Valneva : Company Presentation

Advancing Vaccines for Better Lives

Company Presentation

Disclaimer

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 is unlawful.

Valneva is a European company. Information distributed is subject to European disclosure requirements that are different from those of the United States. Financial statements and information may be prepared according to accounting standards which may not be comparable to those used generally by companies in the United States.

This presentation includes only summary information provided as of the date of this presentation only and does not purport to be comprehensive. Any information in this presentation is purely indicative and subject to modification at any time without notice. Valneva does not warrant the completeness, accuracy or correctness of the information or opinions contained in this presentation. None of Valneva, or any of its affiliates, directors, officers, advisors and employees, is under any obligation to update such information or shall bear any liability for any loss arising from any use of this presentation. The information has not been subject to independent verification and is qualified in its entirety by the business, financial and other information that Valneva is required to publish in accordance with the rules, regulations and practices applicable in particular to companies listed on the regulated market of Euronext in Paris, including in particular the risk factors described in Valneva's most recent universal registration document filed with the French Financial Markets Authority (Autorité des Marchés Financiers, or AMF) on April 9, 2021, in Valneva's half year financial report published on August 10, 2021 and the Form F-1 filed with the U.S. Securities and Exchange Commission on May 5, 2021, as well as in any other periodic report and in any other press release, which are available free of charge on the websites of Valneva (www.valneva.com) and/or the AMF (www.amf-france.org).

Certain information and statements included in this presentation are not historical facts but are forward-looking statements, including statements relating to the business of Valneva, including with respect to the progress, timing, results and completion of research, development and clinical trials for product candidates, relating to regulatory approval of product candidates, and estimates for future performance. Success in preclinical studies or earlier clinical trials may not be indicative of results in future clinical trials. The forward-looking statements (a) are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future business strategies and the environment in which Valneva operates, and involve known and unknown risk, uncertainties and other factors, which may cause actual results, performance or achievements to be materially different from those expressed or implied by these forward-looking statements, (b) speak only as of the date this presentation is released, and (c) are for illustrative purposes only. Investors are cautioned that forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Valneva.

Valneva - Company Presentation

October 2021

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Valneva in Summary

We are a specialty vaccine company focused on the development and commercialization of prophylactic vaccines for infectious diseases with significant unmet medical need

• Highly specialized and targeted approach to development of unique prophylactic vaccines
• Advanced pipeline of differentiated clinical-stage assets designed to address large target populations
• Product development and regulatory expertise with clear demonstrated ability of rapidly moving new vaccines through the clinic to commercialization
• Highly developed, nimble and sophisticated manufacturing infrastructure
• Two commercialized vaccines, a specialist sales infrastructure and distribution rights for third-party vaccines
• Highly experienced leadership team with expertise in the vaccine space

Valneva - Company Presentation

October 2021

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Research & Development

Valneva Has An Advanced Clinical Pipeline and Two Approved Products

Clinical Portfolio

Commercial Portfolio

Program

Discovery

Pre-Clinical

Phase 1

Phase 2

Phase 3

Commercial

Upcoming

Development

Milestones

Partners

Further Ph 2

VLA151:

data in 2022;

Lyme disease

Ph3 trial initiation

expected in 2022

VLA15532:

Potentially

Final clinical

eligible for PRV

Chikungunya

data in Q1 2022

Finalize

VLA2001:

submissions for

COVID-19

regulatory

approval

IXIARO:

Japanese

Encephalitis

DUKORAL:

Cholera, ETEC3

1 VLA15 received Fast Track designation from the FDA. 2 VLA1553 received Fast Track designation from the FDA, PRIME designation from the European Medicines Agency and is also potentially eligible for a U.S. Priority Review Voucher. 3 Indications differ by country - Please refer to Product / Prescribing Information (PI) / Medication Guide approved in your respective countries for complete information, incl. dosing, safety and age groups in which this vaccine is licensed, ETEC = Enterotoxigenic Escherichia coli (E. Coli) bacterium

Valneva - Company Presentation

October 2021

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