Press Release

HOUSTON – April 7, 2022 – KBR (NYSE: KBR) announced today it has won an ammonia technology contract from DL E&C for NeuRizer’s (formerly Leigh Creek Energy Ltd) carbon-neutral fertilizer project in Australia.

Under the terms of the contract, KBR will provide technology licensing and engineering for the 1,600 MTPD ammonia plant based on KBR’s highly efficient Purifier® process. This is the first fully integrated urea production facility in the world leveraging an innovative configuration for in-situ syngas production, gas processing, ammonia and urea manufacturing and carbon geo-sequestration.

“We are excited to provide our energy-efficient ammonia technology to DL E&C for NeuRizer’s flagship carbon-neutral project for the local and export agriculture markets,” said Doug Kelly, KBR President, Technology. “This project reaffirms our commitment to continuing to explore novel ways to help our clients meet their business and sustainability targets.”

KBR is a world leader in ammonia technology and has been at the forefront of innovation in the ammonia market for decades.

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 DL E&C

Daelim Industrial, a global leader in the construction and petrochemical industry in Korea since 1939, evolved its brand to DL to mark a new beginning under the holding company system. DL Group plans to complete the transparent and independent governance system under a holding company structure in which DL Holdings will control Engineering and Construction subsidiaries through DL E&C, Petrochemical subsidiaries through DL Chemical, and Other subsidiaries such as DL Energy, etc.

Since its first overseas project in Vietnam in 1966, the construction division successfully completed various construction, civil engineering, and plant projects in more than 40 countries worldwide. It has been recognized for its technical leadership and strong competitiveness in the global market. In the case of plant division, DL E&C has expanded its global presence based on its technical expertise in oil and gas, oil refining, and petrochemical and power plant industries. DL E&C’s achievements have earned recognition as a leading Global EPC Contractor.

About NRZ

NeuRizer (NRZ) is the company responsible for progressing the NeuRizer Urea Project (NRUP). NRUP is a nationally significant project that will deliver low-cost, high-quality nitrogen-based fertiliser ensuring a secure supply for local and export agriculture markets. Located in South Australia, 550 kilometres north of Adelaide, the NRUP will initially produce 1Mtpa of urea fertiliser with potential to increase to 2Mtpa.

NRZ is a certified carbon neutral organisation having been awarded Climate Active certification in March 2022 and is a signatory to the United Nations Global Compact.  The NRUP is carbon neutral by design, and the decarbonisation pathway for the NRUP is embedded in the Front-End Engineering and Design (FEED) process to ensure that the NRUP achieves zero carbon operations from first operations in 2025.

The NRUP will significantly increase Australia’s sovereign manufacturing capability for fertiliser supporting Australian agricultural food production.  The NRUP will strengthen supply chain resilience that will benefit Australian farmers and, to a lesser extent, the industrial sector where urea is used as a supply input (eg. diesel additive (AdBlue), industrial resins, etc.) by reducing the nation’s reliance on imports.

The NRUP will be one of the biggest infrastructure projects of its type in Australia, providing long term economic development and employment opportunities (2,250+ construction jobs plus 1,200+ ongoing positions) for the communities of the Upper Spencer Gulf region, northern Flinders Ranges and South Australia.

The NRUP will be the only fully integrated urea production facility in Australia, with all inputs (gas, power and CO2) for low carbon urea production on-site, meaning NRZ will control both supply and price of these major cost inputs, regardless of prevailing market conditions and supply chain dynamics.

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]