Company: DVAX
Filing Date: 2025-05-12
Form Type: DEFA14A
Source: 0000930413-25-001703
Chunk: 1

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-12
Form: DEFA14A
Chunk 1
---
2025, will be entitled to vote at the meeting.

Highlights of the presentation include:

| · | Following its successful pivot in 2019 to prioritize its vaccine                           
 business and launch HEPLISAV-B®, Dynavax is delivering long-term returns for stockholders. |

| o | Dynavax successfully commercialized and positioned                                                                                 
 HEPLISAV-B® to be the market-leading hepatitis B vaccine with $268 million in net product revenue in 2024 and                      
 approximately 44% U.S. market share at year end 2024. Dynavax reported record first quarter 2025 earnings results with HEPLISAV-B® 
 net product revenue of $65 million, which represents 36% increase year-over-year, and total revenue of $68.2 million, which        
 represents 34% increase year-over-year.                                                                                            |

| o | The Company’s successful business development strategy during                      
 the pandemic generated over $950 million in net product revenue from 2020 to 2022. |

| o | The Board and management team are executing a thoughtful and deliberate                                                              
 capital allocation strategy that balances strategic investment in growth through pursuit of internal and external assets and         
 opportunistically returning capital to stockholders. Dynavax is one of the few vaccine companies that has returned meaningful        
 capital to stockholders and has executed over 85% of its $200 million share repurchase program authorized in November 2024. The $200 
 million share repurchase program represents 47%1 of                                                                                  
 Dynavax’s use of capital.                                                                                                            |

| · | Dynavax has the optimal Board with uniquely qualified directors 
 to drive the Company’s value creation potential.                |

| o | Dynavax has implemented a proactive, strategic and extensive Board                                                                
 refreshment plan. Following the 2025 Annual Meeting, the Board will be comprised of nine directors, with six of eight independent 
 directors having been appointed since 2020.                                                                                       |

| o | Dynavax’s director nominees, including the Board’s Chairman –                                                                 
 Brent MacGregor, Scott Myers, Lauren Silvernail and Elaine Sun – bring proven strategic leadership, vaccine expertise, senior 
 public biotechnology and M&A experience and deep industry financial expertise.                                                |

Use of capital from 2020 to present, excluding
CapEx and SG&A expense; reflects full execution of the $200 million share repurchase program.

Page 1 of 4

| o | The Board has strengthened accountability and oversight through a phased 
 board declassification.                                                  |