KBR : John Holland-KBR Joint Venture to Continue to Deliver Major Projects for Melbourne Water Under New Delivery Framework

HOUSTON - (May 30, 2018) - John Holland and KBR, Inc. (NYSE: KBR) announced today that their Joint Venture (JH-KBR JV) will continue delivering major water and sewerage projects for another three years after Melbourne Water confirmed it as a member of a new capital delivery framework.

The John Holland-KBR Joint Venture has already successfully delivered for Melbourne Water for the last four years.

'We are excited to continue to deliver innovative and high quality new assets and upgrades with Melbourne Water to ensure communities across Melbourne continue to enjoy high quality water supply and seamless sewerage removal and treatment,' said Jay Ibrahim, KBR President, Europe, Middle East and Africa and Asia-Pacific.

'The opportunity to continue to work with Melbourne Water is a reflection of the quality of our previous water projects and commitment to enhance our culture to one in which safety is woven into our values and how we do work,' said Trevor Hall, John Holland Executive General Manager Vic/SA/Tas & NZ.

A change in the delivery model involves JH-KBR JV working with exclusive delivery partners Interflow Pty Ltd, Delcon Civil Pty Ltd, J.H.L Civil Pty Ltd, Tycon 10 Pty Ltd, Jonoco Pty Ltd, Quality Site Welding Unit Trust, GID Electrical Contracting Pty Ltd, and Zinfra Pty Ltd.

'Our delivery partners have proven experience on water projects and we believe working side by side with them is the best way to deliver forward thinking and best value design and construction solutions,' said Mr Hall.

The framework will be made up of two consortiums who will tender on individual Melbourne Water projects from sewer relining, treatment plant upgrades and water main upgrades.

About John Holland

John Holland is up for the challenge of transforming lives.

From humble beginnings almost 70 years ago, John Holland has been driving positive change in Australia, and is now the nation's leading infrastructure and property company. From Parliament House to the Alice to Darwin Rail Link, from the MCG's Great Southern Stand to Sydney Metro, we've had a hand in the Australia we all know today. We are currently involved in delivering all of Australia's largest infrastructure projects. Whatever we face, the heart of what we do is creating people-centred solutions to complex challenges and opportunities. We think deeply about what we do and how it affects communities. We push boundaries and innovate, gain trust through our actions and whatever the project, we're in it for the long, long term.

About KBR, Inc.

KBR is a global provider of differentiated professional services and technologies across the asset and program lifecycle within the Government Services and Hydrocarbons sectors. KBR employs approximately 34,000 people worldwide (including our joint ventures), with customers in more than 75 countries, and operations in 40 countries, across three synergistic global businesses:

• Government Services, 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, including proprietary technology focused on the monetization of hydrocarbons (especially natural gas and natural gas liquids) in ethylene and petrochemicals; ammonia, nitric acid and fertilizers; oil refining and gasification
• Hydrocarbons Services, 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.

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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 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

Nelson Rowe
Senior Vice President, Investor Relations
713-753-5082
Investors@kbr.com

Media

Brenna Hapes
External Global Communications
713-753-3800
Mediarelations@kbr.com