#1GE GEPIL Investors Call December 10, 2020 : Confidential. Not to be copied, reproduced, or distributed without prior approval. 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 http://www.ge.com/investor-relations/disclaimer-caution-concerning-forwardlooking- statements as 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 materially. to total risk-weighted assets.] NON-GAAP 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 U.S. generally accepted accounting principles (GAAP). Certain of these data are considered "non-GAAP financial measures" under the U.S: Securities and Exchange Commission rules. These hon-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 posted to the investor relations section of our website at www.ge.com. [We use non-GAAP financial measures including the following: ⚫ Operating earnings and EPS, which is earnings from continuing operations excluding non-service-related pension costs of our principal pension plans. ⚫ GE Industrial operating & Verticals earnings and EPS, which is operating earnings of our industrial businesses and the GE Capital businesses that we expect to retain. • GE Industrial & Verticals revenues, which is revenue of our industrial businesses and the GE Capital businesses that we expect to retain. • Industrial segment organic revenue, which is the sum of revenue from all of our industrial segments less the effects of acquisitions/dispositions and currency exchange. •Industrial segment organic operating profit, which is the sum of segment profit from all of our industrial segments less the effects of acquisitions/dispositions and currency exchange. ⚫ Industrial cash flows from operating activities (Industrial CFOA), which is GE's cash flow from operating activities excluding dividends received from GE Capital. ⚫ Capital ending net investment (ENI), excluding liquidity, which is a measure we use to measure the size of our Capital segment. . ⚫ GE Capital Tier 1 Common ratio estimate is a ratio of equity#2AGENDA . • (Gε) GE South Asia overview GEPIL promoters' view GEPIL steps post GE's announcement GEPIL strategic direction Q&A Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 2#3(GE GE#490 At GE, We Rise to the Challenge of Building a World that Works ~200,000 employees 170+ countries 125+ years of innovation 4#5GE global portfolio 曲 Power Equipping 90% of transmission utilities worldwide 7,700+ gas turbines 6,000 coal and nuclear steam turbines Renewable Energy 45,000+ onshore wind turbines Aviation Powering - 37,800 commercial aircraft engines* and ~26,000 military aircraft engines Healthcare 4 million+ healthcare installations (Gε) Digital Capital + Research + Global Growth + Additive *Including CFM International, a 50-50 joint venture between Snecma (Safran) and GE. Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 5#6. GE in South Asia • • 6 Countries - India, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives 16 Manufacturing Sites 4 Technology & Engineering Centre • 30+ Sales Offices Over 18,000 Employees * GE Businesses in South Asia # Aviation Renewable Energy Steam Power Gas Power Systems & Power Services Healthcare (Gε) 出 Head Office Delhi NCR Manufacturing Technology Centres Business Offices Sanand Vadodara-- Mumbai Pune Multi Modal Facility Bengaluru John F. Welch Technology Centre + Digital Hub + Healthcare Manufacturing Facilities Kolkata Dhaka Durgapur -Hyderabad Hyderabad Technology Centre -Chennai Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved Colombo 6#7(GE GEPIL#8AGENDA GE South Asia overview ⚫ GEPIL promoters' view . • GEPIL steps post GE's announcement GEPIL strategic direction Q&A (Gε) Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 8#9GEPIL promoters' view Actively assisting GEPIL in development of long-term strategic directions . . Leading strategic consultant advising GEPIL in exploring potential growth opportunities Confirms that the existing technology arrangement from GE to GEPIL for using GE's FGD technology in India continues (Gε) Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 9#10AGENDA • GE South Asia overview GEPIL promoters' view GEPIL steps post GE's announcement ⚫ GEPIL strategic direction Q&A (Gε) Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 10#11GEPIL steps post GE's announcement (dated 21st Sept. 2020) GEPIL via stock exchange intimation dated 01 Nov. 2020 notified its intent to continue pursuing FGD business opportunities GEPIL's Board continues to evaluate its options given the declining new build boiler market in India GEPIL to continue services activities for coal plants in India (Gε) Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 11 14#12GEPIL strategic directions Continue offering AQCS incl. FGD • Steam Power services • Hydro Gas + Potential growth areas Expanded AQCS offerings Expand Steam Power services Geographical expansion - services/ TFA Repurposing Durgapur for services Flexible operation O&M for coal plants Waste to Energy (Gε) Biomass/Fly Ash management Exploring potential growth areas for long term sustainable growth for GEPIL Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved TFA: Technical Field Advisors 12#13Re-balancing the business portfolio mix Orders composition 100%* New build vs Services EPC vs non-EPC Govt. vs Private (GE) Present Potential trends ■New build Services Present ■ЕРС Potential trends non-EPC Present Potential trends ■Govt. ■Private The above graphics are not to scale and are for representation purpose only. *100% value representing the business mix, not an absolute order value. The graphics represent only the expected change in order intake trends and are not to be construed as a forecast in any manner whatsoever. Confidential. Not to be copied, reproduced, or distributed without prior approval © 2020 General Electric Company - All rights reserved 13 13#14GE Q & A