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Valneva — Investor Presentation (September 2026)
28 slides from Valneva's investor presentation, September 2026
Slide 1: A Leading Specialty Vaccine Company
A Leading Specialty Vaccine Company September 2026
Slide 2: Disclaimer
Disclaimer This presentation does not contain or constitute an offer of, or the solicitation of an offer Certain information and statements included in this presentation are not historical facts to buy or subscribe for, Valneva SE shares to any person in the USA or in any jurisdiction to but are for
Slide 3: A Leading Specialty Vaccine Company
Cash-Generating Specialty Vaccines Business: Proprietary travel vaccines: IXIARO®, DUKORAL®, IXCHIQ® A Leading Specialty Vaccine Company: Blockbuster Opportunity: Lyme disease vaccine partnered with Pfizer showed strong efficacy in Phase 3; Focused on vaccines that Regulatory submission validated by
Slide 4: Our Strategy as a Leading Vaccine Biotech Company
Our Strategy as a Leading Vaccine Biotech Company Contributing to a world in which no one dies or suffers from a vaccine preventable disease Fully Leverage … Maximize Integrated Biotech Drive R&D Upside Model Commercial Growth Augment clinical pipeline to achieve Create value with proven R&D Provide
Slide 5: Proprietary Commercial Portfolio of Differentiated Vaccines
Proprietary Commercial Portfolio of Differentiated Vaccines Differentiated vaccines Brand Indication Differentiation Key Markets Valneva direct markets: US, CA, UK, Only vaccine approved in U.S./Europe FR, Nordics, BE, NL, AT Active immunization against Japanese Requirement for U.S. military encepha
Slide 6: Vaccine Sales Fuel Strategic Investments into R&D
Vaccine Sales Fuel Strategic Investments into R&D Focus on proprietary vaccines expected to drive revenue quality, margin expansion with strategic reduction in third-party product (3PP) sales1 Lean and Efficient € 163m € 135m – € 150m2 Commercial Infrastructure € 158m IXCHIQ® Highly experienced team
Slide 7: Valneva's Current R&D Portfolio
Valneva’s Current R&D Portfolio Program Design/Description Pre-Clinical Phase 1 Phase 2 Phase 3 World’s most clinically advanced LB6V / VLA15: Lyme vaccine candidate; protein Lyme disease subunit-based Clinical VLA1553: Post-marketing efficacy studies Programs Chikungunya underway; live-attenuated v
Slide 8: LB6V / VLA15 World's Leading Lyme Disease Vaccine Candidate
LB6V / VLA15 World’s leading Lyme Disease Vaccine Candidate
Slide 9: Lyme Disease Represents A Major Medical Need And Market Opportunity
Lyme Disease Represents A Major Medical Need And Market Opportunity No vaccine is currently available to prevent Lyme disease in humans Commercial Opportunity Annual Burden of Disease U.S. : ~476K cases Europe : >132K cases Severe Manifestations3 10-30% cases develop • Lyme carditis • Lyme neuroborr
Slide 10: Lyme Disease Incidence in United States
Lyme Disease Incidence in United States 2002 2012 2022 Focal areas of high incidence Expansion of high incidence Continued expansion of high (>10 cases/100,000 persons) in areas northward towards incidence areas, particularly the northeast and central Canada and southward into expansion into neighbo
Slide 11: Average national incidence of Lyme borreliosis in Europe, 2015-2023
Average national incidence of Lyme borreliosis in the most recent three-year period* in Europe, 2015-2023 Alexander Davidson et al., Lyme Borreliosis Incidence Across Europe, 2015–2023: A Surveillance-Based Review and Analysis, Vector-Borne and Zoonotic Diseases (2025) *Most recent three-year period
Slide 12: World's Leading Vaccine Candidate Against Lyme Disease
World’s Leading Vaccine Candidate Against Lyme Disease The only Lyme disease program in advanced clinical development today Vaccine Market Key Highlights Opportunity Milestones Multivalent, recombinant proteins Exclusive, worldwide Reported strong efficacy in partnership1 Phase 3 trial with no safet
Slide 13: Phase 3: Randomized Placebo-Controlled Field Efficacy Study
Phase 3: Randomized Placebo-Controlled Field Efficacy Study Tick Season 2023 Tick Season 2024 Tick Season 2025 VLA15 Cohort 1 Placebo Topline Month 0 2 5-9 6-10 13 18 19 25 Efficacy Primary series Booster Read-out VLA15 Cohort 2 Placebo Month 0 2 5-9 6-10 13 18 19 25 Primary series Booster Populatio
Slide 14: LB6V Demonstrates Strong Efficacy in Phase 3
LB6V (formerly VLA15) Demonstrates Strong Efficacy in Phase 31 Results strengthen confidence – MAA validated by EMA2; regulatory decisions expected in the next 12 months3 Vaccine Efficacy Safety Pre-specified Analysis Vaccine candidate was well tolerated Efficacy (95% CI) (Season 2) From Day 28 post
Slide 15: Lyme vaccine Phase 3 diagnostic algorithms
Lyme vaccine Phase 3 diagnostic algorithms Trial Case Definition: Clinical Suspicion of Lyme Disease (signs/symptoms) and At Least One Confirmatory Diagnostic Test Primary Endpoint – Symptomatic Suspected Cases Exploratory Endpoint – Otherwise Undiagnosed (all subjects) (Sera, plasma, punch biopsy,
Slide 16: LB6V is a Compelling Opportunity in an Underserved Market
LB6V is a Compelling Opportunity in an Underserved Market First-Mover Differentiated Compelling Strategic Fit Attractive Advantage in Highly Product Profile Target Population with Pfizer’s Vaccine Commercial Receptive Market and Use Case Franchise Dynamics Only Lyme disease Proven MoA with Broad add
Slide 17: Study VLA15-221: Booster doses significantly increase OspA antibody titers
Study VLA15-221: Booster doses significantly increase OspA antibody titers OspA-specific IgG antibodies GMT [U/mL] 10000 5 to 11 years old 12 to 17 years old 1000 18 to 65 years old 100 10 0 5 10 15 20 25 30 35 40 45 Months M0 M2 M6 M18 M30 M42 VLA15-221: Analysis 4 Table 14.4.3.2.4: ELISA: GMTs for
Slide 18: Valneva's and Pfizer's Collaboration to Co-Develop and Commercialize LB6V
Valneva’s and Pfizer’s Collaboration to Co-Develop and Commercialize LB6V Established April 2020 June 2022; Equity Investment of $95 Million by Pfizer; Updated Phase 3 cost split 40/60% (Valneva/Pfizer)* Rationale Maximize Lyme disease opportunity by leveraging Pfizer’s outstanding development and c
Slide 19: IXCHIQ / VLA1553 A Highly Differentiated single-shot Chikungunya Vaccine
IXCHIQ® / VLA1553 A Highly Differentiated single-shot Chikungunya Vaccine
Slide 20: Chikungunya: A Major Public Health Threat
Chikungunya: A Major Public Health Threat Mosquito-transmitted outbreak disease with potentially debilitating consequences • Often causes large, explosive outbreaks • Affecting up to 75% of the local population1 • Substantial quality-of-life and health-economic impact2 • Nearly half (43%) of those i
Slide 21: IXCHIQ: Focused on Confirming Efficacy/Safety and Expanding Access
IXCHIQ®: Focused on Confirming Efficacy/Safety and Expanding Access Robust clinical program supported by CEPI grant Pilot Vaccination Campaign Ongoing (Brazil) To serve as the basis for post-marketing commitment studies • Launched in February 2026 with partner Instituto Butantan in select municipali
Slide 22: S4V2 World's Most Clinically Advanced Tetravalent Shigella Vaccine Candidate
S4V2 World’s Most Clinically Advanced Tetravalent Shigella Vaccine Candidate
Slide 23: S4V2: Opportunity to Develop First-in-Class Vaccine for a Life-Threatening Disease
S4V2: Opportunity to Develop First-in-Class Vaccine for a Life-Threatening Disease Tetravalent bioconjugate vaccine with potential to cover up to ~85% of shigellosis infections1 Vaccine Market Key Highlights Opportunity Milestones World’s most clinically advanced Global market expected to exceed Pha
Slide 24: Commercial Assessment of Shigella Vaccine
Commercial Assessment of Shigella Vaccine Shigella vaccine market estimated to peak at ~€500 million1 Children in endemic Traveler (~23%) Military (<1%) countries (~76%) 20-50% 30-100% 70-90% Recommendation (OOP-reimbursement) (Med-high risk destinations) (Med-high risk destinations Acceptance 30% 1
Slide 25: Financial Guidance & Outlook
Financial Guidance & Outlook
Slide 26: Financial Outlook
Financial Outlook 2026 Sales Guidance Financial Outlook Product Sales: €135 - €150 million (reiterated); Continued cash flows from proprietary Commercial business expected to remain cash- commercialized vaccines flow positive Restructuring program implemented with positive P&L and cash flow impacts
Slide 27: Our Next Phase as a Leading Vaccine Biotech Company
Our Next Phase as a Leading Vaccine Biotech Company Potential LB6V Success Would Offer Strategic Growth Opportunities Leverage core strengths in vaccine development to deliver greater long-term value Key initiatives: Build scale in R&D pipeline post-LB6V exit • Strategic in-licensing/M&A to augment
Slide 28: Thank you
Thank you Merci Danke Tack valneva