Company: DVAX
Filing Date: 2025-05-12
Form Type: DEFA14A
Source: 0000930413-25-001704
Chunk: 21

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-12
Form: DEFA14A
Chunk 21
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 Presentation (May - 2025)_Print.pptx 0% 100% 200% 300% 400% 1-Jan-21 1-Jan-22 1-Jan-23 1-Jan-24 31-Dec-24 187% 1 © Copyright DYNAVAX 2025 Deep Track’s Distortions Don’t Stop There (2/3) 30 | Using the same time period for both the revenue and the TSR data tells a much different, if less convenient, story A deceptively - labelled TSR chart starts in October 2021 – nine months after the HEPLISAV - B revenue data to which Deep Track compares it Deep Track Investor Presentation – page 20 filed May 5, 2025 Blatant dishonesty is no foundation for a compelling argument Full Year October Source: FactSet; Market data as of 17 - Apr - 2025 1 Total stockholder return from 01 - Jan - 21, the first day of 2021, to 31 - Dec - 2024, the last day of 2024.

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 © Copyright DYNAVAX 2025 Deep Track’s Distortions Don’t Stop There (3/3) 31 | 15% of 8% is 1.2% of total CEO compensation. There is no undue pressure here 10% Base Salary CEO 2024 Compensation 8% Target Bonus 2024 Corporate Goals 45% Drive HEPLISAV - B Growth 20% Advance our existing pipeline (Sales, Market share growth) 15% Advance business development and corporate development focus 10% Maintain a strong financial position (Adj. EBITDA, Free Cash Flow) 10% Continue to strengthen the organizations capabilities and culture 35% Performance Share Units (PSUs) 22% Stock Options 25% Restricted Stock Units (RSUs) 100% 3 - year Relative Total Stockholder Return Claims 15% of management compensation is tied to “sourcing external opportunities”, unduly pressuring management to pursue inorganic growth Deep Track Investor Presentation – page 47 filed May 5, 2025 Even Deep Track’s math, like its critique