Slide 1: July 30, 2026
July 30, 2026 Stuart Bradie, President and CEO Shad Evans, Executive VP and CFO Rachael Goldwait, VP of Investor Relations
Slide 2: Forward-Looking Statements
Forward-Looking Statements The statements in this presentation that are not historical statements, including statements regarding our expectations for our future financial performance, effective tax rate, operating cash flows, contract revenues, award activity and backlog, program activity, our busi
Slide 3: Stuart Bradie, President and CEO
Stuart Bradie President and CEO © 2026 KBR, Inc.
Slide 4: Sustainability Embedded in How We Deliver
Sustainability Embedded in How We Deliver NEW Sustainability and Corporate Responsibility Report Scan the QR code to 35% $2.7B view the 2025 report of revenue focused positive on sustainability environmental impact © 2026 KBR, Inc. Delivering Solutions, Changing the World.Ⓡ 4
Slide 5: Key Messages
Key Messages Strong 1H26 execution, Strong visibility across Separation advancing Focused on delivering with revenue and adj. both businesses, on plan, with value creation; guidance EBITDA tracking slightly supported by record STS transaction, leadership reaffirmed with ahead of planned backlog and
Slide 6: Executing the Strategy Through Separation
Executing the Strategy Through Separation THRIVE and EXPAND DELIVER DRIVE DEPLOY in Core Markets and New Technical, Digital, Process Operational Excellence Capital Effectively Geographies Innovation Globally Capture Breakout Growth Create Customer Intimacy Achieve Industry-leading Margins Generate S
Slide 7: Sustainable Tech: Durable Growth with Record Backlog
Sustainable Tech: Durable Growth with Record Backlog Growth Drivers & Business Quality KPIs that Matter • Increasing demand for technology-led solutions QTD book-to-bill Near term pipeline across energy security and food security 1.5x (1.3x TTM) >$6B (ex LNG1) • Diverse geographic mix and repeat bus
Slide 8: Mission Tech: Strong Visibility Supported by Differentiated Capabilities
Mission Tech: Strong Visibility Supported by Differentiated Capabilities Growth Drivers & Differentiators KPIs that Matter • Mission-critical solutions aligned to enduring QTD book-to-bill1 national security and space priorities 0.8x (1.0x TTM) $10.4B Awaiting award • Technology-enabled offerings ex
Slide 9: Brand Reveal
Brand Reveal © 2026 KBR, Inc. Delivering Solutions, Changing the World.Ⓡ 9
Slide 10: Separation Advancing Toward Day 1 Readiness
Separation Advancing Toward Day 1 Readiness • Transaction workstreams substantially advanced; focus shifting to Day 1 operational readiness • Regulatory milestones on track: IRS ruling in fast-track review; Form 10 public filing expected before Q3 earnings • Separation readiness advancing: IT, contr
Slide 11: Shad Evans, Executive VP and CFO
Shad Evans Executive VP and CFO © 2026 KBR, Inc.
Slide 12: 2Q'26 Results: Profitable Growth Drives Margin Expansion
2Q’26 Results: Profitable Growth Drives Margin Expansion Revenues Adj. EBITDA1 Adj. EPS1 YTD Adj. OCF1 +32M / +91M2 +16M +0.08 -125M $1,893 excl. EUCOM contingency 12.4% 13.0% • Growth reflects continued • Strong project execution, • Growth reflects strong • Cash flow reflects strong ramp-up on rece
Slide 13: Segment Performance Supports Full-Year Outlook
Segment Performance Supports Full-Year Outlook Sustainable Tech Mission Tech Revenues Adj. EBITDA1 Revenues Adj. EBITDA1 +60M -11M -28M / +31M3 +22M $1,277 excl. EUCOM contingency 21.8% 18.2% 10.2% 12.1% 15.8% 13.0% Excl. LNG2 Excl. LNG2 • 10% growth reflects execution of • Margin reflects project e
Slide 14: Disciplined Capital Allocation Supports Separation Readiness
Disciplined Capital Allocation Supports Separation Readiness Liquidity and Leverage Balanced Capital Allocation Priorities Net debt 2,258 TTM Adj. EBITDA1 987 Strategic M&A Prudent Leverage Net debt / TTM Adj. EBITDA1 2.3x Disciplined approach to Maintain leverage at 2.5x or Cash Flow YTD accretive,
Slide 15: Reaffirming FY 2026 Guidance
Reaffirming FY 2026 Guidance FY 2026 Guidance Financial Modeling Assumptions • Capex: ~$40M - $50M Revenues $7.90B - $8.36B • Effective tax rate: 26% - 28% • Depreciation & amortization: ~$165M (includes ~$45M purchased intangibles amortization) Adj. EBITDA1 $980M - $1,040M • Adjusted diluted share
Slide 16: Key Takeaways
Key Takeaways Delivered strong Entering the second half Advancing separation Positioning New KBR execution in the first with strong visibility, readiness and building and Trinzic as focused, half and maintaining supported by backlog confidence in both differentiated momentum across both and recently
Slide 17: Q&A
Q&A © 2026 KBR, Inc.
Slide 18: KBR Investment Thesis
KBR Investment Thesis Multi-year transformation into a leading provider of differentiated, innovative, up-market 1 science, technology, and engineering solutions with large scale, global reach Serving diverse, attractive end markets aligned with secular growth trends including global 2 security, sus
Slide 19: Appendix
er e Appendix © 2026 KBR, Inc.
Slide 20: Investor Days - Save the Dates
Investor Days - Save the Dates New KBR Investor Day Trinzic Investor Day November 11, 2026 November 12, 2026 9AM EST 9AM EST Location: Conrad New York Downtown Location: Conrad New York Downtown Additional details to follow. © 2026 KBR, Inc. Delivering Solutions, Changing the World.Ⓡ 20
Slide 21: Spin-Off Value Proposition
Spin-Off Value Proposition Overview Benefits Structure • Transaction intended to be tax-free Strategic • Enhanced strategic & management focus • Increased end market focus • Enhanced organizational agility, accountability and Timing • Expected to close on January 4, 2027 (first business Operational
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted EBITDA - KBR Consolidated 2Q'25 2Q'26 YTD 2025 YTD 2026 Net income attributable to KBR $73 $96 $189 $198 Net (income) loss from discontinued operations, net of tax 48 (2) 54 — Net (loss) income attributable to noncontrolling interest included in (16) 1 (18) — discont
Slide 23: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted EBITDA - Segment 2Q'25 2Q'26 YTD 2025 YTD 2026 Operating income - MTS $108 $116 $221 $227 Net loss attributable to noncontrolling interests included in continuing operations 1 — 1 — Depreciation and amortization 27 24 53 49 Spin-off, acquisition and restructuring — 1
Slide 24: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted EBITDA - Segment 2Q'25 2Q'26 YTD 2025 YTD 2026 Operating income - Corporate $(39) $(47) $(77) $(91) Depreciation and amortization 7 7 13 13 Spin-off, acquisition and restructuring 4 17 10 31 Adjusted EBITDA - Corporate $(28) $(23) $(54) $(47) Operating income - KBR $
Slide 25: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted EPS 2Q'25 2Q'26 YTD 2025 YTD 2026 Diluted EPS attributable to KBR $0.56 $0.75 $1.44 $1.55 Diluted earnings (loss) per share from discontinued operations (0.25) 0.01 (0.27) — Diluted EPS from continuing operations $0.81 $0.74 $1.71 $1.55 Adjustments: Amortization rela
Slide 26: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Operating Cash Flows & Conversion 2Q'25 2Q'26 YTD 2025 YTD 2026 Cash flows provided by operating activities from continuing operations $217 $50 $308 $160 Adjust: Spin-off transaction costs — 14 — 23 Adjusted operating cash flows $217 $64 $308 $183 Adjusted operating
Slide 27: Supplemental Reconciliation
Supplemental Reconciliation Reconciliation of Adjusted EBITDA to Adjusted EPS 2Q’25 2Q’26 YTD 2025 YTD 2026 Adjusted EBITDA $242 $258 $490 $509 Interest expense (41) (35) (82) (72) Other non-operating income (expense) (8) (2) (5) (2) Provision for income taxes (39) (38) (82) (78) Depreciation and am