Energy Transition Market Growth

Substantial FCF* improvement Consistent FCF* growth ($B) • Key drivers Continued adj. EBITDA* growth • Working capital remains a FCF* source • Taxes a headwind going forward 2022 (0.6) 0.1 0.7-1.1 EGE VERNOVA Balanced capex supporting growth Capex spend ($B) D&A range 1.2-1.8 ~0.8 ~0.7 -a) -a) 2023 2024E 2025F 2023 2024E 2025F We expect to deliver increasing FCF* © 2024 GE Vernova and/or its affiliates. All rights reserved. * Non-GAAP Financial Measure (a-2022 FCF* presented on a historical carve-out basis; 2023 FCF* presented on a pro forma basis after management adjustments 66

View entire presentation