AUSTAL LIMITED — Capital/Financing Update 2018

Sep 10, 2018

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COMPANY ANNOUNCEMENT 11 SEPTEMBER 2018

RESPONSE TO ANNOUNCEMENT BY GOVERNMENT OF TRINIDAD AND TOBAGO

Austal Limited (Austal) (ASX: ASB) notes the announcement by the Prime Minister of Trinidad and Tobago in that country’s press that the Trinidad and Tobago Cabinet has authorised the purchase of a fast ferry from Austal.

Austal looks forward to negotiating and resolving terms for the purchase of this vessel as quickly as possible. In the meantime, this initial announcement will trigger the release of a down payment which will allow design of the vessel to commence and for initial long lead materials to be procured.

The vessel will be a 94 metre high speed catamaran for operation on the sea bridge between Trinidad and Tobago. This vessel is a variant of the two 109m high speed catamaran’s currently in production at Austal.

Other details have not been released at this time. Contract finalisation is not expected for several weeks.

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Further Information:

Austal Media Contact: Contact: Gemma Whiting - Government Relations Mobile: +61 (0)408 982 727 Email: gemma.whiting@austal.com Website: www.austal.com

About Austal

Austal is an Australian shipbuilder and global defence prime contractor which designs constructs and sustains some of the world’s most advanced commercial and defence vessels.

Austal successfully balances commercial and defence projects and celebrates 30 years of success in 2018. Austal has designed, constructed and delivered more than 300 commercial and defence vessels for more than 100 operators in 54 countries worldwide.

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Austal is Australia’s largest defence exporter and the only ASX-listed shipbuilder. Austal has industry leading shipyards in Australia, the United States of America and Philippines and service centres worldwide.

Austal delivers iconic monohull, catamaran and trimaran commercial vessel platforms – including the world’s largest trimaran ferry and multiple defence programs such as the Littoral Combat Ship (LCS) and Expeditionary Fast Transport (EPF) for the United States Navy. Austal has grown to become the world’s largest aluminium shipbuilder.

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