track # U.S.-Saudi Business Opportunities Forum Jeffrey S. Merrifield Senior Vice President, Shaw’s Power Group

3 Corporate Profile Name:The Shaw Group Inc. Headquarters:Baton Rouge, Louisiana Public corporation:NYSE Symbol: SHAW FY 2009 Revenue:$7.3 Billion Backlog:$21.2 Billion* Number of employees:28,000 Web sitewww.shawgrp.com Founded in 1987, The Shaw Group Inc.® provides premier engineering, design, construction, maintenance, fabrication and manufacturing services to private- sector and government clients in the energy, chemicals, power, nuclear, environmental, infrastructure and emergency response markets. * As of 2/28/10

Shaw Worldwide Locations Corporate Headquarters: Baton Rouge, LA Power Group Operations Centers: Charlotte, NC Denver, CO Baton Rouge, LA Boston, MA Moorestown, NJ London (UK) 4

The Shaw Group Capabilities Power Piping Process SteelModularization Construction Environmental & Infrastructure Maintenance 5

Shaw’s Power Group Four divisions comprise Shaw’s Power Group: –Fossil & Renewables Division –Nuclear Division –Maintenance Division –Construction Division Ranked No. 1 Power Design Firm according to ENR’s list of Top 500 Design Firms (2008 and 2009) Approximately 5,000 professional employees Largest constructor of nuclear power plants in the United States 6

Westinghouse/Toshiba Relationship with Westinghouse since construction of Shippingport in 1950s Shaw acquired 20% share of Westinghouse in 2006 – 70% owned by Toshiba Consortium partners on expanding portfolio of new AP1000™ projects –Four units in China Sanmen, two units Haiyang, two units –Six units in U.S. Vogtle, two units V.C. Summer, two units Levy County, two units Other domestic and international opportunities with both Westinghouse and Toshiba (ABWR) 7

8 Clients: SNPTC, SMNPC & SDNPC Four units at two sites in China’s Zhejiang & Shandong provinces Contract signed and work began in 2007 First concrete poured at three of four units in 2009 Major construction milestones: –CA20, CA01, CA04, CA05, 10+ other modules –Containment Vessel (CV) Bottom Head –CV 1 st Ring Projected completion: 2013 – 2015 China AP1000: Sanmen & Haiyang CVBH placement People’s Republic of China Sanmen (2 units) CV 1 st Ring placementPhotos used courtesy of SMNPC Haiyang (2 units)

9 Client: Southern Company Location: Waynesboro, GA EPC contract signed April 2008 Projected commercial operation dates: 2016 (Unit 3) – 2017 (Unit 4) Site certification and full notice to proceed awarded March 2009 Early Site Permit & Limited Work Authorization awarded August 2009 To date, more than 6.5 million cubic yards of earth moved; approximately 1.5 million man-hours worked Combined Construction & Operating License (COL) approval anticipated July 2011 U.S. AP1000: Vogtle Units 3 & 4 Photo courtesy of Southern Company

10 Client: SCE&G / SCANA Location: Jenkinsville, SC EPC contract signed May 2008 Projected commercial operation dates: 2016 (Unit 2) – 2019 (Unit 3) Project approval awarded by public service commission February 2009 To date, more than 6.9 million cubic yards of earth moved; approximately 1.3 million man-hours worked At peak of construction, 3,000 – 3,500 employees expected to be hired COL approval anticipated July 2011 U.S. AP1000: VC Summer Units 2 & 3

Shaw’s Work in Saudi Arabia Saudi Electricity Company –April 2010: Shaw awarded contract to assess and recommend operational improvements at 52 sites throughout Saudi Arabia Eastern Petrochemical Company (SHARQ) –April 2010: Shaw completed 1,300 KTA grassroots ethylene plant in Al-Jubail, which had workforce of 12,000 at its peak Saudi Basic Industries Corporation (SABIC) –Grassroots High Density Polyethylene (HDPE) plant completed in 2008 Shaw has completed more than 70 projects in Saudi Arabia over the last 20 years 11 SHARQ grassroots ethylene plant

Energy and Water Needs in Saudi Arabia Estimated that Saudi Arabia will need close to 66,000 MW of power by 2024 – more than double the current capacity of 32,603 MW Long-term investment in power generation valued at $91 billion through 2020 Water demand expected to increase by 6% annually – $60 billion investment needed to meet consumption needs Saudi Arabia is the world’s largest producer of desalinated water 12

Why Nuclear Power Makes Sense Deployment of nuclear power technologies for energy production allows oil resources to be dedicated to more valuable export purposes Nuclear power has high capacity factor 13 –U.S. = 90% vs % for fossil units Nuclear power stations provide significant electricity and heat properties perfectly matched to desalination needs Nuclear power provides the largest source of clean, carbon-free technology in the world

Ability to Deploy Nuclear Technologies April 17, 2010: King Abdullah ordered establishment of the King Abdullah City of Nuclear and Renewable Energy to serve as a scientific center for civilian nuclear and renewable energy Over the last 20 years, Saudi Arabia has demonstrated that it stands second to no 14 country in the ability to deploy highly technical construction and infrastructure improvements Nuclear power deployment in Saudi Arabia is consistent with the Kingdom’s efforts to achieve sustainable economic development Nuclear power will provide a significant source of highly skilled jobs for thousands of Saudi residents

Keys to Successful Nuclear Deployment Existence of a utility that has the financial and technical capability to undertake nuclear power generation Selection of a technology that will “succeed” in the geographic location, matched with an EPC contractor that can successfully engineer and construct the technology 15 Successful conclusion of a Section 123 Agreement with the United States Government Commitment to engagement with the International Atomic Energy Agency and willingness to create a credible regulatory body to oversee deployment