Moderna plans private placement of $2 billion convertible senior notes due 2032

• Moderna launched a private placement of USD 2 billion Convertible Senior Notes due 2032, marketed to qualified institutional buyers.
• An option allows initial purchasers to buy up to an additional USD 300 million of notes within 13 days of issuance.
• Net proceeds earmarked for capped call transactions, general corporate purposes, oncology investment flexibility, debt repayment.
• Notes are senior unsecured, zero-coupon, non-accreting; settlement on conversion may be cash, shares, or a mix.
• Capped call cap price set at least 150% above the stock price at pricing, aiming to limit dilution from conversions.

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