AUSTAL LIMITED — Capital/Financing Update 2018

Apr 5, 2018

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COMPANY ANNOUNCEMENT 6 APRIL, 2018

AUSTAL AWARDED US$10M US NAVY CONTRACT FOR LCS SERVICE WORK

Austal (ASX:ASB) today announced the United States Department of Defense has awarded Austal USA US$10,252,142 for a cost-plus-award fee against a previously awarded Basic Ordering Agreement.

The order provides engineering and management services for advanced planning and design in support of the post shakedown availability for Littoral Combat Ship, USS Manchester (LCS14).

Austal will provide program management, advanced planning, engineering, design, material kitting and subcontract management. The work will be conducted by Austal USA across the Mobile, Alabama and San Diego, California facilities.

“The LCS has a significant economic footprint in the United States supporting tens of thousands of jobs through the contributions of more than 900 local suppliers in 41 states involved in the program,” Austal CEO, David Singleton said.

The Littoral Combat Ship is a 127m, Frigate sized vessel built at Austal’s facility in Mobile, Alabama. The program is operating at a full rate of production with six ships currently under construction and a further two set to commence in the next year. Charleston (LCS 18) is preparing for trials. Final assembly is well underway on Cincinnati (LCS 20) and Kansas City (LCS 22). Modules for Oakland (LCS 24) and Mobile (LCS 26) are under construction in the module manufacturing facility.

-ENDS-

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Further Information:

Contact: Gemma Whiting Mobile: +61 (0)408 982 726 Email: gemma.whiting@austal.com Website: www.austal.com

About Austal

Austal is an Australian shipbuilder and global defence prime contractor designing, constructing and sustaining some of the world’s most advanced commercial and defence vessels.

Celebrating 30 years of success in 2018, Austal has contracted more than 300 vessels for over 100 commercial and defence operators in 54 countries, worldwide.

Austal is Australia’s largest defence exporter and 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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