Moderna Reports Fourth Quarter and Fiscal Year 2021 Financial Results and Provides Business Updates Q4 2021 revenues of $7.2 billion; GAAP net-income of $4.9 billion and GAAP diluted EPS of $11.29 Full year 2021 revenues

Moderna Reports Fourth Quarter and Fiscal Year 2021 Financial Results and Provides Business Updates

Q4 2021 revenues of $7.2 billion; GAAP net-income of $4.9 billion and GAAP diluted EPS of

Full year 2021 revenues of $18.5 billion; GAAP net-income of $12.2 billion

and GAAP diluted EPS of $28.29

Moderna increased its 2022 signed advance purchase agreements to approximately $19 billion,

with additional signed options of approximately $3 billion; numerous discussions ongoing with governments for the fall of 2022 and 2023

Moderna received full U.S. FDA approval for COVID-19 vaccine, Spikevax

Moderna announces new bivalent booster candidate (mRNA-1273.214) combining Omicron-specific booster candidate (mRNA-1273.529) and the

Moderna COVID-19 vaccine (mRNA-1273)

Company now has 44 programs in development

Moderna announces a new $3 billion share repurchase plan

CAMBRIDGE, Mass. (ACCESS WIRE) February 24, 2022 Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA)

therapeutics and vaccines, today reported financial results and provided business updates for the fourth quarter of fiscal year 2021.

now approved in more than 70 countries around the world protecting hundreds of millions of people and real-world evidence from multiple independent studies has confirmed its strong effectiveness, said St phane Bancel, Chief Executive

Officer of Moderna. In 2021, we delivered 807 million doses with approximately 25% of those doses going to low- and middle-income countries, and we will continue to scale in 2022 to help end the COVID-19 pandemic. Moderna has experienced exponential growth and we have more than doubled the size of our team over the last year with a global team of 3,000. We also have announced plans to scale to 21 commercial

subsidiaries across the world, including four new locations in Asia and six new locations in Europe. We continue to expand and advance our industry-leading mRNA pipeline with 44 programs in development. We look forward to clinical readouts from our

therapeutics development candidates later in 2022 in rare genetic diseases and oncology. We are entering 2022 with a remarkable team and strategic priorities to continue advancing mRNA vaccines and therapeutics to impact human health.

Updates and recent progress include:

COVID-19 Vaccine Development

Respiratory Vaccines

Moderna now has 44 programs in development across 41 development

candidates1, of which 25 are currently in active clinical trials. The Company s updated pipeline can be found at www.modernatx.com/pipeline. Moderna and collaborators have published more

than 100 peer reviewed manuscripts.

Summary of Program Highlights by Modality2

Vaccines: Moderna is developing vaccines against viral diseases where there is an unmet medical need, including vaccines against respiratory infections and vaccines against latent viruses.

Vaccines against acute respiratory infections

COVID-19 vaccine development

Additional vaccines against respiratory infections

Vaccines against latent viruses

Public health vaccines

Systemic Secreted & Cell Surface

Therapeutics: In this modality, mRNA is delivered systemically to create proteins that are either secreted or expressed on the cell surface.

Exploratory Modalities

Cancer Vaccines: These programs focus on stimulating a patient s immune system with antigens derived

from tumor-specific mutations to enable the immune system to elicit a more effective anti-tumor response.

Regenerative Therapeutics: Localized production of proteins has the potential to be used as a regenerative medicine for damaged tissues.

Systemic Intracellular Therapeutics: These programs aim to deliver mRNA into cells within target organs as a

therapeutic approach for diseases caused by a missing or defective protein.

Inhaled Pulmonary Therapeutics

Information about each

development candidate in Moderna s pipeline can be found at investors.modernatx.com.

Fourth Quarter and Full Year 2021 Financial Results

2022 Financial Framework

Commercial Outlook in 2023 & Beyond

Moderna s Capital Allocation Priorities

2021 Commercial Network

Moderna is building a global commercial network to enable Moderna s entire portfolio, which will facilitate the commercialization of its pipeline

without a large pharmaceutical partner. The Company now has active commercial subsidiaries in the following geographies in the Americas: Canada, the United States; Europe: France, Germany, Italy, Spain, Switzerland, and the United Kingdom;

Asia Pacific: Australia, Japan, and South Korea. In addition, Moderna works with distributors or partners in other geographies.

2022 New Commercial Networks

In 2022, the Company plans to further expand its commercial network

to enable Moderna s entire portfolio by establishing or activating commercial subsidiaries in the following geographies in Asia: Hong Kong, Malaysia, Singapore and, Taiwan; and in Europe: Belgium, Denmark, Netherlands, Norway, Poland,

and Sweden. In addition, Moderna will continue to work with distributors or partners in other geographies.

Corporate Social Responsibility

Key 2022 Investor and Analyst Event Dates

Investor Call and Webcast Information

a live conference call and webcast at 8:00 a.m. ET on Thursday, February 24, 2022. To access the live conference call, please dial 866-922-5184 (domestic) or 409-937-8950 (international) and refer to conference ID 5682797. A webcast of the call will also be available under Events and Presentations in the Investors

section of the Moderna website at investors.modernatx.com. The archived webcast will be available on Moderna s website approximately two hours after the conference call and will be available for one year following the call.

In over 10 years since its

inception, Moderna has transformed from a research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across seven modalities, a broad

intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation, and an integrated manufacturing plant that allows for rapid clinical and commercial production at scale. Moderna maintains alliances with a broad

range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna s capabilities have come together to allow the

authorized use and approval of one of the earliest and most effective vaccines against the COVID-19 pandemic.

Moderna s mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the

development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the

past seven years. To learn more, visit www.modernatx.com.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited, in millions, except per share data)

CONDENSED CONSOLIDATED BALANCE SHEETS AND STATEMENTS OF CASH FLOWS DATA

(Unaudited, in millions)

Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including

statements regarding: the Company s development of vaccines against COVID-19, including efforts to develop variant-specific and multivalent vaccines against variant strains of SARS-CoV-2 and for booster doses; the ability of the Moderna COVID-19 Vaccine and booster doses to provide protection against COVID-19 and variants of concern, including Omicron; the need for boosters against COVID-19; the Company s plan to submit for EUA for

at-risk adolescents; the Company s plan to submit data regarding use of its COVID-19 vaccine in adolescents and pediatrics to regulators; the conduct and timing of

clinical trials for programs in the Company s pipeline, including its vaccine candidates against seasonal flu, combination flu and COVID-19, hMPV + PIV3, RSV + hMPV, CMV, RSV, HIV, Zika virus, Nipah

virus, EBV, triplet, IL-12, KRAS, VEGF-A, IL-2, PA, MMA, the Company s checkpoint cancer vaccine, as well as the

Company s personalized cancer vaccine candidate; the ability of the Company s next-generation flu candidates to potentially improve immunity; the ability of an mRNA vaccine against HSV-2 to deliver

similar efficacy as existing treatments and to improve compliance and quality of life; the potential for the Company s HSV-2 vaccine candidate to provide cross protection against HSV-1; the commercial opportunity for an HSV-2 vaccine; the potential market associated with commercial vaccines; the Company s capital allocation priorities, including

its intention to reinvest in the business, accelerate investment, seek external investment opportunities and return capital to shareholders; anticipated vaccine deliveries under advance purchase agreements and options in 2022 and the associated

dollar amounts to be received, which should not be construed as expected 2022 revenue and the anticipated timing for those deliveries; contracts for COVID-19 vaccine sales in 2023; the likelihood that options

for purchases of the Company s COVID-19 vaccine will be exercised; expected cost of sales as a percentage of product sales for fiscal year 2022; expected full year operating expenses and capital

investments in 2022; the Company s expected effective tax rate for 2022; new manufacturing and commercial capacity expected to come online in 2022, including the Company s plans to expand its commercial network globally through the

establishment of subsidiaries in new locations; anticipated deliveries of COVID-19 vaccine to the COVAX facility in 2022; the Company s plans to build a facility in Africa; the Company s pledge to

achieve net-zero carbon emissions by 2030; and the Company s commercial rights to its development candidates. In some cases, forward-looking statements can be identified by terminology such as

will, may, should, could, expects,

intends, plans, aims, anticipates, believes, estimates, predicts, potential, continue,

or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this presentation are neither promises nor guarantees, and you should not place undue

reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna s control and which could cause actual results to differ materially from those

expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading Risk Factors in Moderna s most recent Annual

Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) and in subsequent filings made by Moderna with the SEC, which are available on the SEC s website

at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this presentation in the event of new information, future developments

or otherwise. These forward-looking statements are based on Moderna s current expectations and speak only as of the date hereof.

Director, Corporate Communications

Senior Vice President & Head of Investor Relations