Scenarios for the Course of the Epidemic from 2020 to 2022, for a High-Income Country Setting, in the Absence of a Vaccine (counterfactual scenarios). We assume that R0 = 2.5 up to time t1 (May 2020) and that Rt1 drops to 1.1 between time t1 and t2 (February 2021). Assuming an average duration of naturally-acquired immunity of one year, this results in 11% in the recovered (immune) state at vaccine introduction. From time t2 onwards, we consider three counterfactual scenarios, Rt2 = 1.5, 2 and 2.5 shown in light green, purple, and turquoise, respectively. Vaccine impact is compared to these counterfactual scenarios. (For interpretation of the references to colour in this figure legend, the reader is referred to the web version of this article.)