Slide 1: FY2026 Half Year Results
FY2026 Half Year Results 23 February 2026 For personal use only Paddy Gregg Chief Executive Officer Christian Johnstone Chief Financial Officer 1
Slide 2: Austal 'at a glance'
Austal ‘at a glance’ A growing defence prime contractor, delivering for the defence and commercial maritime sectors $1.1B $60.3m $17.7B 4,633 5 Shipyards in 4 FY26H1 FY26H1 EBIT Current Employees countries revenue Order Book (incl. options) For personal use only 22 Ships Ordered 76 64 8 Service Cent
Slide 3: Key Locations
Key Locations A global operational footprint to meet the build and servicing requirements of customers Shipyard locations Location Land Area (M2) Ship Platforms LCS, EPF, MMF, OPC, T-ATS, Mobile, USA 467,000 LCU ,T-AGOS Patrol Boats and Landing Henderson, Australia 78,344 Craft Naval Base, Australia
Slide 4: FY26 H1 Highlights
FY26 H1 Highlights Order book strength and diversity demonstrates resilience in results Order Book Revenue EBIT EBIT Margin NPAT EPS Net Cash (incl. options) A$1.1bn A$17.7bn A$60.3m 5.4% A$30.5m 7.2cps A$241.4m ▲34% ▲ 35% ▲ 41% ▲20 bps ▲ 21% ▲ 4% 47% PCP: A$0.826bn PCP: A$13.1bn PCP: A$42.7m PCP: 5
Slide 5: Detailed United States pipeline
Detailed United States pipeline Long dated visible forward pipeline AUSTAL USA (A$m, approx. rounded) # Contracted Options Total Start - Key Contracts Client FY2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Ships $m $m $m Finish Littoral US Combat Ship 19 19 ships delivered 42 2005-25 19 Nav
Slide 6: Detailed Australian pipeline
Detailed Australian pipeline Strategic Shipbuilding Agreement enabled signing of LCM & LCH takes orderbook to $17.7bn AUSTAL Australia (A$m, approx. rounded) # Contracted Options Total Start - Key Contracts Client FY2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Ships $ $ $m Finish Guardian
Slide 7: Financial Highlights
Financial Highlights For personal use only 7
Slide 8: FY26 H1 Performance
FY26 H1 Performance Australian defence contracts drive revenue and profit growth Key Financials Key Commentary A$m FY26 H1 FY25 H1 change # Detailed commentary • Driven by award of Strategic Shipbuilding Agreement (SSA) programs Revenue 1,109.4 825.7 34.4% 1 1 • See slide 9 for additional commentary
Slide 9: Group Revenue Movement
Group Revenue Movement New programs coming on-line across the group Revenue bridge (A$m) $22 $2 $(1) $1,109 $95 $153 $13 $826 1 2 3 4 5 6 FY2025 H1 USA USA Australasia Australasia FX Consolidation FY2026 H1 Ship Building Support Ship Building Support Translation & Elimination YoY Movement ▲29.8% ▲11
Slide 10: Group EBIT Movement
Group EBIT Movement Australian contribution creating positive impact EBIT bridge (A$m) $15 $0 $1 $60 $43 $(10) $12 $(1) 1 2 3 4 5 6 FY2025 H1 USA USA Australasia Australasia FX Corporate FY2026 H1 Ship Building Support Ship Building Support Translation YoY Movement ▼36.8% ▼4.6% ▲620% ▲400% ▲14.2% ▲4
Slide 11: Segment Breakdown
Segment Breakdown Australasian business providing greater contribution. Revenue 96% defence, 4% commercial FY26 H1 by business segment Illustrative revenue split FY2026 H1, A$m Shipbuilding Support Total FY25 H1 FY26 H1 24% 21% Revenue 880.2 229.3 1,109.5 EBIT 27.0 41.1 68.1 76% 79% EBIT margin (%)
Slide 12: Balance sheet
Balance sheet Balance sheet reflective of increased investment in capacity and capability Summary balance sheet Key Commentary A$m, FY2026 H1 Dec 25 Jun 25 % change # Detailed commentary Cash & cash 1 • See slide 13 for commentary 371.6 583.9 (36.4)% 1 equivalents Inventory & WIP 728.4 601.4 21.1% 2
Slide 13: Group Cash Movement
Group Cash Movement FY2026 H1 net cash outflow reflects MMF3 construction progress Cash bridge (A$m) $584 $(63) $(15) $(131) $(1) $(7) $4 $372 1 2 3 4 Jun 2025 Net cashflow from Sustaining capex Enhancing capex Debt Lease principal FX Impact Dec 2025 operations obligation YoY ▼(301.2) m ▼(11.1) m ▼(
Slide 14: Business Overview
For personal use only Business Overview 14
Slide 15: Operational Highlights: United States
Operational Highlights: United States • Accelerated new surface ship construction by 13% via implementation of Austal Production System • EPF – christened USNS Lansing (EPF 16) (16th and last) • T-ATS – completed main engine “light off” of first steel vessel (T-ATS 11) • LCU – executing builders tri
Slide 16: Expanding Shipbuilding - Mobile, AL Shipyard
Final Assembly 2 Expanding Shipbuilding - Up to US$300m Mobile, AL Shipyard Module Manufacture 3 US$450m Submarine Industrial Base US$152m For personal use only • Investing in facilities for current and future shipbuilding programmes and additional submarine module capacity • Austal has received app
Slide 17: Operational Highlights: Australasia – Defence
Operational Highlights: Australasia – Defence Austal secured as Strategic Shipbuilder, with a record strong order book of future work Guardian Class Patrol Landing Craft Medium Mogami, GPF Boat Program Nearing 18 x commencing 8 x General Purpose Frigates, to be Completion construction this year cons
Slide 18: Operational Highlights: Australasia – Commercial
Operational Highlights: Australasia – Commercial A healthy pipeline, supported by ‘green tech’ is strengthening our commercial operations FY25 saw new contracts, with trend continuing into FY26 and a record number of vessels under construction at the Asian shipyards. For personal use only VELA, Fran
Slide 19: Through Life Support & Sustainment
Through Life Support & Sustainment Support and sustainment work provides stable, recurring revenue streams Target $500m revenue by FY27 – we are tracking well against this Continued growth in support and sustainment revenue supported Support and sustainment revenue, $m by: 467 477 $500 • Addressable
Slide 20: Austal Technology
Austal Technology A strong focus on technology development and innovation for future growth • Continued to grow MARINELINK Prime deployments on both new- Key technology offerings build and retrofit vessels. MARINELINK Prime • Austal Australia has received Approval in Principle (AiP) from Austal’s ne
Slide 21: Outlook
For personal use only Outlook 21
Slide 22: Strategic Outlook
Strategic Outlook Key growth pillars and increased defence expenditure to drive positive momentum in medium-term Order book $B 1 2 3 $17.7b 20.0 16.0 5x 12.0 Average to - 8.0 $3.3b FY16-23 Revenue and Earnings Order Book Growth Continued Investment in Modern 4.0 Australasia business performance ahea
Slide 23: Glossary
Glossary AFDM Auxiliary Floating Dock Module LCU Landing Craft Utility CCPB Cape Class Patrol Boat LUSV Large Unmanned Surface Vessel DDG(X) Next Generation Guided Missile Destroyer MMF3 Module Manufacturing Facility #3 (for submarine modules) ECCPB Evolved Cape Class Patrol Boat NGLS Next Generatio
Slide 24: Disclaimer
Disclaimer This presentation and any oral presentation accompanying it has been prepared by Austal Limited (“Austal”). It should not be considered as an offer or invitation to subscribe for or purchase any securities in Austal or as an inducement to make an offer or invitation with respect to those
Slide 25: Further Information
Further Information Paddy Gregg, Chief Executive Officer Telephone: +61 8 9410 1111 ASX: ASB www.austal.com For personal use only Company Timeline 1988 2011 2023 2025 Perth, Western Australia Balamban, Philippines Alabama, Mobile Australia Commenced operations Commercial shipbuilding facility T-AGOS