Babcock & Wilcox News

• B&W Continues Middle East Growth Plan and Business Expansion in Region

(AKRON, Ohio – January 27, 2022) – Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment has been awarded a contract for more than $6 million to provide advanced technologies to convert a Middle East chemical plant’s six boilers from oil to cleaner, lower-emission fuel. B&W Thermal will design, manufacture and supply dual-fuel burners, main and local gas skids and other equipment and provide commissioning and other technical services.

“The demand for cleaner and more efficient energy generation and industrial technologies in the Middle East is increasing substantially,” said B&W Middle East Holdings Managing Director Wassim Moussaoui. “We are seeing significant interest in clean energy technologies, which B&W is well-positioned to provide, as utilities and manufacturers look to reduce emissions, increase efficiency and adopt cleaner energy options.”

B&W continues to expand its sales and business development presence globally. Targeted expansion regions include the Middle East, Africa and Asia-Pacific, which have significant opportunities for the company’s advanced technologies, including waste-to-energy, biomass, advanced thermal, hydrogen production and environmental solutions.

B&W has been growing rapidly in the Middle East since 2020, increasing its presence in the region and establishing a Middle East headquarters office in Dubai. B&W also has expanded its sales and business development team throughout the region over the last year.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on LinkedIn and learn more at www.babcock.com.

About B&W Thermal

Babcock & Wilcox Thermal designs, manufactures and erects steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil & gas, and industrial sectors. B&W Thermal has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and more.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of a contract to provide natural gas burner technologies and services for an industrial facility in the Middle East. These forward-looking statements are based on management’s current expectations and involve a number of risks and uncertainties. For a more complete discussion of these risk factors, see our filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K. If one or more of these risks or other risks materialize, actual results may vary materially from those expressed. We caution readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release, and we undertake no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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