General Electric Co,
Fiscal Year 2025 Q3.

Segment profit margin14.1 %14.3 %13.5 %12.7 % For the three months ended June 30, 2025, revenue was up 7%, and profit was up 5%, compared to the three months ended June 30, 2024. D&S revenue increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by engine mix. P&AT revenue increased primarily due to services volume and price. Profit increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by incremental investments to support next-generation projects and inflation in our supply chain. For the six months ended June 30, 2025, revenue was up 4%, and profit was up 10%, compared to the six months ended June 30, 2024. D&S revenue increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by lower services volume. P&AT revenue increased primarily due to services volume and price. Profit increased primarily due to increased engine deliveries, aircraft systems product growth, customer mix and productivity. This increase was partially offset by incremental investments to support next-generation products and inflation in our supply chain.

CASH FLOWS FROM DISCONTINUED OPERATIONS Cash used for operating activities of discontinued operations decreased $0.5 billion for the six months ended June 30, 2025 compared to 2024, primarily driven by working capital cash usage and cash paid for income taxes at our former GE Vernova business in 2024. Cash from investing activities of discontinued operations increased $1.6 billion for the six months ended June 30, 2025 compared to 2024, primarily driven by a reduction of cash and cash equivalents of $4.2 billion due to the separation of our former GE Vernova business in 2024, partially offset by lower cash received of $2.8 billion from net settlements between our discontinued operations and businesses in continuing operations primarily related to establishment of the opening cash balance for our former GE Vernova business in 2024. Cash used for financing activities of discontinued operations decreased $0.1 billion for the six months ended June 30, 2025 compared to 2024, primarily driven by net debt repayments by our former GE Vernova business in 2024. 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, 2024 for a discussion of our accounting policies and critical accounting estimates.

Less: Gains (losses) on retained and sold ownership interests and other equity securities (net of tax)3-(393)(0.36)110.012400.22 Restructuring & other (pre-tax)(a)(26)(0.02)(77)(0.07)(27)(0.03)(147)(0.13)

Net income from continuing operations before taxes (GAAP)$2,389$1,447$4,634$3,434 Less: Total adjustments above (pre-tax)211(213)519477 Adjusted net income before taxes (Non-GAAP)$2,177$1,660$4,115$2,957

RPOJune 30, 2025December 31, 2024 Equipment$24,389 $22,509 Services150,008 149,127 Total RPO$174,397 $171,635 As of June 30, 2025, RPO increased $2.8 billion, or 2%, from December 31, 2024, at Commercial Engines and Services, as a result of engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenue recognized, and at Defense & Propulsion Technologies, primarily from engine orders outpacing revenue recognized.

SEGMENT OPERATIONS COMMERCIAL ENGINES & SERVICES. In the first six months of 2025, demand for commercial air travel grew with departures up nearly 4%. We are in frequent communication with our airline, airframe and maintenance, repair and overhaul (MRO) customers about the outlook for commercial air travel, new aircraft production, fleet retirements and after-market services, including shop visit and spare parts demand. In the first half of 2025, we announced significant new deals with several major customers. Qatar Airways signed an agreement to purchase more than 400 engines, including 60 GE9X and 260 GEnx engines, with additional options and spares, to power its next- generation Boeing 777-9 and Boeing 787 aircraft. International Airlines Group announced an agreement to purchase GEnx engines to power their new fleet of Boeing 787 aircraft. ANA Holdings committed to more than 75 LEAP install and spare engines to power its Boeing 737 MAX and A321 NEO fleets, and also selected our GEnx engines to power its order of Boeing 787s. Malaysia Aviation Group ordered 60 LEAP install engines, plus additional spares, to power their new fleet of Boeing 737 MAX aircraft. Korean Air announced an agreement for GEnx and GE9X engines to power their recent order of Boeing 787-10s and Boeing 777-9s. Internal shop visit revenue grew in the second quarter and total engine deliveries and LEAP engine deliveries increased primarily due to improved material supply. Total engineering investments, both company and partner-funded, increased compared to prior year. We are investing in our manufacturing and overhaul facilities and are deploying engineering and supply chain resources to increase production, expand capacity and strengthen yield. We also remain committed to investing in developing and maturing technologies that enable a more efficient future of flight. Notably, CFM International's RISE program is a suite of pioneering technologies including Open Fan, compact core and hybrid electric systems for compatibility with alternative fuels. The RISE program has completed over 350 component and module tests. This is one of several initiatives underway to help invent the future of flight. We also continued to invest to develop technologies to support our defense customers by developing technologies for sixth-generation aircraft.

Adjusted Corporate & Other operating costs (Non-GAAP)(70)(125) Corporate & Other operating profit (cost) (GAAP)$43 $355 Less: gains (losses), impairments, Insurance, and restructuring & other113 481

Adjusted Corporate & Other operating costs (Non-GAAP)$(70)$(125) Corporate & Other profit (costs)38 (3) Eliminations(108)(122) Adjusted Corporate & Other operating costs (Non-GAAP)$(70)$(125) Adjusted Corporate & Other operating costs* excludes gains (losses) on purchases and sales of business interests, gains (losses) on retained and sold ownership interests and other equity securities, higher-cost restructuring programs, separation costs, our run-off insurance operations and U.S. tax equity profit (loss). We believe that adjusting Corporate & Other costs to exclude the effects of items that are not closely associated with ongoing operations provides management and investors with a meaningful measure that increases the period-to-period comparability of our ongoing corporate costs. For the three months ended March 31, 2025, revenue increased by $0.1 billion compared to the three months ended March 31, 2024, due to higher run-off insurance operations revenue and lower intercompany eliminations. Corporate & Other operating profit decreased by $0.3 billion due to $0.6 billion of lower gains on retained and sold ownership interests and other equity securities, primarily related to our GE HealthCare investment, partially offset by $0.2 billion of lower separation costs and $0.1 billion of lower restructuring and other charges. Adjusted Corporate & Other operating costs* decreased primarily due to a reduction in our functional costs and lower EHS costs, partially offset by lower bank interest.

Tax effect on non-operating benefit (cost) income(42)(0.04)(46)(0.04) Less: Non-operating benefit (cost) income (net of tax)1590.151710.16 Gains (losses) on purchases and sales of business interests (pre-tax)(a)--100.01

RPOJune 30, 2025December 31, 2024 Equipment$12,384 $11,462 Services142,848 142,182 Total RPO$155,232 $153,644 As of June 30, 2025, RPO increased $1.6 billion from December 31, 2024, from increases in equipment and services, primarily as a result of engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenue recognized. DEFENSE & PROPULSION TECHNOLOGIES. Our results in the second quarter of 2025 reflect domestic and international government defense departments' focus on modernizing and scaling their forces while continuing flight operations, driving services demand. A key underlying driver of our business is government funding, as most of the revenue in Defense & Systems is derived from funding that flows through the U.S. Department of Defense (DoD) budget, or equivalent international budgets. In the first half of 2025, we announced an Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force valued up to $5 billion to support foreign military sales for F110-GE-129 engines, which power F-15 and F-16 aircraft operated by allied nations worldwide. We also achieved important development and testing milestones on two advanced engines for the U.S. war fighter. We completed initial ground runs for the T901 on a Black Hawk helicopter and we also completed a Detailed Design Review for the XA102 adaptive cycle engine.

OTHER CONSOLIDATED INFORMATION RESTRUCTURING AND SEPARATION COSTS. Significant, higher-cost restructuring programs, primarily related to the separations, 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. 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 $0.2 billion for both the three months ended June 30, 2025 and 2024, and $0.4 billion and $0.5 billion for the six months ended June 30, 2025 and 2024, respectively. The primary components of interest and other financial charges are interest on short-term and long-term borrowings and interest on tax deficiencies.

4 2025 2Q FORM 10-Q For the six months ended June 30, 2025, total revenue increased $2.9 billion, or 16%, compared to the six months ended June 30, 2024. Equipment revenue increased, driven by increased engine deliveries and improved pricing. Services revenue increased, due to increased spare parts volume, increased internal shop visit volume and shop visit workscopes and improved pricing.

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 flow* 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 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 $10.9 billion at June 30, 2025, of which $3.6 billion was held in the U.S. and $7.3 billion was held outside the U.S. Cash held outside the U.S. has generally been reinvested in active foreign business operations; however, substantially all of our unrepatriated income was 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 significant tax cost. Cash, cash equivalents and restricted cash at June 30, 2025 included $0.4 billion of cash held in countries with currency control restrictions, which 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 $1.2 billion of cash in our run-off insurance operations, which was classified as All other assets in the Statement of Financial Position, and $1.4 billion of cash in our discontinued operations held by Bank BPH (see Note 2). On March 7, 2024, the Company announced that the Board of Directors had authorized the repurchase of up to $15.0 billion of our common stock. Under this program, shares may be repurchased on the open market, via various strategies, including plans complying with rules 10b5-1 and 10b-18 as well as plans using accelerated share repurchases. In connection with this authorization, we repurchased 16.6 million shares for $3.5 billion in the first half of 2025. This included repurchases of 10.5 million shares for $2.3 billion using accelerated stock repurchases as a mechanism to achieve planned repurchase volumes within a quarter during closed windows. BORROWINGS. Consolidated total borrowings were $18.9 billion and $19.3 billion at June 30, 2025 and December 31, 2024, respectively, a decrease of $0.4 billion, mainly due to maturities of $1.3 billion partially offset by currency exchange of $0.8 billion. We plan to refinance these maturities in 2025, subject to market conditions. The Company also holds a five-year unsecured revolving credit facility in an aggregate committed amount of $3.0 billion and had zero outstanding at June 30, 2025. CREDIT RATINGS AND CONDITIONS. We have relied, and may continue to rely, on the short- and long-term debt capital markets to fund, among other things, a significant portion of our operations. The cost and availability of debt financing is influenced by our credit ratings. Moody's Investors Service (Moody's) and Standard and Poor's Global Ratings (S&P) currently issue ratings on our short- and long-term debt. On February 14, 2025, Moody's upgraded our long-term rating from Baa1 to A3 and maintained our positive outlook. On March 25, 2025, S&P upgraded our long-term rating from BBB+ to A- and maintained stable outlook. Our credit ratings as of the date of this filing are set forth in the table below.

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 $3.9 billion for the six months ended June 30, 2025, an increase of $1.3 billion compared to 2024, 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) driven by all segments and an increase in sales discounts and allowances, partially offset by an increase in working capital growth and income tax payments. The components of All other operating activities included:

Six months ended June 3020252024 Increase (decrease) in employee benefit liabilities$(293)$(279) Net restructuring and other charges/(cash expenditures)(28)(66)

(Gains) losses on purchases and sales of business interests- (21) Net interest and other financial charges/(cash paid)(42)20 Other deferred assets11 (108)

Other(64)(74) All other operating activities$(417)$(528) Cash used from changes in working capital was $(0.5) billion for the six months ended June 30, 2025, an increase of $0.5 billion compared to 2024, due to: current receivables of $(1.1) billion, from higher volume partially offset by higher collections; inventories, including deferred inventory, of $(0.2) billion, driven by higher material purchases; current contract assets, contract liabilities and current deferred income of $(0.2) billion, driven by higher revenue recognition, partially offset by billings and net unfavorable changes in estimated profitability on long-term service contracts; progress collections were flat, driven by higher collections offset by higher liquidations; and accounts payable of $1.1 billion, driven by higher volume and lower disbursements mainly related to purchases of materials in prior quarters. Cash used for investing activities was $(0.9) billion for the six months ended June 30, 2025, a decrease of $1.1 billion compared to 2024, primarily due to: lower cash paid related to net settlements between continuing operations and businesses in discontinued operations of $2.8 billion, primarily related to the separation of GE Vernova in 2024 (a component of All other investing activities); and lower net purchases of insurance investment securities of $1.3 billion; partially offset by a decrease in proceeds of $2.6 billion from the disposition of our ownership interests in GE HealthCare in 2024 and business acquisitions of $0.4 billion in 2025. Cash used for additions to property, plant and equipment and internal-use software, which are components of free cash flow*, was $0.5 billion for both the six months ended June 30, 2025 and 2024, respectively. Cash used for financing activities was $(5.5) billion for the six months ended June 30, 2025, an increase of $2.5 billion compared to 2024, primarily due to: an increase in treasury stock repurchases of $1.1 billion, higher net debt maturities of $0.6 billion, a decrease in cash received of $0.6 billion from stock option exercises (a component of All other financing activities); and higher dividends paid to shareholders of $0.3 billion.

2025 2Q FORM 10-Q 11 ADJUSTED REVENUE, OPERATING PROFIT AND PROFIT MARGIN (NON-GAAP)Three months ended June 30Six months ended June 30 2025202420252024

Operating profit (loss) (Non-GAAP)$2,337$1,897$4,483$3,447 Operating profit (loss) margin (Non-GAAP)23.0%23.1%23.4%21.1% (a) See the Corporate & Other and Other Consolidated Information sections for further information. We believe that adjusting revenue provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of revenue from our run-off insurance operations. We believe that adjusting profit to exclude the effects of items that are not closely associated with ongoing operations provides management and investors with a meaningful measure that increases the period-to-period comparability. Gains (losses) and restructuring and other items are impacted by the timing and magnitude of gains associated with dispositions, and the timing and magnitude of costs associated with restructuring and other activities. We also use Adjusted revenue* and Operating profit* as performance metrics at the company level for our annual executive incentive plan for 2025.

*Non-GAAP Financial Measure 12 2025 2Q FORM 10-Q ADJUSTED NET INCOME (LOSS) AND ADJUSTED EFFECTIVE INCOME TAX RATE (NON-GAAP)Three months ended June 30Six months ended June 30

Tax effect on gains (losses) on purchases and sales of business interests--(2)-3-5- Less: Gains (losses) on purchases and sales of business interests (net of tax)--80.013-250.02

Gains (losses) on retained and sold ownership interests and other equity securities (pre-tax)(a)3-(393)(0.36)90.012410.22 Tax effect on gains (losses) on retained and sold ownership interests and other equity securities(b)(c)----1-(1)-

Effective income tax rate (GAAP)16.2%8.6%14.5%10.7% Adjusted effective income tax rate (Non-GAAP)18.7%20.3%18.2%20.5% (a) See the Corporate & Other and Other Consolidated Information sections for further information.

*Non-GAAP Financial Measure 2025 2Q FORM 10-Q 13 FREE CASH FLOW (FCF) (NON-GAAP)Six months ended June 30 20252024 Cash flows from operating activities (CFOA) (GAAP)$3,891 $2,586

Add: gross additions to property, plant and equipment and internal-use software(535)(499) Less: separation cash expenditures(146)(572) Less: Corporate & Other restructuring cash expenditures(45)(108)

Free cash flow (FCF) (Non-GAAP)$3,547 $2,767 We believe investors may find it useful to compare free cash flow* 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 flow. We also use FCF* as a performance metric at the company level for our annual executive incentive plan and performance stock units granted in 2025.