KBR Lands Seat on $6.4B Air Force Contract for Global Contingency and Humanitarian Support

HOUSTON, April 15, 2020 /PRNewswire/ -- KBR (NYSE: KBR) announced today it has been awarded an indefinite-delivery, indefinite-quantity (IDIQ) contract by the U.S. Air Force for worldwide contingency and humanitarian support. This Air Force Contract Augmentation Program V (AFCAP V) contract has a maximum ceiling of $6.4 billion.

Under this multiple-award contract, KBR will have the opportunity to compete on task orders to provide a full range of support for the U.S. government. These services could include assisting with contingency planning, deploying, training and equipping of U.S. military forces; emergency and contingency construction; and logistics and commodities.

KBR may perform these tasks in locations around the world. The contract's period of performance is eight years. KBR has held a seat on predecessor contracts, AFCAP III and IV, since 2005.

"When the U.S. government faces unexpected circumstances, KBR has the ability to quickly and adeptly meet challenges head-on anywhere in the world," said Byron Bright, KBR President, Government Solutions U.S. "We are honored to serve the Air Force through this contract – no matter how demanding the environment might be."

KBR has provided critical services under previous AFCAP contracts. This includes recovery efforts at Tyndall Air Force Base after Hurricane Michael devastated it in 2018.

KBR's international footprint, robust supply chain and military readiness expertise enables the company to rapidly mobilize and respond to customers' urgent needs. Known for excelling in complex and extreme environments, KBR is trusted to overcome the nation's most pressing challenges. KBR is engineering solutions for the needs of today and tomorrow, safely and efficiently.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Solutions and Energy sectors. KBR employs approximately 38,000 people worldwide (including our joint ventures), with customers in more than 80 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Solutions, 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 logistics
• Technology Solutions, featuring proprietary technology, equipment, catalysts, digital solutions and related technical services for the monetization of hydrocarbons, including refining, petrochemicals, ammonia and specialty chemicals, as well as inorganics
• Energy Solutions, 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.

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SOURCE KBR, Inc.