AUSTAL LIMITED — Capital/Financing Update 2015

Oct 13, 2015

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COMPANY ANNOUNCEMENT 14 OCTOBER 2015

REFINANCING UPDATE

Austal Limited ( Austal ) (ASX:ASB) is pleased to announce it has executed a conditional, three year financing agreement with a syndicate of four banks.

It is expected that all of the conditions precedent will be met in the coming weeks resulting in an effective date for the new agreement in November 2015.

Austal CEO Andrew Bellamy said that the financing agreement followed a competitive tender process which was narrowed down to four leading banks.

“It is pleasing that we have achieved this agreement with a high quality syndicate of two major Australian and two major US banks with significant US Defense contracting experience in good time, and we look forward to a smooth transition to the new facility agreement next month,” Mr Bellamy said.

The financing agreement is on more favourable and flexible terms than Austal’s existing facility. The capital structure of the Company is unchanged.

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About Austal

Austal is a global defence prime contractor and a designer and manufacturer of defence and commercial ships. For more than 25 years Austal has been a leader in the design, construction and maintenance of revolutionary ships for Governments, Navies and Ferry operators around the world. More than 250 vessels have been delivered in that time.

Ships

Defence vessels designed and built by Austal include multi-mission combatants, such as the Littoral Combat Ship (LCS) for the United States Navy and military high speed vessels for transport and humanitarian relief, such as the Expeditionary Fast Transports (EPF) formerly Joint High Speed Vessel (JHSV) for the United States Navy and High Speed Support Vessel (HSSV) for the Royal Navy of Oman. Austal also designs, constructs, integrates and maintains an extensive range of patrol and auxiliary vessels for government agencies globally, including the Cape Class Patrol Boat Program for Australian Border Force (formerly Customs and Border Protection). Defence vessels are designed and constructed in Mobile, Alabama and in Henderson, Western Australia.

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Austal has been at the forefront of the high speed ferry market since the early days of the industry. Our market leading designs of high performance aluminium vessels have long been at the heart of Austal’s research and development. Today, commercial ship construction is centred on our shipyard in Balamban, Philippines.

Systems

Austal has expertise in integrating complex systems into its ships, including ride control, ship management, and communication, sensors and weapon systems.

Support

Austal provides a wide range of support services, including through life support, integrated logistics support, vessel sustainment and systems support. These services are delivered through our global support network in the USA, Australia, Asia and the Middle East together with partner shipyards worldwide.

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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