Novavax Global Commercial Operations and COVID-19 Vaccine Update

Long-term market opportunity expected for COVID-19 Transition to more traditional commercial market underway in priority markets >$15B Projected annual global market size over time¹ Ongoing need for annual seasonal vaccination Transition from pandemic to endemic COVID-19 ✓ COVID-19 vaccines remain important part of immunization schedules novavax 1. Projected global COVID-19 market size based on internal analyses and third-party research reports. EU and U.S. ~$10B of total opportunity ROW Remainder of total opportunity © 2023 NOVAVAX. All rights reserved. 11

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