Company: DVAX
Filing Date: 2025-04-29
Form Type: DEFA14A
Source: 0000930413-25-001558
Chunk: 3

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-29
Form: DEFA14A
Chunk 3
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     Led                                                                                                                           
 multiple public company strategic exits and sales                                                                                   
 ·     Significant                                                                                                                   
 experience as public company Board member, including Orexo AB, Cascadian Therapeutics, AMAG Pharmaceuticals, Trillium Therapeutics, 
 Sensorion SA, Harpoon Therapeutics, Viridian Therapeutics and Zentalis Pharmaceuticals                                              | ·     30+                                                                                                                               
 years of experience leading finance and business development functions across the pharmaceutical industry as an executive and director; 
 raised $1+ billion as a CFO                                                                                                             
 ·     Deep                                                                                                                              
 expertise across capital markets, M&A and business and strategy development                                                             
 ·     Extensive                                                                                                                         
 experience as an executive in the life sciences industry, including as CFO of Evolus, Revance Therapeutics and ISTA Pharmaceuticals     
 ·     Significant                                                                                                                       
 experience as public company Board member, including at Harrow, Harpoon Therapeutics and Nicox SA                                       | ·     COO                                                                                                                          
 & CFO of Mammoth Biosciences                                                                                                       
 ·     30+                                                                                                                          
 years of experience in investment banking and life sciences industries                                                             
 ·     Experience                                                                                                                   
 leading broad range of transactions, including multiple M&A processes and financings, valued in excess of $50 billion              
 ·     Significant                                                                                                                  
 operational experience as CFO and Chief Strategy Officer at Vaxcyte, a developer of novel vaccines, and at Halozyme, a profitable, 
 commercial-stage biotechnology company                                                                                             
 ·     Significant                                                                                                                  
 Board experience at multiple biotechnology companies                                                                               |

In sharp contrast, Deep Track’s candidates lack
the decades of public company biotechnology and vaccine operational and financial acumen that Dynavax’s directors bring and
have little to

Page 3 of 6

no public company board experience – in fact, only one of Deep Track’s four candidates has ever served on a U.S. public company board of directors. In aggregate, Deep Track’s candidates bring no additive or differentiated skills to our current Board.

<div align='center'>DEEP TRACK IS DEMANDING UNREASONABLE AND UNNECESSARY CHANGE THAT WOULD DESTROY THE VALUE OF YOUR INVESTMENT</div>

Deep Track’s flawed plan, which favors a near-term
payoff at a considerably lower value, puts its own short-term interests above those of all other stockholders and would be detrimental
to the long-term value our Board is generating. Deep Track is demanding that Dynavax:

| · | Force an accelerated and outsized share repurchase program of