4136J60-G1 GE  Output Module

2023 was an excellent year for the GE team. With strong demand in our end markets and with better execution, we more than tripled earnings and generated almost 70 percent more free cash flow* than in 2022. We monetized about $9 billion in proceeds from our equity stakes in Baker Hughes, AerCap, and GE HealthCare. While GE has now fully exited our stakes in Baker Hughes and AerCap, our commercial relationships remain strong. These actions helped us simplify and strengthen our balance sheet while making capital allocation decisions on our front foot, returning about $7 billion to shareholders through dividends, buybacks, and retiring our preferred equity. Our teams have worked hard to prepare to launch as independent companies and now are operationally ready to do so. You’ll see GE Vernova trade as GEV on the New York Stock Exchange (NYSE) following its spin-off, and GE Aerospace will continue to use the GE stock ticker, remaining on the NYSE. Our leadership teams are both ready, and we announced both boards of directors, recruiting current and new directors to join us. To assemble teams like these is part of why we wanted to form independent, industry-leading companies in the first place—to be in the best position to bring together talented people with specific depth and passion to help GE Vernova lead the energy transition and GE Aerospace invent the future of flight. And both companies had exceptional years.

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　　SWF DMCS007F10P00

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　　TOTAL 2880045-01

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　　ULTRA SLIMPAK G428-0001

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　　ULTRASLIMPAK G448-0002

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