Improving patient access to life-enhancing medications

Mayne Pharma’s CEO, Mr Aaron Gray said “In the first half of FY26 we delivered resilient earnings, with disciplined margin management supporting a meaningful improvement in group gross margin, despite obvious uncertainty from the Cosette transaction process. Dermatology delivered a strong uplift in direct contribution, reflecting channel execution and favourable mix, while we continued to invest in Women’s Health sales and promotional activity to support growth across our portfolio. As previously disclosed, Scheme‑related legal costs and scheduled earn-out payments weighed on cash flow during the half, and we remain focused on balancing disciplined investment with cost control and shareholder value. Looking forward, we continue to evaluate a variety of capital allocation priorities including share repurchases, targeted asset acquisitions, and expanding our promotional activities across our segments.”

Mayne Pharma Group Limited (Mayne Pharma or the Company) (ASX: MYX), today announces a planned leadership transition. On 20 February 2026 (US time) Mr Shawn Patrick O’Brien stepped down as Chief Executive Officer and Managing Director, and Mr Aaron Gray, currently Mayne Pharma’s Chief Financial Officer, was appointed Chief Executive Officer.

Mayne Pharma’s CEO, Mr Shawn Patrick O’Brien said “Overall, the performance of the business in FY25 generated significant underlying EBITDA growth, reflecting revenue growth with modest increases in our operating costs. Our Women’s Health business continued to benefit from our targeted sales, marketing and education initiatives and effective channel management. For Dermatology, we look forward to the impact of the US market launches of our newly acquired products EPSOLAY® and TWYNEO® in FY26 (launched during this current quarter) and continued growth from Adelaide Apothecary, which achieved EBITDA break even in FY25.”

Mayne Pharma’s CEO, Mr Shawn Patrick O’Brien said “We are very pleased with the performance of the Mayne Pharma business in the first half, with robust revenue growth recorded, particularly within our Women’s Health segment.” “Our broad portfolio in Dermatology and Women’s Health leverages our existing commercial infrastructure and strengthens our market presence. Our refined US channel strategy has not only increased margins but importantly, is providing greater patient access.”

Mayne Pharma Group Limited announces that it has entered into a scheme implementation deed with Cosette Pharmaceuticals, Inc. under which Cosette has agreed to acquire 100% of the shares in Mayne Pharma by way of a Scheme of Arrangement at a price of A$7.40 per share.

Mayne Pharma’s CEO, Mr Shawn Patrick O’Brien said “Mayne Pharma has delivered a significant improvement in Group performance, achieving all five key operating metrics including a positive direct contribution from all three business segments and a positive underlying EBITDA in FY24.”