Slide 1: Analyst Presentation: Full Year 2022 Results & Corporate Update
ANALYST PRESENTATION MARCH 23, 2023 A LEADING SPECIALTY VACCINE COMPANY FULL YEAR 2022 RESULTS & CORPORATE UPDATE
Slide 2: Disclaimer
Disclaimer Valneva – FY 2022 Analyst Presentation March 23, 2023 2 This presentation does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, Valneva SE shares to any person in the USA or in any jurisdiction to whom or in which such offer or solicitation i
Slide 3: Agenda
Agenda Valneva – FY 2022 Analyst Presentation March 23, 2023 3 Introduction Business Update Financial Report FY 2022 Newsflow Q&A Financial Outlook
Slide 4: Valneva Reports Full Year 2022 Results and Provides Corporate Updates
Valneva Reports Full Year 2022 Results and Provides Corporate Updates Continued progress across R&D Pipeline ▪ Chikungunya : BLA under review ▪ Lyme disease : Phase 3 VALOR study with Pfizer ongoing ▪ COVID - 19: First full MAA by EMA; No further investments ▪ Acceleration of pre - clinical activiti
Slide 5: Agenda
Agenda Valneva – FY 2022 Analyst Presentation March 23, 2023 5 Introduction Business Update Financial Report FY 2022 Newsflow Q&A Financial Outlook
Slide 6: Most advanced Chikungunya program in development worldwide
Most advanced Chikungunya program in development worldwide VLA1553 - Live - attenuated CHIKV vaccine candidate targeting long - lasting, high sero - response with a single shot March 23, 2023 Valneva – FY 2022 Analyst Presentation 6 • Non - endemic countries: travelers / military / outbreak prepared
Slide 7: VLA1553: Clinical Highlights
VLA1553: Clinical Highlights 1,2 Key data 1 Valneva Successfully Completes Pivotal Phase 3 Trial of Single - Shot Chikungunya Vaccine Candidate . 2 Wressnigg et al, Lancet ID: https://www.thelancet.com/journals/laninf/article/PIIS1473 - 3099(20)30238 - 3/fulltext ; 3 CHIKV neutralizing antibody tite
Slide 8: VLA1553 Fits Perfectly Within our Existing Commercial Infrastructure
VLA1553 Fits Perfectly Within our Existing Commercial Infrastructure High - caliber team with significant experience in the vaccine space Commercial infrastructure established in most key travel markets; footprint extended through distribution partners Commercial infrastructure established in most k
Slide 9: Only Lyme Disease Vaccine in Advanced Clinical Development Today
Exclusive, worldwide partnership with Pfizer; terms updated in June 2022 in conjunction with Pfizer’s €90.5 ($95) million equity investment in Valneva 7 Phase 3 study initiated by Pfizer 1 supported by positive results for three Phase 2 clinical trials 2,3,4 , including first pediatric data 5 ; Tria
Slide 10: VLA15 Phase 2 clinical data
VLA15 - 221: First positive pediatric data (April 2022 1 ) ▪ Strong immunogenicity profile in adult 2 (ages 18 - 65) and pediatric participants (ages 5 - 17) ▪ More immunogenic in pediatric participants than in adults, with both two - dose and three - dose vaccination schedules; three - dose schedul
Slide 11: Advanced, Focused and Differentiated Clinical Pipeline
Advanced, Focused and Differentiated Clinical Pipeline and promising early stage targets R&D pipeline overview Program Discovery Pre - Clinical Phase 1 Phase 2 Phase 3 Commercial Next Inflection Point Development Partners R&D Portfolio VLA1553 2 : Chikungunya Potentially eligible for PRV Potential B
Slide 12: Agenda
Agenda Valneva – FY 2022 Analyst Presentation March 23, 2023 12 Introduction Business Update Financial Report FY 2022 Newsflow Q&A Financial Outlook
Slide 13: Full Year 2022 Financials: Total Revenues of €361.3 million
Full Year 2022 Financials: Total Revenues of €361.3 million Growth driven by significant increase in product sales 1 Third party products sold by Valneva, 2 YoY comparison for same period DUKORAL®, €17,3m Third party products, €26,5m IXIARO®/JESPECT®, €28,8m IXIARO®/JESPECT® U.S. Military, €12,5m VL
Slide 14: Full Year 2022 Financials: Product Sales of €114.8m
Full Year 2022 Financials: Product Sales of €114.8m Strong growth driven by recovery of travel segment and performance of 3rd - party products Valneva – FY 2022 Analyst Presentation March 23, 2023 14 * FY 2021 recalculated at constant exchange rate (CER; actual average FY 2022 exchange rates) €m (un
Slide 15: Full year 2022 Income Statement
Full year 2022 Income Statement Adjusted EBITDA of - €69.2m Valneva – FY 2022 Analyst Presentation March 23, 2023 15 1 FY 2022 Adjusted EBITDA was calculated by excluding € 74 . 1 million (FY 2021 : € 26 . 3 million) of income tax expense, finance income/expense, foreign exchange gain/(loss), result
Slide 16: Full Year 2022 Financials: Impact of COVID Program on P&L
Full Year 2022 Financials: Impact of COVID - 19 Program on P&L COVID - 19 reported as separate segment as of 2021 Valneva – FY 2022 Analyst Presentation March 23, 2023 16 1 FY 2022 Adjusted EBITDA was calculated by excluding €74.1 million of income tax expense, finance income/expense, foreign exchan
Slide 17: Full Year 2022 Financials: Balance Sheet 2021/2022
Full Year 2022 Financials: Balance Sheet 2021/2022 Net assets impacted by COVID write - downs Valneva – FY 2022 Analyst Presentation March 23, 2023 17 €m (2022 audited) December 31st, 2022 December 31st, 2021 NON - CURRENT ASSETS 196.7 231.5 - Property, Plant & Equipment 112.4 125.5 - Other Non - cu
Slide 18: Full Year 2022 Financials: Balance Sheet 2021/2022 (cont.)
Full Year 2022 Financials: Balance Sheet 2021/2022 (cont.) Liabilities and equity impacted by COVID/Lyme contracts and public offering Valneva – FY 2022 Analyst Presentation March 23, 2023 18 €m (2022 audited) December 31st, 2022 December 31st, 2021 EQUITY 219.8 170.6 NON - CURRENT LIABILITIES 124.2
Slide 19: Agenda
Agenda Valneva – FY 2022 Analyst Presentation March 23, 2023 19 Introduction Business Update Financial Report FY 2022 Newsflow Q&A Financial Outlook
Slide 20: Valneva 2023 Financial Guidance
Valneva 2023 Financial Guidance Substantial growth expected from anticipated COVID business Valneva – FY 2022 Analyst Presentation March 23, 2023 20 Total revenues and other income expected between €220 to €260 million, including: • €130 to €150 million of product sales, including marginal COVID - 1
Slide 21: Agenda
Agenda Valneva – FY 2022 Analyst Presentation March 23, 2023 21 Introduction Business Update Financial Report FY 2022 Newsflow Q&A Financial Outlook
Slide 22: Key Upcoming Catalysts and News Flow in 2023
Key Upcoming Catalysts and News Flow in 2023 Valneva – FY 2022 Analyst Presentation March 23, 2023 22 Chikungunya vaccine candidate VLA1553 ▪ First adolescent study results mid - 2023 ▪ Potential BLA approval and first launch, Potential PRV sale ▪ Additional ex - U.S. regulatory submissions in H2 Ly
Slide 23: Valneva is Poised for Substantial Growth
Valneva is Poised for Substantial Growth Led by potential new product launches Additional potential growth drivers: ▪ Continued recovery of travel market to pre - COVID levels and beyond ▪ New U.S. DoD contract for IXIARO ® expected 2023 ▪ Further expansion of 3 rd - party distribution segment ▪ Pot
Slide 24: Thank you
Thank you Merci Danke Tack