X0306 4 2018-04-16 0 0000737207 Marina Biotech, Inc. MRNA 0001697480 Hwang Larn C/O MARINA BIOTECH, INC. 17870 CASTLETON STREET, SUITE 250 CITY OF INDUSTRY CA 91748 0 1 0 0 Chief Scientific Officer Series E Convertible Preferred Stock 0.50 2018-04-16 4 C 0 10.44 5000 A 2018-04-16 common stock 104400 10.44 D Warrants to Purchase Common Stock 0.55 2018-04-16 4 C 0 78300 0.00 A 2018-04-16 common stock 78300 78300 D 5% Convertible Promissory Note 5000 2018-04-16 4 C 0 50000 0.00 D 2018-04-16 Preferred Stock / Warrants 0.00 D On April 16, 2018, the reporting person and the issuer amended the convertible promissory note in the principal amount of $50,000 that the issuer issued to the reporting person in June 2017 so that the unpaid principal amount thereof, together with accrued but unpaid interest thereon, would be converted into 10.44 shares of the issuer's Series E Convertible Preferred Stock and warrants to purchase up to 78,300 shares of the issuer's common stock upon the closing of the private placement of Series E Preferred Stock and common stock purchase warrants on April 16, 2018 (the "Offering"). As a result of such conversion, the note has been satisfied in full and is no longer outstanding. Each outstanding share of Series E Preferred Stock shall be converted into common stock on the earliest to occur of: (i) any date more than 30 trading days after the closing of the Offering that the closing price of the common stock on each of the 30 days immediately prior to such conversion exceeds $5.00; (ii) the three year anniversary of the closing of the Offering; and (iii) the date on which the holders of a majority of the outstanding shares of Series E Preferred Stock elect to convert all of the outstanding shares of Series E Preferred Stock. The warrants expire on the five year anniversary of the closing of the offering. N/A The note converted into 10.44 shares of Series E Convertible Preferred Stock and warrants to purchase 78,300 shares of common stock. /s/ Larn Hwang 2018-04-18