Babcock & Wilcox Enterprises, Inc. · NYSE:BW

Babcock & Wilcox Enterprises — Investor Presentation (March 2021)

36 slides from Babcock & Wilcox Enterprises's investor presentation, Mar 9, 2021

1. Slide 1: Investor Presentation March 2021

   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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 1 Investor Presentation March 2021

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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 2 B&W Enterprises cautions that this presentation contains forward-looking statements, including, without limitation, statements relating to adjusted EBITDA and sales targets, ex

3. Slide 3: Executive 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 3 Executive Summary B&W's transformation is gaining momentum, with new branding and a global expansion underway to pursue more than $5 billion in identified project opportunities

4. Slide 4: The next generation Babcock & Wilcox

   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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 4 The next generation Babcock & Wilcox is providing innovative environmental and renewable solutions, generating recurring revenues from a broad thermal installed base and expand

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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 5 Waste-to-energy and biomass-to-energy baseload power, chemical recovery boilers for pulp & paper, multi-fuel technology, Dynagrate® and vibrating combustion grates Technologies

6. Slide 6: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 6 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

7. Slide 7: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 7 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

8. Slide 8: Global Expansion

   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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 8 Global Expansion Europe More than $7B 2021-2023 Addressable Market Americas More than $8B 2021-2023 Addressable Market Middle East & Africa More than $4B 2021-2023 Addressable

9. Slide 9: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 9 B&W is actively deploying technology today which curbs the global warming impact of methane B&W’s Waste-to-Energy Technology Reduces Methane Emissions  Methane has 84 times th

10. Slide 10: Carbon Capture Technologies Ready for Commercial Demonstration

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 10  B&W is at the forefront of developing CO2 capturing technologies  Multiple technologies ready for commercial demonstration  93 active patents related to carbon capture tec

11. Slide 11: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 11 Financial Information

12. Slide 12: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 12 *COVID-19 adversely impacted all segments in 2020; strategic actions in 2019 and 2020 provide the foundation for a strong 2021 and beyond Consolidated Financial Summary Note:

13. Slide 13: Pro Forma 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 13 Pro Forma Capital Structure Note: Figures may not be clerically accurate due to rounding. (1) Includes impact of $172.5M common stock offering net of underwriting discounts an

14. Slide 14: Executive 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 14 Executive Summary B&W's transformation is gaining momentum, with new branding and a global expansion underway to pursue more than $5 billion in identified project opportunitie

15. Slide 15: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 15 Appendix

16. Slide 16: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 16 Kenny Young Chairman & Chief Executive Officer Leadership Team John Dziewisz General Counsel Jimmy Morgan Chief Operating Officer Lou Salamone Chief Financial Officer Jacqueli

17. Slide 17: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 17 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

18. Slide 18: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 18 Core growth strategies focused on driving innovative environmental and renewable technologies, growing aftermarket sales by leveraging the installed base, and expanding intern

19. Slide 19: Focus on core products and services

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 19  Focus on core products and services for environmental, renewable and thermal markets  Increase emphasis on retrofit and aftermarket services  Focus on quality, high margin

20. Slide 20: Key End Markets, Product and Service 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 20 Key End Markets Product andService Overview Waste-to-Energy Biomass Pulp & Paper Waste-to-energy and biomass technologies, aftermarket equipment upgrades, parts and service Po

21. Slide 21: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 21 Notes: (1) In March 2019, we entered into a settlement in connection with an additional B&W Renewable waste-to-energy EPC contract, for which notice to proceed was not given a

22. Slide 22: Gross Profit 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 22 Notes: (1) Intangible amortization is not allocated to the segments' adjusted gross profit, but depreciation is allocated to the segments' adjusted gross profit. (2) Adjusted

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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 23 Key Technologies

24. Slide 24: Products & Services Across Our Brands

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 24 A ft er m ar ke t N ew B ui ld Note: Gas-fired package boilers are used in coal-fired and renewable plants for start-up or auxiliary power Products & Services Across Our Brand

25. Slide 25: Key Technologies: Steam Generation 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 25 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

26. Slide 26: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 26  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

27. Slide 27: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 27 Emission Technology Solution Particulate Control  Pulse Jet Fabric Filters (PJFF) / Baghouses  Wet and Dry Electrostatic Precipitators (ESPs)  Wet Particulate Scrubbers  M

28. Slide 28: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 28 Key Technologies: Steam Generation & Environmental Solutions Across a Utility Plant Steam Generator Technology  Pulverizers  Furnace  Burners and ignitors  Sootblowers  P

29. Slide 29: Steam Generation, Combustion Grates & Flue Gas Treatment

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 29 Key Technologies:  Proven, proprietary DynaGrate® combustion grate offers high reliability, maximizing waste throughput and MW output  Advanced NextBAT® technology provides

30. Slide 30: Key Technologies: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 30 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

31. Slide 31: Clean Coal 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 31 Carbon Capture Technology for the 1000 GW of Global Coal Installed Base Oxy-Fired Combustion  Oxy-coal combustion technology  “Near-zero” emissions  30 MW demonstration com

32. Slide 32: Chemical Looping Combustion in Development

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 32 Potential extension beyond power generation Process can be modified to convert carbon-based fuels—coal, biomass and natural gas—to electricity, syngas, chemicals, liquid fuels

33. Slide 33: Key Technologies: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 33 Specialized services to maximize plant performance and minimize costs and maintenance Optimization Services Water preservation technology customized for high-performance, long

34. Slide 34: 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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 34 Key Technologies: Global Parts & Service Upgrades & Retrofits Replacement Parts Optimization Systems Engineering Services Adding value through constructability: Safe execution

35. Slide 35: Eos Energy Storage Battery Solution

    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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 35  B&W will market Eos’ battery storage solutions globally  B&W is exclusive preferred installer in U.S. and Canada  Eos Znyth® zinc battery technology is: • Scalable • Modul

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 .© 2021 Babcock & Wilcox Enterprises, Inc. All rights reserved. 36

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