Alec Stranahan

Mayank Mamtani

Eric Joseph

Jiale Song

Christopher LoBianco

Vernon Bernardino

Brendan Smith

Chris LoBianco

Jeff Meacham

Roger Song

Thomas Shrader

Tom Shrader

- **Novavax, Inc.** completed the transfer of the marketing authorization for **Nuvaxovid™** in the European Union to **Sanofi Winthrop Industrie** on **October 1, 2025**.  **[1000694_0001104659-25-097317_tm2528134d1_8k.htm:1]** **[1000694_0001104659-25-097317_tm2528134d1_ex99-1.htm:1]** 
- This transfer triggered a **$25 million milestone payment** from **Sanofi Pasteur Inc.** under the Collaboration and License Agreement.  **[1000694_0001104659-25-097317_tm2528134d1_8k.htm:1]** **[1000694_0001104659-25-097317_tm2528134d1_ex99-1.htm:1]** 
- Novavax anticipates receiving this **$25 million payment** in the **first quarter of 2026**.  **[1000694_0001104659-25-097317_tm2528134d1_8k.htm:1]** 
- The company is eligible for additional future milestones and royalties, including **$25 million** for U.S. marketing authorization transfer and **$75 million** upon completion of technology transfer of its manufacturing process to Sanofi.  **[1000694_0001104659-25-097317_tm2528134d1_ex99-1.htm:1]**

Novavax Completes Nuvaxovid EU Marketing Authorization Transfer to Sanofi, Triggering Milestone Payment

- Novavax has completed the transfer of the marketing authorization for its COVID-19 vaccine, Nuvaxovid®, to Sanofi in the European Union (EU).  **[1000694_20251007PH91868:0]** 
- This transfer grants Sanofi full responsibility for commercial and regulatory activities in the EU and triggered a **$25 million milestone payment** to Novavax.  **[1000694_20251007PH91868:0]** 
- Under the collaboration and license agreement, Novavax is eligible for additional future milestones, including **$25 million** for U.S. marketing authorization transfer and **$75 million** upon completion of manufacturing technology transfer to Sanofi.  **[1000694_20251007PH91868:0]** 
- Novavax is also eligible for up to **$350 million** in future milestones for Sanofi combination products, and ongoing tiered royalties from sales of both stand-alone COVID-19 and Sanofi combination products, plus further milestones and royalties for Sanofi products utilizing its Matrix-M® adjuvant.  **[1000694_20251007PH91868:0]**

Novavax Completes EU Marketing Authorization Transfer to Sanofi, Triggering Milestone Payment

- Novavax, Inc. and Sanofi have amended their collaboration and license agreement to include Novavax's **Matrix-M adjuvant** in Sanofi's **pandemic influenza vaccine candidate program**.  **[1000694_20250930PH86096:0]** 
- The amendment permits Sanofi to use Matrix-M in early-stage development through Phase 2, with license rates and financial terms for Phase 3 clinical development to be negotiated later.  **[1000694_20250930PH86096:0]** 
- Under the original agreement, Novavax is eligible to receive up to **$200 million** for the first four products utilizing Matrix-M, and up to **$210 million** in milestone payments for each subsequent product, plus ongoing royalties.  **[1000694_20250930PH86096:0]**

Novavax Expands Sanofi Partnership for Pandemic Influenza Vaccine Program

- On **August 27, 2025**, Novavax, Inc. issued **$225.0 million** aggregate principal amount of **4.625% Convertible Senior Notes due 2031**.  **[1000694_0001104659-25-084053_tm2524511d1_8k.htm:1]** **[1000694_0001104659-25-084053_tm2524511d1_ex4-1.htm:120]** 
- This issuance included approximately **$175.3 million** in exchange for existing 5.00% Convertible Senior Notes due 2027 and **$49.7 million** for cash.  **[1000694_0001104659-25-084053_tm2524511d1_8k.htm:1]** 
- The Notes mature on **September 1, 2031**, accrue interest at **4.625%** per annum, and have an initial conversion price of approximately **$11.14** per share, representing a **27.5% premium** over the August 20, 2025, stock price of **$8.74**.  **[1000694_0001104659-25-084053_tm2524511d1_8k.htm:1]** **[1000694_0001104659-25-084053_tm2524511d1_ex4-1.htm:120]**  A maximum of **25,743,690 shares** of common stock could be issued upon conversion.  **[1000694_0001104659-25-084053_tm2524511d1_8k.htm:1]** **[1000694_0001104659-25-084053_tm2524511d1_8k.htm:4]**

Novavax Issues $225 Million Convertible Senior Notes

NOVAVAX (NVAX)