November 19, 2017

Jack Bailey Joins NuScale Power
Expands Business Development Team

May 14, 2014

NuScale Power announced that Jack Bailey has joined the company as Senior Vice President, Business Development. Bailey comes to NuScale from Generation mPower, where he led the company's North American business development efforts for the past year, as well as support for various project development activities.

Prior to his time at GMP, Bailey spent 15 years with the Tennessee Valley Authority. From 2005-2012, he was VP Nuclear Generation Development and led TVA project development for AP1000 and SMR projects. Prior to that, he was VP Nuclear Engineering and Technical Services from 1997-2002, and subsequently SVP Power Resources and Operational Planning from 2002-2005. Before TVA, Bailey spent 8 years at Arizona Public Service, 7 years at Virginia Power Company and 5 years in the nuclear navy.

Mike McGough, NuScale's Chief Commercial Officer, stated, 'We are delighted to have Jack onboard to add to our business development team as we continue to expand the global reach of the NuScale Power Module. Since our selection last December by the DOE as an SMR development funding awardee, marketplace interest in our offerings has increased substantially. Having Jack on our team will help to ensure we are able to thoroughly support the demands for high-quality engagements with our growing customer base.'

Bailey stated, 'I'm delighted to be joining NuScale Power. I have been impressed with the technology, the team and the strong backing NuScale has assembled to bring their design to commercialization. I'm looking forward to contributing to their success.'

Additionally, Bailey has held industry leadership positions as the Chairman NEI Small Modular Reactor Working Group from 2011-2012, Chairman NEI Task Group Closing Fuel Cycle Regulatory Framework - 2008-2012, TVA Executive founding member on NuStart Management Committee - 2006-2012, NEI New Plant Working Group - 2007-2012, NERC Planning Committee Federal Representative - 2003-2005, and as Chairman Westinghouse Owners Group - 2001, among others.

About NuScale Power, LLC

NuScale Power, LLC is developing a new kind of nuclear plant; a safer, smaller, scalable version of pressurized water reactor technology, designed with natural safety features. Fluor Corporation (NYSE: FLR), a global engineering, procurement and construction company with a 60-year history in commercial nuclear power, is the majority investor in NuScale. As the sole winner of the second round of the U.S. Department of Energy's (DOE) competitively-bid, cost-sharing program to develop nuclear small modular reactor (SMR) technology, NuScale's design offers the benefits of carbon-free nuclear power but takes away the issues presented by the cost of installing large capacity. A nuclear power plant using NuScale's technology is comprised of individual NuScale Power Modules', each producing 45 megawatts of electricity with its own factory-built combined containment vessel and reactor vessel, and its own packaged turbine-generator set. A power plant can include as many as 12 NuScale Power Modules to produce as much as 540 megawatts. The reactor coolant is driven by natural circulation and can be shut down safely with no operator action, no AC or DC power, and no external water. NuScale power plants are scalable - additional modules are added as customer demand for electricity increases. NuScale's technology also is ideally suited to supply energy for district heating, desalination and other applications. NuScale is headquartered in Portland, Oregon.