MAYNE PHARMA GROUP LIMITED — AGM Information 2014

Oct 26, 2014

NOTICE OF ANNUAL GENERAL MEETING 2014

Mayne Pharma Group Limited ACN 115 832 963

Date: 27 November 2014 Time: 10.30am Place: Minter Ellison, Level 23 525 Collins Street Melbourne, Victoria 3000

NOTICE OF ANNUAL GENERAL MEETING

An annual general meeting of Shareholders of Mayne Pharma Group Limited (Company) will be held at the office of Minter Ellison, Level 23, 525 Collins Street, Melbourne, Victoria, 3000 at 10.30am (Melbourne time) on Thursday, 27 November 2014.

Business

1. Financial statements and reports

To receive and consider the Directors' Report, Financial Statements and the Independent Auditor’s Report for the year ended 30 June 2014.

4. Other

Resolution 5 – Increase in Maximum Aggregate Annual Remuneration Payable to Non-Executive Directors

To consider and, if thought fit, pass the following ordinary resolution:

'That for the purposes of ASX Listing Rule 10.17 and for all other purposes, the maximum aggregate amount of annual remuneration to be paid to all Non-Executive Directors of the Company be increased by $200,000 from $500,000 to $700,000 per year.'

Note: Refer to voting exclusions on this resolution .

2. Election and Re-election of Directors

Resolution 1 – Re-election of Mr Roger Corbett, AO

To consider and, if thought fit, to pass the following ordinary resolution:

'That Mr Roger Corbett, who retires by rotation in accordance with the Company’s constitution and, being eligible and having signified his candidature for office, be re-elected as a Director.'

Resolution 6 – Approval of the Company's Employee Share Loan Scheme

To consider and, if thought fit, pass the following ordinary resolution:

'That, for the purpose of ASX Listing Rule 7.2 (exception 9(b)) and for all other purposes, approval be given for the employee share loan scheme described in the explanatory memorandum accompanying and forming part of this Notice of Meeting.'

Resolution 2 – Re-election of The Hon. Ronald Best

To consider and, if thought fit, to pass the following ordinary resolution:

'That the Hon. Ron Best, who retires by rotation in accordance with the Company’s constitution, being eligible and having signified his candidature for office, be re-elected as a Director.'

Resolution 3 – Election of Professor Bruce Robinson

To consider and, if thought fit, to pass the following ordinary resolution:

'That Professor Bruce Robinson, who was appointed to the Board since the last Annual General Meeting and who retires in accordance with the Company’s constitution, being eligible and having signified his candidature for office, be elected as a Director.'

Note: Refer to voting exclusions on this resolution.

Resolution 7 – Issue of Shares to Chief Executive Officer and Managing Director under the Employee Share Loan Scheme (ESLS)

To consider and, if thought fit, pass the following ordinary resolution:

‘That for the purposes of ASX Listing Rule 10.14 and all other purposes, approval be given to the issue to, or acquisition by or on behalf of the Chief Executive Officer and Managing Director, Mr Scott Richards, of up to the maximum number of Shares, under the ESLS (Employee Share Loan Scheme), on the terms summarised in the Explanatory Notes.’

Note: Refer to voting exclusions on this resolution.

3. Remuneration report

Resolution 4 – Remuneration Report (Non-binding advisory vote)

To consider and, if thought fit, pass the following non binding resolution:

'That the Remuneration Report that forms part of the Directors' Report of the Company for the financial year ended 30 June 2014 be adopted.'

Note: This resolution is advisory only and does not bind the Company. Also refer to voting exclusion on this resolution.

2

VOTING EXCLUSION STATEMENT

The Company will disregard any votes cast on the following Resolutions by the following persons and proxy holders as set out below and under the heading 'Proxies':

Resolution	Persons excluded from voting
Resolution 4 – adoption of remuneration report	A member of the KMP or that KMP’s Closely Related Party
Resolution 5 – Increase in maximum aggregate annual remuneration payable to Non-Executive Directors	Any Director or their associates
Resolution 6 – Approval of the Company’s Employee Share Loan Scheme	Any Director or their associates able to participate under the ESLS
Resolution 7 – Issue of Shares to Chief Executive Officer and Managing Director under the ESLS	Scott Richards and/or his nominees or any of his associates

However, in relation to Resolutions 4, 5, 6 and 7 the entity need not disregard a vote if:

• it is cast by a person as proxy for a person who is entitled to vote, in accordance with the directions on the proxy form and this Notice of Meeting; or

• it is cast by the person chairing the meeting as proxy for a person who is entitled to vote, in accordance with a direction on the proxy form and this Notice of Meeting to vote as the proxy decides.

By order of the Board

Dated 27 October 2014

Signed

==> picture [146 x 34] intentionally omitted <==

Mark Cansdale Company Secretary

PROXIES AND SHAREHOLDER INFORMATION

IMPORTANT : Shareholders are urged to direct their proxy on how to vote by clearly marking the relevant box for each resolution on the proxy form.

Proxies

1. A Shareholder entitled to attend and vote at the meeting has the right to appoint a person (who does not need to be a Shareholder of the Company) as the Shareholder's proxy to attend and vote at the meeting.

2. If a Shareholder is entitled to cast two or more votes they may appoint two proxies (but no more) provided that an appointment of two proxies will have no effect unless each proxy is appointed to represent a specified proportion of the Shareholder's voting rights aggregating to no more than 100% of that Shareholder's voting rights. If the Shareholder appoints two proxies, neither proxy may vote on a show of hands.

3. The proxy form must be signed by the Shareholder or their attorney. Proxies given by corporations must be signed by a director and company secretary or two directors or a sole director/secretary or its duly authorised attorney.

4. Proxy forms and any authorities (or certified copies of those authorities) under which they are signed must be delivered in person, by mail, by fax or electronically to the Company's Share Registry (see details below) no later than 48 hours before the meeting, being 10.30am 25 November 2014. Further details are contained on the proxy form.

5. Relevant custodians may lodge their proxy forms online by visiting www.intermediaryonline.com.

6. If the proxy form is signed but is blank in all other material respects, it will be taken to mean that it is in favour of the Chairman of the meeting for full voting rights and the Chairman will vote in favour of the resolution on a poll.

7. A proxy may decide whether to vote on any motion, except where the proxy is required by law, the ASX Listing Rules or the Constitution to vote, or abstain from voting, in their capacity as proxy. If a proxy is directed to vote on an item of business, the proxy may vote on that item only in accordance with the direction. If a proxy is not directed how to vote on an item of business, the proxy may vote as they think fit.

8. Amendments to the Corporations Act 2001 (Cth) (Corporations Act) have been made recently which apply to proxy voting. Shareholders and their proxies should be aware of these changes to the Corporations Act, as they will apply to this meeting. Broadly, the changes mean that:

9. (a) if proxy holders vote, they must cast all directed proxies as directed; and

10. (b) any directed proxies which are not voted will automatically default to the Chairman of the meeting, who must vote the proxies as directed.

3

1. A proxy form accompanies this Notice of Meeting.

2. The proxy form accompanying this Notice contains detailed instructions regarding how to complete the proxy form if a Shareholder wishes to appoint the Chairman as his or her proxy. You should read those instructions carefully.

3. Except where paragraph 12 immediately below applies, in relation to Resolutions 4, 5, 6 and 7 a proxy must not vote if:

4. (a) they are a KMP or a Closely Related Party of a KMP; and

5. (b) their appointment as proxy does not specify the way they are to vote on the Resolution.

6. By appointing the Chairman of the meeting as your proxy in relation to Resolutions 4, 5, 6 and 7 you expressly authorise the Chairman to vote in favour of those Resolutions unless:

7. (a) you direct the Chairman to vote against or to abstain from voting on those Resolutions; or

8. (b) you are a member of the KMP.

Voting in Person or by attorney

1. Shareholders or their attorneys wishing to vote in person should attend the Annual General Meeting. Persons are asked to arrive at least 30 minutes prior to the commencement of the Annual General Meeting so that their Shareholding may be checked against the relevant register and their attendance noted.

2. Attorneys should bring with them the original or a certified copy of the power of attorney under which they have been authorised to attend and vote at the meeting, unless it had already been provided to Computershare Investor Services Pty Limited.

Voting by corporate representative

  19. Corporate Shareholders or corporate proxies voting by corporate representatives should:

     - (a) obtain an appointment of corporate representative from Computershare Investor Services Pty Limited;

     - (b) complete and sign the form in accordance with the instructions on it; and

     - (c) bring the completed and signed form with them to the relevant meeting.

1. The Chairman of the meeting intends to exercise all open proxies by voting in favour of Resolutions 1, 2, 3, 4, 5, 6 and 7.

2. Proxies may be lodged with Company:

3. (a) by mail, to Computershare Investor Services Pty Limited, using the enclosed reply envelope to:

Postal address

GPO Box 242 Melbourne VIC 3001

• (b) by facsimile:

  • (within Australia) 1800 783 447

  • (outside Australia) +61 3 9473 2555

• (c) online at www.investorvote.com.au. To log in you will need your 6 digit Control Number as well as your Holder Identification Number or Security Reference Number which are shown on your proxy form.

• Enquiries can be made at 1300 850 505 (within Australia) or +61 3 9415 4000 (outside Australia) between 8.30am and 5.30pm (Melbourne time), Monday to Friday.

Entitlement to vote

1. The Company has determined that the persons entitled to attend and vote at the Annual General Meeting will, be those persons set out in the register of Shareholders as at 7:00 pm (Sydney time) on Tuesday, 25 November 2014.

4

EXPLANATORY INFORMATION

1. Financial statements and reports

At the Annual General Meeting, Shareholders will be given an opportunity to ask questions and comment on the Directors' Report, Financial Statements and Independent Auditor's Report for the financial year ended 30 June 2014.

Shareholders who have elected not to receive a hard copy of the Company's 2014 Annual Report, can view or download a copy from the Company's website at www.maynepharma.com.

The Company's auditor will be present at the meeting and be available to answer questions as to the conduct of the audit and the auditor's report.

Shareholders should note that the sole purpose of tabling the Directors' Report, Financial Statements and Independent Auditor's Report of the Company at the Annual General Meeting is to provide Shareholders with the opportunity to ask questions or discuss matters arising from them. It is not the purpose of the meeting that the Directors' Report, Financial Statements and Independent Auditor's Report be accepted, rejected or modified in any way. Further, as it is not required by the Corporations Act, no resolution to adopt, receive or consider the Company's Directors' Report, Financial Statements and Independent Auditor's Report will be put to Shareholders at the meeting.

Election of Directors – Resolutions 1, 2 and 3

2.

Under rule 3.6 of the Company's constitution, at each annual general meeting one third (or if that is not a whole number, the whole number nearest to one third) of the Company's directors (excluding Mr Scott Richards, the CEO and Managing Director) must retire from office and seek re-election.

Resolution 1 – Roger Corbett, AO

Resolution 1 seeks approval for the re-election of Mr Roger Corbett as a Director with effect from the end of the Annual General Meeting.

Mr Roger Corbett was appointed to the Board on 17 November 2010 and he became Chairman on 27 January 2011.

Mr Roger Corbett has been involved in the retail industry for more than 40 years. In 1984, Mr Roger Corbett joined the board of David Jones Australia as a Director of Operations and in 1990 was appointed to the board of Woolworths Limited and to the position of Managing Director of BigW. In 1999, Mr Roger Corbett was appointed Chief Executive Officer of Woolworths Limited, from which he retired in 2006. Mr Roger Corbett is currently the Chairman of Fairfax Media Limited one of Australia’s largest diversified media companies, a Director of the Reserve Bank of Australia, a director of Wal-Mart Stores and was previously Chairman of PrimeAg Australia Limited.

Resolution 2 – The Hon. Ron Best

Resolution 2 seeks approval for the re-election of The Hon. Ron Best as a Director with effect from the end of the Annual General Meeting.

The Board appointed The Hon. Ron Best as a Director of the Company on 28 July 2006.

The Hon. Ron Best is a highly respected former member of the Victorian Parliament (1988 to 2002), having held a number of senior positions in the National Party of Australia (Victoria) including; Parliamentary Secretary, Shadow Minister for Housing and Spokesman for Health, Housing, Racing, Sport and Recreation. The Hon. Ron Best has also been a member of various Parliamentary Committees including the Public Accounts and Estimates Committee, the Environmental and Natural Resources Committee and a Board Member of the Victorian Health Promotion Foundation. Prior to his political career Mr Best was the owner of a successful food distribution business and General Manager of the Glacier Food Group. Since retiring from politics in 2002, The Hon. Ron Best has consulted for privately owned companies in the food services industry.

Resolution 3 – Professor Bruce Robinson

Resolution 3 seeks approval for the election of Professor Bruce Robinson as a Director with effect from the end of the Annual General Meeting.

The Board appointed Professor Bruce Robinson as a Director of the Company on 26 August 2014.

Professor Robinson is Dean of Sydney Medical School at the University of Sydney, a position he has held since 2007. As Dean, he leads one of the largest medical schools in Australia. Professor Robinson is an Endocrinologist and practices at Sydney’s Royal North Shore Hospital. Professor Robinson has been the head of the Cancer Genetics Unit at the Kolling Institute of Medical Research, Royal North Shore Hospital since 1989. Since 2001, Professor Robinson has been Chairman of Hoc Mai Foundation, a major program in medical and health education and exchange with Vietnam. He is a Board Member of the Woolcock Institute, the ANZAC Research Institute for Cancer Research, the Centenary Institute for Cancer Research, the Royal Flying Doctor Service (South-Eastern Division) and is Chair of RFDS Medical Advisory Committee.

The Directors (other than the relevant Director in relation to his own election/re-election) unanimously recommend that Shareholders vote in favour of Resolutions 1, 2 and 3.

5

4. Remuneration Report – Resolution 4

The Annual Report for the financial year ended 30 June 2014 contains a Remuneration Report, which forms part of the Director’s Report and sets out the remuneration policy for the consolidated entity comprising the Company and its controlled entities and reports on the remuneration arrangements in place for key management personnel (KMP). It includes information on the elements of remuneration that are performance based, the performance conditions that apply and the methodology used to assess satisfaction of those performance conditions.

The voting on this Resolution is advisory only, and does not bind the Directors of the Company. However, a reasonable opportunity for discussion of the Remuneration Report will be provided at the meeting.

Each of the Directors recommends the report to Shareholders for adoption.

Other

5.

Resolution 5 – Increase in Maximum Aggregate Annual Remuneration Payable to Non-Executive Directors.

In accordance with ASX Listing Rule 10.17 and the Constitution, Shareholders must approve the maximum aggregate annual remuneration payable to Non-Executive Directors of the Company. This maximum amount includes Board fees, Committee fees and employer superannuation contributions. It does not include fees paid to Directors when providing services to the Company other than in their capacity as Directors, and does not apply to Executive Directors of the Company.

Currently, the Non-Executive Directors of the Company are Roger Corbett, Ron Best, Bruce Mathieson, Ian Scholes, Phil Hodges and Bruce Robinson. For the financial year ended 30 June 2014 Non-Executive Directors received total cash payments, including superannuation contributions, of $384,033.

The Board reviewed the level of fees payable to nonexecutive directors against those paid by companies of a similar market capitalisation, to ensure that they are appropriate to attract and retain directors of appropriate calibre and to reflect the increasing workload of the Board as the Company grows.

As a result of the review, the Board determined to increase the annual fees payable to each non-executive director from $70,000 to $77,500, with the Chairman’s annual fee being increased from $110,000 to $ 140,000, both excluding superannuation.

A maximum aggregate amount of annual remuneration for Non-Executive Directors of $500,000 was approved by Shareholders at the Annual General Meeting held on 17 November 2010, and the Directors consider it appropriate to seek a fresh Shareholder approval at this General Meeting in light of the increased number and calibre of Non-Executive Directors to the Board. The Directors consider it appropriate to propose an increase in the aggregate by $200,000 to $700,000 per annum at this time to have sufficient margin to remunerate the Non-Executive Directors that recently joined the Company and any future Directors that may join the Board.

Over the last year, the Board has taken steps to further enhance the experience and expertise represented on the Board. Professor Bruce Robinson was appointed in August 2014. In addition, Phil Hodges became a Non-Executive Director in January 2014 taking the number of Non-Executive Directors from four to six.

The new cap of $700,000 will make it possible for the Board to continue to pay fees to attract and retain the best Directors to the Board for the foreseeable future, while allowing, as appropriate, for increases in Board size and Director remuneration.

A full description of the Board’s approach to remuneration of Non-Executive Directors is set out in the Remuneration Report of the Company’s 2014 Annual Report.

The Company issued the following Shares to Non-Executive Directors under Listing Rule 10.11 with Shareholder approval in the last 3 years:

Date of shareholder approval	Non Executive Director	Number of Shares issued	Issue price
9 Nov 2012	Bruce Mathieson	15,220,878	$0.20
9 Nov 2012	Roger Corbett	1,676,319	$0.20

Resolution 6 – Approval of the Company's Employee Share Loan Scheme (ESLS)

Under Resolution 6, the Company is seeking Shareholder approval of the Company's ESLS. Approval is sought for the purposes of Listing Rule 7.2, exception 9, such that Shares issued under the ESLS will not be counted in calculating the Company's 15% issue limit under Listing Rule 7.1 for three years from the Company's 2014 annual general meeting.

6

A summary of the ESLS is set out below.

Eligibility for participation	Participation in the ESLS is open to eligible employees as determined by the Company.
Key terms of loan	The ESLS provides for a limited-recourse, interest free, five-year loan from the Company for the sole purpose of acquiring Shares. Any dividends paid on the ESLS Shares while the ESLS Shares are restricted are applied (on a notional after-tax basis) towards repaying the loan. The balance of the dividend is paid directly to the participant to fund his or her tax liability on the dividends received. Following the end of the applicable Performance Period, if the vesting conditions are met the ESLS Shares will vest and the participant will then have until the end of the five-year term to repay the loan. As this is a limited-recourse loan, if the value of the ESLS Shares is less than the outstanding loan balance at the end of the loan period, the ESLS Shares will be surrendered and forfeited in full settlement of the loan balance.
Number of Shares	The number of ESLS Shares to be allocated to a participant will be determined by dividing the value of the loan amount by the market price of the Shares, which for newly issued Shares, will be the volume weighted average price of Shares sold on the ASX during the period of five trading days up to the relevant grant date.
Vesting Conditions	The relevant vesting conditions applying to a participant's ESLS Shares will be outlined in the applicable offer letter.
Performance Period	It is generally intended that the ESLS
	Shares will have a three-year
	vesting/performance period, though the specific period will be outlined in the applicable offer letter.
Trading restrictions	The ESLS Shares are restricted until the end of the vesting / performance period and while the loan remains outstanding.
Cessation of employment	In general, all ESLS Shares are forfeited and surrendered if the participant ceases employment prior to the end of the Performance Period. However, the Board has discretion to determine that some or all of a participant's ESLS Shares may vest in appropriate circumstances.
Corporate Control Event	The Board may at its discretion determine that unvested Shares become vested if a 'Corporate Control Event' happens (eg a takeover, scheme of arrangement, a person acquires more than 50% of the Shares, etc).

As at the date of this Notice of Meeting, 982,858 Shares have been issued under the ESLS to the Group CFO & Company Secretary, as set out in the table below.

Date	Number of Shares issued under ESLS	Allocation Price (9/9/14)	Loan Repayment Date
9 Sep 2014	982,858	$0.7636	9 Oct 2019

Resolution 7 – Issue of Shares to the Chief Executive Officer and Managing Director under the ESLS

The Board’s remuneration policy for senior executives incorporates a strong element of remuneration linked to long-term company performance. Following the abolition of the short-term incentives for the CEO and Group CFO, all of the incentive component of their remuneration is now linked to the long-term success of the Company.

The ESLS provides a non-recourse loan for the sole purpose of acquiring Shares in the Company.

The Board believes that an equity-based long-term incentive is important to ensure an appropriate part of the executive’s reward is linked to generating long-term returns for Shareholders.

Under ASX Listing Rule 10.14, shareholder approval is required in order for a Director to be issued securities under an employee incentive scheme. Accordingly, Shareholders are asked to approve the issue of Shares under the ESLS to the Chief Executive Officer and Managing Director, Mr Scott Richards.

A brief overview of the ESLS offer to the Chief Executive Officer and Managing Director is set out below (the summary of the ESLS provided for Resolution 6 also applies to the offer to the Chief Executive Officer and Managing Director). Further details of Mr Richards’ remuneration package and the operation of the ESLS are set out in the Remuneration Report of the 2014 Annual Report.

Date of allocation

If Shareholder approval is obtained it is expected that the loan will be made and Shares will be allocated in December 2014, no later than 30 days after the AGM

Key terms of loan

As above in relation to Resolution 6. The amount of Scott Richards' loan will be set by the application of a multiplication factor to the dollar amount of his ESLS participation (refer Number and price of Shares section below). The factor, which is not expected to exceed 2.5 times, is based on the option value as determined at grant date using a Monte-Carlo simulation model and the five-day volume weighted average share price (VWAP) at grant date.

7

Number and price of Shares	The value of Mr Richards’ annual ESLS participation is determined by reference to a percentage of his fixed remuneration, currently 130%. In this current year the dollar amount of his ESLS participation is $845,000. The number of ESLS Shares allocated is determined by dividing the loan amount by the 5-day VWAP at grant date.
Performance Conditions	Shares will vest where an absolute total shareholder return (TSR) growth condition is met over the applicable period (three years) One half of the Shares will vest for compound annual absolute TSR growth of 10% per annum. All of the Shares will vest for compound annual absolute TSR growth of 15% per annum. Vesting will occur on a straight-line basis for performance between these two points (effectively 1% for each additional 0.1% of absolute TSR growth). The Board chose the absolute TSR growth targets to align executive reward with what the Board considers to be acceptable levels of return to Shareholders (ie between 10% and 15% compound annual growth) over the next three years. The Board considered the use of a relative performance condition but does not consider that there are a sufficient number of appropriate comparator pharmaceutical companies (ie of similar size) listed in Australia.
Performance Period	A three-year vesting period will apply to the Shares. Given the inherent uncertainty regarding the timing of receiving regulatory approvals for new products, the Board has determined that it is appropriate that if the Shares do not vest at the end of the three-year performance period, the applicable performance conditions will be retested every six months until expiry of the five-year term of the loan.
Trading restrictions	As above in relation to Resolution 6
Cessation of employment	As above in relation to Resolution 6

The Board unanimously recommends that Shareholders vote in favour of Resolutions 5, 6 and 7.

GLOSSARY

In this booklet:

Annual General Meeting or Meeting means the annual general meeting of the Company to be held on 27 November 2014 at 10.30am at Minter Ellison, Level 23, 525 Collins Street, Melbourne, Victoria, 3000.

Annual Report means the annual report of the Company in respect of the financial year ending 30 June 2014.

Board means the board of directors of the Company or, where the relevant powers or authorities delegated by the board to a sub committee of the board, that sub committee.

Chairman means the chairman of the Board.

Closely Related Party means any of the following:

• (a) a spouse, child or dependant of the member;

• (b) a child or dependant of the member's spouse;

• (c) anyone else who is one of the member's family and may be expected to influence, or be influenced by, the member in the member's dealings with the Company;

• (d) a company the member controls; or

• (e) a person prescribed by regulations (as at the date of this notice, no additional persons have been prescribed by regulation)

Company means Mayne Pharma Group Limited ACN 115 832 963.

Constitution means the constitution of the Company.

Corporations Act means the Corporations Act 2001 (Cth) and includes any regulations made under that Act and any exemption or modification to that Act which applies to the Company.

Director means a director of the Company as at the date of this Explanatory Memorandum.

ESLS means the Company's Employee Share Loan Scheme.

Explanatory Memorandum means the explanatory memorandum attaching to and forming part of the Notice of Meeting.

KMP means those persons having authority and responsibility for planning, directing and controlling the activities of the Company, whether directly or indirectly. KMP personnel include its Directors and certain senior executives.

Notice of Meeting means this notice of meeting and Explanatory Memorandum.

Resolution means a resolution referred to in this Notice of Meeting.

Share means a fully paid ordinary share in the Company.

Shareholder or Member means a holder of at least one Share.

8

Lodge your vote:

ABN 76 115 832 963

==> picture [53 x 14] intentionally omitted <==

----- Start of picture text -----

 Online:
----- End of picture text -----

www.investorvote.com.au



By Mail:

Computershare Investor Services Pty Limited GPO Box 242 Melbourne Victoria 3001 Australia

T 000001 000 MYX MR SAM SAMPLE FLAT 123 123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Alternatively you can fax your form to (within Australia) 1800 783 447 (outside Australia) +61 3 9473 2555

For Intermediary Online subscribers only (custodians) www.intermediaryonline.com

For all enquiries call:

(within Australia) 1300 850 505 (outside Australia) +61 3 9415 4000

Proxy Form

Vote and view the annual report online



• Go to www.investorvote.com.au or scan the QR Code with your mobile device.

• • Follow the instructions on the secure website to vote.

Your access information that you will need to vote:

Control Number: 999999 SRN/HIN: I9999999999 PIN: 99999

PLEASE NOTE: For security reasons it is important that you keep your SRN/HIN confidential.

==> picture [92 x 92] intentionally omitted <==

For your vote to be effective it must be received by  10.30am (Melbourne time) Tuesday, 25 November 2014 How to Vote on Items of Business

Signing Instructions for Postal Forms

All your securities will be voted in accordance with your directions.

Individual: Where the holding is in one name, the securityholder must sign.

Appointment of Proxy

Joint Holding: Where the holding is in more than one name, all of the securityholders should sign.

Voting 100% of your holding: Direct your proxy how to vote by marking one of the boxes opposite each item of business. If you do not mark a box your proxy may vote or abstain as they choose (to the extent permitted by law). If you mark more than one box on an item your vote will be invalid on that item.

Power of Attorney: If you have not already lodged the Power of Attorney with the registry, please attach a certified photocopy of the Power of Attorney to this form when you return it.

Companies: Where the company has a Sole Director who is also the Sole Company Secretary, this form must be signed by that person. If the company (pursuant to section 204A of the Corporations Act 2001) does not have a Company Secretary, a Sole Director can also sign alone. Otherwise this form must be signed by a Director jointly with either another Director or a Company Secretary. Please sign in the appropriate place to indicate the office held. Delete titles as applicable.

Voting a portion of your holding: Indicate a portion of your voting rights by inserting the percentage or number of securities you wish to vote in the For, Against or Abstain box or boxes. The sum of the votes cast must not exceed your voting entitlement or 100%.

Appointing a second proxy: You are entitled to appoint up to two proxies to attend the meeting and vote on a poll. If you appoint two proxies you must specify the percentage of votes or number of securities for each proxy, otherwise each proxy may exercise half of the votes. When appointing a second proxy write both names and the percentage of votes or number of securities for each in Step 1 overleaf.

Attending the Meeting

Bring this form to assist registration. If a representative of a corporate securityholder or proxy is to attend the meeting you will need to provide the appropriate “Certificate of Appointment of Corporate Representative” prior to admission. A form of the certificate may be obtained from Computershare or online at www.investorcentre.com under the help tab, "Printable Forms".

A proxy need not be a securityholder of the Company.

Comments & Questions: If you have any comments or questions for the company, please write them on a separate sheet of paper and return with this form.

GO ONLINE TO VOTE,  or turn over to complete the form

Samples/000001/000001/i

MR SAM SAMPLE FLAT 123 123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

==> picture [18 x 18] intentionally omitted <==



Change of address. If incorrect, mark this box and make the correction in the space to the left. Securityholders sponsored by a  broker (reference number commences with ’ X ’) should advise your broker of any changes. I 9999999999 I ND

==> picture [21 x 21] intentionally omitted <==

Proxy Form

Please mark

to indicate your directions

Appoint a Proxy to Vote on Your Behalf

XX

I/We being a member/s of Mayne Pharma Group Limited hereby appoint

==> picture [21 x 21] intentionally omitted <==

the Chairman of the Meeting

 PLEASE NOTE: Leave this box blank if OR you have selected the Chairman of the Meeting. Do not insert your own name(s).

or failing the individual or body corporate named, or if no individual or body corporate is named, the Chairman of the Meeting, as my/our proxy to act generally at the Meeting on my/our behalf and to vote in accordance with the following directions (or if no directions have been given, and to the extent permitted by law, as the proxy sees fit) at the Annual General Meeting of Mayne Pharma Group Limited to be held at Minter Ellison, Level 23, 525 Collins Street, Melbourne, Victoria on Thursday, 27 November 2014 at 10.30am (Melbourne time) and at any adjournment or postponement of that Meeting.

Chairman authorised to exercise undirected proxies on remuneration related resolutions : Where I/we have appointed the Chairman of the Meeting as my/our proxy (or the Chairman becomes my/our proxy by default), I/we expressly authorise the Chairman to exercise my/our proxy on resolutions 4, 5, 6 & 7 (except where I/we have indicated a different voting intention below) even though resolutions 4, 5, 6 & 7 are connected directly or indirectly with the remuneration of a member of key management personnel, which includes the Chairman.

Important Note: If the Chairman of the Meeting is (or becomes) your proxy you can direct the Chairman to vote for or against or abstain from voting on resolutions 4, 5, 6 & 7 by marking the appropriate box in step 2 below.

Items of Business 

PLEASE NOTE:If you mark theAbstainbox for an item, you are directing your proxy not to vote on your behalf on a show of hands or a poll and your votes will not be counted in computing the required majority.
For Against Abstain

			For	Again	st Abstain
Resolution	1	Re-election of Mr Roger Corbett, AO
Resolution	2	Re-election of The Hon. Ronald Best
Resolution	3	Election of Professor Bruce Robinson
Resolution	4	Remuneration Report (Non-binding advisory vote)
Resolution	5	Increase in Maximum Aggregate Annual Remuneration Payable to Non-Executive Directors
Resolution	6	Approval of the Company's Employee Share Loan Scheme
Resolution	7	Issue of Shares to Chief Executive Officer and Managing Director under the Employee Share Loan Scheme (ESLS)

The Chairman of the Meeting intends to vote undirected proxies in favour of each item of business. In exceptional circumstances, the Chairman of the Meeting may change his/her voting intention on any resolution, in which case an ASX announcement will be made.

SIGN

Signature of Securityholder(s) This section must be completed.

==> picture [504 x 77] intentionally omitted <==

----- Start of picture text -----

Individual or Securityholder 1 Securityholder 2 Securityholder 3
Sole Director and Sole Company Secretary Director Director/Company Secretary
Contact
Contact Daytime / /
Name Telephone Date
----- End of picture text -----

1 8 9 7 2 5 A

M Y X