ADIPEC, Abu Dhabi, UAE - (November 3, 2025): In conjunction with ADIPEC 2025, GE Vernova Inc. (NYSE: GEV) announced that Jafurah Cogeneration Independent Steam and Power Plant (ISPP) achieved the start of commercial operations. The plant is located approximately 125 kilometers southeast of Dammam, Saudi Arabia. GE Vernova provided a holistic solution including the core power plant equipment, its 7HA.01 gas turbine, and a service agreement for 20 years, including maintenance and supply of parts aiming to manage all aspects of the engine’s lifecycle.

The facility is expected to be among the most efficient power plants in Saudi Arabia.

The cogeneration process maximizes energy output by capturing and reusing excess heat or steam. The plant is expected to deliver up to 314 tons/hour of steam, as well as up to 320 megawatts (MW) of electricity to support Jafurah gas field operations. By 2030, the Jafurah gas field is expected to produce up to 630,000 barrels of natural gas liquids and condensates, as well as over 420 million standard cubic feet of ethane per day.

“Significantly increasing gas production capacity over the next decade will positively contribute to the Kingdom’s energy mix and support self-sufficiency in gas supply as demand for power continues to grow in residential and industrial sectors,” said a representative of Doosan Enerbility.  “The development of the Jafurah gas field was a very ambitious project and as the engineering, procurement, and construction (EPC) company we’re proud to have supported it.”

This project, featuring GE Vernova’s first H-Class gas turbine completed in Saudi Arabia, has contributed to the local economy by creating direct and indirect jobs and expanding domestic manufacturing capabilities.

“We are pleased to have successfully met our commitments, ensuring the timely launch of operations despite the period of intense demand,” said Joseph Anis, President & CEO for GE Vernova’s Gas Power business in Europe, Middle East & Africa. “Aligned with Saudi Vision 2030, we are proud the turbine was completed and delivered from GESAT, advancing local industrialization and strengthening the Kingdom’s power sector.”

Since its establishment in 2017, GESAT has played an important role in meeting the Kingdom's demand for gas turbines, specifically through the localized completion of high-performance F-class and H-class gas turbines, and the manufacturing of post cast components and accessory modules.

GESAT was formerly a joint venture between Dussur and GE Vernova. In September 2024, GE Vernova acquired Dussur’s shares to continue enabling economic diversification, localization, high value exports, and talent development efforts in the country to support the Kingdom’s goals under Saudi Vision 2030. The facility is a part of the GE Manufacturing & Technology Center (GEMTEC) campus.

GE Vernova has contributed to the development of the Kingdom’s energy infrastructure for approximately 90 years. Today, the company’s investments in the country include the Khobar Integration Facility (KIF) for grid solutions and the GEMTEC campus, which houses a Service and Repairs Center for gas turbines, the MENA Decarbonization Center of Excellence, and a Monitoring & Diagnostics Center for the remote monitoring of power generation assets, in addition to GESAT.

GE Vernova is a Gold Sponsor at ADIPEC 2025, taking place November 3–6 at ADNEC in Abu Dhabi, UAE. At stand 7135 in Hall 7, the company is showcasing technologies that help maintain reliable, affordable, and secure electricity systems; increase access to power; reduce carbon emissions; and enable communities to thrive. Solutions highlighted include flexible lower‑carbon natural gas fired turbines and their use of hydrogen fuel or integration into carbon capture systems, direct air capture (DAC) technology, synchronous condensers, battery energy storage systems (BESS), power conversion solutions, and SF₆‑free switchgears. The stand will also feature grid applications with GridBeats™ – AI/ML‑enabled digitalization, grid automation, and other advanced solutions, like GE Vernova’s GridOS® orchestration software. 

When Kassy Hart was a teenager, she thought the life of an engineer was a bit like a newspaper cartoon she used to read. “You’re just sitting at a desk not talking to anyone, and this boss will yell at you for no reason,” says Hart, who is now a data center and hydrogen commercialization manager at GE Vernova. “That was before I got to design something.”

Growing up near the shores of Lake Michigan in the 1990s, Lisa Berry didn’t harbor engineering ambitions. But everything changed when she joined her high school’s robotics group. “My brother had been a member, and it looked pretty cool,” remembers Berry, who is now GE Vernova’s decarbonization and data center technology director for the Americas. One of the coolest things was the chance to learn from one of the program’s founders, Natalie Lowell, a local manufacturing engineer who mentored the budding roboticists.

SINGAPORE (October 27, 2025) – GE Vernova Inc. (NYSE: GEV) and YTLPowerSeraya Pte Limited (“YTLPS”) announced today the collaboration of the two companies on a feasibility study (“Study”) to analyze the lowering of carbon emissions of YTLPS’ H-Class Combined Cycle Gas Turbine (CCGT) plant on Jurong Island, Singapore.

Following the launch of a Power Sector Carbon Capture and Storage Grant Call by Singapore’s Energy Market Authority (“EMA”), in October 2024, which invited the power industry to explore potential carbon capture solutions as part of Singapore’s energy transition towards a low-carbon future, the EMA has selected five projects on 14 July 2025.  Among these, YTLPS’ Post-Combustion Carbon Capture Study proposal was successfully selected to receive co-funding.

The Study is focused on retrofitting YTLPS’ H-Class CCGT with technology capable of capturing at least 90 percent of the plant’s carbon dioxide (CO₂) emissions.  With its proven expertise, GE Vernova will focus the Study on the seamless integration of the H-Class CCGT plant with post-combustion carbon capture technology, supported by three key technical solutions:

• Exhaust Gas Recirculation (“EGR”);
• Steam integration; and
• Controls integration

In comparison to traditional bolt-on post-combustion carbon capture solutions, the proposed GE Vernova’s advanced system integration with EGR technology allows a gas power plant with post-combustion carbon capture solutions to operate more efficiently and cost-effectively which reduces overall plant size, overall CAPEX and OPEX whilst also boosting overall integrated plant performance.

“We are enthusiastic that EMA awarded our 600 MW H-Class Combined Cycle Power Plant to study the integration of post-combustion carbon capture.  Our participation in the GE Vernova-led study underscores our dedication to accelerating advanced solutions to potentially retrofit our power plant to achieve net zero emission, a vital step towards producing more sustainable energy for Singapore and our communities,” said John Ng, CEO of YTLPS.

“GE Vernova’s  first-of-its-kind carbon capture assessment in Singapore proposes significant enhancements aimed at improving the proposed carbon capture process and reducing its impact on the power plants’ output, performance, and costs,” said Ramesh Singaram, President & CEO of GE Vernova's Gas Power business in Asia Pacific region. “GE Vernova will lead the full-scale integration of the study with the ultimate goal of lowering the net carbon emissions of the power plant.  We remain committed to supporting the advancement of the region’s energy goals, working alongside carbon capture players to support YTL PowerSeraya’s decarbonization efforts.”

The announcement for the post-combustion carbon capture study was made at the sidelines of Singapore International Energy Week.  This recent milestone follows other significant announcements for GE Vernova, including the selection for the innovative Net Zero Teesside (NZT) Power project, expected to be the world’s first gas-fired plant integrated with a carbon capture plant at commercial scale, and the order of GE Vernova’s combined cycle equipment  to power YTLPS CCGT on Jurong Island, Singapore. The plant is expected to be powered by a 9HA.01 gas turbine, an STF-A650 steam turbine, a W88 generator, and a triple pressure with reheat Heat Recovery Steam Generator (HRSG).

###

Notes to editors

© 2025 GE Vernova and/or its affiliates. All rights reserved.
GE and the GE Monogram are trademarks of General Electric Company used under trademark license.

“Decarbonization”, as used in this article, is intended to mean the reduction of carbon emissions on a kilogram per megawatt hour basis.

ATLANTA, GA – (October 23, 2025) – GE Vernova Inc. (NYSE: GEV) today announced that it secured an order from the Australian independent gas producer and energy company QPM Energy Limited (“QPM”) for two of its LM6000* aeroderivative gas packages. GE Vernova’s fuel flexible aeroderivative gas turbine packages are aimed to enable the plant to use QPM’s existing gas reserves or coal mine waste gas (with at least 50% methane) that it collects.

With commissioning scheduled for mid-2027, GE Vernova turbine packages are projected to deliver up to 112 MW of electricity at QPM’s Isaac Power Station, enhancing the expansion of QPM’s existing Moranbah gas production and infrastructure assets – the QPM’s Isaac Energy Hub (IEH).

“The development of the Isaac Power Station meets the State Government’s call for more gas-fired generation as flexible, gas-fired generation is clearly essential for supporting grid stability during the energy transition,” said QPM Chief Executive Officer David Wrench.  “GE Vernova’s flexible units are anticipated to supply electricity during periods of peak demand. This daily peak generally arises after sunset, as solar generation decreases and households increase their energy usage for various activities.”                                                       

Aeroderivative gas turbine solutions, like GE Vernova’s LM6000, are built for high cycling capability, which allows power plant operators to get up and running—and on the grid—quickly. With capability to reach full power within around five minutes from start-up, LM6000 aeroderivative gas turbines have a nominal ramp rate of around 30 MW/min, providing a fast primary frequency control response for better grid support.                                                                     

“We are excited to contribute to the growth of QPM’s energy business, while supporting grid stability and reliability in Queensland as the state accelerates its transition to a more sustainable renewable powered future,” stated Ramesh Singaram, President & CEO of GE Vernova's Gas Power Business for the Asia Pacific region.

The LM6000 aeroderivative gas turbines are well-suited for both peaking and base load generation, as well as grid firming applications, offering the flexibility to start and stop multiple times per day if needed.  With over 40 million operating hours and more than 1,300 units shipped, the LM6000 aeroderivative gas turbine is a leader in the 40 to 60 MW space.

Australia has been part of GE Vernova’s heritage for more than 125 years. The Pyrmont Bridge was one of GE Vernova’s first projects in Australia, and one of the first electric-powered bridges in the world at the time, marking the start of the company’s technology and innovation in the region. Today, GE Vernova plays a central role in supporting the nation’s energy transition, with 80% of the national grid operating on GE Vernova’s electrification software, 40% of Australia’s major utilities using GE Vernova technologies, 50% of Australia’s power fleet is serviced by GE Vernova. GE Vernova’s portfolio covers all areas of the energy sector, with technologies across wind, gas, grid and digital solutions, helping Australian providers decarbonize while maintaining energy reliability and cost efficiency.

Notes to editors

Financial Editors:  Please note this order was booked in the third quarter of 2025.

Neuquen ARGENTINA (October 23, 2025) - GE Vernova Inc. (NYSE: GEV) today celebrated the opening of a new Repair Service Center in the Parque industrial Centenario, in the Neuquén Province, Argentina. The new facility marks GE Vernova’s first repair center for GE Vernova’s Aeroderivative business in Latin America and is expected to boost repair capabilities for GE Vernova’s aero derivatives gas turbines fleet based in Argentina, Brazil, Chile and Uruguay.

Owners of aero derivative gas turbines in these countries can benefit from significant improvements to lead time and delivery of repaired components in support of their outage needs. Aero derivative gas turbines will no longer need to be shipped to a repair center outside of Latin America, which may result in substantial reduction - which can be up to a year - of component delivery times.

“This project is aligned to GE Vernova plans to expand its gas turbine repair capabilities globally,” according to Luis Leal, General Manager Aero Services Americas, Gas Power GE Vernova. “By applying lean practices and advanced repair technologies, our Repair Service Center in Centenario can set a new benchmark for repair excellence. The new facility will help us to better serve our customers and ensure that our legacy equipment remains competitive, while effectively addressing the support and maintenance needs throughout southern Latin America.”

This facility will initially offer LMS100* maintenance services and is planned to expand its capabilities to include LM2500* and LM6000* gas turbines solutions by the end of 2026. By providing maintenance locally, GE Vernova will help alleviate import and export bottlenecks that have historically affected turnaround times.

With approximately 6,600 employees in Latin America, GE Vernova is serving its customers by providing solutions to help deliver a more affordable, reliable, sustainable, and secure energy future.

###

Notes to editors

*Trademark of GE Vernova and/or its affiliates.

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.

This week, GE Vernova shared two important updates, both of which we will discuss on today’s call.

Yesterday, we announced that we will acquire the remaining fifty percent stake of Prolec GE, our joint venture with Xignux, for $5.275 billion. The transaction strengthens our company’s position as a global grid equipment leader through a highly attractive, accretive acquisition of a leading grid equipment supplier and is expected to close by mid-2026, subject to regulatory approvals.

CAMBRIDGE, Mass., (October 22, 2025) – GE Vernova Inc. (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today reported financial results for the third quarter ending September 30, 2025.

“GE Vernova delivered another productive quarter with strong financial results. Our growth trajectory is accelerating and the demand environment for our equipment and services remains strong with $16 billion in backlog growth year-to-date. Our Gas Power equipment backlog and slot reservation agreements increased from 55 to 62 gigawatts sequentially, and our Electrification equipment backlog increased $6.5 billion year-to-date, to approximately $26 billion,” said GE Vernova CEO Scott Strazik. “We are leading from a position of strength and are focused on long-term growth and returns. This era of increased electricity investment has just started, and we have substantial opportunity ahead of us as we provide the solutions required to help the world electrify to thrive and decarbonize.”

"We delivered another strong quarter as we executed our financial strategy, with continued orders and revenue growth, significant margin expansion, and positive free cash flow. We expanded our backlog year-over-year and sequentially across equipment and services, with healthy equipment margin in backlog reflecting favorable price and our focus on disciplined underwriting,” said GE Vernova CFO Ken Parks. “As a result of our improving free cash flow linearity, we continued to return cash to shareholders through our share repurchase actions and quarterly dividend payment, while maintaining a healthy cash balance and solid investment grade balance sheet. We’re reaffirming our 2025 financial guidance, and we look forward to providing our 2026 financial guidance and updated outlook by 2028 at our investor event on December 9.”

Read full press release

View PDF

[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”, “anticipate”, “intend”, “plan”, “estimate”, “guidance”, “will”, “may,” and negatives or derivatives of these or similar expressions. These forward-looking statements include, among others, statements about the benefits we expect from our lean operating model; our expectations regarding the energy transition; the demand for our products and services; our ability to navigate the current dynamic environment; the estimated impact of tariffs; our expectations of future increased business, revenues, and operating results; our ability to innovate and anticipate and address customer demands; our ability to increase production capacity, efficiencies, and quality; our underwriting and risk management; current and future customer orders and projects; our actual and planned investments; our expected cash generation and management; our capital allocation framework, including share repurchases and dividends; operational safety; our restructuring programs and strategies to reduce operational costs; 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:

• Our ability to successfully execute our lean operating model;   

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.