Stephane Bancel - 07 May 2021 Form 4 Insider Report for Moderna, Inc. (MRNA)

Footnote F1

This sale was effected pursuant to a Rule 10b5-1 trading plan adopted on December 28, 2018.

Footnote F2

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $160.94 to $161.39. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F3

These shares are owned directly by a trust for the benefit of Mr. Bancel's children and of which the trustee is an independent institution. The reporting person disclaims Section 16 beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.

Footnote F4

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $162.08 to $163.08. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F5

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $163.09 to $164.07. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F6

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $164.13 to $165.01. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F7

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $165.29 to $165.98. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F8

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $166.54 to $167.51. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F9

The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $168.04 to $168.99. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

Footnote F10

These shares are owned directly by OCHA LLC ("OCHA"). The reporting person is the majority equity unit holder and the sole managing member of OCHA. The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.

Footnote F11

These shares are owned directly by Boston Biotech Ventures, LLC ("Boston Biotech"). The reporting person is the majority equity unit holder and the sole managing member of Boston Biotech. The reporting person disclaims Section 16 beneficial ownership of these securities, except to the extent of his pecuniary interest therein, if any, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for Section 16 or any other purpose.