• Austal USA awarded options for 3 additional Offshore Patrol Cutters
• Options valued at US$314 million (A$480 million)
• Funds also provided for logistics supply items for 2 OPCs

Austal Limited (ASX: ASB) is pleased to announce that the United States Coast Guard has exercised options worth US$314 million (A$480 million) with Austal USA for the Offshore Patrol Cutter (OPC) program. The contract options approve Austal to order long lead time materials (LLTM) for another three OPCs, Austal USA's 4th, 5th, and 6th cutters. Funds have also been provided for logistic supply items for two OPCs. The original OPC contract was awarded to Austal USA in June 2022 for detail design and construction of up to 11 OPCs, with a potential value of US$3.3 billion. To date, two of 11 OPCs in the contract have been awarded to Austal USA, as well as LLTM for a third. Work on Austal USA's first OPC, Pickering (WMSMS 919), is well underway with the keel laying planned for December. Construction began on Icarus (WMSMS 920) in early August. The 110 metre OPCs will support US national security strategy by maintaining the nation's economic, social, environmental and military security mission areas. The OPC will typically conduct its primary missions beyond 12 nautical miles from shore and will be employed anywhere US national interests require the Coast Guard's unique blend of authorities and capabilities.