The world’s demand for energy shows no sign of abating.

Fourth Quarter 2025 Highlights:

CAMBRIDGE, Mass., (January 28, 2026) – GE Vernova Inc. (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today reported financial results for the fourth quarter and full year ending December 31, 2025.

“We delivered strong financial performance in 2025 with continued momentum in Power and Electrification while focusing on what we can control in Wind. We increased our backlog to $150 billion, with better equipment margins, and are entering 2026 with significant momentum,” said GE Vernova CEO Scott Strazik. “Our platform of advanced solutions is well-positioned to serve the growing, long-cycle electric power market, and there is substantial opportunity to deliver even better performance ahead. I’m grateful for our team’s dedication and confident in our ability to meet our full potential today and for the long-term.”

"We delivered a strong finish to 2025 as we executed our financial strategy, with robust quarterly orders, revenue growth, margin expansion, and significant free cash flow generation. We expanded our 2025 backlog across equipment and services, with equipment margin in backlog expanding six points year-over-year, reflecting favorable price and our continued focus on disciplined underwriting,” said GE Vernova CFO Ken Parks. “Given our strong free cash flow generation, we ended the quarter with a healthy cash balance of nearly $9 billion, which continues to give us confidence to invest in our core businesses and return cash to shareholders through our share repurchase actions and quarterly dividend payment, while maintaining a strong investment grade balance sheet. Today, we’re also increasing our multi-year financial outlook to include Prolec GE.”

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^[1] Defined as remaining performance obligation (RPO)

*Non-GAAP Financial Measure

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws that are subject to risks and uncertainties. These statements may include words such as “believe”, “expect”, “guidance”, “outlook”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may,” and negatives or derivatives of these or similar expressions. These forward-looking statements may include, among others, statements about our future performance, anticipated growth, and expectations in our business; the energy transition; the demand for our products and services; our technologies and ability to innovate, anticipate, and address customer demands; our ability to increase production capacity, efficiencies, and quality; our underwriting and risk management; the estimated impact of tariffs; our product quality and costs; our cost management efforts; tax incentives; customer orders and commitments; project execution and timelines; our actual and planned investments, including in research and development, capital expenditures, joint ventures and other collaborations with third parties; our ability to meet our sustainability goals and targets; levels of global infrastructure spending; government policies; our expected cash generation and management; our lean operating model; our capital allocation framework, including organic and inorganic investments, share repurchases and dividends; our restructuring programs; disputes, litigation, arbitration, and governmental proceedings involving us; the sufficiency and expected uses of our cash, liquidity, and financing arrangements; and our credit ratings.

Forward-looking statements reflect our current expectations, are based on judgments and assumptions, are inherently uncertain and are subject to risks, uncertainties, and other factors, which could cause our actual results, performance, or achievements to differ materially from current expectations. Some of the risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by forward-looking statements include the following:

• Quality issues or safety failures among our products, solutions, or services;
• Significant supply chain or logistics disruptions, including cost or availability of materials or components;
• Disruptions or capacity constraints at our manufacturing or operating facilities;
• Our ability to manage our costs and achieve anticipated cost savings;
• Our ability to execute and estimate long-term service obligations;
• Our ability to successfully compete;
• Our ability to innovate and successfully commercialize new technologies and manage our product cycles;
• Achieving expected benefits from strategic transactions, joint ventures, and other third-party collaborations;
• Issues with grid connectivity or our customers’ ability to sell generated electricity;
• Our ability to manage customer and counterparty relationships and contracts;
• Our ability to maintain our investment grade credit ratings;
• Our access to capital or credit markets or other financing on acceptable terms;
• Decarbonization and energy-transition dynamics;
• Changes in energy, environmental, and tax laws and policies;
• Challenges of operating globally, including complex legal, regulatory, and compliance risks;
• Natural disasters, physical effects of climate change, pandemics, and other emergencies;
• Geopolitical events;
• Our ability to meet sustainability expectations, standards, and goals;
• International trade policies;
• Our ability to obtain, maintain, and comply with approvals, licenses, and permits;
• Our ability to comply with laws and regulations and related compliance costs;
• Impacts from claims, litigation, regulatory proceedings, and enforcement actions;
• Our ability to attract and retain highly qualified personnel and impacts from any labor disputes or actions;
• Our ability to secure, deploy, and protect our intellectual property rights and defend against third-party claims;
• Foreign currency impacts;
• Our ability to realize the benefits from our spin-off from, and our obligations to, General Electric Company;
• Our capital allocation plans, including the timing and amount of any dividends, share repurchases, acquisitions, organic investments, and other priorities;
• The price, availability, volatility, and trading volumes of our common stock;
• The amount and timing of our cash flows and earnings;
• The impact of cybersecurity or data security incidents; and
• Other changes in macroeconomic and market conditions and volatility.

These or other uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements, and these and other factors are more fully discussed in our Annual Report on Form 10-K for the year ended December 31, 2024, and in the Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections included therein, as may be updated from time to time in our Securities and Exchange Commission filings and as posted on our website at www.gevernova.com/investors/fls. We do not undertake any obligation to update or revise our forward-looking statements except as may be required by law or regulation. This press release also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially.

Additional Information
GE Vernova’s website at www.gevernova.com/investors contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time, as information is updated, and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the Company posts information from time to time.

Additional Financial Information
Additional financial information can be found on the Company’s website at: www.gevernova.com/investors under Reports and Filings.

Conference Call and Webcast Information
GE Vernova will discuss its results during its investor conference call today starting at 7:30 AM Eastern Time. The conference call will be broadcast live via webcast, and the webcast and accompanying slide presentation containing financial information can be accessed by visiting the investor section of the website www.gevernova.com/investors. An archived version of the webcast will be available on the website after the call.

Cambridge, Mass. (January 26, 2026) –The GE Vernova Foundation has awarded USD 200,000 in disaster relief to Save the Children to support emergency response and recovery efforts in the Sumatra region of Indonesia and Central Vietnam following months of severe storms, flooding, and landslides. Each region will receive USD 100,000 in funding to support local relief and recovery efforts.

The Foundation’s funding will support Save the Children’s life-saving humanitarian response across both regions, including emergency food assistance, access to clean water and hygiene supplies, temporary shelter, health services, and child-focused education recovery programs. The funding across the two countries is expected to support efforts to reach over 145,000 people, helping meet urgent humanitarian needs while supporting early recovery and stabilization efforts as affected communities work to rebuild.

“Natural disasters such as these affect families for years to come, and we are proud to work with Save the Children to help provide support needed to respond and rebuild in Vietnam and Indonesia,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “Our hearts go out to all those affected, and the GE Vernova Foundation will continue to support communities where our employees live and work.”

Ramesh Singaram, Board Director for the foundation and President and CEO for Asia, Gas Power, GE Vernova said: “Our commitment to the region goes beyond powering communities; we are dedicated to helping the people of Southeast Asia, especially in times of crisis. Through our disaster relief efforts in Indonesia and Vietnam, we aim to provide the immediate support necessary to restore stability and support the path forward to return to strength.”

“Save the Children stands with children and families affected by devastating floods in Vietnam and Indonesia,” said Pina Jabbari, Head of Corporate Partnerships, Save the Children US. “We’re grateful for partners like the GE Vernova Foundation, whose generous support enables us to deliver life-saving assistance, help children return to learning, and protect the most vulnerable when it matters most. Together, we’re working with communities as they recover and build resilience against future shocks.”

Beginning in November and continuing into December, the Sumatra region in Indonesia faced historic flooding and landslides caused by extreme rainfall, inundating entire communities and isolating remote areas as transportation networks were damaged. Thousands of families were displaced, lives and livelihoods were lost, and children faced heightened risks related to displacement, health, and protection as floodwaters lingered and recovery efforts began.

GE Vernova employees who donate to relief organizations such as Save the Children or other participating relief organizations can register for a match with the GE Vernova Foundation Matching Gifts program, which supports employees’ personal philanthropy and charitable giving by providing a match.

GE Vernova has been present in Indonesia for more than 70 years, with more than 500 employees working across multiple locations nationwide. Today, the company supports Indonesia’s energy transition by providing highly efficient gas power and grid modernization technologies, while collaborating with national partners to enable greater integration of renewable energy and lower-carbon technologies in line with national energy goals.

About GE Vernova Foundation
The GE Vernova Foundation, an independent charitable organization funded by GE Vernova, puts the company’s purpose – The Energy to Change the World – into practice across the global communities where employees live and work. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. Its philanthropic strategy and programs are focused on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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 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. Learn more: GE Vernova and LinkedIn.

About Save the Children
Save the Children believes every child deserves a future. Since our founding more than 100 years ago, we've been advocating for the rights of children worldwide. In the United States and around the world, we give children a healthy start in life, the opportunity to learn and protection from harm. We do whatever it takes for children – every day and in times of crisis – transforming the future we share. Our results, financial statements and charity ratings reaffirm that Save the Children is a charity you can trust. Follow us on Facebook, Instagram, LinkedIn, X and YouTube.

Cambridge, Mass. (January 26, 2026) – The GE Vernova Foundation has awarded USD 200,000 in disaster relief to Save the Children to support emergency response and recovery efforts in the Sumatra region of Indonesia and Central Vietnam following months of severe storms, flooding, and landslides. Each region will receive USD 100,000 in funding to support local relief and recovery efforts.

The Foundation’s funding will support Save the Children’s life-saving humanitarian response across both regions, including emergency food assistance, access to clean water and hygiene supplies, temporary shelter, health services, and child-focused education recovery programs. The funding across the two countries is expected to support efforts to reach over 145,000 people, helping meet urgent humanitarian needs while supporting early recovery and stabilization efforts as affected communities work to rebuild.

Ramesh Singaram, Board Director for the foundation and President and CEO for Asia, Gas Power, GE Vernova said: "Our commitment to the region goes beyond powering communities; we are dedicated to helping the people of Southeast Asia, especially in times of crisis. Through our disaster relief efforts in Vietnam and Indonesia, we aim to provide the immediate support necessary to restore stability and support the path forward to return to strength.”

“Natural disasters such as these affect families for years to come, and we are proud to work with Save the Children to help provide support needed to respond and rebuild in Vietnam and Indonesia,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “Our hearts go out to all those affected, and the GE Vernova Foundation will continue to support communities where our employees live and work.”

Beginning in November and continuing into December, Central Vietnam faced historic flooding and landslides caused by extreme rainfall, inundating entire communities and isolating remote areas as transportation networks were damaged. Thousands of families were displaced, lives and livelihoods were lost, and children faced heightened risks related to displacement, health, and protection as floodwaters lingered and recovery efforts began.

“Save the Children stands with children and families affected by devastating floods in Vietnam and Indonesia,” said Pina Jabbari, Head of Corporate Partnerships, Save the Children US. “We’re grateful for partners like the GE Vernova Foundation, whose generous support enables us to deliver life-saving assistance, help children return to learning, and protect the most vulnerable when it matters most. Together, we’re working with communities as they recover and build resilience against future shocks.”

In addition to the Foundation’s donation, GE Vernova employees in Vietnam joined hands to support the charitable activity “Back to School campaign” raising funds to support the distribution of nearly 1,300 education packs including backpacks and other school supplies to primary school students in three schools heavily impacted by the floods as well as warm clothing for over 100 children in the highland area of Tra Tan Commune, Da Nang. Globally, GE Vernova employees who donate to Save the Children or other eligible relief organizations may register for the GE Vernova Foundation Matching Gifts program, through which the Foundation matches employee donations to support personal philanthropy and charitable giving.

Alongside its emergency humanitarian assistance, the GE Vernova Foundation has been supporting a workforce development program for the energy sector, with total funding of USD 750,000, aimed at enhancing skills for students and technicians to meet workforce needs in Vietnam’s renewable energy sector. 

About GE Vernova Foundation

The GE Vernova Foundation, an independent charitable organization funded by GE Vernova, puts the company’s purpose – The Energy to Change the World – into practice across the global communities where employees live and work. Following the spinoff of GE Vernova as an independent company in April 2024 and building on the 100+ year legacy of the GE Foundation, the newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. Its philanthropic strategy and programs are focused on growing stronger and more resilient communities and building the workforce needed to drive the energy transition forward. Learn more at www.gevernova.com/about/philanthropy.

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 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. Learn more: GE Vernova and LinkedIn.

About Save the Children

Save the Children believes every child deserves a future. Since our founding more than 100 years ago, we've been advocating for the rights of children worldwide. In the United States and around the world, we give children a healthy start in life, the opportunity to learn and protection from harm. We do whatever it takes for children – every day and in times of crisis – transforming the future we share. Our results, financial statements and charity ratings reaffirm that Save the Children is a charity you can trust. Follow us on Facebook, Instagram, LinkedIn, X and YouTube.

The world’s energy challenges unfold on long timelines, stretching across generations. Addressing them requires sustained innovation, driven by people with curiosity, creativity, and collaborative instincts — many of whom are still children today.

In today’s fast-paced world of innovation and transformation, staying ahead means more than just delivering high-quality, world-class technology and energy systems. It means investing in the people behind them.

When a company’s people grow, the business grows too. That’s why learning, development, and personal growth are important to GE Vernova. Its technical academies take employees on a learning journey through bespoke training programs that feature technical experts, classroom training, and hands-on opportunities.

CAMBRIDGE, Mass. (January 5, 2026) – GE Vernova Inc. (NYSE: GEV) is scheduled to release its fourth quarter and full year 2025 financial results on Wednesday, January 28, 2026, before market open. GE Vernova CEO Scott Strazik and CFO Ken Parks will discuss the company’s financial results in a webcast at 7:30 AM ET, which can be accessed at www.gevernova.com/investors/events.

The earnings press release and supplementary financial information, including reconciliations of non-GAAP financial measures, will also be posted at the same link on the GE Vernova Investor Relations website. A replay of the call will be made available as a direct download on GE Vernova’s website at www.gevernova.com/investors/events.

Additional Information 

GE Vernova’s website at www.gevernova.com/investors6 contains a significant amount of information about GE Vernova, including financial and other information for investors. GE Vernova encourages investors to visit this website from time to time, as information is updated, and new information is posted. Investors are also encouraged to visit GE Vernova’s LinkedIn and other social media accounts, which are platforms on which the company posts information from time to time.

DONG NAI PROVINCE, Vietnam, January 5, 2026 – GE Vernova Inc (NYSE: GEV) today announced the start of commercial operation of PetroVietnam Power Corporation (PV Power)’s Nhon Trach 3&4 1.6-gigawatt (GW) Power Plant in Ong Keo Industrial Park in the Dai Phuoc commune, approximately 70 kilometers southeast of Ho Chi Minh City, Vietnam.

Nhon Trach 3&4 power plant, built by the engineering, procurement, and construction (EPC) companies Samsung C&T and Lilama, marks the first HA-powered plant in Vietnam, as well as the first to be powered by liquefied natural gas (LNG).

According to the Adjusted PDP8, an amendment to Vietnam's National Power Development Plan VIII, LNG remains central to the flexible generation mix, with a capacity of more than 22 gigawatts (GW) projected for 2030, accounting for 9.5 - 12.3 percent of the national system.

Nhon Trach 3&4 Power Plant is expected to play a crucial role in meeting the growing electricity demand in the southern region of Vietnam and contribute to the country's sustainable development goals.

This project marks the expansion of gas-fired power generation and accelerates the transition from coal to gas. GE Vernova’s H-class leading technology fueled by highly efficient natural gas generates a lower environmental impact, with approximately 60% less carbon emissions compared to thermal plants of same electrical output powered by coal. In addition, this project can expedite the integration of renewable energy sources by improving the reliability and stability of the energy grid.

Vietnam’s energy transition requires solutions that balance capacity, efficiency, and sustainability, which is why we chose GE Vernova’s 9HA.02 gas turbines for Nhon Trach 3&4,” said a representative from PV Power. “GE Vernova’s advanced 9HA.02 gas turbine is central to our commitment to modern energy standards. It enables the plant to achieve greater than 63% combined cycle efficiency, ranking it among the world’s most efficient facilities. Additionally, the 9HA.02 meets the strictest emission regulations, offers versatile fuel-switching capabilities—operating on LNG now, supporting up to 50% hydrogen co-firing, and paving the way for 100% hydrogen use in the future—ensuring alignment with Vietnam’s net-zero goals for decades.”

For this project, GE Vernova provided two blocks of more than 800 megawatts (MW) each including: a 9HA.02 gas turbine, the company’s most efficient 50 Hz gas turbine, an STF-D650 steam turbine, a W88 generator, a Once Through Heat Recovery Steam Generator (OT HRSG) a key enabler in advanced water-steam cycles delivering higher combined cycle efficiency. In addition, GE Vernova’s integrated Mark* VIe Distributed Control System (DCS) will help PV Power improve asset visibility, reliability, and availability while reducing operation and maintenance costs.

“Renewable energy is expected to grow significantly in Vietnam while at the same time, lower-carbon and highly efficient gas power generation will play a crucial role in supporting this growth while ensuring grid stability and reliability,” said Ramesh Singaram, President & CEO of GE Vernova's Gas Power business in Asia Pacific region. “This first of its kind project is expected to bring electricity for large industrial areas in the southern region including Ho Chi Minh City and Dong Nai province while opening up a new chapter for gas power generation in Vietnam. We are proud to execute the first HA project in the country, in alignment with its national energy goals for a more sustainable national economic growth.”

GE Vernova’s equipment provides up to 30% of the Vietnam’s electricity needs, with over 1,100 employees across 13 locations from various GE Vernova businesses throughout the country. GE Vernova’s global customers are served by a global network of repair and manufacturing capabilities which include GE Vernova’s Phu My repair facility and Dung Quat HRSG manufacturing plant in Vietnam, where the Pressure Part Modules for this plant were manufactured within country.

DELHI, INDIA – (23 Dec 2025) – GE Vernova Inc. (NYSE: GEV) announced that its Electrification Systems business has been awarded a contract by Power Grid Corporation of India Limited (POWERGRID), India’s national transmission utility, to refurbish the Chandrapur back-to-back High Voltage Direct Current (HVDC) link—a key 1,000 MW interconnection between the country’s western and southern grid systems. This marks GE Vernova’s first HVDC refurbishment contract in India.

Modernizing a vital interconnection between West and South India

The 1,000 MW back-to-back HVDC link plays a pivotal role in balancing regional power flows between India’s western and southern regions. Originally commissioned in the late 1990s, the link enables bi-directional energy transfer between fossil-rich and hydro-rich zones—improving dispatch efficiency and conserving regional energy reserves.

Under the new contract, GE Vernova will upgrade both 500 MW converter stations at each end - Chandrapur (Western region) to Ramagundam (Southern region) - modernizing the HVDC control and protection systems and replacing the legacy converter valves with advanced technology manufactured at GE Vernova’s facilities in India.

“This landmark contract reinforces our long-standing relationship with POWERGRID and our commitment to India’s grid modernization,” said Johan Bindele, Leader of GE Vernova’s Grid Systems Integration business and teams. “Refurbishing this HVDC link with next-generation controls and digital capabilities will not only enhance its reliability but also strengthen India’s efforts toward a secure and sustainable power system.”

Extending grid life, improving stability

Refurbishment of HVDC systems involves upgrading essential components such as converter valves, automation systems, and grid protection infrastructure, all while ensuring minimal operational disruption. The modernization is expected to extend the asset’s lifespan, enhance energy efficiency, and improve grid flexibility to handle growing renewable penetration.

Investments in refurbishment offer utilities a cost-effective way to strengthen infrastructure resilience—preserving prior capital investments while aligning with today’s energy transition needs.

Supporting India’s energy goals

India’s ambitious goal to reach 500 GW of non-fossil capacity by 2030 relies on robust, flexible transmission infrastructure. HVDC systems are essential to move large volumes of renewable power efficiently across long distances.

Refurbishing this strategic inter-regional corridor will help unlock that potential—enabling cleaner energy flows, improving system reliability, and contributing to India's long-term energy security.

-ENDS-

Notes to Editors:

GE Vernova booked the order in December 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.