Babcock & Wilcox Enterprises, Inc.

We are a globally-focused energy technologies provider with nearly 160 years of experience. We offer diversified energy and emissions control solutions to industrial, electrical utility, municipal, and other customers. We support global energy needs and baseload power demand by providing advanced technologies that use coal, natural gas, hydrogen, waste, and biomass to produce energy, environmental solutions, and carbon capture systems. Our platforms help utilities, data centers, oil and gas, and other industries meet rising demand, and our aftermarket services maintain existing power plants. Our advanced environmental and decarbonization technologies reduce greenhouse gases and other emissions and capture carbon. We are also investing in new coal and natural gas technologies to produce steam or hydrogen from solid fuels while isolating and capturing CO2. In the fourth quarter of 2025, we reassessed our segment structure after completing a strategic shift to streamline and simplify our business, which included divesting certain non-core assets. As a result, we have one reportable segment, B&W. This revised segment presentation has been applied retrospectively to all periods presented. Our installed base of steam generation equipment includes aftermarket parts, construction, maintenance, and field services. We have an extensive global base of installed equipment for utilities and general industrial applications such as refining, petrochemical, food processing, and metals. We provide aftermarket parts, construction, maintenance, engineered upgrades, and field services for our installed base and that of other original equipment manufacturers. Additionally, we provide complete steam generation systems, including package boilers, watertube and firetube waste heat boilers, and other boilers to medium and heavy industrial customers.