GE Vernova’s action on electrification and decarbonization go hand in hand with a vision of optimism for the future of energy and sustainability. See how GE Vernova is building the energy of change inside its manufacturing floors.

GREENVILLE, South Carolina (May 22, 2025) – Last week, GE Vernova and Clemson University celebrated the graduation of 33 students from Next Engineers, a global college-and career-readiness program creating opportunities for young people to become engineers. This is the second graduating class of Next Engineers: Engineering Academy students in Greenville, South Carolina.

Thirty-three students from the program’s second Academy cohort celebrated their graduation alongside family, friends, GE Vernova, and Next Engineers leaders at Clemson University’s Conference Center & Inn. Clemson University is the educational partner for the local Next Engineers program, which was established in 2021.

John Intile, Vice President, Engineering GE Vernova, told the graduates that they are critical to driving transformation and shaping a better, brighter, more sustainable future for all.

“You are the embodiment of the energy of change. Your education--and this program--has equipped you with the skills, knowledge, and resilience required to make a meaningful impact in whatever path you choose. As you prepare to enter this next chapter, know that your GE Vernova family will be with you sharing their resilient optimism in you and the future you will create. We believe wholeheartedly that each one of you has the energy to change the world.”

Students who complete the Engineering Academy program and enroll in a qualified engineering or engineering-related degree program receive scholarships to support their education toward becoming engineers. To date, the Next Engineers program in Greenville has reached nearly 5,400 students and awarded over $900,000 in scholarships to qualifying graduates.

Serita Acker, the executive director of Clemson’s PEER & WISE, said that the skills and knowledge students have received have laid a solid foundation and she is proud to witness this second cohort pursue engineering degrees at institutions across the country.

“Now in our fourth year, Next Engineers continues to transform lives by investing in the future of STEM and empowering the next generation of diverse innovators. I am especially grateful for the Clemson University faculty, staff, students, and graduate students for their continued engagement, as well as for the partnership and support from Upstate high schools who help make this initiative possible.”

The Next Engineers: Engineering Academy is a transformative learning experience designed for students aged 15 to 18. Through a rigorous curriculum, immersive design challenges, and career coaching, students learn to think and act like engineers. The program is supported by Clemson who equips participants with the skills needed to build an engineering identity and pursue successful careers in engineering fields. GE Vernova engineers and employees from Greenville, S.C., actively engage with the program through skill-based volunteering, donating over 1,200 hours last year.

Next Engineers is not the only way the community has committed to producing the next generation of STEM talent. The GE John Lammas Annual Scholarship, funded by GE Vernova in Greenville, provides $8,000 scholarships to undergraduate students majoring in general engineering, chemical engineering, computer engineering, computer information systems, electrical engineering, industrial engineering, mechanical engineering and materials science and engineering.

For more information about Next Engineers and the Engineering Academy, visit NextEngineers.org.

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About Next Engineers
Next Engineers, a program originally funded by the GE Foundation in 2021, now known as the GE Aerospace Foundation, is a college and career readiness program dedicated to inspiring and preparing the next generation of engineers. Through innovative programs, mentorship, and community partnerships, we empower young minds to shape a better future through engineering.

About Clemson University
One of the most productive public research universities in the nation, Clemson University attracts and powerfully unites students and faculty whose greatest desire is to make a difference in the lives of others. Ranked among the best national public universities by U.S. News & World Report, Clemson is dedicated to teaching, research, and service. Our main campus, located in Upstate South Carolina, sits on 1,400 acres in the foothills of the Blue Ridge Mountains, along the shores of Lake Hartwell. We have a presence in every South Carolina county through research facilities, economic development hubs and Innovation Campuses. Through the research, outreach and entrepreneurial projects led by our faculty and students, Clemson University is driving economic development and improving quality of life in South Carolina and beyond.

CAMBRIDGE, Mass. (May 15, 2025) – GE Vernova Inc. (NYSE: GEV) Chief Executive Officer, Scott Strazik, will present at the Bernstein 41st Annual Strategic Decisions Conference in New York City on Wednesday, May 28, at 11:00 AM ET. Strazik will speak in a fireside chat on how GE Vernova is delivering on growing demand at the beginning of the electricity investment supercycle.

The conference webcast and replay will be available through GE Vernova’s Investor Relations website at https://www.gevernova.com/investors/events.

Additional information

GE Vernova’s website at https://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.

RIYADH, Kingdom of Saudi Arabia (May 14, 2025) – In the presence of HRH Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Donald Trump, President of the United States of America, GE Vernova Inc. (NYSE: GEV) announced initiatives worth up to $14.2 billion for its world class energy equipment technology and services to support power generation and grid stability projects. The announcements include up to $2 billion in backlog or on a reservation agreement as of the first quarter of 2025, with future contracts and memorandums of understanding (MOUs) for agreements spanning across the next four years. The initiatives are expected to play a strong role in supporting the Kingdom to achieve its energy goals under Saudi Vision 2030 and transition to net zero by 2060.

“As the world's energy equipment manufacturer, GE Vernova is proud to deploy world class technology to help deepen the longstanding relationship between the United States and the Kingdom of Saudi Arabia, advance energy security, and strengthen the economic prosperity and competitiveness of both nations. We are thankful for the leadership of both governments for putting energy manufacturing, innovation, and technology front and center, setting the strongest possible precedent for the role of equipment to unlock more solutions globally. We are committed to continuing our work to grow capacity and jobs in the U.S. and beyond to meet these critical needs," said Scott Strazik, CEO of GE Vernova.

Collaborations to accelerate the energy transition and power Saudi Arabia forward

• Saudi Electricity Company (SEC) and GE Vernova announced initiatives spanning the supply of highly efficient and flexible heavy duty gas turbines - built in Greenville, SC, with a deep U.S. supply chain; synchronous condensers and balance of plant equipment that can support grid stability by providing voltage regulation, reactive power, and system strength, supplying crucial inertia to maintain reliable operations as more variable renewable energy is integrated into the system; and capital parts, maintenance and repair services for more efficient and reliable power plant operations.
• Principal Buyer and GE Vernova entered MOUs to supply advanced power generation equipment and services for future projects; commercialize carbon capture technologies; and training and investments in power sector manufacturing, repairs, and research and development (R&D) activities.
• ACWA Power and GE Vernova signed frameworks to collaborate on identifying and exploring potential opportunities to supply high efficiency gas turbines and electrification equipment for projects expected in the Kingdom of Saudi Arabia. ACWA Power is the world's largest private water desalination company, a leader in energy transition, and a first mover in green hydrogen.
• Aramco and GE Vernova announced collaborations to provide maintenance services, repairs, spare parts, and more to support the reliable operations of various power plants around the Kingdom.

With a power generation technology installed base of more than 50 gigawatts, and nearly 90 years of operations in the Kingdom, GE Vernova plays a vital role in Saudi Arabia’s energy transition, supporting economic growth, and fostering talent. The company’s presence in Saudi Arabia includes the GE Manufacturing and Technology Center (GEMTEC) Campus in Dammam - featuring a service and repairs center for gas turbines, a manufacturing facility for heavy duty gas turbines and components, and a research and development cell – as well as an employee base of up to 850 people.

Today, GE Vernova released its first quarter 2025 financial results. We had a strong start to 2025 with continued growth, margin expansion and significant cash generation, while executing our disciplined capital allocation strategy. We are reaffirming our 2025 financial guidance, including the impact of tariffs as currently outlined and resulting inflation, net of mitigating actions.

CAMBRIDGE, Mass. (April 23, 2025) – GE Vernova Inc. (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today reported financial results for the first quarter ending March 31, 2025.

“We delivered strong results in the first quarter and our businesses continued to execute well. We grew our equipment and services backlog, meaningfully improved margins in each segment, and are returning a significant amount of capital to shareholders,” said GE Vernova CEO Scott Strazik. “Our lean culture is enabling us to deliver on accelerating global electricity demand as we prioritize safety, quality, delivery, and cost. We are well-positioned to navigate the current dynamic environment, and we remain focused on creating value for stakeholders and investing in our future. I appreciate our customers’ continued trust in us and our team’s dedication and I’m excited for what’s ahead as we are only at the beginning of the electricity investment supercycle.”

"We had a strong start to 2025 as we continue executing our financial strategy, delivering disciplined revenue growth, margin expansion, and significant free cash flow in the first quarter. We generated positive free cash flow in the first quarter, a milestone for the GE Vernova businesses, reflecting strong down payments and working capital management resulting in further improvement in linearity,” said GE Vernova CFO Ken Parks. “We executed on our commitment to return cash to shareholders through our share repurchase actions and inaugural dividend payment, while maintaining a healthy cash balance and solid investment grade balance sheet. We are encouraged by our first quarter results and are reaffirming our 2025 financial guidance.”

Read full press release

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*Non-GAAP Financial Measure. See the section titled “Non-GAAP Financial Measures” in the press release, which is accessible at the link above.

[1] Defined as remaining performance obligation (RPO)

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;
• Our ability to innovate and successfully identify and meet customer demands and needs;
• Our ability to successfully compete;
• Significant disruptions in our supply chain, including the high cost or unavailability of raw materials, components, and products essential to our business;
• Significant disruptions to our manufacturing and production facilities and distribution networks;
• Changes in government policies and priorities that reduce funding and demand for energy equipment and services;
• Shifts in demand, market expectations, and other dynamics related to energy, electrification, decarbonization, and sustainability;
• Global economic trends, competition, and geopolitical risks, including conflicts, trade policies, and other constraints on economic activity;
• Product quality issues or product or safety failures related to our complex and specialized products, solutions, and services;
• Our ability to obtain required permits, licenses, and registrations;
• Our ability to attract and retain highly qualified personnel;
• Our ability to develop, deploy, and protect our intellectual property rights;
• Our capital allocation plans, including the timing and amount of any dividends, share repurchases, acquisitions, organic investments, and other priorities;
• Our ability to successfully identify, complete, integrate, and obtain benefits from any acquisitions, joint ventures, and other investments;
• The price, availability, and trading volumes of our common stock;
• Downgrades of our credit ratings or ratings outlooks;
• The amount and timing of our cash flows and earnings;
• Our ability to meet our sustainability goals;
• The impact from cybersecurity or data security incidents;
• Changes in law, regulation, or policy that may affect our businesses and projects, or impose additional costs;   
• Natural disasters, weather conditions and events, public health events, or other emergencies;
• Tax law and policy changes;
• Adverse outcomes in legal, regulatory, and administrative proceedings, actions, and disputes; 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 March 31, 2025, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" sections included therein, as may be updated from time to time in our SEC 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.

Keeping up with changes that support customers’ needs and increase employee satisfaction is an important part of building the future at GE Vernova. Though working from different parts of the world, these three team members — who appeared today at the New York Stock Exchange opening bell to celebrate Earth Day — share values, and each one sets an example by bringing talent and enthusiasm to their work in building relationships with people from a variety of backgrounds and cultures.

Building Bridges for Inclusion: Julia Lima

They’re the team members who make their colleagues feel they can do anything. They have detailed insight into how complex systems work, yet they focus on the essentials so that everyone understands the goal on the horizon. They celebrate small wins, knowing they will ultimately lead to larger successes.

CAMBRIDGE, Mass. (April 22, 2025) – As the world celebrates Earth Day, the GE Vernova Foundation today announced a new grant program focused on green spaces, an expansion of its commitments to growing stronger, more resilient communities and creating long-lasting environmental benefits through innovation and partnership. The announcement was made from the New York Stock Exchange where foundation and company leaders from across GE Vernova were honored to ring the Opening Bell ® in recognition of Earth Day.

To kick off the initiative, the Foundation committed a $500,000, two-year grant to the Trust for Public Land (TPL) - $250,000 of which will be allocated to helping bring green spaces to underrepresented communities in the Boston area. This grant will support TPL’s Parks for People program and will aim to revitalize public spaces in Dorchester, Roslindale, and Mattapan, providing nearly 40,000 Boston residents access to a green space within a 10-minute walk. GE Vernova opened its headquarters in Cambridge in 2023.

“These new parks and schoolyards will help foster stronger, healthier communities and provide local students and residents with much-needed green spaces,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “At GE Vernova, we are powered by the energy of change, and this initiative reflects our ongoing commitment to sustainability, innovation, and community resilience, helping to create a brighter future for all.”

“Investing in vibrant, welcoming green spaces isn’t just about parks - it’s about building healthier, stronger neighborhoods for generations to come,” said Jodi Valenta, Massachusetts Program Director for Trust for Public Land. “With support from the GE Vernova Foundation, we’re transforming park access in Boston, bringing nearly 40,000 people outdoor access close to home. Projects like the Edgewater Trail and Archdale Community Greenspace will create new opportunities for communities to connect with nature, stay active, and enjoy the benefits of the outdoors.”

The park projects are “shovel-ready” and set to be initiated and completed within the next 12 to 24 months. All projects are based on a participatory design process, resulting in hundreds of residents exploring environmental and sustainability concepts, landscape, and outdoor design, creating entire communities of conservationists. The projects will incorporate infrastructure such as catch and release stormwater systems to reduce flooding, tree canopies and rain gardens showcasing native plants.

As the Foundation continues to grow, our goal is to continue putting the company’s purpose - The Energy to Change the World - into practice by expanding this program’s reach to the global communities where our employees live and work.

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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 GE Vernova Foundation resources are channeled into initiatives focused on championing the global workforce needed for the energy transition as well as building stronger and more resilient communities. Learn more at www.gevernova.com/about/philanthropy.

About Trust for Public Land
Trust for Public Land (TPL) is a national nonprofit that works to connect everyone to the benefits and joys of the outdoors. As a leader in equitable access to the outdoors, TPL works with communities to create parks and protect public land where they are needed most. Since 1972, TPL has protected more than 4 million acres of public land, created more than 5,504 parks, trails, schoolyards, and iconic outdoor places, raised $110 billion in public funding for parks and public lands, and connected nearly 9.7 million people to the outdoors. To learn more, visit tpl.org.

ATLANTA, GA. (April 22, 2025) – As the world celebrates Earth Day, the GE Vernova Foundation today announced a new grant program focused on green spaces, an expansion of its commitments to growing stronger, more resilient communities and creating long-lasting environmental benefits through innovation and partnership. The announcement was made from the New York Stock Exchange where foundation and company leaders from across GE Vernova were honored to ring the Opening Bell ® in recognition of Earth Day.

To kick off the initiative, the Foundation committed a $500,000, two-year grant to the Trust for Public Land (TPL) - $250,000 of which will be allocated to Atlanta, home to one of GE Vernova’s largest U.S. sites. The grant will fund TPL’s Community Schoolyards program, and will support Atlanta Public Schools by transforming 10 schoolyards into new green spaces, providing nearly 35,000 students and residents access to a green space within a 10-minute walk.

“These schoolyards will foster healthier, more vibrant communities, providing students and residents with access to nature,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “At GE Vernova, we are powered by the energy of change, and this initiative reflects our ongoing commitment to sustainability, innovation, and community resilience, helping to create a brighter future for all.”

“In too many communities in and around Atlanta - especially in lower-income neighborhoods and communities of color - access to the outdoors remains out of reach,” said George Dusenbury, Georgia State Director for Trust for Public Land. “With the GE Vernova Foundation’s support, we’re changing that by transforming schoolyards into vibrant, green spaces that serve students and the entire community. These reimagined schoolyards provide nearly 35,000 students and residents with a safe place to play, connect, and enjoy the outdoors - right in their own neighborhoods.”

The schoolyard projects are “shovel-ready” and set to be initiated and completed within the next 12 to 24 months. All projects are based on a participatory design process, resulting in hundreds of students exploring environmental and sustainability concepts, landscape, and outdoor design, creating the next generation of conservationists. The projects will incorporate infrastructure such as catch and release stormwater systems to reduce flooding, tree canopies and rain gardens showcasing native plants.

In addition to funding, the Foundation will host a volunteer event at Fickett Elementary School in Atlanta to prepare the schoolyard and engage employees in environmental stewardship. As the Foundation continues to grow, our goal is to continue putting the company’s purpose - The Energy to Change the World - into practice by expanding this program’s reach to the global communities where our employees live and work.

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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 GE Vernova Foundation resources are channeled into initiatives focused on championing the global workforce needed for the energy transition as well as building stronger and more resilient communities. Learn more at www.gevernova.com/about/philanthropy.

About Trust for Public Land
Trust for Public Land (TPL) is a national nonprofit that works to connect everyone to the benefits and joys of the outdoors. As a leader in equitable access to the outdoors, TPL works with communities to create parks and protect public land where they are needed most. Since 1972, TPL has protected more than 4 million acres of public land, created more than 5,504 parks, trails, schoolyards, and iconic outdoor places, raised $110 billion in public funding for parks and public lands, and connected nearly 9.7 million people to the outdoors. To learn more, visit tpl.org.