Novavax Appoints Biopharmaceutical Veterans Jim Kelly as Chief Financial Officer and Nasir Egal, Ph.D., as Senior Vice President of Quality Assurance GAITHERSBURG, Md.

Novavax Appoints Biopharmaceutical

Veterans Jim Kelly as Chief Financial Officer and Nasir Egal, Ph.D., as Senior Vice President of Quality Assurance

GAITHERSBURG, Md., August 16, 2021 - Novavax,

Inc. (Nasdaq: NVAX), a biotechnology company developing next-generation vaccines for serious infectious diseases, today announced the

appointment of Jim Kelly as Executive Vice President, Chief Financial Officer (CFO) and Treasurer, and Nasir Egal, Ph.D. as Senior Vice

President, Quality Assurance. Mr. Kelly will report to Stanley C. Erck, President and Chief Executive Officer, and Dr. Egal will report

to Rick Crowley, Executive Vice President and Chief Operations Officer.

Mr. Kelly brings more than twenty-five years of

industry experience in both commercial and clinical-stage companies to Novavax. He joins Novavax from Supernus Pharmaceuticals, where

he served as CFO. Previously, he spent ten years at Vanda Pharmaceuticals, where he was CFO and Treasurer. Earlier, he spent over a decade

in finance roles of increasing responsibility at MedImmune (now AstraZeneca) and Biogen. He holds a Master of Business Administration

from Cornell University, a Bachelor of Science in Business Administration from the University of Vermont and is a CFA charterholder.

"We welcome Jim's broad finance and

strategic leadership as Novavax quickly matures into a global commercial company," said Mr. Erck. "His experience will

be of particular importance as we prepare to effectively deliver urgently needed vaccine to all corners of the world in the fight against

COVID-19 and work to advance our pipeline of vaccine candidates targeting serious infectious diseases."

Egal brings a diverse range of global quality experience to Novavax. He most recently served as the Head of Global Quality External Affairs

at Sanofi, where he spent nearly a decade in roles of increasing responsibility. Earlier in his career, he held global and regional quality

and compliance roles at Novartis and Merck. He also spent time at the United States Food and Drug Administration as a research scientist.

Egal holds a Doctorate in Chemistry from the American University.

"Nasir's deep quality experience and

perspective gained by leading complex global programs will be invaluable as we continue to advance regulatory and commercial activities

for our recombinant nanoparticle COVID-19 vaccine," said Mr. Crowley. "Nasir brings invaluable quality expertise at precisely

the right time for Novavax."

Novavax, Inc. (Nasdaq: NVAX) is a biotechnology

company that promotes improved health globally through the discovery, development and commercialization of innovative vaccines to prevent

serious infectious diseases. The company's proprietary recombinant technology platform combines the power and speed of genetic engineering

to efficiently produce highly immunogenic nanoparticles designed to address urgent global health needs. Novavax is conducting

late-stage clinical trials for NVX-CoV2373, its vaccine candidate against SARS-CoV-2, the virus that causes COVID-19. NanoFlu ,

its quadrivalent influenza nanoparticle vaccine, met all primary objectives in its pivotal Phase 3 clinical trial in older adults and

will be advanced for regulatory submission. Both vaccine candidates incorporate Novavax' proprietary saponin-based Matrix-M

adjuvant to enhance the immune response and stimulate high levels of neutralizing antibodies.

For more information, visit www.novavax.com

and connect with us on Twitter and LinkedIn.

Forward-Looking Statements

herein relating to the future of Novavax, its operating plans and prospects, the ongoing development of NVX-CoV2373 and other Novavax

vaccine product candidates, future regulatory submissions, and the role that Novavax may play in the fight against COVID-19 are forward-looking

statements. Novavax cautions that these forward-looking statements are subject to numerous risks and uncertainties that could cause actual

results to differ materially from those expressed or implied by such statements. These risks and uncertainties include challenges satisfying,

alone or together with partners, various safety, efficacy, and product characterization requirements, including those related to process

qualification and assay validation, necessary to satisfy applicable regulatory authorities; difficulty obtaining scarce raw materials

and supplies; resource constraints, including human capital and manufacturing capacity, on the ability of Novavax to pursue planned regulatory

pathways; challenges meeting contractual requirements under agreements with multiple commercial, governmental, and other entities; and

those other risk factors identified in the "Risk Factors" and "Management's Discussion and Analysis of Financial

Condition and Results of Operations" sections of Novavax' Annual Report on Form 10-K for the year ended December 31, 2020

and subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission (SEC). We caution investors not to

place considerable reliance on forward-looking statements contained in this press release. You are encouraged to read our filings with

the SEC, available at www.sec.gov and www.novavax.com, for a discussion of these

and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and

we undertake no obligation to update or revise any of the statements. Our business is subject to substantial risks and uncertainties,

including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Erika Schultz | 240-268-2022

Alexandra Roy | 617-221-9197

Alison Chartan | 240-720-7804

Laura Keenan | 202-709-7521