Moderna, Inc. · NASDAQ:MRNA

Moderna — 42nd Annual J.P. Morgan Healthcare Conference 2024

25 slides from Moderna's conference presentation, Jan 8, 2024

Slide 2: Forward-looking statements and disclaimer
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: Moderna’s anticipated future revenues, sales growth, profitability and margins; the
Slide 3: Agenda
J.P. Morgan Healthcare Conference 2024 Agenda 1 Foundation of our mRNA platform 2 Building out our business while responding to the pandemic 3 Transitioning to the endemic market 4 2024 and 2025 outlook 5 Late-stage growth drivers 3 © 2024 Moderna, Inc. All rights reserved.
Slide 4: Moderna was founded and built to use nature's information molecule, mRNA, to treat and prevent disease
J.P. Morgan Healthcare Conference 2024 Moderna was founded and built to use nature’s information molecule, mRNA, to treat and prevent disease DNA mRNA Protein mRNA-based medicine could move at the pace of information by leveraging a common platform 4 © 2024 Moderna, Inc. All rights reserved.
Slide 5: The promise of mRNA
J.P. Morgan Healthcare Conference 2024 The promise of mRNA 1 Large opportunity to address unmet need Higher efficiency 2 in R&D Rapid and agile 3 development Greater capital 4 efficiency 5 © 2024 Moderna, Inc. All rights reserved.
Slide 6: Investing in a platform to deliver on the promise of mRNA
J.P. Morgan Healthcare Conference 2024 Investing in a platform to deliver on the promise of mRNA 10+ years of investment creating a singular platform mRNA science mRNA Many Delivery platform medicines Manufacturing 6 © 2024 Moderna, Inc. All rights reserved.
Slide 7: Our platform enabled us to develop and deliver an authorized vaccine against COVID in record time in 2020
J.P. Morgan Healthcare Conference 2024 Our platform enabled us to develop and deliver an authorized vaccine against COVID in record time in 2020 7 © 2024 Moderna, Inc. All rights reserved.
Slide 8: We rapidly scaled our organization to meet global demand during the pandemic
J.P. Morgan Healthcare Conference 2024 We rapidly scaled our organization to meet global demand during the pandemic Delivered more than a billion doses around the world + + = Expanded internal Established Increased manufacturing manufacturing inventory capacity partnerships Combined revenue of $36B
Slide 9: Our R&D pipeline expanded during the height of the pandemic
J.P. Morgan Healthcare Conference 2024 Our R&D pipeline expanded during the height of the pandemic 2020 2023 25 development programs 45 development programs 11 preclinical 5 preclinical 8 Phase 1 20 Phase 1 4 Phase 2 10 Phase 2 1 Phase 3 7 Phase 3 Note: Numbers do not total as 2020 includes 1 commer
Slide 10: Market shift to the endemic phase resulted in lower annual vaccine volume
J.P. Morgan Healthcare Conference 2024 Market shift to the endemic phase resulted in lower annual vaccine volume 10 © 2024 Moderna, Inc. All rights reserved.
Slide 11: We transformed our COVID business for the endemic setting in 2023
J.P. Morgan Healthcare Conference 2024 We transformed our COVID business for the endemic setting in 2023 We expect our COVID franchise The company resized its to be profitable in manufacturing footprint and supply base to accelerate gross 2024 and beyond margin expansion towards its longer-term targ
Slide 12: Reiterating 2024 & 2025 financial framework
J.P. Morgan Healthcare Conference 2024 Reiterating 2024 & 2025 financial framework Expectations for full year 2024 Expectations for full year 2025 Sales ~$4 billion Return to growth Cost of Sales ~35% of product sales Improve with higher sales R&D ~$4.5 billion Flat to down, with ability to flex SG&
Slide 13: Moderna's late-stage pipeline in our four franchises provides foundation for growth
J.P. Morgan Healthcare Conference 2024 Moderna’s late-stage pipeline in our four franchises provides foundation for growth 2024 - 2025 • RSV • Flu • Next-Gen COVID • Flu/COVID combo INT 2025 + • Adjuvant • PA CMV Melanoma • MMA • Adjuvant NSCLC 13 © 2024 Moderna, Inc. All rights reserved.
Slide 14: Moderna's late-stage pipeline in our four franchises provides foundation for growth
J.P. Morgan Healthcare Conference 2024 Moderna’s late-stage pipeline in our four franchises provides foundation for growth 2024 - 2025 • RSV • Flu • Next-Gen COVID • Flu/COVID combo 2023 2024 2025 Sales Expected Sales Expected Sales ~$6.7 billion1,2 ~$4 billion Return to growth Market share On-marke
Slide 15: Moderna's late-stage pipeline in our four franchises provides foundation for growth
J.P. Morgan Healthcare Conference 2024 Moderna’s late-stage pipeline in our four franchises provides foundation for growth INT 2025 + • Adjuvant • PA CMV Melanoma • MMA • Adjuvant NSCLC CMV: Phase 3 trial is INT: Phase 3 trials for PA & MMA: Expecting fully enrolled and adjuvant melanoma & to move i
Slide 16: Moderna's late-stage pipeline in our four franchises provides foundation for growth
J.P. Morgan Healthcare Conference 2024 Moderna’s late-stage pipeline in our four franchises provides foundation for growth 2024 - 2025 • RSV • Flu • Next-Gen COVID • Flu/COVID combo Moderna’s late-stage pipeline represents in total an excess of $10 billion in sales INT 2025 + • Adjuvant • PA CMV Mel
Slide 17: High rates of success demonstrated by our platform give us confidence in the pipeline
J.P. Morgan Healthcare Conference 2024 High rates of success demonstrated by our platform give us confidence in the pipeline 3,4 All 3 of our 3 pivotal programs 3 reported positive Phase 3 results Note: Includes (Phase 1: 19 programs; Phase 2: 9 programs ; Phase 3: 6 programs). Assumes 85% of succes
Slide 18: Key takeaways from today's presentation
J.P. Morgan Healthcare Conference 2024 Key takeaways from today’s presentation Grew U.S. market Reiterating 2024 Late-stage pipeline share and and 2025 financial provides a foundation achieved over $6B1 framework with for growth, with in COVID vaccine expected $4B in sales multiple catalysts in sale
Slide 20: Confidential and Proprietary
Confidential and Proprietary
Slide 22: Anticipated milestones for late-stage programs in 2024 & 2025
J.P. Morgan Healthcare Conference 2024 Anticipated milestones for late-stage programs in 2024 & 2025 Respiratory vaccines • RSV vaccine: mRNA-1345 approvals beginning in 1H24 and subsequent commercial launches globally • Next-Gen COVID: mRNA-1283 Phase 3 data in 1H24 • Flu vaccine: mRNA-1010; Compan
Slide 23: Moderna's Respiratory Vaccines (Pipeline 1/3)
Moderna’s Respiratory Vaccines (Pipeline 1/3) Preclinical Modality Program ID # Phase 1 Phase 2 Phase 3 Commercial Moderna rights development Spikevax® Worldwide COVID-19 vaccine mRNA-1283 Next generation (2-5 °C) Worldwide mRNA-1010 Worldwide Adults mRNA-1020 Worldwide Flu vaccine mRNA-1030 Worldwi
Slide 24: Moderna's Latent & Emerging Vaccines (Pipeline 2/3)
Moderna’s Latent & Emerging Vaccines (Pipeline 2/3) Preclinical Moderna Modality Program ID # Phase 1 Phase 2 Phase 3 Commercial development rights CMV vaccine mRNA-1647 Worldwide EBV vaccine (to prevent Latent infectious mononucleosis) mRNA-1189 Worldwide EBV vaccine (to address EBV mRNA-1195 World
Slide 25: Moderna's Therapeutics (Pipeline 3/3)
Moderna’s Therapeutics (Pipeline 3/3) Preclinical Modality Program ID # Phase 1 Phase 2 Phase 3 Commercial Moderna rights development Relaxin Worldwide Heart failure mRNA-0184 Systemic PD-L1 secreted & cell Autoimmune hepatitis mRNA-6981 Worldwide surface Individualized neoantigen 50-50 global profi

Moderna — 42nd Annual J.P. Morgan Healthcare Conference 2024 on 6ix

Moderna — 42nd Annual J.P. Morgan Healthcare Conference 2024

Slide 1: 42nd Annual J.P. Morgan Healthcare Conference

Slide 2: Forward-looking statements and disclaimer

Slide 3: Agenda

Slide 4: Moderna was founded and built to use nature's information molecule, mRNA, to treat and prevent disease

Slide 5: The promise of mRNA

Slide 6: Investing in a platform to deliver on the promise of mRNA

Slide 7: Our platform enabled us to develop and deliver an authorized vaccine against COVID in record time in 2020

Slide 8: We rapidly scaled our organization to meet global demand during the pandemic

Slide 9: Our R&D pipeline expanded during the height of the pandemic

Slide 10: Market shift to the endemic phase resulted in lower annual vaccine volume

Slide 11: We transformed our COVID business for the endemic setting in 2023

Slide 12: Reiterating 2024 & 2025 financial framework

Slide 13: Moderna's late-stage pipeline in our four franchises provides foundation for growth

Slide 14: Moderna's late-stage pipeline in our four franchises provides foundation for growth

Slide 15: Moderna's late-stage pipeline in our four franchises provides foundation for growth

Slide 16: Moderna's late-stage pipeline in our four franchises provides foundation for growth

Slide 17: High rates of success demonstrated by our platform give us confidence in the pipeline

Slide 18: Key takeaways from today's presentation

Slide 19: Our Mission

Slide 20: Confidential and Proprietary

Slide 21: Appendix

Slide 22: Anticipated milestones for late-stage programs in 2024 & 2025

Slide 23: Moderna's Respiratory Vaccines (Pipeline 1/3)

Slide 24: Moderna's Latent & Emerging Vaccines (Pipeline 2/3)

Slide 25: Moderna's Therapeutics (Pipeline 3/3)