Press Release

HOUSTON – (January 30, 2023) – KBR (NYSE: KBR) announced today the release of Asset Ikigai®, an ISO 55001-certified, next generation asset management framework to help customers maximize the value they can realize from their physical asset portfolios.

Asset Ikigai combines asset management activities, information, programs and strategies into a single data, analytics and process framework. It includes a cloud-based, asset analytics tool that is now available to government and commercial customers worldwide.

KBR developed Asset Ikigai to help its customers transition to next generation asset management (NxAM). NxAM represents a paradigm shift in how asset portfolios are managed, transitioning from a narrow, process-focused, maintenance-centric approach to a multi-disciplinary, interdependent, data-centric, asset-focused approach. Consequently, the Asset Ikigai analytics offering spans the entire asset lifecycle and encompasses maintenance, reliability, capital planning, capital project execution, asset risk management, and energy and sustainability. Because it is vendor agnostic and technology neutral, Asset Ikigai leverages existing customer systems and technologies, including digital tools, such as smart sensors, Internet of Things (IoT), digital twins, artificial intelligence and machine learning.

“For more than 40 years, our customers have trusted KBR to manage billions of dollars of mission-critical assets around the globe,” said Byron Bright, president of KBR Government Solutions U.S. “The Asset Ikigai analytics package provides new insights into asset operation and performance that drive increased mission readiness and optimization of the balance between cost and risk. Our ISO 55001 certification demonstrates our commitment to delivering the best for our customers.”

ISO 55001 is the international standard for asset management systems. Achieving this certification demonstrates KBR’s commitment and leadership in the NxAM space.

KBR has begun implementing the first phase of Asset Ikigai at customer sites in Europe, Africa, and the Middle East, with Asset Ikigai’s full analytical services now available worldwide.

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

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

Jamie DuBray

Vice President, Investor Relations

713-753-5082

[email protected]

Media

Philip Ivy

Vice President, Global Communications and Marketing

713-753-3800

[email protected]