Fluor Corporation
Fluor's NuScale Power Small Modular Nuclear Reactor Design Certification Accepted for Review by U.S. Nuclear Regulatory Commission
NuScale is the global leader with its innovative new nuclear generation technology

March 16, 2017

Fluor Corporation (NYSE: FLR) announced that NuScale Power (NuScale), in which Fluor is the majority investor, has received notice that its design certification application has been accepted for review by the U.S. Nuclear Regulatory Commission (NRC). By accepting the completed application for review, the NRC confirms that NuScale's submission addresses all NRC requirements and contains sufficient technical information to conduct the review. NuScale's small modular nuclear reactor (SMR) commercial power plant technology can deliver the energy diversity needed to power unique energy needs while also providing a safe, more flexible, carbon-free power generation solution.

"Fluor is pleased that the NRC validated the receipt of NuScale's design certification application in such a timely manner," said David Seaton, Fluor's chairman and CEO. "We believe that the future of the U.S. new-build power generation industry includes NuScale's small modular reactor technology and that NuScale is uniquely positioned as the only U.S. company leading the way."

"This is a great next step for a new U.S.-based nuclear technology and a step that affirms NuScale as a true leader in SMR technology development," said John Hopkins, NuScale's CEO. "The exceptional news that the NRC was able to accept our application during the 60-day docketing review period is validation of NuScale's hard work over the past eight years."

NuScale's small modular reactors include scalable plants, and the facility output can be incrementally increased depending upon the demand. The technology's operational flexibility can also be integrated with other carbon-free renewable energy sources like wind and solar to provide consistent power and to help enable stable grid performance.

NuScale marked a major milestone on December 31, 2016, when the company asked the NRC to approve its SMR design, the first submitted in the United States.

Fluor has supported NuScale since October 2011 - before the U.S. Department of Energy announced its cost-sharing program - as part of a long history with nuclear energy. For more than 60 years, Fluor has been providing the engineering, procurement, construction and maintenance of nuclear power plants, thereby helping to provide a long-term clean energy solution in the U.S. and around the world.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is a global engineering, procurement, fabrication, construction and maintenance company that designs, builds and maintains capital-efficient facilities for its clients on six continents. For more than a century, Fluor has served its clients by delivering innovative and integrated solutions across the globe. With headquarters in Irving, Texas, Fluor ranks 155 on the FORTUNE 500 list with revenue of $19 billion in 2016 and has more than 60,000 employees worldwide. For more information, please visit www.fluor.com or follow us on Twitter @FluorCorp.

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Fluor Corporation

Brian Mershon, Media Relations
Fluor Corporation
Tel: 469-398-7621

Jason Landkamer, Investor Relations
Fluor Corporation
Tel: 469-398-7222

Brett Turner
Media Relations
Tel: 864-281-6976

Geoff Telfer
Investor Relations
Tel: 469-398-7070

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