Energy Transition Market Growth

Wind: significant margin expansion in sight Wind 2023 2024E Revenue $9.8B Flat✶-a) EBITDA $(1.0) B Approaching profitability EBITDA margin (10.5)% EGE VERNOVA • • Dynamics Significant y/y EBITDA uplift in 2024 from price, productivity & cost savings Higher US volume starting in 2H'24 leading to HSD Onshore EBITDA margins • Lower but more profitable International volume Slight EBITDA improvement in Offshore, delivering on existing backlog-b) © 2024 GE Vernova and/or its affiliates. All rights reserved. * Non-GAAP Financial Measure (a organic basis (b- defined on a remaining performance obligation (RPO) basis Profitable beginning in 2025: higher Onshore margin; meaningfully lower losses at Offshore on higher deliveries & productivity Confident in continued financial improvement 42 42

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