Early Warning Report Issued Pursuant to National Instrument 62‐103: Roivant announces Resignation and Replacement of Arbutus Board

Core Viewpoint - Roivant Sciences Ltd. has successfully replaced the entire Board of Directors of Arbutus Biopharma Corporation, following a request from Roivant's CEO, Matthew Gline, and now holds 20.5% of Arbutus's common shares [1][2]. Group 1: Board Restructuring - On February 21, 2025, Roivant's CEO requested the resignation of all members of Arbutus's Board of Directors, which was agreed upon, leading to their resignation on February 24, 2025 [2]. - The number of directors has been reduced from seven to five, with new members including Lindsay Androski, Robert Alan Beardsley, Joseph Bishop, Matthew Gline, and Anuj Hasija [2]. - Lindsay Androski has been appointed as President and CEO of Arbutus, with Ms. Androski, Mr. Gline, and Mr. Bishop being employees of Roivant Sciences, Inc. [2]. Group 2: Ownership and Future Actions - Roivant currently owns 38,847,462 shares of Arbutus, representing 20.5% of the total common shares [1]. - Roivant may consider purchasing additional securities of Arbutus or disposing of its holdings based on various factors including Arbutus's business prospects and market conditions [3]. - The company reserves the right to adjust its holdings in Arbutus at its discretion [3]. Group 3: Regulatory Compliance - The news release is issued under the early warning provisions of Canadian securities legislation, with an Early Warning Report to be filed by Roivant [5]. - A copy of the Early Warning Report will be available on Arbutus's SEDAR+ profile [5].