MAYNE PHARMA GROUP LIMITED — Capital/Financing Update 2015

Feb 9, 2015

10 February 2015

Manager, Company Announcements ASX Limited Rialto Towers Level 45, 525 Collins Street MELBOURNE VIC 3000

Dear Sir/Madam,

Notice under section 708AA(2)(f) of the Corporations Act 2001 (Cth) as notionally modified by ASIC Class Order 08/35

This notice is given by Mayne Pharma Group Limited ACN 115 832 963 ( Mayne Pharma ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) as notionally modified by the Australian Securities and Investments Commission Class Order 08/35 (CO 08/35).

Mayne Pharma announced on 10 February 2015 a fully underwritten accelerated non renounceable entitlement offer ( Entitlement Offer ) of one fully paid ordinary share in Mayne Pharma ( New Shares ) for 3.45 fully paid ordinary shares held in Mayne Pharma as at 7.00pm (AEST) on 13 February 2015 by shareholders with a registered address in Australia or New Zealand.

Mayne Pharma advises that:

• (a) the New Shares will be offered for issue without disclosure to investors under Part 6D.2 of the Act;

• (b) this notice is being given under section 708AA(2)(f) of the Corporations Act as notionally modified by CO 08/35;

• (c) as at the date of this notice, Mayne Pharma has complied with:

  • (i) the provisions of Chapter 2M of the Corporations Act as they apply to Mayne Pharma; and (ii) section 674 of the Corporations Act;

• (d) as at the date of this notice, there is no excluded information of the type referred to in sections 708AA(8) and 708AA(9) of the Corporations Act as notionally modified by CO 08/35; and

• (e) the potential effect that the Entitlement Offer will have on the control of Mayne Pharma, and the consequences of that effect, will depend on a number of factors, including investor demand and existing shareholdings. However, because of the structure of the Entitlement Offer as a pro rata issue and the fact that no Mayne Pharma shareholder currently has or is expected to have after the Entitlement Offer voting power exceeding 20% in Mayne Pharma, the Entitlement Offer is not expected to have any material effect or consequence on the control of Mayne Pharma

Yours sincerely

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Mark Cansdale Group CFO & Company Secretary

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