On September 14, 2021, Regeneron Pharmaceuticals, Inc. (“ Regeneron” or the “ Company”) entered into a modified Statement of Work (the “ Amendment”) under the supply agreement (the “ Supply Agreement”) with the Army Contracting Command, New Jersey, an entity acting on behalf of the U.S. Department of Defense and the U.S. Department of Health and Human Services (collectively, the “ U.S. Government”), to supply to the U.S. Government an additional 1.4 million doses of REGEN-COVTM (casirivimab and imdevimab), the Company’s cocktail of two monoclonal antibodies that has received an Emergency Use Authorization from the U.S. Food and Drug Administration (the “ FDA”) for use in certain individuals in the United States. Pursuant to the Supply Agreement, as amended by the Amendment (the “ Amended Supply Agreement”), the U.S. Government is obligated to purchase all such filled and finished doses of drug product delivered to vendor-managed inventory by January 31, 2022. Regeneron is required to deliver at least 100,000 doses by the end of each of September, October, November, and December 2021, with the remaining doses to be delivered by January 31, 2022, and to use commercially reasonable efforts to deliver doses early. In addition, the Amendment sets forth a good faith obligation to deliver filled and finished doses of drug product based on a non-binding monthly schedule that, if met, would result in the delivery of all doses by the end of 2021. The U.S. Government will acquire doses at the lowest therapeutic dose (other than a pediatric dose) authorized or approved by the FDA prior to or on the date of delivery for a price of $2,100 per dose, resulting in payments to Regeneron of $2.940 billion in the aggregate based on the delivery of 1.4 million doses, and will be obligated to pay for partial deliveries. A number of factors may impact available filled and finished supply, including manufacturing considerations. The Company is also obligated to distribute the filled and finished drug product to patient care sites as directed by the U.S. Government. The Amended Supply Agreement contains terms and conditions that are customary for U.S. Government agreements of this nature, including provisions giving the U.S. Government the right to terminate the Amended Supply Agreement for convenience. If the Amended Supply Agreement is terminated for convenience prior to completion, Regeneron is entitled to be paid certain termination costs, including the percentage of the contract price reflecting the percentage of work performed plus certain reasonable charges resulting from termination.