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© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 1 © 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 1 Milano, 2017-10-24 Marco Brugnoni B&W-SPIG Product Management, R&D Director SPIG per la Geotermia

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© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 1© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 1

Milano, 2017-10-24

Marco BrugnoniB&W-SPIG Product Management, R&D Director

SPIG per la Geotermia

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 2© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 2

B&W company overview

Milano, 2017-10-24

Marco BrugnoniB&W-SPIG Product Management, R&D Director

B&W-SPIG overview

MATChING - Horizon 2020

R&D program � Cooling system

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 3© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 3

Company Profile

1856 1867 1881 1921 1949 2007 2014 2015 2016

Global Leader in Energy and Environmental Technologies and Servicesfor Power and Industrial Markets

Headquarters: Charlotte, NC, USAIncorporation: Delaware, Founded 1867Revenue: ~$1.8 BOwnership: Public (NYSE: BW)Chairman & CEO: E. James FerlandEmployees: 5,000 employees (+2,500 at JVs)

in more than28 countries

Stephen Wilcox patents

the water tube boiler

The first central generating

station in the U.S. powered by

four B&W boilers

Awarded contracts to design

and build boilers for the S.S. United

States, the first American superliner

June 23, 2014: Acquires industrial products

and services firm MEGTEC

July 5, 2016: Acquires cooling

systems and services firm SPIG

George Babcock, Stephen Wilcox

and Joseph Manton establish

Babcock, Wilcox & Company

First pulverized coal boiler

made by B&W Consolidation of B&W and BWXT

operations, under the name

The Babcock & Wilcox Company

July 1, 2015: Completes spin-off, trades

as independent company, NYSE: BW

2017

January 11, 2017: Acquires

UniversalAET, a provider of acoustic,

emission and filtration systems

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 4© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 4

Zero is AchievableIncidents are Preventable

Safety is PersonalAll Day, Every Day

Willingness to Intervene

Proven results with continually improving

best-in-class performance

Comprehensive Global EHS&S Management

System with externally accredited operations (ISO, OSHAS, OSHA VPP)

• Our mission is to provide best-in-class and top decile performance, striving to be an industry leader and externally recognized leader.

Efficient, integrated, market differentiator.

Making Safety PersonalSustainable System, Talent & Capabilities

Getting Results

reduction in injury frequency, and

reduction in injury severity in 2016

20%

24%

*Benchmark for 1st quartile total recordable incidentrate (TRIR). The benchmark is comprised of a composite

of OSHA BLS data for B&W SIC codes

Target Zero – Our Global Safety Vision

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 5© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 5

Power Renewable Industrial• New Build Utility & Environmental• Retrofits & Continuous Emissions

Monitoring Systems• Global Parts & Field Engineering Services• Employees: 1,517

• Industrial Steam Generation & Environmental Solutions

• Wet and Dry Cooling Systems

• Acoustic Systems and Filtration Solutions

• Global Parts and Field Engineering Services

• Employees: 1,265

• Biomass-to-Energy Systems

• Waste-to-Energy Systems

• Operations & Maintenance Services

• Global Parts and Field Engineering Services

• Employees: 994

Markets We ServePower Generation

Pharmaceutical

Pulp & PaperWood Products

Coatings & Flexible Packaging

Oil, Gas & Chemical

Cement

Mining & Metals

Automotive

Iron & Steel

General Industry/ Manufacturing

Food Processing& Agriculture

WasteManagement

Strategic Focus Aligned With Business Segments

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 6© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 6

The Core of B&WStrong Foundation, Diversified, Positioned for Growth

B&W MEGTEC

KVB-Enertec™

Diamond Power®

Boiler CleaningEquipment &

Controls

EmissionsMonitoring Systems

Ash & MaterialHandling Systems

Allen-Sherman-Hoff® / Loibl

IndustrialEnvironmental

Wet & DryCooling Systems

Renewable,Waste-to-Energy

B&W SPIG

B&W Vølund

Acoustical Systemsand Filtration

B&W Universal

• People, Safety, Excellence, Technologyand Stewardship

• 150 Years of Experience

• Global Presence and Project Execution

• Technology Innovation Powering Best-in-Class Portfolio

• Highest Standards of Ethics, Integrity, Quality and Customer Satisfaction

Strength of our VALUES

Value from our STRENGTHS

Steam Generation and Environmental Solutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 7© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 7

Coal Fired Power PlantNatural Gas Combined

Cycle Power Plant

Strategic Growth to Broaden Our Scope

CEMSHRSG

Cooling Systems

Air Intake Filter SCR

Steam Generator and Burners

Cooling Systems

ParticulateControl

Flue Gas DeSOx

Ash Handling

CEMS

SCR DeNOx

Coal Milling System

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 8© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 8

Gibson Energy, Jamaica

Corporacion Edit Del Caribe S.R.L., Dominican Republic / Haiti

ATI-Division, Ecuador

Energotec, Peru

Tecnagent, Chile

J. Antonio, Uruguay DP II

ThermoPower, Venezuela

Fortune Engineering, Taiwan

Phothi-Ratana, Thailand

Power Ferrum, India

Diamond Power Specialty Ltd, Dumbarton, Scotland

Vølund A/S, Esbjerg, Denmark

BWBC, Beijing, China

TBWES, Pune, India

PT Chuck Eng, Batam, Indonesia

Samchang, Mulsan, S KoreaDPCEE, Poznan, Poland

B&W Turkey Global Sales, Istanbul, Turkey

EMCOL Ashdod, Israel

Tech-Quipped Corp, Manila, Philippines

Roberto Leyton, BD Chile

PT Babcock & Wilcox Asia, Jakarta, Indonesia

Diamond Power Site Services, Gainsborough Lines, UK

ICE Technology Co. Ltd, S Korea

Tenaga Tiub Sdn. Bhd, Malaysia

MEGTEC Service, Standish, UK

B&W Volund, UKMEGTEC Service, Göteborg, Sweden

MTS Environmental GMBH, Maintal, Germany

MEGTEC Service, Évry, France

MEGTEC Service, Pune, India

MEGTEC Service, Shanghai,

China

MEGTEC Service, Melbourne, Australia

Diamond do Brasil Limitada, Brazil

Controles DISA, Argentina

Tejada Ingenieros & CIA S.A. Columbia

H.S. Engineering, Mumbai, India

Volund, Warsaw, Poland

Vølund AB, Sweden

COTS, Ceyreste, France

Semortrade –Import Export, Portugal

Nirafon Eurosud SRL, Rodana, Italy

B&W Loibl, Germany

Diamond Power, Solletuna, Sweden

Diamond Power Finland

Diamond Power Hamburg, Germany

Diamond Power Zorbig, Germany

MEGTEC Systems, Kobe, Japan

Arvos K.K., Kobe, Japan

B&W International Inc., S Korea

Hailey & Mellows Pty. Ltd, Australia

Sung-Po Ent. Co. Ltd, Taiwan

Vietnam Elect. & informatics Corp. Vietnam

Diamond Power Machine Hubei, China

Victor Tejada - DPII

MEGTEC Rep, Spain

Marcos Pericelli, Brazil

Diamond Sales Rep

MEGTEC Rep, UAE

MEGTEC Rep, Greece

MEGTEC Rep, UK

MEGTEC Rep, Turkey

MEGTEC Rep, Romania

MEGTEC Rep, Victoria, Australia

Yarmouth, ME

Charlotte, NCColumbia, SC

Atlanta, GA

Birmingham, AL

Chattanooga, TNLouisville, KY

Houston, TX

Dallas, TX Fordland, MOKansas City, MO

St. Louis, MO

British Columbia

Alberta OntarioWaterloo(MEGTEC) Nova Scotia

Napa, CA

Farmington, NM

Denver, CO

Pine City, MN

Barberton, OHSomerset, OHLancaster, OHCincinnati, OHColumbus, OH

(MEGTEC)

Pittsburgh, PA

Harbor Springs, MIAnn Arbor, MI

Kronenwetter, WIMadison, WI

DePere, WI (MEGTEC)

Downers Grove, IL

Huntington Beach, CA

Mt. Holly, NJLuana, IA

Vero Beach, FL (MEGTEC)

B&W Lido

San Diego, CA (SPIG)Izmir, Turkey (SPIG)

Mumbai, India (SPIG)

Alfredo Rela, Brazil (SPIG)

Moscow, Russia (SPIG)

Oberhausen, Germany (B&W)

Jebel Ali Free Zone Dubai - U.A.E. (SPIG)

Seoul, S Korea, (SPIG)

Vanderbijlpakr, Gauteng, South Africa

Furmanite SingaporeB&W Singapore Pte. Ltd., Singapore

Hinckley, UK (Universal)

Pune, India (Universal)

Shanghai, China (Universal)

Bukit Batok, Singapore (Universal)

Vast sales network strategically located across the globeto provide real time interface and support

Global Sales Network

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 9© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 9

Worldwide Manufacturing FacilitiesManufacturing Plant Main Products

Beijing, China, (Joint Venture) Boilers, burners, SCRs

Dingxiang, China (SPIG) Condenser tube bundles

Pune, India (Joint Venture) Boilers, burners, pulverizers

DPII, Lancaster, OH Boiler cleaning equipment

Monterrey, Mexico Pressure parts, FM boilers

MEGTEC De Pere, WI Industrial emissions control equipment

DPII, Hubei, China Boiler cleaning equipment

Esbjerg, Denmark CHP/WTE boilers

Copley, OH (Service Center) Wear parts, pulverizer rebuilds

Tucker, GA Boiler cleaning equipment service center

DPII, Dumbarton, Scotland Boiler cleaning equipment

Western Svc Ctr, Salt Lake City, UT Wear parts, tubes, pulverizer rebuilds

MEGTEC Shanghai, China Industrial emissions control equipment

Loibl A-S-H, Straubing, Germany Material handling equipment

PTBWA-Jakarta, IndonesiaPower plant maint/services, Trading business (import/export): boilers, machineries, spare parts

MEGTEC Pune, India Industrial emissions control equipment

Newport News, VA Precipitator components, electrical

KVB-Enertec, Hatfield, PA Emissions monitoring

Exton, PA Material handling equipment

Kansas City, MO Service Center Wear parts, tubes, pulverizer rebuilds

Manufacturing Plant Main Products

Muscoda, WIExhaust and intake ducting, baffles, support structure, industrial silencers and filtration, locomotive silencers, pressure vessels, machined components, silencers

San Luis Potosi, Mexico Exhaust intake duct, baffles, support structure, diffuser, silencers, ducting, plenums, diffuser stacks, structural steel

Nashik, India Silencers, exhaust, intake duct, support structure, contract manufacturing

DPII, Skutskär, Sweden Auxiliary Equipment; boiler monitoring systems

DPII, Zörbig, Germany Auxiliary Equipment; Boiler Cleaning

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 10© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 10

Customized Solutions to Optimize Performance1 Steam Generation TechnologiesBoilers to burn any fuel, small package to high-capacity

2 Boiler Auxiliary EquipmentReliable components for cleaner, more efficient operations

3 Cooling Systems & ServicesPremier cooling technology for diverse industries and applications

4 Utility & Industrial Environmental TechnologiesIntegrated and customizable solutions for emissions control

5 Industrial Process TechnologiesSolutions for solvent and heat recovery and energy optimization

6 Drying & Coating SystemsProven solutions for printing and other process applications

7 Ash & Material HandlingCompletely dry bottom to fly-ash and petroleum coke processing

8 Global Technical Services & PartsSolutions for modifying, improving and maintaining equipment

B&W delivers high quality engineered

energy and environmental solutions

for utilities and industrial operations

worldwide.

As a technology innovator,

we provide a comprehensive package

of steam generation products,

emissions control systems, cooling

systems, process solutions for industry,

and aftermarket services to optimize

existing equipment.

We consistently demonstrate

the ability to successfully execute

innovative and customized solutions

for our customers.

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 11© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 11

FUEL POWER INDUSTRIAL RENEWABLE

Non-solid

Solid

Non-solid

Solid

Non-solid

Non-solid

Solid

Liquor

Derived

Non-solid

Waste

Biomass

Waste

Biomass

Solid (CFB)

1 Steam Generation Technologies

Ultra-SupercriticalHigher pressure, improved efficiency, emissions reduction

Subcritical/RadiantReliable, dependable units with features to lower maintenance

Heat Recovery Steam GeneratorsMaximizes recovery of energy from combustion turbines

Industrial Water Tube BoilerBottom or top supported, shop-assembled, modular, field erected

Process Recovery BoilerSingle-drum, industry-standard unit for improved mill operation

Multi-Fuel IndustrialReliable across wide range of heating, process and power applications

Grate-Fired RefuseAccommodates wide range of fuels, burned separately or in combination

Fluidized Bed BoilersFuel flexibility, high efficiency, low emissions and improved performance

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 12© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 12

Combustion systems and pulverizers (mills)

Boiler cleaning (air, steam and water sootblowers)

Controls and diagnostics

Ash and material handling systems

Emissions monitoring systems

2 Boiler Auxiliaries

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 13© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 13

Dry Cooling Systems

Air-Cooled Condensers

Air Fin Coolers

• Lower pressure

drop

• Higher thermal

efficiency

• No dead zones

• Lower fan power

consumption

• Lower sound

levels

• Lower weight per

surface area

• Higher corrosion

resistance

• G-Fin for high

thermal

or mechanical

stress, upper

temp limit, 400C

• L-Fin for low temp

applications, tube

corrosion

protection, upper

temp limit, ~130C

• Galvanized and

extruded fin tubes

Wet Cooling Systems

Natural Draft Cooling Towers

Mechanical Draft Cooling Towers

Wet/dry cooling towers

• No fans utilized

• Saves power

• Emits lower noise

• Limited

maintenance

• Long operating life

cycle

• Counter flow for

cost-effective

thermal

performance

(induced or forced

draft lay-out)

• Crossflow for lower

energy

consumption and

operating costs

• Plume abetment

• Reduce water

discharge

• L-fin HE pipes with

dampers on-off

automated

regulation.

3 Cooling System TechnologiesParallel Systems

ACCs + Wet C.T.

• Optimal compromise

between performance

and overall plant lay-out

dimension

• Using Dry configuration

in Winter no visible

plume is granted

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 14© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 14

4 Utility Environmental SolutionsEmission Technology Solution

Particulate Control• Pulse Jet Fabric Filter / Baghouse

• Wet and Dry ESPs

NOX Control• SCR

• SNCR

• Low NOX Burners – PC & HFO

SO2 / Acid Gas Control

• Wet Scrubbers / Acid Gas Absorbers

• Spray Dry Absorbers

• Dry Sorbent Injection

• Circulating Dry Scrubber

• Seawater Scrubber

Acid Mist Control• Wet ESPs

• Dry Sorbent Injection

Mercury, Dioxinsand Furans

• Powdered Activated Carbon (PAC) Injection

• Absorption Plus™, MercPlus™, Mitagent™

Emissions Monitoring• Continuous Emissions Monitoring Systems (CEMS)

• Data Acquisition & Handling Systems (DAHS)

Wastewater Elimination• Wastewater Evaporation System (WES)

via Spray Drying

Complete Portfolio

of Advanced, Integrated

& CustomizedEmissions

ControlSolutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 15© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 15

4 Industrial Environmental SolutionsEmission Technology Solution

Particulate Control

• Pulse Jet Fabric Filter / Baghouse• Wet and Dry ESPs• Multiclone® Dust Collectors• Wet Particulate Scrubbers

NOX Control • SCR• SNCR

SO2 / Acid Gas Control• Wet Scrubbers / Acid Gas Absorbers• Spray Dry Absorbers• Dry Sorbent Injection

Acid Mist Control • Wet ESPs• Dry Sorbent Injection

VOC/CO/HAP Control• Regenerative Thermal Oxidizers (RTOs)• Regenerative Catalytic Oxidizers (RCOs)• Catalytic Recuperative Oxidizers

Mercury, Dioxinsand Furans

• Powdered Activated Carbon (PAC) Injection• Evaporative Gas Cooling & Conditioning

Emissions Monitoring • Continuous Emissions Monitoring Systems (CEMS)• Data Acquisition & Handling Systems (DAHS)

Odor Control• Oxidizers• Adsorption Systems• Biological Abatement

Complete Portfolio

of Advanced, Integrated

& CustomizedEmissions

ControlSolutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 16© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 16

5 Industrial Process Technologies

Process Technology Solution

Solvent Recovery,

Distillation & Purification

• Solvent Recovery Systems

• Distillation & Purification Systems

Heat Recovery & Process

Energy Optimization

• Heat Recovery for use with Oxidizers

• Heat Recovery for use with Solvent

Recovery Systems

Flue Gas Temperature Control• Evaporative Gas Cooling & Conditioning

• Turbotak Atomizing Nozzles

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 17© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 17

6 Drying and Coating Systems

Process Technology Solution

Ovens/Dryers for Printing,Converting & Advanced Material Applications

• Air Flotation Dryers

• Roll Support Dryers

• Belt or Conveyor Ovens

• Infrared or Combination

Convection/Infrared

Web Handling Lines

for Printing Applications

• Air Turns

• Splicers

Specialized Coating Lines

for Energy Storage Applications

• Specialized Coating Lines

• Lab Coater

Development Center • Pilot Coating Line• Drying Lab

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 18© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 18

7 Ash and Material Handling

In-feed Systems

Bottom-Ash Handling Systems

Refuse-Derived Fuel Handling

FGD Gypsum Conveying Systems

Fly Ash Handling Systems

Ash Dewatering Solutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 19© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 19

Replace pie charts with photos

8 Complete Noise Control Solutions

System integrated components of a complete noise control solutionfrom intake to exhaust

Products Solutions

• Absorptive Silencers

• ASME Code Pressure Vessels

• Blower Silencers

• Enclosures

• Engine Exhaust Silencers

& Systems

• Filtration

• Gas Turbine Inlet/Exhaust

System

• Vacuum Pump Separator

Silencers

• Vent Silencers

• Acoustic (silencing)

• Backup Power

• Complete Air Management

• Enclosures

• Fabrication & Machining

• Field Services

• Filtration

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 20© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 20

Solutions Systems Benefits

TurbineSilencers, stacks, structural

steel, exhaust systems

• Cost-effective design

• Engineered to balance air filtration

and acoustic treatment

• Optimal turbine performance

Engine

Silencers, stacks, catalysts,

enclosure gensets, exhaust

manifolds, locomotive exhaust

components, turbo inlet scrolls

• Best performance for all applications

• Noise reduction

• Back pressure minimization

• Temperature management

• Optimization of flow

• Structural integrity

• Emissions treatment

Industrial

Process

Blower packages, blowdown

silencers, high pressure vent

silencers, ASME code vessels

• Design solutions for all filtration

and acoustic requirements/challenges

• Wide range of materials and paints

3

8 Acoustic, Emission and Filtration Solutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 21© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 21

8 Turbine SolutionsSolutions Systems

Gas Turbine

Inlet Systems

Custom inlet system design and manufacturing, acoustic

modeling, structural analysis, thermal and aerodynamic

analysis, inlet silencers, filtration systems, anti-icing, inlet

cooling, ductwork, fogging systems, enclosures

Gas Turbine

Exhaust Systems

Custom exhaust system design and manufacturing,

acoustic modeling, structural analysis, thermal and

aerodynamic analysis, exhaust silencers, ducting,

dampers, structural steel, emissions packages, stacks,

platforms, plenums, expansion joints, catalyst, insulation

blankets, enclosures

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 22© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 22

Field Engineering Services

• Commissioning

• Tuning• Technical Support• Inspections

8 Global Parts & Service

Single Source Solution for Highly Engineered Parts and Service

Chute-to-Stack

• Pulverizers and Components

• Burners and Ignitors (including FPS ignitors)

• Sootblowers and Intelligent Controls

(steam, air and water)

• Pressure Parts and Attemperators

• Airheaters and Airheater Cleaning Systems

• Bottom Ash Handling Systems

• Fabric Filters

• Electrostatic Precipitators (wet and dry)

• Fly Ash Handling Systems

• Spray Dry Absorber

(including Niro atomizers)

• Circulating Dry Scrubber

• Wet FGD (limestone and lime)

Boiler Particulate Control Sulfur Removal Emissions

• Complete portfolio of

KVB-Enertec™ Products and

Solutions for Continuous

Emissions Monitoring Systems

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 23© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 23

Milano, 2017-10-24

Marco BrugnoniB&W-SPIG Product Management, R&D Director

B&W company overview

B&W-SPIG overview

MATChING- Horizon 2020

R&D program � Cooling system

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 24© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 24

SPIG HistorySPIG (Società per Impianti Generali) was founded in 1936

by Engg. Fernando Bonati and Agar Sorbatti to design,

build and commission cooling systems and cooling towers.

SPIG became part of the United Dominion Industries in

1996. the following year the Company moved from Milan

to actual headquarter in Arona on Lake Maggiore.

In 2003 the 3rd generation of the Company’s founders,

Eng.Jurek and Dott.Ferdy Mosiewicz, bought the SPIG

brand and related Goodwill back from SPX.

In 2010 p.e. found AMBIENTA entered in SPIG Company

with 30% share to support international growth.

July 2016 Babcock & Wilcox USA Company acquired SPIG,

named later B&W-SPIG.

Head-quarter is located in Arona (Italy). Over the years the

company’s business has evolved considerably, making SPIG

one of the leading worldwide providers of Cooling Towers,

Air Cooled Condensers, Airf-in coolers and associated

Services.

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 25© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 25

B&W-SPIG in the world

SPIG USA IncSan Diego USA

SPIG MIDDLE EASTDubai UAE

SPIG KÜHLTURM TECH. GmbHOberhausen GERMANY

SPIG TORRES DE RESFRIAMENTO ltdaItatiba BRASIL

SPIG COOLING TOWER INDIA Pvt LtdMumbai INDIA

SPIG VOSTOKMoscow RUSSIA

SPIG SOGUTMA Izmir TURKEY

SPIG KoreaSeoul S.Korea

SPIG ShanxiShanxi China

SPIG SpAAroma ITALY

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 26© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 26

Organization Chart

M. Bunton

CEO

F. Curcio

NEW BUILD SALES

F. Meliti

SPARES & SERVICE

P. Tarchiani

OPERATIONS

A. Santini

ENGINEERING

M. Brugnoni

PRODUCT M. R&D

D. Bernasconi

CFOLegal Entities

Country Managers

250 direct employee in different SPIG’s locations around the worlds (excl JV in China, DCS Company)

Revenues in 2015 were 168ML€ and 15ML€ gross profit.

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 27© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 27

Cooling System Solutions and Services

Specialized capabilities, including noise and vibration control, plume abatement, Paralel systems and water saving technologies.

Wet Cooling Systems• Mechanical and Natural Draft

• High Seismic Loads

• Vibration Control

• Corrosion Resistance

• Noise Control

• Sub-freezing Operation

• Sea Water use

• Manufactured with fiber reinforced polymer (FRP), concrete or wood

Dry Cooling Systems• Air-cooled condensers (ACC)

• Air fin coolers (AFC)

• Water preservation

• Environmentally sound technology

• No hot water discharge

• Requires limited maintenance

• Parallel systems

Aftermarket Services• Committed to assure high quality and

outstanding service

• Optimize customers’ plant performance for profitability and costs reduction

• UNICO, a Global Service Online System, monitors and analyzes critical performance data on Cooling Towers and ACCs in operation

• Faster Customer oriented solutions

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 28© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 28

WET cooling systems

Blowdown water

Make-up water

Hot Water

Ambient Air

Exhaust Air

Cold Water

Wet Cooling Tower� Direct contact water/air� Mass transfer� Very High efficiency cooling � High water consumption

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 29© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 29

WET cooling systems

MECHANICAL COUNTERFLOW CT

HYBRID CT

NATURAL DRAFT CT

� Large, Customized, Field Erected� Water Flowrate > 2000 m3/h� Structure in RCC, FRP, Steel, Wood� Industrial, Brackish, Sea Water� Film and Splash Filling� Patented Components

MECHANICAL CROSSFLOW CT � Design � Delivery of structure and components � Erection (through sub-contractors)� Extended scope:

� Circulating Pumps� Water chemical treatment� Side stream filters� Piping� Electrical, Lighting, Instruments� Fire fighting� Civil works design

Cooling tower characteristics

Scope of Supply

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 30© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 30

DRY cooling systems (condesing)

AIR COOLED CONDENSER� Direct Condensing� Higher Thermal Efficiency� Lower Aux Load

AIR FIN COOLER (WATER COOLED CONDENSER)� Indirect Condensing� Reduced Thermal Efficiency� Geometric Flexibility� Higher Aux Load

STEAM TURBINE

STEAM TURBINE

WCC

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 31© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 31

DRY cooling systemsINDUCED DRAFT AIR FIN COOLERS

STEAM VACUUM CONDENSERS

PRESSURIZED CONDENSERS

� Large, Customized, Field Erected� Water Flowrate > 2000 m3/h� Structure in Steel� Demi water, oil, mixture� Multirow tubes (G-Fin, L-Fin, extruded)

FORCED DRAFT AIR FIN COOLERS

� Design, Delivery� Erection (through sub-contractors)� Extended scope:

� Circulating, condensate Pumps� Piping Electrical, Lighting,

Instruments� Deareator, Expansion and draining

tank

AFC characteristics

Scope of Supply

� Large, Customized, Field Erected� Steam Flowrate > 2 tons/h� Structure in Steel� Water steam, butane, propane, NG� Multirow tubes (G-Fin, L-Fin, extruded)� Single row tubes

ACC characteristics

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 32© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 32

Parallel condensing systems

STEAM TURBINE

WCC

COOLING TOWER

AIR COOLED CONDENSER (ACC)

� In “Normal” ambient condition ACC is running� In summer time ambient temperature peak, the CT is switched ON to get benefit of the lower WBT� Minimize water consumption� Maximize Performances of the steam turbine (Best achievable backpressure)

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 33© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 33

Flagship Projects

ACC ANSALDO GEBZE TURKEYCommercial Operations 2014

� Combined Cycle Power Plant� 850 MWe� 715 t/h @ 68 mbara, 15 °C� (42) 6 streets x 7cell x 36’ fan� 8.4m ESD diameter� Stringent Noise Limitations

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 34© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 34

Flagship Projects

ACC SIEMENS BANDIRMA TURKEYCommercial Operations 2015

� Combined Cycle Power Plant� 400 MWe� 503 t/h @ 67 mbara, 15 °C� (25) 5streets x 5cells x 36’ fan� 7m ESD diameter

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 35© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 35

Flagship Projects

AFC AUXSIEMENS BANDIRMA TURKEYCommercial Operations 2015

� Combined Cycle Power Plant� 12 MW heat rejection� 1600 m3/h, water+glycole� 12 x 12’ fan� Humidification

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 36© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 36

Flagship Projects

ACC + AFC AUXGAMA KIRIKKALE TURKEYCommercial Operations 2016

� Combined Cycle Power Plant� 900 MWe� 723 t/h @ 68 mbara, 15°C� (40) 8streets x 5cells x 36’ fan� 8m ESD diameter� -22°C Low Temperature control� High Seismic Area� Duct design challenging

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 37© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 37

Flagship Projects

AFC main + AFC auxOGK2 SEROV RUSSIACommercial Operations 2015

� Combined Cycle Power Plant� 420 MWe� 19800+3000 m3/h demi water� 21+3 cells x 34’ fan RFC� -49 °C Operations� Hot box mode� Steam Coil� Emergency Drainage system� Automatic refilling� Humidification for summer

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 38© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 38

Flagship Projects

AFC main + AFC auxTPP12 MOSCOW RUSSIACommercial Operations 2015

� Combined Cycle Power Plant� 220 MWe� 13000+2500 m3/h demi water� 38+7 cells x 18’ fan � -42 °C Operations� Hot box mode� Steam Coil� Emergency Drainage system� Automatic refilling� Humidification for summer

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 39© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 39

Flagship Projects

FRP HYBRID CTBECHTEL RUSSEL CITY USACommercial Operations 2013

� Combined Cycle Power Plant� 600 MWe� 26000 m3/h brackish water� 10 cells x 34’ fan FRP� High Seismic design � California Building Code

compliance

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 40© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 40

Flagship Projects

RCC CTSIEMENS PEGO PORTUGALCommercial Operations 2011

� Combined Cycle Power Plant� 830 MWe� 22000 m3/h industrial water� 8 cells x 34’ fan FRP� High Seismic design � Stringent Noise Limitations� IN/OUT baffles

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 41© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 41

Flagship Projects

FRP SEA WATER CTIBERINCO MESAIEED QATARCommercial Operations 2009

� Combined Cycle Power Plant� 2000 MWe� 3 x 14500 m3/h sea water� 3 x 11 cells x 32’ fan FRP� High Corrosion Env. � Sand Storms

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 42© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 42

Flagship Projects

FRP CTESSAR JHARKHAND INDIACommercial Operations 2011

� Combined Cycle Power Plant� 2 x 600 MWe� 4 x 42000 m3/h water� 4 x 12 cells x 34’ fan FRP� Civil Design included

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 43© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 43

Flagship Projects

ORC A.C.CONDENSERPAMUKOREN TURKEYCommercial Operations 2012

� Geotherml Power Plant� Organic Rankine Cycle 45MWe� 2590 tons/h butane/propane� 112 x 20’ fan Alu� High Seismic design

© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 77© 2017 The Babcock & Wilcox Company. All rights reserved. Proprietary and Confidential 77

B&W’s Commitment

As your dedicated point of contact at B&W, your satisfaction is our top priority.

B&W-SPIG Sales Director: Franco Curcio

Tel: +39.0322.245.401 (direct .517)

Email: [email protected]

B&W-SPIG PL and R&D Director: Marco Brugnoni

Tel: +39.0322.245.401 (direct .465)

Email: [email protected]

We are committed to earning your trust, building upon our relationship, meeting your goals and exceeding your expectations