KBR — Jul 31, 2025 release

Updated Fiscal Year 2025 Guidance Prior Fiscal Year 2025 Guidance Revenues $7.9B - $8.1B $8.7B - $9.1B Adjusted EBITDA $960M - $980M $950M - $990M Adjusted EPS $3.78 - $3.88 $3.71 - $3.95 Operating cash flows $500M - $550M $500M - $550M The company does not provide reconciliations of Adjusted EBITDA and Adjusted EPS to the most comparable GAAP financial measures on a forward-looking basis because the company is unable to predict with reasonable certainty the ultimate outcome of legal proceedings, unusual gains and losses, and acquisition-related expenses without unreasonable effort, which could be material to the company’s results computed in accordance with GAAP. Updating Fiscal Year 2027 Financial Targets KBR is updating its long-term financial targets for the HomeSafe Alliance JV contract termination. Updated Fiscal Year 2027 Targets Prior Fiscal Year 2027 Targets Revenues $9.0B+ $11.5B+ MTS Revenues CAGR 5% - 8% 11% - 15% STS Revenue CAGR 11% - 15% 11% - 15% Adjusted EBITDA $1.15B+ $1.15B+ Adjusted EBITDA margin 11%+ 10% - 11% MTS Adjusted EBITDA margin 10%+ 9% - 10% STS Adjusted EBITDA margin 20%+ ~20% Operating cash flows $650M+ $700M+ 2024-2027 Cumulative deployable free cash ~$2.0B ~$2.0B CAGR reflects 2023A-2027E. OCF target reflects 27% effective tax rate and interest rates consistent with 2025. Cumulative deployable free cash reflects 2024A-2027E cumulative OCF less capital expenditures of 0.5% to 0.75% of annual revenues. 1 As used throughout this release, book-to-bill excludes long-term UK PFIs, the Plaquemines LNG project, and HomeSafe Alliance JV. Bookings and options exclude long-term UK PFIs, the Plaquemines LNG project, and HomeSafe Alliance JV. 2 As used throughout this earnings release, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted earnings per share, and Operating cash conversion are non-GAAP financial measures. All non-GAAP financial measures reflect results from continuing operations. See additional information at the end of this release regarding non-GAAP financial information, including reconciliations to the nearest GAAP measures