Vaxcyte Corporate Presentation

Pneumococcal Vaccine Market is Highly Attractive VAX-24 has the Potential to Become the Most Broad-Spectrum PCV Pneumococcal Vaccine Market Dynamics • • Spectrum of coverage drives adoption Highly attractive margins: - Prevnar 13 & Pneumovax 23 are premium priced in the US Durable revenue stream: - Prevnar 13 & Pneumovax have generated >$100B in revenues PCVs are best-in-class: Well-understood T-cell dependent MOA tied to co-presentation of disease-specific polysaccharide antigens with mapped T-cell epitopes on protein carrier Well-defined clinical development path: Non-inferiority to SOC using validated surrogate immune endpoints now adequate for full approval for follow-on PCVS Potential for rapid adoption: Governing body - ACIP recommendation drives uptake - Prevnar 13 vs Prevnar 7 - ShingrixⓇ vs ZostavaxⓇ MOA = mechanism of action; SOC = standard of care; ACIP = US CDC Advisory Committee on Immunization Practices. (1) Revenues reported in GSK (Shingrix) and Merck (Zostavax) financial filings. 13 ($Billions) SHINGRIX HERPES ZOSTER VACCINE NON-LIVE RECOMBINANT, ASOI, ADJUVANTED) $3.0 ■Zostavax Shingrix (1) $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 2017 2018 2019 2020 • FDA Approved in 4Q:2017 to prevent shingles in adults • ACIP granted “preferred recommendation" • Replaced the incumbent (Zostavax from Merck) о

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