Kbr, Inc. · NYSE:KBR
Kbr — Merger or Acquisition (September 2025)
15 slides from Kbr's merger presentation, Sep 24, 2025
Slide 1: KBR Announces Strategic Intent to Spin Off Mission Technology Solutions
KBR Announces Strategic Intent to Spin Off Mission Technology Solutions September 24, 2025 © 2025 KBR, Inc.
Slide 2: Forward-Looking Statements
Forward-Looking Statements Forward-Looking Statements Certain statements contained in this presentation constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact, including sta
Slide 3: KBR Announces Strategic Intent to Spin Off Mission Technology Solutions
KBR Announces Strategic Intent to Spin Off Mission Technology Solutions 1 2 3 4 Culmination of Will result in two Both companies Transaction decade-long independent, expected to benefit intended to be portfolio pure play public from enhanced tax-free to KBR and transformation to companies better str
Slide 4: Pivotal Step Following Decade-Long Portfolio Transformation
Pivotal Step Following Decade-Long Portfolio Transformation… 2015: 2020: Going Forward: MTS Portfolio STS Portfolio Spin-off to Create Two Leading Transformation Transformation Independent, Pure Play Public Companies Revenues: $5.1B Revenues: $5.8B Revenues: $8.0B MTS 6% 13% 26% TTM Q2’25 Revenues:
Slide 5: Unlocking the Next Phase of Value Creation with Clear Strategic, Operational, and Financial Benefits
…Unlocking the Next Phase of Value Creation with Clear Strategic, Operational, and Financial Benefits Strategic Operational Financial • Enhanced strategic and • Enhanced organizational • Greater capital allocation management focus with agility, accountability and flexibility to support greater align
Slide 6: Creating Two Independent, Pure Play Public Companies
Creating Two Independent, Pure Play Public Companies New KBR (comprising STS) SpinCo (comprising MTS) $2.2B ~22% $3.7B $5.8B ~10% $17.8B TTM Q2’25 TTM Q2’25 Q2’25 TTM Q2’25 TTM Q2’25 Q2’25 Revenues Adj. EBITDA Backlog Revenues Adj. EBITDA Backlog & Margin1 Margin1 Options • Differentiated up-market,
Slide 7: New KBR (STS) – Overview
New KBR (STS) – Overview Transformation complete, creating scaled leader with diverse portfolio of energy and critical infrastructure enablement capabilities and technologies and attractive margin profile Investment Highlights Business Overview • Highly trusted, IP-protected global capabilities with
Slide 8: New KBR (STS) – Capabilities
New KBR (STS) – Capabilities Delivering programs across the full lifecycle and bringing sustainable technology solutions to our customers globally Sustainable Solutions Sustainable Technologies Selected Customers Strategic Planning & Advisory Concept & Feasibility Studies Design & Engineering
Slide 9: SpinCo (MTS) – Overview
SpinCo (MTS) – Overview Scaled leader in mission-critical solutions for global government customers with deep domain expertise Investment Highlights Business Overview • Scaled, highly trusted, pure play government services ~10% provider for global customers $5.8B $571M TTM Q2’25 TTM Q2’25 Revenues T
Slide 10: SpinCo (MTS) – Capabilities
SpinCo (MTS) – Capabilities Portfolio aligned to high demand national security, space and defense priorities with growing budgets Defense & Intel Science & Space Readiness & Sustainment Selected Customers National Security Space Mission IT Base Operations and Global Connected Battlespace H
Slide 11: Related Executive Leadership Updates
Related Executive Leadership Updates In connection with the decision to form two independent, publicly traded companies, KBR is announcing the following executive leadership updates: • Post-spin, Stuart Bradie will serve as New KBR Chair, President and CEO The Board of Directors has engaged a • Mark
Slide 12: Transaction Overview and Summary
Transaction Overview and Summary • Transaction intended to be tax-free to KBR and its shareholders for Culmination of Structure U.S. federal income tax purposes Decade-long Transformation • Expected to close mid-to-late 2026; subject to final approval Timing by KBR’s Board of Directors and other cus
Slide 13: Appendix
Appendix © 2025 KBR, Inc.
Slide 14: Non-GAAP Reconciliation: Adjusted EBITDA - KBR
NON-GAAP RECONCILIATION Adjusted EBITDA - KBR FY 2015 TTM Q2’25 Net income attributable to KBR $203 $365 Net (income) loss from discontinued operations, net of tax — 53 Net (loss) income attributable to noncontrolling interest included in discontinued operations — (18) Net income attributable to KBR
Slide 15: Non-GAAP Reconciliation: Adjusted EBITDA - Segment
NON-GAAP RECONCILIATION Adjusted EBITDA - Segment TTM Q2’25 Operating income - MTS $427 Net loss attributable to noncontrolling interests included in continuing operations — Depreciation and amortization 113 Acquisition, integration and other 5 Legacy legal fees and settlements 26 Adjusted EBITDA -