MAYNE PHARMA GROUP LIMITED — M&A Activity 2025

Nov 3, 2025

ASX Announcement

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MAYNE PHARMA: UPDATE ON STATUS OF FIRB APPROVAL AND NOTICE OF HEARING TO APPROVE THE PROPOSED SCHEME OF ARRANGEMENT

4 November 2025, Adelaide, Australia: Mayne Pharma Group Limited ACN 115 832 963 (ASX:MYX) ( Mayne Pharma ) refers to its announcement on 31 October 2025 providing an update on the status of Foreign Investment Review Board ( FIRB ) approval, its announcement on 21 October 2025 regarding the Second Court Hearing and its announcement on 15 May 2025 in relation to:

• the proposed scheme of arrangement under which it is proposed that Cosette Australia BidCo Pty Ltd ACN 685 921 126 will acquire 100% of the shares in Mayne Pharma by way of a scheme of arrangement ( Scheme ), subject to all applicable conditions being satisfied or waived (as applicable); and

• the orders made by the Supreme Court of New South Wales that Mayne Pharma convene a meeting of Mayne Pharma shareholders ( Scheme Meeting ) to consider and vote on the resolution to approve the Scheme ( Scheme Resolution ) and approving the distribution of an explanatory statement providing information about the Scheme and the Notice of Scheme Meeting ( Scheme Booklet ) to Mayne Pharma shareholders.

As previously announced to the ASX, Mayne Pharma shareholders approved the Scheme by the requisite majorities at the Scheme Meeting held on 18 June 2025. The Court hearing to approve the Scheme ( Second Court Hearing ) has been rescheduled to take place at 8.30am (AEDT) on Tuesday, 18 November 2025 at the Supreme Court of New South Wales, 184 Phillip St, Sydney NSW 2000.

Following Mayne Pharma’s announcement on 31 October 2025, FIRB extended the statutory deadline to 7 November 2025. FIRB also requested that Cosette confirm its agreement to a further voluntary extension to 14 November 2025 and indicated that the statutory deadline may be unilaterally extended by FIRB to 14 November 2025 if necessary. The Second Court Hearing is still in advance of the End Date under the Scheme Implementation Deed, being 20 November 2025.

If FIRB approval is received prior to 14 November 2025, Mayne Pharma may ask the Court to bring forward the date for the Second Court Hearing promptly following FIRB approval. Mayne Pharma will keep shareholders updated if such a request is made.

Any Mayne Pharma shareholder has a right to appear and be heard at the Second Court Hearing and may oppose the approval of the Scheme.

If you wish to oppose the approval of the Scheme, you must file with the Court and serve on Mayne Pharma a notice of appearance in the prescribed form, together with any affidavit on which you wish to rely at the hearing. The notice of appearance and affidavit must be served on Mayne Pharma at its address for service at least 1 day before the Second Court Hearing.

Mayne Pharma's address for service is c/- Gilbert+ Tobin, Level 35, Tower Two, International Towers, 200 Barangaroo Avenue, Sydney NSW 2000 (Attention: Alexandra Whitby).

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ASX Announcement

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Authorised for release to the ASX by the Board Chair

For further information contact:

Dr Tom Duthy Investor Relations +61 402 493 727 ir@maynepharma.com

About Mayne Pharma

Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel pharmaceuticals, offering patients better, safe and more accessible medicines. Mayne Pharma is a leader in dermatology and women’s health in the United States and also provides contract development and manufacturing services to clients worldwide. Mayne Pharma has a 40year track record of innovation and success in developing new oral drug delivery systems. These technologies have been successfully commercialised in numerous products that continue to be marketed around the world. To learn more about Mayne Pharma, please visit maynepharma.com.

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