Press Release

KBR will deploy, develop and operate the Space Weather Follow-On Antenna Network. This work will contribute to accurate space weather forecasts.

HOUSTON – (May 13, 2021) – KBR (NYSE: KBR) won a new $51.2 million contract from the National Oceanic and Atmospheric Administration (NOAA) to deploy, develop and operate the agency’s Space Weather Follow-On (SWFO) Antenna Network. KBR’s work will contribute to accurate forecasts of space weather, protecting lives and livelihood around the planet.

Under this contract, KBR will build and maintain an antenna network that sends and receives continuous mission data from the SWFO-Lagrange 1 (SWFO-L1) observatory and its ground segment. KBR’s network will perform telemetry, command and ranging services for the observatory’s operations.

SWFO-L1 is a future spacecraft mission planned to monitor signs of solar storms, which may pose harm to Earth's telecommunication network. It will be placed at the first Sun-Earth Lagrange point (L1) in late 2024 to provide critical images and data to the National Weather Service’s Space Weather Prediction Center for alerts and forecasting.

Space weather impacts many aspects of everyday life, from where airplanes can safely fly, to how accurately a farmer plows his field. Without timely and accurate watches and warnings, space weather events can disrupt virtually every major public infrastructure system, including transportation systems, power grids, and the Global Positioning System.

“Accurate space weather data helps protect national security and our economic well-being. This new contract with NOAA aligns with our sustainability principles and gives us another opportunity to use our scientific and technological expertise to build a better world,” said Byron Bright, KBR Global Government Solutions President.

The cost-plus-fixed-fee, five-year contract has a total value of $51.2 million if all options are exercised. KBR will perform the work at its facilities in Fulton, Maryland as well as the NOAA Satellite Operations Facility in Suitland, Maryland and NOAA facilities in Wallops, Virginia, and Fairmont, West Virginia.

For more than 30 years, KBR has worked with government agencies, such as NOAA, U.S. Geological Survey and NASA, to fortify their Earth science and data visualization 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.

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]