Press Release

HOUSTON – (January 27, 2021) – KBR (NYSE: KBR) announced today that it has been awarded a study by Keppel Data Centres to assess scenarios for alternative hydrogen-based energy sources to supply new data center investment and deployment in Singapore.

Through our Technology Solutions business, KBR will leverage its global energy transition experience to assess sustainable technology solutions for producing low to nil carbon hydrogen sources of energy. The study will compliment work by Keppel Data Centres, a leading developer and operator of data centers across Asia Pacific and Europe, as well as Royal Vopak, a world leading independent tank storage company.

KBR, Keppel Data Centres and Royal Vopak are strongly committed to environmentally sustainable business practices, reducing carbon footprint, and developing and implementing solutions for an increasing demand for cloud based, centralized data services.

“This study is an exciting opportunity for KBR as we help create a more innovative, sustainable future through the global energy transition initiative,” said Jay Ibrahim, KBR President, Technology Solutions. “Our experts are leading the way and our recent work with the Prime Minister’s Office of Singapore, providing a road map for their energy transition through to 2050 and specifically a Hydrogen Economy, combined with this study brings Singapore another step closer to achieving net zero carbon emissions. Our commitment to sustainability is evident by the relationships we forge in the communities in which we operate, and this contract reaffirms that pledge.”

KBR has been intimately involved in Singapore’s drive to achieve net zero carbon emissions at a government advisory level. This project will be supported by KBR’s wider Strategic and Advisory Consulting group which includes experts in the hydrogen, energy efficiency, decarbonization and process optimization fields.

About KBR

We deliver science, technology and engineering solutions to governments and companies around the world. 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]