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ENGLOBAL ANNOUNCES $11.5 MILLION FUEL SYSTEMS MAINTENANCE CONTRACT

Current Backlog Rises to $57.2 Million, Up 96% from Year-End 2018
HOUSTON, TX, Nov. 25, 2019 (GLOBE NEWSWIRE) — ENGlobal Government Services, Inc. (“EGS”), a wholly owned subsidiary of ENGlobal Corporation (NASDAQ: ENG), a leading service provider to the U.S. Department of Defense for engineering, automation, information technology (IT) and operational technology (OT) services, today announced it has received an $11.5 million contract for the maintenance, sustainment and upgrades of Automated Fuel Handling Equipment (AFHE) worldwide with the Defense Logistics Agency (DLA). This contract will be in addition to any awards under the previously announced contract with the DLA.
For a 15-month period, the Company will be providing the required personnel and equipment to maintain, upgrade and install AFHE systems which are located at 23 sites worldwide. The scope of this effort includes services for Preventive Maintenance, Corrective Maintenance, Site Support, Technical Documentation, Engineering Design, and Procurement Support.
“We are pleased to have received this award as a result of superior past performance and the long term, trusted relationships we have built with our government clients,” said John L. Kratzert, Senior Vice President. “This contract allows EGS to continue its exceptional support to our warfighters, providing them with the technology and systems sustainment necessary for the accomplishment of their missions.”
Mr. Kratzert continued, “Speaking on behalf of the entire EGS team, we look forward to continuing our relationship with the Department of Defense, the Defense Logistics Agency and each of the service components. Given our expanded role, we expect to be performing this work out of both our Tulsa and Denver office locations.”
William A. Coskey, P.E., Chairman and Chief Executive Officer added, “I’m proud to say that, with this award, ENGlobal’s total backlog, which represents an estimate of booked projects that have not been completed, has now increased to $57.2 million. This amount represents a 96 percent increase of $28 million on the $29.2 million backlog level that we started with this year.”
Mr. Coskey added, “These amounts give us a great deal of confidence that our shift in strategy is working. A related indicator that’s also positive is current proposal activity – as our Company now has over $200 million in outstanding proposals that are awaiting customer decisions.”
For over 30 years, EGS has provided the Federal Government with design, installation, and maintenance of AFHE Systems, Automated Tank Gauging (ATG), Supervisory Control and Data Acquisition (SCADA), Cyber Security, and Modular Engineered Solutions. EGS has a long history in supporting the U.S. Military with fuel supply chain and IT-related services.

About ENGlobal
ENGlobal (Nasdaq: ENG) is a provider of engineering and automation services primarily to the energy sector throughout the United States and internationally. ENGlobal operates through two business segments: Automation and Engineering. ENGlobal’s Automation segment provides services related to the design, fabrication and implementation of distributed control, instrumentation and process analytical systems. The Engineering segment provides consulting services for the development, management and execution of projects requiring professional engineering, construction management, and related support services. Within ENGlobal’s Engineering segment, ENGlobal Government Services, Inc. provides engineering, design, installation, operations, and maintenance of various government, public sector, and international facilities, specializing in turnkey automation and instrumentation systems for the U.S. Defense industry worldwide. Further information about the Company and its businesses is available at www.ENGlobal.com.

Safe Harbor for Forward-Looking Statements
The statements above regarding the Company’s expectations, its operations and certain other matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws and are subject to risks and uncertainties For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ENGlobal’s filings with the Securities and Exchange Commission, including the Company’s most recent reports on Form 10-K and 10-Q, and other SEC filings.
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Kevin M. Palma

Director

Mr. Palma has served as a Director of the Company since June 2016, and is a member of the Audit and Compensation Committees.

Mr. Palma served as the Chief Financial Officer of B-29 Investments, LP, an energy private equity firm, from 2006 until he was promoted to Chief Operating Officer in December 2018, and also served as the Chief Financial Officer of B-29 Family Holdings, LLC, a family office, since its inception in 2014 until December 2018. In his role within the private equity space, Mr. Palma focuses on investment strategy, investment execution, and portfolio company management for both privately-held and publicly-traded companies.

Mr. Palma currently serves on several private company boards, including Silver Creek Oil and Gas, LLC, Caliber Completion Services, LLC, and Klear Bit Technologies, LLC. His past experiences on private company boards include Crest Pumping Technologies, LLC and TEC Holdings, LLC (which was recently rebranded as AXIS Energy Services, LLC).

Kevin M. Palma

Prior to his roles at B-29, Mr. Palma was a member of the energy investment banking team at Raymond James & Associates, focusing on capital market raises and merger and acquisition activity.

Mr. Palma is licensed as a Certified Public Accountant in the State of Texas, and holds a Master of Business Administration from the Harvard Business School in addition to a Bachelor of Business Administration and a Master of Public Administration from the University of Texas.

Committee Membership: Audit Committee, Compensation Committee

Kevin M. Palma

Director

Kevin M. Palma

Mr. Palma has served as a Director of the Company since June 2016, and is a member of the Audit and Compensation Committees.

Mr. Palma served as the Chief Financial Officer of B-29 Investments, LP, an energy private equity firm, from 2006 until he was promoted to Chief Operating Officer in December 2018, and also served as the Chief Financial Officer of B-29 Family Holdings, LLC, a family office, since its inception in 2014 until December 2018. In his role within the private equity space, Mr. Palma focuses on investment strategy, investment execution, and portfolio company management for both privately-held and publicly-traded companies.

Mr. Palma currently serves on several private company boards, including Silver Creek Oil and Gas, LLC, Caliber Completion Services, LLC, and Klear Bit Technologies, LLC. His past experiences on private company boards include Crest Pumping Technologies, LLC and TEC Holdings, LLC (which was recently rebranded as AXIS Energy Services, LLC).

Prior to his roles at B-29, Mr. Palma was a member of the energy investment banking team at Raymond James & Associates, focusing on capital market raises and merger and acquisition activity.

Mr. Palma is licensed as a Certified Public Accountant in the State of Texas, and holds a Master of Business Administration from the Harvard Business School in addition to a Bachelor of Business Administration and a Master of Public Administration from the University of Texas.

Committee Membership: Audit Committee, Compensation Committee