GENERAL ELECTRIC CO

COMMERCIAL ENGINES & SERVICES. In the first nine months of 2025, demand for commercial air travel grew with departures up 3%. 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 three quarters 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 LEAP, GEnx and GE9X engines to power their recent orders of Boeing 737 MAX, 787-10s and 777-9s aircrafts. Cathay Pacific committed to purchasing GE9X engines to power their recent order of Boeing 777-9 aircraft.

2025 3Q FORM 10-Q 5

Internal shop visit revenue grew in the third 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 both durability and a more efficient future of flight. We recently launched our second dust test on the GE9X engine, which will continue to mature the design pre-entry-into-service. This builds upon over 30,000 cycles of testing, including 9,000 endurance cycles. 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. We recently began dust ingestion testing on next-gen HPT blades for RISE compact core development, a key milestone in advancing durability and reliability across the program. This is one of several initiatives underway to help invent the future of flight. We also continue to invest to develop technologies to support our defense customers by developing technologies for sixth-generation aircraft.

For the three months ended September 30, 2025, revenue was up $1.9 billion, or 27%, and profit was up $0.6 billion, or 35%, compared to the three months ended September 30, 2024.

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

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

For the nine months ended September 30, 2025, revenue was up $4.6 billion, or 24%, and profit was up $1.7 billion, or 35%, compared to the nine months ended September 30, 2024.

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

Profit increased primarily due to increased internal shop visit and spare parts volume and higher 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 September 30, 2025, RPO increased $3.6 billion or 2% from December 31, 2024, as a result of contract modifications, 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 third 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 War budget, or equivalent international budgets.

In the first three quarters 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 achieved first flight for the T901 on a Black Hawk helicopter.

62025 3Q FORM 10-Q

For the three months ended September 30, 2025, revenue was up $0.6 billion, or 26%, and profit was up $0.2 billion, or 75%, compared to the three months ended September 30, 2024.

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

Profit increased primarily due to higher volume in Defense and Avio, customer mix, price and lower losses in our Colibrium Additive business, partially offset by incremental investments to support next-generation projects and inflation in our supply chain.

For the nine months ended September 30, 2025, revenue was up $0.8 billion, or 11%, and profit was up $0.2 billion, or 27%, compared to the nine months ended September 30, 2024.

D&S revenue increased primarily due to increased engine deliveries and aircraft systems product growth and price. P&AT revenue increased primarily due to volume and price.

Profit increased primarily due to higher volume in Defense and Avio, aircraft systems product growth, customer mix, price, productivity and lower losses in our Colibrium Additive business. This increase was partially offset by incremental investments to support next-generation products and inflation in our supply chain.

As of September 30, 2025, RPO increased $1.1 billion, or 6%, from December 31, 2024, primarily due to increases in equipment from orders outpacing revenue recognized.