• Given the sufficient supply of COVID-19 vaccines globally, Moderna & Gavi have mutually agreed to cancel remaining pending orders under the current COVID-19 vaccine supply agreement for 2022
• Gavi and Moderna have agreed to create a new framework that would enable Gavi to purchase up to 100 million doses of updated variant-specific COVID-19 vaccines in 2023, with all doses offered at Moderna's lowest-tiered price

Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, and Gavi, the Vaccine Alliance, have mutually agreed to cancel remaining pending orders under the current COVID-19 vaccine supply agreement for 2022. Moderna's agreement with Gavi has led to the supply of nearly 70 million doses of COVID-19 vaccines to the 92 Gavi COVAX Advance Market Commitment (AMC) low- and middle-income countries, in addition to the Company facilitating the donation of more than 100 million doses to these countries. This has played a key role in ensuring that the global supply of COVID-19 vaccines is sufficient to underpin the overarching objective of supporting equitable, full vaccination of adult and adolescent populations globally.

To ensure low- and middle-income countries have access to updated variant-specific COVID-19 vaccines, Gavi and Moderna will create a new framework enabling Gavi to purchase up to 100 million doses in 2023 on behalf of the COVAX Facility. All doses are offered at Moderna's lowest-tiered price.

"Gavi and our COVAX partners have been pivotal in ensuring the global supply of COVID-19 vaccines, leading the largest and most rapid vaccine rollout in history,' said Stéphane Bancel, Chief Executive Officer of Moderna. "We are proud of our role in this endeavor and will continue to support COVAX's mission to ensure broad, affordable, and equitable access to COVID-19 vaccines across low- and middle-income countries as we move towards a world where COVID-19 is endemic."

"This agreement with Moderna represents a critical step for equitable access, helping COVAX adjust its portfolio to current demand and ensuring lower income countries have access to variant-containing vaccines to use where appropriate," said Dr Seth Berkley, CEO of Gavi, which leads procurement and delivery at scale for COVAX.

About Moderna

In over 10 years since its inception, Moderna has transformed from a research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities, a broad intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation, and an integrated manufacturing plant that allows for rapid clinical and commercial production at scale. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna's capabilities have come together to allow the authorized use and approval of one of the earliest and most effective vaccines against the COVID-19 pandemic.

Moderna's mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases, and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past seven years. To learn more, visit www.modernatx.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including regarding: the creation of a new framework between Moderna and Gavi to enable Gavi to purchase up to 100 million doses in 2023 on behalf of the COVAX Facility; and the pricing for doses to be offered to Gavi under the new framework. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include those other risks and uncertainties described under the heading "Risk Factors" in Moderna's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, each filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC's website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna's current expectations and speak only as of the date hereof.

Moderna Contacts:

Media:
Luke Mircea Willats
Director, Corporate Communications
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Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
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