SANMEN UNITS 1 & 2 │ 1

U.S. – Saudi Business Opportunities ForumDecember 7, 2011

J.M. Bernhard Jr.Chairman, President and Chief Executive Officer

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Corporate Profile

The Shaw Group Inc.® is a leading global provider of engineering, construction, technology, fabrication, remediation and support services for clients in the energy, chemicals, environmental, infrastructure and emergency response industries.  ► Headquarters: Baton Rouge, LA

► Stock Ticker: NYSE: SHAW

► Number of employees: 27,000

► FY 2011 Revenues: $5.9 billion

► 20% ownership of Westinghouse Group

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► Began site preparation for both sites in 2008

► Performing site preparation on both projects – clearing and excavating land and building infrastructure.

► Currently approximately 1,750 workers at Vogtle and approximately 1,050 workers at V.C. Summer

► At the peak of construction, approximately 3,000 to 3,500 personnel are expected to be on each site

► Combined licenses and first nuclear quality concrete pour expected in early 2012

U.S. Nuclear Projects Progressing as Planned

SCANA V.C. Summer Southern Vogtle

Photo courtesy of SCANA Photo courtesy of Southern Nuclear

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China AP1000® : Sanmen and Haiyang Units Progressing Steadily

► Contract signed in 2007

► Shaw's work includes engineering, procurement, startup, information management, technology transfer and project management services.

► Commercial operation for Sanmen expected in 2013-2014.

Haiyang Sanmen

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► Saudi Electricity Company (SEC)

– April 2010: Shaw awarded contract to assess and recommend operational improvements at 48 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’s Work in Saudi Arabia

SHARQ grassroots ethylene plantShaw has completed more than 70 projects in Saudi Arabia over the previous 20 years

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Why Nuclear Makes Sense for the Kingdom of Saudi Arabia

► Deployment of nuclear power technologies for energy production allows KSA oil resources to be dedicated to more valuable export purposes or downstream industry creation

► Nuclear power will provide highly reliableand safe generation for KSA’s future energy needs

► Nuclear power will provide KSA with a significant source of carbon-free technology

► Nuclear power will allow KSA to generate electricity and the potential to use power station heat properties to support desalination needs

► Nuclear power will provide a significant source of highly skilled jobs for thousands of Saudi workers

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► An integrated multi-company supply team that incorporates a technology provider, a qualified EPC team and an experienced utility nuclear operator would provide the best model to achieve successful deployment of nuclear technologies in Saudi Arabia.

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 and with a world class nuclear operator who can provide the operational excellence know-how.

► Successful conclusion of a Section 123 Agreement with theU.S. government

► Commitment to engagement with the International Atomic Energy Agency and willingness to create a credible regulatory body to oversee deployment

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An integrated multi-company supply team that incorporates a technology provider, a qualified EPC team and an experienced utility nuclear operator would provide the best model to achieve successful deployment of nuclear technologies in Saudi Arabia.

Saudi Arabia Nuclear Deployment Model

Design & Equipment Supply

Engineering, procurement, construction management

Construction

Operations/training/workforce development

Maintenance/outage management + + +

Saudi Arabian constructor

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► Creation of jobs in Saudi Arabia for construction and commissioning of multiple nuclear units

– Local construction employment will peak between 3,500 and 4,000

– Approximately 1.5 – 1.7 billion SAR (Approximately $430 million USD) in annual sales of local goods and services at each site

– More than 4,000 indirect jobs created from new business

► Permanent operations staff between 500 and 550 per unit (60 years)– Operator training programs for operations and management personnel

– Professional development programs

► Equipment supply from local and regional manufacturers– Commodities, such as concrete, steel, cable, etc.

– Mechanical and electrical equipment

► Partnerships with universities and technical colleges– Engineering, environmental science and trade programs

Nuclear Power Sustainability and Job Creation in Saudi Arabia

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► We are committed to working with KSAto create a sustainable nuclear powergenerating portfolio, and a nuclear power industry for long-term needs.

► We are willing and ready to invest infacilities to enhance the localization of commodities.

► We believe Saudi Arabia deserves thehighest quality technology and the bestdeployment group in the world.

► Our team of Toshiba/Westinghouse, Exelon and Shaw provide such world class capability and technology.

► We stand committed to assisting the Kingdom of Saudi Arabia in obtaining prompt agreement and approval of a Section 123 Agreement with the United States.

Value Summary

AERIAL V IEW OF VOGTLE UNITS 3 AND 4 │ 11

U.S. – Saudi Business Opportunities ForumDecember 7, 2011

J.M. Bernhard Jr.Chairman, President and Chief Executive Officer