Benitec prices initial public offering of 1,500,000 American Depositary Shares

Benitec Biopharma Limited (NASDAQ: BNTC; NASDAQ: BNTCW; ASX: BLT), a clinical-stage biotechnology company, is pleased to announce the pricing of its U.S. initial public offering of 1,500,000 American Depositary Shares (ADSs), representing 30,000,000 fully paid ordinary shares of Benitec and warrants to purchase 500,000 ADSs, representing 10,000,000 fully paid ordinary shares, at a price of US$9.21 per ADS and US$0.01 per warrant. Each ADS represents 20 ordinary shares of Benitec. The warrants will have a per ADS exercise price of US$5.50, are exercisable immediately and will expire on August 21, 2020. Benitec has granted the underwriters a 45-day option to purchase up to an additional 225,000 ADSs and/or 75,000 warrants to purchase ADSs to cover over-allotments, if any.

The gross proceeds from the offering are expected to be US$13.8 million, before deducting underwriting discounts and commissions and other offering expenses. Net proceeds from the offering will be used primarily to advance Benitec's therapeutic programs.

The ADSs and the warrants will begin trading today on the NASDAQ Capital Market under the symbols "BNTC" and "BNTCW," respectively. The offering is expected to close on or about August 21, 2015, subject to customary closing conditions.

Maxim Group LLC is acting as sole book-running manager for the offering.