• Identified overstatement of incentives related to T-ATS program
• FY2026 EBIT guidance updated to approximately A$110m
• Austal remains Australia's global shipbuilder and defence prime contractor

Austal Ltd has advised that in preparation of its half year accounts, the Company identified that some incentives related to its T-ATS program were recognised by its US subsidiary, Austal USA, in line with percentage of completion. These incentives had already been recognised in Austal USA's forecast at full value for the remaining part of the program. The US$17.1m (approx.) overstatement had been included in the Company's FY2026 EBIT guidance. As a result, Austal is updating its EBIT guidance for FY2026 to approximately A$110m. Austal remains 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 of America, Philippines and Vietnam with service centres worldwide.

Austal is updating its EBIT guidance for FY2026 to approximately A$110m.