AUSTAL LIMITED — Capital/Financing Update 2020

Sep 13, 2020

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Austal Limited (ASX:ASB) is pleased to announce the completion of an agreement to purchase additional waterside land, buildings, and an existing dry dock along the Mobile River previously owned by World Marine of Alabama. The purchase enhances the company’s new construction and service business lines.

The purchase includes the 20,000 ton ‘Pete B’ Panamax-class floating dry dock, 100,000 square feet of covered repair facilities and 15 acres of waterfront property along the Mobile River and Gulf of Mexico. A small proportion of this waterfront property is leased to Austal.

The acquisition expands Austal’s new construction and service strategy by securing launch and deep water berthing capability to support future new construction efforts, including steel ships and an increased service and repair capacity. The acquisition price is under US$10 million and will be funded from cash holdings.

Austal USA is the one of the largest shipbuilders in the United States. The company’s manufacturing facility and headquarters is located on 164 acres of land on the Mobile River. MARRS is located across the river and will increase the ability of Austal USA to expand its aluminium, steel and repair operations in a vital part of the United States that boasts a rich tradition of shipbuilding and repair work.

This ASX announcement has been approved and authorised for release by David Singleton, Austal Limited’s Chief Executive Officer.

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-ENDS-

Media Contact:

Cameron Morse +61 433 886 871 cameron.morse@fticonsulting.com

About Austal:

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

For more than 30 years 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 first ASX-listed shipbuilder. Austal has industryleading shipyards in Australia, the United States of America, Philippines and Vietnam with service centres worldwide, including the Middle East.

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 is the only foreign-owned prime contractor designing, constructing and sustaining ships for the US Navy.

Austal has grown to become the world’s largest aluminium shipbuilder and is Australia’s largest defence exporter.

Austal Limited ACN 009 250 266 100 Clarence Beach Road

Henderson, Western Australia 6166

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