Directors’ Report Options Issued as part of remuneration for the year ended 30 June 2014  Options can be issued to executives as part of their remuneration. Options are issued to executives to increase goal congruence with Company  objectives. During the year ended 30 June 2014, 2,080,000 options (2013: 800,000) were granted to executives and the 2013 Annual General  Meeting approved the grant of 400,000 options to Director Kevin Buchi. There were no other options issued to directors as part of their  remuneration. * Refers to securities purchased during the financial year not as part of remuneration. The options were provided at no cost to the recipients. All options expire on the earlier of their expiry date or termination of the individual’s  employment or an expiry date which may be determined by the Board. The Board has the power to adjust, amend and cancel the ESOP. Non- Executive Directors are excluded from the ESOP. There were no options issued to staff or directors in the period since the end of the financial year and the issuing of this report. Page 12 Benitec Biopharma Ltd  Annual Report 2014 Total  Balance  Granted as  Options  Options  Balance at  Total Vested  Exercisable  1 July 13  Remuneration  Acquired  Exercised  30 June 14  at 30 June 14 at 30 June 14 Directors Peter Francis  1,660,000  -  36,924  -  1,696,924  1,696,924  1,696,924 Mel Bridges  460,000  -  61,539  -  521,539  521,539  521,539 John Chiplin  410,563  -  61,539  61,539  410,563  410,563  410,563 Iain Ross  407,500  -  -  -  407,500  407,500  407,500 Kevin Buchi  246,154  400,000  -  -  646,154  512,820  512,820 3,184,217 400,000 160,002 61,539 3,682,680 3,549,346 3,549,346 Specified Executives Peter French  1,449,231 1,400,000 -  -  2,849,231 1,449,231 1,449,231  Carl Stubbings  412,308 200,000 -  -  612,308  145,641 145,641  Mick Graham  600,000 -  -  -  600,000 600,000 600,000  David Suhy  400,000 200,000 -  -  600,000 133,333 133,333  Greg West  120,000 280,000 -  -  400,000 80,000 80,000  2,981,539 2,080,000 -  -  5,061,539 2,408,205 2,408,205  Options Issued to Directors and Specified Executives in the year ended 30 June 2014 Percentage  remuneration  that are  options Number  granted in  the year  to 30 June  2014 Grant date Value per  option at  grant date  ($) Number  vested Number  lapsed Exercise  price ($)  Vesting and  first exercise  date Last  exercise  date Non-Executive Directors Kevin Buchi 66.0% 400,000 10-Nov-13 $ 0.42 266,666 - $ 0.63 10-Nov-13 18-May-18 Specified Executives Peter French 21.2% 1,400,000 22-Aug-13 $ 0.18 - - $ 1.25 22-Aug-14 22-Aug-18 Carl Stubbings 5.7% 200,000 22-Aug-13 $ 0.18 - - $ 1.25 22-Aug-14 22-Aug-18 David Suhy 7.7% 200,000 22-Aug-13 $ 0.18 - - $ 1.25 22-Aug-14 22-Aug-18 Greg West 5.1% 280,000 22-Aug-13 $ 0.18 - - $ 1.25 22-Aug-14 22-Aug-18