Amentum Team Receives Notice to Proceed for Hanford Tanks Cleanup Contract

CHANTILLY, VA., October 17, 2024 - Amentum (NYSE: AMTM) and its partners have been approved by the U.S. Department of Energy (DOE) to begin the Hanford Integrated Tank Disposition Contract.

Earlier in 2024, the DOE announced that the contract had been awarded to H2C, which is a joint venture led by a BWXT subsidiary and includes partners Amentum and Fluor. A protest for this award was recently dismissed in the U.S. Court of Federal Claims. The contract is a single-award, Indefinite Delivery Indefinite Quantity contract that has a maximum value of $45 billion over a 10-year ordering period.

"Amentum and its partners are ready to get started on this important cleanup contract for the DOE. We will bring the most advanced technical solutions and highly experienced team to help solve one of our nation's most important environmental challenges," said Mark Whitney, President of Amentum's Energy & Environment business group.

The scope of the ITDC includes operation of complex Hanford tank farm facilities and eventual operation of the Waste Treatment and Immobilization Plant in order to complete the tank closure mission. Hanford is a 580-square-mile site located in southeast Washington state, established in 1943 as part of the Manhattan Project to produce plutonium for national defense. It has 177 underground tanks holding approximately 56 million gallons of radioactive waste.

About Amentum

Amentum is a global leader in advanced engineering and innovative technology solutions, trusted by the United States and its allies to address their most significant and complex challenges in science, security and sustainability. Our people apply undaunted curiosity, relentless ambition and boundless imagination to challenge convention and drive progress. Our commitments are underpinned by the belief that safety, inclusion and well-being are integral to success. Headquartered in Chantilly, Virginia, we have more than 53,000 employees in approximately 80 countries across all 7 continents.

Visit us at amentum.com to learn how we advance the future together.

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This press release contains or incorporates by reference statements that relate to future events and expectations and, as such, constitute forward-looking statements under the securities laws, including statements regarding the Reverse Morris Trust transaction (the "transaction"), as described in the information statement filed as Exhibit 99.1 to the Current Report on Form 8-K of Amentum Holdings, Inc. (the "Company") filed with the Securities and Exchange Commission (the "SEC") on September 18, 2024 (the "information statement"). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "target," "endeavor," "seek," "predict," "intend," "strategy," "plan," "may," "could," "should," "will," "would," "will be," "will continue," "will likely result," or the negative thereof or variations thereon or similar terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the anticipated work and revenue under the awarded contract, the expected benefits of the transaction, including future financial and operating results and strategic benefits, the tax consequences of the transaction, and the Company's objectives, expectations and intentions, applicable legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward-looking statements.

For information on identifying factors that may cause actual results to vary materially from those stated in forward-looking statements, see the discussions under the section entitled "Risk Factors" in the information statement. Any forward-looking statement speaks only as of the date on which it is made, and the Company assumes no obligation to update or revise such statement, whether as a result of new information, future events or otherwise, except as required by applicable law.

For Amentum:
Keith Wood
(803) 507-2332
[email protected]

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