BABCOCK AND WILCOX COMPANY
Babcock & Wilcox Renewable Awarded $22 Million Waste-to-Energy Technology Contract to Support Customer's Clean Energy Transition

B&W Renewable will design and supply a 440-ton-per-day waste-to-energy boiler, DynaGrate^® combustion grate and other combustion equipment, including burners and sootblowers. The plant will generate cleaner electricity for the community while processing approximately 160,000 tons of industrial waste annually.

"Decarbonization efforts are gaining momentum worldwide, especially in Asia, while the need to responsibly and sustainably manage industrial and municipal waste continues to grow," said B&W Executive Vice President and Chief Operating Officer Jimmy Morgan. "Waste-to-energy technologies are an ideal solution to produce renewable, baseload power while reducing greenhouse gas emissions and reliance on landfills."

"Our business in the Asia-Pacific region continues to grow, with significant opportunities for B&W's renewable, environmental and thermal technologies," said Nick Carter, Managing Director of B&W's Asia-Pacific region. "We look forward to continuing to provide solutions to help our customers throughout the region with their clean energy transition."

B&W has more than 150 years of experience in designing, supplying and servicing some of the world's cleanest, most efficient energy systems. B&W Renewable's capabilities, including the state-of-the-art Vølund technology, developed and improved over the last 80 years, has been used in more than 500 applications worldwide.

About Babcock & Wilcox

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

About B&W Renewable

Babcock & Wilcox Renewable offers cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. B&W Renewable's leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the signing of a contract to design and supply waste-to-energy technologies for a plant in Asia, as well as growth opportunities in the region. 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

Investor Contact:
Megan Wilson
Chief Strategy Officer and Sr. Vice President, Corporate Development
Babcock & Wilcox
704.625.4944
investors@babcock.com

Media Contact:
Ryan Cornell
Public Relations
Babcock & Wilcox
330.860.1345
rscornell@babcock.com