CAMBRIDGE, Mass. (June 17, 2025) – GE Vernova Inc. (NYSE: GEV) today released its 2024 Sustainability Report highlighting the company’s successful sustainability performance. The report explores GE Vernova’s commitment to building a more sustainable electric power system by presenting progress made on each of the leading goals established in its Sustainability Framework launched last year.

The company also announced three new goals aimed at helping to support the growing global demand for electricity: to bring a total of 150 gigawatts (GW) of new power generating capacity online between 2024 and 2030, adding 30% of new power generation capacity and grid enabling capacity in developing or emerging economies, and to reach 30,000 students and learners through workforce development and training programs by 2030.

“The world needs more electricity and smarter electricity. We are entering an era where electrons are the foundation for growth, prosperity, and security, and our Sustainability Report maps the progress GE Vernova is making to meet this opportunity,” said Scott Strazik, CEO of GE Vernova. “This year’s report is our strongest proof point on how we are working to deliver on our mission to electrify and decarbonize the world together with our customers, our collaborators, and the communities where we operate, and we are just getting started.”

GE Vernova’s Sustainability Framework comprises four pillars – Electrify, Decarbonize, Conserve, and Thrive – each with leading goals that are core to the company’s sustainability programs, helping align its business performance with non-financial impacts.

Some key highlights from the 2024 Sustainability Report include:

• Electrify:
  • Brought an additional 31 GW of new power generating capacity online, more than the entire generating capacity of the U.S. state of Virginia, with 62% in developing and emerging economies.
  • Energized 71 GW of new power transformers, enabling new transmission capacity equivalent to the installed generating capacity of South Africa, with 34% in developing and emerging economies.
  • Announced three new goals: adding 150 GW of new power generating capacity by 2030, ensuring that 30% of new capacity added each year is in emerging and developing economies (as defined by the International Monetary Fund), and training 30,000 students and learners through workforce development programs by 2030.
  • Bringing a total of 150 GW of new power generating capacity online between 2024 and 2030, adding 30% of new power generation capacity and grid enabling capacity in developing or emerging economies; and reaching 30,000 students and learners through workforce development and training programs by 2030.
• Decarbonize:
  • Earned estimated carbon intensity ~20% below the global average of the existing grid for new generating capacity, avoiding ~27 million metric tons CO2 emissions in first full year of operations for new generating capacity, equivalent to 6.3 million gasoline-powered passenger vehicles driven for one year.
  • Reiterated its ambition to deploy and commercialize breakthrough technologies –hydrogen, carbon capture and storage, direct air capture, small modular reactors– to make progress toward net zero Scope 3 emissions from use of sold products by 2050.
• Conserve:
  • Reduced operational Scope 1 & 2 emissions (market-based) by 51% since 2019, achieved through improvements in internal processes across energy efficiency, SF6 reduction, and through purchasing renewable electricity and energy attribute certificates (EACs).
  • Announced a 38% coverage of its top products under the company’s 4R circularity framework.
• Thrive:
  • Released the first company-wide Human Rights Report and conducted 576 new supplier audits, with 559 suppliers approved and 17 suppliers rejected.
  • Donated over 23,000 GE Vernova employee volunteer hours, with nearly 1,300 global charities supported by the GE Vernova Foundation.
  • Facilitated over 9,300 student interactions through its Next Engineers program, donated 4,000+ hours by GE Vernova volunteers, with ~90% of Engineering Academy graduates going on to pursue engineering in higher education or through industry apprenticeships.

“I’m proud of our sustainability performance that follows through on our commitment to be a force for good for our investors and for the planet, people, and communities,” said Roger Martella, GE Vernova’s Chief Corporate Officer and Chief Sustainability Officer. “GE Vernova’s manufacturing strength and our employees who drive it position us uniquely to building some of the most complex equipment the planet needs.”

Apart from the new announced goals, GE Vernova’s latest sustainability report highlights new sections including the company’s commitment to the next generation of energy leaders, its efforts in driving energy sector innovation to power artificial intelligence and data centers, as well as its new Product Life Cycle Compliance (PLCC) program designed to scan, track, assess, and implement current and future product compliance regulations. The company also obtained external, third-party limited assurance on Scope 1, Scope 2, and Scope 3 use of sold products emissions to strengthen the foundation of GE Vernova's sustainability reporting and decarbonization strategy.

For more information, visit gevernova.com/sustainability and read the full 2024 Sustainability Report and the Executive Summary.

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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, such as statements about such as our expectations regarding electrification and decarbonization and the role that we and our products and services can play in such electrification and decarbonization. Forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from current expectations. These risks, uncertainties, and factors include those 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 filings with the U.S. Securities and Exchange Commission and as posted on our website at www.gevernova.com/investors/fls. GE Vernova does not undertake any obligation to update or revise its forward-looking statements except as required by law or regulation.

TOKYO, Japan (June 10, 2025) - GE Vernova (NYSE: GEV) and Japan’s Ministry of Economy, Trade and Industry (METI) today announced the launch of a first-of-its-kind focus group aimed at addressing challenges and opportunities and deepening collaboration in energy security and supply chain. The initiative was announced at a launch ceremony attended by METI’s Director-General for Energy and Environmental Policy, Shinichi Kihara, and GE Vernova’s Chief Corporate Officer and Chief Sustainability Officer, Roger Martella, witnessed by the State Minister of Economy, Trade and Industry, Yuichiro Koga.

This significant initiative aligns with Japan-US energy policy, building upon current’ relations, to further solidify cooperation between the two nations to strengthen the energy sector. The focus group will serve as a dedicated platform for GE Vernova and METI to engage on key themes crucial to Japan’s energy landscape, which include energy security in wind power; innovation in gas turbines utilizing hydrogen, ammonia, and Carbon Capture and Storage; and opportunities in electrification and nuclear energy.

The focus group will also endeavor to deepen collaboration between GE Vernova and Japanese companies in the energy sector. As part of the launch, GE Vernova signed the following Memoranda of Understanding (MOUs) with leading Japanese companies:

• Collaboration with Eurus Energy Holdings Corporation to explore opportunities under the GX (Green Transformation) Industrial Location in northern Hokkaido, utilizing GE Vernova’s onshore wind turbines for data center power needs and accelerate renewable energy adoption.
• Collaboration with Mitsubishi Electric Corporation’s Semiconductor Business to supply Insulated Gate Bipolar Transistors (IGBTs) for GE Vernova’s High Voltage Direct Current (HVDC) projects —supporting advanced electrification solutions and grid modernization worldwide.

“We welcome the opportunity to play a vital role in the advancement of the global energy sector in partnership with GE Vernova, a leading U.S. energy company with deep roots in Japan. This focus group, a testament to positive Japan-US bilateral ties, and the MOUs with our national champions Eurus Energy and Mitsubishi Electric, will serve as a powerful platform to drive innovation and strengthen our energy resilience for the future”, said Mr. Shinichi Kihara, Director-General for Energy and Environmental Policy, Ministry of Economy, Trade and Industry.

"With the launch of this first-of-its-kind focus group alongside METI, we are taking decisive action toward addressing the challenges facing the global energy sector. Our strong, ongoing relationships with Eurus Energy and Mitsubishi Electric are a step further in this endeavor, as we jointly explore the vast potential of onshore wind and electrification as key areas of focus. This collaboration is aligned with Japan’s 2050 net zero goals, and we are committed to delivering tangible progress in energy security and innovation across the energy value chain globally, through the development of breakthrough innovations like hydrogen, ammonia, advanced nuclear, and carbon capture technologies”, said Roger Martella, Chief Corporate Officer and Chief Sustainability Officer, GE Vernova.

GE Vernova has a long-standing presence in Japan, spanning over 130 years, and remains a key partner in the nation’s decarbonization journey. With approximately 450 employees in Japan, GE Vernova and its technologies contribute significantly to Japan’s stable power supply, accounting for around 50% of the country’s installed Heavy-Duty Gas Turbine power generation capacity and 25% of the country’s onshore wind capacity through its gas turbines, steam turbines, nuclear power, and wind turbines. All of GE Vernova’s business segments – Power, Wind, and Electrification – have a strong footprint in the country, positioning the company to optimize Japan’s energy system with holistic solutions across the entire energy value chain.

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Photo captions

Photo 1: Roger Martella (left), Chief Corporate Officer and Chief Sustainability Officer of GE Vernova; Yuichiro Koga (center), State Minister of Economy, Trade and Industry; and Shinichi Kihara (right), Director-General for Energy and Environmental Policy at the Ministry of Economy, Trade and Industry, at the signing ceremony.

Photo 2: Roger Martella (left), Chief Corporate Officer and Chief Sustainability Officer of GE Vernova; Tetsuya Suwabe (center), President and CEO of Eurus Energy Holdings Corporation; and Yuichiro Koga (right), State Minister of Economy, Trade and Industry, at the signing ceremony.

Photo 3: Johan Bindele (left), Vice President and CEO of Grid Systems Integration at GE Vernova; Masayoshi Takemi (center), Executive Officer and Group President of Semiconductor Device at Mitsubishi Electric Corporation; and Yuichiro Koga (right), State Minister of Economy, Trade and Industry, at the signing ceremony.

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.