AUSTAL LIMITED — Capital/Financing Update 2026

May 3, 2026

AUSTAL LIMITED

COMPANY ANNOUNCEMENT 4 MAY 2026

UPDATE TO CONTRACT PRICE IN PREVIOUS ANNOUNCEMENT REGARDING CONTRACT FOR 2 X EVOLVED CAPE CLASS PATROL BOATS FOR ABF

Austal Limited (ASX: ASB) refers to its announcement to ASX earlier today (4 May 2026) titled 'Austal awarded contract for two additional Evolved Cape-class Patrol Boats for Australian Border Force.' That announcement noted the contract price as approximately A$136 million, which is incorrect. The correct price is approximately A$150.3 million.

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. In November 2024 the Australian Commonwealth Government appointed Austal as its Strategic Shipbuilder for the construction of key Defence vessels in Western Australia.

For almost 40 years Austal has contracted more than 360 vessels for over 122 commercial and defence operators in 59 countries, worldwide.

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

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Austal manufactures and delivers large, complex vessels to the United States Department of Defense, United States Coast Guard, Australian Department of Defence and Australian Department of Home Affairs and other defence and border force agencies around the world.

Having designed, manufactured and delivered 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’s capability has expanded to include the delivery of Offshore Patrol Cutters for the United States Coast Guard, nuclear submarine modules for US Virginia and Columbia class submarines, auxiliary vessels for the United States Navy and landing craft and patrol boats for the Australian Department of Defence.

Austal Limited ACN 009 250 266
100 Clarence Beach Road
Henderson, Western Australia 6166