Adverum Files Investor Presentation Highlighting Significant Strategic Progress and Purpose-Built Board to Oversee Stockholder Value Creation - Seite 2

Sonic’s self-serving attempt to control the Board risks operational execution and is not in the best interests of Adverum stockholders

• Sonic’s nominees would diminish the diversity and the needed skills and experience of the current Board and there is no reason to believe they would enhance Adverum’s efforts to commercialize ADVM-022 and deliver global access to Adverum’s vision-saving gene therapy
  
• Not only would the resulting loss of Ms. Svoronos, Dr. Tuckson and Dr. Woiwode from the Adverum Board significantly harm stockholder value, Adverum strongly believes that the Board’s current process to identify a new director with commercial gene therapy experience is superior to relying solely on input from one stockholder who is trying to control the Board
  
• Sonic has not articulated a coherent plan that would advance Adverum’s mission and instead has merely launched deceptive, baseless claims and proclaimed its apparent desire to reunite a leadership team that led the failed Avalanche Biotechnologies, one of the two companies that merged in 2016 to form Adverum
  
• Sonic’s campaign is a distraction for Adverum at a time when Adverum and its resources are better spent on clinical execution and advancing Adverum’s vision of bringing a transformative therapy to market
  

To ensure Adverum can continue its progress and build on its momentum, the Adverum Board of Directors unanimously recommends that stockholders vote the WHITE proxy card “FOR” ALL of Adverum’s three highly qualified directors standing for election - Dawn Svoronos, Reed V. Tuckson, M.D. and Thomas Woiwode, Ph.D – at the Annual Meeting, which will be held on May 12, 2021. Adverum stockholders of record at the close of business on April 14, 2021 are entitled to vote at the Annual Meeting.

Advisors
Cooley LLP and Skadden, Arps, Slate, Meagher & Flom LLP are serving as legal advisors, and Centerview Partners LLC is serving as financial advisor to Adverum.

About Adverum Biotechnologies
Adverum Biotechnologies (Nasdaq: ADVM) is a clinical-stage gene therapy company targeting unmet medical needs in serious ocular and rare diseases. Adverum is advancing the clinical development of its novel gene therapy candidate, ADVM-022, as a one-time, intravitreal injection for the treatment of patients with wet age-related macular degeneration and diabetic macular edema. For more information, please visit www.adverum.com.