Company: DVAX
Filing Date: 2025-05-12
Form Type: DEFA14A
Source: 0000930413-25-001704
Chunk: 26

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-12
Form: DEFA14A
Chunk 26
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 announced on 1/27 Two Directors Two incremental to two announced on 1/27 Two Directors Kisner and Cano immediately Standstill Length 1 year No Timeframe Specified No Standstill Agreement 2 years Other - - • Rebalance directors into three classes of three directors in each class • Removed stipulation on share repurchase • Removed demand for Scott to step down • Increase Share Repurchase Program another $200M ($100M in ASR) • Santel to be added to the NomGov committee, Erkman to the Compensation Committee • Erkman must be renominated at the 2026 annual meeting • Deep Track ability to acquire 20% of the company Responses Deep Track required Mr. Erkman’s appointment and commitment to increase Share Repurchase Program Responded on 3/20 Responded on 4/12 Responded on 4/25 35 | We Worked Diligently and Sincerely to Negotiate a Peaceful Resolution…(2/2) Privileged and Confidential In 4 different settlement proposals over a 3 - month period we offered meaningful Board refreshment which would not compromise the Company’s long - term prospects

ibdroot \ projects \ IBD - NY \ dilates2022 \ 698484_1 \ Presentations \ 24. 2025.02.XX Fight Deck \ FINAL - to share with Cooley \ Dynavax Investor Presentation (May - 2025)_Print.pptx Deep Track immediately rejected our proposal and insisted in greater representation and new conditions Deep Track immediately rejected our proposal and insisted on each of their prior terms …But Deep Track Would Not Negotiate in Good Faith (1/3) © Copyright DYNAVAX 2025 36 | DVAX 1 st Proposal (1/22) • Appointment of 2 new independent directors (including 1 Deep Track nominee) • Retirement of 1 incumbent director • 2 - year standstill agreement 1 (+) improvement in offered terms vs. prior offer ( - ) worsening of offered terms vs. prior offer Deep Track Counterproposal (1/22) • Appointment of 2 Deep Track nominees (including Brett Erkman ) • Retirement of 2 incumbent directors • No standstill agreement • Immediate Board declassification (new condition) • Removal of stockholder rights plan (new condition) 1 DVAX 2 nd Proposal (1/25) • Appointment of 3 new independent directors • (including 1 Deep Track nominee) (+) • Retirement of