KBR Awarded Multiple Contracts for Major Australian Civil Infrastructure Projects

HOUSTON, TX--(Marketwired - August 17, 2016) - KBR, Inc. (NYSE: KBR) announced today it has won multiple contracts to provide services that include design management, project management, and procurement for several major civil infrastructure projects in Australia.

• KBR was awarded a contract by Gateway South, a Joint Venture of Fulton Hogan and Laing O'Rourke, to deliver engineering and design services as part of a design team for the Darlington Upgrade Project in Adelaide, South Australia, which forms part of the major upgrade of Adelaide's North-South Road Corridor, one of the city's largest and most important transport routes. KBR will provide detailed design services for the upgrade of 3.3 kilometers of existing urban arterial road to deliver a lowered motorway to bypass five major signalized intersections, ten new bridges, and infrastructure for a significant intelligent transport system. Work is expected to be completed by the end of 2018. The contract value was not disclosed. Estimated revenue from the contract will be booked into backlog of unfilled orders for KBR's Engineering & Construction (E&C) business segment in Q3 of 2016.
  
  
• KBR will also provide professional services as part of the John Holland Managing Contractor team for early works on the Metro Tunnel project in Victoria, Australia, one of the largest public transport projects in Victoria's history. The early works package includes the excavation of two significant shafts in Melbourne's central business district in preparation for the nine-kilometer twin rail tunnels and five new underground stations. It also includes the extensive relocation and protection of utility services, including gas, power, sewerage and telecommunications, as well as tram infrastructure works. The contract value was not disclosed. Revenue associated with this project will be booked into backlog of unfilled orders for KBR's E&C business segment in Q3 of 2016.
  
  
• KBR was awarded a two year extension by the South Australia Water Corporation (SA Water) for a contract for project management and procurement (PMP) services for capital works projects in the Adelaide metropolitan area, one of the largest government contracts for project and program management services in South Australia. Under the terms, KBR will continue to provide project management, procurement, engineering management and construction management as part of an integrated management team with SA Water for a minimum of two additional years beginning July 1, 2016. The contract value was not disclosed. Expected revenue from the contract will be included in Q3 2016 backlog of KBR's unfilled orders for its E&C business segment.

"We are pleased to be involved in these significant infrastructure projects that are strategically important to Australia's future growth plans," said Greg Conlon President, Engineering and Construction, Asia Pacific. "These wins build on KBR's strong portfolio of Australian infrastructure projects and reflect our long-term commitment to supporting customers in the Asia Pacific region as well as clearly demonstrate that no matter how complex or demanding the project, KBR can be relied on to deliver industry-leading infrastructure services that safeguard our customers' valuable assets," continued Conlon.

About KBR, Inc.

KBR, Inc. is a global technology, engineering, procurement and construction company serving the hydrocarbons and government services industries, employing approximately 25,800 people worldwide with customers in more than 80 countries and operations in 40 countries across three distinct global businesses:

• Technology & Consulting, including proprietary technology in refining, ethylene, ammonia and fertilizers, and gasification; and niche consulting and know-how through subsidiaries Granherne, Energo and GVA
• Engineering & Construction, including Offshore Oil & Gas; Onshore Oil & Gas; LNG/GTL; Refining; Petrochemicals; Chemicals; differentiated EPC, and Industrial Services
• Government Services, incorporating KBRwyle, includes capabilities that span the full spectrum of government mission requirements including research and development, testing, engineering, logistics, deployed operations, and life-cycle sustainment.

KBR is proud to work with its customers across the globe to provide technology, value-added consulting services, integrated EPC delivery and Long Term Industrial Services to ensure consistent project delivery with predictable results. At KBR, we deliver.
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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 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.