• Austal successfully completed $200M institutional placement
• Largest shareholder Tattarang participated to maintain 19.6% stake
• Placement proceeds to fund expansion of US shipbuilding capability

Austal Ltd has announced the successful completion of a $200 million institutional placement to fund the expansion of its US shipbuilding capability. The placement was strongly supported by both existing shareholders and new domestic and international investors. Austal's largest shareholder, Tattarang, participated in the placement to maintain its 19.6% ownership stake, demonstrating its continued support for the company. The net proceeds from the placement will be used to fund the FA2 infrastructure expansion project, which will enable Austal to deliver its current and future pipeline of large steel vessels for the US Navy and US Coast Guard. Austal CEO Patrick Gregg commented that the successful placement ensures the company is appropriately funded for the upcoming period of growth and execution. In conjunction with the placement, Austro Pty Ltd, an entity associated with Austal's former Chairman and current Non-executive Director, Mr. John Rothwell, has sold 13.2 million shares, representing approximately 41.4% of Mr. Rothwell's holding. Mr. Rothwell remains a non-executive director on the Austal board with a remaining 4.9% stake and has committed to not sell any further shares for six months. Austal has also announced details of a Share Purchase Plan (SPP) offering eligible existing shareholders the opportunity to apply for up to $30,000 of new shares at the same price as the placement.