Press Release

HOUSTON – April 16, 2020 – KBR (NYSE: KBR) announced today that its Government Solutions Asia-Pacific (GS APAC) business has recently acquired over 15 new defense contracts from Australian company SMA.

The highly strategic SMA contract acquisition covers a range of projects around Australia and adds even more depth and strength to KBR’s successful technical training services with the Royal Australian Navy (RAN). KBR is now positioned as the leading provider of technical training to the RAN and well prepared to support the RAN’s commitment to upgrade its fleet across submarines, offshore patrol vessels and new frigates.

The GS APAC business had double digit organic growth in 2019 and is working toward continuing the momentum with 28 contract wins in Q1 -- a combination of new awards and extensions -- reflecting its strong reputation for trusted service and delivery excellence.

The majority of awards were from the Australian Department of Defence supporting the government’s investment in new military capabilities for the Australian Defence Force (ADF). These include major programs, some of which KBR has been engaged with for many years, such as the integrated soldier system support program for the Australian Army, sustainment engineering for the largest ships in the RAN, Mission IT solutions and support across the ADF, and workforce training for the Garrison Estate Management System project. KBR’s work as a ‘Major Service Provider’ to the Department of Defence also accounts for a significant portion of the awards for multiple Defence System Program Offices spanning land, sea, air and joint domains.

“KBR’s global Government Solutions business has enjoyed strong revenue performance, especially so in Australia where we have consistently delivered growth with healthy margins,” KBR President and CEO Stuart Bradie said. “The addition of SMA adds to our continued success in the region and winning new work and contract extensions further demonstrates our operational strength and mission focus even as we maneuver through these unprecedented and challenging times.”

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 37,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, serving government customers globally, including capabilities that cover the full lifecycle of defense, space, aviation and other government programs and missions from research and development, through systems engineering, test and evaluation, program management, to operations, maintenance, and field logistics
• Technology Solutions, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
• Energy Solutions, including onshore oil and gas; LNG (liquefaction and regasification)/GTL; oil refining; petrochemicals; chemicals; fertilizers; differentiated EPC; maintenance services (Brown & Root Industrial Services); offshore oil and gas (shallow-water, deep-water, subsea); floating solutions (FPU, FPSO, FLNG & FSRU); program management and consulting services

KBR is proud to work with its customers across the globe to provide technology, value-added services, integrated EPC delivery 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 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; 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