AUSTAL LIMITED — Capital/Financing Update 2025

Mar 16, 2025

==> picture [98 x 63] intentionally omitted <==

COMPANY ANNOUNCEMENT 17 MARCH 2025

– SHARES ISSUED UNDER PLACEMENT CLEANSING NOTICE

Shares issued under Placement

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Austal Limited (ACN 009 250 266) (ASX: ASB) ( Company ) under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

The Company has today issued 52,631,579 new fully paid ordinary shares ( Placement Shares ) at an issue price of A$3.80 per Placement Share to certain sophisticated and professional investors under the institutional placement announced by the Company on 11 March 2025 ( Placement ).

The Placement is being conducted in conjunction with a non-underwritten share purchase plan, also announced by the Company on 11 March 2025.

In relation to the Placement, the Company advises that:

1. the Placement Shares the subject of this notice were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, the Company has complied with:

   • a. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

   • b. sections 674 and 674A of the Corporations Act; and

4. as at the date of this notice, there is no “excluded information” of the type referred to in sections 708A(7) or 708A(8) of the Corporations Act.

This notice was authorised for release to the ASX by the Board of Directors.

Yours sincerely

Adrian Strang

Company Secretary Austal Ltd

- ENDS -

Page 1 of 2

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.

In its 35 years of operations, Austal has built more than 350 vessels for 122 commercial and defence operators in 59 countries.

Austal is Australia’s largest defence exporter and first ASX-listed shipbuilder. The Company has industry-leading shipyards in Australia, the United States of America, Philippines and Vietnam, and service centres worldwide.

Austal delivers iconic monohull, catamaran and trimaran commercial and defence vessel platforms.

Although the Company’s roots are in aluminium shipbuilding – it is the world’s largest aluminium shipbuilder – Austal builds conventional and autonomous ships in both steel and aluminium, as well as a range of other bespoke maritime build programs such submarine modules.

Austal was the first, and remains one of only two, foreign-owned prime contractors designing, constructing and sustaining ships for the US Navy.

Austal Limited ACN 009 250 266 100 Clarence Beach Road

Henderson, Western Australia 6166

Page 2 of 2