BWXT Subsidiary Awarded $151 Million in Contract Options for Naval Nuclear Reactor Fuel and Services

LYNCHBURG, Va.–(BUSINESS WIRE)–BWX Technologies, Inc. (NYSE:BWXT) announced today that the U.S. Naval
Nuclear Propulsion Program has exercised contract options with BWXT
subsidiary Nuclear Fuel Services, Inc. (NFS) totaling more than $151
million for fuel manufacture, development activities and decommissioning
work in support of the nation’s nuclear submarines and aircraft carriers.

The contract options were awarded in the fourth quarter of 2017. Work
under these contracts has already commenced, and the vast majority of it
will be completed during the remainder of 2018.

Joel W. Duling, NFS President, said, “Our employees work hard every day
to ensure the U.S. Navy’s nuclear-powered fleet has fuel of the highest
quality to successfully achieve its missions around the world.”

NFS has been the sole manufacturer of nuclear fuel for U.S. Navy
aircraft carriers and submarines for decades. The company employs a
workforce of approximately 1,000 people, including long-term contractors
and security personnel.

Forward Looking Statements

BWXT cautions that this release contains forward-looking statements,
including statements relating to the performance, timing, impact and
value, to the extent contract value can be viewed as an indicator of
future revenues, of the naval nuclear propulsion options and
any additional contract and/or option awards. These forward-looking
statements involve a number of risks and uncertainties, including, among
other things, modification or termination of the contract and delays.
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 BWXT’s annual report on Form
10-K for the year ended December 31, 2017 and subsequent quarterly
reports on Form 10-Q filed with the Securities and Exchange Commission.
BWXT cautions not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release, and
undertakes no obligation to update or revise any forward-looking
statement, except to the extent required by applicable law.

About BWXT

Headquartered in Lynchburg, Va., BWX Technologies, Inc. (NYSE:BWXT)
is a leading supplier of nuclear components and fuel to the U.S.
government; provides technical and management services to support the
U.S. government in the operation of complex facilities and environmental
remediation activities; and supplies precision manufactured components,
services and fuel for the commercial nuclear power industry. With
approximately 6,100 employees, BWXT has nine major operating sites in
the U.S. and Canada. In addition, BWXT joint ventures provide management
and operations at more than a dozen U.S. Department of Energy and NASA
facilities. Follow us on Twitter @BWXTech and learn more at www.bwxt.com.

Contacts

Media Contact
Nuclear Fuel Services, Inc.
Laura Bailey,
423-735-5494
Manager, Communications
lebailey@nuclearfuelservices.com
or
Investor
Contact
BWX Technologies, Inc.
Alan Nethery, 980-365-4300
Vice
President and Chief Investor Relations Officer
investors@bwxt.com