General Electric : 2022 SUStainability Executive Summary

GE 2022 SUSTAINABILITY REPORT

A Transformative Era of Action

"It all starts with our unique ability to innovate new technology the world needs to address the most pressing sustainability challenges."

2022 marked the beginning of a new era for GE. Our ~172,000 employees1 served customers in ~170 countries to drive decarbonization through the energy transition, create a smarter and more efficient future of flight, and enable precision care.

We successfully launched GE HealthCare and are preparing for the separation of GE Vernova, our portfolio of energy businesses, and GE Aerospace sometime in early 2024. At GE Vernova, our technology helps generate approximately 30% of the world's electricity and we have a meaningful role to play in the energy transition. At GE Aerospace, nearly 3 billion people flew with our technology under wing in 20222, and every two seconds a GE or partner2 power aircraft takes off.

H. LAWRENCE CULP, JR.

Chairman of the Board and Chief

Executive Officer, GE

Chief Executive Officer, GE Aerospace

The GE team is excited for the path ahead. In launching these three independent public

companies, we are advancing our commitment to sustainability and to GE's more than 130-year legacy of lifting up the quality of life for people around the world. By sharpening our focus on the specific missions of each business, we gain more opportunity for GE Vernova to electrify and decarbonize the world, for GE Aerospace to invent the future of flight, and for the newly independent GE HealthCare to create a world where healthcare has no limits.

Read the full report at www.ge.com/sustainability. TCFD, SASB and GRI indices can be found here.

Our Sustainability Priorities

SAFETY OF

OUR PEOPLE

Culture of

integrity in all

that we do

LIFTING UP OUR	ENVIRONMENTAL
COMMUNITIES	STEWARDSHIP

COMMITMENT TO

HUMAN RIGHTS

DRIVING	SMARTER AND
DECARBONIZATION	MORE EFFICIENT
THROUGH THE ENERGY	FUTURE OF
TRANSITION	FLIGHT

Progressing Our Efforts and Improving Programs

CLIMATE CHANGE:

• Progress toward 2030 carbon neutrality commitment: 28% reduction vs. 2019 (Scope 1 & 2 emissions)
• Updated progress on technology roadmaps for 2050 net zero ambition for Scope 3 emissions from use of sold products
• More detailed report on policy engagement and thought leadership on climate action, including GE's advocacy in support of clean energy tax credits and corporate leadership at COP27

PRODUCT SAFETY & QUALITY: Added detail about product safety and quality programs and initiatives in pursuit of SQDC-safety,quality, delivery and cost

PRODUCT STEWARDSHIP: Highlight progress towards achieving product stewardship goals while continuing to assess how to strengthen our efforts going forward

DIVERSITY & INCLUSION, HUMAN RIGHTS: Integrated into Sustainability Report following release of separate 2021 reports

Our Global Reach

ENERGY TRANSITIONFUTURE OF FLIGHT

~30%	3 out of 4
of the world's electricity	commercial flights
generated with help of GE technology	powered by GE or partner2 engines

Invested $4.2B3

in 2022 Global R&D

~172,0001

employees globally Customers in ~170 countries

1. On January 3, 2023, GE completed the planned separation of its healthcare business, launching GE HealthCare. As of December 31, 2022, GE had ~123,000 employees excluding GE HealthCare employees who are now part of the standalone company.
2. Includes equipment made by CFM & Engine Alliance Joint Ventures. CFM is a 50/50 Joint Venture between GE & Safran Aircraft Engines; Engine Alliance is a 50/50 Joint Venture between GE & Pratt & Whitney.
3. GE company-wide (inclusive of GE HealthCare), customer and partner funded.

GE 2022 SUSTAINABILIT Y REPORT EXECUTIVE SUMMARY | 1

Continuous Improvement in 2022

KEY METRICS: 2022 PERFORMANCE AND PRIORITIES

Our ESG performance and priorities demonstrate our alignment with the UN Sustainable Development Goals (SDGs) to help address identified societal challenges. In our 2022 Sustainability Report, we share three years of metrics in financial performance, diversity and inclusion, human rights, safety, environmental stewardship and lifting our communities. In 2022, we are proud that the suite of our key ESG metrics trended in positive directions.

Read our summarized performance and priorities here.

Key Metrics: Our Performance and Priorities

As an active participant and signatory to the UN Global Compact since 2008, we understand we play a role in helping achieve a better future for all by creating a more sustainable world. To put this in action, we apply the UN Guiding Principles on Business and Human Rights to help frame our program and practices. Our ESG performance in 2022 and priorities for 2023 and beyond align with the identified UN Sustainable Development Goals (SDGs) to help address the identified societal challenges. In 2022, we are proud that the suite of our key ESG metrics trended in positive directions.

On January 3, 2023, GE completed the previously announced separation of its healthcare business into a separate, independent publicly traded company, GE HealthCare Technologies, Inc. (GE HealthCare). This report covers GE Vernova and GE Aerospace only, except where otherwise noted. GE HealthCare is included in this section, the 2022 Key Metrics: Our Performance and Priorities.

TOPIC	BASELINE	2020	2021	2022			UN SDG
Financial Performance ($M)
Total Revenues		$75,833	$74,196	$76,555
Adjusted Revenues		$72,969	$71,090	$73,602
Profit (loss) (GAAP )		$5,970	$(3,683)	$1,412
Adjusted Profit		$2,246	$4,608	$5,835
CFOA (GAAP )		$1,025	$888	$5,864
Free Cash Flows		$635	$1,889	$4,758
Total Research and Development		$3,820	$3,685	$4,242
Diversity and Inclusion (pages 72-80)
GE U.S. Workforce, all employees
Total Race & Ethnic Minority		24.1%	24.2%	25.2%
Asian		8.7%	8.5%	8.5%
Black/African American		6.8%	6.7%	7.1%
Hispanic/Latinx		6.5%	6.8%	7.3%
American Indian/Alaskan Native		0.3%	0.3%	0.3%
Native Hawaiian/Pacific Islander		0.2%	0.1%	0.2%
Multiracial		1.6%	1.7%	1.9%
Disability (U.S.)			3.7%	3.2%
U.S. Veteran Status			10.1%	10.2%
Global Female Representation per Category
Female Representation, All Employees		21.9%	22.3%	22.8%
Female Representation, Professional Employees		26.2%	26.5%	26.9%
Female Representation in Leadership		26.0%	27.2%	29.5%
Human Rights: Supplier Responsibility Program	(pages 104-106)
Total Global Audits		1,286	1,115	1,233
Total Suppliers Approved		1,039	966	1,014
New Suppliers		433	220	222
Existing Suppliers		553	726	772
Supplier from Acquisition		53	20	20
Total Suppliers Rejected		71	26	44
New Suppliers		62	13	30
Existing Suppliers		8	13	14
Supplier from Acquisition		1	0	0
Total Findings		7,348	6,031	6,482
Percentage of Findings per Category
Health & Safety		29%	31%	31%
Environment		31%	31%	34%
Emergency Preparedness		21%	20%	16%
Human Rights & Labor		16%	14%	13%
Dormitory Standards		<1%	<1%	<1%
Conflict Minerals		2%	1%	1%
Security / Other		<1%	3%	6%
Audits per Region
China		41%	38%	34%
India		28%	27%	27%
North and South America		13%	18%	18%
Europe, Middle East & Africa		9%	8%	8%
Rest of Asia		9%	10%	13%

12 | GE 2022 SUSTAINABILIT Y REPORT

TOPIC	BA SELINE	2020	2021	2022			UN SDG
Safety (pages 82-84)
Injury & Illness Total Recordable Rate		0.53	0.60	0.47
Days Away from Work Incident Rate		0.29	0.32	0.21
Fatalities-Employees (Count)		3	0	0
Fatalities-Contractor Workers (Count)		4	4	3
Environmental Stewardship (pages 32-35,44-47,85-88, 100)
Environmental Performance
ISO 14001 Sites		97	111	148
Global Penalties Paid (in $ thousands)		25	63	13
Spills & Releases (Count)		24	27	19
Air Exceedances (Count)		10	1	3
Wastewater Exceedances (Count)		11	35	18
Climate Change and Energy
GE Operational GHG Emissions (million metric tons of	2.27	1.90	1.81	1.63
CO equivalent) (market based)
Scope 1 Emissions (million metric tons of		0.73	0.74	0.67
CO equivalent)
Scope 2 Emissions (million metric tons of		1.16	1.07	0.96
CO equivalent) (market based)
Direct SF Emissions (thousand metric tons		138	131	105
CO equivalent)
Scope 3 Net Emissions from sold products (million
metric tons of CO ) (net, new units, absolute)
GE Aerospace			28	34
GE Vernova			477	320
GE Operational Energy Use (MWh)	7,370,000	5,870,000	5,990,000	5,670,000
Total Electricity (MWh)		3,040,000	3,030,000	2,950,000
Renewable Energy Used (MWh)		53,000	63,100	141,000
Water
Total Freshwater Use (billions of gallons)		5.12	4.93	4.29
Once-Through Cooling Freshwater (billions of gallons)		1.85	1.69	1.30
Lifting Our Communities (pages 108-116) ($M)
GE Company Contributions via GE Businesses and the		$44.9	$34.9	$44.2
GE Foundation
Employee and Retiree Contributions		$16.8	$9.4	$9.1
Total GE "Family" Giving		$61.7	$44.3	$53.3
Total Contributions as a Percentage of		0.08%	0.06%	0.07%
GE Revenue

GE 2022 SUSTAINABILIT Y REPORT | 13

Driving Progress on Climate

CARBON NEUTRAL 2030 COMMITMENT

Having met our 2020 emissions reduction targets ahead of schedule, we set a new goal to achieve carbon neutrality within our own operations (i.e., Scope 1 and 2 emissions) by 2030. To achieve this goal, our businesses are making operational investments in energy efficiency, reducing emissions from the grid through smart power sourcing and using lean practices to eliminate energy waste. As of 2022, Scope 1 and 2 greenhouse gas emissions are down 28% compared to the 2019 baseline. While we are focused on driving absolute reductions to achieve carbon neutrality, where necessary, we will balance remaining emissions with carbon offsets. GE internally tracks progress to established targets versus a 2019 baseline.

Read more about GE's Scope 1 and 2 emissions

GE VERNOVA

GE AEROSPACE

~28%

Scope 1 & 2 reduction

(vs. 2019 baseline)

CLIMATE POLICY ENGAGEMENT

GE's efforts on climate change and the energy transition start with our strong support for the Paris Climate Agreement commitments and other ambitious targets to reduce emissions. Throughout 2022, we engaged in the public domain to advance thought leadership on how to achieve climate goals for the energy sector through strong policy, technology and investments. The past year was a landmark for stronger emphasis on action and partnership. Following on the heels of the successful COP27 in Egypt-referred to as the implementation summit-GE was part of the launch of the Corporate Coalition for Innovation & Technology toward Net Zero (CCITNZ). Back at home, GE strongly advocated for the inclusion of multiple provisions in the

PRODUCT SAFETY AND QUALITY

Lean is foundational to how we work at GE. Safety, quality, delivery and cost (SQDC)-in that order-help us deliver for our customers and build a world that works. These are not simply four metrics that we report on regularly, but instead are our desired set of shared instincts. At no point will an improvement in quality, delivery or cost be done at the expense of safety. All of the GE businesses are committed to creating safe and effective products that meet the needs of our customers and are doing this through continuously working to improve product quality. Read more

GE Vernova is working toward GE's carbon neutral commitment. For example, our Wind businesses are focused on: (1) reducing emissions and optimizing energy use in global manufacturing facilities worldwide through the installation of newer, more efficient equipment or by changing processes to emit less or require less energy overall, and (2) pursuing on-site renewable energy opportunities and signing Power Purchase Agreements (PPAs) from new renewable energy assets. In 2022, our Gas Power business used a lean approach to cut energy consumption from lighting, HVAC, compressed air, welding, large equipment, transport and waste management across 24 sites, resulting in a combined savings of 43 million kWh of energy.

GE Aerospace's strategy to meet its 2030 carbon neutral commitment is focused on: (1) energy-efficient infrastructure investments and optimization; (2) using lean practices to identify and reduce waste energy; and (3) exploring the use of Sustainable Aviation Fuel (SAF) and other low carbon fuels at engine testing operations. In 2022, GE Aerospace identified opportunities to improve energy efficiency at 18 of its major sites and is creating a long-term roadmap to meet our carbon neutral commitment.

Inflation Reduction Act, including clean energy tax credits to ensure success in decarbonization efforts and continued U.S. leadership in energy manufacturing and jobs-both today and in the future. Our heightened engagement is continuing throughout 2023 to help

NET ZERO 2050 AMBITION

In 2021, we articulated GE's ambition to be a net zero company by 2050, including not just GE's own operations but also the Scope 3 emissions associated with the use of our sold products. We are collaborating closely with our customers, suppliers, policymakers and other companies to turn net zero engineering challenges into business opportunities. We have several principles guiding the approach to our net zero ambitions:

formulate and support policies that advance a just transition and sustainability goals globally. Read more

OUR NET ZERO PRINCIPLES

• Credibility. Knowing this path will take decades, we prioritize

credibility first and foremost with our stakeholders to share what we

objectively know and don't know. This also means as we get better and

• Collaboration. We know no one company can solve these

issues alone. With GE's spirit of humility, we welcome continued

collaborations with our customers, investors, regulators and peers

Innovating Solutions for the World's Most Pressing Challenges

more credible information, we will share that with our stakeholders.

• Continuous learning. Our analysis is based on how we see things

today. We are committed to continuous learning to enable more

insights and opportunities to make a difference, and we expect to

make progress over time.

to achieve success toward our goals.

• Commitment to innovation and technology. Simply stated,

GE's role in the sector's path toward net zero is to deliver

state-of-the-art technology today to make progress while

innovating the breakthrough technologies for tomorrow.

Decarbonization and Electrification

Future of Flight

Applying these principles, we made progress in 2022 and provide updates toward the net zero ambition. Read more about GE's Scope 3

emissions

GE VERNOVA

GE AEROSPACE

Climate change is an urgent global priority. At the same time, energy demand is increasing, the importance of energy security is elevating and

Our energy businesses provide powerful, integrated solutions with the most innovative onshore and offshore wind turbines, most efficient

GE Aerospace is helping define flight for the next generation with industry-leading technology to reduce GHG emissions.

offer the potential to achieve at least a 20% additional improvement in fuel efficiency compared to today's state-of-the-art,single-aisle aircraft

2020-2030

Driving continued progress this decade.

2030-2050

Innovating for the future.

2020-2030	2030-2050
Driving continued progress this decade.	Innovating for the future.

nearly 775 million people are without access to reliable power. As a company whose technology helps generate approximately 30% of the world's electricity, we have a responsibility to lead the industry's decarbonization efforts and meet the rising global demand for more sustainable, reliable and affordable energy.

GE Vernova is committed to building and delivering state-of-the-art technology to reduce emissions today while investing in breakthrough technologies for a lower carbon future.

gas turbines, as well as advanced technology to modernize and digitize electrical grids. Beyond delivering technology the world needs today, we are equally focused on the important role of building the breakthrough technologies the world will need in the future, including small modular nuclear reactors, carbon capture, utilization and sequestration (CCUS), and low and zero carbon fuels, such as hydrogen, for new and existing gas plants.

Advancements in aerodynamics, engine architecture, and materials technology for GE and CFM International5 product lines have resulted in today's aircraft engines consuming 40% less fuel and emitting 40% less CO2 than engines manufactured in the 1970s and 1980s.

We are currently developing the next suite of engine technologies-including advanced architectures such as open fan, hybrid electric and electric propulsion concepts, and advanced thermal management concepts-that

engines. For example, GE Aerospace and Safran unveiled a bold technology development program in June 2021 called the CFM RISE5 (Revolutionary Innovation for Sustainable Engines) Program, which will demonstrate and mature a range of new, disruptive technologies for future engines that could enter service by the mid-2030s. GE Aerospace is also supporting industry initiatives to approve and adopt 100% Sustainable Aviation Fuel (SAF) and is partnering on a flight demonstration program to test zero carbon hydrogen fuel combustion.

2022 PROGRESS

Learn more on page 23

GE's newest 3.4 MW onshore wind turbine launched for North America.Learn more on

page 23

GE's LM6000 aeroderivative gas turbine operates on hydrogen-natural gas blend during COP27 in Egypt. Learn more on page 29

GE and Technip Energies began development of front-end engineering design (FEED) study for a carbon capture solution. Learn more on page 30

GridOS®

portfolio designed for grid orchestration.

Learn more on page 24

GE receives U.S. Department of Energy carbon capture grant targeting 95% emissions

reduction. Learn more on page 26

GE Hitachi receives memoranda of understanding or other agreements for its BWRX-300 small modular reactor in Canada, Czech Republic, Estonia, Poland, U.K., U.S. and Sweden. Learn more on page 28

GE awarded U.S. Department of Energy grants to accelerate the path towards 100% hydrogen combustion in gas turbines.

Learn more on page 26

2022 PROGRESS

Passport, HF120 and GEnx engines successfully tested with 100% SAF.

Learn more on page 38

GE Aerospace and customers surpassed 2,000 360 Foam Washes since 2017. Learn more on page 37

Qantas Airlines implemented GE Digital's Airspace Insight solution.

Learn more on page 39

GE Aerospace unveiled turbine center frame casing, one of largest additively manufactured parts for the aerospace industry. Learn more on

page 42

Airbus and CFM International5 announced plans to partner on

of this decade. Learn more on

page 41

to test high power, high voltage hybrid electric components in altitude conditions. Learn more

on page 41

Avio Aero launches hybrid electric technology demonstration program with hydrogen fuel cells.

Learn more on page 41

5 CFM International is a 50-50 joint company between GE and Safran Aircraft Engines. RISE is a registered trademark of CFM.

5 CFM International is a 50-50 joint company between GE and Safran Aircraft Engines.

2 | GE 2022 SUSTAINABILIT Y REPORT EXECUTIVE SUMMARY

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Product Stewardship

In response to increasing scarcity of resources and the expectations from customers, investors and regulators for producers to take heightened responsibility for the impacts of products across their full lifecycle, GE developed product stewardship and circularity goals in 2021. In 2022, GE businesses made progress toward achieving those goals while continuing to assess how to strengthen our efforts going forward. Over the past year, more than 100 personnel in over a dozen different functions were activated in the businesses to both assess the progress of existing circularity and product stewardship initiatives, and to draft objectives and roadmaps to further incorporate circularity and stewardship steps into the business strategy.

Read more

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How Our Strategy and Sustainability Priorities Align with the United Nations Sustainable Development Goals

The United Nations (UN) Sustainable Development Goals (SDGs) are an interlinked agenda of 17 objectives to help nations address our most pressing global challenges, from climate change to inequality. GE continues to play a critical role in advancing sustainability and quality of life. We have been a signatory to the UN Global Compact since 2008, and we see close alignment between 11 of the 17 SDGs and our business strategy and sustainability priorities.

Our Innovation

LEADING

We are committed to decarbonizing the energy sector while

THE ENERGY

increasing access to more sustainable, reliable and affordable

TRANSITION

electricity. As we are helping our customers to decarbonize

smartly and efficiently, we are ensuring that we become

carbon neutral in our own Scope 1 and 2 greenhouse gas (GHG)

emissions by 2030. As of 2022, Scope 1 and 2 greenhouse gas

emissions are down 28% compared to the 2019 baseline. We

also articulated our ambition to be net zero by 2050, including

not just GE's own operations, but also the Scope 3 emissions

associated with the use of our sold products.

DEVELOPING

We are helping define flight for the next generation with

THE FUTURE OF

industry-leading technology innovation that offers the potential

FLIGHT

to achieve at least a 20% improvement in fuel efficiency

compared to today's state-of-the-art,single-aisle aircraft

engines. We are also supporting industry initiatives to approve

and adopt 100% Sustainable Aviation Fuel (SAF) and partnering

on a flight demonstration program to test zero carbon hydrogen

fuel combustion.

Environmental Justice

GE implements its commitment to environmental justice (EJ) by:

1. committing to ensuring all communities where we operate realize the strongest environmental protection from our activities, regardless of the scope of applicable local regulations, if any; (2) fostering access to more sustainable, reliable and affordable electricity as it is critical to reducing poverty and hunger and promoting access to education and healthcare; and (3) supporting policies to clean up and redevelop idle contaminated properties into new hubs of economic growth and job creation. Beginning in 2019, GE enhanced its Brownfields program to prioritize cleanup and redevelopment of idle contaminated properties in EJ communities. GE committed more than $40 million to demolish its obsolete structures in EJ neighborhoods and has undertaken environmental investigation and cleanup at more than 45 of our highest priority EJ properties. We are working hand in hand with local governments, private groups, property experts and technical resources to define reuse plans that buttress community goals and catalyze sustainable economic development.

Read more

FORT WAYNE, INDIANA - ELECTRIC

WORKS - REDEVELOPMENT

From 1892 until January 2015, GE operated the 31-acre Fort Wayne Electric Works Plant. Following an extensive process with local and state stakeholders, the property was sold in 2017 and the new owner has transformed 10 buildings on the campus to support innovative use. The transformational work continues across other portions of the Electric Works campus.

Our SDG Strategy at a Glance View our full assessment of our SDG strategy and progress in our2022 Sustainability Report.

Our Priorities

SAFETY

HUMAN RIGHTS

ENVIRONMENTAL STEWARDSHIP

LIFTING OUR COMMUNITIES

GE's expectations to maintain a safe, healthy work environment extend well beyond our own operations to all places where we work-customer sites, field services, and at our project installation and construction locations-and to all those who work with us and on our behalf.

As detailed in our recent Human Rights Report, our suite of governance documents and our Due Diligence program provide the foundation from which we respect and protect the rights of our own workers, those of our suppliers and the communities affected by our operations and business relationships.

We collaborate across our value chain to turn net zero and other sustainability challenges into opportunities to advance more sustainable development.

We put our innovation, technology and resources to work locally, nationally and internationally, partnering to provide advancement, education opportunities, mentoring and community assistance.

Biodiversity

Biodiversity refers to the variety of plants, animals, habitats and ecosystems across the world. Recent policy developments, such as the Kunming-Montreal Global Biodiversity Framework adopted at the 15th Conference of the Parties for the Convention on Biological Diversity in 2022, are shining a spotlight on the importance of biodiversity conservation. GE understands the health and preservation of biodiversity are fundamental to ensuring a sustainable future for communities, nature and business alike, which is why we are piloting business level biodiversity assessments within selected business segments. This work will help our businesses identify opportunities to protect and enhance biodiversity in the areas in which GE operates. GE has also begun to assess the relevant voluntary frameworks and potential future legislation related to biodiversity. The goal of these early efforts is to broaden business and functional teams' understanding of nature impacts and nature positive solutions.

Read more

NATIVE SPECIES RESTORATION Evendale, Ohio

Our Approach

GOVERNANCE

CULTURE OF

INTEGRITY

ADVANCING

DIVERSITY

AND INCLUSION

We integrate sustainability across how we operate, from Board oversight to enterprise risk management and strategy development. The success of this integration is informed by our continual engagement with our stakeholders, including employees, customers, investors, suppliers, communities, government officials and the public.

We focus not just on what we do, but how we do it-integrity is core to everything we do. The Spirit and The Letter contains policies that are foundational to how we meet our sustainability commitments.

Achieving long-term, sustainable diversity, equity and inclusion (DEI) progress takes work, and our efforts have focused on three strategic pillars-transparency, accountability and community.

See our work in action through our employee resource groups and pay equity commitment and our work with communities creating more equitable access to STEM education.

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