Vaxart (VXRT) investor relations material

Executive summary

• Shareholders are urged to vote for all six director nominees on the WHITE proxy card ahead of the July 16, 2026 Annual Meeting, emphasizing the board's relevant experience and recent additions with an average tenure of 2.3 years.

• The board highlights ongoing execution of a milestone-driven strategy, including clinical advancements, financial strengthening, and strategic partnerships to unlock value in its oral vaccine platform.

• Forward-looking statements address expectations for clinical trial results, regulatory milestones, and partnership opportunities, while cautioning about inherent risks and uncertainties.

Voting matters and shareholder proposals

• Shareholders are asked to elect six director nominees on the WHITE proxy card; a dissident group is proposing three alternative nominees lacking relevant biotech or public company experience.

• The board warns that electing dissident nominees could disrupt execution of the company's strategy at a critical stage.

Board of directors and corporate governance

• Two directors joined within the last year, and the board's average tenure is 2.3 years, bringing expertise in biotech, clinical trials, regulatory affairs, and public company governance.

• CEO Steven Lo has led key initiatives, including securing BARDA funding, negotiating strategic partnerships, and implementing cost-saving measures.

• Dr. Elaine J. Heron and Dr. David Wheadon bring extensive experience in drug development, regulatory affairs, and public company board service.

• The board asserts that continuity and experienced oversight are essential for ongoing clinical and strategic initiatives.