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| 1. | Terms to be included                                        |
|----|-------------------------------------------------------------|
| i. | The following new clause-12 in Appendix A of the Agreement; |

|   | a) | Dr. Reddy’s laboratories will store the Crude PBT2 obtained in Sub-Project 5C under cold storage cGMP conditions for a period of 1 year from the 18 September 2012                |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | b) | It is agreed that within this period Prana will either utilize the Crude PBT2 for further recovery of pure PBT2 or request for further storage or dispose the material at its own cost. |
|   | c) | Dr. Reddy’s will retest this residue by HPLC and Assay at the beginning of each six months-period, i.e twice during the period of this agreement.                                 |
|   | d) | If Prana decided to dispose this material or ship to any location, complete cost of shipment/disposal will be borne by Prana under a separate sub-project.”                       |

| ii.    | The following description of new Sub-Project 5E under Sub-Project Pricing in clause 3 of the Agreement |
|--------|--------------------------------------------------------------------------------------------------------|
|   |                                                                                                   |
|   | “Sub-Project 5E: Storage of Crude PBT2 under cGMP conditions - USD 2,800/-”                |
|   |                                                                                                   |
| iii.   | The following description of new Sub-Project payment terms in clause 3 of theAgreement                 |
|   |                                                                                                   |
|   | “Sub-Project 5E:                                                                                 |

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|   | ● | 50% upon completing 6 months of storage and sharing of the final report for the first retest to Prana (USD 1,400/-)”   |
|--------|---------|------------------------------------------------------------------------------------------------------------------------------|
|   | ● | 50% upon completing 12 months of storage and sharing of the final report for the second retest to Prana (USD 1,400/-)” |
|   | ● | Prana will make the payment every six month or ending of the contract whichever is earlier.                                  |

| 2.     | Terms to be varied                                                                                               |
|--------|------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                             |
| i.     | The current numbering of the following clause heading in Appendix A of theAgreement, as amended in Amendment 13: |

| Signed for and on behalf of            | Signed for and on behalf of |
|----------------------------------------|-----------------------------|
| Dr. Reddy’s Laboratories Limited | Prana Biotechnology Ltd.    |

| Signature       | Signature     |
|----------------------|--------------------|
| Name: Manoj Mehrotra | Name: Dianne Angus |

| Witness Signature            | Witness Signature   |
|-----------------------------------|--------------------------|
| Witness Name: Animesh Kondiparthy | Witness Name: E. Gautier |

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|   |
|--------|

|   |                                                     |
|--------|----------------------------------------------------------|
| 1.     | Terms to be included                                     |
| i.     | The following new clause in Appendix A of the Agreement: |

|    |                                                                                                                                      |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------|
| a)      | Dr. Reddy’s will perform the following tests upon pulling the sample after 48 months stability at 25°C/60%RH.                  |
|    |                                                                                                                                      |
| ● | Description                                                                                                                               |
| ● | Identification by HPLC/FT-IR                                                                                                              |
| ● | Assay by HPLC                                                                                                                             |
| ● | Related substances by HPLC                                                                                                                |
| ● | Related substances by LC-MS and GC                                                                                                        |
| ● | Water content by KF                                                                                                                       |
|    |                                                                                                                                      |
| b)      | Dr. Reddy’s will provide a stability report upon completion of stability study for 48 months.                                       |
|    |                                                                                                                                      |
| ii.     | The following description of new Sub-Project 6B under Sub-Project Pricing in clause 3 of the Agreement                                    |
|    |                                                                                                                                      |
|    | “Sub-Project 6B: Stability testing of IDT batch number- DA1020702.1. at 48 months timepoint at 25°C/60%RH - USD 5,000/-” |

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| iii.   | The following description of new Sub-Project 6B payment terms in clause 3 of the Agreement |
|--------|--------------------------------------------------------------------------------------------|
|   |                                                                                       |
|   | “Sub-Project 6B:                                                                     |
|   |                                                                                       |   |
|   | ●                                                                                    | 100% uponcompletion of 48 months of stability of IDT batch number-DA1020702.1. at 25°C/60%RH and sharing the final report (USD 5000/-)” |

| Signed for and on behalf of            | Signed for and on behalf of |
|----------------------------------------|-----------------------------|
| Dr. Reddy’s Laboratories Limited | Prana Biotechnology Ltd.    |

|    Signature | Signature   1 May 2013 |
|------------------------|----------------------------------|
| Name: Manoj Mehrotra   | Name: Dianne Angus               |

| Witness Signature   21 May 2013 | Witness Signature  1 May 2013 |
|-------------------------------------------|------------------------------------|
| Witness Name: Animesh Kondiparthy         | Witness Name: Elisabeth Gautier    |

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