October 31, 2020

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Babcock & Wilcox Thermal to Supply Superheater Components to U.S. Power Customer

AKRON, Ohio--(BUSINESS WIRE)--$BW--Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical (highly efficient) boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. The plant provides low-emissions power to more than one million central Texas homes and businesses. Engineering is underway for the contract, which was awarded to B&W’s subsidiary, The Babcock & Wilcox Company. Components will be manufactured in B&W’s Monterrey, Mexico, facility. “B&W Thermal serves an essential role in maintaining the global power plant fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Now more than ever, it’s important that plants continue to operate efficiently, and we’re proud to supply reliable, cost-effective technologies to help customers across a wide range of industries meet emission standards. We thank Luminant for the opportunity to supply components for this important boiler maintenance project.” Material delivery to Oak Grove is scheduled for February 2021. B&W Universal Pressure boilers are designed to operate at highly efficient steam outlet temperatures of approximately 1100° F and at supercritical pressures, producing power with lower overall emissions than subcritical pressure boilers. About B&W 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 Twitter @BabcockWilcox 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 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 execution and completion of a contract to design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. 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. Contacts Investors:Megan Wilson Vice President, Corporate Development & Investor Relations Babcock & Wilcox 704.625.4944 | investors@babcock.com Media:Ryan Cornell Public Relations Babcock & Wilcox 330.860.1345 | rscornell@babcock.com

AKRON, Ohio–(BUSINESS WIRE)–$BW–Babcock & Wilcox (B&W) (NYSE: BW) announced today that its B&W Thermal segment will design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical (highly efficient) boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. The plant provides low-emissions power to more than one million central Texas homes and businesses.

Engineering is underway for the contract, which was awarded to B&W’s subsidiary, The Babcock & Wilcox Company. Components will be manufactured in B&W’s Monterrey, Mexico, facility.

“B&W Thermal serves an essential role in maintaining the global power plant fleet,” said B&W Chief Operating Officer Jimmy Morgan. “Now more than ever, it’s important that plants continue to operate efficiently, and we’re proud to supply reliable, cost-effective technologies to help customers across a wide range of industries meet emission standards. We thank Luminant for the opportunity to supply components for this important boiler maintenance project.”

Material delivery to Oak Grove is scheduled for February 2021.

B&W Universal Pressure boilers are designed to operate at highly efficient steam outlet temperatures of approximately 1100° F and at supercritical pressures, producing power with lower overall emissions than subcritical pressure boilers.

About B&W

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 Twitter @BabcockWilcox 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 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 execution and completion of a contract to design, manufacture and supply new superheater components for a B&W Universal Pressure supercritical boiler at Luminant’s Oak Grove Power Plant near Franklin, Texas. 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.

Contacts

Investors:
Megan Wilson

Vice President, Corporate Development & Investor Relations

Babcock & Wilcox

704.625.4944 | investors@babcock.com

Media:
Ryan Cornell

Public Relations

Babcock & Wilcox

330.860.1345 | rscornell@babcock.com

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