B&W Announces Record Date for its Common Stock Rights Offering

CHARLOTTE, N.C.–(BUSINESS WIRE)–$BW #BabcockWilcox–Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) announced today that
it has fixed March 15, 2018 as the record date for determination of
shareholders entitled to participate in B&W’s common stock rights
offering (the "Rights Offering"). Each shareholder will receive one
right (each, a "Right") for each whole share of common stock held of
record as of the record date. The subscription price for all shares of
common stock issued pursuant to the Rights Offering will be $3.00 per
share. The initial offering materials for the Rights Offering will
indicate that the Rights are non-transferable and may not be purchased
or sold. Additional terms and conditions of the Rights Offering will be
announced and provided in the offering materials.

As previously disclosed, B&W has received a commitment letter from
Vintage Capital Management, LLC to backstop the Rights Offering.

The Rights Offering is subject to the effectiveness of a post-effective
amendment to B&W’s existing Registration Statement on Form S-3 filed
with the Securities and Exchange Commission, which will be filed in the
near term. The Registration Statement is not complete and may be
changed. Shares of common stock issuable in the Rights Offering may not
be sold nor may offers to buy such common stock be accepted prior to the
time the amendment to the Registration Statement becomes effective.

The prospectus supplement relating to the Rights Offering and additional
materials relating to the Rights Offering will be sent to shareholders
after the record date.

The information in this press release is not complete and is subject
to change. This press release is not an offer to sell these securities
and is not soliciting an offer to buy these securities in any
jurisdiction where the offer or sale is not permitted. This press
release is not an offering, which can only be made by a prospectus
supplement.

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.

Contacts

Babcock & Wilcox
Investor Contact:
Chase Jacobson,
704-625-4944
Vice President, Investor Relations
[email protected]
or
Media
Contact:
Ryan Cornell, 330-860-1345
Public Relations
[email protected]