Press Release

KBR will provide system acquisition support and reliability improvements for Army’s only heavy-lift cargo helicopter and other Army aircraft

HOUSTON – (Dec. 16, 2020) – KBR (NYSE: KBR) won a $49 million recompete to provide system acquisition support and reliability improvements on the CH-47 Chinook Helicopter and other select aircraft for the Cargo Helicopter Project Management Office (PMO) within the U.S. Army's Program Executive Office (PEO) Aviation.

KBR received this cost-plus-fixed-fee task order via the Department of Defense Information Analysis Center's (DoD IAC) multiple-award contract vehicle. This DoD IAC MAC task order was awarded by the U.S. Air Force's 774th Enterprise Sourcing Squadron to develop and create new knowledge for the enhancement of the Defense Technical Information Center (DTIC) repository and the research and development (R&D) and science and technology (S&T) communities. KBR has supported the mission of the DoD research and development community through various predecessor DoD IAC contracts since 2005.

KBR will provide research, development, testing, studies, analysis and recommendations to the Army project offices and their international partners. This work will increase availability, improve reliability and reduce life cycle support costs for the service’s CH-47.

The CH-47 is the service’s only heavy-lift cargo helicopter supporting combat and other critical operations. KBR will execute this contract over the next five years primarily in Huntsville, Alabama.

Earlier this year, KBR won another award to deliver high-end technical services to PEO Aviation. The company secured a $41 million recompete to develop recommendations to enhance airborne intelligence operations for the Fixed Wing Project Office.

Under this task order, KBR works with the Army to collect intelligence as well as plan, coordinate and execute missions. KBR also helps optimize the use of special electronic mission aircraft, transport aircraft, and Future Vertical Lift systems—a family of vertical lift systems that will deliver next generation capabilities.

Both opportunities allow KBR to assist the Army in meeting current and future technology needs.

“These wins are a product of KBR’s decades of expertise in systems engineering and innovative warfighter solutions for manned and unmanned aircraft," said Byron Bright, KBR President, Government Solutions. “We take great pride in aiding the U.S. military with our mission-critical services.”

KBR currently supports more than 25 Navy, Army and Air Force aviation platforms and continues to drive innovation by combining engineering, technical and scientific expertise with full life cycle capabilities, mission knowledge and future-focused technologies. KBR is engineering solutions for the needs of today and tomorrow, safely and efficiently.

About DoD IAC Program

The DoD IAC, sponsored by DTIC, provides technical data management and research support for DoD and federal government users. Established in 1946, the IAC program serves the DoD 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

KBR is a global provider of differentiated professional services and solutions across the asset and program life cycle within the government and technology sectors. KBR employs approximately 28,000 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
[email protected]

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