GE Vernova Boosts 2028 Outlook To $52B Revenue And 20% EBITDA Margin, Targets $200B Backlog, 80 GW Contracts, And $22B Free Cash Flow; Raising Dividend From $0.25 To $0.50 Per Share And Expanding Buyback Authorization From $6B To $10B

A stronger financial trajectory with substantially higher returns expected beyond 2028

• Now anticipates $52B of revenue and 20% adjusted EBITDA margin* by 2028, up from $45B of revenue and 14% adjusted EBITDA margin*
• 18 GW of gas turbine contracts signed quarter-to-date; expects to reach 80 GW of combined slot reservation agreements and backlog1 by year-end
• Expects to grow total backlog from $135B to approximately $200B by year-end 2028, inclusive of doubling the size of Electrification backlog from $30B to $60B
• Expects to generate at least $22B of cumulative free cash flow* from 2025 to 2028, up from at least $14B, after investing approximately $10B in cumulative capex and R&D in that time period
• Board of Directors declares a $0.50 per share quarterly dividend, payable in the first quarter of 2026, and increases share repurchase authorization to $10B, from $6B