Babcock & Wilcox News

• Activities are second phase of a multi-year plant maintenance project.
• B&W previously contracted to supply boiler equipment and other plant components.

(AKRON, Ohio – March 11, 2020) – Babcock & Wilcox Enterprises, Inc. (NYSE: BW) (B&W) announced today that its subsidiary, Babcock & Wilcox Construction Co., LLC (BWCC), has been awarded a project valued at more than $65 million to install B&W-designed and engineered components for a power plant in North America.

“B&W and its subsidiaries are well-positioned to supply construction services and engineering expertise to help our customers maintain their power plants, which will remain critical components of North America’s energy infrastructure for years to come,” said B&W Chief Executive Officer Kenneth Young. “As the most-experienced power plant service provider in the world, B&W is committed to using our expertise to deliver environmentally-conscious solutions to provide safe, reliable and cost-efficient power for our customers and the communities they serve.”

“BWCC’s extensive experience with site supervision and project execution on a wide range of jobs of all sizes gives us the depth of knowledge and responsiveness needed to proactively manage risks and safely deliver construction solutions for our customers,” Jimmy Morgan, Senior Vice President of The Babcock & Wilcox Company, added. “We’re honored by the trust they place in us and look forward to executing this project safely and effectively.”

BWCC is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services for a wide range of projects — from large, complex projects to small, unanticipated quick-turnaround repair needs.

About B&W
Headquartered in Akron, Ohio, Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Forward-Looking Statements
B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the execution and completion of the order awarded to BWCC to perform installation of components at a North American power plant. 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.