B&W Subsidiary Awarded $35 Million Contract for Boiler for Sweden Waste to Energy Plant

December 21, 2016

(CHARLOTTE, N.C. – December 21, 2016) – Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that its Denmark-based subsidiary, Babcock & Wilcox Vølund A/S (B&W Vølund), has been awarded a contract for approximately $35 million to design, supply and construct a waste-to-energy boiler for a combined heat and power plant in Boden, Sweden.

B&W Vølund’s customer, Bodens Energi AB (BEAB), is a municipally owned producer and distributor of electricity and heating. The boiler, featuring a DynaGrate® combustion grate system and with a thermal capacity of 35 megawatts, will be added to BEAB’s existing plant and will supply steam for power generation and district heating. B&W Vølund completed the existing Boden facility in 2008.

“We thank BEAB for once again selecting B&W Vølund for an important infrastructure project such as this,” said Jimmy Morgan, senior vice president of B&W’s Renewable business segment. “Waste-to-energy continues to be a proven, clean and reliable technology to address the energy and waste disposal needs of our customers in Europe, and we’re pleased to supply some of the most advanced technologies in the industry.”

The new waste line and boiler will be capable of handling up to 13 tons of municipal solid waste per hour and is scheduled for completion in April 2019.

About B&W

Headquartered in Charlotte, N.C., Babcock & Wilcox is a global leader in energy and environmental technologies and services for the power and industrial markets. B&W companies employ approximately 5,700 people around the world. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com

Forward-Looking Statements

B&W cautions that this release contains forward-looking statements, including statements relating to the scope, timing and value, to the extent value may be viewed as an indicator of future revenues, of the BEAB contract. These forward-looking statements involve a number of risks and uncertainties, including, among other things, delays or other difficulties executing the BEAB contract and adverse modifications to the contract, including termination. If one or more of these or other risks materialize, actual results may vary materially from those expressed. For a more complete discussion of these and other risk factors, please see B&W's filings with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. B&W cautions not to place undue reliance on these forward-looking statements, which speak only as of the date this release, and undertakes no obligation to update or revise any forward-looking statement, except to the extent required by applicable law.

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