B&W Thermal Awarded Equipment Installation Contracts with Large U.S. Utility Totaling More Than $18 Million

Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment has been awarded contracts totaling more than $18 million to install equipment to improve the operating efficiency, performance, and increase availability for two power plants for a large U.S. utility. B&W’s subsidiary, Babcock & Wilcox Construction Co., LLC (BWCC), will install waterwall panels, reheater tubes, and other technologies.

“BWCC provides field construction, construction management, and maintenance services for projects of all sizes for utilities and industrial customers, including for renewable energy, environmental, and decarbonization projects,” said B&W Chief Operating Officer Jimmy Morgan. “Our goal is always to help our customers maintain and improve their plants’ operation, efficiency, and availability so that they can continue to reliably serve their customers.”

BWCC provides outage services, installation, refurbishment, mechanical repair and maintenance services for a variety of industries, equipment and plant installations, regardless of the original manufacturer. Some industries served include power utility, oil & gas, oil sands, chemical and petrochemical, pulp & paper, biomass, waste-to-energy and general manufacturing.

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 BWCC

Babcock & Wilcox Construction Co., LLC (BWCC) is a single-source turnkey supplier of a full range of field construction, construction management and maintenance services.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the receipt of equipment installation contracts for two U.S. power plants. 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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