GE Aerospace third quarter 2024 performance Financial results & company highlights October 22, 2024

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Non-GAAP financial measures:

In this document, we sometimes use information derived from consolidated financial data but not presented in our 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 rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered alternatives to the corresponding GAAP measures. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are included in our earnings release, our Form 10-Q and the appendix of this presentation, as applicable.

Additional information:

Amounts shown on subsequent pages may not add due to rounding.

CFM International is a 50/50 JV that produces CFM56 and LEAP engine families. RISE is a program of CFM International. CFM RISE is a registered trademark. Engine Alliance is a 50/50 JV that produces the GP7200 engine.

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We invent the future of flight, lift people up and bring them home safely

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Passengers flew with GE Aerospace technology under wing in 2023

Figures include equipment made by GE and JVs.

~900K

People flying at any given time on GE Aerospacepowered aircraft

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powered by our engines

GE Aerospace: 3Q'24 highlights

GE Aerospace

Delivered strong orders, earnings and substantial cash … raising FY'24 earnings and cash guidance

Commercial Engines & Services (CES)

Orders and profit up double-digits from services, OE output progress q/q … servicing and growing the industry's most extensive installed base

Defense & Propulsion Technologies (DPT)

Demand strong while continuing to focus on improving delivery … leading defense programs, developing mission critical technology




enabling >20% sequential growth in engine deliveries

Robust demand for services & equipment: 3Q orders +28%



The Polish Ministry of National Defense finalized an agreement for more than 200 T700 engines to support the anticipated acquisition of 96 Boeing AH-64E Apache Guardian helicopters.

GE Aerospace: 3Q'24 performance



Significant adjusted earnings* growth & FCF*

Commercial Engines & Services (CES): 3Q'24 performance

Results

Dynamics


• ▪ Orders: $9.8B, +29% … services +24% and equipment +39%
• ▪ Revenue : $7.0B, +8%
• -Services: +10% … spare parts sales, workscope and price offset internal shop visits (1)%
• -Equipment: +5% … customer mix and price more than offset units (4)%
• ▪ Operating profit: $1.8B, +16%
• -Op profit margin : 25.7%, +180bps … services volume and price offset inflation and investments

Defense & Propulsion Technologies (DPT): 3Q'24 performance

Results

Dynamics


• ▪ Orders: $3.0B, +19% … primarily Defense and Systems
• -Defense book to bill: 3Q 1.6x; YTD 1.2x
• ▪ Revenue : $2.2B, +2%
• -Defense & Systems: (2)% … lower units and engine mix more than offset price
• -Propulsion & Additive Technologies: +9% … primarily Avio Aero
• ▪ Operating profit: $0.2B, (18)%
• -Op profit margin : 9.8%, (240)bps … inflation, engine mix and investments more than offset price improvement



GE Aerospace: FY'24 total company guidance as of October 22, 2024


GE Aerospace: set to soar



Best performing services and products underwing, balanced across narrowbody, widebody, rotorcraft, combat and mobility platforms

Robust technologies and proven products ... continuous improvements prioritizing safety, quality, delivery, and cost - in that order

GE Aerospace's proprietary lean operating model to deliver exceptional value to customers and shareholders



Breakthrough innovation

Leading engineering inventing next-gen tech to drive efficiency, reliability & decarbonization along with advanced defense capabilities

Most extensive installed base

Unrivaled customer service and flight support creates customer intimacy, learning, and network flexibility across industry's largest fleets

Consistently growing profit and generating FCF*, compounding with capital deployment and return opportunities




Q&A


Appendix

• 14 3Q EPS bridge
• 15 2024 segment guidance
• 16 2024 additional items
• 17 Orders and revenue

3Q'24 adjusted earnings per share* bridge


GE Aerospace: FY'24 guidance as of October 22, 2024 ($ in billions)




GE Aerospace: additional items as of October 22, 2024 ($ in millions, unless otherwise noted)


• (a - $1.3B in 3Q'24 and $3.3B in 3Q'24 YTD under the $15B authorization announced in March 2024
• (b - Interest represents Interest and other financial charges excluding Insurance and U.S. tax equity
Orders and revenue - supplemental information ($ in billions)


Non-GAAP reconciliations

19 QTD adjusted revenue, adjusted costs, adjusted other income, operating profit and adjusted earnings 20 YTD adjusted revenue, adjusted costs, adjusted other income, operating profit and adjusted earnings 21 Free cash flow




QTD adjusted revenue*, adjusted costs*, adjusted other income*, operating profit* and adjusted earnings*




YTD adjusted revenue*, adjusted costs*, adjusted other income*, operating profit* and adjusted earnings*


Free cash flows*


• (c - Includes the following: (Gains) losses on retained and sold ownership interests and other equity securities, principal pension plans (net), other post retirement benefit plans (net), income taxes (net), goodwill impairments and all other operating; includes separation cash expenditures and Corporate restructuring cash expenditures (d - FCF* conversion: FCF* / adjusted earnings*

Upcoming calendar

4Q'24 Earnings

January 23, 2025

1Q'25 Earnings

April 22, 2025

2Q'25 Earnings

July 22, 2025

3Q'25 Earnings

October 21, 2025