BioNTech : Annual Financial Statements as of 31 December 2023

Translation from the German language

Annual Financial Statements of BioNTech SE, Mainz, December 31, 2023

Translation from the German language

Statements of Financial Position	2
Statements of Profit or Loss	4
Notes to the Separate Financial Statements	5
1 General Notes on the Annual Financial Statements	5
2 Notes on Accounting Policies	5
3 Notes to the Statements of Financial Position and the Statements of Profit or Loss	8
3.1 Intangible Assets and Property, Plant and Equipment	8
3.2 Financial Assets	9
3.3 Receivables, Other Assets and Securities	12
3.4 Cash on Hand and at Banks	12
3.5 Prepaid Expenses	12
3.6 Equity	13
3.7 Proposal for the Appropriation of Profit or Loss	14
3.8 Tax Provisions	14
3.9 Other Provisions	14
3.10	Liabilities	14
3.11 Deferred Income	15
3.12 Deferred Tax	15
3.13	Off-Statement of Financial Position Transactions and Other Financial	15
Obligations
3.14	Revenues	16
3.15 Cost of Sales	17
3.16	Research and Development Expenses	17
3.17	Sales Expenses	17
3.18	General and Administrative Expenses	17
3.19	Other Operating Income	17
3.20	Other Operating Expenses	18
3.21	Finance Result	18
3.22	Other Notes to the Statements of Profit or Loss	19
3.23	Other Notes / Corporate Bodies	20
Statements of Changes in Fixed Assets	35

1

Translation from the German language

BioNTech SE, Mainz

Statements of Financial Position as of December 31, 2023

Assets

1. Fixed assets

1. Intangible assets

1.

Purchased franchises, industrial and similar rights and assets, and licenses in such rights and assets

1. Goodwill
2. Advanced payments

1. Property, plant and equipment

1. Land, land rights and buildings, including buildings on third-party land
2. Other equipment, furniture and fixtures
3. Advanced payments and construction in progress

1. Financial assets

1. Shares in affiliated companies
2. Loans to affiliated companies
3. Equity investments
4. Securities classified as fixed assets
5. Other loans

1. Current assets

1. Inventories

1. Raw materials and supplies
2. Advanced payments

1. Receivables and other assets

1. Trade receivables
2. Receivables from affiliated companies
3. Other assets

1. Other securities

IV.	Cash on hand and at banks

1. Prepaid expenses

	December 31,	December 31,
	2023	2022
in millions €	in millions €	in millions €

650.8		59.8
2.3		1.7
21.5		10.4
674.6	71.9
42.0		35.4
52.4		30.2
42.1		34.3
136.5	99.9
1,156.5		613.4
8.5		597.4
47.0		66.7
1,326.4		-
4.4		2.2
2,542.8	1,279.7
3,353.9	1,451.5
1.1		0.7
0.1		-
1.2	0.7
1,163.6		5,585.4
1,370.5		1,540.5
279.8		147.4
2,813.9	7,273.3
	4,662.6	-
11,409.5	13,798.0
18,887.2	21,072.0
216.3	63.5
19,103.5	21,135.5
22,457.4	22,587.0

2

Translation from the German language

	Equity and liabilities			December 31,		December 31,
			2023		2022
				in millions €	in millions €		in millions €
A.	Equity

1. Share capital Treasury shares
   Issued (share) capital

Conditional capital: €85.8 million (previous year: €85.8 million)

1. Capital reserve

1. Retained earnings

IV.	Accumulated profit

1. Provisions

1. Tax provisions
2. Other provisions

1. Liabilities

1. Trade payables

2.

Liabilities to affiliated companies

3. Other liabilities

thereof for taxes: €18.1 million (previous year:

€622.9 million)

thereof for social security: €1.6 million (previous year: €1.7 million)

1. Deferred income

248.6248.6

(10.8)(5.3)

237.8243.3

695.6	1,295.4
9,845.1	9,445.4
9,361.0	8,961.2
20,139.5	19,945.3
525.1	606.1
571.7	923.3
1,096.8	1,529.4
254.2	57.2
485.8	389.6
93.4	651.6

833.4 1,098.4

387.713.9

22,457.4 22,587.0

3

Translation from the German language

BioNTech SE, Mainz

Statements of Profit or Loss for the Period from January 1, 2023 to December 31, 2023

Years ended December 31,

20232022

1

2

3

4

5

6

7

8

	in millions €	in millions €	in millions €
Revenues	3,270.1		12,514.5
Cost of sales	(250.0)		(1,615.7)
Gross profit		3,020.1	10,898.8
Research and development expenses	(1,743.6)		(1,519.7)
Sales expenses	(29.4)		(29.1)
General and administrative expenses	(535.1)		(475.4)
Other operating income	299.5		1,041.3
thereof income from currency translation: nil
(previous year: €801.2 million)
Other operating expenses	(315.6)		(717.1)
thereof expenses from currency translation:
€284.6 million (previous year: nil)

9	Income from profit transfer
	thereof from affiliated companies: expenses of
10	€184.6 million (previous year: €2,856.6 million)
Other interest and similar income
	thereof from affiliated companies: €40.0 million
	(previous year: €7.1 million)

1. Income from other securities and loans classified as fixed financial assets
2. Expenses from loss transfer
3. Interest and similar expenses

thereof to affiliated companies: €74.4 million

(previous year: €19.1 million)

1. Income taxes
2. Profit after tax
3. Net income
4. Profit carryforward from the previous year
5. Allocations to retained earnings
6. Accumulated profit

(2,324.2)	(1,700.0)
184.6	2,863.3
366.7	51.8
29.7	-
(166.2)	(86.9)
(78.0)	(30.9)
336.8	2,797.3
(233.2)	(3,370.1)
799.5	8,626.0
799.5	8,626.0
8,961.2	4,648.2
(399.7)	(4,313.0)
9,361.0	8,961.2

4

Translation from the German language

Notes to the Separate Financial Statements

1 General Notes on the Annual Financial Statements

The annual financial statements of BioNTech SE, hereinafter also referred to as the "Company," "BioNTech," "we" or "us," for the period from January 1 to December 31, 2023, have been prepared in accordance with the provisions of the German Commercial Code (HGB) and the German Stock Corporation Act (AktG).

BioNTech SE is a European limited liability company incorporated and domiciled in Germany and is registered in the commercial register B of the Mainz Local Court under the number HRB 48720. American Depositary Shares (ADSs) representing BioNTech SE's ordinary shares have been publicly traded on the Nasdaq Global Select Market since October 10, 2019. The registered office is located in Mainz, Germany (An der Goldgrube 12, 55131 Mainz).

The Mainz-based Company is a large corporation as defined by Section 267 para. 3 HGB. Thus the Company is subject to the requirements for large corporations.

The accompanying annual financial statements have been prepared on a going concern basis and in accordance with Section 242 et seq. and Section 264 et seq. HGB as well as in accordance with the relevant provisions of the AktG.

The separate financial statements are published in euros. Unless otherwise stated, the numbers are rounded to millions or thousands of euros. Accordingly, numerical figures shown as totals in some tables may not be exact arithmetic aggregations of the figures that preceded them and figures presented in the explanatory notes may not add up to the rounded arithmetic aggregations. Rounding applied may differ from rounding published in different units in the previous years.

The statements of profit or loss have been prepared using the cost of sales method in accordance with Section 275 para. 3 HGB.

2 Notes on Accounting Policies

The following accounting policies were used to prepare the annual financial statements.

Purchased intangible assets with finite useful lives are recognized at cost and amortized on a straight-line basis over their estimated useful lives. If impairment is expected to be permanent, an impairment loss is recognized to reduce the value to the lower net realizable value.

Purchased goodwill is amortized over its estimated useful life of 15 years, reflecting the period over which purchased goodwill will create a benefit.

Depreciable items of property, plant and equipment are valued at acquisition cost less accumulated depreciation. Depreciation is charged on a straight-line basis over the expected useful life. Advanced payments and construction in progress are valued at acquisition or production cost. Borrowing costs are not included in production cost. If impairment is expected to be permanent, an impairment loss is recognized to reduce the value to the lower net realizable value.

Low-value assets of up to €800 are fully expensed in the year of acquisition.

With regard to financial assets, shares in affiliated companies, equity investments and securities classified as fixed assets are recognized at acquisition cost, while loans are recognized at nominal value or - if permanent impairment is expected

• at the lower net realizable value. Contingent consideration is only recognized as an increase in the carrying amount of the investment upon satisfaction of the respective condition.

Raw materials and supplies are recognized at the lower of acquisition cost or net realizable value.

Receivables and other assets are stated at nominal value. Securities classified as current assets are recognized at acquisition cost. Appropriate specific and general bad debt allowances provide for all foreseeable valuation risks.

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Translation from the German language

Cash and cash equivalents are stated at nominal value. Money market funds reported under cash on hand are valued at the lower of nominal value or quoted or market value on the reporting date and may only have a term of less than three months at the acquisition date.

Expenses recorded before the reporting date which relate to a certain period after this date are posted under prepaid expenses.

When accounting for share-based payment awards, we distinguish between cash-settled and equity-settled transactions. For both instruments, the fair value is measured at grant date and then spread evenly as remuneration expense over the period in which the employees earn an unconditional entitlement to the instruments. Cash-settled awards are remeasured at fair value at each reporting date until the award is settled. For equity-settled transactions, the recognition of expenses leads to an increase in the capital reserve, whereas expenses recognized for cash-settled transactions give rise to a liability. If the Company can choose whether to settle the awards either in cash or by providing equity instruments, we account for them as equity-settled transactions, unless there is a present obligation to settle in cash or the transaction is settled in cash. Whenever we decide to settle in cash or there is a present obligation to settle in cash, any positive difference between the amount (to be) paid in cash and the fair value at grant date is recognized as an additional expense. In accordance with international accounting rules for share-based payment transactions between group companies, we do not only account for share-based payments to employees of BioNTech SE but also for commitments to employees of subsidiaries that are fulfilled by BioNTech SE. When these beneficiaries are not employees of BioNTech SE, the expenses are recognized in other operating expenses.

Treasury shares are deducted from share capital on the face of the statements of financial position at their nominal value. The difference between the nominal value and the acquisition cost of the acquired shares is offset against the capital reserve. Expenses from the acquisition of treasury shares are recognized in expenses in the current financial year.

Tax provisions and other provisions account for all identifiable risks, uncertain liabilities and onerous contracts. They are valued at the settlement value deemed necessary according to prudent business judgment. Future price and cost increases are factored in. Other provisions with residual terms of more than one year were discounted at the average interest rates of the last seven years for their respective residual term.

The assets which serve exclusively to fulfill the long-term obligations to employees from long-term accounts and which are protected against claims asserted by all other creditors (covering assets as defined by Section 246 para. 2 sentence 2 HGB) are measured at their fair value and offset against the related liabilities. The related expenses and income from discounting and from the assets to be offset are also offset.

Foreign exchange forward contracts are not recognized as hedges pursuant to Section 254 HGB. The foreign exchange forward contracts are valued using valuation techniques which employ the use of foreign exchange spot and forward rates. Contracts with a negative value as of the reporting date are accounted for under other provisions in the statements of financial position.

Liabilities are recognized at the settlement value.

Advanced payments received in connection with research and development collaborations are recognized as deferred income and released to profit or loss over the term of the contract.

If there are differences between the carrying amounts of assets, liabilities, prepaid expenses and deferred income in the statutory accounts and their tax base which are expected to reverse in future financial years, any resulting net tax charge is recognized as a deferred tax liability in the statements of financial position. Any resulting net tax benefit may be recognized as a deferred tax asset. Tax loss carryforwards are taken into account in the calculation of deferred tax assets to the extent that they are expected to be offset within the next five years. The resulting tax charge and benefit amounts are determined using the company-specific tax rates at the time the differences reverse and are not discounted. Deferred tax assets are offset against deferred tax liabilities and the option to recognize net deferred tax assets in excess of deferred tax liabilities was not exercised. Differences between the carrying amounts of assets, liabilities and prepaid expenses and deferred income in the statutory accounts and the tax bases of tax group subsidiaries are included to the extent that BioNTech SE expects future tax charges and benefits from the reversal of temporary or quasi-permanent differences.

6

Translation from the German language

Assets and liabilities denominated in foreign currencies are translated using the mean spot rate of exchange on the reporting date. If they have residual terms of more than one year, the realization principle (Section 252 para. 1 no. 4 clause 2 HGB) and the historical cost principle (Section 253 para. 1 sentence 1 HGB) are applied.

The "thereof" items presented in the statements of profit or loss include both realized and unrealized currency translation differences.

Revenues from the sale of goods are recognized when the significant opportunities and risks of ownership have been transferred to the buyer and the amount of revenues to be recognized can be measured reliably. Revenues from services are recognized when the service is rendered. No revenue is recognized when there are significant risks involving the receipt of the consideration or the possible return of goods. All other revenues are recognized net of sales deductions such as bonuses, discounts or rebates.

For our COVID-19 collaborations, revenues are recognized on the basis of our collaboration partners' gross profit from COVID-19 vaccine sales generated in territories allocated to these partners based on marketing and distribution rights. Our territory comprises Germany and Turkey. In determining the revenues pursuant to these collaboration agreements, we are reliant on our collaboration partners for details and, to a certain extent, on estimates. As a result, the revenues pursuant to these collaboration agreements are subject to the risk that the amounts reported might differ from the actual amounts until our collaboration partners' final results are available.

Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs for which the grant is intended to compensate are expensed. Any prepayments are recognized as deferred income. As the costs in the case of grants for research and development projects are not usually incurred over time, prepayments from grants related to an expense item are recognized as other liabilities in the statements of financial position. When the grant relates to an asset, it is recognized as deferred income within the statements of financial position. Other operating income is subsequently recognized in profit or loss over the useful life of the underlying asset subject to funding.

Research and development expenses are expensed as incurred.

Based on the Organisation for Economic Co-operation and Development (OECD) Base Erosion and Profit Shifting (BEPS) project to tackle tax avoidance, the OECD/G20 Inclusive Framework (an association of about 140 countries) decided to introduce a global minimum taxation for large companies and multinational groups (known as Pillar 2). The Global Anti-Base Erosion Rules are intended to ensure that large multinational groups pay a minimum level of tax on the income arising in each jurisdiction where they operate. In December 2021, the OECD published its OECD Model Rules, which serve as a draft bill for implementation into national domestic law, followed by guidelines and commentaries published in March 2022. In December 2022, the EU adopted a corresponding directive (EU 2022/2523) that obliges EU member states to transpose the rules into national domestic law. If the effective tax rate in any jurisdiction is below the minimum rate (15%), the Group may be subject to the top-up tax or a qualified domestic minimum top-up tax.

Several jurisdictions in which the Group operates have transposed the global minimum taxation rules into national domestic law. In addition, the Group is closely following the progress of the legislative process in each country in which the Group operates. As of the reporting date, the BEPS Pillar 2 regulations (MinBestRL UmsG) had already been transposed into German law (MinStG). In accordance with the regulations that have entered into force in Germany, the Group is obliged to file top-up tax information returns for affected entities, beginning in the 2024 financial year. The Group falls within the scope of these regulations. The Group carried out an analysis as of the reporting date to determine the fundamental impact and the jurisdictions in which the Group is exposed to possible effects in connection with a minimum tax.

7

Translation from the German language

Based on this analysis, no countries were identified in which the Group would be materially affected by a minimum tax. Consequently, the average effective tax rate would not have changed if the minimum tax legislation had already been in force on the reporting date. BioNTech applies the exception in Section 274 para. 3 HGB, according to which no deferred tax assets and liabilities in connection with the income taxes of the second pillar of the OECD are recognized and no disclosures are made.

3 Notes to the Statements of Financial Position and the Statements of Profit or Loss

3.1 Intangible Assets and Property, Plant and Equipment

The development of the individual fixed asset items, including amortization, depreciation and impairment for the financial year, is shown in the statements of changes in fixed assets. The statements of changes in fixed assets are attached to these notes.

In the 2023 financial year, there were additions of €651.8 million to purchased franchises, industrial and similar rights and assets, and licenses in such rights and assets. They mainly include additions from the acquisition of licenses under license and collaboration agreements in the amount of €443.5 million and from the acquisition of intellectual property from affiliated companies in the amount of €190.4 million.

The additions to intangible assets under license and collaboration agreements resulted from payments made for the acquisition of licenses (of which €203.7 million from Duality Biologics (Suzhou) Co. Ltd., Shanghai, China, €125.2 million from OncoC4 Inc, Rockville, United States, €64.1 million from MediLink Therapeutics (Suzhou) Co. Ltd, Suzhou, China, and €50.6 million from Biotheus Inc, Zhuhai, China).

Fixed assets are amortized/depreciated on a straight-line basis over the following terms:
Amortization/depreciation period by type of		Useful life (years)
Intangible assets
Patents, industrial rights		8	- 20
Licenses		3	- 10
Goodwill			15
Software		3	- 8
Property, plant and equipment
Buildings		10	- 33
IT systems		3	- 5
IT hardware			1
Large laboratory equipment		8	- 10
Small laboratory equipment		3	- 5
Office fixtures and fittings		10	- 15

8

Translation from the German language

3.2 Financial Assets

(in millions €)	As of January 1,	Additions	Disposals	As of December 31,
2023	2023
1.	Shares in affiliated	613.4	543.1	-	1,156.5
companies
2.	Loans to affiliated	597.4	-	588.9	8.5
companies
3.	Equity investments	66.7	-	19.7	47.0
4.	Securities classified as	-	1,326.4	-	1,326.4
fixed assets
5.	Other loans	2.2	2.2	-	4.4
Total	1,279.7	1,871.7	608.6	2,542.8

Additions to shares in affiliated companies of €543.1 million were recognized in the 2023 financial year. They mainly include €490.1 million relating to the shares in InstaDeep Ltd, London, United Kingdom, which resulted from the acquisition during the year. In addition, €44.9 million related to the shares in BioNTech BioNTainer Holding GmbH, Mainz, and New Technologies Re, Luxembourg, Luxembourg, which was attributable to capital increases. The shares in InstaDeep Ltd. and BioNTech USA Holding, LLC, Cambridge, United States (€398.7 million), accounted for the bulk of the total shares in affiliated companies of €1,156.5 million.

In the 2023 financial year, the loans of the subsidiaries were rolled over and newly concluded with a term of less than one year. Disposals of €588.9 million were recorded for legacy contracts for loans to affiliated companies. New contracts are reported as short-term receivables from affiliated companies.

In the 2023 financial year, we made our first long-term investments in various securities. The closing value of the additions in the financial year was €1,326.4 million.

The closing value of other loans amounted to €4.4 million.

In the financial year, the covering assets available to offset the long-term obligations to employees from long-term accounts consisted of fixed-term deposits whose acquisition cost amounted to €6.1 million as of December 31, 2023, which corresponds to the fair value (market value on the reporting date). The assets were offset by a settlement value of the related liabilities of €4.3 million. There was a positive effect of €0.1 million on the finance result.

9