Australia - Mayne Pharma Group Limited (ASX: MYX) is pleased to announce that Mr David Petrie has accepted an invitation to join the Board of Mayne Pharma, effective 1 September 2022.

The Company also announces that Mr Ian Scholes, Deputy Chair will retire from the Board at the end of September 2022.

Mr Petrie is an accomplished M&A executive with over 30 years of advisory experience in public and private mergers and acquisitions, capital management and debt and equity raisings. He is currently Principal at Stratford Advisory Group, an independent corporate and financial advisory firm. Previously, he spent 23 years at Merrill Lynch/Bank of America including Managing Director and Head of Investment Banking Melbourne. He has worked on more than 100 transactions across a range of market sectors including healthcare.

Mayne Pharma's Chair Mr Frank Condella said, 'We are delighted to welcome David to the Board of Mayne Pharma. He is an experienced finance executive and will bring a wide range of skills and experience to our Company across M&A, capital management and strategy.'

Mr Scholes has served as a Director of Mayne Pharma since October 2007 and is currently the Chair of the Audit and Risk Committee and a member of the Remuneration and People Committee and Nomination Committee.

Mayne Pharma's Chair Mr Frank Condella said, 'On behalf of the Board, I want to thank Ian for his outstanding commitment and service to Mayne Pharma over the last 15 years. Ian has provided sound guidance and support to the Company through the journey from a small biotech to a specialty pharmaceutical company with a broad portfolio of brands, generics and pharma services. We wish him well for the future.'

Mr Petrie has a Bachelor of Commerce (Honours) and Bachelor of Law (Honours) from the University of Melbourne. He has been a CPA for 30 years and is admitted as Barrister and Solicitor of the Supreme Court of Victoria.

Mr Petrie will also join Mayne Pharma's Audit and Risk Committee and the Remuneration and People Committee.

Contact:

Lisa Pendlebury

Tel: +61 419 548 434

Email: lisa.pendlebury@maynepharma.com

About Mayne Pharma

Mayne Pharma is an ASX-listed specialty pharmaceutical company focused on commercialising novel and generic pharmaceuticals, offering patients better, safe and more accessible medicines. Mayne Pharma also provides contract development and manufacturing services to clients worldwide.

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 two facilities based in Salisbury, Australia and Greenville, NC, US with expertise in the formulation of complex oral and topical dose forms including potent compounds, modified-release products and poorly soluble compounds.

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