Announcement PDF Annual Report 2023 Addressing the needs of patients What’s inside Overview 3 What we do 4 FY23 Business Highlights 5 Letter from the Chair and the CEO 8 Sustainability Financial Report 10 Directors’ Report 23 Remuneration Report 33 Auditor’s Independence Declaration 35 Consolidated Statement Of Profit Or Loss And Other Comprehensive Income 36 Consolidated Statement Of Financial Position 37 Consolidated Statement Of Cash Flows 38 Consolidated Statement Of Changes In Equity 39 Notes To The Consolidated Financial Statements 79 Directors’ Declaration 80 Independent Auditor’s Report 88 Glossary At Mayne Pharma we are focused on keeping our promises to patients, for better medicines and a better tomorrow. We believe that everyone deserves medicines that are better, safe and more accessible. That’s why our people are determined to provide innovative products and services for our changing world. Learn more at maynepharma.com What we do Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel products, 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. Mayne Pharma has built two leading franchises in the US: dermatology and women’s health, which now drive over 65% of the group’s revenue. Mayne Pharma at a glance $183.6m >65% $317.4m >450 reported revenue, up 17% on FY22 reported net loss after tax >55 of revenue in the US products marketed globally employees globally For further information visit the Group’s website at maynepharma.com. Mayne Pharma Annual Report 2023 3 FY23 business highlights JULY 2022 JANUARY 2023 • Launched NEXTSTELLIS® oral contraceptive in Australia • Launched HALOETTE®, a generic version of NUVARING®, • Launched initiative with GoodRx to increase of awareness in the US of NEXTSTELLIS® oral contraceptive in the US and expand access to birth control AUGUST 2022 • NEXTSTELLIS® oral contraceptive nominated for 2022 Prix Galien USA Award for Best Pharmaceutical Agent • FDA approved HALOETTE®, a generic version of NUVARING® in the US • Announced sale of Metrics Contract Services to Catalent for total cash consideration of US$475 million • Aaron Gray commenced as Chief Financial Officer OCTOBER 2022 • Shawn Patrick O’Brien commenced as Chief Executive Officer • Completed sale of Metrics Contract Services to Catalent • Repaid A$358.7m syndicated debt facility DECEMBER 2022 • Signed transaction agreement with TherapeuticsMD Inc to license three branded women’s health products (ANNOVERA®, IMVEXXY® and BIJUVA®) and a portfolio of prenatal vitamins in the US FEBRUARY 2023 • Launched Diltiazem ER and DORYX® MPC 60 mg in the US • Entered into a license and supply agreement with Galderma for an unbranded authorised generic version of ORACEA® (doxycycline) 40 mg capsules • Announced sale of Mayne Pharma’s US retail generics business (comprising a portfolio of 85 generic products and 4 generic pipeline products) to Dr Reddy’s Laboratories SA for upfront cash consideration of up to US$90 million, up to US$15 million in contingent milestone payments and an amount for working capital MARCH 2023 • Tripartite agreement signed and clinical trial application submitted in China for KAPANOL® / KADIAN® (morphine) APRIL 2023 • Completed sale of Mayne Pharma’s US retail generics business to Dr Reddy’s Laboratories SA MAY 2023 • Extended Australian dermatology portfolio through launch of ACTIKERALL® (fluorouracil and salicylic acid for treatment of actinic keratosis) 4 Mayne Pharma Annual Report 2023 Letter from the Chair and the CEO Dear Fellow Shareholders, The Financial Year 2022 (FY22) annual letter outlined our view that FY23 would be a transitional year, focused on resetting the business for future growth in line with our strategy and driven by our objective to simplify Mayne Pharma’s business. We are pleased to report that during the year we have made significant progress in this transition with several major transactions completed and a tremendous amount of work by the new management team to restructure and reposition our Company for future growth. We acknowledge that this transition has not always gone smoothly, however we are confident that the actions taken were both necessary and prudent to reposition Mayne Pharma for growth after many years of disappointing performance. In last year’s letter, we also outlined our strategy for our US Women’s Health, US Dermatology, and International businesses. For Women’s Health, in addition to driving growth in NEXTSTELLIS® our strategy was to seek out complementary products with strong growth potential that would leverage the commercial infrastructure we had built for NEXTSTELLIS®. We rigorously reviewed the marketplace for available products that we believed would fit our planned strategy. The portfolio of products owned by the US company TherapeuticsMD Inc (NASDAQ:TXMD) was particularly interesting but was only available through an acquisition of the entire company. Our management team conducted extensive due diligence and we concluded that this type of transaction was not in the best interests of our shareholders. Shortly after last year’s AGM, however, we were able to secure a transaction structure for the TXMD products that met our financial criteria and fit our stated strategy. We had to move quickly but we were able to secure ANNOVERA®, IMVEXXY®, BIJUVA® and a portfolio of prenatal vitamins through an exclusive product licensing transaction. Acquiring the commercialisation rights for a strong portfolio of US women’s health products was an important step forward in our strategy to become one of the top branded businesses in the US women’s health market. ANNOVERA®, IMVEXXY® and BIJUVA® are novel products with intellectual property product protection out to at least 2032 and are highly complementary to NEXTSTELLIS®. Importantly, commercialisation of these products will leverage our existing women’s health infrastructure and require only incremental investment specific to these products. The Board was determined to maintain a prudent balance sheet whilst we continued to hold the volatile US Retail Generics business and as we were working to rebase our Dermatology business. Accordingly, the Board determined that the most appropriate funding for this transaction was to secure a convertible debt note and using available cash on the balance sheet. Whilst the integration of these products into Mayne Pharma has faced some challenges, the portfolio has delivered positive direct contribution and cash, and we expect revenues to increase over time. Mayne Pharma is now one of the top women’s health companies in the US based on our commercial footprint. NEXTSTELLIS® is the Company’s flagship product and the most significant commercial opportunity. Under new leadership and a refreshed and disciplined marketing plan, we invested additional targeted marketing spend during FY23. While FY23 NEXTSTELLIS® revenue was significantly over FY22, second half revenues were flat over first half. This occurred because, despite the product having steady growth in cycle count, unit sales, and prescriptions, there were a significant number of adjustments made between Gross Sales and Net Sales which impacted the net selling price in the second half. We have quickly addressed the causes of these adjustments and are seeing a recovery in net selling prices in the first quarter of FY24. Our team is fully committed to driving growth and achieving profitable growth and strong returns from NEXTSTELLIS®. Our disciplined approach to our sales and marketing strategy will see us continue to refine our marketing investments in FY24 which will lead to lower spending this year. Our strategy for Dermatology outlined in our FY22 letter was to continue to grow via the addition of complimentary products, however our immediate challenge was to address the significant issues encountered during the first half which we described at last year’s AGM. These included higher than expected channel inventory, co-pay charges, and industry pricing pressure. Following the restatement of the FY22 dermatology results, we are pleased to report that our Dermatology business is on a surer footing and the team continues to show discipline while seeking out new accretive opportunities that do not require further significant capital to be invested. Whilst we were slightly behind our targeted recovery to deliver positive contribution in the second half, this should not diminish from the team’s effort to deliver the turnaround. Further, our active brand promotion and the successful launch of DORYX® MPC 60 mg underpinned our confidence in the growth potential with anticipated contributions of both an authorised generic version of ORACEA® and the recently acquired RHOFADE® boding well for FY24. Mayne Pharma Annual Report 2023 5 Letter from the Chair and the CEO Mayne Pharma has the unique opportunity to disintermediate a system rife with inefficiencies and pain points. The Dermatology segment is particularly well-suited for disruption given continuous demand (most dermatological conditions are not permanently cured), long cycle times, and ever-worsening insurance coverage. Through our drug sourcing abilities, vast pharmacy network, and extensive provider coverage, we are creating a comprehensive, frictionless, transparent, and cost-effective experience for prescribers and patients. We are seeing good success with piloting a program utilising the GoodRx® Prescriber Portal and our Adelaide Apothecary to boost access to our broad product range for patients at market competitive prices. Another stated objective highlighted in our FY22 letter was to aggressively rationalise our retail generic portfolio in favour of more sustainable products. In February we announced the sale of our US Retail Generics business to Dr. Reddy’s Laboratories SA, a subsidiary of Dr. Reddy’s Laboratories, Ltd. (collectively, Dr. Reddy’s) (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY) for upfront cash consideration of US$90 million (~A$133 million), plus up to US$15 million in contingent milestone payments. At the same time, we entered into a supply agreement for certain products manufactured at our facility in Salisbury, South Australia. It was clear that Mayne Pharma was not able to compete effectively in the US retail generics market due to size and scale. The sale allowed us to reduce the complexity of our operations, right-size the business, and re-centre our efforts on three core segments – women’s health, dermatology, and international. Capital Management Mayne Pharma finished FY22 with approximately $413 million in debt. The completion of the sale of Metrics Contract Services provided the cash needed to retire that debt and based upon a strengthened balance sheet we announced to shareholders a capital management package that included a fully franked dividend of approximately $47.3 million and a pro-rata capital return of up to $65.6m. After closing the TXMD transaction in January, the Board proceeded with the payment of the fully franked dividend, but deferred the capital return, which was subsequently cancelled in late February. We know this was very disappointing to many shareholders, but the Board believed it was prudent to retain a conservative balance sheet to support the business during its transition phase and while it continued to assess the appropriate capital structure. Following the completion of the sale of the US Retail Generics business, the Board reviewed its capital management program and announced a share buyback of up to 10% of our issued capital. The Board believes that this is the most effective form of capital management at this time. The sale of the Metrics Contract Services business, the acquisition of the commercial rights to ANNOVERA®, IMVEXXY® and BIJUVA®, and the sale of the US Retail Generics business were all significant and complex transactions requiring extensive modifications to Mayne Pharma’s systems, processes, and business model. There remains work to do to complete this transition, including several working capital adjustments that the Company must close out. We have taken a conservative position related to such close out items and as a result, the Board considers it prudent to maintain a conservative balance sheet and to hold a strong cash balance until this work is completed, at which time we will also review the appropriate capital structure. Recognising the progress we have made in our transition, and balancing the views of our shareholders, the Board has resolved to ask shareholders to approve an increase in the share buyback program from the current 10% to 15% at the AGM in November. Financial performance and position Mayne Pharma reported FY23 revenue from continuing operations of $184m, up 17% on FY22 when adjusted for discontinued operations (MCS, US Retail Generics). Gross profit of $83.5m was also up 17% on FY22. We reported an EBITDA Mayne Pharma Board of Directors (L-R): Shawn Patrick O’Brien, David Petrie, Patrick Blake, Ann Custin, Kathryn MacFarlane, Bruce Robinson, Frank Condella 6 Mayne Pharma Annual Report 2023 loss of $102m compared to positive EBITDA of $9m in FY22, reflecting lower margins due to gross to net impacts in addition to our women’s health investments related to supporting growth initiatives. On an underlying basis the Company reported an EBITDA loss of $95.3m vs a loss of $59.6m in FY22. Reported FY23 net loss after tax was $317m compared to a net loss after tax of $220m in FY22. Our BPD segment, comprising largely our women’s health portfolio, delivered $62m in revenue up 484% on FY22 reflecting the improved performance of NEXTSTELLIS® with dispensed cycles up 2.5x in June 2023 vs June 2022 and up 80% in the second half of FY23 on first half. Growth also reflected the second half contribution from the newly licensed products which commenced sales in January 2023. Gross profit improved to $54m up 541% on FY22 with direct operating expenses of $81.6m increasing 48% on FY22 reflecting the increased sales and marketing investment to support growth across the expanded portfolio. A direct contribution loss of $28m was a significant improvement on FY22 (loss of $46.6m) and 2H underlying direct contribution (excluding impact of accounting method changes) was $7.2m. Revenue for our Dermatology portfolio (noting that Retail Generics is excluded from the PPD segment) was $57m in FY23, compared to $92m for FY22, reflecting a poor first half performance, the result of elevated channel inventories due to FY22 product launches, competitive market pressure and gross to net accrual issues leading to the restatement we made. We have made several changes to avoid a repeat of such issues, such as detailed inventory confirmations, roll forward calculations, more rigorous analytics etc to ensure this matter is behind us. Second half performance was improved as sales increased from $11.1m to $45.9m reflecting the normalisation of the sales channel and some normalisation of pricing as well as positive contribution from the launch of DORYX® MPC 60 mg. Gross profit declined to $10.7m in FY23 and whilst a direct contribution loss of $21m was delivered for the full year, Dermatology returned to positive direct contribution by the end of the second half. Our International segment delivered $65m in revenue during FY23, up 19% on FY22. Gross profit increased by 7% to $18.9m while direct operating expenses increased by 26% to $12.1m reflecting Australian launch costs of NEXTSTELLIS®. FY23 direct contribution of $6.9m reflected the higher costs as well as manufacturing performance issues in the first half. 2H direct contribution of $4.1m reflected higher third-party sales. Mayne Pharma set itself a goal of moving towards positive cash generation during FY23. Positive operating cash was delivered in the second half, in line with the significant improvement across each segment. Following completion of multiple transactions and the payment of the special dividend during the second half, Mayne Pharma closed the FY23 year with a cash balance of $172.6m, and a business with significantly less complexity. FY24 operational and strategic priorities With our diverse and newly streamlined business model, Mayne Pharma’s mission is to address the needs of patients across three segments while driving sustainable profitability and growth. To this end, our key operational and strategic priorities are to: • Deliver growth in the existing businesses of US Women’s Health, US Dermatology and International without any significant use of capital for acquisitions • Complete the integration of the licensed women’s health portfolio, with a focus on increasing sales, improving net selling prices, and managing our cost infrastructure • Continue to drive NEXTSTELLIS® unit growth while improving net selling price and delivering a positive contribution margin by managing our cost structure effectively • Launch low strength BIJUVA® in the second half of FY24 • Refine our Dermatology channel strategy to drive better market access for patients and prescribers • Further improve the performance of our International segment with new manufacturing revenue streams and targeted investments to increase site productivity and capability • Improve operational efficiency, with a refreshed program of cost and efficiency initiatives that will ensure the business is appropriately scaled to support profitable sales growth Board Change Subsequent to the year end and following the sale of shares by Mithra Pharmaceuticals SA, Carolyn Myers retired from the Board at the end of July. We thank Carolyn for her service and contribution to the Board. Outlook FY24 will be a year of consolidation and execution, with all three business units expected to generate positive contribution, helping to return Mayne Pharma to positive EBITDA and operating cash generation. On behalf of the Board, we would like to thank our employees for their continued dedication to delivering for our customers, our patients, and our shareholders. FY23 has been an eventful year and we thank our shareholders for their ongoing patience, understanding and support as we set Mayne Pharma on its path to growth and a return of shareholder value creation. The Mayne Pharma team is excited by the opportunities in front of us and we look forward to reporting on our progress during FY24. Frank Condella Chair Shawn Patrick O’Brien Managing Director and CEO Mayne Pharma Annual Report 2023 7 Sustainability at Mayne Pharma For further information refer to Mayne Pharma’s sustainability website maynepharma.com/sustainability The pharmaceutical industry is responsible for improving living standards around the world by enabling people to live longer and healthier lives. Mayne Pharma’s key focus is to bring better, safe and more affordable medicines to market, enabling patients to better manage their health. Our responsibilities as an organisation are to the patients and consumers we serve, our employees, the communities in which we operate and our shareholders. Our People Our Products Mayne Pharma is committed to providing a healthy and safe Mayne Pharma is committed to the safety of patients as work environment for its employees, contractors and visitors. We promote health, safety and wellbeing in the workplace and constantly strive to equip our people with the right skills and resources to perform their roles safely. We provide training and development opportunities for staff and encourage a supportive and inclusive culture. they use the medications we develop, manufacture and market. We have a solid track record of quality and safety and continuously invest in embedding a culture of quality and safety at all levels of our Company. The Company is committed to delivering quality products and services that comply with all relevant regulatory and customer requirements. We are also committed to providing affordable and accessible medicines and ensuring our products are marketed Our Operations responsibly. Mayne Pharma understands the value of operating its business sustainably and protecting the environment in which we operate. We aim to: Our Community • Reduce scope 1 and 2 greenhouse gas (CGG) emissions Mayne Pharma contributes to community activities financially, • Increase energy efficiency and use renewable sources in-kind and by donating time. We support several not-for- where feasible • Continue to reduce the environmental impact of active pharmaceutical ingredients used in its manufacturing and laboratory operations • Reduce the overall mass of packaging materials per unit dose and increase the proportion of recycled and responsibly sourced materials across the supply chain • Reduce water usage annually and use wastewater recycling opportunities where feasible • Continue to develop further sustainable initiatives to reduce Mayne Pharma’s environmental footprint 8 Mayne Pharma Annual Report 2023 profit organisations that contribute to community-based initiatives, support disadvantaged segments of society, conduct educational and training programs and promote healthy lifestyles. Mayne Pharma also supports and recognises researchers and young scientists. We encourage students to pursue higher education in science programs, sponsor awards, provide work placements for students and collaborate on education and research. As a socially responsible organisation, we aim to: promote a safe and healthy work environment deal ethically and fairly with all stakeholders prevent or minimise any environmental impact encourage innovation in product design attract and retain the best talent meet or exceed our statutory obligations and commitments deliver returns to our shareholders Mayne Pharma Annual Report 2023 9 DIRECTORS’ REPORT The Directors of Mayne Pharma Group Limited (‘the Company’) present their report together with the financial report of the Company and its controlled entities (collectively the ‘Group’ or ‘Consolidated Entity’ or ‘Mayne Pharma’) for the year ended 30 June 2023 and the Auditor’s Report thereon. The information set out below is to be read in conjunction with the Remuneration Report set out on pages 23 to 34, which forms part of this Directors’ Report. DIRECTORS The Directors of the Company during the financial year and up to the date of this report are set out below. Directors were in office for this entire period unless otherwise noted. Mr Frank Condella, Chair Mr Shawn Patrick O’Brien, Managing Director and CEO (appointed 1 October 2022) Mr Patrick Blake Ms Ann Custin Dr Kathryn MacFarlane Dr Carolyn Myers (resigned 31 July 2023) Mr David Petrie (appointed 1 September 2022) Prof Bruce Robinson, AC Mr Ian Scholes (resigned 30 September 2022) Mr Scott Richards, (former Managing Director and CEO, resigned 1 October 2022) The Directors’ qualifications, other listed company directorships, experience and special responsibilities are detailed on pages 18 and 19 of this report. The qualifications and experience of the Company Secretary are detailed on page 19 of this report. DIRECTORS’ MEETINGS The number of Directors’ meetings (including meetings of committees of Directors) and number of meetings attended by each of the Directors of the Company during the 2023 financial year are: BOARD 1. 2. 3. 4. 5. AUDIT & RISK COMMITTEE NOMINATION COMMITTEE REMUNERATION & PEOPLE COMMITTEE SCIENCE, TECHNOLOGY & MEDICAL COMMITTEE HELD1 ATTENDED2 HELD1 ATTENDED2 HELD1 ATTENDED2 HELD1 ATTENDED2 HELD1 ATTENDED2 Mr F Condella3 20 20 - 8 1 1 10 10 - - Mr I Scholes 4 3 3 3 - - 4 3 - - Mr S Richards4, 5 4 2 - - - - - 2 - - Mr S O’Brien3,4, 5 16 14 - 9 - - - 5 - 3 Mr P Blake 20 19 14 14 - - 10 10 - - Ms A Custin 20 18 14 14 - - - - - - Dr K MacFarlane 20 20 - - 1 1 - - 3 3 Dr C Myers 20 17 - - - - - - - - Mr D Petrie 17 17 11 11 - - 7 7 - - Prof B Robinson 20 18 - - 1 1 - - 3 3 This column shows the number of meetings held during the period the Director was a member of the Board or Committee. This column shows the number of meetings attended. Mr Condella and Mr O’Brien are not members of the Audit and Risk Committee however they attend meetings at the Chair’s invitation. Mr Richards and Mr O’Brien are not members of the Remuneration and People Committee however they attend meetings at the Chair’s invitation. Mr O’Brien is not a member of the Science, Technology & Medical Committee however he attends meetings at the Chair’s invitation. SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS • On 4 October 2022, Mayne Pharma completed the sale of the Metrics Contract Services (MCS) business to Catalent Pharma Solutions, Inc. Following completion and after allowing for reinvestment needs, the Company used the net proceeds to repay the syndicated debt facility and to pay a dividend to shareholders. • The Group completed an exclusive licence agreement effective 31 December 2022 to license products from TherapeuticsMD, Inc. (TXMD). These assets have been added to the Women’s Health portfolio and CGU alongside NEXTSTELLIS®. In conjunction with the licence agreement the Group issued US$27.95m of convertible notes. • The Group completed the sale of the Retail Generics business to Dr. Reddy’s Laboratories on 7 April 2023. The Company also completed a 20:1 share consolidation in January 2023. These changes are discussed in the Principal Activities, Review of Operations and Likely Developments sections of this report. PRINCIPAL ACTIVITIES Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising branded women’s health and dermatology pharmaceuticals. Mayne Pharma has a 40-year track record of innovation and success in developing new oral drug delivery systems and these technologies have been successfully commercialised in numerous products that continue to be marketed around the world. Mayne Pharma has a product development and manufacturing facility based in Salisbury, Australia with expertise in the formulation of complex oral 10 Mayne Pharma Annual Report 2023 and topical dose forms including modified-release products and poorly soluble compounds. REVIEW OF OPERATIONS AND LIKELY DEVELOPMENTS Summary of financial performance Set out below is a summary of the financial performance attributable to Mayne Pharma shareholders for the 2023 financial year (FY23) compared to the prior corresponding period (pcp). The summary includes Mayne Pharma’s share of Inhibitor Therapeutics Inc (INTI) for the period during which Mayne Pharma held control (i.e. up to 14 December 2022). 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. Key measures of earnings considered by management in operating the business and assessing performance are earnings before interest, tax, depreciation, amortisation and impairment (‘EBITDA’) and Adjusted EBITDA. 2023 $M RESTATED 2022 $M CHANGE ON PCP $M Reported Revenue continuing operations 183.6 157.1 26.5 Reported Gross profit continuing operations 83.5 71.6 11.9 Reported Gross profit % 45.5% 45.6% Adjusted EBITDA (95.3) (59.6) Adjustments1 (6.7) 68.6 (75.3) Reported EBITDA continuing operations (102.0) 9.0 (111.0) Impairments (69.2) (68.3) (0.9) Depreciation / Amortisation (65.4) (55.1) (10.3) Reported Profit / (Loss) Before Interest and Tax continuing operations (122.2) SALES AND PROFIT (35.7) (236.5) (114.4) Net interest (3.7) (15.9) 12.2 Foreign exchanges gains/(losses) financing activities (11.0) 0.8 (11.8) Earn-out & deferred consideration liabilities discount unwind (18.4) (16.1) (2.3) Reported Profit / (Loss) Before Tax continuing operations (269.7) (145.6) (124.1) Income tax credit / (expense) (47.7) (74.5) 26.8 Reported Net Profit / (Loss) After Tax attributable to Mayne Pharma shareholders continuing operations (317.4) (220.1) (97.3) 1. 2. Current year adjustments are included in the table below. Restated to present the MCS and Retail Generics businesses as discontinued operations and for the restatement of the 30 June 2022 financial statements as disclosed in Note 1(f). Amounts throughout this Directors Report have been restated for the impacts of these items where required. The reconciliation of reported results (from continuing operations) and adjusted results for the current year is as follows: SALES AND PROFIT REPORTED ATTRIBUTABLE TO MEMBERS JUNE 20231 $M EARN-OUT REASSESSMENTS 2 $M RESTRUCTURING3 $M SUPPLY CHAIN DOUBTFUL DEBT4 DISRUPTION5 $M $M Revenue 183.6 3.7 Gross profit 83.5 3.1 Gross profit % 45.5% EBITDA (102.0) Depreciation / Amortisation (65.4) Asset impairments (69.2) PBIT (236.5) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. ASSET IMPAIRMENTS6 $M DERIVATIVE FAIR VALUE INSURANCE ADJUSTMENT 8 RECOVERY 7 $M $M INTI9 $M LITIGATION10 $M ADJUSTED JUNE 2023 $M 187.3 86.6 46.2% (23.9) 12.1 7.8 3.1 (3.4) 2.7 3.2 (95.3) 5.1 (65.4) 69.2 (23.9) 12.1 7.8 3.1 69.2 -(3.4) 2.7 3.2 5.1 (160.7) The values in the above table are values attributable to members of Mayne Pharma and hence include only Mayne Pharma’s share of INTI. The Consolidated Statement of Profit or Loss and Other Comprehensive Income and supporting notes such as Note 5 for income tax include 100% of INTI and hence differ from the above values. Non-cash credit arising from the decrease in earn-out and deferred consideration liabilities with the majority rela