Financial Statement and Notes to the Financial Statements CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the Year Ended 30 June 2014 Foreign Share-based exchange Contributed Payments translation Accumulated  Equity Reserve Reserve Losses Total $ $ $ $ $ Balance at 1 July 2012  87,348,819  1,394,142  -  (86,080,047)  2,662,914 Loss for the year  -  - -  (3,487,960)  (3,487,960) Other comprehensive income for year  -  -  (1,313,792)  -  (1,313,792) Total comprehensive income for year  -  -  (1,313,792)  (3,487,960)  (4,801,752) Share issue to Tacere on business acquisition  1,173,585  -  -  -  1,173,585 Transfer to Accumulated Losses the Share Based  Payments Reserve no longer required  -  (321,189)  -  (321,189)  - Share Based Payments  - 518,749  -  - 518,749 Share issues, net of transaction costs  1,086,844  -  -  - 1,086,844 Transactions with owners  2,260,429  197,560  -  321,189  2,779,178 Balance 30 June 2013  89,609,248  1,591,702  (1,313,792)  (89,246,818)  640,340 Loss for the year  -  - -  (7,039,109)  (7,039,109) Other comprehensive income for year  -  -  7,747  -  7,747 Total comprehensive income for year  - - 7,747  (7,039,109)  (7,031,362) Share Based Payments  -  355,116  -  - 355,116 Share issues, net of transaction costs  39,576,428  -  -  - 39,576,428 Transactions with owners  39,576,428  355,116  -  -  39,781,544 Balance 30 June 2014  129,185,676  1,946,818  (1,306,045)  (96,285,927)  33,540,522 This statement should be read in conjunction with the notes to the financial statements. Page 22 Benitec Biopharma Ltd  Annual Report 2014