FY2025 Earnings guidance update

• Austal upgrades FY2025 EBIT guidance to not less than A$100m
• Driven by strong underlying business performance and finalization of accounting treatment for submarine modules contract
• Annual audit in progress, updated guidance subject to final audit completion

Austal Limited (ASX: ASB) has announced an upgrade to its unaudited FY2025 Earnings Before Interest and Tax ('EBIT') guidance to not less than A$100m, up from the previous guidance of not less than A$80m. The principal driver of this update, in addition to strong underlying business performance, is the finalization of the accounting treatment related to Austal's manufacturing facility for submarine modules (MMF3) contract with General Dynamics Electric Boat announced on 16 September 2024, which has resulted in an EBIT contribution for FY2025. The Group's annual audit is in progress at the date of this announcement, and the updated guidance remains subject to final audit completion. 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. The Company has industry-leading shipyards in Australia, the United States, Philippines, and Vietnam, and service centres worldwide.

Austal Ltd upgrades its unaudited FY2025 EBIT guidance to not less than A$100m, up from the previous guidance of not less than A$80m.