Babcock & Wilcox Announces Extension of Expiration Date to Its Cash Tender Offer For Two Series of Notes

Babcock & Wilcox Enterprises, Inc. (“B&W” or the “Company”) (NYSE: BW) announced today an amendment to its previously announced offers to purchase for cash (the “Cash Offers”) up to a maximum $70 million aggregate amount of Tender Consideration of the Company’s 8.125% Senior Notes due 2026 (the “February 2026 Notes”) and 6.50% Senior Notes due 2026 (the “December 2026 Notes” and, together with the February 2026 Notes, the “Notes”). The Cash Offers are being made upon the terms and subject to the conditions set forth in the Offer to Purchase, dated June 5, 2025, as amended (the “Offer to Purchase”). The amendment provides for an extension of each of the Withdrawal Deadline and the Expiration Date of the Cash Offers to 5:00 p.m., New York City time, on August 15, 2025. Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase.

The following table sets forth the principal amount of Notes validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on July 11, 2025.

Title of Series of Notes to be Purchased	CUSIP No.	Outstanding Principal Amount as of June 5, 2025 (in millions)	Principal Amount Tendered (in millions)
8.125% Senior Notes due 2026	05614L 308	$109.02	$13.23
6.500% Senior Notes due 2026	05614L 506	$103.63	$7.32

Our obligation to complete the Cash Offers is conditioned on the consummation, prior to or concurrently with the Expiration Date, of (i) the sale, to certain legal entities affiliated with Andritz AG, of the equity interests of Diamond Power International, LLC (“Diamond Power”) and related legal entities, together with assets related to the Diamond Power business and (ii) the receipt of net proceeds from such sale in an amount sufficient to fund the Cash Offers, assuming the maximum Tender Consideration of $70 million (the “Diamond Power Closing Condition”). As of 5:00 p.m., New York City time, on July 11, 2025, the Diamond Power Closing Condition was not satisfied.