- KBR is a leading global engineering and construction company with over $13 billion in backlog and operations in over 45 countries. - The presentation discusses KBR's business units and strategic growth opportunities in each, including leveraging LNG expertise, expanding government services, and investing in new technologies. - KBR aims to be the preferred contractor through best-in-class risk management and execution capabilities. The company is also focused on improving financial performance and maintaining a strong balance sheet to support growth.

1. Credit Suisse 2008
Engineering and Environmental
Services Conference
Bill Utt – Chairman, President, and CEO
June 5, 2008

2. Forward-Looking Statements
This presentation contains “forward-looking statements.” All statements other than statements of historical
fact are, or may be deemed to be, forward-looking statements. Forward-looking statements include
statements about the benefits of the split-off, the discussions of KBR’s business strategies and KBR’s
expectations concerning future operations, profitability, liquidity and capital resources. You can generally
identify forward-looking statements by terminology such as “anticipate,” “believe,” “continue,” “could,”
“estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “projection,”
“should” or other similar words. These statements relate to future events or future financial performance and
involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of
activity, performance or achievements to differ materially from those in the future that are implied by these
forward-looking statements. Many of these factors cannot be controlled or predicted. These risks and other
factors include those described under “Risk Factors” in KBR’s Annual Report on Form 10-K dated February
26, 2008, final prospectus for its exchange offer dated March 27, 2007, Forms 10-Q, recent Current Reports
on Forms 8-K, and other Securities and Exchange Commission filings . Those factors, among others, could
cause KBR’s actual results and performance to differ materially from the results and performance projected
in, or implied by, the forward-looking statements. As you read and consider this presentation, you should
carefully understand that the forward-looking statements are not guarantees of performance or results. KBR
cautions you that assumptions, beliefs, expectations, intentions and projections about future events may and
often do vary materially from actual results. Therefore, KBR cannot assure you that actual results will not
differ materially from those expressed or implied by forward-looking statements.
The forward-looking statements included in this presentation are made only as of the date of this document.
New risks and uncertainties arise from time to time, and KBR cannot predict those events or their impact.
KBR assumes no obligation to update any forward-looking statements after the date of this presentation as a
result of new information, future events or developments, except as required by the federal securities laws.

3. KBR: A Leading Global Engineering & Construction Provider
FY 2007 Revenue: $8.7 Billion; EPS $1.79 (diluted)
89% International / 11% Domestic Downstream
Backlog at 3/31/08: $13.4 Billion
76% cost-reimbursable / 24% fixed-price * Government &
Infrastructure
Headquarters in Houston, Texas
100+ years of operating history
Services
~52,000 employees (~5,000 engineers)
45+ countries
Technology
Extensive service capabilities:
Engineering, procurement, construction,
Upstream
commissioning and start-up (EPC-CS) to global oil,
gas, petrochemical, and infrastructure customers
Defense, logistics, and contingency support for Ventures
defense services
* For contracts that contain both fixed-price and cost-reimbursable components, KBR classifies the components as either
fixed-price or cost-reimbursable according to the composition of the contract, except for smaller contracts that are
characterized on the predominate component.
1

4. Upstream Business Unit
Key Projects
Strategic Growth Opportunities
Pearl GTL
Maintain and expand gas monetization leadership
Escravos GTL
Yemen LNG
Expand Onshore/Offshore oil and gas
opportunities Tangguh LNG
Skikda LNG
Leverage consulting expertise Kashagan work
North Rankin 2
Continue to enhance engineering and technical Pazflor FPSO Topsides
capabilities to meet expected future market growth Pluto Production Platform
$7.0
$6.0
+ 65%
Backlog ($ billions)
$5.0
$4.0
$3.0
$2.0
$1.0
$-
Q106 Q107 Q108
2

5. Government & Infrastructure Business Unit
Key Projects
Strategic Growth Opportunities
LogCAP III
Leverage capabilities and proven track record to
capture more design and construction work for LogCAP IV (Awarded)
federal, state, and local governments Allenby & Connaught
CENTCOM
Portfolio diversification among defense services CONLOG
and non-defense branches of the U.S.
Hope Downs DES
Government
Scottish Water
International geographic diversification among
defense services
$6.0
- 14%
$5.0
Backlog ($ billions)
$4.0
+ 181%
$3.0
+ 2%
$2.0
+ 122%
$1.0
$-
Q106 Q107 Q108
Other Governm ent & Infrastructure Middle East Operations
3

6. Services Business Unit
Strategic Growth Opportunities Key Projects
Grow domestic construction capability through organic Scotford Upgrader
growth and acquisitions Expansion
North West Upgrader
Expand industrial services product offerings and projects
geographic footprint Bassell chemical plants
Texas Instruments
Expand and capture Canadian Oil Sands opportunities Campuses project
Air Products Hydrogen
facility
Leverage existing Canadian fabrication capabilities to
broaden scope of work supplied on KBR projects MMM Vessels business
$900
$800
Backlog ($ millions)
$700
$600
+ 208%
$500
$400
$300
$200
$100
$-
Q106 Q107 Q108
4

7. Downstream Business Unit
Key Projects
Strategic Growth Opportunities
Ras Tanura Integrated
Continue leadership in Program Management
Project
Consultancy (PMC)
Yanbu Export Refinery
Saudi Kayan
Capitalize on growing end markets
Ethylene/Olefins facility
EBIC Ammonia plant
Leverage in-house and third party technology for
MAN Ferrostaal AC
expanded opportunities
Ammonia plant
Emerging market focus
$600
$500
Backlog ($ millions)
$400
- 42%
$300
$200
$100
$-
Q106 Q107 Q108
5

8. Technology Business Unit
Key Projects
Strategic Growth Opportunities
SUPERFLEX™ - Sasol SA
Leverage intellectual property assets
KAAP™ - MAN Ferrostaal
Ammonia plant
Increase pull-through opportunities based on
SCORE™ - Lanzhou China
technology
plant
Ningbo Wanhua
Capitalize on licensing opportunities
Polyurethanes Company
aniline plant
Continue to invest in research and development
$120
$100
Backlog ($ millions)
+ 9%
$80
$60
$40
$20
$-
Q106 Q107 Q108
6

9. Ventures Business Unit
Strategic Growth Opportunities Key Projects
Invest capital and development expertise for pull- Aspire Defence – Allenby &
through service opportunities Connaught investment
EBIC Ammonia project
investment
Make/manage equity investments on a stand-alone
basis Alice Springs-Darwin
railway project investment
Various road projects
Investment accountability independent of services
investments
provided
Reduce portfolio merchant risk profile
$800
$700
+ 17%
Backlog ($ millions)
$600
$500
$400
$300
$200
$100
$-
Q106 Q107 Q108
7

10. KBR Investment Thesis
“Go To” Contractor
“Best-in-Class” Risk Awareness
Improving Financial Performance
Focus on Safety
Strategic Uses of Cash
8

11. “Go To” Contractor
Skikda LNG; Tangguh LNG;
Yemen LNG; EBIC Ammonia Project
EPC /
EPCm
Yanbu Export Refinery;
LogCAP III & IV;
Pearl GTL; Ras Tanura;
Lo
D
CONCAP; CONLOG;
Multiple LNG Projects;
E
gis
FE
AFCAP; CENTCOM;
ti
cs
EXECUTION
ns n /
in g
Co esig
ult
PM
North Rankin 2;
D
C
Pluto Offshore Platform;
Ras Tanura; Pearl GTL;
Pazflor FPSO Topsides;
Kashagan
Trans Caspian Oil & Gas Study
Technology
ROSE™; SUPERFLEX™;
SCORE™; KAAP™; TRIG™
9

12. “Best-in-Class” Risk Awareness
Identification
Commercial Risk
Analysis
Measurement
Technical Risk
Pricing
Legal Risk
Management
Reporting
10

13. Improving Financial Performance
Recurring Business Unit Income* KBR Total Backlog
$13.4B
$168M
$10.7B + 25%
$129M + 30%
$117M $8.0B
+ 34%
+ 10%
6.7%
6.4%
5.7%
Q106 Q107 Q108 Q106 Q107 Q108
Recurring Business Unit Incom e* KBR Backlog
Percentages in boxes represent Recurring
Business Unit Income Margins
* See Appendix for GAAP reconciliation 11

14. Focus on Safety
1.00
0.90 Construction Industry Institute Rates
0.83
2006 CII Recordable Rate 0.56
0.80 2006 CII Lost Time Rate 0.22
0.70
Incident Rate
0.60 0.53
0.50 0.41
0.40
0.30 0.24
0.19
0.20 0.15
0.10
0.00
2006 2007 YTD 2008
Total Recordable Incident Rate Total Lost Time Incident Rate
Recordable Incident Rate LogCAP III Portion)Time Incident Rate
Lost
(Shaded Areas Represent
12

15. Balance Sheet Supports Growth Opportunities
Strategic Uses of Cash
Opportunistic Equity Investments in
Acquisitions Projects
Technology Investments / Return Capital to
Acquisitions Shareholders
KBR Cash at 3/31/08 ($ in millions)
Total Cash & Equivalents 1,927
Cash Associated with JVs 358
Advanced Payment on a KBR Project* 231
LogCAP III Working Capital Requirements ~300
Operating Cash Requirements ~100
Discretionary Cash 938
Announced Acquisition of BE&K, Inc. ~550
* Advanced payments associated with a contract being executed by a wholly-owned subsidiary of KBR.
13

16. Investment Highlights
Global Compelling
Market Growth
Leader Opportunities
Best-in-Class
Stringent Risk Technical
Management Expertise
Improving
Blue-Chip
Financial
Client Base
Profile
Strong
Balanced Project
Management
Portfolio
Team
14

18. Appendix - GAAP Reconciliation
Q106 Q107 Q108
Total Business Unit Revenue $ 2,056 $ 2,027 $ 2,519
Total Recurring Business Unit Income $ 117 $ 129 $ 168
Items included in Business Unit Income
Government & Infrastructure
Barracuda Additional Charge (15) - -
Skopje Embassy Provision - (1) (12)
Upstream
Brown&Root-Condor SPA Impairment - (20) -
Pemex Arbitration Gain - - 51
Ventures
ASD Impairment (26) - -
Total Items included in Business Unit Income (41) (21) 39
Total Business Unit Income (GAAP) $ 76 $ 108 $ 207