Energy Transition Market Growth

Building a healthy, multi-year backlog-a) Electrification equipment backlog Margin-b) EGE VERNOVA Electrification equipment backlog conversion (% of YE'23 backlog) +1 pts +5 pts ~$6B ~$5B ~$13B ↑ ~30% ~50% ~20% 2021 2022 2023 Growing backlog with accretive margins Strong demand... orders > revenue Selective underwriting + pricing actions • 2025F 2026+ 2024E ~50% of backlog to convert over next 2 years • Delivery milestones aligned to customer need • Capacity investments + lean should yield upside Sizeable long-term revenue & margin visibility © 2024 GE Vernova and/or its affiliates. All rights reserved. (a-defined on a remaining performance obligation (RPO) basis (b-refers to average contribution margin in backlog 55

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