Company: BWNB
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001104659-25-034242
Chunk: 89

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 89
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 ​ | ​ |
| Product development                                             | ​ | ​ | ​                          | ​ |   8,228 | ​ | ​ | ​ | ​                             | ​ |    9,023 | ​ | ​ |
| Foreign exchange                                                | ​ | ​ | ​                          | ​ |     109 | ​ | ​ | ​ | ​                             | ​ |    2,594 | ​ | ​ |
| Financial advisory services                                     | ​ | ​ | ​                          | ​ |       — | ​ | ​ | ​ | ​                             | ​ |        — | ​ | ​ |
| Letter of credit fees                                           | ​ | ​ | ​                          | ​ |   7,036 | ​ | ​ | ​ | ​                             | ​ |    7,702 | ​ | ​ |
| Other — net                                                     | ​ | ​ | ​                          | ​ |   3,550 | ​ | ​ | ​ | ​                             | ​ |    3,837 | ​ | ​ |
| Adjusted EBITDA                                                 | ​ | ​ | ​                          | ​ |  68,895 | ​ | ​ | ​ | ​                             | ​ |   60,805 | ​ | ​ |

(1) Reflects adjustments to exclude discontinued operations on a retrospective basis as compared to the same period included in the 2024 Proxy Statement.

A-2

TABLE OF CONTENTS APPENDIX B *If Proposal 1 is approved, Article FIFTH of the Company’s Certificate of Incorporation will be amended as set forth in this Appendix B. If Proposal 4 is also approved, Article FIFTH of the Company’s Certificate of Incorporation will be further amended as set forth in Appendix C. FIFTH: (a) Directors . The business and affairs of the Corporation will be managed by or under the direction of the Board of Directors. In addition to the authority and powers conferred on the Board of Directors by the DGCL or by the other provisions of this Certificate of Incorporation, the Board of Directors hereby is authorized and empowered to exercise all such powers and do all such acts and things as may be exercised or done by the Corporation, subject to the provisions of the DGCL, this Certificate of Incorporation and any Bylaws of the Corporation; provided , however , that no Bylaws hereafter adopted, or any amendments thereto, will invalidate any prior act of the Board of Directors that would have been valid if such Bylaws or amendment had not been adopted.