Announcement PDF Mayne Pharma Group Limited FY26 Results Presentation Aaron Gray (CEO) Griffin Buchanan (CFO) 27 August 2026 2 Disclaimer The information provided is general in nature and is in summary form only. It is not complete and should be read in conjunction with the company’s audited Financial Statements and market disclosures. This material is not intended to be relied upon as advice to investors or potential investors. Non-IFRS information ● Other than as indicated, the financial information contained in this document is directly extracted or calculated from the audited Financial Statements. Throughout this document some non-IFRS financial information is stated, excluding certain specified income and expenses. Results excluding such items are considered by the Directors to provide a meaningful basis for comparison from period to period. ● Earnings before interest, tax, depreciation and amortisation (EBITDA) – a non-IFRS term – is considered by Directors to be a meaningful measure of the operating earnings and performance of the Group and this information may be useful for investors as it provides additional and relevant information that reflects the underlying performance of the business. ● The non-IFRS financial information has not been audited by the Group’s auditors. Forward looking statements ● This presentation contains forward-looking statements that involve subjective judgement and analysis and are subject to significant uncertainties, risks and contingencies, many of which are outside the control of, and are unknown to the Company. These forward looking statements use words such as ‘potential’, ‘expect’, ‘anticipate’, ‘intend’, ‘plan’ and ‘may’, and other words of similar meaning. No representation, warranty or assurance (express or implied) is given or made in relation to any forward looking statement by any person (including the Company). Actual future events may vary materially from the forward looking statements and the assumptions on which the forward looking statements are based. Given these uncertainties, readers are cautioned not to place undue reliance on such forward looking statements. Subject to the Company’s continuous disclosure obligations at law and under the listing rules of the Australian Securities Exchange, the Company disclaims any obligation to update or revise any forward looking statements. The factors that may affect the Company’s future performance include, among others: changes in economic conditions, changes in the legal and regulatory regimes in which the Company operates, litigation or government investigations, decisions by regulatory authorities, changes in behaviour of major customers, suppliers and competitors, interruptions to manufacturing or distribution, the success of research and development activities and research collaborations and the Company’s ability to protect its intellectual property. Other ● A glossary of industry terminology is contained in the Mayne Pharma Annual Report which can be accessed at https://investors.maynepharma.com/results-and-reports and product descriptions are detailed at maynepharma.com/us-products and maynepharma.com/au-products. ● DORYX®, FABIOR® and RHOFADE® are trademarks of Mayne Pharma. ANNOVERA®, BIJUVA®, EPSOLAY®, IMVEXXY®, KADIAN®, NEXTSTELLIS®, ORACEA®, TWYNEO® and WYNZORA® and are trademarks of third parties. 3 FY26 Corporate Highlights Realignment of Women’s Health Sales Force • Refreshed sales and marketing materials • Dedicated menopause and contraception field representation driving deeper specialist engagement with high-value prescribers • Increased focus on menopause given structural tailwinds including regulatory changes, awareness and strong market growth Launch of DistributeRx • A landmark step in Mayne Pharma's disintermediation strategy; DistributeRx launched in March 2026, which is a healthcare solutions business that partners with manufacturers to streamline the prescription distribution process and expand patient access to medications • Significantly exceeded expectations in FY26 with new automated facility to deliver seven-fold increase in capacity over two phases Cosette Transaction • Cosette transaction process and subsequent legal matters placed considerable demands on management focus and organisational bandwidth, including general disruption to the Mayne Pharma business • The Company received $14.4 million from Cosette in full satisfaction of court-ordered legal costs and interest • Outcome of Cosette appeal remains pending • Mayne Pharma damages claim against Cosette continues A year of resilience and focus against a backdrop of general operational distraction and disruption 4 Global Headcount & Sales Force Global footprint Australia 243 18% Employees FY26 sales mix United States 227 82% Employees FY26 sales mix T O TA L H E A D C O U N T 1 470 Employees 1. As at 30 June 2026 Salisbury, South Australia Lexington, KY | Raleigh, NC Current Women’s Health sales representation of ~90 persons Current DistributeRx sales representation of ~23 persons Mayne Pharma International products manufactured from Salisbury are sold across international markets (ex-US) inc. Canada, Europe, Asia, Australia and NZ 5 FY26 Financial Highlights1 1. All numbers are expressed in AUD/A$ terms unless otherwise stated. 2. Underlying EBITDA is a non-IFRS measure and excludes earn-out reassessments, restructuring charges, class action settlement costs, derivative fair value adjustments and litigation expense. 3. Excluding class action settlement and tax refund in FY25 and Scheme transaction and litigation costs in FY26. Margin expansion and resilient segment contribution through a year of disruption and reinvestment $383.7m Revenue down 6% FY25 64.7% Gross margin Up 4.1% from 60.6% FY25 $34.2m Underlying EBITDA2 down 27% from $47.0m FY25 $107.1m Total direct segment contribution down 2% from $109.7m FY25 $34.5m Adjusted operating cashflow from continuing operations3 down 24% from $45.4m FY25 $80.0m Cash and marketable securities at 30 June 2026 down from $100.4m FY25 FY26 Group Financial Performance 7 Group Continuing Operations Overview: Summary 1. Attributable to members. EBITDA excludes asset impairments. 2. Underlying EBITDA excludes ($125.6m) of earn-out reassessments, $25.7m litigation and restructuring charges, and ($7.3m) derivative fair value adjustments. 3. Excluding class action settlement and tax refund in FY25 and Scheme transaction and litigation costs in FY26. A$ million1 FY26 FY25 Change vs FY25 ($) Change vs FY25 (%) Reported Revenue 383.7 408.1 (24.4) -6% Reported Gross Profit 248.1 247.3 0.8 0% Reported Direct Contribution 107.1 109.7 (2.6) -2% Reported EBITDA 141.4 18.4 123.0 668% Underlying EBITDA2 34.2 47.0 (12.8) -27% Reported Net Profit (Loss) After Tax 31.2 (90.1) 121.3 135% Operating Cash Flow Continuing Ops 24.9 25.4 (0.5) -2% Adjusted Operating Cash Flow Continuing Ops3 34.5 45.4 (10.9) -24% • Reported Revenue driven by: - FX impact associated with appreciation of AUD versus USD - Decline in Dermatology associated with loss of certain insurance coverage and competitive erosion of certain brands - Decline in International associated with the transition from low to high margin product portfolio and exit from certain products • Reported Direct Contribution driven by: - Higher sales and marketing expense in Women’s Health - Investment in sales and marketing expense for NEXTSTELLIS® PBS listing in Australia - Increased direct OPEX in Dermatology directly attributed to increased volumes through Adelaide Apothecary - 11% increase in contribution from Dermatology 8 Group Continuing Operations Overview: EBITDA Reconciliation A$ million FY26 FY25 Change vs FY25 ($) Change vs FY25 (%) Reported EBITDA 141.4 18.4 123.0 668% Scheme legal fees (inc. litigation) 11.8 8.5 3.3 39% Earn-out Reassessments (125.6) 16.6 (142.2) -857% Fair Value Adjustment of Convertible Note Derivative (7.3) (1.7) (5.6) -329% Other Litigation and Restructuring 12.5 5.2 7.3 140% Other Adjustments 1.4 0.0 1.4 100% Underlying EBITDA1 34.2 47.0 (12.8) -27% • Reported EBITDA driven by: - Significant Scheme legal fees (including litigation) - Other litigation and restructuring charges - Non-cash earn-out reassessment for Women’s Health portfolio • Underlying EBITDA driven by: - General business disruption caused by Cosette transaction - Increased investment in Women's Health sales and marketing and higher post-market approval study costs - Foreign exchange: unfavourable movements of approximately $1.9 million, reflecting the appreciation of the Australian dollar against the US dollar during FY26 - Short-term incentives: no employee short-term incentives were paid in FY25, compared with $7.1 million in FY26 - Prior-period true-up: a managed care provider payment true-up benefit (accrual versus actual invoice received) of $5.6 million recognised in FY25 1. Underlying EBITDA is a non-IFRS measure and is unaudited . 9 34.5 -12.6 -12.5 -10.3 -2.9 -3.2 -2.9 -2.3 100.4 99.5 -8.1 88.4 80.0 Group Cash + Marketable Securities balance ($m) Investing & Financing (48% net cash used) 30 Jun 2026 Cash balance 30 Jun 2025 Cash balance 1. Certain items that are excluded from underlying EBITDA (ex. restructuring and certain litigation matters) are included in continuing operations as cash outflows in the figures shown above. Continuing operations1 (5% net cash used) Discontinued operations (46% net cash used) • Capital leases: -$3.2m • Capex (net): -$2.9m • Other: -$2.3m • Cash outflows for discontinued operations: -$8.1m • Earn out payments: -$2.9m • Cash for continuing operations (excl. transaction & litigation costs): +$34.5m1 • Cosette Litigation and Transaction Costs (net of $14.4m costs and interest received): -$12.6m • Earn out payments (royalties): -$12.5m • Earn out payments (TWYNEO® & EPSOLAY® intangible acquisition cost): -$10.3m Segment Performance 11 A$174.3, 46% A$138.7, 36% A$70.7, 18% FY26 Snapshot – Segments $107.1m FY26 Total Direct Contribution A$57.9, 54% A$44.5, 42% A$4.6, 4% Women’s Health FY26 Segment Contribution (A$m, % of total) Dermatology/DistributeRx International FY26 Revenue Contribution (A$m, % of total) 12 FY26 Segment Operating Highlights • Launch of TWYNEO® and EPSOLAY® • Successful launch of DistributeRx in March 2026 • Major expansion of Adelaide Apothecary over two phases to increase capacity by seven-fold to meet future demand • Broadened the DistributeRx platform to 239 products, signed its first third-party partner, with seven new manufacturer agreements in negotiation • Active management of the product and channel mix to strengthen overall offering towards branded products Dermatology • FDA removal of “Black Box” warning for HRTs1 in management of menopause: BIJUVA® removal in February 2026 • Targeted investment in sales, marketing and patient-access initiatives to support script retention and market share • Sales force optimisation completed: menopause and contraception specialist reps in main metro areas • Advanced FDA-required post-marketing studies across the women's health portfolio (ANNOVERA®, IMVEXXY®), strengthening the clinical evidence base • Improved coverage and access Women’s Health • Inaugurated the $18m Salisbury facility upgrade, recognised in export and business awards • Pharmaceutical Benefits Scheme (PBS) approval for NEXTSTELLIS® in Australia – delivered strong Rx growth (+127% on pcp; July 2026 up 23% on June 2026) • Expanded KADIAN® distribution in Canada • Advancing manufacturing and out-licensing partnerships across Asian territories • Delivered in full on time (DIFOT) of 97.4% at 30 June 2026 versus 96.5% at FY25 International 1. Hormone Replacement Therapies (HRT) include IMVEXXY® and BIJUVA® 13 FY26 Segment Financial Highlights • Revenue US$94.1m(-6% pcp) | $138.7m (-10% pcp) • Direct Opex $44.2 million (+4% versus pcp) • Gross Profit $88.7 million (+7% versus pcp) • Gross Margin 63.9% (+19% versus pcp) • Direct Contribution $44.5 million (+11% pcp) Dermatology • Revenue $US118.2m (+2% pcp) | $174.3m (-2% pcp) o NEXTSTELLIS®: +15% Demand Cycles1, +6% US$45.2m o BIJUVA®: +26% TRx2, +20% US$15.0m o IMVEXXY®: +6% TRx, +8% US$29.3m o ANNOVERA®: +2% TRx, -13% US$25.7m • Direct Opex3 $80.1 million (-1% versus pcp) • Gross Profit $138.0 million (-3% versus pcp) • Gross Margin 79.2% (-1% versus pcp) • Direct Contribution $57.9 million (-7% pcp) Women’s Health • Revenue $70.7 million (-7% versus pcp) • Direct Opex $16.7 million (+18% versus pcp) • Gross Profit $21.3 million (+0% versus pcp) • Gross Margin 30.2% (+6% versus pcp) • Direct Contribution $4.6 million (-38% pcp) International 1. Demand Cycles: calculated as IQVIA reported TRx (converted to units/cycles) plus non-reporting pharmacies (including Mayne Pharma’s own distribution channel). TRx converted to units by taking number of pills in the TRx divided by 28 (number of NEXTSTELLIS® pills included in 1 month of therapy). NEXTSTELLIS® prescriptions can be prescribed in 1-month and 3-month increments. On average 1 TRx equals 2.0 units/cycles. 2. TRx – total prescriptions. The data includes IQVIA data, plus prescription volume through non-reporting pharmacies (including Mayne Pharma’s own distribution channel). 3. Direct opex includes lease depreciation, which is largely related to motor vehicles of salesforce. Women’s Health 15 The Rise of Menopause Global footprint Key Drivers 107 137 169 177 168 183 180 80 100 120 140 160 180 200 2HFY23 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 2HFY26 38 45 53 61 67 77 84 - 10 20 30 40 50 60 70 80 90 2HFY23 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 2HFY26 FY26 • Regulatory de-risking of the category: FDA announced black boxed-warning removal for certain hormone replacement therapies (HRTs) in Nov 2025 • Demographic tailwind: A large, sustained cohort is moving into peri- and post- menopause representing 75m women now in the United States (+1.3m annually) – significantly underpenetrated relative to other markets • Celebrity-led destigmatisation: converting awareness into clinical demand • Expanding payer coverage: lowering the affordability barrier with US States actively seeking to improve access • Large market growth: menopause market is expected to grow from ~US$10B– 15B market in 2026 to ~US$15B–25B in 20301 • Specialist menopause sales force in 2H FY26 given growth potential of category FY26 Penetration of Category1: ~1% FY26 Penetration of Category1: ~2% Total Prescriptions (TRx, ‘000) Total Prescriptions (TRx, ‘000) TRx +6% on pcp Net Sales +8%: US$29.3m TRx +26% on pcp Net Sales +20%: US$15.0m FY26 1. PWC - Unlocking the menopause opportunity: A defining category in women’s health 16 Contraception Global footprint Key Drivers FY26 • Affordable Care Act benefits: payers showing more willingness to provide coverage for open, affordable contraceptive access for all women in the United States • Digital and direct-to-patient access: Increase adoption of telehealth prescribing, online pharmacies and delivery apps continue to broaden and streamline access • NEXTSTELLIS ® new coverage: added 15m additional covered lives in FY26, increasing total covered lives to ~124 million. The expanded access lowered net sales per unit due to incremental rebates, but the impact is more than offset by unlocking significant volume growth, as demonstrated in Q4 • ANNOVERA® returns: persistent challenges with returns driving net sales lower despite single digit TRx growth; focus on channel strategy optimisation towards channels with a more favourable returns profile and improved economic value FY26 Penetration of Category1: ~3% FY26 Penetration of Category1: ~2% 1. iQVIA data as at 30 June 2026 45 58 71 89 106 118 125 138 146 152 155 168 171 176 175 194 28.9% 22.4% 25.4% 19.1% 11.3% 5.9% 10.4% 5.8% 4.1% 2.0% 8.4% 1.8% 2.9% -0.6% 10.6% -20.0% 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 160.0 180.0 200.0 12 12 14 14 14 14 14 - 2 4 6 8 10 12 14 2HFY23 1HFY24 2HFY24 1HFY25 2HFY25 1HFY26 2HFY26 TRx +2% on pcp Net Sales -13%: US$25.7m Total Prescriptions (TRx, ‘000) 7.1 7.1 13.8 16.3 22.4 20.1 23.4 21.8 -2.0 3.0 8.0 13.0 18.0 23.0 28.0 Net Sales (US$m) & Growth (%) FY26 Cycles +15% on pcp Net Sales +6%: US$45.2m Demand cycles (‘000) and Sequential Growth (%) 95% 123% 63% 9% 131% 23% 4% 567% Dermatology and DistributeRx 18 Dermatology portfolio mix shift drives margins & contribution growth FY25 Revenue by Category – TOTAL $154.1 million FY26 Revenue by Category – TOTAL $138.7 million Total Revenue Growth: -10% $80.6, 58% $58.1, 42% Branded All Other $83.1, 54% $71.0, 46% Branded All Other 82.8 88.7 54.0% 64.0% 48.0% 50.0% 52.0% 54.0% 56.0% 58.0% 60.0% 62.0% 64.0% 66.0% 79 80 81 82 83 84 85 86 87 88 89 90 FY25 FY26 Gross Profit (A$m) Margin (%) Gross Margin Growth +1018 bps Gross Profit Growth +7% Contribution Growth +11% 19 Dermatology Products Global footprint A portfolio of branded and generics Dermatology Last Patent Expiry 20351 2030 2039 2034 2041 2041 1. RHOFADE® generic launch in July 2026 Branded Portfolio 25 Generics, Authorised Generics Products 31 Total Mayne Pharma Dermatology Products 6 Branded Products 20 Mayne Pharma Disintermediation DistributeRx is Mayne Pharma's direct-to-patient distribution platform with Adelaide Apothecary serving as Mayne Pharma’s licensed pharmacy arm driving cash pay fulfilment of patient prescriptions as part of the Company’s overall disintermediation strategy. DistributeRx launched operations in March 2026. Total Investment at launch US$0.5m Disintermediation: Involves removing the intermediaries (wholesalers or others) between the manufacturer (Mayne Pharma) and the patient 60% Non-Wholesale volumes in FY261 1. As a % percentage of total US Women’s Health and Dermatology product volumes Unfilled Prescriptions High copays and complex prior authorisations cause patients to abandon prescriptions at the pharmacy counter Lost Profit Margin Rebates, Direct and Indirect Remuneration (DIR) fees, and intermediary margins erode manufacturer profitability across the distribution chain Formulary Exclusions PBM restrictions limit formulary access, reducing branded product availability and patient choice Expanding Cash Market Patients increasingly bypass insurance, seeking lower-cost alternatives outside traditional channels Pharmacy Losses DIR clawbacks and below-cost reimbursement drive negative margins on branded dispensing The complexity of the US pharmacy distribution system creates barriers that impact manufacturers, pharmacies, and patients Cycle of inefficiency and waste 21 DistributeRx partners with manufacturers, providers, and pharmacies to improve patient access and offer predictable prices PRESCRIPTION ACCESS MADE SIMPLE 1. Precedence Research 2. From DistributeRx dermatology product range only • ePharmacy size ~US$252 billion by 2030 (CAGR 17%)1 driven by rising consumer adoption of digital pharmacy and home delivery • Initial DistributeRx launch exceeded expectations, delivering very strong growth in March 2026 versus forecast, prior month and pcp • Strong demand profile: May 2026 announced major expansion of Adelaide Apothecary (MYX cash pay pharmacy) in Lexington, KY • Up to 2.5m Rx per annum capacity, US$4m CAPEX across two phases for equipment and automation capability +87% Q4 FY26 Rx growth versus the pcp ~25,000 Total Rx Q4 FY262 ~5,000 New prescribers added since launch 22 Global footprint 100% Mayne Pharma owned subsidiary with a portfolio of branded and generics, both Mayne Pharma owned and Via Third Parties 1. As at 30 July 2026 2. Formal contracts with third party manufacturers in negotiation or recently signed (Resilia Pharma. ASX release 1 June 2026) 208 Other Non-Mayne Products sold via DistributeRx Channel1 31 14 + Additional Pipeline Products2 1 Contracted (1 Manufacturer); 13 in Pipeline (7 New Manufacturers) 239 Total Products Mayne Pharma Dermatology Products1 International 24 NEXTSTELLIS® in Australia 127K / 127% Total Demand Cycles FY26 / pcp growth 188% Cycle Growth Since PBS Approval • Officially added to the Pharmaceutical Benefits Scheme (PBS) on 1 October 2025 (Q2 FY26) • Australian women now have better access to affordable contraceptive options with the PBS listing of NEXTSTELLIS® • Around 1.7 million Australian women of reproductive age use some form of contraception every year1 • In 2024, around 520,000 patients accessed a comparable oral contraception1 • Mayne Pharma has invested in sales and marketing activities including education events to women’s health groups following PBS approval, which has generated solid growth in prescription volumes 1. health.gov.au 8 10 11 12 12 15 14 15 17 27 34 49 5.00 15.00 25.00 35.00 45.00 55.00 PBS approval 1 Oct Australian Demand cycles (‘000) 25 Future Growth Drivers Women’s Health Dermatology • Drive market penetration – increase low single digit market share + solid market growth • Portfolio economics – long-dated patent life to protect value, support pricing power, and sustain investment. Develop new therapeutic applications of existing portfolio products • Commercial execution – upgraded marketing, optimised field-force effectiveness, tighter targeting of high-value prescribers • Improving access – payer contracting and patient access programs to reduce pharmacy friction and drive higher fill rates International • Scale disintermediation – specialty pharmacy ecosystem to reduce friction and lift direct contribution: DistributeRx • Expand portfolio – capital-efficient BD and targeted acquisitions of new FDA-approved brands to broaden addressable segments • Expand DistributeRx – expand manufacturing partnerships and move into additional therapeutic areas beyond dermatology where coverage is limited • Margin focus – through product mix and channel shift towards higher-value brands and more favourable channel economics • Salisbury capacity – post-upgrade enabling higher output, better service levels, and improved DIFOT to support export growth • NEXTSTELLIS® PBS – listing tailwind driving Australian Rx growth as affordability and access improves • Operating leverage – unlock value from significant infrastructure investment and improved facility utilisation • Expanded partnerships – international supply agreements to grow exports and increase third-party volume through the network 26 FY27 focus and outlook • Women’s Health: accelerate portfolio growth through a focused salesforce, refreshed marketing and improved prescriber access, underpinned by the macro tailwind from the removal of the HRT Black Box warning of the menopause category, in particular for BIJUVA® • Dermatology/DistributeRx: continue to expand the DistributeRx platform on expectation of some loss of insurance coverage for TWYNEO® and generic entry into the RHOFADE® market. Strong opportunity to scale DistributeRx platform across additional products and therapeutic areas while leveraging Mayne Pharma’s established infrastructure • International: build on NEXTSTELLIS® growth following PBS listing, and leverage the Salisbury investment to deliver export growth and contract manufacturing revenues • Corporate: continue to evaluate capital-efficient, synergistic acquisitions that can leverage our existing Women’s Health and Dermatology/DistributeRx ecosystems, alongside disciplined capital management 27 You deserve tomorrow. Q&A For further information contact: Dr Tom Duthy Investor Relations +61 402 493 727 ir@maynepharma.com Click here to view this Presentation on Investor Hub This presentation has been approved for release by the Board of Directors of Mayne Pharma Appendix 29 International Dermatology A diversified portfolio of branded specialty and generic dermatology medicines including recently acquired products. Strategy to drive access and lower patient acquisition costs across rosacea, acne, psoriasis and atopic dermatitis. Strong focus on channel Disintermediation. Launch of DistributeRx in March 2026. Share price (ASX:MYX) $3.26 GICS Industry Group Code (Pharmaceuticals) 35202010 Shares on Issue 81.2 million Market Capitalisation $264.7 million FY26 Sales $383.7 million FY26 Underlying EBITDA $34.2 million Cash & Marketable Securities (30 June 2026) $80.0 million Top 20 Shareholders 60.4% Substantial Shareholders Funicular Funds LP (9.9%) Mr Bruce Mathieson (6.5%) Rubric Capital Management LP (5.4%) Trium Capital LLP (5.0%) Analyst Coverage Madeleine Williams: Canaccord Genuity Andrew Goodsall: MST Marquee Snapshot Corporate Summary1,2 1. Share price data, Top 20 shareholders as at 20 August 2026 2. Financial data per Mayne Pharma FY26 results • Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel pharmaceuticals, offering patients better, safe and more accessible medicines • Mayne Pharma has a 40-year track record of innovation and success in developing new oral drug delivery systems. These technologies have been successfully commercialised in numerous products that continue to be marketed around the world Our Focus Segments Women’s Health A specialty branded portfolio with significant patent coverage focused on improving access and adherence in contraception and menopause care through targeted prescriber engagement and patient support. US Focus. Australian-based manufacturer (Salisbury, South Australia) with sales of branded and generic pharmaceutical products to customers and partners globally (ex-US) and the provision of contract development and manufacturing services to third party customers. Improving patient access to life-enhancing medications 30 Segment Performance 1. Gross Profit includes depreciation, which is included in COGS (refer to “cost of sales” depreciation amount in Note 4 of the financial statements). 2. Direct opex includes lease depreciation, which is largely related to motor vehicles of salesforce (refer to “marketing and distribution expenses” depreciation amount in Note 4 of the financial statements). Reported results (A$million) 1HFY26 2HFY26 FY25 FY26 Change vs FY25 1HFY26 2HFY26 FY25 FY26 Change vs FY25 Revenue Gross profit1 Women's Health 96.5 77.8 178.4 174.3 -2% Women's Health 76.2 61.8 142.9 138.0 -3% Dermatology 78.6 60.1 154.1 138.7 -10% Dermatology 51.1 37.6 82.8 88.7 7% International 36.9 33.8 75.6 70.7 -7% International 11.3 10.0 21.5 21.3 -1% Total 212.1 171.7 408.1 383.7 -6% Total 138.6 109.5 247.3 248.1 0% Operating expenses2 Direct Contribution Women's Health 40.0 40.1 80.9 80.1 -1% Women's Health 36.2 21.7 62.0 57.9 -7% Dermatology 21.3 22.9 42.6 44.2 4% Dermatology 29.8 14.7 40.2 44.5 11% International 9.2 7.5 14.1 16.7 18% International 2.1 2.5 7.4 4.6 -38% Total 70.5 70.5 137.6 141.0 2% Total 68.1 39.0 109.7 107.1 -2% 31 Women’s Health: portfolio performance (USD and AUD) * Direct contribution calculated as gross profit less direct opex – includes depreciation of motor vehicle leases in direct opex ** Cash contribution calculated as direct contribution plus add-back for depreciation and less proportional earn-out liability : portion of earnout liability related to revenues for the period independent of timing / capitalised amount Women's Health in US$'000 1HFY26 2HFY26 FY25 FY26 Total Revenue 63,246 54,961 115,510 118,207 Total Gross Profit 49,946 43,690 92,545 93,636 Total Gross Profit % of Revenue 79% 0% 80% 79% Direct OPEX (26,198) (28,154) (52,389) (54,352) Direct Contribution* 23,748 15,536 40,155 39,284 Depreciation Add-Back 519 458 1,118 977 Earn-out liability (4,342) (3,633) (8,197) (7,975) "Cash" Contribution** 19,926 12,360 33,076 32,286 Women's Health in A$'000 1HFY26 2HFY26 FY25 FY26 Reported Revenue 96,529 77,741 178,367 174,270 Reported Gross Profit 76,230 61,815 142,904 138,045 Total Gross Profit % of Revenue 79% 0% 80% 79% Direct OPEX (39,984) (40,145) (80,898) (80,129) Direct Contribution* 36,246 21,670 62,006 57,916 Depreciation Add-Back 792 648 1,726 1,440 Earn-out liability (6,626) (5,131) (12,657) (11,757) "Cash" Contribution** 30,411 17,188 51,075 47,599 32 Dermatology: Improvements in product mix delivers strong contribution (USD & AUD) * Direct contribution calculated as gross margin less direct opex – includes depreciation and allocation of shared functions & overhead within COGS and depreciation of motor vehicle leases in direct opex ** Cash contribution calculated as direct contribution plus add-back for depreciation and less proportional earn-out liability: portion of earnout liability related to revenues for the period independent of timing / capitalised amount Dermatology in US$'000 1HFY26 2HFY26 FY25 FY26 Total Revenue 51,510 42,569 99,786 94,079 Total Gross Profit 33,468 26,689 53,645 60,157 Total Gross Profit % of Revenue 65% -1% 54% 64% Direct OPEX (13,956) (16,013) (27,582) (29,969) Direct Contribution* 19,512 10,676 26,063 30,188 Depreciation Add-Back 469 414 954 883 Earn-out liability (551) 0 (688) (551) "Cash" Contribution** 19,430 11,090 26,328 30,520 Dermatology in A$'000 1HFY26 2HFY26 FY25 FY26 Reported Revenue 78,618 60,080 154,085 138,698 Reported Gross Profit 51,081 37,607 82,837 88,688 Total Gross Profit % of Revenue 65% -1% 54% 64% Direct OPEX (21,300) (22,883) (42,592) (44,183) Direct Contribution* 29,781 14,724 40,245 44,505 Depreciation Add-Back 715 586 1,473 1,301 Earn-out liability (841) 29 (1,063) (812) "Cash" Contribution** 29,655 15,339 40,655 44,994 33 International: strategic and operational levers building momentum (AUD) * Direct contribution calculated as gross margin less direct opex – includes depreciation and allocation of shared functions & overhead. Corresponds to 4D segment note ** Cash contribution calculated as direct contribution plus add-back for depreciation and less proportional earn-out liability: portion of earnout liability related to revenues for the period independent of timing / capitalised amount International in A$'000 1HFY26 2HFY26 FY25 FY26 Reported Revenue 36,923 33,785 75,643 70,708 Reported Gross Profit 11,268 10,067 21,533 21,335 Total Gross Profit % of R