GENERAL ELECTRIC CO

COMMERCIAL ENGINES & SERVICES. In the first six months of 2025, demand for commercial air travel grew with departures up nearly 4%. We are in frequent communication with our airline, airframe and maintenance, repair and overhaul (MRO) customers about the outlook for commercial air travel, new aircraft production, fleet retirements and after-market services, including shop visit and spare parts demand.

In the first half of 2025, we announced significant new deals with several major customers. Qatar Airways signed an agreement to purchase more than 400 engines, including 60 GE9X and 260 GEnx engines, with additional options and spares, to power its next- generation Boeing 777-9 and Boeing 787 aircraft. International Airlines Group announced an agreement to purchase GEnx engines to power their new fleet of Boeing 787 aircraft. ANA Holdings committed to more than 75 LEAP install and spare engines to power its Boeing 737 MAX and A321 NEO fleets, and also selected our GEnx engines to power its order of Boeing 787s. Malaysia Aviation Group ordered 60 LEAP install engines, plus additional spares, to power their new fleet of Boeing 737 MAX aircraft. Korean Air announced an agreement for GEnx and GE9X engines to power their recent order of Boeing 787-10s and Boeing 777-9s.

Internal shop visit revenue grew in the second quarter and total engine deliveries and LEAP engine deliveries increased primarily due to improved material supply. Total engineering investments, both company and partner-funded, increased compared to prior year. We are investing in our manufacturing and overhaul facilities and are deploying engineering and supply chain resources to increase production, expand capacity and strengthen yield. We also remain committed to investing in developing and maturing technologies that enable a more efficient future of flight. Notably, CFM International's RISE program is a suite of pioneering technologies including Open Fan, compact core and hybrid electric systems for compatibility with alternative fuels. The RISE program has completed over 350 component and module tests. This is one of several initiatives underway to help invent the future of flight. We also continued to invest to develop technologies to support our defense customers by developing technologies for sixth-generation aircraft.

2025 2Q FORM 10-Q 5

For the three months ended June 30, 2025, revenue was up $1.9 billion, or 30%, and profit was up $0.6 billion, or 33%, compared to the three months ended June 30, 2024.

Revenue increased due to increased spare parts and internal shop visit revenue and shop visit workscopes, increased engine deliveries and pricing, partially offset by customer mix.

Profit increased primarily due to increased spare parts volume, increased internal shop visit revenue and shop visit workscopes and improved pricing. These increases were partially offset by the impact from higher install engine deliveries, inflation and higher growth investment.

For the six months ended June 30, 2025, revenue was up $2.7 billion, or 22%, and profit was up $1.1 billion, or 34%, compared to the six months ended June 30, 2024.

Revenue increased due to increased spare parts and internal shop visit revenue and shop visit workscopes, increased engine deliveries and pricing.

Profit increased primarily due to increased spare parts and internal shop visit revenue and workscopes and improved pricing. These increases were partially offset by the impact of higher install engine deliveries, inflation, higher growth investment and an unfavorable change in estimated profitability of our long-term service agreements, primarily from the estimated impact from tariffs.

As of June 30, 2025, RPO increased $1.6 billion from December 31, 2024, from increases in equipment and services, primarily as a result of engines contracted under long-term service agreements that have now been put into service and from equipment orders outpacing revenue recognized.

DEFENSE & PROPULSION TECHNOLOGIES. Our results in the second quarter of 2025 reflect domestic and international government defense departments’ focus on modernizing and scaling their forces while continuing flight operations, driving services demand. A key underlying driver of our business is government funding, as most of the revenue in Defense & Systems is derived from funding that flows through the U.S. Department of Defense (DoD) budget, or equivalent international budgets.

In the first half of 2025, we announced an Indefinite Delivery/Indefinite Quantity (IDIQ) contract from the U.S. Air Force valued up to $5 billion to support foreign military sales for F110-GE-129 engines, which power F-15 and F-16 aircraft operated by allied nations worldwide. We also achieved important development and testing milestones on two advanced engines for the U.S. war fighter. We completed initial ground runs for the T901 on a Black Hawk helicopter and we also completed a Detailed Design Review for the XA102 adaptive cycle engine.

62025 2Q FORM 10-Q

For the three months ended June 30, 2025, revenue was up 7%, and profit was up 5%, compared to the three months ended June 30, 2024.

D&S revenue increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by engine mix. P&AT revenue increased primarily due to services volume and price.

Profit increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by incremental investments to support next-generation projects and inflation in our supply chain.

For the six months ended June 30, 2025, revenue was up 4%, and profit was up 10%, compared to the six months ended June 30, 2024.

D&S revenue increased primarily due to increased engine deliveries, aircraft systems product growth and price, partially offset by lower services volume. P&AT revenue increased primarily due to services volume and price.

Profit increased primarily due to increased engine deliveries, aircraft systems product growth, customer mix and productivity. This increase was partially offset by incremental investments to support next-generation products and inflation in our supply chain.

As of June 30, 2025, RPO increased $1.2 billion, or 7%, from December 31, 2024, primarily due to increases in equipment from orders outpacing revenue recognized.