AUSTAL AWARDED A$68M CONTRACT FOR 83 METRE TRIMARAN BY JR KYUSHU JET FERRY OF JAPAN

COMPANY ANNOUNCEMENT

5 MARCH 2018

AUSTAL AWARDED A$68M CONTRACT FOR 83 METRE TRIMARAN BY JR KYUSHU JET FERRY OF JAPAN

Following the Memorandum of Understanding (MOU) announced 8 December 2017, Austal (ASX:ASB) is pleased to announce the award of a A$68 million contract to design and build an 83 metre trimaran ferry for JR Kyushu Jet Ferry of Japan.

Australia’s Ambassador to Japan, The Hon Richard Court AC and Japan’s Consul-General in Perth, Western Australia, Mr Tatsuo Hirayama joined Austal’s Chairman Mr John Rothwell AO and Chief Executive Officer Mr David Singleton for a signing ceremony at the Australian shipyard with JR Kyushu Jet Ferry’s President, Mr Masayuki Mizuno and General Manager, Planning, Mr Hitoshi Ogawa.

“Austal congratulates JR Kyushu Jet Ferry on the selection of our proven trimaran platform to expand their Japan to South Korea route. This exciting new vessel will deliver excellent seakeeping and an unparalleled customer experience to JR Kyushu’s ferry network,” Mr Singleton said.

“This contract is an outstanding start to 2018 for Austal, following a record year for commercial vessel sales in 2017 - and reflects our continued focus as a technology-led organisation in developing industry-leading, customised solutions for commercial operators around the world.

Mr Ben Marland, Vice President Sales and Marketing, added “Austal’s unique trimaran hull design has truly revolutionised the commercial and defence vessel markets. This is the first high-speed trimaran ferry we have placed in to Japan and we are delighted to be partnered with JR Kyushu Jet Ferry on this prestigious route.

“With 9 Austal trimarans already in operation around the world, another 7 under construction and now 5 on order, it’s fair to say we are seeing a transformation in the market – and genuine customer enthusiasm for the proven technology, efficiency and capability of our design,” Mr Marland added.

The 83 metre trimaran, with a capacity for 502 passengers and an operational speed of 37 knots, will service JR Kyushu Jet Ferry’s key strategic route between Fukuoka, Japan and Busan, South Korea. The vessel will feature a customised interior, developed by respected Japanese design house, Don Design Associates, led by Mr Eiji Mitooka, famous for the luxuriously appointed interiors of JR Kyushu’s high-end passenger trains.

Construction of the vessel will commence in late 2018, with services scheduled to begin prior to the Summer Olympic Games in Tokyo in 2020.

Austal would like to acknowledge the assistance provided by the Australian Trade Commission Office in Japan in achieving this landmark sale, and in particular, Ian Brazier, the Consul-General and Trade Commissioner in Fukuoka, as well as the Shintoa Corporation of Japan.

Above: Austal Chief Executive Officer David Singleton congratulates JR Kyushu Jet Ferry President, Mr Masayuki Mizuno on the signing of a contract for an 83 metre trimaran (Photo credit: Austal)

Above: Australia’s Ambassador to Japan, The Hon Richard Court AC and Consul-General to Japan in Perth, Mr Tatsuo Hirayama joined Austal Chairman John Rothwell, Austal Chief Executive Officer David Singleton, JR Kyushu Jet Ferry President Mr Masayuki Mizuno, JR Kyushu Jet Ferry General Manager Planning, Mr Hitoshi Ogawa for the 83 metre trimaran contract signing ceremony. Representatives from Australia’s Department of Foreign Affairs and Trade, Austrade and Shintoa Corporation and Austal also attended the contract signing ceremony. (Photo credit: Austal)

Above: Artist impression of the 83 metre trimaran high speed passenger ferry to be designed and constructed for JR Kyushu Jet Ferry (Image Credit: Eiji Mitooka, Don Design Associates).

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About JR Kyushu Jet Ferry

JR Kyushu Jet Ferry (trading as ‘Beetle’) is a group company of Kyushu Railway Company and is based in Fukuoka, Japan.

The company was founded in 2005 and operates daily high-speed hydrofoil services from Fukuoka, Japan to Busan, South Korea.

Parent company, Kyushu Railway Company, was floated on the Japanese Stock Exchange in October 2016 and today carries approximately 315 million passengers yearly on its rail network in the Kyushu region of Japan.

About Austal

Austal is an Australian shipbuilder and global defence prime contractor designing, constructing and sustaining some of the world’s most advanced commercial and defence vessels.

Celebrating 30 years of success in 2018, Austal has contracted more than 300 vessels for over 100 commercial and defence operators in 54 countries, worldwide.

Austal is Australia’s largest defence exporter and only ASX-listed shipbuilder. Austal has industry-leading shipyards in Australia, the United States of America and Philippines and service centres worldwide.

Austal delivers iconic monohull, catamaran and trimaran commercial vessel platforms – including the world’s largest trimaran ferry and multiple defence programs such as the Littoral Combat Ship (LCS) and Expeditionary Fast Transport (EPF) for the United States Navy. Austal has grown to become the world’s largest aluminium shipbuilder.

Further Information:

Contact:                Gemma Whiting, Government Relations Manager

Mobile:                  +61 (0)408 982 726

Email:                    gemma.whiting@austal.com

Website:                www.austal.com