Press Release

HOUSTON – December 14, 2020 – KBR (NYSE: KBR) announced today it has been awarded a contract for an ammonia synthesis loop (synloop) by Monolith Materials, Inc. for its fertilizer project in Hallam, Nebraska.

Under the terms of the contract, KBR will provide a technology license, basic engineering design package, proprietary equipment and catalyst for a 930 metric tons per day ammonia synloop project. This project will consume hydrogen as feedstock from an emission-free, commercial-scale facility developed by Monolith Materials to produce both carbon black and ammonia from natural gas, air and 100% renewable power.

The Monolith Materials process converts natural gas into carbon and hydrogen with zero carbon oxide emissions.  The carbon is used to produce carbon black, a vital material found in many everyday products including tires, belts/hoses, plastics, batteries and inks and the hydrogen to produce ammonia for fertilizer and chemical applications.

“KBR’s energy-efficient ammonia technology is the first choice of ammonia producers globally. We are excited to be part of Monolith’s environmentally transformative fertilizer project in Hallam,” said Doug Kelly, KBR President, Technology. “Our sustainable process technology solutions are leading the energy transition industry globally.”

KBR’s innovative ammonia technology is valued for its low energy usage, higher reliability and lower capital costs. KBR has licensed, engineered or constructed 244 ammonia plants worldwide making it the world’s leading ammonia technology licensor.

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