January 25, 2022 GE fourth quarter & full year 2021 ...

1 GE fourth quarter & full year 2021 performanceFinancial results & company highlightsJanuary 25, 2022 CAUTION CONCERNING FORWARD-LOOKING STATEMENTS:This document contains "forward-looking statements" that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ FINANCIAL MEASURES:In this document, we sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with generally accepted accounting principles (GAAP).

2 Certain of these data are considered non-GAAP financial measures under the Securities and Exchange Commission rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in our earnings release and the appendix of this presentation, as applicable. Amounts shown on subsequent pages may not add due to rounding. Our financial services business is operated by GE Capital Global Holdings, LLC (GECGH). In this document, we refer to GECGH andour financial services business as GE Capital .We refer to the industrial businesses of the Company as GE s Investor Relations website at our corporate blog at , as well as GE s Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors.

3 GE encourages investors to visit these websites from time to time, as information is updated and new information is : Revolution Apex, cutting-edge CT platform2 Transformation acceleratingFuture of supporting industry recovery today, sustainability long termPrecision more personalized, efficient patient & clinical careEnergy solving trilemma of affordability, reliability, sustainabilityAviation: United flew world s first passenger flight, using LEAP-1B engines, with 100% SAF supplying one engine ; Photo Credit: United AirlinesStrength from strategic, operational, & financial progress to dateGrowth & momentum in GE today from near-term improvement in businessesLaying the groundwork for three independent companies focused on critical global needsPower: Developing decarbonization roadmap with ADNOCS ignificant opportunity in our businesses .. building a world that worksStrong 2021 performance 32021 DynamicsAdjusted GE industrial organic margin expansion*Adjusted EPS*GE industrial free cash flow*390 bps$ $ industrial organic revenue growth*~FlatFY 2021 Outlook as of 3Q'21* Non-GAAP Financial Measure(a-Excludes prior period CFOA impact from discontinued factoring programs of $( )BDelivered on earnings & cash flow in '21.)

4 Profitable growth in '22(2)%350+ bps$ -$ $ -$ three-column reporting format Robust orders growth .. revenue impacted by commercial selectivity & supply chain Orders +12%org .. services +12%orgwith all segments up; driving '22 growth Revenue* down .. equipment (8)%org, primarily Power; services +4%orgled by Power & Healthcare Solid profitability & cash .. operational improvement & solid execution Adjusted industrial margin* .. expansion in three businesses with services strength especially at Aviation; Renewables pressured $ ) industrial FCF ex disc. factoring*-a)best represents operating performance Operational progress .. lean in 22 improving safety, quality, delivery, cost business decentralization Gas Power reduced outage cycle time for 7F turbines in North America .. less customer downtime & cost PDx improved main contrast media turnaround time .. increase output, lower CapEx, & reach more patients Reinvesting for growth .. business progress with lean generating more capital to deploy for offense Innovation leading to organic growth Complemented by targeted inorganic investments End markets improving.

5 Large installed base, backlog* ~$428B, profitable services backlog growingOperating from a position of strengthDriving innovation, sustainability & growth in our businessesPower received an order from China's Guangdong Energy for the 1st gas turbines to run on hydrogen-blendAviation awarded $ contract to power full Air Force F-15EX fleetRenewable Energy reached financial close on Dogger Bank C,the 3rd phase* Non-GAAP Financial MeasureTransformation continuesBusiness highlights4 Healthcare Vscan AirTMwireless, a pocket-sized ultrasound, now in 70 countries with growing revenuePhoto credit: Air Force5* Non-GAAP Financial Measure(a-Includes borrowings, after tax pension & principal retiree benefit plan liabilities, operating leases, 50% preferred stock, and factoring(b-Excludes CFOA from factoring programs discontinued in 2021 Focused portfolio .. closed GECAS & AerCap transaction on November 1, 2021 Solidified financial position ..reduced gross debt-a)by $87B in three years, improved cash management Simplified reporting.)

6 Reflecting strategic actions Prior, three-column .. showed industrial separately from Capital Going forward, one-column .. remaining Capital within Corporate; run-off Insurance adjusted out Expect legacy Capital impact $( )B down to $( )B in '22(lower debt = interest, derivs.)GE transition to a focused, simpler, stronger high-tech industrial 2021 FCF*Prior industrial FCF*$ factoring impact-b) FCF ex-disc. factoring* $ Capital: interest, derivatives excludes Insurance (run-off)( )FCF ex-disc. factoring*$ changes reflect strategic actions to focus on industrial core2021 EPS*Prior Adjusted EPS*$ earnings (run-off)( )Adjusted EPS*$ strategic progressThree-to-one column bridge($ in billions except EPS)Earnings performance6* Non-GAAP Financial Measure; All numbers shown on one-column basis unless otherwise noted(a Excludes Insurance, interest & other financial charges, non-operating benefit costs, gains (losses), restructuring & other charges, debt extinguishment costs, with EFS on Net Income basisRevenue pressured.

7 Profit continues to improve($ in billions except EPS)4Q'21y/y (org.)FY'21y/y (org.)Orders$ (4)%$ revenues* (3)% (2)%Adjusted profit*-a) profit margin*-a) Continuing EPS( )( )Adjusted EPS* '21FY'21 GAAP Continuing EPS$( )$( )Less: Debt extinguishment costs( )( )Less: : MTM & : Restructuring & ( )Less: Non-op pension & other benefits( )( )Adjusted EPS*$ $ walk7 Free cash flow* performance* Non-GAAP Financial Measure; All numbers shown on one-column basis unless otherwise noted(a Excludes CFOA impact from factoring programs discontinued as of April 1, 2021 and November 9, 2021, of $( )B in 4Q'21, $( )B in FY'21(b Excludes CFOA impact from receivables factoring and supply chain finance eliminations(c Includes the following: Goodwill impairments, (Gains) losses on sales of business interests, (Gains) losses on equity securities, principal pension plans (net), other post retirement benefit plans (net), income taxes (net), and all other operating.)

8 Excludes deal taxes and GE Pension Plan contributions (d Excludes CFOA impact from factoring programs discontinued as of April 1, 2021 & November 9, 2021 in current & prior periods, of $( )B in 4Q'21, $( )B in FY'21 and $( )B in FY'20. View by business on pg. 20 Strong free cash flow* performance, well-positioned for 2022FY'21 dynamics-d) $ industrial FCF ex disc. factoring* driven by earnings & working capital .. improved linearity Disciplined working capital taking hold .. other CFOA includes +$ delayed aircraft deliveries (AD&A) $ Aviation .. +$ y/y driven byservices strength, improved working capital, AD&A flat $ Healthcare .. flat y/y ex BioPharma driven by supply chain challenges $( )B Renewables .. $( )B y/y driven by ONW PTC progress dynamics $ Power .. +$ y/y driven by improved earnings & working capital at Gas Power4Q'21FY'21y/yNet earnings (loss) excl insurance*( )( )( )Debt extinguishment & ( )Operating working receivables-a,b) ( )( )Accounts payable-b) ( ) ( )( )Current contract ( )Other CFOA-c,b)( )( ) CAPEX( )( ) * ex.

9 Disc. factoring*-d) ( ) industrial FCF ex disc. factoring*-d) ($ in billions) Ended 2021 with leverage (net debt* / EBITDA) Significant sources available: growing FCF*, $16B cash on hand, and ~$13B-b)in AER/BKR equity stakes/note Strength of balance sheet enables capital deployment Pension deficit $12B, down $8 Bfrom '20 .. no GE Pension Plan funding through end of decade Positioning each standalone business to be independent, investment grade at launch8 Leverage-a)Stronger balance sheetBalance sheet & leverage (a Based on today's portfolio of business including Aviation, Healthcare, Renewables & Power(b -As of 1/21/22, including notesImproved balance sheet supports opportunities to invest for growth Net debt* includes borrowings & preferred equity less cash Will continue to decrease, clear focus on EBITDA* Non-GAAP Financial MeasureProfit growth driven by services, Aviation & Power .. offsetting Renewables & Healthcare pressureHealthcare9 Renewable Energy4Q'21 Operating segments results($ in billions)PowerAviation* Non-GAAP Financial Measure: organic revenue, organic segment profit, and organic segment margin in columns labeled y/y (org.

10 $ / %y/y(org.)*$ / %y/y(org.)*$ / %y/y(org.)*$ / %y/y(org.)*Orders$ $ $ (21)%$ (21)%Revenue$ $ (4)%$ (5)%$ (10)%Segmentprofit$ $ (18)%$( )U$ , (290)bps( )%(540) OutlookContinued momentum in 2022 .. focused on profitable growth and FCF** Non-GAAP Financial MeasureRevenue assumptions on organic basisOrganic margin, adjusted EPS*, and free cash flow* exclude any one-time separation costsExpect '22 interest expense & cash ~$( )B, adjusted tax rate* low-to-mid twenties w/ cash & book tax more closely aligned, andadjusted corporate cost* slightly better y/y vs $( )B in '21 Aviation market recovery pace, timing of aircraft deliveries Supply constraints, inflation, and mitigation actions Working capital improvement, inventory & progress Renewable Energy operational execution & marketOutlook assumptions Aviation market recovery continues .. 20%+ topline driven by worldwide shop visit growth and LEAP ramp Healthcare LSD/MSD revenue growth, 25-75bps OMX with continued investments for growth Renewable revenue +LSD.