CureVac Announces Financial Results for the Third Quarter and First Nine Months of 2025 and Provides Business Updates German Federal Cartel Office clearance obtained for the planned BioNTech - CureVac transaction announc

CureVac Announces Financial Results for the

Third Quarter and First Nine Months of 2025 and Provides Business Updates

T BINGEN, Germany / BOSTON, USA - November 24, 2025

- CureVac N.V. (Nasdaq: CVAC), a pioneering multinational biotech company developing a new class of transformative medicines based

on messenger RNA (mRNA), today announced financial results for the third quarter and first nine months of 2025 and provided a business

"This quarter, we have made continued progress toward completing

the planned transaction with BioNTech, bringing us closer to realizing our shared vision of bringing together two pioneers in mRNA science

with complementary capabilities and technologies," said Dr. Alexander Zehnder, Chief Executive Officer of CureVac. "Together,

we aim to accelerate the development of innovative and transformative mRNA-based therapies for patients in need."

Selected Business Updates

Definitive Purchase Agreement with BioNTech

Protection of Intellectual Property Rights

2025 Oncology Milestones

Financial Update for the Third Quarter and First

Cash and cash equivalents totaled 416.1 million

as of September 30, 2025, compared with 481.7 million at year-end 2024. During the first nine months of 2025, cash was mainly used

for operating activities, primarily to support ongoing research and development (R&D) in oncology precision immunotherapies, prophylactic vaccines, and continued

development of CureVac's mRNA technology.

Cash outflow decreased significantly compared to the

same period in 2024, mainly due to:

The company reaffirms its expected cash runway into

Further Balance Sheet Developments

On the assets side, changes compared to December 31,

2024, related to a decrease in non-current assets, mainly reflecting depreciation of existing property, plant and equipment (PPE) and

right-of-use assets. Current assets increased due to the receivable from BioNTech associated with the U.S. settlement agreement (U.S.

Settlement Agreement) and the U.S. license agreement (U.S. License Agreement) each entered into by and among CureVac SE and CureVac Manufacturing

GmbH on the one hand and BioNTech SE, BioNTech Manufacturing GmbH and Pfizer, Inc. on the other hand on August 7, 2025.

On the liabilities side, the primary change compared

to December 31, 2024, was an increase in other liabilities which included 120.9 million related to value added tax on the U.S. Settlement

recognized in August 2025.

Revenues were 54.1 million for the third quarter

and 56.3 million for the first nine months of 2025, compared with 493.9 million and 520.7 million in the respective

periods of 2024. This represents year-over-year decreases of 439.8 million and 464.4 million, both 89%, respectively.

The decline was primarily driven by the absence of

the 480.4 million one-time revenue recognized in the third quarter of 2024 in connection with the new license agreement with GlaxoSmithKline

Biologicals SA (GSK) closed in July 2024. Under the new license agreement CureVac received a non-refundable upfront payment of 400.0

million with no obligation to perform R&D work in connection with the newly granted licenses and CureVac and GSK agreed that all unfulfilled

performance obligations from prior collaborations relating to R&D services had expired. As a result, the remaining 80.4 million

contract liabilities for prior collaborations were also recognized as revenue in the third quarter of 2024.

In the third quarter of 2025 $50.0 million were recognized

following the first amendment to the GSK license agreement concluded in August 2025. In addition, CureVac recognized 11.1 million

in Q3 2025 related to royalties under the U.S. License Agreement with BioNTech and Pfizer, also closed in August 2025.

For the nine months ended September 30, 2025, CureVac

recorded revenues of 43.3 million from GSK, 11.1 million from BioNTech, and 1.8 million from CRISPR Therapeutics, compared

with 508.3 million, 0 million, and 12.4 million, respectively, in the prior-year period.

Operating profit was 310.2 million for the third

quarter and 193.7 million for the first nine months of 2025, compared with 368.4 million and 221.4 million in the respective

prior-year periods. Operating profit was impacted by a positive one-time effect of $420.0 million for the three and nine months ended

September 30, 2025, resulting from the net effect of the U.S. Settlement Agreement amounting to $370.0 million and $50.0 million related

to the first amendment to the GSK license agreement closed in August 2025, compared to a positive one-time effect of 480.4 million

in the respective prior year periods related to the new license agreement with GSK closed in July 2024.

The operating profit for 2025 reflects several drivers,

partly influenced by the strategic restructuring initiated in July 2024, the proposed transaction with BioNTech, and the U.S. Settlement

Agreement finalized in August 2025:

The net financial result for the three and nine months

ended September 30, 2025, was a loss of 2.6 million and a gain of 2.2 million, respectively, compared with gains of 2.2

million and 8.0 million in the respective prior-year periods. The year-over-year changes were primarily due to unrealized foreign

Net profit for the three and nine months ended September

30, 2025, was 273.2 million and 161.6 million, respectively, compared with 338.0 million and 194.9 million in

the same periods in 2024.

Basic And Diluted Earnings Per Share

Basic and diluted earnings per share for the third

quarter of 2025 were 1.21, compared with 1.51 (basic) and 1.50 (diluted) in the prior-year quarter. For the first nine

months of 2025, basic earnings per share were 0.72 and diluted earnings per share were 0.71, compared with 0.87 (basic)

and 0.86 (diluted) for the prior-year period.

EU Advance Purchase Agreement Update

Final audit report relating to the Advance Purchase Agreement with

the European Commission for CureVac's first-generation COVID-19 vaccine candidate

On November 30, 2020, CureVac entered

into an Advance Purchase Agreement (APA) with the European Commission (the EU Commission) for the supply of its first-generation COVID-19

vaccine candidate (CVnCoV). Under the APA, CureVac received an upfront payment of 450 million, for development and commercial supply

activities of CVnCoV.

On July 24, 2024, the EU Commission

informed CureVac that it had engaged Deloitte, S.L. (Deloitte) to conduct an audit of CureVac's compliance with the APA. On September

17, 2025, the EU Commission provided CureVac with Deloitte's draft audit report, which included preliminary findings alleging missing

documentation, absence of project cost allocation, cost traceability and reconciliations, as well as inconsistencies between information

submitted during the audit and financial information previously provided to the EU Commission. CureVac submitted objections to the findings

of Deloitte's draft audit report on October 17, 2025. On November 18, 2025, the EU Commission delivered to CureVac Deloitte's

final audit report, which was consistent with their draft audit report.

CureVac contested, and will continue

to contest, the findings in Deloitte's audit reports. If the European Commission will seek recovery of any portion or all of the

450 million upfront payment or to impose any fines related thereto, CureVac will defend itself against any such payment request

or imposed fines to the fullest extent legally possible.

CureVac (Nasdaq: CVAC) is a pioneering multinational

biotech company founded in 2000 to advance the field of messenger RNA (mRNA) technology for application in human medicine. In more than

two decades of developing, optimizing, and manufacturing this versatile biological molecule for medical purposes, CureVac has introduced

and refined key underlying technologies that were essential to the production of mRNA vaccines against COVID-19, and is currently laying

the groundwork for application of mRNA in new therapeutic areas of major unmet need. CureVac is leveraging mRNA technology, combined with

advanced omics and computational tools, to design and develop off-the-shelf and personalized precision immunotherapy candidates to treat

cancer. It also develops programs in prophylactic vaccines and in treatments that enable the human body to produce its own therapeutic

proteins. Headquartered in T bingen, Germany, CureVac also operates sites in the Netherlands, Belgium, Switzerland, and the U.S.

Further information can be found at www.curevac.com.

CureVac Media and Investor Relations Contact

CureVac, T bingen, Germany

Corporate Communications

Forward-Looking Statements of CureVac

This press release contains statements that constitute

"forward looking statements" as that term is defined in the United States Private Securities Litigation Reform Act of 1995,