Slide 1: Corporate Presentation
Corporate Presentation February 24, 2026
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements related to the potential benefits of Vaxcyte’s carrier-sparing platform and vaccin
Slide 3: Vaxcyte Mission Statement
VAXCYTE MISSION STATEMENT We are on a global mission to engineer high- fidelity vaccines that protect humankind from the consequences of bacterial diseases. February 24, 2026 3
Slide 4: Highlights: Potential Best-in-Class Pneumococcal Conjugate Vaccine (PCV) Franchise
Highlights: Potential Best-in-Class Pneumococcal Conjugate Vaccine (PCV) Franchise VAX-31 OPUS-1 Phase 3, Noninferiority Trial Designed to Establish Fulsome Coverage for Adults is Underway POTENTIAL BEST-IN-CLASS HIGHLY ATTRACTIVE EXCLUSIVE CELL-FREE ALIGNED CRITICAL PCV FRANCHISE PCV MARKET PLATFOR
Slide 5: Cell-Free Protein Synthesis Platform Unlocks Multiple Vaccine Applications
Cell-Free Protein Synthesis Platform Unlocks Multiple Vaccine Applications Facilitates Design and Production of Proteins Beyond the Reach of Conventional Methods VAXCYTE CELL-FREE SPEED, FLEXIBILITY, SUPERIOR CONJUGATE NOVEL PROTEIN PROTEIN SYNTHESIS PLATFORM: XpressCF SCALABILITY VACCINES VACCINES
Slide 6: Pipeline of High-Fidelity Vaccines with Multiple Near-Term Milestones
Pipeline of High-Fidelity Vaccines with Multiple Near-Term Milestones Broad-Spectrum Conjugate and Novel Protein Vaccines to Prevent Bacterial Infectious Diseases Preclinical Phase 1 Phase 2 Phase 3 Approved Anticipated 2026 and 2027 Key Milestones¹ 31-Valent Adults VAX-31 ADULT INDICATION VAX-31 In
Slide 7: Experienced Management Team with Track Record in Vaccines and Biopharma
Experienced Management Team with Track Record in Vaccines and Biopharma Grant Pickering, MBA Andrew Guggenhime, MBA Jim Wassil, MS, MBA Mike Mullette, MBA Chief Executive Officer President Executive VP Chief Commercial Officer & Co-Founder & Chief Financial Officer & Chief Operating Officer Chris Gr
Slide 8: PCV Opportunity
PCV Opportunity VAXCYTE
Slide 9: Global Health Impact of Pneumococcal Disease Remains Significant
Global Health Impact of Pneumococcal Disease Remains Significant ABOUT STREPTOCOCCUS CURRENT ~$8 BILLION GLOBAL INCIDENCE & IMPACT PNEUMONIAE GLOBAL VACCINE CATEGORY OF PD STILL SUBSTANTIAL Streptococcus pneumoniae is the Vaccinations are recommended globally for infants Global pneumococcal disease
Slide 10: Serotype Replacement Drives Need for Broader-Spectrum Vaccines
Serotype Replacement Drives Need for Broader-Spectrum Vaccines Non-Vaccine Serotypes Increase in Prevalence, as Circulation of Vaccine Serotypes is Eliminated, Resulting in the Need for Broader-Spectrum Vaccines UK IPD CASES IN ADULTS > 651 30 Prevnar 13 Types Non-vaccine Types 25 Residual disease d
Slide 11: Limitations of Current PCVs
Limitations of Current PCVs Coverage Expansion Needed to Address Circulating Disease, but Protein Carrier Backbone Problematic LIMITATIONS OF CONVENTIONAL PROTEIN CARRIER DIVERTS IMMUNE RESPONSE 90 CHEMISTRY Protein Carrier (mcg) Discrete Pneumococcal Polysaccharides (ug) 84 • Random conjugation mas
Slide 12: Limitations of Current PCVs: Adding Conjugates Results in Lower Ab Titers
Limitations of Current PCVs: Adding Conjugates Results in Lower Ab Titers Coverage Expansion Using Conventional Chemistry Has Led to Carrier-Induced Immune Suppression CARRIER SUPPRESSION Diminished immune response to target polysaccharides due to cumulative amount of protein carrier • Expanded spec
Slide 13: Vaxcyte’s PCV Franchise Employs Carrier-Sparing Conjugates
Vaxcyte’s PCV Franchise Employs Carrier-Sparing Conjugates Cell-Free Platform Enables Precise Conjugation to Enhance Potency of Standard Protein Carrier PROPRIETARY eCRM® PROTEIN CARRIER WITH VAXCYTE CARRIER-SPARING CONJUGATES PRECISE, SITE-SPECIFIC CONJUGATION SITES MIMIC THE CUSTOMARY MATRIX FORM
Slide 14: Vaxcyte PCV Franchise Design Leverages Many Standard PCV Conventions
Vaxcyte PCV Franchise Design Leverages Many Standard PCV Conventions Utilizes Proven Components, Chemistries and Assays to Reduce Risk and Uncertainty Polysaccharide Protein Carrier Assays Random Site-Specific CQA Serological CDAP / Periodate Amination for Incorporation of Lysine Click Chemistry Rel
Slide 15: Vaxcyte’s PCV Franchise Has More Fulsome Coverage Versus On-Market PCVs
Vaxcyte’s PCV Franchise Has More Fulsome Coverage Versus On-Market PCVs Pneumococcal Vaccines Represent One of the Largest Segments of Global Vaccine Market, with Significant Growth Expected¹ VAX-31: 31-valent PCV, the broadest-spectrum PCV in the clinic, designed to cover both currently circulating
Slide 16: Pneumococcal Vaccine Market is Highly Attractive
Pneumococcal Vaccine Market is Highly Attractive Vaxcyte’s PCV Franchise Has the Potential to Be Best-in-Class Due to Broader Coverage and Improved Immunogenicity PNEUMOCOCCAL VACCINE MARKET DYNAMICS SEROTYPE & DISEASE COVERAGE ADVANTAGE IS PRIMARY DRIVER OF U.S. PCVs ARE HIGHLY EFFECTIVE DURABLE &
Slide 17: Pneumococcal Vaccine Market Poised for Significant Growth
Pneumococcal Vaccine Market Poised for Significant Growth $8B Market With Expected Growth Driven Primarily by Adult Market Expansion Pediatric Market Highly Penetrated; S IVER Significant Growth Opportunity in Adult Segment PCV recommendation expanded to U.S. adults 50+ (from 65+)¹ T H D R T SEGMENT
Slide 18: Recent Burst of Adult PCV Recommendations Outside the U.S.
Recent Burst of Adult PCV Recommendations Outside the U.S. Serotype Epidemiology, Broad-Valency PCVs Driving New Recommendations and Shift from PPSV23 to PCVs Expanded Licensure of broader-spectrum PCVs is driving Global Adult PCV Adoption adult universal recommendations internationally Japan Switze
Slide 19: Establishing Manufacturing Capacity, Robust Supply Chain to Support Expected VAX-31
Establishing Manufacturing Capacity, Robust Supply Chain to Support Expected VAX-31 Adult U.S. Launch, Followed by U.S. Infant and Global Adult and Infant PCV Launches Global Commercial Manufacturing U.S. Fill-Finish Manufacturing Agreement with Lonza Agreement with Thermo Fisher • Relationship enco
Slide 20: VAX-31 Adult Clinical Program
New slide/format VAX-31 Adult Clinical Program
Slide 21: VAX-31 Designed to Expand Protection with Broadest Disease Coverage in Adults
VAX-31 Designed to Expand Protection with Broadest Disease Coverage in Adults Percentage of IPD and Non-Bacteremic Pneumococcal Pneumonia Covered by PCVs in U.S. Adults IPD1 ≥50 years Pneumococcal Pneumonia2 ≥50 years 100% 95% 100% 90% 90% 88% 81% 80% 80% 69% 70% 70% 61% 60% 60% 57% 50% 47% 50% 44%
Slide 22: VAX-31 Designed to Provide Comprehensive Coverage, While Maintaining or Improving Immune Responses
VAX-31 is Designed to Provide Comprehensive Coverage, While Maintaining or Improving Immune Responses, Relative to Today’s SoC that Only Provides Partial Coverage Next Generation PCV Designed to Cover ~95% of IPD and ~88% of Pneumococcal Pneumonia in U.S. Adults Aged 50+ with Potential to Provide an
Slide 23: VAX-31 Adult Phase 3 Program
VAX-31 Adult Phase 3 Program February 24, 2026 23
Slide 24: VAX-31 OPUS Phase 3 Adult Program Overview
VAX-31 OPUS Phase 3 Adult Program Overview Studies Enrolling Subjects and Designed to Support Potential BLA Filing (Combined Subject Enrollment: n~6,000) VAX-31 PHASE 3 STUDIES¹ ANTICIPATED TIMING² 2025 2026 2027 OPUS-1: Pivotal, Noninferiority Trial Enrollment Announce Underway Topline Data³: ~3,56
Slide 25: OPUS-1 Phase 3 Noninferiority Trial Evaluating VAX-31
OPUS-1 Phase 3 Noninferiority Trial Evaluating VAX-31 for the Prevention of Invasive Pneumococcal Disease and Pneumonia in Adults (n~4,000) Study Designed to Establish New Standard for Adult PCVs Through Head-to-Head Safety, Tolerability and Immunogenicity Comparisons of VAX-311 with PCV21 and PCV20
Slide 26: OPUS-1 Phase 3 Clinical Trial Key Objectives
OPUS-1 Phase 3 Pivotal Noninferiority Trial Key Objectives Expected to Serve as Cornerstone of BLA Package for Potential Licensure in Adults VAX-31 IMMUNOGENICITY STUDY OBJECTIVES EVALUATION CRITERIA • Noninferiority compared with PCV21 and/or PCV20 for the 28 serotypes (STs) shared with either or >
Slide 27: OPA GMR Responses for VAX-31 (Phase 2) and PCV21 (Phase 3) vs PCV20
OPA GMR Responses for VAX-31 (Phase 2) and PCV21 (Phase 3) vs PCV20 VAX-31 GMRs Higher on 18 of 20 Common STs and 7 STs Achieved Statistically Higher Immune Responses¹ VAX-31 HIGH DOSE PHASE 2 NI STUDY VS PCV20: PCV21 PHASE 3 PIVOTAL NI STUDY VS PCV20: 20 Common STs (OPA GMRs) 10 Common STs (OPA GMR
Slide 28: OPUS-2 Phase 3 Clinical Trial Evaluating VAX-31 Concomitantly Administered
OPUS-2 Phase 3 Clinical Trial Evaluating VAX-31 Concomitantly Administered with Seasonal Influenza Vaccine (n~1,300) Descriptive Study Evaluating Safety, Tolerability and Immunogenicity of VAX-31¹ when Administered Either Concomitantly with or One Month Following Administration of a Licensed Seasona
Slide 29: OPUS-3 Phase 3 Clinical Trial Evaluating VAX-31 in Previously Vaccinated Adults
OPUS-3 Phase 3 Clinical Trial Evaluating VAX-31 in Healthy Adults Who Have Previously Received a Pneumococcal Vaccine (n~720) Descriptive Study Evaluating Safety, Tolerability and Immunogenicity of a Single Dose Of VAX-31¹ in Healthy U.S. Adults Aged 50 Years and Older with a History of Prior Pneumo
Slide 30: OPUS-2 and OPUS-3 Phase 3 Clinical Trial Key Objectives
OPUS-2 and OPUS-3 Phase 3 Clinical Trial Key Objectives Descriptive Phase 3 Studies Designed to Demonstrate VAX-31’s Performance in Real-World Adult Use OPUS-2: PHASE 3 TRIAL EVALUATING VAX-31 CONCOMITANTLY ADMINISTERED WITH SEASONAL INFLUENZA VACCINE • Primary Objective: Assessing serotype-specific
Slide 31: Overview: VAX-31 Adult Phase 1/2 Study Results
Overview: VAX-31 Adult Phase 1/2 Study Results February 24, 2026 31
Slide 32: Summary of VAX-31 Adult 50+ Phase 1/2 Study Topline Data Findings
Summary of VAX-31 Adult 50+ Phase 1/2 Study Topline Data Findings Unprecedented Results Support Potential Best-in-Class PCV With Broadest Serotype and Disease Coverage Overall study results positive and met objectives Well tolerated, demonstrating a safety profile similar to PCV20 At all doses studi
Slide 33: VAX-31 Induced Robust Immune Responses for All 20 Common STs
VAX-31 Induced Robust Immune Responses for All 20 Common STs Middle and High Doses Met OPA Response Noninferiority Criteria for All 20 Common STs Compared to PCV20 VAX-31 Low Dose VAX-31 Middle Dose VAX-31 High Dose¹ 1 1 1 3 3 3 4 4 4 5 5 5 6A 6A 6A 6B 6B 6B 7F 8 7F 8 7F 8 * 9V 10A * 9V 10A * 9V 10A
Slide 34: VAX-31 Induced Robust Immune Responses for All Incremental STs
VAX-31 Induced Robust Immune Responses for All 11 Incremental STs All Three Doses Met Superiority Criteria for All Incremental STs Compared to PCV20 100% VAX-31 Low Dose 100% VAX-31 Middle Dose 100% VAX-31 High Dose¹ 90% % difference with a > 4-fold 90% 90% OPA titer increase (95% CI) 80% 80% 80% 70
Slide 35: VAX-31 Full Six-Month Safety Data Similar to PCV20 and Across Cohorts
VAX-31 Full Six-Month Safety Data Similar to PCV20 and Across Cohorts VAX-31 VAX-31 VAX-31 PCV20 Low Dose Middle Dose High Dose¹ NUMBER OF SUBJECTS WITH: 255 254 253 253 Unsolicited TEAE, n (%) 42 (16.5) 43 (16.9) 47 (18.6) 42 (16.6) Related Unsolicited TEAE, n (%) 7 (2.7) 11 (4.3) 17 (6.7) 12 (4.7)
Slide 36: PCV Infant Clinical Program
PCV Infant Clinical Program VAXCYTE
Slide 37: VAX-31 Designed to Expand Protection with Broadest Disease Coverage in Children
VAX-31 Designed to Expand Protection with Broadest Disease Coverage in Children Percentage of IPD and Pneumococcal Acute Otitis Media Covered by PCVs in U.S. Children IPD1 <5 years Pneumococcal Acute Otitis Media2 <5 years 100% 100% 96% 92% 90% 90% 80% 80% 70% 69% 70% 61% 60% 60% 50% 48% 50% 40% 40%
Slide 38: VAX-31 Designed to Deliver Broadest Coverage in Infants, Including ~92% of IPD
VAX-31 Designed to Deliver Broadest Disease and Serotype Coverage in Infants, Including ~92% of Invasive Pneumococcal Disease (IPD) in U.S. Children¹ VAX-31’s UNIQUE 11 STs: Across multiple adult and infant studies, Vaxcyte’s PCVs have shown strong immune responses across all incremental STs relativ
Slide 39: VAX-31 Designed to Deliver Broadest Coverage in Infants, Including ~96% of AOM
VAX-31 Designed to Deliver Broadest Disease and Serotype Coverage in Infants, Including ~96% of Pneumococcal Acute Otitis Media (AOM) in U.S. Children¹ VAX-31’s UNIQUE STs VS STANDARD-OF-CARE INFANT PCVs: Potential to Provide 35-62% Increase in AOM Coverage Compared to Current Standards-of-Care Infa
Slide 40: Healthcare Providers Confirm: Broader Coverage Wins in PCV Selection
Healthcare Providers Confirm: Broader Coverage Wins in PCV Selection U.S. pediatric and family medicine providers overwhelmingly favor broader-coverage PCVs and would take action to expand protection for infants.¹ BROAD PROTECTION PROVIDERS WOULD WILLINGNESS TO OTITIS MEDIA DRIVES HCP ADOPTION SWITC
Slide 41: VAX-24 Infant Phase 2 Dose-Finding Study Final Results
VAX-24 Infant Phase 2 Dose-Finding Study Final Results February 24, 2026 41
Slide 42: Final VAX-24 Phase 2 Infant Study Results and Platform Demonstrate Potential
Final VAX-24 Phase 2 Infant Study Results and Platform Demonstrate Potential to Achieve Broadest Coverage of Any Infant PCV On-Market Overall study results positive and met objectives Well tolerated, demonstrating a safety profile similar to PCV20 VAX-24 elicited substantial IgG, OPA and memory resp
Slide 43: VAX-24 Infant Phase 2 Dose-Finding Clinical Study (N=803)
VAX-24 Infant Phase 2 Dose-Finding Clinical Study (N=803) Randomized, Observer-Blind, Active-Controlled, Dose-Finding, Clinical Study to Evaluate Safety, Tolerability and Immunogenicity of VAX-24 vs. Standard-of-Care (PCV20) in 803 Healthy Infants All 36 VAX-24 subjects from Stage 1 proceeded to Sta
Slide 44: Three VAX-24 Doses Evaluated in Infant Phase 2 Dose-Finding Study
Three VAX-24 Doses Evaluated in Infant Phase 2 Dose-Finding Study Identical to Doses Evaluated in VAX-24 Adult Program 14.5% 13.8% 13.1% % of IPD 9.7% in U.S. children 6.2% 4.8% <5 yrs of age1 3.5% 1.4% 0.7% 0.7% 0.7% 1.4% 1.4% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3 19F 15B2 22F 33
Slide 45: Final 6-Month Safety Data from VAX-24 Phase 2 Study
Final 6-Month Safety Data from VAX-24 Phase 2 Study Safety Results Similar to PCV20 and Across Cohorts VAX-24 VAX-24 VAX-24 PCV20 Low Dose Mid Dose Mixed Dose NUMBER OF SUBJECTS 195 186 191 185 Unsolicited TEAE, n (%) 167 (85.6) 161 (86.6) 163 (85.3) 169 (91.4) Related Unsolicited TEAE, n (%) 6 (3.1
Slide 46: Final Post-Dose 3 (PD3) IgG and OPA Immunogenicity Data Results
Final Post-Dose 3 (PD3) IgG and OPA Immunogenicity Data Results February 24, 2026 46
Slide 47: VAX-24 PD3 Seroconversion Rates Compared to PCV20
POST-DOSE 3 RESULTS VAX-24 PD3 Seroconversion Rates Compared to PCV20 Met Precedent Phase 2 Noninferiority Criteria for 20 of 24 STs at Low and Mid Doses and 19 of 24 STs at Mixed Dose VAX-24 vs. PCV20: Difference in % of Subjects Meeting Predefined IgG Levels2 % of IPD in U.S. children <5 yrs of ag
Slide 48: VAX-24 PD3 OPA GMT Immune Responses
POST-DOSE 3 RESULTS VAX-24 PD3 OPA GMT Immune Responses Demonstrated Robust OPA Titers, Generally Consistent with IgG Responses 100000 VAX-24 Low Dose VAX-24 Mid Dose VAX-24 Mixed Dose 10000 PCV 20 OPA GMTs (95% CI) 1000 100 10 1 19F 22F 33F 7F 12F 23F 17F 15B 11A 10A 19A 18C 6B 6A 9N 20B 3 4 8 14 5
Slide 49: Final Post-Dose 4 (PD4) IgG and OPA Immunogenicity Data Results
Final Post-Dose 4 (PD4) IgG and OPA Immunogenicity Data Results February 24, 2026 49
Slide 50: VAX-24 Demonstrated High Overall Seroconversion Rates Across All Doses PD4
POST-DOSE 4 RESULTS VAX-24 Demonstrated High Overall Seroconversion Rates Across All Doses PD4 VAX-24 Low Dose VAX-24 Mid Dose VAX-24 Mixed Dose PCV20 100 % of subjects with predefined IgG levels (>0.35mcg/mL) 80 60 40 20 0 14 9N 20C 33F 8 1 2 15B 11A 10A 19A 18C 19F 22F 7F 12F 23F 17F 9V 3 4 5 6B 6
Slide 51: VAX-24 PD4 IgG GMRs Compared to PCV20
POST-DOSE 4 RESULTS VAX-24 PD4 IgG GMRs Compared to PCV20 Met Target Ph2 Noninferiority Criteria for Point Estimate of >0.6 on 19 of 24 STs at Mixed Dose and 18 of 24 STs at Mid Dose % of IPD in U.S. children IgG Geometric Mean Ratios for VAX-24 vs. PCV202 <5 yrs of age1 VAX-24 Low Dose (1.1mcg) VAX
Slide 52: VAX-24 PD4 OPA GMT Immune Responses
POST-DOSE 4 RESULTS VAX-24 PD4 OPA GMT Immune Responses Demonstrated Robust OPA Titers, Generally Consistent with IgG Responses 100000 VAX-24 Low Dose VAX-24 Mid Dose VAX-24 Mixed Dose 10000 PCV 20 OPA GMTs (95% CI) 1000 100 10 1 19F 22F 33F 7F 12F 23F 17F 15B 11A 10A 19A 18C 6B 6A 9N 20B 3 4 8 14 5
Slide 53: VAX-24 Demonstrated Robust Memory Responses Pre- vs Post-Dose 4 IgG GMCs
VAX-24 Demonstrated Robust Memory Responses Pre- vs Post-Dose 4 IgG GMCs VAX-24 Mid Dose Pre-Dose 4 VAX-24 Mid Dose Post-Dose 4 15 IgG GMCs mcg/mLs (95% CI) 10 5 0 19F 22F 33F 7F 12F 23F 15B 11A 10A 19A 18C 6B 6A 9N 20C 3 4 8 14 5 1 9V 17F 2 Serotypes Contained in PCV20 Non-PCV20 Serotypes 15C cover
Slide 54: Expanded Analysis of Concomitant Flu Vaccination & Dose-Dependent Immune Responses
Expanded Analysis of Concomitant Flu Vaccination & Dose-Dependent Immune Responses February 24, 2026 54
Slide 55: VAX-24 PD4 IgG GMRs Compared to PCV20 Including Subjects Who Received Flu Vaccination
POST-DOSE 4 RESULTS VAX-24 PD4 IgG GMRs Compared to PCV20 Including Subjects Who Received Flu Vaccination Consistently Improved Immunogenicity Responses Evidenced in Mid Dose IgG Geometric Mean Ratios for VAX-24 vs. PCV20 Population: 1 - IEP4 11A - IEP4 1 - IEP4 + Flu Immunogenicity Evaluable 11A -
Slide 56: Dose Response Evidenced PD4 Across Most Serotypes
POST-DOSE 4 RESULTS Dose Response Evidenced PD4 Across Most Serotypes Supports Dosing Strategy for Ongoing VAX-31 Infant Phase 2 Study DOSE-DEPENDENT IMMUNOGENICITY LITTLE TO NO CARRIER SUPPRESSION EVIDENCED BY OBSERVED ACROSS DOSE RANGE1 SIMILAR PERFORMANCE ACROSS DIFFERENT LEVELS OF PROTEIN CARRIE
Slide 57: VAX-31 Infant Clinical Program
VAX-31 Infant Clinical Program
Slide 58: Enrollment Completed in VAX-31 Infant Phase 2 Study
Enrollment Completed in VAX-31 Infant Phase 2 Study 3-Stage, Dose-Finding Study Evaluating Safety, Tolerability and Immunogenicity vs PCV20 in 900 Participants Stage 1: Dose Escalation (n=48) Stages 2 & 3: Main Study (n=900*) VAX-31 Stage 3: VAX-31 Optimized Dose (4.4mcg/3.3mcg) High Dose End Stage
Slide 59: Study Safety, Tolerability and Immunogenicity Key Outcome Measures
Study Safety, Tolerability and Immunogenicity Key Outcome Measures DAY 7 AFTER EACH DOSE 1 MONTH POST-DOSE 3 1 MONTH POST-DOSE 4 6 MONTHS POST-DOSE 4 • Solicited local reactions • Unsolicited adverse events (AE) • SAE, NOCI and MAAE • SAE, NOCI and MAAE SAFETY AND • Solicited systemic events • Serio
Slide 60: Non-PCV Pipeline
New slide/format Non-PCV Pipeline
Slide 61: Initiation of Phase 1 Adult Clinical Study for VAX-A1, Group A Strep Vaccine
Initiation of Phase 1 Adult Clinical Study for VAX-A1, a Vaccine Candidate to Prevent Group A Strep, Expected in 2026¹ Phase 1 Adult Study Includes Primary Objective of Assessing Safety and Tolerability of VAX-A1, a Novel Conjugate Vaccine Designed to Deliver Universal Protection Against a High-Prio
Slide 62: VAX-GI: Shigella Vaccine Program
VAX-GI: Shigella Vaccine Program Novel Shigella Vaccine to Prevent Widespread Global Morbidity & Mortality, Particularly in Children UNMET • Shigella is a bacterial illness with no available preventative treatment NEED • Estimated to cause 80-165 million cases of disease and 600,000 deaths annually,
Slide 63: Key Corporate Highlights
Key Corporate Highlights Large Market Opportunity for Broadest-Spectrum PCV Cell-Free Protein Synthesis Enabled Pipeline Aligned Critical Commercial Manufacturing and Supply Chain Resources Robust Pipeline with Multiple Novel Vaccines February 24, 2026 63
Slide 64: Appendix
Appendix February 24, 2026 64
Slide 65: Spectrum of Coverage Drives Adoption in PCV Segment
Spectrum of Coverage Drives Adoption in PCV Segment VAX-31 Designed to Increase Coverage to ~95% of IPD Circulating in U.S. Adults 20.00% 18.75% 18.00% VAX-31: 16.00% • Positioned to provide unrivaled IPD coverage as the broadest-spectrum PCV to enter U.S. clinics; designed to increase coverage to a
Slide 66: Spectrum of Coverage Drives Adoption in Vital Pediatric Population
Spectrum of Coverage Drives Adoption in Vital Pediatric Population Pediatric Segment Represents Majority of ~$8B Pneumococcal Vaccine Market VAX-24: Broadest-spectrum profile designed to cover more serotypes than any pediatric pneumococcal vaccine on- 16.00% 14.48% market today. 14.00% 13.79% 13.10%
Slide 67: On-Market PCVs Elicit Antibodies for Disease Protection With Range of Results
On-Market PCVs Elicit Antibodies for Disease Protection With Range of Results Serotype 3 (ST3) Conjugate Elicits Weakest Antibody Response Among All Conjugates KEY FACTORS DETERMINE WHY ST3 REQUIRES HIGHER LEVEL OF PROTECTIVE ANTIBODY PCV20 ² Thick Polysaccharide Capsule: forms a robust physical 100
Slide 68: Contact
Contact: Jeff Macdonald, Executive Director, Investor Relations investors@vaxcyte.com