NYSE: GEV

GE Vernova Inc. is a Delaware corporation with corporate headquarters in Cambridge, Massachusetts. On April 2, 2024, General Electric

Company (GE), which now operates as GE Aerospace, completed the previously announced spin-off (the Spin-Off) of GE Vernova. In

connection with the Spin-Off, GE distributed all of the shares of our common stock to its stockholders and we became an independent

company. See Note 1 in the Notes to the consolidated and combined financial statements for further information regarding the Spin-Off.

COMPANY STRATEGY. GE Vernova is positioned as an industry leader to fulfill the growing demand for electrical power, while driving the

energy transition forward. Our focus is on supplying our customers with products and services necessary to deliver reliable, affordable, and

sustainable electricity. We expect significant growth in demand for the offerings we provide to the electric power industry.

Our company strategy is focused on:

•Delivering on global sustainability by developing, providing, and servicing technologies that enable electrification and

decarbonization.

•Maintaining and enhancing strong relationships with many of the leading and largest utilities, developers, governments, and

electricity users.

•Servicing the existing installed base and delivering new technologies and processes, which improve customer outcomes while

driving increased profitability and cash flow.

•Improving margins and lowering risk through better underwriting.

•Streamlining our product portfolio to focus on core workhorse products, which will improve both cost and quality going forward.

•Using lean to improve our cost structure and productivity levels across our business and corporate functions.

•Innovating and investing, along with third parties, in new offerings and technologies that will help customers electrify and

decarbonize the world.

•Allocating capital as a whole and within our various businesses – focused on generating cash flow to invest in our core

businesses, invest in targeted mergers and acquisitions (M&A), and return at least 1/3 of our cash generation to our stockholders.

SUSTAINABILITY. As a company whose technology base helps generate approximately 25% of the world’s electricity, our integration of

sustainability into our core business strategy and culture reflects our mission to electrify to thrive and decarbonize the world.

To operationalize this commitment, we have built the sustainability governance framework of “the Control Room.” The Control Room is led

by our Chief Sustainability Officer, who supervises a cross-functional, global team, and chairs our Sustainability Council. Further, we have a

Safety and Sustainability Committee of the Board of Directors, which guides and oversees our sustainability goals, impacts, risks, and

efforts. Our operational efforts are aligned with our business strategy, the priorities of our stakeholders, our commitments, and our aim to

deliver innovative technologies to create a more sustainable electric power system.

The four pillars of our sustainability framework: Electrify, Decarbonize, Conserve, and Thrive:

•Electrify: Catalyze access to more secure, sustainable, reliable, and affordable electricity, while helping to drive global

economic development. We seek to add power generation and grid capacity to strengthen current electricity infrastructure and

provide critical redundancy, support electrification in underserved regions, and encourage economic development.

•Decarbonize: Invent, deploy, and service technology to help decarbonize and electrify the world. We seek to advance both

the near-term impact by improving the trajectory on carbon intensity and the long-term impact by deploying products that are

increasingly capable of lower carbon emissions once supporting infrastructure is deployed at scale.

•Conserve: Innovate more while using less. We are working to reduce both our direct and indirect greenhouse gas emissions

and have set a goal to achieve carbon neutrality for our Scope 1 and Scope 2 emissions by 2030. We also support the transition

to a more circular economy and recognize the importance of critical raw materials and nature in our mission. We are working to

track 90% of our top products as part of our circularity framework by 2030, including principles such as eco-design.

•Thrive: Advance safe, responsible, and inclusive working conditions in our operations and across our value chain. We

are committed to prioritizing safety, building and fostering an inclusive workplace globally and in the communities in which we

operate, promoting a culture of compliance and ethics, and advancing human rights across our supply chain.

The global shift towards a variety of energy sources, evolving and increased environmental regulations and requirements, and climate

change effects, present both challenges and opportunities that may impact our business. See