Press Release

HOUSTON - March 24, 2022 – KBR (NYSE: KBR) and ExxonMobil Catalysts and Licensing LLC (“ExxonMobil”) will collaborate to bring significant advancements to propane dehydrogenation (PDH) technology.

Under the collaboration, ExxonMobil's new proprietary catalyst technology will be combined with KBR's proprietary K-PRO℠ Propane Dehydrogenation (PDH) technology to convert propane into propylene. Enabled by the superior performance of ExxonMobil's new catalyst, the combined technology solution could offer financial savings compared to PDH technologies currently available.

"The collaboration with ExxonMobil is exciting not only for new K-PRO customers but also for existing K-PRO licensees who could have the potential to increase capacity and reduce operating expenses by upgrading to the new catalyst," said Doug Kelly, KBR President, Technology. “This joint technology offering, which is anticipated to feature substantially reduced energy consumption, adds to KBR’s growing portfolio of sustainable solutions.”

"KBR's K-PRO technology and our next generation catalyst are a great fit and our collaboration with KBR will significantly help to reduce time to commercialize our next generation catalyst for PDH," said James Ritchie, President of ExxonMobil Catalysts and Licensing LLC.

This cooperation brings together over 50 years of both ExxonMobil’s innovative leadership in the development of specialty catalysts and KBR’s leadership in technology development, plant design and construction.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 28,000 people performing diverse, complex and mission critical roles in 34 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

About ExxonMobil Catalysts and Licensing LLC

ExxonMobil’s cutting-edge proprietary catalysts, gas treating solvents and advantaged process technologies help refineries, petrochemical manufacturers and gas processors increase capacity, lower costs, improve margins, reduce emissions and operate safe, reliable and efficient facilities. Ready for better results across your refining, gas and chemical needs? View our video.

About ExxonMobil Chemical

ExxonMobil Chemical is one of the largest chemical companies in the world. The company holds leadership positions in some of the largest-volume and highest-growth commodity chemical products. ExxonMobil Chemical has manufacturing capacity in every major region of the world, serving large and growing markets. More than 90 percent of the company’s chemical capacity is integrated with ExxonMobil refineries or natural gas processing plants. To learn more, visit www.exxonmobilchemical.com. Follow us on Twitter and LinkedIn.

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 and the company’s ability to respond to the resulting challenges and business disruption; the recent dislocation of the global energy market; the company’s ability to manage its liquidity; 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; 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; the possibility of cyber and malware attacks; 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.

The company’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 the company has identified that may affect its business, results of operations and financial condition. Except as required by law, the company 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
[email protected]

Media
Philip Ivy
Vice President, Global Communications and Marketing
713-753-3800
[email protected]