General Electric Co,
Fiscal Year 2024 Q4.

CONSOLIDATED RESULTS THIRD QUARTER 2024 RESULTS. Total revenues were $9.8 billion, up $0.5 billion for the three months ended September 30, 2024 compared to the three months ended September 30, 2023, driven primarily by an increase at Commercial Engines & Services. Continuing earnings (loss) per share was $1.56. Adjusted earnings per share* was $1.15, excluding the results from our run-off Insurance business, separation, restructuring and other, and non-operating benefit costs, gains on retained and sold ownership interests, gains (losses) on purchases and sales of business interests and goodwill impairments. For the three months ended September 30, 2024, profit was $1.9 billion, with margins of 19.2%. Profit was up $1.6 billion compared to the three months ended September 30, 2023, driven by an increase in gains on retained and sold ownership interests of $1.5 billion, related to our GE HealthCare and AerCap investments, an increase in gains on sales of business interests of $0.4 billion, primarily related to the sale of our non-core licensing business, and an increase in segment profit of $0.2 billion. These increases were partially offset by increased restructuring and other charges of $0.3 billion and a goodwill impairment loss related to our Colibrium Additive reporting unit of $0.3 billion. Operating profit* was $1.8 billion, with margins* of 20.3%. Operating profit* was up $0.2 billion, driven by an increase in segment profit of $0.2 billion. Cash flows from operating activities (CFOA) were $4.5 billion and $3.4 billion for the nine months ended September 30, 2024 and 2023, respectively. Cash flows from operating activities increased primarily due to higher net income (after adjusting for depreciation of property, plant, and equipment, amortization of intangible assets and non-cash (gains) losses related to our retained and sold ownership interests in GE HealthCare, AerCap and Baker Hughes), a decrease in income tax payments and an increase in sales discounts and allowances, partially offset by working capital growth. Free cash flows* (FCF) were $4.6 billion and $3.5 billion for the nine months ended September 30, 2024 and 2023, respectively. FCF* increased primarily due to higher net income, lower income tax payments and higher sales discounts and allowances accruals, partially offset by working capital growth, after adjusting for an increase in separation cash expenditures, which are excluded from FCF*. See the Capital Resources and Liquidity - Statement of Cash Flows section for further information. Remaining performance obligation (RPO) is unfilled customer orders for products and product services (expected life of contract sales for product services) excluding any purchase order that provides the customer with the ability to cancel or terminate without incurring a substantive penalty. See Note 23 for further information.

Adjusted Corporate & Other operating costs (Non-GAAP)(201)(220)(452)(593) Corporate & Other operating profit (cost) (GAAP)$(73)$(1,455)$(252)$3,974 Less: gains (losses), impairments, Insurance, and restructuring & other128 (1,236)201 4,567

CAPITAL RESOURCES AND LIQUIDITY FINANCIAL POLICY. GE Aerospace is committed to maintaining strong investment grade ratings with a disciplined capital allocation strategy. The Company will continue to invest in future growth and innovation through research and development and capital expenditures. We intend to return a majority of our free cash flow* to shareholders through dividends and share repurchases. Merger and acquisition investments will be pursued in a disciplined way and focused on those that offer strategic, operational and financial synergies. LIQUIDITY POLICY. We maintain a strong focus on liquidity and define our liquidity risk tolerance based on sources and uses to maintain a sufficient liquidity position to meet our business needs and financial obligations under both normal and stressed conditions. We believe that our consolidated liquidity and availability under our revolving credit facilities will be sufficient to meet our liquidity needs. CONSOLIDATED LIQUIDITY. Our primary sources of liquidity consist of cash and cash equivalents, free cash flows* from our operating businesses, and access to capital markets. If needed, we can also draw from short-term borrowing facilities, including revolving credit facilities. Cash generation can be subject to variability based on many factors, including seasonality, receipt of down payments on large equipment orders, timing of billings on long-term contracts, timing of customer allowances and market conditions. Total cash, cash equivalents and restricted cash was $13.7 billion at September 30, 2024, of which $4.6 billion was held in the U.S. and $9.1 billion was held outside the U.S. Cash held in non-U.S. entities has generally been reinvested in active foreign business operations; however, substantially all of our unrepatriated earnings were subject to U.S. federal tax and, if there is a change in reinvestment, we would expect to be able to repatriate available cash (excluding amounts held in countries with currency controls) without additional federal tax cost. Any foreign withholding tax on a repatriation to the U.S. would potentially be partially offset by a U.S. foreign tax credit. Cash, cash equivalents and restricted cash at September 30, 2024 included $0.4 billion of cash held in countries with currency control restrictions. Cash held in countries with currency controls represents amounts held in countries that may restrict the transfer of funds to the U.S. or limit our ability to transfer funds to the U.S. without incurring substantial costs. Excluded from cash, cash equivalents and restricted cash was $1.4 billion of cash in our run-off Insurance business, which was classified as All other assets in the Statement of Financial Position.

STATEMENT OF CASH FLOWS CASH FLOWS FROM CONTINUING OPERATIONS. The most significant source of cash in CFOA is customer-related activities, the largest of which is collecting cash resulting from product or services sales. The most significant operating use of cash is to pay our suppliers, employees, tax authorities and postretirement plans. Cash from operating activities was $4.5 billion in nine months ended September 30, 2024, an increase of $1.1 billion compared to the nine months ended September 30, 2023, primarily due to: an increase in net income (after adjusting for depreciation of property, plant, and equipment, amortization of intangible assets and non-cash (gains) losses related to our retained and sold ownership interests in GE HealthCare, AerCap and Baker Hughes) driven by all segments, a decrease in income tax payments, an increase in sales discounts and allowances, primarily due to higher spare parts shipments, partially offset by working capital growth. The components of All other operating activities included:

Moody'sS&PFitch OutlookPositiveStableStable Short termP-2A-2F1 Long termBaa1BBB+BBB+ In connection with the spin-off of GE Vernova, in the first quarter of 2024, Moody's changed its outlook from stable to positive. Fitch changed its long term rating from BBB to BBB+. Our ratings may be subject to a revision or withdrawal at any time by the assigning rating organization, and each rating should be evaluated independently of any other rating. Substantially all of the Company's debt agreements in place at June 30, 2024 do not contain material credit rating covenants. Our unused back-up revolving syndicated credit facility contain a customary net debt-to-EBITDA financial covenant, which we satisfied at June 30, 2024. FOREIGN EXCHANGE AND INTEREST RATE RISK. As a result of our global operations, we generate and incur a small portion of our revenues and expenses in currencies other than the U.S. dollar. Such principal currencies include the euro, the British Sterling pound, and Brazilian real. The effect of foreign currency fluctuations on earnings was immaterial. See Note 20 for further information about our risk exposures, our use of derivatives, and the effects of this activity on our financial statements.

Three months ended September 30Nine months ended September 30 Sales in units, except where noted2024202320242023 Defense engines94 95 306 403 RPOSeptember 30, 2024December 31, 2023

RPOSeptember 30, 2024December 31, 2023 Equipment$19,210 $16,247 Services146,879 137,756 Total RPO$166,089 $154,003 *Non-GAAP Financial Measure 2024 3Q FORM 10-Q 4 As of September 30, 2024, RPO increased $12.1 billion, or 8%, from December 31, 2023, at Commercial Engines & Services, as a result of engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenues recognized, and at Defense & Propulsion Technologies, driven by Defense & Systems equipment orders outpacing revenues recognized.

OTHER CONSOLIDATED INFORMATION RESTRUCTURING AND SEPARATION COSTS. Significant, higher-cost restructuring programs are excluded from measurement of segment operating performance for internal and external purposes; those excluded amounts are reported in Restructuring and other charges for Corporate & Other. In addition, we incur costs associated with separation activities, which are also excluded from measurement of segment operating performance for internal and external purposes. See Note 19 for further information on restructuring and separation costs. INTEREST AND OTHER FINANCIAL CHARGES were $0.3 billion for both the three months and $0.8 billion for both the nine months ended September 30, 2024 and 2023, respectively. The primary components of interest and other financial charges are interest on short- and long-term borrowings.

*Non-GAAP Financial Measure 2024 3Q FORM 10-Q 8 POSTRETIREMENT BENEFIT PLANS. Refer to Note 13 for information about our pension and retiree benefit plans. INCOME TAXES. For the three months ended September 30, 2024, the effective income tax rate was 10.5% compared to 7.8% for the three months ended September 30, 2023. The provision for income taxes was $0.2 billion and an insignificant amount for the three months ended September 30, 2024 and 2023, respectively. The increase in the tax provision was primarily due to a decrease in tax benefit associated with separation activities and an increase in tax expense due to higher pre-tax income excluding gains and losses on our retained and sold ownership interests for the three months ended September 30, 2024 compared to the three months ended September 30, 2023. For the three months ended September 30, 2024, the adjusted effective income tax rate* was 20.3% compared to 19.2% for the three months ended September 30, 2023. The adjusted provision (benefit) for income taxes* was $0.3 billion and $0.3 billion for the three months ended September 30, 2024 and 2023, respectively. The change in the tax provision was primarily due to the tax effect of the increase in adjusted earnings before taxes* for the three months ended September 30, 2024 compared to the three months ended September 30, 2023. For the nine months ended September 30, 2024, the effective income tax rate was 10.6% compared to 5.6% for the nine months ended September 30, 2023. See Note 15 for further information. The provision for income taxes was $0.6 billion and $0.5 billion for the nine months ended September 30, 2024 and 2023, respectively. The increase in the tax provision was primarily due to an increase in tax expense due to higher pre-tax income excluding gains and losses on our retained and sold ownership interests for the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023, partially offset by an increase in tax benefits associated with separation activities and equity compensation. For the nine months ended September 30, 2024, the adjusted effective income tax rate* was 20.4% compared to 20.8% for the nine months ended September 30, 2023. The adjusted provision (benefit) for income taxes* was $0.9 billion and $0.7 billion for the nine months ended September 30, 2024 and 2023, respectively. The increase in the tax provision was primarily due to the tax effect of the increase in adjusted earnings before taxes* partially offset by an increase in tax benefit associated with equity compensation for the nine months ended September 30, 2024 compared to the nine months ended September 30, 2023. DISCONTINUED OPERATIONS primarily comprise our former GE Vernova and GE HealthCare businesses, our mortgage portfolio in Poland (Bank BPH) and other trailing assets and liabilities associated with prior dispositions. Results of operations, financial position and cash flows for these businesses are reported as discontinued operations for all periods presented and the notes to the financial statements have been adjusted on a retrospective basis. See Note 2 for further information regarding our businesses in discontinued operations.

Other15 6 All other operating activities$(105)$444 2024 3Q FORM 10-Q 10 The cash impacts from changes in working capital was $(0.6) billion, a decrease of $0.9 billion compared to the nine months ended September 30, 2023, due to: current receivables of $(0.6) billion, driven by higher volume partially offset by higher collections, including increased collections from CFM International; inventories, including deferred inventory, of $(0.2) billion, driven by higher material purchases and lower liquidations primarily due to output challenges; current contract assets, contract liabilities and current deferred income were flat, driven by higher revenue recognition, offset by higher billings and net unfavorable changes in estimated profitability; progress collections of $0.2 billion, driven by higher collections; and accounts payable of $(0.2) billion, driven by higher disbursements related to purchases of materials in prior periods partially offset by higher volume. Cash used for investing activities was $0.9 billion in the nine months ended September 30, 2024, an increase of $5.8 billion compared to the nine months ended September 30, 2023, primarily due to: higher cash paid related to net settlements between our continuing operations and businesses in discontinued operations of $3.7 billion, primarily related to the separation of GE Vernova of $2.0 billion in 2024 and lower cash received of $1.1 billion related to the separation of GE HealthCare in 2023 (components of All other investing activities); a decrease in proceeds of $3.0 billion from the disposition of our remaining retained ownership interests in AerCap and Baker Hughes of $4.8 billion in 2023, partially offset by an increase in proceeds of $1.9 billion from GE HealthCare. These increases in cash used were partially offset by lower net purchases of insurance investment securities of $0.5 billion and proceeds from the dispositions of our non-core licensing business and Electric Insurance Company of $0.5 billion. Cash used for additions to property, plant and equipment and internal-use software, which are components of free cash flows*, was $0.8 billion and $0.6 billion in the nine months ended September 30, 2024 and 2023, respectively. Cash used for financing activities was $4.5 billion in the nine months ended September 30, 2024, a decrease of $5.7 billion compared to the nine months ended September 30, 2023, primarily due to: cash paid for redemption of GE preferred stock of $5.8 billion in 2023; lower net debt maturities of $2.5 billion; and an increase in cash received of $1.1 billion from stock option exercises (a component of All other financing activities); partially offset by an increase in treasury stock repurchases of $3.2 billion and higher dividends paid to shareholders of $0.2 billion.

CASH FLOWS FROM DISCONTINUED OPERATIONS Cash used for operating activities of discontinued operations was $1.1 billion in the nine months ended September 30, 2024, a decrease of $0.2 billion compared to the nine months ended September 30, 2023, primarily driven by lower net losses from our former GE Vernova business and disbursements for purchases of materials and separation costs incurred by our former GE HealthCare business in 2023. Cash used for investing activities of discontinued operations was $1.1 billion in the nine months ended September 30, 2024, a decrease of $1.5 billion compared to the nine months ended September 30, 2023, primarily driven by higher cash received of $3.7 billion from net settlements between our discontinued operations and businesses in continuing operations, due to cash received of $2.0 billion in 2024 related to the separation of our former GE Vernova business and cash paid of $1.1 billion in 2023 related to the separation of our former GE HealthCare business. In addition, there was a decrease in cash used due to the prior year separation of GE HealthCare cash and cash equivalents of $1.8 billion. These decreases in cash used were partially offset by a reduction of cash and cash equivalents of $4.2 billion due to the separation of GE Vernova in 2024. Cash used for financing activities of discontinued operations was $0.1 billion in the nine months ended September 30, 2024, a decrease of $2.0 billion compared to the nine months ended September 30, 2023, primarily driven by GE HealthCare's long-term debt issuance of $2.0 billion in connection with the spin-off in 2023. CRITICAL ACCOUNTING ESTIMATES. Please refer to the Critical Accounting Estimates and Other Items sections within MD&A and Note 1 to the consolidated financial statements of our Annual Report on Form 10-K for the year ended December 31, 2023 for a discussion of our accounting policies and critical accounting estimates.

*Non-GAAP Financial Measure 2024 3Q FORM 10-Q 13 ADJUSTED EARNINGS (LOSS) AND ADJUSTED EFFECTIVE INCOME TAX RATE (NON-GAAP)Three months ended September 30Nine months ended September 30

Gains (losses) on purchases and sales of business interests (pre-tax)(a)3560.33--3750.34(108)(0.10) Tax effect on gains (losses) on purchases and sales of business interests(10)(0.01)(6)(0.01)(5)-(3)-

Provision (benefit) for income taxes (GAAP)$198$26$567$493 Less: Tax effect on adjustments above(121)(231)(357)(235) Adjusted provision (benefit) for income taxes (Non-GAAP)$318$257$923$728

Effective income tax rate (GAAP)10.5%7.8%10.6%5.6% Adjusted effective income tax rate (Non-GAAP)20.3%19.2%20.4%20.8% (a) See the Corporate & Other and Other Consolidated Information sections for further information.

*Non-GAAP Financial Measure 2024 3Q FORM 10-Q 14 FREE CASH FLOWS (FCF) (NON-GAAP)Nine months ended September 30 20242023 Cash flows from operating activities (CFOA) (GAAP)$4,499 $3,354

Add: gross additions to property, plant and equipment and internal-use software(765)(612) Less: separation cash expenditures(716)(617) Less: Corporate & Other restructuring cash expenditures(123)(128)

Free cash flows (FCF) (Non-GAAP)$4,572 $3,487 We believe investors may find it useful to compare free cash flows* performance without the effects of separation cash expenditures and Corporate & Other restructuring cash expenditures (associated with the separation-related program announced in the fourth quarter of 2022). We believe this measure will better allow management and investors to evaluate the capacity of our operations to generate free cash flows. We also use FCF* as a performance metric at the company level for our annual executive incentive plan and performance stock units granted in 2024.

LEAP Engines(a)365 3891,029 1,174 Internal Shop Visit Growth %(b)(1)%2 %5 %14 % (a) LEAP engines are a subset of Commercial Engines. (b) Internal shop visit growth represents the change in shop visits completed for the period for customer-owned engines covered by a GE Aerospace or joint venture services agreement where GE Aerospace fulfills the shop visit maintenance activity. In 2024, LEAP shop visits greater than 500 hours are included in our shop visit count. The growth rates in 2024 and 2023 exclude LEAP quick turn events.