Valneva IPO Presentation Deck

Mechanism of Action of OspA Based Vaccines Is Understood Anti-OspA Protective Response with Lyme Disease Vaccines Step 1 Vaccine, when injected, elicits high levels of anti- OspA antibodies Ha Valneva - Roadshow Presentation Step 2 Tick attaches to vaccinated human and begins blood meal (24- to 48-hour attachment needed to transmit B. burgdorferi) Step 3 Anti-OspA antibodies from human host enter tick Step 4 Human anti-OspA antibodies eliminate B. burgdorferi in tick midgut, preventing transmission to human host April 2021 11

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