Energy Transition Market Growth

Driving further FCF* growth with lean Leveraging lean to improve services billings Gas Power Example-a) - % billed within 30 days GE GE VERNOVA Meaningful inventory opportunity Inventory Balance ($B) • 27% 2022 75% 2023 Avg. bills outstanding decreased 126 days y/y • Accelerated ~$250M services cash conversion Finished goods-b) Raw materials ~7.4 ~8.0 ~8.4 2021 2022 2023 Inventory turns 2.6x 2.5x 2.5x Working capital velocity remains an opportunity to improve FCF* © 2024 GE Vernova and/or its affiliates. All rights reserved. * Non-GAAP Financial Measure (a includes Gas Power contractual services extra work & multi-year maintenance programs (b-includes Finished Goods and Deferred Inventory Costs 67 40

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