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KBR Awarded FEED for Heavy Oil Program by Kuwait Oil Company

1. KBR will provide FEED services to Kuwait Oil Company for heavy oil program. 2. The project supports KOC's commitment to energy affordability and national prosperity. 3. KBR's expertise positions it as a preferred choice among global energy providers. 4. The project aims to enhance Kuwait's energy security and operational excellence. 5. KBR celebrates over 100 years of delivering value-added solutions globally.

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Why Bullish?

Winning a significant contract with KOC enhances KBR’s revenue potential and credibility. Historically, similar contract wins have positively influenced stock performance.

How important is it?

The announcement demonstrates KBR’s strong positioning and ongoing relevance in the energy sector. High-profile contracts can drive investor confidence and interest.

Why Long Term?

The project aligns with KOC’s long-term strategy, ensuring sustained revenue. Past contracts in the energy sector typically yield extended periods of income growth.

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KOC
HOUSTON, July 29, 2025 (GLOBE NEWSWIRE) -- KBR (NYSE: KBR) announced today it will provide front-end engineering design (FEED) services to Kuwait Oil Company (KOC) for Phase 1 of its heavy oil program for the South Ratqa field. Under the terms of the contract, KBR will provide FEED and associated services for the project, which is part of KOC’s Heavy Oil Program. This project aligns with KOC’s long-term strategy and reinforces its commitment to energy affordability, national prosperity, and a sustainable future for Kuwait. KBR is proud to support this vision by providing innovative solutions and technical expertise that will help drive operational excellence. “We are honored by KOC’s longstanding trust in KBR and are committed to support this strategic project that aims to transform the future of Kuwait’s energy security,” said Jay Ibrahim, President, KBR Sustainable Technology Solutions. “KBR’s FEED and project management capabilities have made us the preferred choice of leading global energy providers, and we continue to deliver services designed to meet the dynamic market requirements.” For more than 100 years, KBR has provided holistic and value-added solutions across the entire asset life cycle. Our leading experts have helped design and deliver world-class oil and gas plants across the globe.  About KBRWe deliver science, technology and engineering solutions to governments and companies around the world. KBR employs approximately 38,000 people worldwide with customers in more than 80 countries and operations in over 29 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 Statements The statements in this press release that are not historical statements, including statements regarding project outcomes and future demand for and adaptability of the company’s services in changing markets, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks, uncertainties and assumptions, 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, uncertainties and assumptions include, but are not limited to, those set forth in the company’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, which discuss some of the important risks, uncertainties and assumptions that the company has identified that may affect its business, results of operations and financial condition. Due to such risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Except as required by law, the company undertakes no obligation to revise or update publicly any forward-looking statements for any reason. For further information, please contact: InvestorsJamie DuBrayVice President, Investor Relations713-753-5082Investors@kbr.com MediaPhilip IvyVice President, Global Communications and Marketing 713-753-3800MediaRelations@kbr.com

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