MAYNE PHARMA GROUP LIMITED — Capital/Financing Update 2016

Jul 19, 2016

20 July 2016

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

Dear Sir / Madam

MAYNE PHARMA GROUP LIMITED ANNOUNCES SUCCESSFUL COMPLETION OF THE RETAIL ENTITLEMENT OFFER

KEY POINTS

• Successful completion of the Retail Entitlement Offer, raising approximately A$254 million

• Eligible Retail shareholders have taken up 88% of their Entitlements

• Additional shares allocated to eligible retail shareholders under the Top-Up Offer

Mayne Pharma Group Limited (ASX: MYX) ( Mayne Pharma ) is pleased to announce the successful completion of the retail component of the entitlement offer announced on 28 June 2016. The Retail Entitlement Offer was underwritten and raised approximately A$254 million.

Eligible retail shareholders strongly supported the Retail Entitlement Offer, taking up 88% of their entitlements. In addition, applications for additional shares by eligible retail shareholders under the Top-Up Offer were sufficient to cover the size of the Retail Entitlement Offer shortfall and have been scaled back (refer below). As a result, no shortfall shares will be issued to the underwriters.

TOP-UP OFFER SCALE BACK POLICY

Applications by eligible retail shareholders for additional new shares under the Top-Up Offer have been allocated approximately 65% of the additional new shares for which they applied up to the 50% cap. This allocation of additional new shares under the Top-Up Offer is in addition to each shareholder's entitlement under the 1-for-1.725 Retail Entitlement Offer. Refunds for the unallocated proportion of applications for additional new shares under the Top-Up Offer will be paid on Tuesday, 26 July 2016. Refunds will be paid by direct credit to shareholders who have provided their bank account details to the Company’s share registry before close of business on 20 July 2016. Otherwise payments will be sent by cheque.

The new shares to be issued under the Retail Entitlement Offer will rank equally with existing Mayne Pharma shares in all respects from the date of their issue. New shares are expected to commence trading on the ASX on a normal settlement basis on 25 July 2016.

Yours sincerely

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Mark Cansdale Group CFO & Company Secretary

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