with 20 seconds until impact. Somebody else is working on a computer with chemical symbols on its screen. The missile hits and we finally achieve the opening credits. Sheesh!