Update on Stock Option Exercise and Charitable Giving

Dear Stakeholders,

You might remember that last year my wife and I announced that we will give all the after-tax proceeds from the sales of my first Moderna stock option grant to charity. This grant was awarded to me in 2013 and will expire, 10 years later, this summer. With the publication of Moderna’s proxy statement last week, I wanted to provide an update.

In 2022, the sale of the stock options generated around $393 million. We donated the after-tax proceeds, totaling $176 million, to charity that year. And so far this year, we've donated another $76 million to charity.

Through Bancel Philanthropies and the Champions of Love Foundation, two organizations we created to carry out our charitable efforts, we hope to have a positive impact on the world and on the communities in which we live.

Bancel Philanthropies makes donations to people and programs with the potential to transform lives, advance social justice, and heal communities. Champions of Love Foundation supports extraordinary leaders who work to ease the suffering of people in their communities. Our Champions work with the homeless, the incarcerated, the poor, and the abused. We support these leaders not only in their core work but also by providing separate funding each year for them to donate to other nonprofits as they deem appropriate, given their accumulated knowledge, deep work, and lived experiences.

My wife and I know we have only one lived experience and we believe it is important to seek out other individuals with different lived experiences to help us give away our wealth and have the greatest and most equitable impact.

I will update you with the final summary once the last grant to charity is made later this year.

Cheers,

Stéphane Bancel