Arbutus Biopharma Corporation Financial Statements — ABUS

Income Statement	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Sales/Revenue/Turnover	14	21	17	14	15	15	23	1	11	6	6	7	11	39	18
+ Sales & Services Revenue	14	21	17	14	15	15	23	1	11	6	6	7	11	39	18
- Cost of Revenue	17	22	19	18	21	39	52	61	63	58	58	47	- -	- -	- -
+ Cost of Goods & Services	17	22	19	18	21	39	52	61	63	58	58	47	- -	- -	- -
Gross Profit	-3	-1	-3	-4	-6	-24	-28	-60	-52	-52	-52	-41	- -	- -	- -
+ Other Operating Income	- -	-22	-20	-18	-21	-39	-52	-61	-63	-58	-58	-47	-11	-39	-18
- Operating Expenses	5	28	28	-19	28	48	79	102	81	76	77	64	83	102	96
+ Selling, General & Admin	4	5	6	27	6	9	26	39	16	16	18	15	17	18	22
+ Research & Development	- -	22	20	18	21	39	52	61	63	58	58	49	66	84	74
+ Other Operating Expense	1	1	1	-64	1	1	1	1	2	2	2	- -	- -	- -	- -
Operating Income (Loss)	-8	-7	-11	33	-12	-33	-55	-100	-70	-70	-71	-57	-72	-63	-78
- Non-Operating (Income) Loss	-8	6	-1	4	2	6	24	389	39	-9	95	6	5	2	-5
+ Interest Expense, Net	- -	- -	- -	- -	-1	-1	-1	-1	-1	-3	- -	3	3	- -	-5
+ Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2	4	3	2	- -
- Interest Income	- -	- -	- -	- -	1	1	1	1	2	3	2	1	- -	2	6
+ Other Non-Op (Income) Loss	-8	6	- -	4	2	7	24	390	40	-6	95	3	2	2	- -
Pretax Income	- -	-12	-10	30	-14	-39	-79	-489	-109	-61	-166	-64	-76	-65	-73
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	- -	-16	-105	-24	-4	-13	- -	- -	4	- -
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-8	-12	-10	30	-14	-39	-63	-384	-84	-57	-154	-64	-76	-69	-73
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-8	-12	-10	30	-14	-39	-63	-384	-84	-57	-154	-64	-76	-69	-73
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-8	-12	-10	30	-14	-39	-63	-384	-84	-57	-154	-64	-76	-69	-73
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	1	10	11	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-8	-12	-10	30	-14	-39	-63	-384	-85	-67	-165	-64	-76	-69	-73
Basic Weighted Avg Shares	10	10	11	14	15	22	45	53	54	55	57	76	106	151	166
Basic EPS, GAAP	-0.81	-1.2	-0.89	2.16	-0.92	-1.73	-1.38	-7.24	-1.58	-1.21	-2.89	-0.84	-0.72	-0.46	-0.44
Basic EPS from Cont Ops	-0.81	-1.2	-0.89	2.16	-0.92	-1.73	-1.38	-7.24	-1.56	-1.03	-2.69	-0.84	-0.72	-0.46	-0.44
Diluted Weighted Avg Shares	10	10	11	14	15	22	45	53	54	55	57	76	106	151	166
Diluted EPS, GAAP	-0.81	-1.2	-0.89	2.07	-0.92	-1.73	-1.38	-7.24	-1.58	-1.21	-2.89	-0.84	-0.72	-0.46	-0.44
Diluted EPS from Cont Ops	-0.81	-1.2	-0.89	2.07	-0.92	-1.73	-1.38	-7.24	-1.56	-1.03	-2.69	-0.84	-0.72	-0.46	-0.44
EBITDA	-7	-6	-10	34	-12	-32	-55	-99	-68	-68	-69	-55	-70	-62	-77
EBITDA Margin (%)	-51.9	-26.04	-57.74	242.35	-74.61	-216.97	-234.86	-6,653.25	-636.5	-1,143.67	-1,153.17	-799.7	-636.12	-158.37	-422.41
EBITA	-8	-7	-11	33	-12	-33	-55	-100	-70	-70	-71	-57	-72	-63	-78
EBIT	-8	-7	-11	33	-12	-33	-55	-100	-70	-70	-71	-57	-72	-63	-78
Gross Margin (%)	-23.12	-3.65	-15.93	-27.92	-38.75	-158.9	-121.28	-4,008.18	-485.76	-874.5	-858.26	-586.74	100	100	100
Operating Margin (%)	-58.75	-30.9	-63.61	236.21	-78.58	-220.5	-237.39	-6,726.49	-655.44	-1,180.35	-1,186.91	-828.3	-652.07	-162.03	-430.15
Profit Margin (%)	-60.64	-58.14	-59.98	209.93	-90.93	-259.73	-269.45	-25,765.53	-788.91	-959.8	-2,557.36	-921.97	-693.91	-178.01	-401.57
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	1	1	1	1	1	1	1	1	2	2	2	2	2	1	1

Balance Sheet	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Current Assets	25	18	12	51	70	116	184	133	129	129	94	128	161	151	132
+ Cash, Cash Equivalents & STI	23	12	9	47	69	112	181	131	126	125	91	123	155	147	126
+ Cash & Cash Equivalents	23	12	9	47	69	72	167	23	54	37	32	52	109	31	26
+ ST Investments	- -	- -	- -	- -	- -	40	15	107	72	88	59	71	46	116	100
+ Accounts & Notes Receiv	1	4	1	3	- -	3	1	1	1	1	1	1	1	1	2
+ Accounts Receivable, Net	1	3	1	1	- -	2	1	- -	- -	1	1	1	1	1	2
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	1	2	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	2	1	1	1	2	1	1	2	3	2	3	4	3	4
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	3	3	2	1	1	2	528	143	108	99	12	9	44	44	12
+ Property, Plant & Equip, Net	3	3	2	1	1	2	3	7	12	10	11	9	8	7	6
+ Property, Plant & Equip	16	19	18	13	13	13	13	18	25	17	17	17	17	18	18
- Accumulated Depreciation	13	16	16	12	12	11	10	11	13	7	6	8	9	11	12
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	10	- -	- -	22	- -	- -	36	37	6
+ LT Investments	- -	- -	- -	- -	- -	- -	10	- -	- -	22	- -	- -	36	37	6
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	- -	- -	- -	- -	- -	515	136	96	66	- -	- -	- -	- -	- -
+ Total Intangible Assets	14	- -	- -	- -	- -	- -	515	124	83	66	- -	- -	- -	- -	- -
+ Goodwill	- -	- -	- -	- -	- -	- -	163	24	24	22	- -	- -	- -	- -	- -
+ Other Intangible Assets	14	- -	- -	- -	- -	- -	353	99	59	44	- -	- -	- -	- -	- -
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	-14	- -	- -	- -	- -	- -	- -	13	13	- -	- -	- -	- -	- -	- -
Total Assets	28	21	14	53	72	118	712	276	237	228	106	137	204	195	144
+ Payables & Accruals	5	6	4	4	4	9	9	10	11	11	7	9	11	16	10
+ Accounts Payable	2	- -	1	1	1	2	3	3	2	3	2	3	3	4

Arbutus Biopharma Corporation

Income Statement

Balance Sheet