Press Release

HOUSTON – (June 28, 2021) – KBR (NYSE: KBR) announced today that it has been awarded a contract by Raízen Argentina for modernizing the Fluid Catalytic Cracking (FCC) unit at its Buenos Aires Refinery.

Under the terms of the contract, KBR will provide a basic engineering package for the FCC New Configuration Project.  KBR will offer its industry-leading reaction and catalyst regeneration technologies that will enable Raízen to achieve higher unit profitability, enhanced on-stream availability and a lower carbon footprint.

"We are proud to be a part of Raízen's FCC project to modernize the unit," said Doug Kelly, KBR President, Technology.  "This project demonstrates KBR's commitment to deliver differentiated technologies that help our clients to meet their performance objectives."

"We trust KBR will deliver a state-of-the-art and more environmentally friendly modernization of our FCC unit" said Julio Ramos, Projects Director, Raízen Argentina.

As a pioneer in FCC technologies, KBR developed the world's first commercial FCC unit in 1942, licensed the world's first Resid FCC process in 1961 and has executed over 200 FCC grassroots and revamp projects globally since 1985.  In addition to helping refiners achieve optimum product yields and environmental benefits, KBR's FCC-based processes and proprietary catalysts provide innovative solutions to integrate refineries and petrochemical plants to maximize operational flexibility and margins.

About Raízen Argentina

Raízen Argentina was created in October 2018 from the acquisition, by Raízen, of Shell Argentina's Downstream business. Its shareholders are 50/50 Shell and the Cosan Group from Brazil. Among its assets are the Buenos Aires Refinery, located in Dock Sud, the lubricants productive unit in Barracas neighborhood, more than 785 gas stations distributed throughout, the maritime fuel businesses, aviation fuels, asphalt, chemicals, as well as the activities supply and distribution. Through a brand license agreement, Raízen uses the Shell brand, which allows customers to continue accessing to the highest quality products and services that have characterized the brand in more than 100 years of history in Argentina.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 29,000 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.

Visit www.kbr.com  

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