Announcement PDF 23 February 2026 Manager, Company Announcements ASX Limited Level 4 20 Bridge Street SYDNEY NSW 2000 Via E-Lodgement Dear Sir/Madam Mayne Pharma Group Limited Interim Results Please find attached the Appendix 4D Half Year Report, Directors’ Report, the Financial Report and Auditor’s Independent Review Report relating to the results for the half-year ended 31 December 2025. This information should be read in conjunction with Mayne Pharma Group Limited’s 2025 Annual Report. This announcement comprises the information required by ASX Listing Rule 4.2A and the statement required by Rule 4.2C.2. Yours faithfully, Mayne Pharma Group Limited Laura Loftus Company Secretary Appendix 4D Interim Results Half Year Report Page 2 RESULTS FOR ANNOUNCEMENT TO THE MARKET APPENDIX 4D – HALF YEAR REPORT % Change Dec 2025 $’000 Dec 2024 $’000 Revenue from ordinary activities (0.5%) 212,070 213,054 Profit / (loss) from continuing operations before income tax expense 5,538 (14,719) Profit / (loss) from continuing operations after income tax expense (12,104) (19,970) Profit / (loss) from discontinued activities after income tax (2,835) (5,575) Profit / (loss) after income tax (14,939) (25,545) Attributable to: Equity holders of the parent (14,939) (25,545) Other comprehensive income after income tax expense (3,717) 15,604 Total comprehensive income after income tax expense (18,656) (9,941) Attributable to: Equity holders of the parent (18,656) (9,941) Net tangible assets per ordinary share (1) ($1.87) ($1.69) 2025 $ 2024 $ Basic earnings (loss) per share continuing operations (0.15) (0.25) Diluted earnings (loss) per share continuing operations (0.15) (0.25) Final dividend in respect of the financial year ended 30 June per share Nil Nil Interim dividend in respect of the period ended 31 December per share Nil Nil (1) Net tangible assets include Right-of-use lease assets Refer to the Directors’ Report and the accompanying ASX announcement dated 23 February 2026 for a brief commentary on the results. Half Year Financial Report FOR THE HALF YEAR ENDED 31 DECEMBER 2025 (PRIOR CORRESPONDING PERIOD: HALF YEAR ENDED 31 DECEMBER 2024)3 Appendix 4D Interim Results Half Year Report Page 4 CONTENTS CORPORATE INFORMATION...................................................................................................................................................... 5 DIRECTORS’ REPORT.................................................................................................................................................................. 6 AUDITOR’S INDEPENDENCE DECLARATION............................................................................................................................. 12 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME ................................................... 13 CONSOLIDATED STATEMENT OF FINANCIAL POSITION........................................................................................................... 15 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY............................................................................................................ 16 CONSOLIDATED STATEMENT OF CASH FLOW ......................................................................................................................... 17 NOTES TO THE FINANCIAL STATEMENTS................................................................................................................................. 18 DIRECTORS’ DECLARATION...................................................................................................................................................... 40 AUDITOR’S INDEPENDENT REVIEW REPORT ........................................................................................................................... 41 Appendix 4D Interim Results Half Year Report Page 5 CORPORATE INFORMATION DIRECTORS: Prof Bruce Robinson, AC (Chair) Mr Patrick Blake Ms Ann Custin Mrs Anne Lockwood Dr Kathryn MacFarlane Mr David Petrie COMPANY SECRETARY: Ms Laura Loftus REGISTERED OFFICE 1538 Main North Road Salisbury South South Australia 5106 PRINCIPAL PLACES OF 1538 Main North Road BUSINESS: Salisbury South South Australia 5106 3301 Benson Drive Suite 401 Raleigh North Carolina 27609 USA AUDITORS: BDO Audit Pty Ltd Collins Place Level 25, 35 Collins Street Melbourne VIC 3000 SOLICITORS: Minter Ellison Lawyers Collins Arch Level 20, 447 Collins Street Melbourne VIC 3000 SHARE REGISTRY: Computershare Investor Services Pty Ltd Yarra Falls 452 Johnston Street Abbotsford VIC 3067 Telephone: (03) 9415 4184 Facsimile: (03) 9473 2500 BANKER: Westpac 150 Collins Street Melbourne VIC 3000 ABN: 76 115 832 963 DOMICILE AND COUNTRY Australia OF INCORPORATION: LEGAL FORM OF ENTITY: Public company listed on the Australian Securities Exchange (MYX) Appendix 4D Interim Results Half Year Report Page 6 DIRECTORS’ REPORT The Directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the 'Consolidated Entity') consisting of Mayne Pharma Group Limited (referred to hereafter as the 'Company' or 'parent entity') and the entities it controlled at the end of, or during, the half-year ended 31 December 2025. DIRECTORS The names of the Company’s Directors in office during the half-year and until the date of this report are set out below. Directors were in office for this entire period unless otherwise noted. Prof Bruce Robinson, AC (Chair effective from 14 January 2026) Mr Patrick Blake Ms Ann Custin Mrs Anne Lockwood Dr Kathryn MacFarlane Mr David Petrie Mr Frank Condella (retired from the Board and Chair role effective 14 January 2026) Mr Shawn Patrick O’Brien (stepped down as CEO and Managing Director effective 20 February 2026 (US time)). Mrs Anne Lockwood and Mr Patrick Blake will step down from the Board following the release of these results. REVIEW OF RESULTS The Consolidated Entity reported revenue for the half year of $212.1m. This compares to $213.1m for the prior corresponding period (pcp). The Consolidated Entity’s net loss from continuing operations attributable to members of the Company for the half-year ended 31 December 2025 was a net loss of $12.1m (half-year ended 31 December 2024: net loss $20.0m). Set out below is a summary of the financial performance attributable to Mayne Pharma shareholders for the six months ended 31 December 2025. This summary includes non-IFRS financial information that is stated excluding certain non- operating income and expense items. The results are set out this way as the Directors consider them to be a meaningful comparison from period to period. Earnings before interest tax, impairment, depreciation and amortisation (EBITDA) is used as a key measure of the earnings considered by management in operating the business and assessing performance. SALES AND PROFIT DEC 2025 $M DEC 2024 $M CHANGE ON PCP $M Reported Revenue from continuing operations 212.1 213.1 (1.0) Reported Gross profit from continuing operations 138.6 130.9 7.7 Reported Gross profit % 65.3% 61.4% Adjusted EBITDA 28.6 31.0 (2.4) Adjustments1 34.4 (4.9) 39.3 Reported EBITDA from continuing operations 63.0 26.1 36.9 Depreciation / Amortisation (34.0) (32.7) (1.3) Reported Profit / (Loss) Before net finance expenses and Tax from continuing operations 29.0 (6.6) 35.6 Net interest (1.1) 0.2 (1.3) Foreign exchanges gains/(losses) financing activities (2.9) 9.3 (12.2) Earn-out & deferred consideration liabilities discount unwind (19.5) (17.6) (1.9) Reported Profit / (Loss) Before Tax from continuing operations 5.5 (14.7) 20.3 Income tax credit / (expense) (17.6) (5.3) (12.4) Reported Net Profit / (Loss) After Tax attributable to Mayne Pharma shareholders from continuing operations (12.1) (20.0) 7.9 1. Current year adjustments are included in the table below. Appendix 4D Interim Results Half Year Report Page 7 The reconciliation of reported results and underlying results from continuing operations is as follows: SALES AND PROFIT REPORTED ATTRIBUTABLE TO MEMBERS DEC 2025 $M EARN-OUT REASSESSMENT (1) $M RESTRUCTURING (2) $M LITIGATION(3) $M DILIGENCE & BUSINESS DEVELPOMENT EXP(4) $M WH COGS (5) $M MARK TO MARKET REASSESSMENT DERIVATIVE (6) $M CONTINUING OPERATIONS UNDERLYING DEC 2025 $M Revenue 212.1 212.1 Gross profit 138.6 1.4 140.0 Gross profit % 65.3% 66.0% EBITDA 63.0 (54.5) 2.3 1.9 21.3 1.4 (6.8) 28.6 Depreciation / Amortisation (34.0) (34.0) PBIT 29.0 (54.5) 2.3 1.9 21.3 1.4 (6.8) (5.4) Net finance costs (23.5) (23.5) PBT 5.5 (54.5) 2.3 1.9 21.3 1.4 (6.8) (28.9) (1) Earn-out and deferred consideration liabilities reassessment. (2) Restructuring costs includes employee retention awards post the termination of the scheme with Cosette. (3) Drug pricing and health care investigations, US Department of Justice and related litigation costs. (4) Diligence and transaction costs including litigation costs related to the SID entered into with Cosette. The Supreme Court of New South Wales made an adverse costs order against Cosette following its decision in October 2025 requiring Cosette to pay Mayne Pharma’s costs of the proceedings as agreed or assessed. Mayne Pharma is taking steps to enforce the costs order against Cosette, however the quantum of recovery has not yet been agreed or assessed or otherwise determined and as such is not recognised in this report. (5) WH COGS – Mayne contributions to supplier to refine and further develop production process (6) Mark to market / fair value reassessment of the conversion derivative relating to convertible notes. The non IFRS financial information is unaudited. A more detailed analysis of the operating performance is included in the ASX Announcement and Results Presentation dated 23 February 2026. REVIEW OF OPERATIONS The Group continues to develop and invest in existing assets as well as expand its disintermediation strategy to enhance growth opportunities. Work on the Salisbury modernisation project, partly funded by a federal government grant, was completed during the period. The new encapsulator entered commercial production at the end of FY24, enabling the launch of KADIAN® 200mg in Canada. Installations include a bottling line and a high-speed blister packing line with serialisation capabilities. Official inauguration of the upgrade occurred in December 2025. Pharmaceutical Benefits Scheme (PBS) approval for NEXTSTELLIS® in Australia was received in September 2025. TWYNEO® and EPSOLAY® were launched in the United States during the half. The Group recorded revenue of $212.1m, down 0.5% on the prior corresponding period (pcp) and gross profit was $138.6m, up 6% on pcp. Gross profit reported as a percentage of sales revenue was 65.3% compared with 61.4% in the pcp. The Consolidated Entity operates in three operating segments being International, Women’s Health (formerly BPD) and Dermatology (formerly PPD). During a prior period, the Consolidated Entity sold the MCS segment and has therefore included MCS in discontinued operations (refer Note 5). The Consolidated Entity also sold the Retail Generics business effective 7 April 2023 which has also been disclosed as part of discontinued operations (refer Note 5). The segment note in the financial statements (Note 2) shows the sales, gross margin (GM), direct operating expenses (opex) and the direct contribution (being the GM less direct opex) for each segment on a continuing operations basis. Appendix 4D Interim Results Half Year Report Page 8 Women’s Health The Women’s Health Division distributes branded Women’s Health products in the US. This division includes NEXTSTELLIS®, ANNOVERA®, BIJUVA® and IMVEXXY®. Women’s Health revenue increased 2% to $96.5m ($94.3m pcp) and gross profit decreased 1% to $76.2m ($76.9m pcp) for the period. Excluding the Women’s Health COGS adjustment, Gross margin increased by 1%. Direct contribution decreased 8% to $36.2m ($39.3m pcp) due to increased investment in promotional expenses and Mayne’s contribution to a supplier. In USD terms, Women’s Health revenue increased 1% to US$63.3m (US$62.3m pcp) and gross profit was US$49.9m (US$50.8m pcp) for the period. Direct contribution decreased 5% to US$23.7m (US$26.0m pcp). Key products driving revenue growth compared to the pcp were NEXTSTELLIS® (increase 2%) and IMVEXXY® (increase 2%). BIJUVA® revenue increased 23% with ANNOVERA® decreasing 9% compared to the pcp. Dermatology The Dermatology Division distributes established dermatology products in the US. Revenue decreased 3% to $78.6m ($81.4m pcp), gross profit increased 17% to $51.1m ($43.4m pcp) and direct contribution increased 35% to $29.8m ($22.1m pcp) for the period. In USD terms, revenue decreased 4% to US$51.5m (US$53.8m pcp), gross profit increased 17% to US$33.6m (US$28.7m pcp) and direct contribution increased 35% to a US$19.7m (US$14.6m pcp) for the period. Dermatology margin and contribution increases were driven by a change in the mix of products and by some effects of the Company’s channel management (disintermediation). TWYNEO® and EPSOLAY® were launched during the period. International International’s revenue and gross profit are derived from the Australian manufacture and sale of branded and generic pharmaceutical products globally and the provision of contract development and manufacturing services to third party customers. International revenue decreased 1% to $36.9m ($37.4m pcp), gross profit increased by 6% to $11.3m ($10.6m pcp) and direct contribution decreased 44% to $2.1m ($3.6m pcp) for the period. NEXTSTELLIS® was approved for the Pharmaceutical Benefits Scheme (PBS) in Australia with effect from 1 October 2025 with additional investment in promotional activities occurring post PBS approval which had a negative impact on International’s direct contribution. The Salisbury facility capital works project was completed during the period with the official inauguration occurring in December 2025. Expenses Net research, development, medical and regulatory affairs expense (total costs less costs capitalised) was $12.7m, an increase in expense of $2.8m on the pcp. The increase was due to post approval studies for ANNOVERA® and IMVEXXY®. Marketing and distribution expenses were $69.5m, a net increase of $3.5m on the pcp. The increase includes investment in additional promotional expenditure and additional sales team members for both US and Australia. Administration and other expenses were $83.5m, an increase of $19.6m on the pcp. The main reason for the increase was the litigation costs relating to the Cosette Scheme. This category includes non-cash and / or non-operating items such as: • Amortisation of intangible assets $30.0m ($28.5m pcp); • Reassessment of derivative fair value $6.8m credit ($0.2m credit pcp); • Share based payments expense $1.1m ($2.1m pcp); • Foreign exchange losses $0.2m ($1.0m fx loss pcp); • Restructuring expenses $2.3m ($1.2m pcp); • Diligence and transaction costs including litigation costs related to the SID entered into with Cosette. $21.3m ($2.5m pcp); The Supreme Court of New South Wales made an adverse costs order against Cosette following its decision in October Appendix 4D Interim Results Half Year Report Page 9 2025 requiring Cosette to pay Mayne Pharma’s costs of the proceedings as agreed or assessed. Mayne Pharma is taking steps to enforce the costs order against Cosette, however the quantum of recovery has not yet been agreed or assessed or otherwise determined and as such is not recognised in this report; and • Litigation costs $1.9m ($2.4m pcp). Amortisation expense includes $9.7m (pcp $8.3m) for NEXTSTELLIS® and $14.2m (pcp $14.7m) for the assets acquired from TXMD. The balance of amortisation relates to Dermatology and International intangibles. Excluding the non-cash and / or non-operating items, administration and other expenses increased by $5.9m to $32.2m. The main cause of the increase was the Paragraph iv litigation relating to IMVEXXY®. There were no asset impairments in the current period or the pcp. Finance expenses were $25.0m, an increase of $14.2m on the pcp. Included in net finance income/expenses are financing related foreign exchange losses of $2.9m (pcp $9.3m gains). Discount unwind on earnout and deferred consideration liabilities amounted to $19.5m (pcp $17.6m) in the current period. The tax expense of $16.8m comprised: • Current period income tax expense for the six months to 31 December 2025 of $3.6m; • Prior year under provision of $0.7m; and • Expense of $12.5m relating to the movement in net tax deferred tax assets and liabilities. REVIEW OF STATEMENT OF FINANCIAL POSITION Cash Cash increased by $7.5m compared to 30 June 2025. Amounts invested in marketable securities (December 2025 $0.1m, June 2025 $40.6m) are not included in cash. Marketable securities are deposits in a money market fund with underlying investments in short term US government debt and repurchase obligations. Marketable securities are included in “Other Financial Assets” in the financial statements. Refer to Review of Cash Flows for further commentary. Inventory, receivables and trade payables The Company had a net cash investment in working capital of $5.3m during the period. Working capital movements included reduction of inventory ($3.5m), increases in trade receivables ($15.4m), other current assets ($14.5m) partially offset by an increase in trade and other payables ($20.9m). The balance sheet and statement of cashflows include values relating to both continuing operations and discontinued operations. The balance sheet values are also impacted, compared to the pcp, by currency translation with the December 2025 AUD / USD exchange rate of 0.6701 compared to the June 2025 exchange rate of 0.6529. Intangible assets Intangible assets decreased by $42.7m compared to the balance at 30 June 2025. The movement comprised of: • An increase of $0.2m for asset additions; • A decrease of $30.0m for amortisation; and • A decrease of $12.9m due to foreign currency translation with the AUD / USD exchange rate strengthening from 0.6529 at 30 June 2025 to 0.6701 at 31 December 2025. Most intangible assets are held in the US. Property, plant & equipment Property, plant and equipment decreased by $1.0m from the balance at 30 June 2025. The movement comprised of: • An increase of $1.3m for additions which included capital works programs and general site maintenance capital expenditure; and • A decrease of $2.3m for depreciation. Appendix 4D Interim Results Half Year Report Page 10 Interest bearing liabilities. Interest bearing liabilities includes lease liabilities. Lease liabilities were $4.4m at reporting date. Mayne Pharma issued convertible notes in December 2022 with total cash received of US$27.95m. The convertible notes liability has been split into two components – the loan liability ($37.1m included in interest bearing liabilities at reporting date) and the conversion option (derivative) component (initially recognised at $9.7m and subsequently restated at fair value each reporting period – which is included in the balance sheet as “Other financial liabilities”). Other financial liabilities Other financial liabilities decreased by $71.4m from 30 June 2025 as a result of: • An increase of $19.5m due to the unwinding of the discount for the various earn-out liabilities and deferred consideration liabilities; • A decrease of $6.8m due to fair value restatement of the option derivative relating to convertible notes; • A decrease of $54.5m due to re-assessments of various earn-out and deferred consideration liabilities; • A decrease of $20.7m due to payments made for earn-outs and deferred settlements; and • A decrease relating to foreign exchange and foreign currency translation of $9.0m. REVIEW OF CASH FLOWS Cash at 31 December 2025 was $67.4m, representing an increase of $7.6m from 30 June 2025. Amounts invested in marketable securities (December 2025 $0.1m, June 2025 $40.6m) are not included in cash. Marketable securities are deposits in a money market fund with underlying investments in short term US government debt and repurchase obligations. Marketable securities are included in “Other Financial Assets” in the financial statements. A summary of operating cash flows is as follows: Dec 2025 $M Dec 2024 $M Operating cash flow before working capital movements 17.1 22.1 Working capital (investment) / release (5.3) 1.1 Net Operating cash flows before Cosette scheme and litigation costs and Class Action settlement 11.8 23.2 Cosette scheme and litigation costs (20.7) (2.9) Class Action settlement (net of insurance) - (33.3) Net Operating cash flows (8.9) (13.0) Less estimated cashflows relating to discontinued operations outflows / (inflows) 5.1 5.6 Estimated net operating cashflows from continuing operations (3.8) (7.4) Operating cash flow was impacted by the Cosette Scheme litigation and discontinued operations including payments for certain operating expenses and payments for gross-to-net liabilities for the divested Retail Generics business. Excluding these items operating cashflow from continuing operations was $16.9m. In relation to Cosette litigation costs, the Supreme Court of New South Wales made an adverse costs order against Cosette following its decision in October 2025 requiring Cosette to pay Mayne Pharma’s costs of the proceedings as agreed or assessed. Mayne Pharma is taking steps to enforce the costs order against Cosette, however the quantum of recovery has not yet been agreed or assessed or otherwise determined and as such is not recognised in this report. Dec 2025 $M Dec 2024 $M Investing cash flows 18.2 (45.0) Notable cash flows during the period included: • $1.3m payments for net capital expenditure; • $40.4m withdrawal from marketable securities; and • Earn-out and deferred settlement payments totalling $20.9m which included $3.1m paid to Catalent as a result of the MCS sale. Appendix 4D Interim Results Half Year Report Page 11 Dec 2025 $M Dec 2024 $M Financing cash flows (0.9) (0.3) Notable cash flows during the period included: • Net interest receipts $0.8m; and • Lease payments (right-of-use) assets $1.7m. DIVIDEND No dividend was declared or paid for the period ended 31 December 2025. ROUNDING The Company is of a kind referred to in ASIC Legislative Instrument 2016/191 issued by the Australian Securities and Investments Commission, relating to the “rounding off” of amounts in this report and in the financial report. Amounts in this report and in the financial report have been rounded off in accordance with that Legislative Instrument to the nearest thousand dollars or, in certain cases, to the nearest dollar. AUDITOR’S INDEPENDENCE DECLARATION The Auditor’s independence declaration is included on page 12 of the Financial Report. EVENTS SUBSEQUENT TO REPORTING DATE On 15 January 2026, Cosette filed an appeal against Justice Black’s decision in the Supreme Court of New South Wales, Court of Appeal. The appeal has been listed for a 2-day hearing on 2 and 3 June 2026. On 18 February 2026, Mayne Pharma commenced proceedings in the Supreme Court of New South Wales against Cosette Pharmaceuticals, Inc, Cosette Pharmaceuticals Holdings, Inc, Avista Capital Holdings, LP trading as Avista Healthcare Partners (Avista) and David Burgstahler (the Managing Partner and CEO of Avista) seeking substantial damages on behalf of Mayne Pharma shareholders against Cosette for breach of the Scheme Implementation Deed (SID) and against the other defendants for inducing Cosette’s breach of the SID. Mayne Pharma is also seeking substantial damages on its own behalf against the defendants. Mr Shawn Patrick O’Brien stepped down as Chief Executive Officer and Managing Director effective 20 February 2026 (US time) and Mr Aaron Gray (previously Mayne Pharma’s Chief Financial Officer) was appointed Chief Executive Officer as part of Mayne Pharma’s planned leadership transition. Refer Mayne Pharma’s ASX announcement dated 23 February 2026. No other matter or circumstance has arisen since the reporting date which is not otherwise reflected in this report that significantly affected or may significantly affect the operations of the Consolidated Entity. Signed in accordance with a resolution of the Directors. Dated this 23rd day of February 2026. Bruce Robinson, AC Independent Chair Appendix 4D Interim Results Half Year Report Page 12 AUDITOR’S INDEPENDENCE DECLARATION Appendix 4D Interim Results Half Year Report Page 13 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Notes 31 December 2025 $’000 31 December 2024 $’000 Continuing operations Sale of goods 192,862 193,722 Services revenue 16,472 18,495 Royalties revenue 2,736 641 License fees - 196 Revenue 2 212,070 213,054 Cost of sales 2, 3 (73,491) (82,195) Gross profit 138,579 130,859 Interest income 1,522 2,696 Other income 192 1,339 Earn-out and deferred consideration liabilities reassessments 54,509 1,019 Research, development, medical and regulatory affairs expenses (12,713) (9,886) Marketing and distribution expenses (69,487) (65,985) Administrative and other expenses 3 (82,074) (63,944) Finance expenses - other 3 (2,614) (2,482) Foreign exchange (losses) / gains related to financing activities 3 (2,853) 9,302 Finance expenses – discount unwind related to earn-outs & deferred consideration liabilities 3 (19,523) (17,637) Net profit / (loss) before income tax 5,538 (14,719) Income tax credit / (expense) 4 (17,642) (5,251) Net (loss) / profit for the period from continuing operations (12,104) (19,970) Discontinued operations Profit / (loss) after tax for the period from discontinued operations 5 (2,835) (5,575) Net (loss) / profit for the period attributable to equity holders of the Parent (14,939) (25,545) Appendix 4D Interim Results Half Year Report Page 14 CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME (continued) FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Notes 31 December 2025 $’000 31 December 2024 $’000 Other comprehensive income for the period, net of tax Items which may be reclassified to profit/loss Exchange differences on translation (4,661) 18,307 Income tax effect 944 (2,703) Total comprehensive income for the period (18,656) (9,941) Attributable to: Equity holders of the Parent (18,656) (9,941) (18,656) (9,941) Basic earnings per share (18.8) cents (32.3) cents Diluted earnings per share (18.8) cents (32.3) cents Earnings per share from continuing operations: Basic earnings (loss) per share from continuing operations (15.3) cents (25.3) cents Diluted earnings (loss) per share from continuing operations (15.3) cents (25.3) cents This statement should be read in conjunction with the accompanying notes to the financial statements Appendix 4D Interim Results Half Year Report Page 15 CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2025 Notes 31 December 2025 $’000 30 June 2025 $’000 Current assets Cash and cash equivalents 6 67,347 59,839 Trade and other receivables 7 191,449 180,643 Inventories 8 47,496 50,561 Income tax receivable 1,140 1,257 Other financial assets (includes marketable securities) 2,359 42,934 Other current assets 9 31,334 17,558 Total current assets 341,125 352,792 Non-current assets Other non-current assets 9 15,070 15,409 Property, plant and equipment 10 52,072 53,142 Right-of-use assets 5,040 5,727 Deferred tax assets 4 24,129 41,764 Intangible assets 11 503,114 545,771 Total non-current assets 599,425 661,813 Total assets 940,550 1,014,605 Current liabilities Trade and other payables 12 190,569 174,304 Interest-bearing loans and borrowings 13 40,312 38,616 Other financial liabilities 14 15,965 37,657 Provisions 15 10,538 10,434 Total current liabilities 257,384 261,011 Non-current liabilities Interest-bearing loans and borrowings 13 2,153 2,655 Other financial liabilities 14 321,678 371,404 Deferred tax liabilities 4 6,151 8,795 Provisions 15 477 457 Total non-current liabilities 330,459 383,311 Total liabilities 587,843 644,322 Net assets 352,707 370,283 Equity Contributed equity 16 1,229,773 1,225,979 Reserves 178,855 185,286 Accumulated Losses (1,055,921) (1,040,982) Total equity 352,707 370,283 This statement should be read in conjunction with the accompanying notes to the financial statements. Appendix 4D Interim Results Half Year Report Page 16 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE HALF-YEAR ENDED 31 DECEMBER 2025 Contributed Equity Share-Based Payment Reserve Foreign Currency Translation Reserve Other Reserve Accumulated losses Total Equity $’000 $’000 $’000 $’000 $’000 $’000 Balance at 1 July 2025 1,225,979 60,960 124,326 - (1,040,982) 370,283 Profit / (loss) for the period - - - - (14,939) (14,939) Other comprehensive income Foreign exchange translation (net of tax) - - (3,717) - - (3,717) Total comprehensive income - - (3,717) - (14,939) (18,656) Transactions with owners in capacity as owners Taxes paid relating to RSU’s vesting - - - - - Equity contribution re LTI program 3,794 (3,794) - - - - Share-based payments - 1,080 - - - 1,080 Balance at 31 December 2025 1,229,773 58,246 120,609 - (1,055,921) 352,707 Balance at 1 July 2024 1,224,224 58,584 118,526 (3,143) (944,003) 454,188 Profit / (loss) for the period - - - - (25,545) (25,545) Other comprehensive income Foreign exchange translation (net of tax) - - 15,604 - - 15,604 Total comprehensive income - - 15,604 - (25,545) (9,941) Transactions with owners in capacity as owners Taxes paid relating to RSU’s vesting (148) - - - - (148) Equity contribution re LTI program 1,579 (1,579) - - - - Share-based payments - 2,105 - - - 2,105 Balance at 31 December 2024 1,225,655 59,110 134,130 (3,143) (969,548) 446,204 This statement should be read in conjunction with the accompanying notes to the financial statements. Appendix 4D Interim Results Half Year Report Page 17 CONSOLIDATED STATEMENT OF CASH FLOW FOR THE HALF-YEAR ENDED 31 DECEMBER 2