Valneva IPO Presentation Deck

V Valneva has filed a registration statement, which includes a preliminary prospectus, with the Securities and Exchange Commission ("SEC") for the offering to which this presentation relates. Before you invest, you should read the preliminary prospectus in that registration statement and other documents Valneva has filed with the SEC for more complete information about the Company and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec gov. Alternatively, Valneva, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by contacting the offices of Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, by telephone 1-866-471-2526, or by emailing [email protected]; Street, 2nd Floor, New York, New York 10014; or Jefferies LLC Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by emailing Prospectus [email protected] Valneva is a European company. Information distributed is subject to European disclosure requirements that are different from those of the United States. Financial statements and information may be prepared according to accounting standards which may not be comparable to those used generally by companies in the United States. This presentation includes only summary information and does not purport to be comprehensive. Any information in this presentation is purely indicative and subject to modification at any time. Valneva does not warrant the completeness, accuracy or correctness of the information or opinions contained in this presentation. None of Valneva, or any of their affiliates, directors, officers, advisors and employees shall bear any liability for any loss arising from any use of this presentation. Certain information and statements included in this presentation are not historical facts but are forward-looking statements. The forward-looking statements (a) are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Valneva operates, and involve known and unknown risk, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements, (b) speak only as of the date this presentation is released, and (c) are for illustrative purposes only. Investors are cautioned that forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Valneva. Disclaimer Valneva - Roadshow Presentation April 2021 2

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