A variable area exhaust nozzle defining an actual area ratio for a gas turbine engine that includes a shroud assembly having a fixed shroud and an adjustable cowl, an adjustable plug, a nozzle adjustment assembly, and a controller configured to receive data indicative of an operating speed of the gas turbine engine; determine a target area ratio based at least in part on received data indicative of the operating speed of the gas turbine engine; and operate the nozzle adjustment assembly to selectively adjust at least one of the adjustable cowl or the adjustable plug such that the actual area ratio is substantially equivalent to the target area ratio.