AUSTAL LIMITED — Capital/Financing Update 2021

Aug 4, 2021

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COMPANY ANNOUNCEMENT 5 AUGUST 2021

AUSTAL USA AWARDED MAINTENANCE AND MODERNIZATION - CONTRACT FOR WEST COAST BASED LITTORAL COMBAT SHIPS

Austal Limited (ASX:ASB) is pleased to announce that Austal USA was been awarded a Sustainment Execution Contract (SEC) by the United States Navy (USN) enabling the Company to bid for repair, maintain and modernization work on Littoral Combat Ships (LCS) homeported in San Diego, California, as the prime contractor.

Until this award Austal USA could only perform these roles as a subcontractor, so was reliant on other SEC holders to award it work.

The ‘SEC-West’ contract significantly expands the reach of Austal USA’s sustainment business in the United States, which will include service centres in Mobile, Alabama on the Gulf of Mexico, and San Diego, California on the west coast. Austal USA also provides support to USN vessels operating in South East Asia from a service centre located in Singapore.

The SEC West contract will commence immediately and is anticipated to run for a period of five years.

Austal Limited Chief Executive Officer Paddy Gregg said the new contract was another example of how Austal USA was successfully growing its sustainment business across the United States.

“Austal USA has not only been constructing some of the most impressive warships in the United States Navy, but also providing ongoing service and support to those vessels, operating throughout the west coast of the United States and internationally,” Mr Gregg said.

“Now, with this SEC-West contract, Austal USA is able to offer our proven support services as prime contractor to the Navy on the west coast of the United States, and across both variants of the Littoral Combat Ship, including the steel hulled Freedom-class.

“On top of the recent expansion of our Mobile shipyards’ vessel sustainment capability, which includes additional waterfront property, covered vessel repairs facilities and a 20,000 tonne floating dry dock, this contract positions Austal USA exceptionally well to support the US Navy, Military Sealift Command and US Coast Guard fleets.”

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In 2020, Austal USA completed post-delivery maintenance work on both the USS Cincinnati (LCS 20) and the USS Kansas City (LCS 22) in Mobile, mitigating the maintenance backlog in San Diego.

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

-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 340 vessels for over 121 commercial and defence operators in 59 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 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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