Sydney, Australia (December 23, 2025) – GE Vernova Inc. (NYSE: GEV) announced today that it has signed an agreement with Aula Energy to provide 42 6.1 MW–158m¹ workhorse turbines for the Carmody’s Hill Wind Farm in Australia. GE Vernova’s scope includes turbine supply and installation, underpinned by a five-year full-service operation and maintenance agreement. The order was booked in the fourth quarter of 2025.

Carmody’s Hill Wind Farm follows an earlier deal to supply Aula Energy’s Boulder Creek Wind Farm project in Queensland, which closed in 2024 and features 38 GE Vernova 6 MW–164m turbines. Together, these two deals with Aula Energy in successive years highlight the ability of GE Vernova to support key customers in Australia.

GE Vernova is the only wind turbine OEM in Australia to have closed wind projects in nine successive years from 2017 to 2025, with Carmody’s Hill Wind Farm as the most recent success.

By continuing to deploy its proven 6 MW-class “workhorse” platform in Australia, GE Vernova and Aula Energy have been able to:

• Streamline and shorten contract negotiation cycles, leveraging standardized commercial and technical frameworks; and
• Accelerate the grid connection approval process, building on the platform’s established performance and grid credentials across multiple Australian states.  Grid approval for Carmody’s Hill Wind Farm was achieved nine months after application submission.

Carmody’s Hill Wind Farm is located approximately seven km east of the town of Georgetown in the Mid-North region of South Australia, around 180 km north of Adelaide.

Gilan Sabatier, Chief Commercial Officer for GE Vernova’s Onshore Wind business in International Markets, said, “We are delighted to build on our successful collaboration with Aula Energy to bring another high-quality wind project to Australia. Carmody’s Hill Wind Farm demonstrates how our workhorse strategy—deploying fewer turbine variants at scale—can help streamline contracting, accelerate grid approvals, and enhance quality and reliability across the fleet. With a broad cross-portfolio of capabilities and proven technology, GE Vernova is uniquely positioned to support Australia’s ambition to deliver more affordable, reliable and sustainable energy.”

Chad Hymas, Aula Energy CEO, said, “We’re pleased to be partnering once again with GE Vernova to deliver Carmody’s Hill Wind Farm. At Aula Energy we’re building enduring partnerships to lead Australia’s energy transition, faster, smarter, and with shared value for all. With the support of our partners, we’re committed to delivering a project that creates meaningful, long-term benefits for the Nukunu People, local communities, shareholders, and the sector.”

GE Vernova has a total installed base of approximately 57,000 turbines and nearly 120 GW of installed capacity worldwide. Committed to its customers' success for more than two decades, its product portfolio offers next-generation high-powered turbines at scale that drives decarbonization through high-quality, affordable, and sustainable renewable energy.

Australia has been part of the company’s story for more than 125 years and today is increasingly important for GE Vernova, providing careers for ~400 employees and ~200 field engineers across every state and territory. With more than 3 GW of wind turbines in operation or under construction, 10+ GW of gas-based power generation, software running 80% of the electricity grid, and providing ~40% of grid infrastructure of major utilities, GE Vernova is actively supporting efforts to make electricity more sustainable, affordable, reliable and accessible across Australia.

*Note to Editors: GE Vernova’s 6.1 MW turbine with a 158-meter rotor is what we refer to as the 6.1 MW–158m.

Delhi, India – ( 22 Dec 2025) - GE Vernova Inc. (NYSE: GEV) today announced that its Electrification Systems business has been awarded a major contract from Adani Energy Solutions Ltd. to supply high-voltage direct current (HVDC) technology for the 2.5-gigawatt (GW) Khavda–South Olpad renewable power transmission corridor in India. 

The Khavda–South Olpad corridor forms a critical backbone for India’s renewable energy expansion. Khavda, located in Gujarat’s Kutch region, is being developed as one of the world’s largest renewable energy zones, while South Olpad serves as a major pooling and injection point into India’s national transmission network. The corridor is designed to enable large volumes of renewable electricity generated in western India to be transferred efficiently into the wider grid.

GE Vernova’s scope

GE Vernova’s role in the project will be to provide advanced HVDC technology designed to operate at scale and with high reliability. This will include supplying a high-capacity ±500 kV, 2,500 MW (2 × 1,250 MW) voltage sourced converter (VSC)-based bipolar HVDC system for the point-to-point link.

HVDC systems are designed to transmit electricity over long distances with lower losses and greater controllability compared to conventional transmission approaches, making them well suited for large-scale renewable energy integration.

The scope covers the design of the complete HVDC system, including converter stations at each end, the supply of all major converter station equipment, and responsibility for erection, testing, and commissioning activities, excluding associated civil works. The system will be delivered using GE Vernova’s advanced eLumina™ control platform, designed to support stable, secure, and efficient grid operations.

The project will be mostly executed by GE Vernova’s India-based teams, drawing on local engineering expertise and manufacturing capabilities. Delivery will be planned in phases, with overall completion targeted by 2030.

“India is one of the world’s most important power markets, with rapidly growing electricity demand and large-scale renewable development, said Philippe Piron, President and CEO of GE Vernova’s Electrification Systems business.  “Projects like the Khavda–South Olpad HVDC corridor underscore the importance of high-capacity transmission infrastructure in connecting renewable energy zones with the national grid. This award reflects our continued commitment to India and our experience in delivering complex transmission projects that support grid reliability and long-term system performance. We appreciate the confidence placed in GE Vernova by Adani Energy Solutions and look forward to supporting the successful delivery of this project.”

“At Adani Energy Solutions, we are steadfast in our commitment to enabling India’s green energy transition by building robust infrastructure for renewable power evacuation. Our partnership with GE Vernova for the Khavda–South Olpad transmission corridor marks a significant milestone in advancing large-scale clean energy integration. We look forward to working together in delivering innovative solutions that will help power millions sustainably, bringing new opportunities and happiness to communities across the nation,” Mr. Kandarp Patel, CEO, Adani Energy Solutions Ltd.

A milestone for high-capacity HVDC deployment

With a capacity of 2,500 MW, the project represents the highest-rated VSC-based HVDC system planned in India to date. Projects of this scale highlight the growing role of advanced HVDC technology in enabling large-scale renewable integration and strengthening transmission networks in fast-growing power markets.

The successful delivery of high-capacity VSC-based HVDC systems at this level reflects the increasing maturity of next-generation HVDC technology and its readiness to support complex grid requirements—both in India and in other regions facing rapid electrification and demand growth.

Supporting grid stability in renewable-heavy systems

VSC-based HVDC technology plays an increasingly important role in renewable-heavy power systems by providing fast frequency response, enhancing grid stability, and enabling precise control of power flows. These capabilities help manage variability, reduce congestion, and support reliable grid performance as renewable penetration continues to increase.

GE Vernova has a long-standing track record in delivering large-scale transmission projects in India. This includes its role in supplying HVDC technology for landmark projects such as the Champa–Kurukshetra HVDC link, one of the country’s earliest ultra-high-capacity transmission systems, which enabled long-distance power transfer across regions. Building on this experience, GE Vernova continues to support India’s evolving grid requirements through advanced transmission technologies designed for scale, reliability, and integration of new generation sources.

-ENDS-

Notes to Editors:

This letter of award is expected to be booked as an order by GE Vernova’s Electrification Systems segment in the first half of 2026

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.

GE Vernova’s Grid Solutions business electrifies the world with advanced grid technologies and systems, enabling power transmission and distribution from the point of generation to point of consumption, and supporting a decarbonized and secured energy transition.

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.

In 2025, as GE Vernova celebrated one full year as a standalone company, the company took ideas that were only recently on the drafting board and put them into action. From small modular nuclear reactors to advanced grid software to a high-voltage superhighway on the Baltic Sea, a new world of innovations is emerging to electrify and decarbonize the world. Take a look at how 2025 was the year GE Vernova began making the future come alive today.

Earlier this year, GE Vernova CEO Scott Strazik wrote that helping to solve the energy challenges of tomorrow depends on the “gritty, never-give-up” hopefulness of its 75,000 employees. “What we’ve learned in our first historic year as GE Vernova is that the best way to do this starts on our factory floors, at the installed base, and in our research centers, all guided by a relentless sense of optimism in our capacity to create and lead positive change.”

In 2010, India’s grid was in crisis. The Asian nation struggled with power deficits close to 13% during periods of peak demand, while around one in four Indians still lacked access to electricity. But India has come a long way, and fast. Today 99.6% of Indians have electricity access.

Last month, world leaders met in Belém, Brazil, at the UN’s COP30 summit to share their plans to implement solutions to address climate change.

Berlin, Germany; Singapore (December 11, 2025) – GE Vernova and Seatrium today announced that their consortium has been awarded a contract by TenneT to deliver a major part of BalWin5, a new 2.2-gigawatt (GW) offshore high-voltage direct current (HVDC) grid connection designed to transmit electricity from offshore wind farms in the German North Sea to the onshore transmission network in Germany. Once operational, BalWin5 is expected to provide enough renewable electricity to power approximately 2.75 million households. BalWin5 is one of TenneT’s 2 GW projects. This new generation of powerful offshore grid connection systems is set to speed up the integration of large-scale offshore wind energy into the German grid, thereby supporting the country's energy transition and climate goals.

This contract is the fourth project awarded to the GE Vernova-Seatrium consortium under the five-year Framework Cooperation Agreement with TenneT announced in March 2023. It is also the consortium’s first win concerning TenneT’s German 2 GW projects. BalWin5 marks an important step in strengthening Germany’s electricity infrastructure and supporting the country’s long-term goals for energy security and decarbonization.

GE Vernova and Seatrium consortium’s scope

As part of the contract, GE Vernova’s Electrification Systems business is expected to deliver the onshore and offshore converter stations and the complete HVDC technology, including the advanced control and protection systems that help maintain stable and secure operation across the transmission network. HVDC links are designed to support the high-capacity, long-distance transmission of offshore wind power, helping to reduce transmission losses and improve overall system performance.

Seatrium is responsible for the design and construction of the offshore converter platform and will manage transportation and installation in the German North Sea. Works are scheduled to commence on 1 January 2026, with majority of platform fabrication taking place at Seatrium’s yards in Singapore and Batam.

“BalWin5 reflects the scale and ambition of Germany’s energy transition, and we are proud to support TenneT in this important program. Our Electrification Systems business brings decades of innovation in HVDC technology, helping deliver solutions that are designed for efficiency, affordability, and long-term energy security. Working alongside Seatrium, we are confident in our ability to deliver a high-quality system that strengthens the offshore grid and supports Europe’s move toward a more resilient and sustainable electricity infrastructure.” says, Philippe Piron, CEO, GE Vernova’s Electrification Systems business.

“We are proud to extend our partnership with TenneT and GE Vernova to deliver this transformative offshore wind solution as we collectively push boundaries to accelerate energy transition goals and innovation. Leveraging the proven design and experience gained from the first three platforms we are building for TenneT, we are confident in delivering an equally high-quality product safer and more efficiently through our series-build strategy, underpinned by the collective power harnessed from our One Seatrium Global Delivery Model.” says Samuel Wong, Executive Vice President of Seatrium Energy (Fixed Platforms).

About BalWin5, the 2.2-gigawatt offshore grid connection

TenneT’s BalWin projects are a series of large offshore grid connections designed to transport electricity from wind farms in the German North Sea to the onshore grid. Each project in the BalWin program is built to move significant volumes of renewable energy into Germany’s electricity system as part of the country’s wider offshore wind expansion.

BalWin5 is one of TenneT’s major new projects to bring more electricity from North Sea wind farms into Germany’s power grid. The connection is being designed to carry up to 2.2 gigawatts of wind power to homes and businesses, allowing Germany to make better use of the large offshore wind farms operating in the North Sea. The additional 200 megawatts above the standard 2-GW design come from building the system with enough technical headroom to transport more power when wind conditions allow. This means more renewable electricity can be delivered without needing extra infrastructure or added cost.

The system will include an offshore converter station in the North Sea, an onshore converter station at Bremen-Werderland, and a combined 325-kilometer sea and land cable system. Commissioning is planned for 2032.

Today’s offshore grid connections are typically much smaller, at around 900 megawatts. Increasing the transmission capacity to 2.2 gigawatts means that the connection can carry more power, making use of the infrastructure more efficiently and reducing the overall cost of bringing offshore wind to shore. By transporting more electricity per system, the cost per megawatt falls and the offshore network becomes more efficient.

TenneT is applying this new standard across several projects through long-term framework agreements, which give suppliers clearer visibility and allow the systems to be delivered faster, more efficiently, and at a lower cost.

-ENDS-

WILMINGTON, North Carolina (December 11, 2025) – The GE Vernova Hitachi Nuclear Energy (GVH) BWRX-300 small modular reactor (SMR) has completed Step 2 of the Generic Design Assessment (GDA) process in the UK.

The BWRX-300 completed Step 1 of the GDA process in December 2024 and GVH has now received formal notification about completion of Step 2. The Office for Nuclear Regulation (ONR), the Environment Agency (EA) and Natural Resources Wales (NRW) utilize the GDA process to ensure that new reactor designs meet the highest standards for safety, security and environmental protection. The ONR and EA statements indicate that their Step 2 assessment has not identified any fundamental safety, security safeguard or environmental protection shortfalls with the design of the BWRX-300.

“Completing Step 2 of the GDA is a significant regulatory milestone,” said Andy Champ, GVH UK Country Leader. “This is the fastest that any technology provider has completed steps 1 and 2, truly demonstrating the value of our progress in construction in Canada and is another sign that the BWRX-300 continues to advance globally.”

As it works to deploy the BWRX-300 in Poland and Eastern Europe, Orlen Synthos Green Energy (OSGE) coinvested in the GDA for the BWRX-300 as part of the UK government’s Future Nuclear Enabling Fund project to benefit from regulatory lessons learned.

“Today we have taken another step towards supporting Britain with much needed affordable, clean and reliable energy,” said Rafał Kasprow, CEO, OSGE. “By completing GDA Step 2, the BWRX-300 continues prove it is the world’s most deployment ready SMR.”

Momentum around the BWRX-300 continues to build globally. Construction of the first BWRX-300 is underway at Ontario Power Generation’s (OPG) Darlington site near Toronto. A total of four units are planned for the site. The U.S. Nuclear Regulatory Commission has accepted and is reviewing Tennessee Valley Authority’s (TVA) application to construct the first BWRX-300 in the U.S. at the utility’s Clinch River site in Oak Ridge, Tennessee. OPG, TVA, Duke Energy and Synthos Green Energy in Poland are investing in the standard design of the BWRX-300. These developments support GVH’s progress and leadership in scaling and deploying SMRs commercially to customers around the globe.

Yesterday, GE Vernova hosted its 2025 Investor Update event in New York City. We see a stronger financial trajectory ahead with substantially higher returns expected beyond 2028. We raised our multi-year financial outlook, and announced that our Board of Directors approved the doubling of our dividend and increased our share buyback authorization. We also reaffirmed our 2025 revenue and adjusted EBITDA margin* guidance, raised our 2025 free cash flow* guidance and presented our 2026 financial guidance.