Moderna : 2Q 2022 Earnings Call Presentation

Second Quarter

2022 Financial

Results

August 3rd, 2022

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Forward-looking statements and disclaimer

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: anticipated sales, including the timing of sales, under advance purchase agreements in 2022 and the

associated dollar amounts to be received, which should not be construed as expected 2022 revenue; the timing of data from proof-of- concept studies in rare diseases and immuno-oncology; the repurchase by Moderna of shares of its common stock under its repurchase programs; the ability of mRNA-1273.214 to induce higher neutralizing antibody titers against Omicron subvariants BA.4/5 when compared to the currently authorized booster; COVID market dynamics and Moderna's ability to meet market needs for fall booster season and the timing

for deliveries of fall boosters; potential accelerated approval of mRNA-1010 (flu); the timing of the Company's Phase 1 trial of its combination COVID + flu + RSV vaccine candidate; the ability of the Moderna COVID-19 Vaccine to provide protection against COVID-19 over time,

including against evolving variants of concern; Moderna's expectations regarding the evolution of SARS-CoV-2 and the timing for a transition into an endemic phase; Moderna's preparations for commercial sales in 2023; capital allocation; Moderna's 2022 financial framework; Moderna's global public health strategy; and Moderna's goal to achieve net-zero carbon emissions globally by 2030. In some cases, forward-looking statements can be identified by terminology such as "will," "may," "should," "could," "expects," "intends," "plans," "aims,"

"anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this presentation are neither promises nor

guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading "Risk Factors" in Moderna's Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022, each filed with the U.S. Securities and Exchange

Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC's website at www.sec .gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements

contained in this presentation in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna's current expectations and speak only as of the date of this presentation.

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2Q22 earnings call agenda

1. Business Review - Stéphane Bancel, CEO
2. Spikevax® COVID-19 Vaccine - Paul Burton, M.D., Ph.D., CMO
3. R&D/Clinical Programs - Stephen Hoge, M.D., President
4. Commercial Market - Arpa Garay, CCO
5. Financials - David Meline, CFO
6. Looking Forward - Stéphane Bancel, CEO

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Financial highlights 2Q22

Second quarter 2022 GAAP financial results

• Revenue: $4.7 billion (+9% YoY)
• Net income: $2.2 billion (-21% YoY)
• Continued reduction in shares outstanding in 2Q22
• • 2Q22: Repurchased 9 million shares for $1.3 billion (average price of $142)
  • Total of 18 million shares repurchased since first share repurchase program initially put in place in 2021 (4Q21 to 08/02/22)

2022 outlook

• Reiterating advance purchase agreements for expected delivery in 2022 of ~$21 billion
• Announcing new share repurchase program for an additional $3 billion

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Business updates and pipeline advances

COVID Booster Commercial

Updates

• New supply contract with the U.S. government for 70 million doses (option for 4 million pediatric doses exercised) with options to purchase an additional 230 million doses
• Canada and UK exercised options for 2H22 (now included in $21 billion 2022 APAs)

Pipeline Advances

• Four programs in Phase 3
• Flu (mRNA-1010) Phase 3 immunogenecity study started
• Flu (mRNA-1020/-30) Phase 1/2 trial fully enrolled
• COVID + Flu Phase 1/2 trial fully enrolled
• Open IND for checkpoint vaccine program
• First patient dosed in GSDA1 program

Spikevax Adolescent/

Pediatric Authorizations

• Authorization received from the U.S. FDA (6 months to 17 years old)
• Health Canada authorization and Therapeutics Goods Administration (Australia) conditional approval received (6 months to 5 years)

Data Readouts from Proof-of-

Concept Studies in 2H22

• Phase 1/2 data from propionic acidemia (PA) program expected in '22
• Phase 2, randomized, data from personalized cancer vaccine (PCV) program expected in 4Q22

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