In an increasingly electrifying world, efficiency is crucial. The global energy sector is adopting HVDC (high-voltage direct current) technology for its superior capability and cost-effectiveness over long distances. HVDC systems can transmit more than three times as much power as alternating current (AC), with up to 50% fewer losses.

CAMBRIDGE, Mass. (October 21, 2025) - GE Vernova Inc. (NYSE: GEV) today announced that GE Vernova will acquire the remaining fifty percent stake of Prolec GE, its unconsolidated joint venture with Xignux, further positioning GE Vernova as a global leader serving growing grid markets. The deal will accelerate GE Vernova's Electrification segment’s growth trajectory, the company's fastest-growing segment, by expanding its presence in and support for North America, where demand for grid technologies is rising rapidly. This acquisition expands GE Vernova’s capability to serve both North American and global customers, at a time in which these markets are experiencing rapid electricity demand growth, driven in part by the growth of data centers and new policies implemented to expand the deployment of critical grid and electrification equipment.

Prolec GE is a leading grid equipment supplier, producing transformers across most ratings and voltages with approximately 10,000 global employees across seven manufacturing sites globally, including five in the U.S. The joint venture was originally established between Xignux and General Electric (GE) in 1995, and this acquisition consolidates Prolec GE after 30 years of partnership.

"We're excited to execute this highly attractive and strategic move to acquire full ownership of our Prolec GE joint venture from Xignux, which accelerates GE Vernova's global strength in grid technologies,” said GE Vernova CEO Scott Strazik. “This acquisition aligns with our strategic and financial objectives and is also good for our customers by strengthening our presence in North America where demand for grid equipment is growing rapidly. The deal is immediately accretive before synergies, with a partner we know well, and will drive additional profitable growth for GE Vernova. I want to thank the teams at both companies and look forward to welcoming the Prolec GE team to GE Vernova."

"We have taken this decision with full conviction after years of valued partnership with GE and GE Vernova. This transaction provides the opportunity for this business and team to continue their growth under the capabilities of a global leader," said Xignux CEO Juan Ignacio Garza Herrera. "We reaffirm our commitment to México and will continue driving our other businesses in North America by investing in innovation, technology and expansion, while contributing to the development and integration of the region. I want to express my deep gratitude to all Prolec GE employees, whose talent, commitment, and dedication have been essential."

Recent Prolec GE capacity expansion and innovation investments exceed $300 million in the U.S. and Mexico, including a recently announced $140 million investment and the creation of 330 new jobs over the next three years in Goldsboro, NC.

Under the purchase agreement, GE Vernova will pay $5.275 billion at closing, expected to be funded equally between cash and debt. The acquisition is expected to close by mid-2026, subject to the completion of customary regulatory approvals.

GE Vernova will discuss the transaction during an extended third quarter earnings conference call tomorrow at 7:30 AM Eastern Time. Materials related to the transaction have been posted on GE Vernova’s Investor Relations website at www.gevernova.com/investors/events.

Stand-alone Prolec GE Financials ^-a)

Anticipated Deal Funding Structure

Morgan Stanley & Co. LLC acted as financial advisor to GE Vernova on the transaction and Skadden, Arps, Slate, Meagher & Flom LLP provided legal counsel to GE Vernova. J.P. Morgan Securities LLC advised Xignux and Sidley Austin LLP served as legal counsel to Xignux.

* Non-GAAP Financial Measure
(a – forecasts prepared by GEV from data provided by the joint venture under the joint venture’s accounting policies, excluding any expected synergies, integration costs, and purchase price accounting adjustments determined through due diligence
(b - current GEV adjusted EBITDA* includes equity method income from Prolec GE, which equaled $17M in 2022, $93M in 2023, and $105M in 2024

###

About GE Vernova
GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 75,000 employees across approximately 100 countries around the world.

Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.

GE Vernova currently employs approximately 18,000 people in the United States of America across all 50 states. With more than 129 years of experience in Mexico, GE Vernova today employs over 1,700 people across five sites, and its equipment provides 38 GW of electricity generating capacity—nearly 42% of the country’s total—through advanced technologies including eight HA gas turbines, the Laguna Verde nuclear plant, and one of the world’s largest fleets of F-class gas turbines.

About Xignux
Xignux is a leader in the energy and food industries. Based in Monterrey, México, we manage a variety of companies that energize life and society to contribute to a better world, thanks to the hard work and talent of more than 33,000 employees in México, the United States, and Brazil. In the energy industry, Viakable offers electrical conductors, and Prolec GE specializes in energy transformation and delivery. In the food sector, Qualtia provides a wide portfolio of cheeses, cold cuts, meats, and food service, while BYDSA produces savory snacks. Through its Social Responsibility model and the Xignux Foundation, the company also contributes to society’s sustainable development with active participation in four priority areas: energy, nutrition, education, and community development. Xignux was founded 69 years ago and the solutions from its companies reach over 35 countries. Learn more about Xignux at www.xignux.com or follow us on LinkedIn Xignux.

Non-GAAP Financial Measures
Prolec GE Adjusted EBITDA* and Adjusted EBITDA margin*
Prolec GE’s Adjusted EBITDA* and Adjusted EBITDA margin* are non-GAAP financial measures and are forecasts of the joint venture as a standalone business prepared by GE Vernova based on data provided by the joint venture and prepared under its accounting policies and exclude any expected synergies, integration costs, and purchase price accounting adjustments determined through due diligence. We believe that Prolec GE’s Adjusted EBITDA* and Adjusted EBITDA margin*, which are adjusted to exclude the effects of unique and/or non-cash items that are not closely associated with ongoing operations, provide management and investors with meaningful measures of performance that increase the period-to-period comparability by highlighting the results from ongoing operations and the underlying profitability factors. We believe Prolec GE’s Adjusted EBITDA* and Adjusted EBITDA margin* provide additional insight into how the business is expected to perform, on a normalized basis. However, Prolec GE’s Adjusted EBITDA* and Adjusted EBITDA margin* should not be construed as inferring that Prolec GE’s future results will be unaffected by the items for which the measures adjust. We cannot provide a reconciliation of the differences between Prolec GE’s expected Adjusted EBITDA* and Adjusted EBITDA margin* and the corresponding GAAP financial measures without unreasonable effort due to the uncertainty and inherent difficulty of predicting the occurrence and financial impact of certain items, including the applicable tax rate, foreign exchange rates, the impacts of depreciation and amortization, and changes to conform accounting to U.S. GAAP.

Prolec GE free cash flow*
Prolec GE’s free cash flow* is a non-GAAP financial measure and is a forecast of the joint venture as a standalone business prepared by GE Vernova based on data provided by the joint venture and prepared under its accounting policies and exclude any expected synergies, integration costs, and purchase price accounting adjustments determined through due diligence. We cannot provide a reconciliation of the differences between Prolec GE’s free cash flow* and the corresponding GAAP financial measure without unreasonable effort, including due to the uncertainty of timing for capital expenditures and changes to conform accounting to U.S. GAAP.

GE Vernova Forward-Looking Disclaimer
This press release contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements often address GE Vernova’s expected future business and financial performance and financial condition, our agreement to acquire Xignux's 50% GE Prolec JV interest, the expected financing for that acquisition, expected synergies, our capital allocation strategy, the expected performance of GE Vernova’s products and those it expects to acquire, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

A bolt of lightning crackles through the air. An instant later there’s a flash, followed by an ominous sizzle: the lightning struck a powerline. Normally, you’d run inside and call the electric company.

Berlin, Germany (08 July, 2025) – GE Vernova Inc. (NYSE: GEV) today announced it has been awarded a contract by German transmission system operator TransnetBW to modernize the Kühmoos grid node - an important electrical substation in southern Germany that plays a vital role in cross-border power flows and regional grid stability. Once complete, the upgraded site is expected to enhance frequency regulation, voltage stability, and power exchange between Germany, France, and Switzerland.

Strengthening a Strategic Grid Node

Located near the Swiss border, Kühmoos serves as a critical transmission hub and connection point for two major pumped-storage hydropower plants. As part of Germany’s broader effort to strengthen grid infrastructure the modernization of Kühmoos aims to increase the capacity and reliability of the substation to support the integration of renewable energy and rising power flows across interconnected European networks.

Scope of GE Vernova’s Work

GE Vernova’s Grid Solutions business will lead turnkey delivery of a new 380 kV gas-insulated substation (GIS), replacing the existing air insulated switchgear, doubling capacity within a significantly smaller footprint while maintaining live operations throughout construction. The project includes 15 bays of compact GIS technology a 4 Main Busbar System, allowing for more flexible, secure, and space-efficient power distribution.

The project also integrates a mechanical switched capacitor with damping network (MSCDN) - a technology that helps regulate voltage and reduce losses, especially as more high-power flows move through the grid.

Dr. Rainer Pflaum, CFO at TransnetBW, said: “At the substation Kühmoos of TransnetBW, we are reinforcing a vital energy hub for both Germany and our neighbouring countries, France and Switzerland. The collaboration with GE Vernova supports our ambition to expand and future-proof our transmission network while continuing to operate reliably and safely. This modernisation is therefore a major milestone in the transformation of our grid, ensuring the electricity supply in south-western Baden-Württemberg.”

“This is a landmark project for the region and a proud moment for GE Vernova,” said Johan Bindele, Vice President and CEO of Grid Systems Integration at GE Vernova. “Modernizing critical grid nodes like Kühmoos is essential for supporting the long-term reliability of Europe’s power system, especially as countries expand their use of renewables and seek greater interconnection across borders. Europe is our largest market for Electrification, and we are deeply committed to supporting its energy transition. We are honored to support TransnetBW in building grid infrastructure that is both future-ready and resilient.”

Supporting Europe’s Grid of the Future

Europe is rapidly scaling up its renewable energy ambitions, with the EU power sector expected to generate around 70% of its electricity from renewables by 2030 and nearly 90% by 2050, according to the latest IRENA outlook. To reach these targets, grid modernization, accelerated infrastructure investment, and better cross-border coordination are critical. Recent insights from the World Economic Forum’s 2025 Energy Transition Index also underscore the urgent need to improve system flexibility and resilience, especially as electricity demand rises. Projects like Kühmoos - designed to enhance transmission capacity, system stability, and cross-border connectivity - are essential enablers of Europe’s energy transition and long-term competitiveness.

GE Vernova’s Grid Solutions business is a global leader in delivering advanced technologies that connect, stabilize, and protect the grid. With this contract, the company reinforces its longstanding presence in Europe and ongoing commitment to building the resilient infrastructure needed to power the energy transition.

--End--

Notes for financial editors:

GE Vernova booked this order in Q2 of 2025

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.

NAIROBI, Kenya (June 11, 2025) – GE Vernova Inc. (NYSE:GEV) today announced that the GE Vernova-Larsen & Toubro (L&T) consortium will build an advanced National System Control Center (NSCC) for Kenya Electricity Transmission Company (KETRACO) to monitor and manage Kenya’s national electricity grid. The work will include constructing a Main Control Centre building in Embakasi, equipped with advanced grid software solutions and the latest substation automation, monitoring, and communication equipment. Additionally, an Emergency Control Centre building in Suswa will be constructed, featuring the same systems and an Enterprise Asset Management (EAM) system for transmission operations. GE Vernova booked the order in the first quarter of 2025.

Kenya's Electricity Goals
Kenya has set ambitious electricity goals aimed at achieving universal access and transitioning to a sustainable energy future. The country aims to ensure that 100% of its population has access to reliable and affordable electricity by 2030. To achieve this, Kenya is investing heavily in expanding its electricity grid and enhancing generation capacity. Additionally, Kenya is focusing on enhancing energy efficiency and developing smart grid technologies to optimize electricity transmission, distribution and consumption.

“A new, advanced NSCC is essential for managing increased electricity demand as Kenya's economy grows. When commissioned, the new NSCC system would play a critical role in supporting our mandate as System Operator(SO). It will ensure reliable, secure, and efficient electricity transmission across the country. It is a game-changer for Kenya’s electricity transmission capabilities, significantly improving our ability to manage the grid, enhance the quality of power, and integrate renewable energy sources,” said Dr. Eng. John Mativo, MBS, Managing Director and CEO at KETRACO.

Consortium Roles and Responsibilities
GE Vernova, through its French entity Grid Solutions SAS, will lead the consortium and provide advanced grid technology from its Electrification Software and Grid Automation portfolio. This technology includes two solutions from its GridOS® orchestration software portfolio—Advanced Energy Management Systems (AEMS) and Wide Area Management Systems (WAMS)—Enterprise Asset Management Systems (EAM), and several solutions from its grid automation portfolio - GridBeats™ - Asset Performance Management System (APM), Condition Monitoring devices, Substation Automation Systems, and Telecommunication Systems. Larsen & Toubro will handle all civil works, including the construction of two fully equipped greenfield control center buildings, equipment installation, and support for system configuration, testing, and commissioning. The project is expected to be completed within three years.

“GE Vernova is uniquely positioned to handle projects of this scale and complexity, requiring both advanced software solutions and grid automation equipment, as well as unique financing solutions. With our comprehensive capabilities in managing such projects end-to-end, we believe KETRACO will significantly benefit from GE Vernova’s expertise, ensuring seamless integration and operational efficiency from project inception to completion,” said Philippe Piron, CEO of GE Vernova’s Electrification Systems businesses. “By providing Kenya with an advanced electricity control center, we’re aiming to enhance the reliability and efficiency of its national grid. This is a pivotal step in paving the way for a more sustainable future that supports the country’s electrification and decarbonization goals.”

Financial and Development Support
The project is made possible through a financing partnership with the French Development Agency (AFD) and the French Treasury, which are providing vital support to KETRACO for the development of a stronger and more sustainable electricity grid in Kenya. This collaboration reflects a shared commitment to advancing Kenya’s energy goals by enabling more reliable and efficient power infrastructure.

“France is committed to supporting sustainable infrastructure projects in Kenya, notably in the Power sector, as part of the broader ongoing collaboration between Kenya and France on energy transition and climate. A modern NSCC will make the Kenyan grid more resilient and reliable, enabling the integration of more variable renewable energy and ultimately providing more reliable and affordable power to Kenya’s businesses and households. The project is fully financed by France with two separate and complementary financing from AFD and the French Treasury, supported by a related grand from the European Union dedicated to Capacity building,” said H.E Arnaud Suquet, the French Ambassador to Kenya.

GE Vernova’s Financial Services business played an integral role in the procurement process, advising the consortium and securing concessional financing from the French Treasury to supplement AFD’s funding. This seamless partnership showcases the importance of combining technical expertise with innovative financing to deliver impactful, future-ready energy solutions.

-ENDS-

Notes to Editors
A National System Control Center (NSCC) is like a central brain of a country's electricity grid. It's responsible for monitoring, controlling, and optimizing the flow of electricity across the entire power system. It can also effectively integrate renewable energy sources like solar, wind, and geothermal into the grid. Real-time monitoring allows for prompt corrective actions, improving grid stability and reducing the risk of power outages and blackouts.

Hammerfest, Norway (May 21, 2025) – GE Vernova Inc. (NYSE: GEV) today announced the forthcoming deployment of two high-voltage 420 kV sulfur hexafluoride - free (SF₆-free) gas-insulated substations (GIS) for Statnett SF, Norway’s Transmission System Operator (TSO), and Equinor ASA. Awarded in the fourth quarter of last year, the contract covers the design, supply, and installation of GIS units at Skaidi and Hyggevatn as part of Statnett’s 420 kV transmission line project—an important milestone supporting Norway’s energy transition and decarbonization effort.

The Skaidi substation involves upgrading the existing facility, while the Hyggevatn substation will be a completely new installation. Together, they aim to modernize Norway’s electrical grid, increase capacity, and electrify Melkøya Island, home to Equinor’s Snøhvit gas field and Hammerfest LNG plant. This initiative aligns with Statnett’s and Equinor’s commitment to achieving a sustainable energy transition while reducing greenhouse gas emissions.

The design of these next-generation substations will be based on GE Vernova’s g³ technology, which replaces SF₆ gas, a potent greenhouse gas commonly used in high-voltage equipment. The g³ technology is part of GE Vernova’s GRiDEA portfolio, a suite of decarbonization solutions that empower grid operators to meet their net-zero objectives. Launched in 2014, g³ gas shows an approximately 99% reduction in greenhouse gas contribution to global warming compared to SF₆, supporting the energy sector’s decarbonization goals.

Driving decarbonization of the grid across Europe

“This project in Norway is the latest of many contracts that we have signed for our new SF₆-free 420 kV T155g GIS since our first one in Scotland in 2020. GE Vernova’s g³ product portfolio has experienced strong commercial growth since the launch of our first SF₆-free product, underscoring the trust placed in g³ by over 60 utilities in Europe and Asia,” said Eric Chaussin, Power Transmission Business Leader at GE Vernova’s Electrification segment. “This marks another important milestone in our journey to electrify and decarbonize the world’s grids. We are proud to support the climate ambitions of Norway.”

GE Vernova’s g³ technology roadmap covers a wide range of voltage levels, from 72.5 kV up to 550 kV. The EU Commission LIFE Programme recognized the potential of this innovative technology by co-funding the development of the SF₆-free 420 kV GIS interrupter under the "LifeGRID" project. The g³ technology is now enabling utilities to take immediate action to reduce the carbon footprint of their high-voltage power grids, supporting their decarbonization goals.

Statnett’s Skaidi and Hyggevatn substations are expected to become operational by 2029. GE Vernova has a  track record of successful GIS Substations in Norway, including in Oslo Smestad, Sogn, and Hamang.

-ENDS-

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy

Delhi, India (May 14, 2025) GE Vernova (NYSE: GEV) today announced plans to invest approximately USD $16 million in India to expand its electrification manufacturing and engineering footprint—specifically, advanced grid technologies that enable stable, reliable, and secure delivery of electricity.

The investment will be made by GE Vernova T&D India Limited (NSE: GEV T&D), the listed entity of GE Vernova’s Electrification business in India and includes the development of a new manufacturing line at its existing facility in Chennai (Pallavaram) and a new facility in Noida. These expansions are expected to enhance the ability of GE Vernova T&D India Limited to manufacture and test key next-generation equipment used in modern transmission systems, supporting both India’s energy transition and export demand from other fast-growing economies.

These new expansions will focus on High Voltage Direct Current (HVDC) and Flexible Alternating Current Transmission Systems (FACTS)—technologies that help stabilize power grids, reduce transmission losses, and make it easier to connect renewable energy like solar and wind. These systems are critical for getting renewable energy from where it’s generated—often in remote areas—to where it’s needed most: cities, industries, and communities.

“India continues to be a critical part of our global strategy—both for our customers and as a manufacturing hub,” said Johan Bindele, VP of Grid Systems Integration at GE Vernova. “GE Vernova’s Electrification equipment backlog has more than tripled over the past year—driven by strong demand for transformers, switchgear, and grid technologies including HVDC and FACTS. These new expansions are aimed at enhancing our capabilities in the region, helping reduce supply chain dependencies, and allowing us to deliver faster, smarter solutions to customers in India and around the world.”

“With energy demand rising and more renewables being added to the grid, the need for strong, smart, and flexible infrastructure has never been greater,” said Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India Limited. “Through this investment, we are strengthening our ability to deliver technologies that help utilities move more power, with fewer losses, over longer distances—and do it more sustainably.”

Investment Details:

• The new manufacturing line at the existing Chennai facility will produce Line Commutated Converter (LCC) HVDC valves and Voltage Source Converter (VSC) Static Synchronous Compensator (STATCOM) valves. 
  These valves are key components of advanced HVDC and FACTS systems. LCC is typically used for long-distance, high-capacity power transmission, while VSC is more suitable for connecting renewable energy sources and providing grid stability.
• In Noida, GE Vernova T&D India Limited will set up a new engineering and test lab to support design and system validation for these solutions, as well as supply control systems ensuring quality and performance in real-world grid conditions.

The Noida lab is expected to be operational by the end of 2025, and the new manufacturing line in Chennai facility by early-2027.

Included within GE Vernova’s previously announced ~$4 billion cumulative capex plan through 2028, this investment is part of GE Vernova’s broader “Asia for Asia” strategy—focusing on building localized manufacturing capacity to better serve regional needs, while contributing to global supply chain resilience. It also supports India’s ambition to become a renewable energy leader by expanding access to “Make in India” technologies that power everything from homes to factories with more efficiency and less environmental impact.

GE Vernova T&D India currently operates five manufacturing facilities across the country and has served the Indian grid for over 100 years.

-End-

About GE Vernova T&D India
GE Vernova T&D India Ltd is the listed entity of GE Vernova’s Electrification segment in India. With over 100 years of presence in the country, GE Vernova T&D India is a leading player in the power transmission and distribution business. The company provides a versatile and robust range of solutions for connecting and evacuating power from generations sources onto the grid, and a wide range of products including power transformers, circuit breakers, gas-insulated switchgear, instrument transformers, substation automation, digital software solutions, turnkey substation solutions, FACTS, HVDC, and maintenance support. With five manufacturing sites, GE Vernova T&D India is future ready to meet the industry’s growing demand for grid equipment and services. GE Vernova is committed to invent, deploy, and service technology to help decarbonize and electrify the Indian grid, and catalyse access to more secure, sustainable, reliable, and affordable electricity, to help drive global economic development.

https://www.gevernova.com/regions/in/ge-td-india-limited

Delhi, India (May 01, 2025) – GE Vernova Inc. (NYSE: GEV) today announced it has been chosen by Power Grid Corporation of India Limited (POWERGRID) to supply over 70 extra high-voltage transformers and shunt reactors for key transmission projects across India. The 765 kV class units will support transmission infrastructure for renewable power evacuation projects under India’s Tariff-Based Competitive Bidding (TBCB) framework. The order has been booked through GE Vernova T&D India Limited, listed entity of GE Vernova’s Electrification business in India.

GE Vernova’s scope includes the supply, erection, testing, and commissioning of the equipment. Manufacturing will be carried out at GE Vernova’s power transformer facility in Vadodara, India. Deliveries are expected to begin in 2026 and continue through the end of 2027.

“This is one of the largest order intakes for GE Vernova’s Electrification segment in India and a significant milestone for our Vadodara facility,” said Ruchir Mayank, Commercial Leader of GE Vernova’s Power Transmission business in India. “We are proud to contribute to India’s grid modernization and renewable energy expansion, and we thank POWERGRID for their continued trust in our technology and execution capabilities.”

“These orders reflect the critical role GE Vernova is playing in advancing India’s transmission infrastructure to support global renewable energy goals,” said Sandeep Zanzaria, Managing Director and CEO of GE Vernova T&D India Limited. “As a listed entity in India, we are proud to contribute to national priorities by delivering extra high-voltage technologies that enable a more resilient power systems.”

POWERGRID is India’s largest electric power transmission utility and plays a central role in renewable energy integration. These orders - placed under a bulk procurement strategy - are expected to support high-capacity renewable power corridors in the states of Rajasthan, Gujarat, Karnataka, Tamil Nadu, and Andhra Pradesh.

The project reflects GE Vernova’s ongoing commitment to accelerating the energy transition in emerging markets. By enabling large-scale renewable integration, the initiative also helps enhance energy security and reduce dependency on fossil fuels.

GE Vernova’s Vadodara site has been designing, manufacturing and testing 765 kV class transformers and shunt reactors since 2009. To date, the Vadodara factory has manufactured and supplied more than 700 units across the country to ensure the reliable performance of India’s power network.

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Notes for financial editors:

The order was booked in Q1 of 2025

Forward Looking Statements

This document contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. These forward-looking statements address GE Vernova's expected future business and financial performance, and the expected performance of its products, the impact of its services and the results they may generate or produce, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “estimate,” “forecast,” “target,” “preliminary,” or “range.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about planned and potential transactions, investments or projects and their expected results and the impacts of macroeconomic and market conditions and volatility on business operations, financial results and financial position and on the global supply chain and world economy.

America’s demand for electric power is surging and, with it, the need to move electrons around the country. Nowhere is that trend more tangible than at GE Vernova’s Grid Solutions factory in Charleroi, Pennsylvania, a sprawling 332,000-square-foot facility that has been making high-voltage instrument transformers and high-voltage circuit breakers, key components of the electric grid for more than three decades.

American author and activist Helen Keller once observed that “optimism is the faith that leads to achievement.” Could optimism itself, therefore, be harnessed as a strategy? GE Vernova thinks so. At just one year old, the standalone energy technology company is remaking itself into a key player in the global energy transition.