BioNTech : Annual financial statements of BioNTech SE as of 31 December 2022

Annual Financial Statements of BioNTech SE, Mainz, December 31, 2022

In case of deviations of the English version of this document from the German version, the German version shall prevail.

Statements of Financial Position	2
Statements of Profit or Loss	3
Notes to the Annual Financial Statements	5
1 General Notes on the Annual Financial Statements	5
2 Notes on Accounting Policies	5
3 Notes to the Statements of Financial Position and the Statements of Profit or Loss	7
3.1	Intangible Assets and Property, Plant and Equipment	7
3.2	Financial Assets	8
3.3	Receivables and Other Assets	10
3.4	Cash on Hand and at Banks	10
3.5	Prepaid Expenses	10
3.6	Equity	10
3.7	Proposal for the Appropriation of Profit or Loss	12
3.8 Tax Provisions	12
3.9	Other Provisions	12
3.10	Liabilities	13
3.11 Deferred Income	13
3.12 Deferred Tax	13
3.13	Off-Statement of Financial Position Transactions and Other Financial	13
Obligations
3.14	Revenues	14
3.15 Cost of Sales	14
3.16	Research and Development Expenses	14
3.17	Sales and Marketing Expenses	14
3.18	General and Administrative Expenses	14
3.19	Other Operating Income	15
3.20	Other Operating Expenses	15
3.21	Financial Result	15
3.22	Other Notes to the Statements of Profit or Loss	15
3.23	Other Notes / Corporate Bodies	17
Statements of Changes in Fixed Assets	30

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BioNTech SE, Mainz

Statements of Financial Position as of December 31, 2022

Assets

1. Fixed assets

1. Intangible assets

1. Purchased concessions, industrial and similar rights and assets, and licenses in such rights and assets
2. Goodwill
3. Advanced payments

1. Property, plant and equipment

1. Land, land rights and buildings, including buildings on third-party land
2. Other equipment, furniture and fixtures
3. Advanced payments and construction in progress

1. Financial assets

1. Shares in affiliated companies
2. Loans to affiliated companies
3. Equity investments
4. Other loans

1. Current assets

1. Inventories

1. Raw materials and supplies
2. Advanced payments

1. Receivables and other assets

1. Trade receivables
2. Receivables from affiliated companies
3. Other assets

1. Cash on hand and at banks

1. Prepaid expenses

2

	December 31,	December 31,
	2022	2021
in millions	in millions	in millions

€59.8	€44.1
1.7	1.8
10.4	6.9
€71.9	€52.8
35.4	4.5
30.2	21.6
34.3	20.9
€99.9	€47.0
613.4	409.0
597.4	326.6
66.7	19.5
2.2	0.5
€1,279.7	€755.6
€1,451.5	€855.4
0.7	1.0
-	0.6
€0.7	€1.6
5,585.4	10,957.3
1,540.5	1,749.2
147.4	408.4
€7,273.3	€13,114.9
13,798.0	1,396.8
€21,072.0	€14,513.3
63.5	24.5
€21,135.5	€14,537.8
€22,587.0	€15,393.2

Equity and liabilities	December 31,	December 31,
2022	2021
		in millions	in millions	in millions
A.	Equity
I.	Share capital	€248.6	€246.3
	Treasury shares	(5.3)	(3.8)
	Issued (share) capital	243.3	242.5
	Conditional capital: €85.8 million (previous year: €24.6
II.	Capital reserve	1,295.4	1,883.8
III.	Retained earnings	9,445.4	5,132.4
IV.	Accumulated profit	8,961.2	5,132.3
			€19,945.3	€12,391.0

1. Provisions

1	Tax provisions	606.1	1,573.3
2	Other provisions	923.3	1,096.2
		€1,529.4	€2,669.5

1. Liabilities

1	Bonds	-	100.4
	thereof convertible: nil (previous year: €100.4
	million)
2	Trade payables	57.2	55.1
3	Liabilities to affiliated companies	389.6	71.6
4	Other liabilities	651.6	13.4
	thereof for taxes: €622.9 million (previous year:
	€2.5 million)
	thereof for social security: €1.7 million (previous
	year: €0.4 million)
		€1,098.4	€240.5
D.	Deferred income	13.9	19.9
E.	Deferred tax liabilities	-	72.3
		€22,587.0	€15,393.2

3

BioNTech SE, Mainz

Statements of Profit or Loss for the Period from January 1, 2022 to December 31, 2022

1

2

3

4

5

6

7

8

9

Revenues Cost of sales Gross profit

Research and development expenses Sales expenses

General and administrative expenses Other operating income

thereof income from currency translation: €801.2

million (previous year: €466.4 million) Other operating expenses

Income from profit transfer

thereof from affiliated companies: €2,856.6

	Years ended December 31,
	2022	2021
in millions	in millions	in millions
€12,514.5		€14,933.8
(1,615.7)		(1,642.0)
	€10,898.8	€13,291.8
(1,519.7)		(816.2)
(29.1)		(12.8)
(475.4)		(226.4)
1,041.3		638.9
(717.1)		(118.0)
	€(1,700.0)	€(534.5)
2,863.3		2,691.6

10	million (previous year: €2,691.6 million)
Other interest and similar income	51.8	6.0
	thereof from affiliated companies: €7.1 million
11	(previous year: €4.5 million)
Interest and similar expenses	(30.9)	(19.1)
	thereof to affiliated companies: €19.1 million
12	(previous year: nil)
Expenses from loss transfer	(86.9)	(52.2)
		€2,797.3	€2,626.3
13	Income taxes	(3,370.1)	(4,606.0)
14	Profit after tax	8,626.0	10,777.6
15	Net income	€8,626.0	€10,777.6
16	Profit / (loss) carryforward from the previous year	4,648.2	(512.9)
17	Allocations to retained earnings	(4,313.0)	(5,132.4)
18	Accumulated profit	€8,961.2	€5,132.3

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Notes to the Annual Financial Statements

1 General Notes on the Annual Financial Statements

The annual financial statements of BioNTech SE, hereinafter also referred to as the "Company," "BioNTech," "we" or "us," for the period from January 1 to December 31, 2022, have been prepared in accordance with the provisions of the German Commercial Code (HGB) and the German Stock Corporation Act (AktG).

BioNTech SE is a European limited liability company incorporated and domiciled in Germany and is registered in the commercial register B of the Mainz Local Court under the number HRB 48720. American Depositary Shares (ADSs) representing BioNTech SE's ordinary shares have been publicly traded on Nasdaq Global Select Market since October 10, 2019. The registered office is located in Mainz, Germany (An der Goldgrube 12, 55131 Mainz).

The Mainz-based Company is a large corporation as defined by Section 267 para. 3 HGB. Thus the Company is subject to the requirements for large corporations.

The accompanying annual financial statements have been prepared on a going concern basis and in accordance with Section 242 et seq. and Section 264 et seq. HGB as well as in accordance with the relevant provisions of the AktG.

The separate financial statements are published in euros. Unless otherwise stated, the numbers are rounded to millions or thousands of euros. Accordingly, numerical figures shown as totals in some tables may not be exact arithmetic aggregations of the figures that preceded them and figures presented in the explanatory notes may not add up to the rounded arithmetic aggregations. The rounding applied may differ from that published in previous years in different units.

The statements of profit or loss have been prepared using the cost of sales method in accordance with Section 275 para. 3 HGB.

2 Notes on Accounting Policies

The following accounting policies were used to prepare the annual financial statements.

Purchased intangible assets with finite useful lives are recognized at cost and amortized on a straight-line basis over their estimated useful lives.

Purchased goodwill is amortized over its estimated useful life of 15 years, reflecting the period over which purchased goodwill will create a benefit.

Depreciable items of property, plant and equipment are valued at acquisition cost less accumulated depreciation. Depreciation is charged on a straight-line basis over the expected useful life. Advanced payments and construction in progress are valued at acquisition or production cost. Borrowing costs are not included in production cost.

Low-value assets of up to €800 are fully expensed in the year of acquisition.

With regard to financial assets, shares in affiliated companies and equity investments are recognized at the lower of acquisition cost or net realizable value, while loans to affiliated companies and other loans are recognized at the lower of their nominal value or net realizable value.

Raw materials and supplies are recognized at the lower of acquisition cost or net realizable value.

Receivables and other assets are stated at nominal value. Appropriate specific bad debt allowances provide for all foreseeable valuation risks.

Cash and cash equivalents are stated at nominal value.

Expenses recorded before the reporting date which relate to a certain period after this date are posted under prepaid expenses.

When accounting for share-based payment awards, we distinguish between cash-settled and equity-settled transactions. For both instruments, the fair value is measured at grant date and then spread evenly as remuneration expense over the period in which the employees earn an unconditional entitlement to the instruments. For equity-settled

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transactions, the recognition of expenses leads to an increase in the capital reserve, whereas expenses recognized for cash- settled transactions give rise to a liability. If the Company can choose whether to settle the awards either in cash or by providing equity instruments, we account for them as equity-settled transactions, unless there is a present obligation to settle in cash or the transaction is settled in cash. Whenever we decide to settle in cash or there is a present obligation to settle in cash, any positive difference between the amount (to be) paid in cash and the fair value at grant date is recognized as an additional expense. In accordance with international accounting rules for share-based payment transactions between group companies, we do not only account for share-based payments to employees of BioNTech SE but also for commitments to employees of subsidiaries that are fulfilled by BioNTech SE. When these beneficiaries are not employees of BioNTech SE, the expenses are recognized in other operating expenses.

Treasury shares are deducted from share capital on the face of the statements of financial position at their nominal value. The difference between the nominal value and the acquisition cost of the acquired shares is offset against the capital reserve. Expenses from the acquisition of treasury shares are recognized in expenses in the current financial year.

Tax provisions and other provisions account for all identifiable risks, uncertain liabilities and onerous contracts. They are valued at the settlement value deemed necessary according to prudent business judgment. Future price and cost increases are factored in.

Foreign exchange forward contracts are not recognized as hedges pursuant to Section 254 HGB. The foreign exchange forward contracts are valued using valuation techniques which employ the use of foreign exchange spot and forward rates. Contracts with a negative value as of the reporting date are accounted for under other provisions in the statements of financial position.

Liabilities are recognized at the settlement value.

Liabilities from the issue of mandatory convertible notes are recognized in accordance with the gross method, whereby the total amount of a note is reduced by the conversion right conferred by that note. The net amount is transferred to the capital reserve.

Advanced payments received in connection with research and development collaborations are recognized as deferred income and released to profit or loss over the term of the contract.

If there are differences between the carrying amounts of assets, liabilities, prepaid expenses and deferred income in the statutory accounts and their tax base which are expected to reverse in future financial years, any resulting net tax charge is recognized as a deferred tax liability in the statements of financial position. Any resulting net tax benefit may be recognized as a deferred tax asset. Tax loss carryforwards are taken into account in the calculation of deferred tax assets to the extent that they are expected to be offset within the next five years. The resulting tax charge and benefit amounts are determined using the company-specific tax rates at the time the differences reverse and are not discounted. If deferred tax assets match the existing deferred tax liabilities, these are presented as a net item. The option to recognize net deferred tax assets in excess of deferred tax liabilities was not exercised. Differences between the carrying amounts of assets, liabilities and prepaid expenses and deferred income in the statutory accounts and the tax bases of tax group subsidiaries are included to the extent that BioNTech SE expects future tax charges and benefits from the reversal of temporary or quasi-permanent differences.

Assets and liabilities denominated in foreign currencies were translated using the mean spot rate of exchange on the reporting date. If they had residual terms of more than one year, the realization principle (Section 252 para. 1 no. 4 clause 2 HGB) and the historical cost principle (Section 253 para. 1 sentence 1 HGB) were applied.

The "thereof" items presented in the statements of profit or loss include both realized and unrealized currency translation differences.

Revenues from the sale of goods are recognized when the significant opportunities and risks of ownership have been transferred to the buyer and the amount of revenues to be recognized can be measured reliably. Revenues from services are recognized when the service is rendered. No revenue is recognized when there are significant risks involving the receipt of the consideration or the possible return of goods. All other revenues are recognized net of sales deductions such as bonuses, discounts or rebates.

For our COVID-19 collaborations, revenues are recognized on the basis of our collaboration partners' gross profit from COVID-19 vaccine sales generated in territories allocated to these partners based on marketing and distribution rights. Our territory comprises Germany and Turkey. In determining the revenues pursuant to these collaboration

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agreements, we are reliant on our collaboration partners for details and, to a certain extent, on estimates. As a result, the revenues pursuant to these collaboration agreements are subject to the risk that the amounts reported might differ from the actual amounts until our collaboration partners' final results are available.

Government grants are recognized where there is reasonable assurance that the grant will be received and all attached conditions will be complied with. When the grant relates to an expense item, it is recognized as income on a systematic basis over the periods that the related costs, for which the grant is intended to compensate, are expensed. When the grant relates to an asset, it is recognized as deferred income within the statements of financial position. Other operating income is subsequently recognized in profit or loss over the useful life of the underlying asset subject to funding.

Research and development expenses are expensed as incurred.

3 Notes to the Statements of Financial Position and the Statements of Profit or Loss

3.1 Intangible Assets and Property, Plant and Equipment

The development of the individual fixed asset items, including amortization, depreciation and impairment for the financial year, is shown in the statements of changes in fixed assets. The statements of changes in fixed assets are attached to these notes.

Fixed assets are amortized/depreciated on a straight-line basis over the following terms:
Amortization/depreciation period by type of
asset		Useful life (years)
Intangible assets
Patents, industrial rights			8	-		20
Licenses			3	- 10
Goodwill				15
Software			3	- 8
Property, plant and equipment
Buildings			10	- 33
IT systems			3	- 5
IT hardware			1
Large laboratory equipment		8	- 10
Small laboratory equipment		3	- 5
Office fixtures and fittings		10	- 15

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3.2 Financial Assets
	As of			As of December
(in millions)	Additions	Disposals
		January 1, 2022			31, 2022
1.	Shares in affiliated companies	€409.0	€204.4	€-	€613.4
2.	Loans to affiliated companies	326.6	342.5	71.7	597.4
3.	Equity investments	19.5	47.2	-	66.7
4.	Other loans	0.5	1.9	0.2	2.2
Total	€755.6	€596.0	€71.9	€1,279.7

Additions to shares in affiliated companies of €204.4 million were recognized in the 2022 financial year. They mainly include €161.1 million relating to the shares in BioNTech USA Holding, LLC, which changed partly as a result of an increase in that subsidiary's equity. Furthermore, €24.1 million related to the shares in BioNTech Pharmaceuticals Asia Pacific Pte. Ltd. in Singapore and was also attributable to a capital increase. The shares in BioNTech USA Holding, LLC totaling €399.7 million accounted for the bulk of the total shares in affiliated companies of €613.4 million.

Loans to affiliated companies increased by €342.5 million due to additions in the 2022 financial year, mainly in connection with the increase in the loans to BioNTech Manufacturing Marburg GmbH and the assumption of the loans of BioNTech Real Estate Holding GmbH. This contrasted with disposals of €71.7 million primarily due to the repayment of loans by subsidiaries.

In the 2022 financial year, we acquired 13.0% of the shares (fully diluted) in Crescendo Biologics Ltd., a private, clinical-stageimmuno-oncology company, and 8.3% of the shares or 7.1% of the voting rights (fully diluted) in Ryvu Therapeutics S.A., a listed company engaged in the clinical-stage development of oncology therapeutics. Overall, equity investments increased by €47.2 million.

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Information is provided on the following companies in accordance with Section 285 no. 11 HGB:

			Net income for
Name / registered office		Shareholding	the year after	Equity
	profit / loss
	(in € million) (1)
			transfer
			(in € million) (1)
BioNTech BioNTainer Holding GmbH, Mainz	(3)	100%	€0.3	€12.9
BioNTech Cell & Gene Therapies GmbH, Mainz	(2)	100%	-	8.7
BioNTech Delivery Technologies GmbH, Halle	(2)	100%	-	-
BioNTech Diagnostics GmbH, Mainz	(2)	100%	-	5.5
BioNTech Europe GmbH, Mainz	(2)	100%	-	(1.7)
BioNTech Individualized mRNA Manufacturing GmbH i.G.,		100%	-	-
Mainz	(3)
BioNTech Innovation GmbH, Mainz	(2)	100%	-	-
BioNTech Innovative Manufacturing Services GmbH, Idar-	(2)	100%	-	3.7
Oberstein
BioNTech Idar-Oberstein Services GmbH, Idar-Oberstein	(3)	100%	0.2	0.2
BioNTech Manufacturing GmbH, Mainz	(2)	100%	-	-
BioNTech Manufacturing Marburg GmbH, Marburg	(2)	100%	22.0	96.5
BioNTech Innovation and Services Marburg GmbH, Marburg	(2)	100%	-	0.9
JPT Peptide Technologies GmbH, Berlin	(2)	100%	-	13.7
NT Security and Services GmbH, Mainz	(3)	100%	-	-
reSano GmbH, Mainz	(2)	100%	-	(1.3)
BioNTech Real Estate Holding GmbH, Holzkirchen	(2)	100%	-	0.1
BioNTech Real Estate Verwaltungs GmbH, Holzkirchen		100%	-		-
BioNTech Real Estate GmbH & Co. KG, Holzkirchen		100%	(1.1)		(3.0)
BioNTech Real Estate An der Goldgrube GmbH & Co. KG,		100%	(0.8)		(1.4)
Holzkirchen
BioNTech Real Estate Haus Vier GmbH & Co. KG, Holzkirchen		100%	(0.4)		(0.6)
BioNTech Real Estate Adam-Opel-Straße GmbH & Co. KG,		100%	(0.5)		(0.6)
Holzkirchen
BioNTech Real Estate An der Goldgrube 12 GmbH & Co. KG,		100%	(0.1)		(0.1)
Holzkirchen
BioNTech Australia Pty Ltd, Melbourne, Australia	(3)	100%	-		-
BioNTech R&D (Austria) GmbH, Vienna, Austria		100%	(5.5)		1.3
BioNTech (Shanghai) Pharmaceuticals Co. Ltd., Shanghai, China		100%	(1.4)		0.2
BioNTech Pharmaceuticals Asia Pacific Pte. Ltd., Singapore		100%	(6.5)		19.3
BioNTech Rwanda Ltd., Kigali, Rwanda	(3)	100%	(1.2)	10.6
BioNTech Turkey Tıbbi Ürünler Ve Klinik Araştirma Ticaret		100%	-	0.1
Anonim Şirketi, Istanbul, Turkey
BioNTech UK Limited, London (formerly Reading), United		100%	0.1	0.1
Kingdom
BioNTech Research and Development, Inc., Cambridge, United		100%	(4.7)	0.9
BioNTech USA Holding, LLC, Cambridge, United States		100%	0.1	417.8
BioNTech US Inc., Cambridge, United States		100%	(166.1)	94.0
JPT Peptide Technologies Inc., Cambridge, United States		100%	-	1.4
InstaDeep Ltd., London, United Kingdom	(4)	5.3%	(0.7)	76.4
Crescendo Biologics Ltd., Cambridge, United Kingdom	(3) (4)	13.0%	(6.5)	33.6
Ryvu Therapeutics S.A., Krakow, Poland	(3) (4)	8.3%	(16.9)	36.8

1. Net income and equity amounts denominated in foreign currencies are translated using the exchange rates published by the German Central Bank (Deutsche Bundesbank).
2. Companies with which domination and profit and loss transfer agreements are in place.
3. Addition in the 2022 financial year.
4. Net income for the 2021 financial year and equity as of December 31, 2021.

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