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In this work we employ an encoder-decoder convolutional neural network to predict the failure locations of porous metal tension specimens based only on their initial porosities. The process we model is complex, with a progression from initial void nucleation, to saturation, and ultimately failure. The objective of predicting failure locations presents an extreme case of class imbalance since most of the material in the specimens do not fail. In response to this challenge, we develop and demonstrate the effectiveness of data- and loss-based regularization methods. Since there is considerable sensitivity of the failure location to the particular configuration of voids, we also use variational inference to provide uncertainties for the neural network predictions. We connect the deterministic and Bayesian convolutional neural networks at a theoretical level to explain how variational inference regularizes the training and predictions. We demonstrate that the resulting predicted variances are effective in ranking the locations that are most likely to fail in any given specimen.