Moderna — Nov 7, 2024 release

Cost of Sales: Cost of sales is now expected to be in the range of 40-45% o f product sales for the year (previously 40-50%). Research and Development Expenses: Full-year 2024 research and development expenses are now anticipated to be in the range o f $4.6 to $4.7 billion (previously $4.8 billion). Selling, General and Administrative Expenses: Selling, general and administrative expenses for 2024 are projected to be approximately $1.2 billion. Income Taxes: The Company continues to expect its full-year tax expense to be negligible. Capital Expenditures: Capital expenditures for 2024 are now expected to be approximatel y $1.2 billion (previously ~$0.9 billion). The updated estimate includes the purchase of the Norwood, MA, campus for ~$0.4 billion. Cash and Investments: Year-end cash and investments for 2024 are projected to be approximately $9 billion. Recent Progress and Upcoming Late-Stage Pipeline Milestones The Company remains focused on a prioritized research and development portfolio, delivering on 10 product approvals over the next three years. Respiratory vaccines: • Next-generation COVID-19 vaccine : Moderna shared positive Phase 3 vaccine efficacy and immunogenicity data for its next-generation COVID-19 vaccine (mRNA-1283) at its R&D Day event in September 2024. • Respiratory syncytial virus (RSV) vaccine : Moderna shared positive Phase 3 data for its vaccine against RSV (mRNA-1345) in high-risk adults aged 18-59 at its 2024 R&D Day event