Saint-Herblain (France), September 18, 2020 – Valneva SE (“Valneva”), a specialty vaccine company focused on prevention of diseases with major unmet needs, today announced the retirement of its Chief Financial Officer, David Lawrence, at the end of 2020.

The Company has initiated a search process with a leading global recruitment agency to identify a new CFO, aiming for an on-boarding in the first quarter of 2021.

Until the end of the year, David will manage a handover process to ensure a smooth transition with Manfred Tiefenbacher, VP Finance, who will assume responsibility for all operational finance matters.

In addition, David has agreed to continue to support Valneva’s CEO in an advisory capacity in the early part of 2021.

Thomas Lingelbach, Chief Executive Officer of Valneva, said, “We would like to thank David for his great contributions to the Company and its strategic development over the past three years. He has played a pivotal role in building and executing the Company’s capital formation strategy and most recently in our global COVID-19 efforts including, in particular, the wonderful partnership with the UK government. We wish him well in his retirement.”

David Lawrence, Chief Financial Officer of Valneva, said, “The last three years with Valneva have been extremely exciting and rewarding. For personal reasons, I have decided to retire at the end of the year. I am handing over the CFO role with solid financials and with a great team. Valneva has tremendous prospects and I am looking forward to watching its future successes.”

About Valneva SEValneva is a specialty vaccine company focused on prevention against diseases with major unmet needs. Valneva’s portfolio includes two commercial vaccines for travelers: IXIARO®/JESPECT® indicated for the prevention of Japanese encephalitis and DUKORAL® indicated for the prevention of cholera and, in some countries, prevention of diarrhea caused by ETEC. The Company has various vaccines in development including unique vaccines against Lyme disease, chikungunya and COVID-19. Valneva has operations in Austria, Sweden, the United Kingdom, France, Canada and the US with over 500 employees. For more information, visit www.valneva.com and follow the Company on LinkedIn.

Valneva Forward-Looking Statements

This press release contains certain forward-looking statements relating to the business of Valneva, including with respect to the progress, timing and completion of research, development and clinical trials for product candidates, the ability to manufacture, market, commercialize and achieve market acceptance for product candidates, the ability to protect intellectual property and operate the business without infringing on the intellectual property rights of others, estimates for future performance and estimates regarding anticipated operating losses, future revenues, capital requirements and needs for additional financing. In addition, even if the actual results or development of Valneva are consistent with the forward-looking statements contained in this press release, those results or developments of Valneva may not be indicative of their in the future. In some cases, you can identify forward-looking statements by words such as "could," "should," "may," "expects," "anticipates," "believes," "intends," "estimates," "aims," "targets," or similar words. These forward-looking statements are based largely on the current expectations of Valneva as of the date of this press release and are subject to a number of known and unknown risks and uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievement expressed or implied by these forward-looking statements. In particular, the expectations of Valneva could be affected by, among other things, uncertainties involved in the development and manufacture of vaccines, unexpected clinical trial results, unexpected regulatory actions or delays, competition in general, currency fluctuations, the impact of the global and European credit crisis, and the ability to obtain or maintain patent or other proprietary intellectual property protection. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements made during this presentation will in fact be realized. Valneva is providing the information in these materials as of this press release, and disclaim any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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