13D Filing: Viking Global and Arbutus Biopharma Corp (ABUS)

Each Preferred Share
is initially convertible based on a conversion price of $7.13, subject to adjustment for certain distributions, recapitalizations,
reclassifications and other transactions by the Issuer on or with respect to the Common Shares, in the event a transaction that
involves (i) a fundamental transfer of value to the Common Shares in which the Preferred Shares do not have the right to participate
or (ii) a Fundamental Change (as defined in the Preferred Shares Articles Amendment), each Preferred Share may be converted prior
to such transaction at the option of its holder into (A) a number of Common Shares equal to the amount determined by dividing (x)
the Liquidation Preference (calculated giving effect to the four-year period set forth in “Mandatory Conversion” above,
irrespective of the date of conversion) by (y) the conversion price in effect at the time of conversion; (B) cash for any accrued
but unpaid Participating Cash Dividends (to the extent not included in the Purchase Price) on the Preferred Shares being converted;
and (C) any accrued and unpaid Participating In-Kind Dividends.

Liquidation Preference; Ranking

In the event of any
liquidation, dissolution or winding up of the Issuer, the holders of the Preferred Shares will be entitled to receive an amount
in cash equal to the amount that the holder of a Preferred Share would have been entitled to receive if such Preferred Share had
been converted into Common Shares upon the Mandatory

Conversion Date. Neither the voluntary
sale, conveyance, exchange or transfer of all or substantially all of the assets of the Issuer nor the consolidation or merger
of the Issuer with or into another entity will be deemed a liquidation, dissolution or winding up of the Issuer.

The Preferred Shares
will rank senior to the Common Shares with respect to any distributions or rights upon liquidation, dissolution or winding up of
the Issuer.

Voting Rights

The Preferred Shares
will not have the right to vote on any matters except as required by law, including under the British Columbia Business Corporations
Act.

The foregoing description
of the Preferred Share Articles Amendment does not purport to be complete and is qualified in its entirety by reference to the
form of the Preferred Share Articles Amendment, which is filed as an exhibit to this Schedule 13D and is incorporated herein by
reference.

 Item 7. Material to Be Filed
as Exhibits

This Amendment amends
and restates Item 7 of the Original Schedule 13D in its entirety as set forth below:

Exhibit 1. Form of Terms Of Series A Participating
Convertible Preferred Stock Of Arbutus Biopharma Corporation, incorporated by reference to Schedule B to Exhibit 7.08 to the Schedule
13D/A of Roivant Sciences Ltd. filed with the Securities and Exchange Commission on October 3, 2017.

Exhibit 99.1 Joint Filing Agreement, dated as of July 5, 2017, among
the Reporting Persons.

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