Press Release

Wire Release

_HOUSTON Ð December 17, 2018 Ð KBR, Inc. (NYSE: KBR) announced today that it has developed a new Propane Dehydrogenation (PDH) technology (K-PROTM) that offers high propylene selectivity and conversion. This technology is based on KBR's catalytic olefins technology (K-COTTM) which is a commercially proven fluidized-bed technology for converting low-value olefinic, paraffinic or mixed streams into high-value propylene and ethylene.

K-PROTM delivers significant capital cost and operating cost advantages when compared with conventional designs. This arises from its fluidized-bed design which delivers reliable operation and high on-stream factors when compared with fixed or moving bed reactors.

K-PROTM technology combines the know-how and experience of K-COTTM with a novel high selectivity, low-cost, dehydrogenation catalyst that does not require precious metals. Plants based on this new technology will be designed as stand-alone propylene production units independent of a steam cracker or a FCC unit. Additionally, existing PDH operating units can be easily modified to benefit from the superior process performance and lower operating cost.

"K-PROTM is a further evolution and extension of KBR's pioneering work in catalytic cracking process technology," said John Derbyshire, KBR President, Technology. "The CAPEX savings for K-PROTM over other commercially available technologies is in the range 20-30% based on our internal studies. In addition the FCC-based design will deliver higher on-stream factors and much better energy efficiency when compared with existing designs. Our clients have every reason to be excited about this newest addition to our olefins technology portfolio."

KBR has over 70 years of experience in olefins plant design and construction. KBR's K-COTTM technology is extremely flexible in terms of feed and products and its versatility can enhance economic performance of steam crackers in a number of ways KBR's SCORETM is a versatile, high yield and low CAPEX steam cracking technology which can be designed for feedstock ranging from ethane to heavy gas oils. With the addition of new PDH technology to its offerings, KBR is positioned better than ever to address all its clients' needs for olefin technology solutions.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:Government Services, serving government customers globally, including capabilities that cover the full lifecycle 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, 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 and gasificationHydrocarbons Services, 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); program management and consulting services

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