Billabong Raises $31MM with Retail Entitlement Offer

ALLOTMENT OF ORDINARY SHARES UNDER RETAIL ENTITLEMENT OFFER

GOLD COAST, 31 March 2014: Billabong International Limited (ABN 17 084 923 9 46) (Billabong) confirms that the allotment of 112,349, 343 ordinary shares under the retail component of the Entitlement Offer took place today .

The shares were issued at A$0.28 per ordinary share and gross proceeds from the retail component of the Entitlement Offer amounted to approximately A$31 million.

Billabong’s issued capital prior to the allotment w as 878,020,691 ordinary shares.

Billabong’s issued capital post the allotment is 99 0,370,034 ordinary shares.

The shares will commence trading on a normal settle ment basis tomorrow, 1 April 2014.

MARIA MANNING
COMPANY SECRETARY

ASX ANNOUNCEMENT Source Billabong

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. Neither the Entitlements, nor the New Shares, have been, nor will be, registered under the U.S . Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States unless they have been registered under the Securities Act,or are offered and sold in a transaction exempt from, or not subject to, the registration requirements of the Securities Act and applicable U.S. state securities laws.

Neither this announcement nor any other documents r elating to the offer of New Shares may be sent or distributed to persons in the United States.

To the extent this announcement contains certain “forward-looking statements”, the words “expect”, “expected”, “plan”, “will” and similar expressions are intended to identify such forward-looking statements. Indications of future performance are also forward-looking statements, as are any statements in this announcement regarding the conduct and outcome of the entitlement offer. You are cautioned not to place undue reliance on forward-looking statements. While due care and attention has been used in the p reparation of any forward-looking statements, any such statements, opinions and estimates in this announcement, are based on assumptions and contingencies subject to change without notice, as are statements about mark et and industry trends, projections, guidance and estimates.

Any forward-looking statements contained in this announcement are not guarantees or predictions of future performance and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Billabong, and may involve significant elements of subjective judgement and assumptions as to future events, which may or may not be correct. Actual results, performance or achievements may vary materially from any forward-looking statements and the assumptions on which such statements are based. Investors should consider any forward-looking statements contained in this announcement in light of those disclosures. Any forward-looking statements are based on information available to Billabong as at the date of this announcement. Except as required by law or regulation (including the ASX Listing Rules), Billabong undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise.


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