Press Release

KBR’s multidisciplinary team of industry experts advances the Air Force Research Laboratory’s trusted microelectronics initiatives while simultaneously keeping the nation safe.

HOUSTON – (June 24, 2021) – KBR (NYSE: KBR) won a $194.3 million task order to research, develop, test, and analyze the design and fabrication of microelectronics components, verifying and validating their trustworthiness for the U.S. Air Force Research Laboratory’s (AFRL) Trusted Electronics Branch (RYDT).

“We’re excited and proud to expand our research collaboration with AFRL,” said Stuart Bradie, KBR President and Chief Executive Officer. “KBR’s expertise in cutting-edge research will assist AFRL in assuring the integrity of microelectronics, which is vital to America’s security.”

Under the Security and Trustworthy Foundations for Electronics Resurgence (STryFER) task order, KBR’s efforts will include multidisciplined research and development of design best practices and methodologies for trusted systems in the digital and analog realm. The company will also develop unique and science-driven counterfeit detection schemes through microelectronic device characterization methodology, and advanced fabrication and packaging schemes for trusted microelectronics.

“The current semiconductor foundry market is undergoing significant change and we’re seeing a reduction in access to the technologies available to the DoD Trusted Foundry Program, which assures the integrity of integrated circuits during design and manufacturing,” said Byron Bright, KBR Government Solutions President.

“These reductions will continue to push the DoD towards increased reliance on commercial electronics providers, which drives the need for effective trust and assurance techniques. To address this issue, KBR’s multidisciplinary team of industry experts and academic teammates will provide AFRL with research support to advance the trustworthiness of these critical national security components,” said Bright.

The Air Force Installation Contracting Center, 774 Enterprise Sourcing Squadron awarded the cost-plus-fixed-fee task order through the DoD Information Analysis Center’s (IAC) Multiple Award Contract, an indefinite delivery, indefinite quantity vehicle for complex, integrated professional projects. KBR will carry out these duties at Wright-Patterson Air Force Base, as well as other locations over the next five years. The company has supported AFRL/RYDT and predecessor organizations since 2012.

KBR delivers enhanced technologies, leading edge research, and analysis that furthers AFRL’s trusted microelectronics research. The company’s innovative approaches, executed by a highly qualified and proven team, ensures its customers remain at the forefront of microelectronics research and development.

About DoD IAC Program

The DoD IAC, sponsored by Defense Technical Information Center, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD science and technology (S&T) and acquisition communities to drive innovation and technological developments by enhancing collaboration through integrated scientific and technical information development and dissemination for the DoD and broader S&T community.

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