Global Power Group

5 October 2015

2

Gary Nedelka

President of GPG since 2000

Joined Foster Wheeler in 1979

Prior company experience

President Foster Wheeler Power Group Asia (10 years)

VP Operations FWESA Spain (1 year)

Engineering and proposalproject management

Start up and commissioning

Current industry roles

Member ASME

Member AmericanChina Chamber of Commerce

Prior registered Professional Engineer State of New Jersey

Board Member Cotton Industries

Group President Global Power Group

Insert picture of

Gary

GPG overview

Leader in designing circulating fluidized bed steam generators (CFBs)

Growing heat recovery steam generators (HRSGs) offering

Developing full suite of clean air technologies

4 manufacturing facilities totaling over 2 million man-hoursyear

capacity

Flexible capacity through alliances

Aftermarket services

Full spectrum of service and equipment upgrades

A global business with more than 2000 highly-skilled people

3

GPG headline financials

4

pound million 2015 H1 2014 2013 2012

Scope revenue 195 451 501 605

Trading profit 21 691 109 130

Trading margin 108 153 218 215

Order book (poundbn) 04 04 04 05

Lumpier revenue profile than rest of Amec Foster Wheeler

10 projects represent almost 60 of orders for the past three years

100 fixed price contract style

Continue to expect average margins in low teens

More than pound300m of work awarded but not in order book

Only included in the order book when customer takes final decision to proceed

1 2014 profits includes a one off license settlement of cpound20m

Business model

Proprietary technology and IP

417 patents and 126 pending

RampD budget of cpound5m pa

c2 of revenue comes from royalties

Typical contract is Design amp Supply (DampS)

4 major manufacturing facilities

Network of subcontractors and vendors

Services (full line)

Condition assessment and upgrades

Engineered pressure parts

Off-the-shelf replacement parts

Build own andor operated (BOO)

2 plants (1 US 1 Chile) operated

6 assets in Italy non-operated

Revenue split 2010-2014

Boilers58Service

25

Environmental1

LicensesOther6 BOO

10

5

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

2

Gary Nedelka

President of GPG since 2000

Joined Foster Wheeler in 1979

Prior company experience

President Foster Wheeler Power Group Asia (10 years)

VP Operations FWESA Spain (1 year)

Engineering and proposalproject management

Start up and commissioning

Current industry roles

Member ASME

Member AmericanChina Chamber of Commerce

Prior registered Professional Engineer State of New Jersey

Board Member Cotton Industries

Group President Global Power Group

Insert picture of

Gary

GPG overview

Leader in designing circulating fluidized bed steam generators (CFBs)

Growing heat recovery steam generators (HRSGs) offering

Developing full suite of clean air technologies

4 manufacturing facilities totaling over 2 million man-hoursyear

capacity

Flexible capacity through alliances

Aftermarket services

Full spectrum of service and equipment upgrades

A global business with more than 2000 highly-skilled people

3

GPG headline financials

4

pound million 2015 H1 2014 2013 2012

Scope revenue 195 451 501 605

Trading profit 21 691 109 130

Trading margin 108 153 218 215

Order book (poundbn) 04 04 04 05

Lumpier revenue profile than rest of Amec Foster Wheeler

10 projects represent almost 60 of orders for the past three years

100 fixed price contract style

Continue to expect average margins in low teens

More than pound300m of work awarded but not in order book

Only included in the order book when customer takes final decision to proceed

1 2014 profits includes a one off license settlement of cpound20m

Business model

Proprietary technology and IP

417 patents and 126 pending

RampD budget of cpound5m pa

c2 of revenue comes from royalties

Typical contract is Design amp Supply (DampS)

4 major manufacturing facilities

Network of subcontractors and vendors

Services (full line)

Condition assessment and upgrades

Engineered pressure parts

Off-the-shelf replacement parts

Build own andor operated (BOO)

2 plants (1 US 1 Chile) operated

6 assets in Italy non-operated

Revenue split 2010-2014

Boilers58Service

25

Environmental1

LicensesOther6 BOO

10

5

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

GPG overview

Leader in designing circulating fluidized bed steam generators (CFBs)

Growing heat recovery steam generators (HRSGs) offering

Developing full suite of clean air technologies

4 manufacturing facilities totaling over 2 million man-hoursyear

capacity

Flexible capacity through alliances

Aftermarket services

Full spectrum of service and equipment upgrades

A global business with more than 2000 highly-skilled people

3

GPG headline financials

4

pound million 2015 H1 2014 2013 2012

Scope revenue 195 451 501 605

Trading profit 21 691 109 130

Trading margin 108 153 218 215

Order book (poundbn) 04 04 04 05

Lumpier revenue profile than rest of Amec Foster Wheeler

10 projects represent almost 60 of orders for the past three years

100 fixed price contract style

Continue to expect average margins in low teens

More than pound300m of work awarded but not in order book

Only included in the order book when customer takes final decision to proceed

1 2014 profits includes a one off license settlement of cpound20m

Business model

Proprietary technology and IP

417 patents and 126 pending

RampD budget of cpound5m pa

c2 of revenue comes from royalties

Typical contract is Design amp Supply (DampS)

4 major manufacturing facilities

Network of subcontractors and vendors

Services (full line)

Condition assessment and upgrades

Engineered pressure parts

Off-the-shelf replacement parts

Build own andor operated (BOO)

2 plants (1 US 1 Chile) operated

6 assets in Italy non-operated

Revenue split 2010-2014

Boilers58Service

25

Environmental1

LicensesOther6 BOO

10

5

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

GPG headline financials

4

pound million 2015 H1 2014 2013 2012

Scope revenue 195 451 501 605

Trading profit 21 691 109 130

Trading margin 108 153 218 215

Order book (poundbn) 04 04 04 05

Lumpier revenue profile than rest of Amec Foster Wheeler

10 projects represent almost 60 of orders for the past three years

100 fixed price contract style

Continue to expect average margins in low teens

More than pound300m of work awarded but not in order book

Only included in the order book when customer takes final decision to proceed

1 2014 profits includes a one off license settlement of cpound20m

Business model

Proprietary technology and IP

417 patents and 126 pending

RampD budget of cpound5m pa

c2 of revenue comes from royalties

Typical contract is Design amp Supply (DampS)

4 major manufacturing facilities

Network of subcontractors and vendors

Services (full line)

Condition assessment and upgrades

Engineered pressure parts

Off-the-shelf replacement parts

Build own andor operated (BOO)

2 plants (1 US 1 Chile) operated

6 assets in Italy non-operated

Revenue split 2010-2014

Boilers58Service

25

Environmental1

LicensesOther6 BOO

10

5

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

Business model

Proprietary technology and IP

417 patents and 126 pending

RampD budget of cpound5m pa

c2 of revenue comes from royalties

Typical contract is Design amp Supply (DampS)

4 major manufacturing facilities

Network of subcontractors and vendors

Services (full line)

Condition assessment and upgrades

Engineered pressure parts

Off-the-shelf replacement parts

Build own andor operated (BOO)

2 plants (1 US 1 Chile) operated

6 assets in Italy non-operated

Revenue split 2010-2014

Boilers58Service

25

Environmental1

LicensesOther6 BOO

10

5

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

Circulating Fluidized Bed (CFB) boilers Waste heat boilers

Heat Recovery Steam generators

Bubbling Fluidized Bed (BFB) boilers PC boilers

Gasifiers

GPG has delivered 236 GWehellipNearly 3 times the current UK capacity

Units MWe

PC 338 111337

CFB 440 33781

Oil amp Gas 325 41969

HRSG 448 30891

Industrial 1052 15578

Solar 50 2209

Total 2653 235765

Total sold units

Industrial Includes PKB WHB Grate BFB Source Company database6

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

Products and services

Steam generators

Circulating Fluid Bed (CFB)

Pulverized Coal (PC)

Utility Oil amp Gas

Bubbling Fluid Bed (BFB)

Grate

Waste heat

Package

HRSG

Solar

Manufacturing

RampD

Aftermarket services

Engineered and

replacement pressure parts

Weld overlay and

refractory upgrades

Replacement parts

Cyclone burner retrofits

Coal mill service and

upgrade

Boiler and HRSG

maintenence

Outage construction

Performance enhancements

Boiler and APC retrofits

Environmental products

CFB scrubbers

Wet FGD systems

Dry Sorbent Injection (DSI)

Spray Dry Absorbers (SDA)

Dry and Wet ESPs

Fabric Filters (FF)

Cartridge Collectors (CC)

Flue gas CFD modeling

SCR and SNCR systems

Mill and classifier upgrades

Low NOx Burners (LNB)

RampD

Auxiliary equipment

Condensers

Feedwater heaters

Biomass gasifiers

Manufacturing

RampD

Plant ownership

Operations

Maintenance

Steam amp electric sales

Plant operation and maintenance (OampM)

7

8

Selected customers partners

Operators EPC contractors Licensees

8

Selected customers partners

Operators EPC contractors Licensees

Technology and products

9

Steam power plant fundamentals

Fuel is combusted within the boiler

(steam generator) and its heat

produces steam from feed water

The steam is used to power a

turbine which drives a generator

which produces electricity

The steam from the turbine is

condensed and returns to the boiler

as feed water

The flue gas from combustion leaves

the boiler and is cleaned before

emitting to atmosphere

10

CFB versus PC designCFB clean coal power technology

Finishing

Superheater

Sootblowers

Milling and Fuel

Transport Systems

SCR

Low Nox

Burners

OFA

Supercritical PC

Secondary

Superheater

Primary

Superheater

ReheaterVertical Tube

Evaporator

SuperReheaters

Protected in

INTREX

Supercritical CFB

SNCR

Gravity Feed

Fuel System

Primary

Superheater

Super or

Evap heating

SCR

(if needed)

11

Benefits of CFB technology

Flue gas

800-900oC

(1472-1652oF)

800-900oC

(1472-1652oF)

45-50 ms

(15-16 fts)

Limestone

lt1 mm

(004 in)

Coal

lt10 mm

(04 in)

Biomass

lt50 mm

(20 in)

Air

Low combustion temperature reduces boiler

maintenance

Long burning times lead to high efficiency and

low emissions

Very high fuel flexibility

12

Benefits of CFBs (2)

13

Technical advantages

Low (850 ordmC) combustion temperature

prevents ash fouling and corrosion

Long burning times for high combustion

efficiency even with slow burning fuels

Naturally low NOx due to low combustion

temperature

SOx captured by limestone in boiler as

fuel burns wo water

Very high fuel flexibility due to large

thermal inertia

No coal mills dryers or burners

Stable process not sensitive to fuel

quality change

Fuel flexibility advantages

Mix of coals including high sulphur

Waste coal

Bituminous gob anthracite culm

Industrial by-products

Wood waste pet coke

Agricultural waste

Rice husks bagasse pith oat hulls

Waste fuels

Tyre derived refuse refinery bottoms

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Steam power plant fundamentals

Fuel is combusted within the boiler

(steam generator) and its heat

produces steam from feed water

The steam is used to power a

turbine which drives a generator

which produces electricity

The steam from the turbine is

condensed and returns to the boiler

as feed water

The flue gas from combustion leaves

the boiler and is cleaned before

emitting to atmosphere

10

CFB versus PC designCFB clean coal power technology

Finishing

Superheater

Sootblowers

Milling and Fuel

Transport Systems

SCR

Low Nox

Burners

OFA

Supercritical PC

Secondary

Superheater

Primary

Superheater

ReheaterVertical Tube

Evaporator

SuperReheaters

Protected in

INTREX

Supercritical CFB

SNCR

Gravity Feed

Fuel System

Primary

Superheater

Super or

Evap heating

SCR

(if needed)

11

Benefits of CFB technology

Flue gas

800-900oC

(1472-1652oF)

800-900oC

(1472-1652oF)

45-50 ms

(15-16 fts)

Limestone

lt1 mm

(004 in)

Coal

lt10 mm

(04 in)

Biomass

lt50 mm

(20 in)

Air

Low combustion temperature reduces boiler

maintenance

Long burning times lead to high efficiency and

low emissions

Very high fuel flexibility

12

Benefits of CFBs (2)

13

Technical advantages

Low (850 ordmC) combustion temperature

prevents ash fouling and corrosion

Long burning times for high combustion

efficiency even with slow burning fuels

Naturally low NOx due to low combustion

temperature

SOx captured by limestone in boiler as

fuel burns wo water

Very high fuel flexibility due to large

thermal inertia

No coal mills dryers or burners

Stable process not sensitive to fuel

quality change

Fuel flexibility advantages

Mix of coals including high sulphur

Waste coal

Bituminous gob anthracite culm

Industrial by-products

Wood waste pet coke

Agricultural waste

Rice husks bagasse pith oat hulls

Waste fuels

Tyre derived refuse refinery bottoms

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

CFB versus PC designCFB clean coal power technology

Finishing

Superheater

Sootblowers

Milling and Fuel

Transport Systems

SCR

Low Nox

Burners

OFA

Supercritical PC

Secondary

Superheater

Primary

Superheater

ReheaterVertical Tube

Evaporator

SuperReheaters

Protected in

INTREX

Supercritical CFB

SNCR

Gravity Feed

Fuel System

Primary

Superheater

Super or

Evap heating

SCR

(if needed)

11

Benefits of CFB technology

Flue gas

800-900oC

(1472-1652oF)

800-900oC

(1472-1652oF)

45-50 ms

(15-16 fts)

Limestone

lt1 mm

(004 in)

Coal

lt10 mm

(04 in)

Biomass

lt50 mm

(20 in)

Air

Low combustion temperature reduces boiler

maintenance

Long burning times lead to high efficiency and

low emissions

Very high fuel flexibility

12

Benefits of CFBs (2)

13

Technical advantages

Low (850 ordmC) combustion temperature

prevents ash fouling and corrosion

Long burning times for high combustion

efficiency even with slow burning fuels

Naturally low NOx due to low combustion

temperature

SOx captured by limestone in boiler as

fuel burns wo water

Very high fuel flexibility due to large

thermal inertia

No coal mills dryers or burners

Stable process not sensitive to fuel

quality change

Fuel flexibility advantages

Mix of coals including high sulphur

Waste coal

Bituminous gob anthracite culm

Industrial by-products

Wood waste pet coke

Agricultural waste

Rice husks bagasse pith oat hulls

Waste fuels

Tyre derived refuse refinery bottoms

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Benefits of CFB technology

Flue gas

800-900oC

(1472-1652oF)

800-900oC

(1472-1652oF)

45-50 ms

(15-16 fts)

Limestone

lt1 mm

(004 in)

Coal

lt10 mm

(04 in)

Biomass

lt50 mm

(20 in)

Air

Low combustion temperature reduces boiler

maintenance

Long burning times lead to high efficiency and

low emissions

Very high fuel flexibility

12

Benefits of CFBs (2)

13

Technical advantages

Low (850 ordmC) combustion temperature

prevents ash fouling and corrosion

Long burning times for high combustion

efficiency even with slow burning fuels

Naturally low NOx due to low combustion

temperature

SOx captured by limestone in boiler as

fuel burns wo water

Very high fuel flexibility due to large

thermal inertia

No coal mills dryers or burners

Stable process not sensitive to fuel

quality change

Fuel flexibility advantages

Mix of coals including high sulphur

Waste coal

Bituminous gob anthracite culm

Industrial by-products

Wood waste pet coke

Agricultural waste

Rice husks bagasse pith oat hulls

Waste fuels

Tyre derived refuse refinery bottoms

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Benefits of CFBs (2)

13

Technical advantages

Low (850 ordmC) combustion temperature

prevents ash fouling and corrosion

Long burning times for high combustion

efficiency even with slow burning fuels

Naturally low NOx due to low combustion

temperature

SOx captured by limestone in boiler as

fuel burns wo water

Very high fuel flexibility due to large

thermal inertia

No coal mills dryers or burners

Stable process not sensitive to fuel

quality change

Fuel flexibility advantages

Mix of coals including high sulphur

Waste coal

Bituminous gob anthracite culm

Industrial by-products

Wood waste pet coke

Agricultural waste

Rice husks bagasse pith oat hulls

Waste fuels

Tyre derived refuse refinery bottoms

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Heat Recovery Steam GeneratorsOver 450 in operation today

14

Long standing reputation

We supplied 1st HRSG for a combined cycle plant in US

in 1958 at Rio Pecos

Track record of reliable operation and customer

satisfaction

Experience on turbines for a wide range of

manufacturers

Complete design capability

Using advanced 3D design tools for an integrated

design to avoid field interferences and easy erection

work

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Particulate Control Low NOx Control

Air pollution control productsIncreases addressable market by 15

TECO Big Bend Station units 1 amp 2

wet FGD systemCarlisle Industrial Brake

jet III fabric filters

Endesa Compostilla unit 3

low NOx Burner system

4741 wet and dry

ESPs fabric filters

and cartridge

collectors systems

delivered

257 low NOx

combustion and

132 SCR retrofits

completed

269 wet FGDs

CFB scrubbers

SDA scrubbers and

DSI systems

delivered

Acid Gas and

Metal Control

GPG has a full suite of air quality control (AQCS) products

2014 acquisition of Wheelabrator technologies from Siemens

Currently small part of the business but projected to grow

Good synergies with CFB products

15

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

16

Design and supply

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

4 major manufacturing facilities

Spain is closing down in 2015

Over 2 million man-hoursyear of

capacity

Alliances with several partner

shops for additional ldquoflexiblerdquo

capacity

Can take on 3rd party work to

maintain utilisationThailand

Spain

Established 1977

Location Tarragona Spain (100 km S of Barcelona)

Products Conventional steam generators

fluidized bed boilers industrial boilers HRSGs

package boilers auxiliary equipment

Certifications ISO 9001 ASME Spanish

Pressure Parts

Poland

Established 1995

Location Sosnowiec Poland

Products CFB boilers BFB boilers HRSGs oilgas

fire amp water tube package boilers heat exchangers

and pressure vessels waste heat boilers

Certifications ISO 9001 ASME and DIN

Established 1997

Location Xinhui City PRC (95 km NW of Hong Kong)

Products amp Services Circulating fluidized bed boilers

supercritical boilers arch fired boilers bubbling bed

boilers replacement boiler components

Certifications ASME code certifications S amp PP China

Boiler Manufacturing Certificate Level A ISO 9001

China

Established 2000

Location Banchang Rayong Province Thailand

(180 km SE of Bangkok)

Products Pressure parts for CFB Boilers waste

heat boiler PC boiler boiler spare parts

Certifications ASME Code Certification S Stamp

Manufacturing facilitiesHigh quality and flexible

17

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

In-house component manufacture

Cyclone Throat HRSG Header Fluidizing Grid

Bare Tube Coils Coils Cyclones Weld Overlay Capability

AEP

Ameren

Bechtel

Black amp Veatch

Constellation

DukeCinergy

FPampL

Hong Kong Power

amp Light

KCPampL

Marubeni

NIPSCO

Pacific Corp

Reliant Energy

ShawStone

amp Webster

Sumitomo Heavy

Industries

18

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Flexible scope of work

19

EUR N AM ASIA LICENSEE cost

OU

TS

IDE

BO

ILE

R

ISL

AN

D

Turbine - - - - 10

Handling systems - - - -45

Buildings roads - - - -

Environmental systemsP P - (P) 10

Auxiliary equipmentP (P) - - 5

BO

ILE

R

RE

LA

TE

D

Erection installationP - - - 15

ManufacturingP P P (P) 10

Design engineeringP P P (P) 5

TechnologyP P P P 1

GPG

SCOPE

Up to 45 of plant cost can be within GPG scope

30 is boiler related

Scope depends on region and customer type

P (P) (Sometimes in) GPG scope

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Selected projects

20

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

KOSPOrsquos Green Power Project in Samcheok Korea

Plant will be owned and operated by Korean Southern Power Company located in Samcheok Korea

State-of-the-art utility CFB technology

Advanced ultra supercritical vertical tube steam technology

4 x 550520 MWe grossnet on 2 x 11001040 MWe STGs

Capacity to supply power to 750000 homes

424388 (LHVHHV) net efficiency

Each CFB produces 3428 mpph (15731282 tonnehr) of steam at 3728783 psig (25753 bar) and 11171117F (603603C)

Firing a wide range of import and domestic coals and biomasses

Commercial operation expected in 2016

KOSPO Selected USC CFB Technology over PC

21

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Polaniec CFB Plant in PolandThe Worlds Largest CFB firing 100 Biomass

Plant electrical output (grossnet) 205190 MWe

Net plant efficiency (LHVHHV) 365314

Steam flow (SHRH)158135 kgs

12511071 kpph

Steam pressure (SHRH)12619 barg

1828276 psig

Steam temperature (SHRH)535535degC

995995degF

Plant location Polaniec Poland

Customer GDF Suez Energia Polska

Plant start-up Fourth Quarter 2012

Fires up to 20 high alkaline agricultural

biomasses with wood-based biomasses

In September 2012 Polaniec CFB went on-line

producing 210 MWe of power from 100 biomass

222

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Sample of ongoing projects

Client Project Product LocationCapacity

(MWe)

Estimated

completion

date

Hanwha Energy Corp Gunsan Power Plant CFB South Korea 1 x 100 Mar-19

Fortum Zabrze SA Zabrze Heat amp Power Plant CFB Poland 1 x 75 Dec-18

Marubeni Corporation Thai Binh Thermal Power Plant PC - Arch Vietnam 2 x 300 Apr-18

Hyundai Engineering Co Therma Visayas (CEBU) CFB Philippines 2 x 150 Mar-18

Freeport-McMoRan Miami Smelter Wet FGD Arizona Nov-17

Harbin Electric HIDRO-GEN Energy - SOMACFB

+ ScrubbersTurkey 2 x 255 Jun-17

Isolux De Mexico SA de CV Altamira I and II AQCS Mexico 2 x 165 Jun-17

Deven JSCo Solvay Sodi Chemical PlantCFB

Boiler IslandBulgaria 1 x 50 Jun-17

Undisclosed Power Plant Expansion HRSG Northeast USUpdated

Frame 7May-17

Samsung CampT Rabigh II HRSG Saudi Arabia 6 x 120 Jan-17

eTEC EampC Seagull Cogeneration CFB South Korea 1 x 250 Jun-16

Al-Toukhi Company Yanbu Power amp Desalination Plant

Condensers

Feed Water

Heaters

Saudi Arabia 5 Cond

30 FWHJun-16

Hyundai Engineering and Construction Samcheok Green Power CFB-OTU South Korea 4 x 550 Jun-16

233

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

USA

100 MWe cogeneration project in Martinez CA

Natural gas CCGT

Chile

74 MWe PetroPower CFB cogen plant in Talcahuano

Fueled with petroleum coke

Italy (Not managed by GPG)

150 MWe combined cycle plant in Ferrara

150 MWe combined cycle plant in Teverola

48 MWe wind farm in Pietramontecorvino

32 MWe wind farm in Scampitella

32 MWe waste-to-energy plant in Lomellina

Refuse derived fuel CFB boiler

225 MWe wind farm in Vallesaccarda

Owned andor operated plants

Martinez CA

Talcahuano Chile

Lomellina Italy

244

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Market overview

25

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

CFBs represent c13 of solid-fuel market

26

CFB market share 2005-20142

Amec Foster

Wheeler47

14

8

5

5

4

3

22

2

2 6

Amec Foster Wheeler

Dongfang Boiler Co

Alstom

Formosa Heavy Ind

Valmet

Shanghai Boiler Co

Andritz

SES Tlmace

Hyundai Heavy Ind

Harbin Boiler Co

Wuxi Boiler Co

Others

CFB share of solid fuel boiler market1

Pulverised coal (PC) boilers remain dominant

Up-front build costs are generally lower than CFBs

Large utility-sized boilers (gt1000 MWe) only available as PCs

1 McCoy Power Reports

2 Company Database CFB Boiler Type All sizes Excludes domestic orders provided by domestic suppliers in China India and Japan Market share based on GWe

13

87

CFB PC

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Leading international supplier of CFBs440 CFBs since 1975

34 GWe in power capacity sold

Single unit capacities developed up to 800 MWe

Largest currently in operation 550 MWe

Over 30 million hours of operation

Widest fuel experience in industry

78 petcoke market share

48 biomass market share

277

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

1 in heat recovery equipmentIn partnership with BHI

Global Power Group

Advanced and proven

HRSG technology

Local presence

Licensee of Amec Foster

Wheeler since 2005

Advanced South Korea

HRSG fabrication facilities

Cost competitive execution

Supplied by Amec FW

Supplied by BHI

Source for bar Chart is McCoy Power Reports

Global HRSG Sales in 2014

288

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Market opportunities

29

CFB has opportunity to grow share in boiler market

Particularly larger super-critical units (ldquoutility sizerdquo)

Route to size of market varies on contracting style

Direct sales to utilities means largest potential scope for GPG

Projects where lsquocustomerrsquo is EPC contractor reduces scope for GPG

Current prospects include

USMex new build gas combined cycle and industrial plants

SE Europe new build clean coallignitebiomass

Asia new build clean(er) coalbiomass

AfricaS America Asia new build coalpetcoke

Environmental retrofits aftermarket services expanding license coverage

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens

Outlook

30

GPG bookings have a high correlation with GDP fluctuations

Coal use under pressure globally ndash especially in N AmericaEU

CFB value proposition remains attractive

Wide fuel flexibility

Low emissions

High reliability

Growth in air quality products

Target stable revenues and margins in the low teens