MAYNE PHARMA GROUP LIMITED — Earnings Release 2014

Feb 5, 2014

ASX Announcement

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MAYNE PHARMA RESULTS AND PRODUCT UPDATE

6 February 2014, Melbourne Australia:

First half FY14 preliminary financial performance

Mayne Pharma Group Limited (Mayne Pharma or the Company) is pleased to provide this update to the market on the Company’s preliminary results for the six month period ended 31 December 2013 which are ahead of expectations.

Highlights of Mayne Pharma's expected preliminary first half FY14 results include:

• Total revenue of between $68.0 - $71.0 million;

• Underlying EBITDA of between $18.6 - $19.1 million;

• Reported EBITDA of between $17.7 - $18.2 million; and

• Reported NPAT of between $8.2 - $8.4 million.

The Group result reflects a strong performance across all operating segments and was driven by recent business and product acquisitions, new product launches, increased market penetration of existing products and more favourable exchange rates. Total revenue is expected to be up by more than 20% on the 2HFY13 period and underlying EBITDA is expected to be up by more than 45%.

Adjustments to Reported EBITDA in the first half include:

• $0.2m of acquisition costs in relation to the Libertas acquisition;

• $0.3m relating to the non-cash charge arising from the increase in the fair value of the earn-out liability associated with the Mayne Pharma International Pty Ltd (MPI) acquisition in November 2009; and

• A provision of $0.4m has been recognised at 31 December 2013 for a proposed settlement agreement entered into by Warner Chilcott, Mayne Pharma and the direct purchaser class of plaintiffs in the Doryx anti-trust action in the USA. This will be payable subject to the approval of the Court, and certain other conditions. Following this payment, Mayne Pharma does not anticipate any further liability in relation to this matter.

Cash on hand at 31 December 2013 of $19.8 million was slightly higher than the position at the end of 30 June 2013. The Company’s bank debt at 31 December 2013 stood at $55.5 million up from $46.7 million at 30 June 2013 largely due to the use of debt to partially fund the payment of the earn-out for the Metrics, Inc. acquisition.

These results are subject to the completion of the Auditor’s review and final sign-off by the Board. The Board intends to announce the full half-year results on Wednesday 26 February.

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ASX Announcement

Generic Doxycycline portfolio expanded

In the United States, Mayne Pharma USA has launched generic Doxycycline Hyclate DelayedRelease 150mg Tablets. Doxycycline Hyclate Delayed-Release 150mg Tablets had sales of more than US$100 million for the 12 months ending 31 December 2013, according to IMS Health. This product complements the existing doxycycline generic franchise that also includes the 75mg and 100mg dose strengths that were launched in July 2013.

For further information contact: Scott Richards +61 8 8209 2410 Mark Cansdale +61 8 8614 7777 Lisa Pendlebury +61 419 548 434, lisa.pendlebury@maynepharma.com

About Mayne Pharma

Mayne Pharma is an ASX-listed specialty pharmaceutical company that develops and manufactures branded and generic product globally - either directly or through distribution partners, while applying its drug delivery expertise for contract development and manufacturing services.

Mayne Pharma has a 30-year track record of innovation and success in developing new oral drug delivery systems and these technologies have been successfully commercialised in numerous products that have been marketed around the world.

Mayne Pharma has two drug development and manufacturing facilities based in Salisbury, Australia and Greenville, NC, USA with expertise in formulating complex oral dose forms including highly potent compounds, controlled substances, modified release products and inherently unstable compounds.