Company: DVAX
Filing Date: 2025-06-04
Form Type: DEFA14A
Source: 0001193125-25-135000
Chunk: 1

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-06-04
Form: DEFA14A
Chunk 1
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 in connection with the election of the Company’s director nominees – Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – at its Annual Meeting of Stockholders on June 11, 2025 (the “2025 Annual Meeting”): We strongly disagree with Glass Lewis’ recommendation against two of our highly qualified directors. Significant Board composition and strategy changes have already been made, and the directors needed to continue successfully executing our superior strategic plan that is delivering significant long-term stockholder value are already on the Board. Indeed, Glass Lewis acknowledges that Dynavax’s 2019 pivot has generated significant stockholder returns, the Company’s share repurchase program differentiates Dynavax amongst our peers, and our Board has been meaningfully refreshed with high-quality and sector-specific expertise. In its June 4, 2025, report, Glass Lewis noted 1:

| • |     | “Dynavax’s longer-term performance suggest that its 2019 strategic pivot toward vaccines has 
 meaningfully contributed to shareholder value creation.”                                     |

| • |     | “We also observe that the board has a relatively balanced mix of short-, medium- and long-tenured                                                                                                                                              
 directors: two directors (including Management Nominee Silvernail) were appointed in February 2025; four (including Management Nominees MacGregor, Myers and Sun) were appointed between 2020 and 2021, more than a year after the Company had 
 announced its strategic pivot to focus on its vaccine business; and three have served since the pre-2019 strategic pivot.”                                                                                                                     |

| • |     | “We recognize that each of the Company’s directors have                                                                                                                      
 C-suite experience within the healthcare sector. To be clear, we do not doubt the depth, quality and relevance of the sector-specific expertise offered by these directors.” |

| 1 | Permission to use quotes neither sought nor obtained. Emphasis added. |

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Importantly, Institutional Shareholder Services (“ISS”) and Egan Jones agree that there is not a case for change and stockholders should support all of Dynavax’s director nominees. Dynavax has the right strategy and the right Board:

| • |     | Growing                                                                                                                                                                                                                                                                                                                                                   
 HEPLISAV-B® market leadership: Since its launch in 2019, the Board and management team have grown                                                                                                                                                                                                                                                         
 HEPLISAV-B® to be the market-leading hepatitis B vaccine with $268 million of net product revenue in 2024 and 44