NOVAVAX INC

CUSIP: 670002104 Class: COMMON STOCK

SPHERA FUNDS MANAGEMENT LTD.'s Holding History (CIK: 0001496201)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015
Shares 400,000 Value ($000) $3,356 Avg Close — Range —
Q3 2015
Shares 150,000 Value ($000) $1,061 Avg Close — Range —
Q4 2014
Shares 1,543 Value ($000) $9 Avg Close — Range —