BABCOCK AND WILCOX COMPANY
Babcock & Wilcox and its Fosler Solar Subsidiary Welcome Secretary of Energy Granholm for Tour of "Illinois Solar for All" Project

B&W's Fosler Solar subsidiary owns the 40-acre, 4.8-megawatt Gar Creek solar project, which is currently under construction and employs approximately 45 union workers, primarily representing United Brotherhood of Carpenters and Joiners of America Local 174. Anticipated for completion in the first quarter of 2022, the facility will provide clean power to nearly 1,000 Illinois residents through the Illinois Solar for All program, providing a significant cost savings on their energy bills. Illinois Solar for All provides families in low-income communities better access to clean, renewable energy through incentives that make solar installations and power more affordable.

"We were pleased to welcome Secretary Granholm today and appreciated the opportunity to discuss the role of renewable power in America's clean energy future," said B&W Chairman and Chief Executive Officer Kenneth Young. "As we look to dramatically reduce greenhouse gas emissions from energy generation and industry over the coming years, technologies such as solar, waste-to-energy, biomass-to-energy, generating hydrogen for energy and deploying carbon-capture technologies will be critical to our and the world's success."

"Gar Creek will provide affordable, clean, renewable energy to local residents, and has helped create dozens of union jobs that benefit the local community," Young said. "We're proud to own and lead a project that will have such a positive impact on the Kankakee community."

Secretary Granholm noted that projects like Gar Creek will play a key role in expanding the availability of clean, renewable energy in the United States.

"Community solar is so unique because it really does allow access to solar for people who may not have a home that they own or who share a home," Granholm said. "So, we (see this project) as part of our national community solar partnership. We have 600,000 homes now and we want to get to 5 million homes with community solar in the U.S. by 2025."

The Gar Creek project was developed by Trajectory Energy Partners in conjunction with landowners, the Economic Alliance of Kankakee County, the Kankakee Community College, local unions, and community leaders. Fosler Solar purchased the project in 2020 and is leading construction and installation activities. Residents of the project's anchor customer, the Preservation of Affordable Housing (POAH), will be given priority access to purchase electricity generated at Gar Creek at a reduced rate. Additional power will be offered to other Kankakee residents who apply for and meet income guidelines.

Trajectory Energy Partners is working with community groups across northern Illinois to offer eligible low-income residents an opportunity to subscribe to the project. More information on becoming a subscriber is available at www.comed.com/givearay.

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 Fosler Solar

With more than 100 operational solar installations across the state of Illinois and active projects in New York, Virginia and Maryland, Fosler Solar, a Babcock & Wilcox company, is an experienced industry leader, committed to provide forward-thinking solar solutions with union labor, outstanding service, and the highest quality construction available in the solar industry. Fosler is headquartered in Illinois with a satellite office in NY.

About Trajectory Energy Partners

An Illinois based solar developer, Trajectory Energy Partners brings together a deep background in solar development, financing, and policy; as well as agriculture and community organizing. Trajectory has developed projects across Illinois ranging from community solar to utility scale projects. Learn more at trajectoryenergy.com.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to the completion and subsequent operation of the Gar Creek solar project in Illinois, as well as the benefits to local residents and communities resulting from the project. 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
Vice President, Corporate Development & Investor Relations
Babcock & Wilcox
330-860-6802 | 704.625.4944
investors@babcock.com

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