GE Vernova (GEV) investor relations material

Opening remarks and agenda

• Meeting opened with instructions for voting and submitting questions, and confirmation of meeting materials' availability.

• Attendees were welcomed by the board chair, who emphasized the importance of shareholder engagement and outlined the meeting's focus on reporting 2025 progress and voting on key matters.

Board and executive committee updates

• Board highlighted its diverse expertise in energy, infrastructure, policy, risk management, and sustainability.

• Emphasis placed on robust corporate governance and alignment with long-term value creation.

Financial performance review

• Achieved $59 billion in orders and $38 billion in revenue for 2025, with EBITDA margin expansion across all segments.

• Free cash flow improved by over $2 billion, and cash balance more than doubled to $8.8 billion by year-end 2025.

• Backlog grew to $150 billion, up $31 billion year-over-year, with $8 billion added in equipment backlog margin dollars.

• Raised 2028 financial outlook and increased share repurchase authorization to $10 billion.

• Returned $3.6 billion to shareholders in 2025 and $1.4 billion in Q1 2026.