Press Release

HOUSTON, Oct. 26, 2020 - KBR (NYSE: KBR) was awarded an $88 million task order to provide sustainment engineering for the F-16 Fighting Falcon – a proven, highly maneuverable multi-role fighter aircraft for the U.S. and allied nations – in support of the Air Force Life Cycle Management Center (AFLCMC). KBR will also provide support to the A-10 Thunderbolt II and T-38 Talon aircraft. This work is expected to be performed over a five-year period in Clearfield, Utah.

KBR will help advance the operational safety, suitability and effectiveness of these aircraft. The company will analyze and make recommendations related to reliability, maintainability, quality, supportability and interoperability; air worthiness; life cycle management; failure testing; and diminishing manufacturing sourcing issues. This work includes conducting research and development related to flaw detection and corrosion resistance for AFLCMC's Defense Systems Life Cycle Management Center.

KBR is tasked to collect, compile and analyze data to identify and prioritize deficient, aging components; develop test systems and analytical tools; perform obsolescence and diminishing source analysis and non-destructive inspection analysis; and other engineering tasks that positively impact the warfighter's ability to safely and effectively execute the mission.

"We are excited for the opportunity to grow with the F-16 program and continue our wide-ranging partnership with the U.S. Air Force," said Byron Bright, KBR Government Solutions President. "This win is another example of our commitment to keep aircraft mission ready for men and women in uniform. We are the team behind the warriors who fly, fight and win."

This is the fourth straight task order KBR has won supporting the F-16 System Program Office. The USAF Installation Contracting Center awarded KBR this cost-plus, fixed fee task order under the Department of Defense Information Analysis Center's (DoD IAC) multiple-award contract. 

KBR is one of the leading systems engineering and integration providers to the U.S. military. The company's domain expertise spans more than 40 years. KBR currently supports more than 25 Navy, Army and Air Force platforms, including the B-1, E-2, F/A-18, F-15, F-35 and H-60, and various unmanned aerial systems. Whether on land, at sea, in the air, space, or cyberspace, KBR is engineering solutions for the needs of today and tomorrow.

About the DoD IAC program

The DoD IAC program operates as a part of the Defense Technical Information Center and provides technical data management and research support for DoD and federal government users. Established in the 1940s, the IAC program serves the DoD science & technology (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]