AUSTAL LIMITED — Capital/Financing Update 2023

Jan 26, 2023

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COMPANY ANNOUNCEMENT 27 JANUARY 2023

AUSTAL SECURES US SUBMARINE COMMAND DECK MODULE CONTRACT FROM GENERAL DYNAMICS

Austal Limited (Austal) (ASX: ASB) is pleased to announce it has been awarded a time and material (T&M) contract by General Dynamics Electric Boat (GDEB) for structural assembly fabrication in support of the US Navy Virginia Class submarine program.

The contract, awarded to Austal USA, is for structural assembly fabrication in support of the US Navy Virginia Class submarine program. This award is a continuation of previously announced efforts to support Electric Boat in work for the US Navy submarine industrial base. This award is expected to provide potentially up to $25 million USD revenue for Austal USA.

Austal CEO Paddy Gregg said the previous contract to train staff was a key enabler for the current award.

“This style of contract is recognition of Austal’s shipbuilding expertise and provides important revenue diversification and expansion,” Mr Gregg said.

This ASX announcement has been approved and authorised for release by Paddy Gregg, 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.

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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