Mayne Pharma Group (MYX) Investor update summary

Transaction overview

• Binding agreement to sell MPI to Evaris Pharma for AUD 55.5m cash at completion, subject to customary working-capital adjustments; completion expected in 3Q FY27 (January/February 2027).

• Consideration equals 0.79x MPI FY26 revenue of AUD 70.7m and 12.1x FY26 direct contribution of AUD 4.6m; MPI contributed ~4% of FY26 direct contribution.

• Pro forma cash and marketable securities of AUD 122.8m, including AUD 67.3m held at 30 September 2026 and sale proceeds.

• Completion requires ACCC determination under mandatory merger notification rules; no FIRB or shareholder approval, or financing condition, is required.

Strategic rationale and priorities

• Sale completes the transition to a specialty pharmaceutical business focused 100% on the U.S., prioritizing Women's Health, Dermatology and DistributeRx.

• Proceeds support high-return U.S. investment under clear return hurdles and a debt-light balance sheet; potential uses included acquisitions, in-licensing or a share buyback, with no decision made.

• Women's Health priorities include market penetration, portfolio economics, high-value prescriber targeting, payer contracting and patient access.

• Dermatology priorities include expanding DistributeRx and manufacturing partnerships, targeted brand acquisitions, and shifting toward higher-value brands and channels.

MPI profile and transition

• MPI includes the Salisbury manufacturing and development site, Australian commercial business, CDMO, export and international supply activities; approximately 240 employees are expected to remain at closing.

• Salisbury's AUD 18m upgrade included AUD 4.8m in government funding; on-time, in-full delivery was 97.4% at 30 June 2026.

• Australian NEXTSTELLIS® rights, PBS-listed from 1 October 2025, are included in the sale; demand cycles grew 127% in FY26. BLISSEL® rights, the Women's Health commercial team and registrations are also included; launch is targeted for FY28.

• Expanded Salisbury capacity supports third-party CDMO growth and international supply, including KADIAN® in Canada; Evaris cited opportunities to expand contract manufacturing and build on portfolio momentum.

• U.S. Women's Health, Dermatology and DistributeRx businesses are retained; supply arrangements maintain Salisbury manufacture of DORYX MPC and TOLSURA, with transitional services and brand licences continuing for a limited period after completion.