MAYNE PHARMA GROUP LIMITED — Capital/Financing Update 2012

Oct 18, 2012

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19 October 2012

Dear Shareholder,

MAYNE PHARMA GROUP LIMITED PRO-RATA ACCELERATED NON-RENOUNCEABLE RETAIL ENTITLEMENT OFFER

On 4 October 2012, Mayne Pharma Group Limited ( Mayne Pharma ) announced an underwritten prorata accelerated non-renounceable entitlement offer of new Mayne Pharma ordinary shares ( New Shares ). The proceeds of the entitlement offer will be used to fund the proposed acquisition of Metrics, Inc. ( Metrics ).

All eligible retail shareholders should by now have received the Retail Offer Document and your personalised application and entitlement form which outlines the details of the entitlement offer and the process for applying for New Shares. As outlined in that document and in the accompanying form, retail shareholders are able to apply for more than their 1 for 1 entitlement by applying for additional New Shares under the Top Up Offer. The number of New Shares available under the Top Up Offer depends on the size of the shortfall in the entitlement offer created by retail shareholders who do not take up their entitlement in full.

There is no limit to the number of additional New Shares which can be applied for by retail shareholders (see Box B in the application and entitlement form). Mayne Pharma is committed to ensuring that each retail shareholder will be able to receive at least an additional 1.13 times their entitlement through either the Top Up Offer or the Additional Retail Offer, as discussed in the Retail Offer Document. This will ensure that these retail shareholders’ proportional dilution is minimised by the placement components of the overall offer.

The retail entitlement offer closes at 5pm (Melbourne time) on 29 October 2012. Further information about the retail offer is contained in the Retail Offer Booklet and you can also call the Share Registry on 1300 850 505 (within Australia) and +61 3 9415 4000 (outside Australia) between 8.30am and 5.30pm (Melbourne time) Monday to Friday.

I believe the acquisition of Metrics is going to be extremely exciting and positive for Mayne Pharma and will deliver ongoing profitability and growth in shareholder value. On behalf of the Board, I thank you for your ongoing support as a shareholder.

Yours sincerely

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Scott Richards CHIEF EXECUTIVE OFFICER

Mayne Pharma Group Limited ABN | 76 115 832 963 a | Level 14, 474 Flinders St, Melbourne Victoria 3000, Australia t | +61 3 8614 7777 f | +61 3 9614 7022 | www.maynepharma.com