Company: DVAX
Filing Date: 2025-05-07
Form Type: DEFA14A
Source: 0000930413-25-001671
Chunk: 6

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-07
Form: DEFA14A
Chunk 6
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 at no charge at the SEC’s website at www.sec.gov.
Copies will also be available at no charge at the Company’s website at https://investors.dynavax.com/sec-filings.

Page 4 of 6

Certain Information Regarding Participants

This communication is neither a solicitation of a proxy or consent
nor a substitute for any proxy statement or other filings that may be made with the SEC. The Company, its directors, its director
nominees and certain of its executive officers and employees may be deemed to be participants in the solicitation of proxies for
the 2025 Annual Meeting. Information regarding the names of such persons and their respective direct or indirect interests in
the Company, by securities holdings or otherwise, is available in the Proxy Statement, which was filed with the SEC on April 17,
2025, including in the sections captioned “Compensation Discussion and Analysis,” “Summary Compensation Table,”
“Grants of Plan Based Awards,” “Outstanding Equity Awards at Fiscal Year End,” “Pay Ratio Disclosure,”
“Director Compensation,” “Certain Transactions,” “Security Ownership of Certain Beneficial Owners
and Management,” and “Supplemental Information Regarding Participants in the Solicitation.” To the extent that
the Company’s directors and executive officers have acquired or disposed of securities holdings since the applicable “as
of” date disclosed in the Proxy Statement, such transactions have been or will be reflected on Statements of Changes in
Ownership of Securities on Form 4 or Initial Statements of Beneficial Ownership of Securities on Form 3 filed with the SEC. These
documents are or will be available free of charge at the SEC’s website at www.sec.gov.

Non-GAAP Financial Measures

To supplement our financial results presented on a GAAP basis,
we have included information about adjusted EBITDA, a non-GAAP financial measure. We believe the presentation of this non-GAAP
financial measure, when viewed with our results under GAAP, provide analysts, investors and other third parties with insights into
how we evaluate normal operational activities, including our ability to generate cash from operations, on a comparable year-over-year
basis and manage our budgeting and forecasting.

Adjusted EBITDA

Adjusted EBITDA is a non-GAAP financial measure that represents
GAAP net income or loss adjusted to exclude interest expense, interest income, the benefit from or provision for income taxes,
depreciation, amortization, stock-based compensation, and other adjustments to reflect changes that occur in our business but do
not represent