Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 101

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 101
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| · | any provisions relating to         
 conversion of the debt securities. |

The foregoing is not intended to be an exclusive
list of the terms that may be applicable to any offered debt securities.

| 31 |

In addition, the 2021 Base
Indenture does not limit our ability to issue convertible, exchangeable or subordinated debt securities. Any conversion, exchange or
subordination provisions of debt securities will be described in the relevant prospectus supplement. Such terms may include provisions
for conversion or exchange, either mandatory, at the option of the holder or at our option, in which case the number of shares of common
stock or other securities to be received by the holders of debt securities would be calculated as of a time and in the manner stated
in the prospectus supplement.

We may issue debt securities
that provide for an amount less than their stated principal amount to be due and payable upon declaration of acceleration of their maturity
pursuant to the terms of the 2021 Base Indenture. We will provide you with information on the U.S. federal income tax considerations
and other special considerations applicable to any of these debt securities in the applicable prospectus supplement.

If we denominate the purchase
price of any of the debt securities in a foreign currency or currencies or a foreign currency unit or units, or if the principal of and
any premium and interest on any series of debt securities is payable in a foreign currency or currencies or a foreign currency unit or
units, we will provide you with information on the restrictions, elections, general tax considerations, specific terms and other information
with respect to that issue of debt securities and such foreign currency or currencies or foreign currency unit or units in the applicable
prospectus supplement.

Exchange and Transfer

Debt securities may be transferred or exchanged
at the office of the registrar or co-registrar designated by us.

We will not impose a service
charge for any transfer or exchange, but we may require holders to pay any tax or other governmental charges associated with any transfer
or exchange.

In the event of any redemption of debt securities
of any series, we will not be required to:

| · | issue,                                                                                                                               
 register the transfer of, or exchange, any debt security of that series during a period beginning at the opening of 15 business days 
 before the day of sending of a notice of redemption and ending at the close of business on the day such notice is sent; or           |

| · | register                                                                                                                             
 the transfer of or,