Valneva Shareholders Approve all Resolutions Recommended by the Management Board at the Annual General Meeting

Valneva SE (“Valneva” or “the Company”), a biotech company developing and commercializing vaccines for infectious diseases with major unmet needs, today announced that all resolutions recommended by the Management Board were approved by the shareholders at its Annual General Meeting held in Paris on June 27, 2019.

The resolutions adopted by Valneva’s shareholders included the 2018 financial statements, the delisting of Valneva’s ordinary shares from the Vienna Stock Exchange, and delegations for the management board to increase the share capital and/or to issue financial instruments.

Additionally, the term of office of Supervisory Board members Frédéric Grimaud, Alexander von Gabain, James Sulat, Anne-Marie Graffin and Louisa Mary Shaw-Marotto has been renewed until June 2022. Valneva’s Supervisory Board now comprises seven members, including Dr. Balaji Muralidhar and Ms. Sandra Poole whose term of office runs until June 2020.

Former Supervisory board members Dr. Ralf Clemens and Dr. Alain Munoz are expected to join Valneva’s Scientific Advisory Board (SAB) which will be formed in the near future.

The detailed voting results of the AGM will be made available in the “Investors & Media” section of the Company’s corporate website at the beginning of next week.

About Valneva SE

Valneva is a biotech company developing and commercializing vaccines for infectious 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 a unique vaccine against Lyme disease. Valneva has operations in Austria, Sweden, the United Kingdom, France, Canada and the US with approximately 480 employees. More information is available at www.valneva.com.

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 forwardlooking 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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