Babcock & Wilcox Enterprises, Inc. · NYSE:BW

Babcock & Wilcox Enterprises — Investor Presentation (August 2022)

36 slides from Babcock & Wilcox Enterprises's investor presentation, Aug 8, 2022

1. Slide 1: Company Overview

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 1 Company Overview August 8, 2022

2. Slide 2: Forward-looking statements

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 2 B&W Enterprises cautions that this presentation contains forward-looking statements within the meaning of federal securities laws. All statements other than statements of histo

3. Slide 3: Executive Summary: Building Toward the Future

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 3 After achieving ~$79 million in adjusted EBITDA in the 12 months ended June 30,2022, B&W is targeting1 FY2022 adjusted EBITDA of $110-$120 million. Building Toward the Future E

4. Slide 4: Next Generation B&W

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 4 Next Generation B&W The next generation Babcock & Wilcox is providing innovative environmental, renewable and energy transition solutions, generating recurring revenues from a

5. Slide 5: What We Do

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 5 Waste-to-energy and biomass-to-energy baseload power, chemical recovery boilers for pulp & paper, long duration energy storage, solar power installation & services Technologies

6. Slide 6: Key Market Drivers & Opportunities

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 6 B&W is positioned to capitalize on global trends driving the need for environmental and renewable solutions Key Market Drivers & Opportunities Potential for carbon legislation

7. Slide 7: Key Growth Strategies

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 7 Key Growth Strategies Core growth strategies focused on driving innovative environmental, renewable and energy transition technologies, growing aftermarket sales by leveraging

8. Slide 8: Installed & Proven Technologies

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 8 A vast global installation of B&W’s core technologies at utility and industrial plants, renewable plants and pulp & paper facilities create a large growth opportunity for parts

9. Slide 9: Company Profile

   B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 9 Company Profile Babcock & Wilcox is a global leader in advanced environmental, renewable and thermal technologies and services for power and industrial applications. B&W Renewa

10. Slide 10: Global Expansion and Addressable Market

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 10 55-65% 10-15% 20-30% Global Expansion Europe More than $8B 2022-2024 Addressable Market Americas Solar: More than $27B Other: More than $8B 2022-2024 Addressable Market Middle

11. Slide 11: ClimateBright Decarbonization Technologies are Ready

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 11 B&W’s ClimateBrightTM Decarbonization Technologies are Ready B&W has successfully tested three carbon capture technologies applicable to a wide range of fuels and processes 

12. Slide 12: Carbon Capture Solutions Ready for Deployment

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 12 Carbon Capture Technology for the 1000 GW of Global Coal Installed Base OxyBright™ oxygen-fuel combustion  Oxy-coal combustion technology  “Near-zero” emissions  30 MW demo

13. Slide 13: BrightLoop Chemical Looping Combustion Platform

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 13 Key Technologies: BrightLoop™ Chemical Looping Combustion Platform  Advanced process for clean power generation and CO2 capture  A flameless, oxy-combustion process using ox

14. Slide 14: BrightLoop Scale-Up Plan

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 14 BrightLoop Scale-Up Plan Sub-Pilot 25 kWth Pilot Scale 250 kWth Laboratory 2.5 kWth Commercial Demo 15 TPD H2/25 MWth Large-Scale Commercial 200 TPD H2/250 MWth COMPLETED Crit

15. Slide 15: Waste-to-Energy Technology Reduces Methane Emissions

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 15 B&W is actively deploying technology that curbs the global warming impact of methane B&W’s Waste-to-Energy Technology Reduces Methane Emissions  Methane has 84 times the Glob

16. Slide 16: Financial Information

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 16 Financial Information

17. Slide 17: Consolidated Financial Summary

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 17 ($ in Millions) Twelve Months Ended June 30, 2022 Twelve Months Ended December 31, 2021 Twelve Months Ended December 31, 2020 Reported Pro Forma Exc. Non-Recurring Insurance R

18. Slide 18: Capital Structure

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 18 Capital Structure Note: Figures may not be clerically accurate due to rounding. (1) See SEC financial filings and/or slides in Appendix for reconciliation of non-GAAP measures

19. Slide 19: Appendix

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 19 Appendix

20. Slide 20: Leadership Team

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 20 Leadership Team Chairman and Chief Executive Officer Kenny Young General Counsel John Dziewisz Chief Operating Officer Jimmy Morgan Chief Financial Officer Lou Salamone Chief

21. Slide 21: Corporate Governance

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 21 Joseph Tato Philip MoellerAlan Howe Rebecca Stahl Corporate Governance Board of Directors Advisory Board Chairman and Chief Executive Officer Kenny Young Henry Bartoli Rod O’C

22. Slide 22: Adjusted EBITDA Reconciliation

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 22 Twelve Months Ended Twelve Months ended June 30, 2022 (4) Dec 31, 2021 Dec 31, 2020 (3) Net income (loss) $ 32.2 $31.5 $ (10.3) Interest expense 42.9 41.4 60.7 Income tax (ben

23. Slide 23: Key Technologies

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 23 Key Technologies

24. Slide 24: Key Technologies: Steam Generation

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 24 Reduces dependency on landfills and reduces methane gas emissions Fuels: MSW, RDF Waste-to-Energy Boilers Single-drum, industry-standard unit for improved mill operation Fuels

25. Slide 25: Key Technologies: Renewable Combustion Grates

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 25  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 efficien

26. Slide 26: Key Technologies: Emissions Controls

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 26 Emission Technology Solution Particulate Control  Pulse Jet Fabric Filters (PJFF) / Baghouses  Wet and Dry Electrostatic Precipitators (ESPs)  Wet Particulate Scrubbers  M

27. Slide 27: Steam Generation & Environmental Solutions Across a Utility Plant

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 27 Key Technologies: Steam Generation & Environmental Solutions Across a Utility Plant Steam Generator Technology  Pulverizers  Furnace  Burners and ignitors  Sootblowers  P

28. Slide 28: Comprehensive Waste-to-Energy Solutions

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 28 Field Services Component & System Upgrades Control Systems Replacement & Spare Parts Operation & Maintenance DynaGrate® combustion grate DynaDischarger® ash removal Water-cool

29. Slide 29: Submerged Grind Conveyor Ash Handling

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 29 An innovative solution to eliminate ash ponds Key Technologies: Submerged Grind Conveyor Ash Handling Designed to meet current and future U.S. regulatory requirements for ash

30. Slide 30: Ignitors, Flame Scanners and Controls

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 30 Proven technologies with installations in more than 70 countries, including more than 11,000 ignitors Key Technologies: Ignitors, Flame Scanners and Controls Designed for safe

31. Slide 31: Engineered Products and HRSG Components

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 31 Proven experience in heat transfer and steam generating equipment for use in a wide range of applications. Key Technologies: Engineered Products and HRSG Components Engineered

32. Slide 32: Solar Installation

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 32 Benefits of a solar addition: 1. Powering up/down operations 2. Supplemental/plant energy source 3. Additional MW/GW output Key Technologies: Solar Installation High efficienc

33. Slide 33: Long Duration Energy Storage

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 33 Key Technologies: Long Duration Energy Storage Long duration energy storage smooths renewable energy peaks and bridges weather events NREL Enduring: (8-100 hours storage)  El

34. Slide 34: Cooling Systems

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 34 Specialized services to maximize plant performance and minimize costs and maintenance Optimization Services Water preservation technology customized for high-performance, long

35. Slide 35: Global Parts & Service

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 35 Key Technologies: Global Parts & Service Upgrades & Retrofits Replacement Parts Optimization Systems Engineering Services Adding value through constructability: Safe execution

36. Slide 36: C

    B A B C O C K & W I L C O X E N T E R P R I S E S , I N C .© 2022 Babcock & Wilcox Enterprises, Inc. All rights reserved. 36

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