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© 2026 Moderna, Inc. All rights reserved. Cover slide headline Subhead here Author, Jan. 2026 Moderna Oncology Event October 24, 2026
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© 2026 Moderna, Inc. All rights reserved. Forward-looking statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: intismeran'spotential in cancer care and to set a new benchmark for adjuvant melanoma treatment; intismeran's clinical development program, including ongoing clinical trials and the timing of potential readouts; the potential of intismeran in other tumor types and across settings; Phase 1 pancreatic cancer data; efficacy and safety; the trend in overall survival data; the ability for intismeran to be supplied at scale; and the potential long-term benefit of intismeran. In some cases, forward-looking statements can be identified by terminology such as “will, ” “may, ” “should, ” “could, ” “expects, ” “intends, ” “plans, ” “aims, ” “anticipates, ” “believes, ” “estimates, ” “predicts, ” “potential, ” “continue, ” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. The forward-looking statements in this presentation are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this presentation in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this presentation.
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© 2026 Moderna, Inc. All rights reserved. Agenda Intismeran: Advancing individualized cancer immunotherapy David Berman, MD, PhD Chief Development Officer, Moderna INTerpath-001: Phase 3 Study of the mRNA-Based Individualized Neoantigen Therapy (INT) Intismeran Autogene plus Pembrolizumab vs Pembrolizumab Alone for Adjuvant Treatment of Resected Stage IIB-IV Melanoma Georgina Long, AO BSc PhD MBBS FRACP FAHMS AAHMS FAA FASCO Medical Director of Melanoma Institute Australia Conclusion David Berman, MD, PhD Chief Development Officer, Moderna Key opinion leader perspectives Paolo Ascierto, MD Department of Skin Cancers, Cancer Immunotherapy and Development Therapeutics, National Cancer Institute IRCCS, Fondazione G. Pascale Naples Antoni Ribas, MD, PhD Professor of Medicine, Surgery, and Molecular and Medical Pharmacology, UCLA Q&A 3
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© 2026 Moderna, Inc. All rights reserved. Intismeran: Advancing individualized cancer immunotherapy David Berman, MD, PhD Chief Development Officer, Moderna
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© 2026 Moderna, Inc. All rights reserved. Immune surveillance controls emerging cancer cells 5 Immune system detects cancer antigens (neoantigens) Neoantigens drain to lymph node and are presented by antigen presenting cells (APC) to T cells Activated T cells eliminate cancer Neoantigen-reactive T cells are activated and target the cancer Gavin P., et al. 2004. The Three Es of Cancer Immunoediting. Annual Review of Immunology 22:329-360.
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© 2026 Moderna, Inc. All rights reserved. Cancers can escape immune surveillance when… 6 APCs do not activate T cells Insufficient neoantigen processing, presentation, or T cell activation T cells become exhausted e.g. PD1/PDL1
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© 2026 Moderna, Inc. All rights reserved. Checkpoints act on T cells, but are limited by available neoantigens 7
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© 2026 Moderna, Inc. All rights reserved. Intismeran optimizes neoantigen presentation 8
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© 2026 Moderna, Inc. All rights reserved. How intismeran activates tumor-specific T cells 9 1 2 Polyfunctional T cells Cytokines support CD4+ and CD8+ T-cell proliferation, differentiation, and acquisition of effector functions High neoantigen expression Neoantigen-derived peptides produced and presented in antigen presenting cell Algorithm selects most promising neoantigens mRNA-LNP delivers neoantigens to APCs in lymph node Optimal environment Activation in lymph node away from immunosuppressive tumor microenvironment mRNA-LNP Lymph node Tumor
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© 2026 Moderna, Inc. All rights reserved. RFS benefit maintained through 5-year follow up ᵃFormal hypothesis testing of RFS (overall one-sided α=0.10) was performed at primary analysis (Nov 2022 data cut). 1. Weber JS, et al. Lancet. 2024;403(10427):632-644. 10 5-year KEYNOTE-942 data, oral abstract presentation, ASCO 2026
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© 2026 Moderna, Inc. All rights reserved. 11 5-year KEYNOTE-942 data, oral abstract presentation, ASCO 2026 Intismeran plus pembrolizumab induces more novel T cell clones
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© 2026 Moderna, Inc. All rights reserved. 12 5-year KEYNOTE-942 data, oral abstract presentation, ASCO 2026 Patients without recurrence on intismeran plus pembrolizumab showed greater expansion of novel T cell clones
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© 2026 Moderna, Inc. All rights reserved. 13 Number of immunogenic neoantigens * Hotspot mutation Neoantigens recognized by patient’s T cells • On average 1 of 3 selected neoantigens induce T cell response • Induces both CD4 and CD8 neoantigen reactive T cells 5-year KEYNOTE-942 data, oral abstract presentation, ASCO 2026 Intismeran induces neoantigen-specific T cells
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© 2026 Moderna, Inc. All rights reserved. 14 Intracellular cytokine staining (ICS) of neoantigen reactive T cells from patient #3 Phase 2 translational data, poster presentation, ASCO 2026 The CD8+ and CD4+ neoantigen T cells are polyfunctional and cytotoxic Polyfunctional markers Cytotoxic markers
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© 2026 Moderna, Inc. All rights reserved. 15 Method: AIM-based enrichment of CD4+ and CD8+ T cells ex vivo or after in vitro expansion; a >=5-cell threshold per clonotype(n=57 for neoantigen 14, n=38 for neoantigen 27, n=28 for neoantigen 28) Phase 2 translational data, poster presentation, ASCO 2026 Neoantigen 14; CD8+ Neoantigen 27; CD4+ & CD8+ Neoantigen 28; CD4+ & CD8+ Multiple T cell clones recognize same neoantigens The neoantigen-specific T cell clones detected after intismeran
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© 2026 Moderna, Inc. All rights reserved. 16 Phase 3 INTerpath-001 adjuvant melanoma results shared at ESMO 2026
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© 2026 Moderna, Inc. All rights reserved. Georgina Long AO BSc PhD MBBS FRACP FAHMS AAHMS FAA FASCO Medical Director of Melanoma Institute Australia (MIA), and Chair of Melanoma Medical Oncology and T ranslational Research at MIA and Royal North Shore Hospital, The University of Sydney 17
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© 2026 Moderna, Inc. All rights reserved. INTerpath-001: Phase 3 Study of the mRNA-Based Individualized Neoantigen Therapy (INT) Intismeran Autogene plus Pembrolizumab vs Pembrolizumab Alone for Adjuvant Treatment of Resected Stage IIB- IV Melanoma Georgina Long, AO BSc PhD MBBS FRACP FAHMS AAHMS FAA FASCO Medical Director of Melanoma Institute Australia REPRISE: ESMO 2026 PRESENTATION Georgina V . Long; Muhammad A. Khattak; Helen J. Gogas; Dirk Schadendorf; Ana Arance; Matteo S. Carlino; Piotr Rutkowski; Gareth Rivalland; Antoni Ribas; Janice M. Mehnert; Patrick A. Ott; Reinhard Dummer; Paola Queirolo; Christoffer Gebhardt; Laureen S. Ojalvo; Jinchun Zhang; Dmitri O. Grebennik; Mizuho Fukunaga-Kalabis; Paolo A. Ascierto; Michele Del Vecchio on behalf of the INT erpath-001 Investigators 1Westmead and Blacktown Hospitals, Melanoma Institute Australia, and The University of Sydney, Sydney, NSW, Australia; 2One Clinical Research, Hollywood Private Hospital and Edith Cowan University, Perth, WA, Australia; 3Saint John of God Subiaco Hospital, Subiaco, WA, Australia; 4Washington University School of Medicine, St. Louis, MO, USA; 5Earle A. Chiles Research Institute, Providence Cancer Institute, Portland, OR, USA; 6California Pacific Medical Center Research Institute, San Francisco, CA, USA; 7Sarah Cannon Research Institute, Nashville, TN, USA; 8Melanoma Institute Australia, The University of Sydney, and Royal North Shore and Mater Hospitals, Sydney, NSW, Australia; 9Massachusetts General Hospital, Harvard Medical School, Boston, MA, USA; 10The Angeles Clinic and Research Institute, a Cedars-Sinai affiliate, Los Angeles, CA, USA; 11Smilow Cancer Center at Yale New Haven Hospital, New Haven, CT, USA; 12Texas Oncology PA, Dallas, TX, USA; 13Hackensack University Medical Center, Hackensack, NJ, USA; 14University of Colorado Cancer Center, Aurora, CO, USA; 15Princess Alexandra Hospital, Brisbane, QLD, Australia; 16Merck & Co., Inc., Rahway, NJ, USA; 17Moderna, Inc., Cambridge, MA, USA; 18Laura and Isaac Perlmutter Cancer Center at NYU Langone Health, New York, NY, USA
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© 2026 Moderna, Inc. All rights reserved. Conclusion David Berman, M.D, PhD Chief Development Officer, Moderna
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© 2026 Moderna, Inc. All rights reserved. Beyond melanoma, unmet need remains across adjuvant cancer settings 1. Galsky, Matthew D., et al. “Adjuvant Nivolumab versus Placebo for High-Risk Muscle-Invasive Urothelial Carcinoma: 5-Year Efficacy and ctDNA Results from CheckMate 274.” Annals of Oncology, vol. 37, no. 1, 2026, pp. 69–78 , 2. Merck & Co., Inc. KEYNOTE-091: Clinical Trial Results & Study Design. KEYTRUDA® (pembrolizumab) HCP website. Accessed May 27, 2026, 3. Klaassen Z. ASCO 2025: Five-year follow-up results from the phase 3 KEYNOTE-564 study of adjuvant pembrolizumab for the treatment of clear cell RCC. UroToday. Published during the American Society of Clinical Oncology 2025 Annual Meeting, May 30-June 3, 2025. Accessed May 27, 2026., 4. Janjigian, Yelena Y., et al. “Perioperative Durvalumab in Gastric and Gastroesophageal Junction Cancer.” New England Journal of Medicine, vol. 393, no. 3, 16 July 2025, pp. 217–230, 5. Conroy, Thierry, et al. “Five-Year Outcomes of FOLFIRINOX vs Gemcitabine as Adjuvant Therapy for Pancreatic Cancer: A Randomized Clinical Trial.” JAMA Oncology, vol. 8, no. 11, 2022, pp. 1571–1578 Estimated recurrence rate with adjuvant checkpoint inhibitors Bladder cancer (MIUC) ~64% recurrence rate at 5 years 1 Lung cancer ~48% recurrence rate at 4 years 2 Renal cancer ~39% recurrence rate at 5 years 3 ~33% event rate at 2 years **4 Gastric/ GEJ cancer ~74% recurrence rate at 5 years with FOLFIRINOX *5 Pancreatic cancer *No Phase 3 data from checkpoint inhibitor; **Event rate as EFS is the endpoint in the peri-operative setting. 46
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© 2026 Moderna, Inc. All rights reserved. Phase 2 adjuvant melanoma data strengthen confidence in intismeran's potential across multiple cancer indications Similar RFS benefit in Ph 2 between TMB High vs Non- High Red text: Checkpoint inhibitors are approved for treatment of this cancer indication * Primarily MSI-H/dMMR disease TMB cut-off 47
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© 2026 Moderna, Inc. All rights reserved. Open-label, phase 1 study in adults with resected pancreatic ducal adenocarcinoma Study overview • Pancreatic adenocarcinoma following complete macroscopic resection Study objectives • Feasibility of intismeran from low TMB tumor • Safety and tolerability with chemotherapy Study endpoints • Primary: safety and feasibility • Secondary: Recurrence-free survival (RFS) • Exploratory: Immunogenicity as exploratory endpoint by IFN-γ ELISpot and TCR sequencing. NCT03313778 48
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© 2026 Moderna, Inc. All rights reserved. Phase 1 pancreatic cancer data demonstrate neoantigen- specific T-cell responses following intismeran treatment Patient population • Twenty patients (pts) (stage IA–III) treated, including 7 who received prior neoadjuvant therapy. Tumor characteristics • Low TMB (range 0.26 to 2.75 mutations/Mb) and KRAS mutations in 65% (n = 13). Biomarker results • The median number of encoded neoantigens per intismeran was 34. • Among 19 immunogenicity-evaluable pts, all 19 had neoantigen-specific T cell responses • In a subset of pts with apheresis, intismeran-specific neoantigens drove polyfunctional T cell response. • T cell responses increased over time following intismeran; higher responses following intismeran dosing after FOLFIRINOX. Conclusions • Adjuvant intismeran with FOLFIRINOX induced neoantigen-specific T cells in all evaluable PDAC, a low-TMB malignancy Full poster to be presented Sunday October 25 at 12:00 – 12:45 PM CET at ESMO 2026 49
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© 2026 Moderna, Inc. All rights reserved. Intismeran’s clinical development program Partnered with Merck 50
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© 2026 Moderna, Inc. All rights reserved. Perspectives 51 Paolo Ascierto, MD Department of Skin Cancers, Cancer Immunotherapy and Development Therapeutics, National Cancer Institute IRCCS, Fondazione G. Pascale Naples Antoni Ribas, MD, PhD Professor of Medicine, Surgery, and Molecular and Medical Pharmacology, UCLA; Director of the T umor Immunology Program, Jonsson Comprehensive Cancer Center, director of the Parker Institute for Cancer Immunotherapy Center at UCLA
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© 2026 Moderna, Inc. All rights reserved. Q&A