Valneva IPO Presentation Deck

VLA2001 Was Well Tolerated in Phase 1/2 Safety Profile Within the Expected Range for an Inactivated Vaccine First vaccination Second vaccination (5) aug Subjects with Sold Byro (5) 201- 10- DOW GROULOS aching Lab Tenderness Valneva - Roadshow Presentation Terem EVENTS Low Deere Neu Falque JM Fatge EVENTS | Low Doseondt) ■ Vestum Dosef49) © High Dưeep-501 Safety Analysis Set, Figure 1.1.1 and 1.1.2, Table 14.2.1.2 and 14.2.1.3 M Generally well tolerated across all dose groups tested, no safety concerns identified by an independent Data Safety Monitoring Board. No statistically significant differences between dose groups and no differences between first and second vaccinations in terms of reactogenicity. Majority of Adverse Events (AES) were mild or moderate and only two subjects reported severe solicited AEs (headache and fatigue). ■All solicited AEs transient. ■ Only 17.6% of unsolicited AEs up to day 36 were considered related to the vaccine and no severe unsolicited AEs were reported. No serious related AEs. April 2021 27

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