Babcock & Wilcox Enterprises, Inc. (“B&W”) (NYSE: BW) confirmed that it had received a non-binding indication of interest from Steel Partners, which beneficially owns 17.8% of B&W’s outstanding common stock, to acquire B&W in a transaction in which B&W shareholders would receive between $3.00 and $3.50 per share in cash. The non-binding indication of interest assumes the acquisition of all of B&W’s businesses, including its MEGTEC and Universal businesses. B&W announced last year that it was exploring strategic options for those businesses.

B&W said that its Board of Directors will review the Steel Partners non-binding indication of interest to determine the course of action it believes to be in the best interests of B&W and its stockholders.

There can be no assurance that the non-binding indication of interest will result in a transaction or on what basis or terms any transaction may occur. B&W does not intend to comment further with respect to the non-binding indication of interest unless and until further developments warrant.

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, and has been transforming our world for 150 years. Follow us on Twitter @BabcockWilcox and learn more at www.babcock.com.

Babcock & WilcoxInvestor Contact:Chase Jacobson, 704-625-4944Vice President, Investor Relationsinvestors@babcock.comorMedia Contact:Ryan Cornell, 330-860-1345Public Relationsrscornell@babcock.com

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