Fluor Selected for Lithium and Boron Mine Project in Nevada

IRVING, Texas–(BUSINESS WIRE)–Fluor
Corporation (NYSE: FLR) announced today that ioneer Ltd. has
selected Fluor to deliver its lithium and boron mine outside of Tonopah,
Nevada. Fluor will initially provide a definitive feasibility study, and
subsequently, engineering, procurement and construction management
(EPCM) services as the project progresses. Fluor will book the
feasibility study contract value in the fourth quarter of 2018 and
expects to book the full EPCM contract value in 2019 dependent on a
final investment decision.

“With the growing demand for electric vehicles and energy storage, Fluor
is excited to work with ioneer on our first lithium mine project in
Nevada,” said Tony
Morgan, president of Fluor’s Mining & Metals business. “Our team
brings the right combination of technical and execution expertise. We
will leverage our full suite of integrated solutions tools, including
our Zero
Base Execution^SM process and fit-for-purpose modular
design strategy, to develop an execution approach to deliver this
project safely and with excellence.”

The mine will extract and process ore to produce 20,200 tons of lithium
carbonate and 173,000 tons of boric acid, annually. Lithium is a key
component in batteries used for electric vehicles, power tools, drones
and other items. Boron is widely used in the glass industry to
strengthen and increase heat resistance for glass cookware, laboratory
glassware and glass screens used in mobile phones, tablets and liquid
crystal display televisions. Boron is also used in fiberglass,
insulation, electronics and as a micronutrient in agriculture.

The full notice to proceed on the EPCM phase is expected in 2019 with
first production expected in 2021.

About Fluor Corporation

Founded in 1912, Fluor
Corporation (NYSE: FLR) is a global engineering, procurement,
fabrication, construction and maintenance company that transforms the
world by building prosperity and empowering progress. Fluor serves its
clients by designing, building and maintaining safe, well executed,
capital-efficient projects around the world. With headquarters in
Irving, Texas, Fluor ranks 153 on the Fortune 500 list with
revenue of $19.5 billion in 2017 and has more than 56,000 employees
worldwide. For more information, please visit www.fluor.com
or follow Fluor on Facebook,
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LinkedIn
and YouTube.

Contacts

Brian Mershon/Brett Turner
Media Relations
469.398.7621/864.281.6976

Jason Landkamer
Investor Relations
469.398.7222