Press Release

The company awarded five-year recompete from U.S. Navy for key services supporting Hornet aircraft for Kuwait and Finland

HOUSTON – (Nov. 9, 2020) – KBR (NYSE: KBR) has secured a $47 million recompete to assist the U.S. Navy’s F/A-18 and EA-18G Program Office (PMA-265) with foreign military sales (FMS) to Kuwait and Finland. The Naval Air Warfare Center Aircraft Division (NAWCAD) awarded this cost-plus-fixed-fee contract.

KBR will continue to provide program management, engineering, technical and financial services to PMA-265 as it supports the F/A-18 air vehicle, subsystems, armament, engine and airborne weapons for these allied nations.

Specifically, the company will assess program requirements; develop, review and analyze FMS case documentation; and participate in technical reviews. It will also plan and analyze flight test programs; monitor the progress of software; develop estimates of financial requirements; and support training systems. This work will primarily take place in Patuxent River, Maryland, and includes a one-year base and four option years.

“We are proud to serve the Navy as it strengthens its relationship with Finland and Kuwait by supporting their national security initiatives,” said Byron Bright, KBR Government Solutions President. “This win highlights the extraordinary value KBR provides to our customers, time and time again.”

In addition to Finland and Kuwait, KBR provides its expertise to other FMS F-18 customers, including Australia and Switzerland.

For more than four decades, KBR has delivered integral development and systems modernization support to the F/A-18 family of aircraft, including the Super Hornet and EA-18G Growler. The F/A-18, which serves as an all-weather fighter and attack aircraft, is flown by the U.S. Navy and Marine Corps, as well as numerous allied countries. In fighter mode, the aircraft is used primarily as an escort and for fleet air defense. In attack mode, the F/A-18 provides force projection, interdiction, and close and deep air support.

About KBR

KBR is a global provider of differentiated professional services and solutions across the asset and program life cycle within the government and technology sectors. KBR employs approximately 28,000 people worldwide with customers in more than 80 countries and operations in 40 countries.

KBR is proud to work with its customers across the globe to provide technology, value-added services, and long- term operations and maintenance services to ensure consistent delivery with predictable results. At KBR, We Deliver.

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Forward Looking Statement

The statements in this press release that are not historical statements, including statements regarding future financial performance, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control that could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: the significant adverse impacts on economic and market conditions of the COVID-19 pandemic; the company's ability to respond to the challenges and business disruption presented by the COVID-19 pandemic; the recent dislocation of the global energy market; the company's ability to realize cost savings and efficiencies relating to the streamlining of its Energy Solutions business; the company's ability to manage its liquidity; the company's ability to continue to generate anticipated levels of revenue, profits and cash flow from operations during the COVID-19 pandemic and any resulting economic downturn; the outcome of and the publicity surrounding audits and investigations by domestic and foreign government agencies and legislative bodies; potential adverse proceedings by such agencies and potential adverse results and consequences from such proceedings; the scope and enforceability of the company's indemnities from its former parent; changes in capital spending by the company's customers, including as a result of the COVID-19 pandemic; the company's ability to obtain contracts from existing and new customers and perform under those contracts; structural changes in the industries in which the company operates; escalating costs associated with and the performance of fixed-fee projects and the company's ability to control its cost under its contracts; claims negotiations and contract disputes with the company's customers; changes in the demand for or price of oil and/or natural gas; protection of intellectual property rights; compliance with environmental laws; changes in government regulations and regulatory requirements; compliance with laws related to income taxes; unsettled political conditions, war and the effects of terrorism; foreign operations and foreign exchange rates and controls; the development and installation of financial systems; increased competition for employees; the ability to successfully complete and integrate acquisitions; and operations of joint ventures, including joint ventures that are not controlled by the company.

KBR's most recently filed Annual Report on Form 10-K, any subsequent Form 10-Qs and 8-Ks, and other U.S. Securities and Exchange Commission filings discuss some of the important risk factors that KBR has identified that may affect the business, results of operations and financial condition. Except as required by law, KBR undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

For further information, please contact:

Investors
Alison Vasquez
Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
MediaRelations@kbr.com