AUSTAL LIMITED — Capital/Financing Update 2011

Aug 11, 2011

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COMPANY ANNOUNCEMENT August 12, 2011

AUSTAL AWARDED CAPE CLASS PATROL BOAT CONTRACT

Austal is pleased to confirm the award of a contract for the design, construction and through-life support of eight new vessels for the Australian Customs and Border Protection Service. The approximate total value of the project is AUD$330M which comprises a AUD$280M design and construction contract and an In-Service Support contract valued at a minimum of AUD$50M.

The In-Service Support contract extends for a minimum period of eight years and encompasses a full range of intermediate and depot level maintenance activities. Further options can be exercised by the Australian Customs and Border Protection Service for In-Service Support for the 20 year life of the Cape Class Patrol Boat Fleet.

Austal will build the Cape Class Patrol Boats at its shipyard in Henderson, Western Australia. Austal Chief Executive Officer Andrew Bellamy noted that “The Cape Class contract will importantly aid Austal in sustaining our Henderson workforce.”

The Construction on the first vessel is expected to commence in February 2012, with all eight vessels due to be delivered between March 2013 and August 2015.

Mr Bellamy, commented that Austal is proud to have been selected to work with the Australian Customs and Border Protection Service once again, having delivered its current fleet of Bay Class Patrol Boats, which have been in operation for over 10 years.

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“This contract is significant for Austal in that it is a key first step in the repositioning of our Henderson facilities as a defence focused operation. It also serves to reaffirm our position as a global defence prime contractor as we are now the prime contractor on 3 defence projects, being Cape Class in Australia and LCS and JHSV in the United States.”

The contract was awarded this morning at a ceremony held at Austal’s Henderson shipyard, which was attended by the Prime Minister, the Hon Julia Gillard MP, the Hon Brendan O’Connor MP, Minister for Home Affairs and the Hon Gary Gray AO MP, Special Minister for State.

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About Austal

Austal is a global defence prime contractor. The Company designs, constructs and maintains revolutionary platforms such as the Littoral Combat Ship (LCS) and the Joint High Speed Vessel (JHSV) for the United States Navy, as well as an extensive range of patrol and auxiliary vessels for defence forces and government agencies globally. Austal also designs, installs, integrates and maintains sophisticated communications, radar and command and control systems.

Austal benefits from its position as a world leader in the design, construction and support of customised, high performance aluminium vessels for the commercial high speed ferry market, an achievement gained over a period of nearly 25 years.

Austal’s primary facilities comprise a combined defence and commercial shipyard in Henderson, Western Australia and a dedicated defence shipyard in Mobile, Alabama. The Company also provides vessel support services from its facilities in Australia, the United States, Europe, the Caribbean, and the Middle East.

For further information contact: Austal, Public Relations Tel: +61 8 9410 1111 Fax: +61 8 9410 2564 Email: pubrel@austal.com Website: www.austal.com

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AUSTAL ccPB

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PRINcIPAL DIMENSIONS

Length overall 57.8 metres Beam (overall) 10.3 metres Draft (approx.) 3.0 metres

cOMMUNIcATION & SENSORS

communication system Secure/Non-secure voice and data over VHF, UHF, SATcOM and Sea Boat’s Situational Awareness Navigation Integrated bridge system including: Radars, 2 x EcDIS, 2 x Gyro compass, Secure AIS, 2 x DGPS, EOSS and VDR

ADDITIONAL FEATURES

Sea boats 2 x 7.3 metre Gemini Motion control system Austal 2 x 3.25m[2 ] Roll fins, 2 x 4.5m[2 ] Trim Flaps PROPULSION Main engines 2 x caterpillar 3516c 2 x 2,525 kW @ 1,800 rpm Gearboxes 2 x ZF 9055A Propellers 2 x fixed pitch Bow thruster HRP 2001 TT(160 kW)

PERFORMANcE

Speed 25 knots Range at 12 knots > 4000 nautical miles

cLASSIFIcATION

Det Norske Veritas

1A1 Lc, PATROL, E0, NV, BIS, RP, NAUT-HSc, ELT, RADHAZ, SAM

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AUSTAL ccPB

Vessel Type: Cape class Patrol Boat

PROFILE

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PROFILE @ cENTRELINE

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BRIDGE DEck

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MAIN DEck

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LOWER DEck

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100 clarence Beach Road Tel +61 8 9410 1111 Henderson Fax +61 8 9410 2564 Western Australia 6166 sales@austal.com www.austal.com