Babcock & Wilcox Enterprises, Inc. · NYSE:BW

Babcock & Wilcox Enterprises — Investor Presentation (March 2022)

39 slides from Babcock & Wilcox Enterprises's investor presentation, Mar 8, 2022

Slide 2: Safe Harbor Statement
Safe Harbor Statement B&W Enterprises cautions that this presentation contains forward-looking statements, including, without limitation, statements relating to adjusted EBITDA and sales targets, expectations regarding future growth, expansion and profitability, as well as statements about B&W’s fut
Slide 3: Executive Summary
Executive Summary Strong Global Brand Babcock & Wilcox provides high-quality, innovative renewable, environmental and thermal technologies and has served critical power generation and industrial applications for more than 150 years. Positioned for Growth B&W’s transformation is gaining momentum, wit
Slide 4: Next Generation B&W
Next Generation B&W B&W FOUNDATION DRIVES GROWTH STRATEGY A Circular Economy For our economy and future generations, we continually develop Advanced Technologies ecologically sound ways of utilizing and recycling valuable resources like biomass, municipal waste, and solar energy to create clean, ren
Slide 5: What We Do
What We Do Technologies for Renewable Power & Resource Recovery Waste-to-energy and biomass-to-energy baseload power, chemical recovery boilers for RENEWABLE pulp & paper, long duration energy storage, solar power installation & services Technologies for a Clean Environment Emissions control, ash ha
Slide 6: Key Market Drivers & Opportunities
Key Market Drivers & Opportunities Global drive toward renewable and Potential for carbon legislation reusable energy sources to limit benefits emergent carbon- carbon and methane emissions capture technologies Increasing global regulatory An aging utility boiler installed base restrictions on landf
Slide 7: Key Growth Strategies
Key Growth Strategies Grow by expanding sales, service and business development teams in key international regions to serve the broad renewable, environmental and thermal markets Meet the global need for carbon reduction with patented renewable waste-to-energy, biomass, hydrogen production, solar an
Slide 8: Installed & Proven Technologies
Installed & Proven Technologies More than 500 waste-to-energy and biomass-to-energy units at more than 300 facilities in more than 30 countries, serving a wide range of utility, waste management, municipality and investment firm customers More than 100 MW of clean solar power production installed La
Slide 9: Company Profile
Company Profile Babcock & Wilcox is a global leader in advanced environmental, renewable and thermal technologies and services for power and industrial applications. Corporate Snapshot Consolidated LTM Revenue Backlog1 as of Headquarters: Akron OH, USA December 31, 2021 Founded: 1867 18% 19% Industr
Slide 10: 3-Year Pipeline
Global footprint and ongoing expansion positions Global Expansion B&W to leverage market trends around the world 2021-2023 Addressable Market Europe 2021-2023 More than $8B Addressable Market Asia-Pacific More than $8B 2021-2023 Addressable Market Middle East & Africa More than $4B Manufacturing 202
Slide 11: ClimateBright Decarbonization Technologies
B&W’s ClimateBrightTM Decarbonization Technologies are Ready ClimateBright DECARBONIZATION TECHNOLOGIES TM BrightLoop ™ OxyBright ™ SolveBright ™ BrightGen™ CHEMICAL LOOPING OXYGEN-FUEL COMBUSTION POST-COMBUSTION CARBON CAPTURE HYDROGEN COMBUSTION  Pilot testing complete  Jointly developed with Th
Slide 12: Carbon Capture Solutions Ready for Deployment
Key Technologies: Carbon Capture Solutions Ready for Deployment OxyBright™ oxygen-fuel combustion SolveBright™ post-combustion carbon capture  Oxy-coal combustion technology  Post-combustion technology  “Near-zero” emissions  Patented amine-based solvent process  30 MW demonstration complete 
Slide 13: BrightLoop Chemical Looping Combustion Platform
Key Technologies: BrightLoop™ Chemical Looping Combustion Platform Natural Gas Combustion: Process HEAT Biomass Steam Turbine Biogas Gasification: Fuel Cell/Boiler POWER Hydrogen Waste Partial Oxidation: H2 Storage Coal (Petcoke) BrightLoop™ Syngas Chemical Looping Shift Reaction HYDROGEN Technology
Slide 14: B&W's Waste-to-Energy Technology Reduces Methane Emissions
B&W’s Waste-to-Energy Technology Reduces Methane Emissions  Methane has 84 times the Global Warming Potential (GWP) of CO2i  B&W’s state-of-the-art technology has been  Annual additions to landfills in the U.S.ii produce emissions installed in more than 500 units in more equivalent to 10 million
Slide 15: Fosler Solar
Fosler Solar  Reputable Expertise Known for engineering, designing, deploying and maintaining reliable solar solutions  Diverse Experience Serving agricultural, commercial, educational, municipal and utility customers  Continuous Growth - Top 30 EPC contractor in the U.S. solar industry (Solar Po
Slide 16: Highlighted Acquisition to Support Clean Energy Strategy: FPS
Highlighted Acquisition to Support Clean Energy Strategy: FPS  Reputable Expertise Worldwide leader in the design and manufacturing of firing equipment and safety systems, with installations in more than 70 countries.  Diverse Experience Applications in new construction and retrofit projects for t
Slide 18: Consolidated Financial Summary
Consolidated Financial Summary Twelve Months Ended Twelve Months Ended Twelve Months Ended ($ in Millions) December 31, 2021 December 31, 2020 December 31, 2019 Pro forma Reported exc. non-recurring insurance recovery Revenue $ 723.4 $ 566.3 $ 566.3 $ 859.1 Operating Income (Loss) $ 20.8 $ (1.7) $ (
Slide 19: Capital Structure
Capital Structure ($ in Millions) As of Dec 31, 2021 Capitalization: Total Debt $340.3 Cash, cash equivalents and restricted cash 226.7 Net Debt $113.6 Total Debt Leverage: LTM 12/31/2021 Adjusted EBITDA (1) 70.6 (2) Net Leverage 1.61x Note: Figures may not be clerically accurate due to rounding. (1
Slide 20: Executive Summary
Executive Summary Strong Global Brand Babcock & Wilcox provides high-quality, innovative renewable, environmental and thermal technologies and has served critical power generation and industrial applications for more than 150 years. Positioned for Growth B&W’s transformation is gaining momentum, wit
Slide 22: Leadership Team
Leadership Team Chairman & Chief Executive Officer Kenny Young Chief Financial Officer Chief Operating Officer General Counsel Lou Salamone Jimmy Morgan John Dziewisz Chief Strategy Officer & Global Sales & Chief Technology & Chief People Officer Corporate Development Business Development Engineerin
Slide 23: Corporate Governance
Corporate Governance Board of Directors Advisory Board Chairman & Chief Executive Officer Henry Bartoli Homaira Akbari Kenny Young Rod O’Connor Peter O’Keefe Joseph Tato Rebecca Stahl Phillip Piddington Eric Powell Alan Howe Philip Moeller © 2022 Babcock & Wilcox Enterprises, Inc. All rights reserve
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (1) Twelve months ended $ in Millions Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 1) Figures may not be clerically accurate due to rounding Net income (loss) 2) Cost associated with development of commercially viable $ 31.5 $ (10.3) $ (129.0) products that are ready to go t
Slide 25: Recent Acquisition Activity Supports B&W's Growth Strategy
Recent Acquisition Activity Supports B&W’s Growth Strategy Solar Installation & Services On September 30, 2021, B&W acquired a 60% controlling ownership stake in Fosler Construction Company Inc., a leading U.S. provider of construction services for the solar energy sector, based in Illinois. Fosler
Slide 27: Key Technologies: Steam Generation
Key Technologies: Steam Generation Utility Boilers Waste-to-Energy Boilers High pressure, high efficiency, high capacity, low emissions Reduces dependency on landfills and reduces methane gas emissions Fuel: Coal, oil, natural gas, multi-fuel Fuels: MSW, RDF Natural Gas-Fired and Other Industrial Bi
Slide 28: Key Technologies: Renewable Combustion Grates
Key Technologies: Renewable Combustion Grates DynaGrate® Pivoting Combustion Grate  Large installed base with diverse set of customers  Grate design allows for high availability and long operational time, leading to reduced O&M cost  High thermal efficiency and low emissions  Fuel flexibility 
Slide 29: Key Technologies: Emissions Controls
Key Technologies: Emissions Controls Emission Technology Solution  Pulse Jet Fabric Filters (PJFF) / Baghouses  Wet and Dry Electrostatic Precipitators (ESPs) Particulate Control  Wet Particulate Scrubbers  Multiclone® Dust Collectors  Selective Catalytic and Non-catalytic Reduction (SCR/SNCR)
Slide 30: Key Technologies: Steam Generation & Environmental Solutions
Key Technologies: Steam Generation & Environmental Solutions Across a Utility Plant Particulate Control Steam Generator Technology Technologies Environmental Solutions  Pulverizers  Particulate control  Furnace Dry Scrubbing  Nitrogen oxides (NOx) removal Technologies  Sulfur removal  Burners
Slide 31: Key Technologies: Comprehensive Waste-to-Energy Solutions
Key Technologies: Comprehensive Waste-to-Energy Solutions Cooling towers On-line boiler washing system Selective non-catalytic reduction (SNCR) NOx control DynaFeeder® waste fuel feeder system Fabric filter baghouse VoluMix® system for improved combustion Wet scrubber with ADIOX® including energy re
Slide 32: Key Technologies: Submerged Grind Conveyor Ash Handling
Key Technologies: Submerged Grind Conveyor Ash Handling Designed to meet current and future U.S. regulatory requirements for ash handling with:  Lower equipment cost  Lower installation cost • Utilize existing hoppers and gate valves • No modification to hopper  Short outage required  Short lead
Slide 33: Key Technologies: Ignitors, Flame Scanners and Controls
Key Technologies: Ignitors, Flame Scanners and Controls Designed for safety, reliability and fuel flexibility  Natural gas conversions from oil or coal-firing  Alternative energy fuels such as hydrogen, bio-diesel, methanol and bio-gas  Burner management and controls for complete turnkey system c
Slide 34: Key Technologies: Engineered Products and HRSG Components
Key Technologies: Engineered Products and HRSG Components Engineered products and solutions, quality manufacturing  Comprehensive mechanical and process design upgrades  Chanute, Kansas, manufacturing facility has produced more HRSG components than any other facility in North America • Pressure pa
Slide 35: Key Technologies: Solar Installation
Key Technologies: Solar Installation  Engineering & Procurement  Construction Benefits of a solar • Project Cost Analysis • Permitting and AHJ Permissions • Subcontractor Management addition: • On-Site Construction Management • Grid Integration and Interconnection • Logistics • Coordination and Su
Slide 36: Key Technologies: Short and Long Duration Energy Storage
Key Technologies: Short and Long Duration Energy Storage  B&W has a partnership with Eos Energy  B&W offers Pressurized or Atmospheric Storage, LLC to sell and service Eos’ innovative, Fluidized Bed technology for long patented Eos Znyth® zinc battery solution duration energy storage (3-12 hours s
Slide 37: Key Technologies: Cooling Systems
Key Technologies: Cooling Systems Natural Draft/Hyperbolic Mechanical Draft Fanless design provides low power, noise Counterflow for cost-effective thermal and maintenance, as well as long operating performance; crossflow for low energy lifecycle consumption and operating costs WET MATERIAL OPTIONS:
Slide 38: Key Technologies: Global Parts & Service
Key Technologies: Global Parts & Service Maintaining/improving plant operation: Upgrades & Retrofits Projects for extending the life of power, process and environmental equipment Supplying components for system reliability: Replacement Parts High-quality standard or custom-engineered pressure and no

Babcock & Wilcox Enterprises — Investor Presentation (March 2022) on 6ix

Babcock & Wilcox Enterprises — Investor Presentation (March 2022)

Slide 1: Investor Presentation

Slide 2: Safe Harbor Statement

Slide 3: Executive Summary

Slide 4: Next Generation B&W

Slide 5: What We Do

Slide 6: Key Market Drivers & Opportunities

Slide 7: Key Growth Strategies

Slide 8: Installed & Proven Technologies

Slide 9: Company Profile

Slide 10: 3-Year Pipeline

Slide 11: ClimateBright Decarbonization Technologies

Slide 12: Carbon Capture Solutions Ready for Deployment

Slide 13: BrightLoop Chemical Looping Combustion Platform

Slide 14: B&W's Waste-to-Energy Technology Reduces Methane Emissions

Slide 15: Fosler Solar

Slide 16: Highlighted Acquisition to Support Clean Energy Strategy: FPS

Slide 17: Financial Information

Slide 18: Consolidated Financial Summary

Slide 19: Capital Structure

Slide 20: Executive Summary

Slide 21: Appendix

Slide 22: Leadership Team

Slide 23: Corporate Governance

Slide 24: Adjusted EBITDA Reconciliation

Slide 25: Recent Acquisition Activity Supports B&W's Growth Strategy

Slide 26: Key Technologies

Slide 27: Key Technologies: Steam Generation

Slide 28: Key Technologies: Renewable Combustion Grates

Slide 29: Key Technologies: Emissions Controls

Slide 30: Key Technologies: Steam Generation & Environmental Solutions

Slide 31: Key Technologies: Comprehensive Waste-to-Energy Solutions

Slide 32: Key Technologies: Submerged Grind Conveyor Ash Handling

Slide 33: Key Technologies: Ignitors, Flame Scanners and Controls

Slide 34: Key Technologies: Engineered Products and HRSG Components

Slide 35: Key Technologies: Solar Installation

Slide 36: Key Technologies: Short and Long Duration Energy Storage

Slide 37: Key Technologies: Cooling Systems

Slide 38: Key Technologies: Global Parts & Service

Slide 39: Babcock & Wilcox Enterprises, Inc.