Arbutus Biopharma Corp ABUS

expiry = 2026-09-29...ansmittal”) and notice of guaranteed delivery (the “Notice of Guaranteed Delivery”) (which together constitute, and are herein referred to as, the “Offer”). The Offer commences on the date hereof and expires at 5:00 PM (New York City time) on September 29, 2026, or at such later time and date to which the Offer may be extended by the Company (the “Expiration Date”), unless withdrawn. The Offer is not conditional upon any minimum number of Shares being properly deposited under the Offer and is not...

listed = True...the minimum price per Share under the Offer) or approximately 20.2% of the total number of issued and outstanding Shares if the Purchase Price is determined to be US$5.75 (which is the maximum price per Share under the Offer). iii TABLE OF CONTENTS The Shares are listed on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “ABUS”. On August 21, 2026, the last full trading day prior to the commencement of the Offer, the closing price of the Shares on Nasdaq was US$5.21 per Share, which is above the US$5.00 per Share lower end of the price range for the Offer. Accordingly, an election to accept the Purchase Price determined in the...

mechanism = DUTCH_PROPORTIONATE...Purchase Price Tenders”), understanding that if they make a Purchase Price Tender such Shares will be deemed to have been tendered at the minimum price of US$5.00 for the purpose of determining the Purchase Price to be determined pursuant to the Offer; or ​ • proportionate tenders in which the tendering Shareholders agree to sell to the Company, at the Purchase Price to be determined pursuant to the Offer, a number of Shares that will result in them maintaining their respective proportionate Share ownership in the Company following completion of the Offer (the “Proportionate Tenders”). ​ Promptly following the Ex...

mechanism = DUTCH_PROPORTIONATE...p to US$230 million in value of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from US$5.00 per Share to US$5.75 per Share, and included the option for shareholders to participate via a proportionate tender. The Offer expired at 5:00 p.m. (New York City time) on September 29, 2026. All amounts are in U.S. dollars. In accordance with the terms and conditions of the Offer and based on the preliminary calculation of TSX Trust Company, as depositary for the Offer (the “Depositary”), Arbutus expects to take up and pay for 46,000,000 Shares at a...

mechanism = DUTCH_PROPORTIONATE...p to US$230 million in value of its common shares (the “Shares”). The Offer proceeded by way of a modified Dutch auction, which had a tender price range from US$5.00 per Share to US$5.75 per Share, and included the option for shareholders to participate via a proportionate tender. The Offer expired at 5:00 p.m. (New York City time) on September 29, 2026. All amounts are in U.S. dollars. In accordance with the terms and conditions of the Offer and based on the final calculation of TSX Trust Company, as depositary for the Offer (the “Depositary”), Arbutus has taken up and accepted for purchase a total of 46,000,000...

must_tender_all = True...the Company will purchase a portion of the Shares so tendered pursuant to Auction Tenders at or below the Purchase Price and Purchase Price Tenders, as follows: (i) first, the Company will purchase at the Purchase Price all Shares tendered by Odd Lot Holders who tender all of their Shares at or below the Purchase Price; and (ii) second, the Company will purchase at the Purchase Price on a pro rata basis that portion of the Shares tendered pursuant to Auction Tenders at or below the Purchase Price and Purchase Price Tenders having an aggregate purchase price, based on the Purchase Price, equal to (A) the Auction Tender Lim...

price = USD 5.0-5.75...orated under the Business Corporations Act (British Columbia). August 24, 2026 OFFER TO PURCHASE FOR CASH UP TO US$230 MILLION IN VALUE OF ITS COMMON SHARES AT A PURCHASE PRICE OF NOT LESS THAN US$5.00 AND NOT MORE THAN US$5.75 PER COMMON SHARE Arbutus Biopharma Corporation (“Arbutus,” the “Company,” “we” and “our”) hereby offers to purchase for cancellation a number of common shares of the Company (the “Shares”) for an aggregate purchase pric...

price = USD 5.0...auction tenders at or below the Purchase Price and pursuant to purchase price tenders, which includes shares that were tendered through notice of guaranteed delivery at the final Purchase Price of US$5.00 per share or as purchase price tenders. Since the Offer was oversubscribed, shareholders who made auction tenders at or below the Purchase Price and shareholders who made, or were deemed to have made, purchase price tenders had a...

priority = True...enders. If the Auction Tender Purchase Amount is greater than the Auction Tender Limit Amount, the Company will purchase a portion of the Shares so tendered pursuant to Auction Tenders at or below the Purchase Price and Purchase Price Tenders, as follows: (i) first, the Company will purchase all Shares tendered at or below the Purchase Price by Shareholders who own fewer than 100 Shares (the “Odd Lot Holders”) and who have tendered all of their Shares at or below the Purchase Price; and (ii) second, the Company will purchase at the Purchase Price on a pro rata basis that portion of the Shares tendered pursuant to Auction Tenders at or below the Purchase Price and Purchase Price Tenders having an aggregate purchas...

threshold = 100...he meaning set forth in Section 10 of the Circular, “Interest of Directors and Officers” under “Employment Agreements.” “Notice of Guaranteed Delivery” means the notice of guaranteed delivery in the form forwarded with the Offer to Purchase and the Circular. “Odd Lot Holder” means a Shareholder who owns fewer than 100 Shares. “Odd Lots” means, for purposes of the Offer, all Shares validly tendered at or below the Purchase Price by Odd Lot Holders. “Offer” means the offer made to Shareholders to purchase that number of Shares having an aggregate purchase price not exceeding $230 million, the terms and conditions of which are set forth in the Offer to Purchase...

txn_type = TENDER_OFFER...he United States. The enforcement by U.S. Shareholders of civil liabilities under U.S. federal and state securities laws may be adversely affected by the fact that Arbutus is incorporated under the Business Corporations Act (British Columbia). August 24, 2026 OFFER TO PURCHASE FOR CASH UP TO US$230 MILLION IN VALUE OF ITS COMMON SHARES AT A PURCHASE PRICE OF NOT LESS THAN US$5.00 AND NOT MORE THAN US$5.75 PER COMMON SHARE Arbutus Biopharma Corporation (“Arbutus,” the “Company,” “we” and “our”) hereby offers to purchase for cancellation a number of common shares of the Company (the “Shares”) for an aggregate pu...

txn_type = TENDER_OFFER...ess release, payment for the Shares accepted for purchase will be made in accordance with the terms of the Offer and applicable law, and the Depositary will return all other Shares tendered and not purchased. The full details of the Offer are described in the offer to purchase and issuer bid circular dated August 24, 2026, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. This news release is for informational purposes only and does not constitute an offer to buy or the solicita...

txn_type = TENDER_OFFER...To assist shareholders in determining the tax consequences of the Offer, Arbutus does not expect that a deemed dividend will arise on a disposition of Shares pursuant to the Offer for purposes of the Income Tax Act (Canada). 1 Shareholders should refer to the offer to purchase and issuer bid circular dated August 24, 2026 and consult with their own tax advisors with respect to the income tax consequences of the disposition of their Shares under the Offer. The full details of the Offer are described in the offer to purchase and issuer bid circular dated August 24, 2026, as well as the related letter of transmit...