AUSTAL LIMITED — Capital/Financing Update 2020

Jun 17, 2020

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Austal Limited (ASX:ASB) is pleased to announce that the United States Department of Defense has awarded Austal USA a modification to a previously awarded Littoral Contract Ship (LCS) contract. The modification provides Austal with a total potential additional value of US$43,362,000 (approx. A$62,700,000). Work is expected to be complete by June 2021.

The contract modification exercises options for LCS Class design services, material to support LCS Class design services and the US Navy’s Integrated Data Product Model Environment (IDPME).

Austal will provide LCS Class design services to all LCS ships and services may include program management, fitting out services, change processing, software maintenance, engineering and lifecycle efforts.

Austal will also maintain an IDPME that shall enable Navy access to enterprise LCS data management.

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

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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.

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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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