Slide 1: Investor Presentation June 2017
Slide 2: Forward-looking statements
Lexx Forward-looking statements KeR
Slide 3: Vision
Vision A leading global provider of fil We-cycle professional services, project delvery and technologies ‘supporing the Government Services and Hydrocarbons martes, creaing excepfonal value for customers, employees ‘and shareholders,
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Slide 5: cenaina opens; nme
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Slide 7: KBR Today - Improved Risk Profile
ferees| KBR Today - Improved Risk Profile priceaiaiee ery "lo it e. a ae i KeR
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Slide 9: Low oil prices have limited impact on KBR
ferees| Low oil prices have limited impact on KBR, = sone expssue mo ae Reig —— Louoligrces steuaes ssc 45% Sx reasee 240% % cree KBR
Slide 10: Technology
Technology Program Management Project Delivery Operations & Maintenance _~ |
Slide 11: Life-Cycle Strategy
ferees| Life-Cycle Strategy
Slide 12: Government Services Overview
GOVERNMENT SERVICES OVERVIEW
Slide 13: GS Vision & Strategy
GS Vision & Strategy Grow Profits Strengthen Business Acunen [f Build High Performance Cuture| Integate WyleandHTS| + Rigorous BDandcapte + ‘Bring static and cutural under single gba brand sysem-imovessles ‘Sgnment acres negra efecaveness 63 Segment + Toke matetshare + Manageto compettverais- «Harmo
Slide 14: Business Overview
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Slide 15: GS Today - Greater Balance
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Slide 16: GS Capabilities
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Slide 17: Life-Cycle Strategy
Les] Life-Cycle Strategy
Slide 18: Segment Financial Targets
Les] Segment Financial Targets 2orethru 2021 eens cick sm ene Uo oree ae pe he Sen Deere Coat Ha 90-10% of Net income Revenue Synergies /$300M+ annual run rate by 2020 KBR
Slide 19: Breakout Growth Potential
Lec] Breakout Growth Potential KBR
Slide 20: Engineering & Construction Overview
ENGINEERING & CONSTRUCTION OVERVIEW
Slide 21: E&C Vision & Strategy
feos | E&C Vision & Strategy + Geowcoemaies ING, + Pursue dxendaed EPC + Sreaghen leadership and Fertizers,Perochem&IS projects wthlover is protic siperisn + Coptweunderpenetaied + Revisizesaes/BDIoexerdse | + Buldacutureofcommament rmarkels:Chemcas Soba selectviyanddiscpine ‘amongempioyees, (OPEXfe
Slide 22: Business Overview
[ic] Business Overview * One ofthe worlds largest and comprehensive Oe providers of professional services and projects to _—_ ‘te Hydrocarbons industry ei "Premier project management and maior project ee delivery contractor . * Complete maintenance and industial services ‘trough the Brown & Root bre
Slide 23: E&C Today - more services, more predictable
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Slide 24: E&C Capabilities
Slide 25: Life-Cycle Strategy
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Slide 26: Segment Financial Targets
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Slide 27: Breakout Growth Potential
Breakout Growth Potential sonssecace Breakout Grovth Divers ‘Second Nort Amercen owmsteam vave(emqoni) Feadsiok advanagedevng LNG ‘export Norh Americ (ongoing) Natoral goverment requtements for ‘rogram management complex Prgjcis (US and Middle East, ‘eteseucure) (Quicker CAPEK spendngrecoey KeR
Slide 28: Technology & Consulting Overview
Slide 29: Business Overview
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Slide 30: T&C Vision & Strategy
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Slide 31: Life-Cycle Strategy
[exes] Life-Cycle Strategy KeR
Slide 32: Segment Financial Targets
Lox] Segment Financial Targets 2otethru2021 Revenue CAGR 71-10% (GPSEE Margin Low2ts ‘Segment Operating come Margins endl) Pati fictank Lema 90~110% ofNet income Pullsthrough Potential ‘$5008 year Polen fr eeloSve EEC pultrough KBR
Slide 33: Finance Strategy, Targets and Capital Allocation
FINANCE STRATEGY, TARGETS AND CAPITAL ALLOCATION
Slide 34: Financial Strategy
beves| Financial Strategy as Strengthen Business Emphasize Financia ‘CashisKing mindset == hvestingowm mates : eae + Maintainlow capinensty = Atracsveregular vend + Evolvetphigher margin work + Cash fowocused + Mein terete leverage + Commercial éscpine & a + Synerisc, cosine MBA seecsyntydecstos Hos
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Slide 36: Long-term Targets
os] Long-term Targets = Revenue'GrowhRate 3-5 sr NetincomeGrownRate 7-108" 109% Operating ash Flow ‘Conversion ratio Ela Ck te aura tar PEUEX san 2 = KeR
Slide 37: Breakout Potential
eee Breakout Potential = Revenue'Growhfate —3-5% 00% Netincome Growth Rate 7-108 15539 OperaingcashFow ——og_s40y o0-110% te aura tar PEUEX san 2 = KeR
Slide 38: Targeted Operating Cash Flow (OCF)
beves| Targeted Operating Cash Flow (OCF) = ‘$100 - 200M / year growing to ie ‘$200 ~300M / year = came - oo ~$800M to 1B# Deployable is Operating Cash Flow x {$50 100M of CAPEX
Slide 39: 2017 EPS and guidance
EPS, excluding legacy legal fees, nowexpected above mid-point of $1.10 ~ $1.40 range Retects gain on Pemex seementtoberecondedin 2017 —Retects organic growin for GS, T&Cand OpExprojedsin ESC, contrcton in CapExprjeds in EBC, and erget margins fra segments Includes $22M, or $0. 15EPS, in amortzaton E