Press Release

HOUSTON – (April 12, 2021) – KBR (NYSE: KBR) is expanding its presence in the UK naval defense sector with a new five year $470m contract to bring transformational change to the delivery of infrastructure services at HM Naval Base Portsmouth.

KBR, working in a joint venture with BAE Systems, under the name KBS Maritime, will deliver ambitious, modern and enduring change to the Portsmouth base, securing investment in the local community and ensuring fit-for-purpose, world-leading support for the Royal Navy over the next five years.

As part of the UK Ministry of Defence’s (MOD) Future Maritime Support Programme (FMSP) – covering the management of naval bases in Portsmouth, Clyde and Devonport – the newly formed JV will provide technology-led and data-driven facilities management and dockside services at the base.

“This successful award is testament to the innovative proposition by two world-leading organizations that have a proud history of supporting UK defense,” said Stuart Bradie, KBR President and CEO.

“The strength of this partnership aligns with our ambitions to expand our digital capabilities into the defense sector at all levels, with a focus on efficiency and sustainability to both the MOD and the public.”

KBR continues to expand its naval base support and wider breadth of capabilities into the UK MOD. In February, it announced a key contract to support delivery of a major naval infrastructure program at HM Clyde Naval Base in Scotland. KBR will support the delivery of Management Services, helping extend the design life of key facilities and maintain operations.

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.

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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