Press Release

Wire Release_

HOUSTON - October 30, 2017 Ð KBR, Inc. (NYSE: KBR) announced today it has entered into an Engineering Agreement for the Residue Hydroprocessing unit at the Jordan Petroleum Refinery (JPRC) Expansion Project. This award follows an earlier decision for KBR as selected licensor for its proprietary Veba Combi Cracking (VCC) technology.

KBR will provide the basic design package for the unit using its proprietary VCC slurry phase hydrocracking technology. This unique technology is capable of processing a wide range of feedstocks and enables production of fuels that meet environmental specifications without further upgrading.

"JPRC selected VCC technology among several alternative processes for the conversion of the bottom of the barrel in its forthcoming expansion project," said Abdel Karim Alawin, JPRC CEO. "JPRC was looking for a feasible process that yields clean products with minimum negative environmental impact."

"Thorough and careful evaluation led to the selection of VCC technology which we think will be the technology of choice for future residue conversion projects," Alawin said. "We certainly look forward to working with KBR to get this project on stream."

The VCC technology will be implemented at JPRC's refinery in Jordan and will be the core of the refinery's expansion plans to increase production to 120,000 barrels per day.

"KBR is committed to the success of JPRC's 4th Refinery Expansion," said John Derbyshire, President, KBR Technology and Consulting. "We are excited to implement our unique VCC Technology and contribute to the success of this important and prestigious project."

"With its recent implementation in Russia and China, VCC technology has emerged as the most successful slurry phase hydrocracking technology to reliably produce high quality finished products from heavy feeds," Derbyshire continued.

KBR's portfolio of refining technologies enables refiners to process a wide variety of crudes, including heavy opportunity crudes, while retaining the flexibility to adjust the fuel mix and quality to meet ever changing market demands. KBR's experience as a technology developer and licensor, along with comprehensive studies and proven project delivery capabilities, has resulted in KBR licensing, designing or constructing more than 60 greenfield refineries and well over 1,000 refining units of every type and size around the world.

Revenue associated with this project will be booked into backlog of unfilled orders for KBR's Technology and Consulting Business Segment in the fourth quarter of 2017.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program life cycle within the Government Services and Hydrocarbons sectors. KBR employs over 34,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:Government Services, serving government customers globally, including capabilities that cover the full life-cycle 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 logisticsTechnology & Consulting, 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; gasification; oil and gas consulting; integrity management; naval architecture and proprietary hulls; and downstream consultingEngineering & Construction, 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) and program management

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. 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 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 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
Nelson Rowe
Senior Vice President, Investor Relations
713-753-5082
[email protected]

Media
Brenna Hapes
External Global Communications
713-753-3800
[email protected]