SCHEDULE 13G/A 0001641172-25-022581 0002052389 XXXXXXXX LIVE 2 Common Stock, par value $0.0001 per share 11/03/2025 0001533040 Phio Pharmaceuticals Corp. 71880W501 11 Apex Drive, Suite 300A, PMB 2006 Marlborough MA 01752 Rule 13d-1(c) Orca Capital AG 2M 800000.00 0.00 800000.00 0.00 800000.00 N 9.8 CO All ownership percentages set forth in this Schedule 13G are calculated based upon an aggregate of 8,192,326 shares of Common Stock outstanding after giving effect to the completion of the Issuer's warrant inducement transaction and excludes 1,302,822 shares of Common Stock held in abeyance and 4,205,644 shares of Common Stock issuable upon the exercise of warrants, subject to the 4.99% blocker (defined below). Pursuant to the terms of the warrants, the Reporting Person cannot exercise any of the warrants to the extent the Reporting Person would beneficially own, after any such exercise, more than 4.99% of the Issuer's outstanding Common Stock (the "4.99% Blocker"). Phio Pharmaceuticals Corp. 11 Apex Drive, Suite 300A, PMB 2006 Marlborough, Massachusetts 01752 Orca Capital AG Sperlring 2 85276 Hettenshausen Deutschland Germany 800,000 9.8% 800,000 0 800,000 0 Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Orca Capital AG /s/ Thomas Konig 11/06/2025