Strong financial trajectory from robust demand and better execution

NEW YORK (December 10, 2024) – GE Vernova (NYSE: GEV), a unique industry leader enabling customers to accelerate the energy transition, today hosts its 2024 Investor Update event to present its multi-year financial outlook and frame its capital allocation strategy.

“GE Vernova is well-positioned to lead as the investment supercycle for the energy transition gains momentum,” said GE Vernova CEO Scott Strazik. “Robust demand for our technologies and services, along with better execution through our lean culture, is driving improved financial results. We are driving growth and innovation with $9 billion in cumulative capex and R&D investments planned through 2028, including an approximately 20 percent increase in R&D spend expected in 2025. With growing revenue, margins, and free cash flow, we are building on our strong foundation and deploying a disciplined capital allocation strategy for shareholder value creation.”

“We are executing our financial strategy, and we now expect to generate at least $14 billion in cumulative free cash flow by 2028,” said GE Vernova CFO Ken Parks. “Our large and growing backlog, with healthy margins from services and better equipment pricing, is fueling our trajectory as we raise our 2025 guidance and outlook by 2028. We remain committed to maintaining an investment grade balance sheet as we make organic investments, pursue targeted M&A, and return at least one third of cash generation to shareholders through dividends and share repurchases.”

Financial Outlook
Today, GE Vernova reaffirms its 2024 revenue and free cash flow* guidance and narrows its 2024 adjusted EBITDA margin* guidance range. The company also raises its multi-year financial outlook, previously presented at its Investor Day in March 2024.

(a - Compound annual growth rate through 2028; 2025 is the base year
(b - Represents the expected free cash flow* conversion by 2028

Multi-Year Segment Financial Outlook
GE Vernova also reaffirms its 2024 segment guidance and provides additional multi-year guidance.

Capital Allocation
GE Vernova’s strategic principles for capital allocation include incremental organic investments to drive profitable growth, returning at least one third of cash generation to shareholders, and targeted, bolt-on mergers and acquisitions along with select next-generation technology investments. The GE Vernova Board of Directors has declared a $0.25 per share quarterly dividend, payable on January 28, 2025 to shareholders of record as of December 20, 2024, and approved an initial $6B share repurchase authorization.

Event Webcast
GE Vernova CEO Scott Strazik and CFO Ken Parks will present live from New York City, beginning at 4:30 PM ET today. The event will also be webcast, and accompanying materials and a replay can be accessed on GE Vernova’s Investor Relations website here.

Non-GAAP Financial Measures
In this document, the Company sometimes uses information derived from consolidated financial data but not presented in its financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission (SEC) rules. These non-GAAP financial measures supplement the Company’s GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons the Company uses these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in this press release and GE Vernova's quarterly reports on Form 10-Q filed with the SEC and any updates or amendments it makes in future filings.

2024 Guidance and Outlook by 2028: Adjusted EBITDA margin*
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measures for adjusted EBITDA margin* in the 2024 guidance and outlook by 2028 without unreasonable effort due to the uncertainty of the costs and timing associated with potential restructuring actions and the impacts of depreciation and amortization.

2024 Guidance: Power segment organic EBITDA margin* expansion​
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measure for Power segment organic EBITDA margin* expansion in the 2024 guidance without unreasonable effort due to the uncertainty of foreign exchange rates.

2024 and 2025 Guidance: Free cash flow*​
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measure for free cash flow* in the 2024 and 2025 guidance without unreasonable effort due to the uncertainty of timing for capital expenditures.

2025-2028 Outlook: Cumulative Free cash flow*​
We cannot provide a reconciliation of the differences between the non-GAAP financial measures expectations and the corresponding GAAP financial measure for cumulative free cash flow* for 2025 through 2028 without unreasonable effort due to the uncertainty of timing for capital expenditures.

*Non-GAAP Financial Measure

Caution concerning forward-looking statements
Certain statements contained in this release and certain of our other public communications and SEC filings may constitute “forward-looking statements” that involve risks and uncertainties. Forward-looking statements are based on our current assumptions regarding future business and financial performance and condition. These statements by their nature address matters that are uncertain to different degrees, such as our expected future business and operating results and opportunities; our progress as an independent company; the demand for our products and services, the roles we expect them to play in the energy transition and our ability to meet those demands and execute those roles; our business strategy and the benefits we expect to realize; our expected operational and safety efficiencies and improvements, including from our lean operating model; our expectations regarding the energy transition; our actual and planned investments, including in breakthrough technologies and capital expenditures; our ability to increase production capacity, efficiencies, and quality; the ability of us and others to innovate breakthrough technologies that enable us to meet our sustainability goals and targets; the ability of us and others to deploy such technologies at scale; our expected cash generation; our capital allocation strategies, including our future capital deployment, including mergers and acquisitions, share repurchase activity and dividends, if any, and long-term shareholder value creation; and our commitment to maintaining an investment grade rated balance sheet. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Words such as “anticipates,” “believes,” “expects,” “estimates,” “intends,” “plans,” “projects,” and similar expressions, may identify such forward-looking statements. Any forward-looking statement in this release speaks only as of the date on which it is made. Although we believe that the forward-looking statements contained in this release are based on reasonable assumptions, you should be aware that many factors could affect our actual financial results, cash flows, or results of operations and could cause actual results to differ materially from those in such forward-looking statements, including but not limited to:

• Changes in macroeconomic and market conditions and market volatility, including risk of recession, inflation, supply chain constraints or disruptions, interest rates, the value of securities and other financial assets, oil, natural gas and other commodity prices and exchange rates, and the impact of such changes and volatility on the Company’s business operations, financial results and financial position;
• Global economic trends, competition and geopolitical risks, including impacts from the ongoing geopolitical conflicts (such as the Russia-Ukraine conflict and conflict in the Middle East), demand or supply shocks from events such as a major terrorist attack, natural disasters, actual or threatened public health pandemics or other emergencies, or an escalation of sanctions, tariffs or other trade tensions, and related impacts on our supply chains and strategies;
• Actual or perceived quality issues or product or safety failures related to our complex and specialized products, solutions, and services, the time required to address them, costs associated with related project delays, repairs or replacements, and the impact of any contractual claims for damages or other legal claims asserted in connection therewith, some of which may be for significant amounts, on our financial results, competitive position or reputation;
• Market developments or customer actions that may affect our ability to achieve our anticipated operational cost savings and implement initiatives to control or reduce operating costs;
• Significant disruptions in the Company’s supply chain, including the high cost or unavailability of raw materials, components, and products essential to our business, and significant disruptions to our manufacturing and production facilities and distribution networks;
• Our ability to attract and retain highly qualified personnel;
• Our ability to obtain, maintain, protect and effectively enforce our intellectual property rights;
• Our capital allocation plans, including the timing and amount of any dividends, share repurchases, acquisitions, organic investments, and other priorities;
• Downgrades of our credit ratings or ratings outlooks, or changes in rating application or methodology, and the related impact on the Company’s funding profile, costs, liquidity and competitive position;
• Shifts in market and other dynamics related to electrification, decarbonization or sustainability;
• The amount and timing of our cash flows and earnings, which may be impacted by macroeconomic, customer, supplier, competitive, contractual and other dynamics and conditions;
• Actions by our joint venture arrangements, consortiums, and similar collaborations with third parties for certain projects that result in additional costs and obligations;
• Any reductions or modifications to, or the elimination of, governmental incentives or policies that support renewable energy and energy transition innovation and technology;
• Our ability to develop and introduce new technologies to meet market demand and evolving customer needs;
• Our ability to obtain required permits, licenses and registrations;
• Changes in law, regulation or policy that may affect our businesses, such as trade policy and tariffs, regulation and incentives related to sustainability, climate change, environmental, health and safety laws, and tax law changes;
• Our ability and challenges to manage the transition as a newly stand-alone public company or achieve some or all of the benefits we expect to achieve from such transition;
• The risk of an active trading market not being sustained for our securities or significant volatility in our stock price; and
• The impact related to information technology, cybersecurity or data security breaches at GE Vernova or third parties.

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 Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections included in our information statement dated March 8, 2024, which was attached as Exhibit 99.1 to a Current Report on Form 8-K furnished with the Securities and Exchange Commission (SEC) on March 8, 2024 as may be updated from time to time in our SEC filings and as posted on our website at www.gevernova.com/investors/fls. There may be other factors not presently known to GE Vernova or which we currently consider to be immaterial that could cause our actual results to differ materially from those projected in any forward-looking statement that we make. We do not undertake any obligation to update or revise our forward-looking statements except as required by applicable 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.

About GE Vernova
GE Vernova 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.

GE Vernova’s mission is embedded in its name – it retains its legacy, “GE,” as an enduring and hard-earned badge of quality and ingenuity. “Ver” / “verde” signal Earth’s verdant and lush ecosystems. “Nova,” from the Latin “novus,” nods to a new, innovative era of lower carbon energy. Supported by the Company purpose, The Energy to Change the World, GE Vernova will help deliver a more affordable, reliable, sustainable, and secure energy future. Learn more: GE Vernova’s website and LinkedIn.

This February, when the National Academy of Engineering named the 114 Americans it was elevating to engineering’s highest honor, it cited Dennis Henneke, of GE Vernova’s nuclear business, GE Hitachi Nuclear Energy, for an imposing achievement: “applying probabilistic risk assessment [PRA] to enhance nuclear reactor safety.” The achievement, a kind of engineering grand slam — arcane complexity and vital real-world importance — was not, Henneke says, the result of a lifelong, noble quest.

This year’s annual United Nations climate summit, COP 29, is the first COP meeting to focus on finance in 15 years, and among the major agenda items delegates have been discussing are financial commitments by wealthier countries to help developing nations transition their energy infrastructure away from coal and other high-emissions sources and toward more renewable forms of energy.

CAMBRIDGE, Mass. (November 20, 2024) – GE Vernova Inc. (NYSE: GEV) Chief Executive Officer Scott Strazik and Chief Financial Officer Ken Parks will host an Investor Update event in New York, New York on Tuesday, December 10, 2024, at 4:30 PM EST. Strazik and Parks will provide an update on GE Vernova’s multi-year financial outlook and capital allocation strategy.

The event will be webcast and materials will be available through GE Vernova’s Investor Relations website at https://www.gevernova.com/investors/events/investor-update.

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.

When we look back on what catalyzed the hydrogen economy, we might say it all began in a small, historic steelmaking town in the state of South Australia. Here in Whyalla, at the top of the Spencer Gulf, north of Adelaide, ground will soon be broken for the construction of what is expected to be the world’s largest green hydrogen plant.

Hanoi, Vietnam (November 14, 2024) – As part of its ongoing efforts to support skills development, the GE Vernova Foundation was joined by Asia Society for Social Improvement and Sustainable Transformation (ASSIST) and Electric Power University in Hanoi today to announce a 750,000 USD investment in the workforce supporting Vietnam’s energy sector.  The RENEW Skills grant which was awarded to ASSIST will create a three-year skilling and upskilling program focused on university and college students and current technicians with the goal of addressing the skilled labor needs across Vietnam’s renewable energy industry.

Within the next decade, one of the greatest challenges for the energy sector will be the increasing demand for workers with technical skills. The energy sector requires more highly skilled workers than other industries and the largest gap emerging in that workforce around the world is in vocational and technical roles. As Vietnam works to meet its 2050 Net Zero commitment, skilled workers and technicians will play a vital role in building a sustainable energy future. And because of that, and in alignment with the Just Energy Transition Partnership agreement announced in 2022, it is important to invest in new training and educational programs and drive awareness of these critical careers as Vietnam implements its Resource Mobilization Plan.

"Skills-based training is essential for driving the energy transition and advancing the technologies of the future," said Ramesh Singaram, Board Director, GE Vernova Foundation and President & CEO, Gas Power Asia, GE Vernova. "We are proud to collaborate with ASSIST on this important initiative in Vietnam. A skilled workforce is fundamental to a nation's economic growth and social progress. Through this program, we are excited to create new opportunities for economically disadvantaged communities, offering pathways to well-paying jobs that promote financial independence and support the well-being of workers, their families, and our world."

The RENEW Skills Development Program will focus on both the current workforce and the future generations of university and technical vocational college students, by providing access to new curricula and practical training focused on wind energy technology operations and maintenance, grid integration, and workplace safety. Five learning labs, including two Centers of Excellence will be established with educational partners and equipped with modern renewable energy technologies training equipment which will serve as hubs for course development, teacher capacity building and student training. The program anticipates reaching over 4,000 students and current technical workers over the next three years. 

“We are honored to partner with the GE Vernova Foundation and Electric Power University to equip current and future workers with the skills needed for the energy transition,” said Aru David, Regional Director, ASSIST. “At ASSIST, we are dedicated to contributing to inclusive skill development initiatives leading to job opportunities in Vietnam and across Asia. The RENEW Skills Program will not only provide hands-on training and access to modern renewable energy technologies but also ensure that these opportunities reach communities that need them most, helping to build a sustainable, inclusive workforce for Vietnam’s green future.”

Assoc. Prof. Dinh Van Chau, President of Electric Power University, stated that "Electric Power University is honored to collaborate with the GE Vernova Foundation and The Asia Society for Social Improvement and Sustainable Transformation (ASSIST) in supporting the energy transition process in Vietnam. The RENEW Skills project provides significant opportunities for students, creating pathways to well-paying employment, particularly within Vietnam's energy sector.

GE Vernova has a long history and strong presence in Vietnam. There are over 1,100 employees in Vietnam who work closely with our customers locally and globally to support the country’s economy. With a robust footprint comprised of manufacturing facilities, repair and service centers, nearly 30% of Vietnam’s electricity needs are met through GE Vernova’s equipment and installed solutions today.

GE Vernova recognizes Vietnam’s unique energy resources and believes that a combination of gas and renewable energy generation is the most effective way to provide reliable energy and reduce carbon emissions. With its expertise in wind power and gas power generation technology, GE Vernova is dedicated to promoting the development of new energy sources and adjustable power solutions, an approach that aligns with Vietnam’s vision of building a new type of energy system that will enable the country to achieve carbon neutrality and create a sustainable, resilient power system for the future.

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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 newly formed GE Vernova Foundation is prioritizing employees through programs such as Matching Gifts and STAR Awards. As the Foundation grows, its philanthropic strategy and programs will focus 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.

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 often address GE Vernova’s expected future business and financial performance and financial condition, 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 the Company’s business operations, financial results and financial position and on the global supply chain and world economy.

About ASSIST
Asia Society for Social Improvement and Sustainable Transformation (ASSIST) is a Pan-Asian non-profit organization founded & operating since 2003 across several Asian countries. We specialize in capacity development initiatives in our key focus areas such as Education & Skills, Health, Agriculture & rural development and Green Economy. ASSIST Vietnam has been implementing social improvement & sustainable transformation projects in Vietnam since 2007. Its goal is to empower its target groups to make them resilient to the social, economic and environmental challenges. To learn more about ASSIST, visit www.assistasia.org.

About Electric Power University (EPU)
EPU is a public university with a multi-level and multi-discipline system, operating under the management of Vietnam Ministry of Industry and Trade (MoIT) and its main function is to provide high quality manpower at different training levels for the power sector to satisfy society’s needs. It is also one of the leading research centers for science and technology within the sector. Apart from retraining and advanced training for technical and management staff members of the power sector, the university also develops and promotes scientific research, international cooperation, transfer and deployment of new technology applications.

Guided by the philosophy of "comprehensive education, strong foundations, and sustainable future," and with the aim of becoming a leading applied university in Vietnam, we have established a comprehensive and autonomous model that integrates international education standards. Our numerous research outcomes have effectively met practical needs and contributed to the industrialization and modernization of our country; aligning with the core values of EPU, which are "Responsibility, Creativity, and Efficiency."

For further information about Electric Power University, please visit https://epu.edu.vn/.

CAMBRIDGE, Mass. (November 14, 2024) – Taking action to help recovery efforts following natural disasters in Asia, Europe, and the United States, today the GE Vernova Foundation announced a total of $500,000 in donations to CARE, Team Rubicon and the Spanish Red Cross. The donations to CARE will support those affected by Typhoon Yagi in Vietnam, the country’s strongest typhoon in three decades, and Storm Boris, which caused extensive flooding in central Europe, with southwestern Poland being one of the hardest hit areas. The collaboration with Team Rubicon will aid families recovering from Hurricane Milton in Florida, which devastated large areas across the state, and the grant to the Spanish Red Cross will help recovery efforts in Spain following severe flooding in the province of Valencia.

“We are proud to work with three impactful organizations in CARE, Team Rubicon, and the Spanish Red Cross who are helping those in need following devastating storms across the globe,” said Kristin Carvell, President, GE Vernova Foundation and Chief Communications Officer, GE Vernova. “We have many employees in Vietnam, Poland, Florida, and Spain, and the GE Vernova Foundation will continue to support communities where our employees live and work.”

In Vietnam, CARE is supporting ongoing relief efforts following Typhoon Yagi, with this funding focusing on impacted families in two of the most affected communities of the Cao Bang Province: Phan Thanh and Dinh Phung. They are doing this by providing multi-purpose cash assistance, household kits, and renovation of school facilities. It is anticipated that the GE Vernova Foundation’s $100,000 in funding will support 300 families, or approximately 1,200 individuals in Vietnam. In Poland, CARE will support over 10 local aid distribution centers with much needed coordination and distribution and provide case management assistance to vulnerable populations not able to access aid, including Ukrainian refugees. It is estimated through these efforts the GE Vernova Foundation’s $100,000 in funding will support over 5,000 people.

“We are very grateful to the GE Vernova Foundation for helping CARE provide relief in communities that are bearing the brunt of the extreme weather events that climate change is making increasingly frequent,” said Deepmala Mahla, CARE’s Chief Humanitarian Officer. “CARE focuses on empowering communities through local partnerships, recognizing that local organizations understand the unique challenges and needs of their regions. Our humanitarian responses are culturally relevant and sustainable. This approach not only enhances the effectiveness of aid but also builds local capacity, fostering long-term resilience in vulnerable communities.”

In Florida, Team Rubicon, a veteran-led humanitarian organization that serves global communities before, during and after disasters and crises, will assist communities in some of the hardest hit areas impacting the most vulnerable populations. The $200,000 in funding from the GE Vernova Foundation will support Team Rubicon’s large-scale Greyshirt volunteer response involving removing debris, tarping roofs, clearing roads, and mucking and gutting flooded homes. These often high-cost and labor-intensive services are provided at no cost for survivors in areas most impacted by this storm.

"We are grateful for the support of the GE Vernova Foundation as our Greyshirt volunteers continue to serve those impacted by Hurricane Milton in Florida," said Jeff Byard, Vice President of Operations at Team Rubicon. "This investment in our mission enables Team Rubicon to stay in communities for longer, reaching more disaster survivors in need of assistance."

The Spanish Red Cross mobilized immediately following devastating floods across the hardest hit regions of Spain, including Comunidad Valenciana, Andalucía, Castilla la Mancha and Murcia. They have deployed emergency response teams in high-risk areas, setting up temporary shelters and caring for the most vulnerable, especially the elderly, and are distributing basic aid like food, water, blankets, hygiene kits and providing first aid and psychosocial support. The Spanish Red Cross has also mobilized an emergency childcare team to provide assistance to families in shelters. The GE Vernova Foundation’s $100,000 grant will support the Spanish Red Cross’ continued response to provide immediate needs throughout the impacted region.

“We are deeply grateful for the invaluable support of The GE Vernova Foundation during the DANA emergency,” said Jaime Gregori, Fundraising and Corporate Alliances Director, Spanish Red Cross. “Their generous contribution plays a crucial role in helping us to provide immediate relief and long-term recovery for affected communities. The collaboration of companies is essential for the success of our humanitarian efforts, and together, we can make a lasting impact on those in need."

GE Vernova employees who make eligible donations to Team Rubicon, CARE, the Spanish Red Cross or other participating organizations can register for a match with the GE Vernova Foundation’s Matching Gifts program, which supports employees’ personal philanthropy and charitable giving by providing a match.

GE Vernova Foundation’s Disaster and Humanitarian Relief program responds to major global disasters and humanitarian crises, drawing on GE Vernova’s people, technology and other resources to reduce suffering and hasten recovery. Most recently, the GE Vernova Foundation partnered with the American Red Cross to alleviate Hurricane Helene devastation in the Southeastern United States.

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About the 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. As the Foundation grows, its strategic philanthropic strategy and programs will focus 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 Team Rubicon
Team Rubicon is a veteran-led humanitarian organization that serves global communities before, during, and after disasters and crises. Founded following the Haiti earthquake in 2010, the organization has grown to more than 150,000 volunteers across the United States and has launched over 1,100 operations domestically and internationally. To drive equity across disaster and humanitarian services, Team Rubicon focuses on three areas of impact: disaster services- from mitigation to immediate response to recovery; rebuild services- maintaining the fabric of communities through resilient building methods; and international services- providing emergent and surge medical services, WASH, and disaster risk reduction. Visit www.teamrubiconusa.org for more information. 

About CARE
Founded in 1945 with the creation of the CARE Package®, CARE is a leading humanitarian and development organization fighting global poverty. CARE places special focus on working alongside women and girls. Equipped with the proper resources, women and girls have the power to lift whole families and entire communities out of poverty. In 2023, CARE worked in 109 countries, reaching 167 million people through more than 1,600 projects. To learn more, visit www.care.org

About the Spanish Red Cross
The Spanish Red Cross (Cruz Roja Española) is a humanitarian organization dedicated to providing emergency assistance, disaster relief, and health services across Spain. Founded in 1864, it operates as a key part of the International Red Cross and Red Crescent Movement. The Spanish Red Cross focuses on supporting vulnerable populations, including those affected by natural disasters, refugees, and those in need of medical care or social services. Its work encompasses a wide range of programs, from disaster preparedness to social integration and health campaigns, with the goal of improving the lives and well-being of individuals in crisis situations.