Babcock & Wilcox Construction Co., LLC Awarded $25 Million Contract for Outage and Maintenance Services at U.S. Power Plant

Babcock & Wilcox (B&W) (NYSE:BW) announced today that Babcock & Wilcox Construction Co., LLC (BWCC) has been awarded a $25 million contract for boiler upgrades, pressure part replacements and other outage and maintenance services at a U.S. thermal power plant.

BWCC will execute the work during the plant's Fall 2024 outage.

"The coal power fleet provides approximately 20 percent of electrical power in the U.S. and is a critical source of baseload energy," said BWCC Vice President and General Manager Mike Hidas. "BWCC is focused on ensuring the nation's energy security as we help our customers keep their baseload generating assets operating reliably and at peak efficiency."

"Our experienced team has the knowledge and responsiveness necessary to safely deliver a full range of field construction, construction management and maintenance services for any size facility," Hidas said.

BWCC operates numerous regional construction offices across the U.S. and Canada, allowing it to quickly respond to customer requests and efficiently and effectively manage projects.

About Babcock & Wilcox

Headquartered in Akron, Ohio, Babcock & Wilcox Enterprises, Inc. 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.

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including, without limitation, statements relating to an outage and maintenance services contract for a power plant in the United States. 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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