Babcock & Wilcox Enterprises, Inc. · NYSE:BW

Babcock & Wilcox Enterprises — Investor Presentation (November 2021)

41 slides from Babcock & Wilcox Enterprises's investor presentation, Nov 10, 2021

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 recycling resources, like biomass and waste, to create clean, renewable baseload power while reducing greenhous
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-term energy storage, solar power installation & services Technologies for a Clean Environment Emissions control, ash handli
Slide 6: 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 ~90 pulp & paper recovery boiler units in North America; at n
Slide 7: 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 Backlog1 as of LTM Revenue September 30, 2021 Headquarters: Akron OH, USA Founded: 1867 19% 19% Indust
Slide 8: 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 $7B Addressable Market Asia-Pacific More than $8B 2021-2023 Addressable Market Manufacturing Middle East & Africa Service Facilitie
Slide 9: B&W's ClimateBright Decarbonization Technologies are Ready
B&W’s ClimateBrightTM Decarbonization Technologies are Ready ClimateBright DECARBONIZATION TECHNOLOGIES TM BrightLoop ™ OxyBright ™ SolveBright ™ BrightGen™ CHEMICAL LOOPING OXYGEN-FUEL COMBUSTION POST-COMBUSTION CARBON CAPTURE HYDROGEN COMBUSTION  Pilot testing complete  Jointly developed with Th
Slide 10: B&W's Waste-to-Energy Technology Reduces Methane Emissions
B&W’s Waste-to-Energy Technology Reduces Methane Emissions  Methane has 84 times the Global Warming Potential (GWP) of CO2i  B&W’s state-of-the-art technology has been  Annual additions to landfills in the U.S.ii produce emissions installed in more than 500 units in more equivalent to 10 million
Slide 11: Recent Acquisition Activity Expands B&W's Renewable Segment
Recent Acquisition Activity Expands B&W's Renewable Segment Fosler Construction Company, Inc.: Solar Installation & Services  On September 30, 2021, B&W acquired a 60% controlling ownership stake in Fosler Construction Company, Inc., a leading U.S. provider of construction services for the solar en
Slide 12: Fosler Solar
Fosler Solar  Reputable Expertise Known for engineering, designing, deploying and maintaining reliable solar solutions  Diverse Experience Serving agricultural, commercial, educational, municipal and utility customers  Continuous Growth - Top 30 EPC contractor in the U.S. solar industry (Solar Po
Slide 14: Consolidated Financial Summary
Consolidated Financial Summary Three Months Ended Twelve Months Ended Twelve Months Ended Twelve Months Ended ($ in Millions) September 30, 2021* September 30, 2021* December 31, 2020* December 31, 2019 Pro forma Reported exc. non-recurring insurance recovery Revenue $ 160.0 $ 680.9 $ 566.3 $ 566.3
Slide 15: Capital Structure
Capital Structure ($ in Millions) As of Sep 30, 2021 Capitalization: Total Debt $193.1 (1) Cash, cash equivalents and restricted cash 115.7 Net Debt $77.4 Adjusted EBITDA: LTM 9/30/2021 Adjusted EBITDA (2) 57.8 (3) 2021 Target Adjusted EBITDA 70.0 Total Debt Leverage: Net Leverage (4) 1.34x (5) Targ
Slide 16: 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 18: Leadership Team
Leadership Team Chairman & Chief Executive Officer Kenny Young Chief Financial Officer Chief Operating Officer General Counsel Lou Salamone Jimmy Morgan John Dziewisz Corporate Development Human Resources & Investor Relations Jacqueline Opal Megan Wilson © 2021 Babcock & Wilcox Enterprises, Inc. All
Slide 19: 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 © 2021 Babcock & Wilcox Enterprises, Inc. All rights reserve
Slide 20: Key Market Drivers & Opportunities
Key Market Drivers & Opportunities Global drive toward renewable and reusable energy sources to limit carbon and methane emissions Increasing global regulatory restrictions on landfilling and methane benefit waste-to-energy Increasing investment in clean energy infrastructure and the hydrogen econom
Slide 21: 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, solar and carbon-capture solu
Slide 22: Financial Reporting Segments
Financial Reporting Segments Product and Key End Markets Service Overview Waste-to-Energy Waste-to-energy and biomass Biomass technologies, solar, energy storage, Pulp & Paper aftermarket equipment upgrades, Power parts and service General Industry Air emissions control and ash handling Power system
Slide 23: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (1) Three months ended September 30, Nine months ended September 30, $ in Millions $ in Millions 2021 2020 1) Figures may not be clerically 2021 2020 Adjusted EBITDA (2)(3) Adjusted EBITDA (2)(3) $ 42.3 $ 29.5 accurate due to rounding $ 18.7 $ 26.8 Restructuring activi
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (1) Twelve months ended $ in Millions Sep 30, 2021 Dec 31, 2020 Dec 31, 2019 1) Figures may not be clerically accurate due to Adjusted EBITDA (2)(3) 57.8 $ 45.1 $ 45.0 rounding Restructuring activities (13.1) (11.8) (11.7) 2) During the year ended December 31, 2020, we
Slide 25: Adjusted Gross Profit Reconciliation
Adjusted Gross Profit Reconciliation (3) Three months ended Nine months ended September 30, September 30, $ in Millions $ in Millions 2021 2020 2021 2020 Adjusted gross profit (1)(2) Adjusted gross profit (1)(2) Operating income (loss) Operating income (loss) $ 14.8 $ 14.1 $ 11.1 $ (3.9) Selling, ge
Slide 26: Adjusted Gross Profit Reconciliation
Adjusted Gross Profit Reconciliation (4) Twelve months ended $ in Millions Sep 30, 2021 Dec 31, 2020 Dec 31, 2019 Adjusted gross profit (1) (2)(3) Operating income (loss) $ 13.3 $ (1.7) $ (29.4) Selling, general and administrative ("SG&A") expenses 144.9 141.4 150.6 Advisory fees and settlement cost
Slide 28: Products & Services Across Our Brands
Products & Services Across Our Brands Decarbonization Energy storage Solar Steam Generation Technologies Natural Gas-fired Package Boilers New Build Boiler Auxiliaries Combustion Grates Construction Emissions Control Solutions Cooling Systems Ash and Material Handling Operations & Maintenance Field
Slide 29: Key Technologies: Clean Coal Solutions Ready for Deployment
Key Technologies: Clean Coal 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  Pilo
Slide 30: Key Technologies: BrightLoop Chemical Looping Combustion Platform
Key Technologies: BrightLoop™ Chemical Looping Combustion Platform Technology 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
Slide 31: Key Technologies: Steam Generation Technologies
Key Technologies: Steam Generation Technologies 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
Slide 32: 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 33: 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 34: 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 35: 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 36: 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 37: Key Technologies: Solar Installation
Key Technologies: Solar Installation  Engineering & Procurement  Construction Benefits of a solar • Project Cost Analysis • Grid Integration and Interconnection • Subcontractor Management addition: • On-Site Construction Management • Technical Evaluation • Coordination and Supervision of Projects
Slide 38: 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 39: 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 40: 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 (November 2021) on 6ix

Babcock & Wilcox Enterprises — Investor Presentation (November 2021)

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: Installed & Proven Technologies

Slide 7: Company Profile

Slide 8: 3-Year Pipeline

Slide 9: B&W's ClimateBright Decarbonization Technologies are Ready

Slide 10: B&W's Waste-to-Energy Technology Reduces Methane Emissions

Slide 11: Recent Acquisition Activity Expands B&W's Renewable Segment

Slide 12: Fosler Solar

Slide 13: Financial Information

Slide 14: Consolidated Financial Summary

Slide 15: Capital Structure

Slide 16: Executive Summary

Slide 17: Appendix

Slide 18: Leadership Team

Slide 19: Corporate Governance

Slide 20: Key Market Drivers & Opportunities

Slide 21: Key Growth Strategies

Slide 22: Financial Reporting Segments

Slide 23: Adjusted EBITDA Reconciliation

Slide 24: Adjusted EBITDA Reconciliation

Slide 25: Adjusted Gross Profit Reconciliation

Slide 26: Adjusted Gross Profit Reconciliation

Slide 27: Key Technologies

Slide 28: Products & Services Across Our Brands

Slide 29: Key Technologies: Clean Coal Solutions Ready for Deployment

Slide 30: Key Technologies: BrightLoop Chemical Looping Combustion Platform

Slide 31: Key Technologies: Steam Generation Technologies

Slide 32: Key Technologies: Renewable Combustion Grates

Slide 33: Key Technologies: Emissions Controls

Slide 34: Key Technologies: Steam Generation & Environmental Solutions

Slide 35: Key Technologies: Comprehensive Waste-to-Energy Solutions

Slide 36: Key Technologies: Submerged Grind Conveyor Ash Handling

Slide 37: Key Technologies: Solar Installation

Slide 38: Key Technologies: Short and Long Duration Energy Storage

Slide 39: Key Technologies: Cooling Systems

Slide 40: Key Technologies: Global Parts & Service

Slide 41: Babcock & Wilcox Enterprises, Inc.