NOVAVAX INC

The Board has adopted a Code of Conduct (“Code of Conduct” or “NovaCode”) that applies to each employee, officer, and director, including but not limited to, our principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions. The Code of Conduct is reviewed at least annually by the Nominating and Corporate Governance Committee and acknowledged on an annual basis by the Company’s employees. A current copy of the Code of Conduct is available on the Company’s website atwww.novavax.com. The Company intends to post on its website all disclosures that are required by law or the rules of the Nasdaq concerning any future amendments to and waivers of the Code of Conduct .