GE HealthCare Technologies Inc.

RESULTS OF OPERATIONS

The following tables set forth our results of operations for each of the periods presented.

TOTAL REVENUES.

(1) Financial information not presented within the reportable segments, shown within the Other category, represents HealthCare Financial Services, which does not meet the definition of an operating segment.

Total revenues were $5,295 million, growing 5.7% as reported and 3.5% organically*. Sales of products increased 4.7% or $153 million primarily driven by strong growth in PDx and AIS revenues, partially offset by declines in PCS revenues. Sales of services increased 7.7% or $135 million primarily driven by the acquisition of Intelerad and growth in new and existing customer contractual agreements.

The segment revenues were as follows:

•AIS segment revenues were $3,771 million, growing 7.9% or $277 million as reported due to an increase in Organic revenue* and the acquisition of Intelerad. Organic revenue* grew 5.0% driven by strong growth in CardioVascular & Interventional Solutions, Computed Tomography (“CT”), and Molecular Imaging (“MI”) product lines;

•PDx segment revenues were $843 million, growing 15.6% or $114 million as reported, driven by growth in volume and price in contrast media and radiopharmaceutical products; and

•PCS segment revenues were $675 million, decreasing 13.3% or $104 million, primarily driven by operational and fulfillment challenges.

The regional revenues were as follows:

•USCAN revenues were $2,476 million, growing 5.8% or $136 million, with growth across PDx and AIS, inclusive of Intelerad revenues, partially offset by a decline in PCS revenues;

•EMEA revenues were $1,348 million, growing 6.3% or $80 million, primarily driven by growth in AIS revenues as well as favorable foreign currency impacts;

•China region revenues were $582 million, growing 3.4% or $19 million, primarily driven by favorable foreign currency impacts, partially offset by a decline in PCS revenues; and

•Rest of World revenues were $888 million, growing 6.3% or $52 million, primarily due to growth in AIS and PDx revenues.

Total revenues were $10,425 million, growing 6.6% as reported and 3.2% organically*. Sales of products increased 6.0% or $381 million primarily driven by growth in PDx and AIS revenues, as well as favorable foreign currency impacts, partially offset by declines in PCS revenues. Sales of services increased 7.6% or $260 million primarily driven by growth in new and existing customer contractual agreements and the acquisition of Intelerad, as well as favorable foreign currency impacts.

The segment revenues were as follows:

•AIS segment revenues were $7,410 million, growing 7.8% or $538 million as reported due to an increase in Organic revenue*, favorable foreign currency impacts, and the acquisition of Intelerad. Organic revenue grew 4.5% driven by strong growth in CT and CardioVascular & Interventional Solutions product lines;

•PDx segment revenues were $1,612 million, growing 18.4% or $251 million as reported, largely driven by an increase in Organic revenue* and the acquisition of Nihon Medi-Physics Co., Ltd. (“NMP”). Organic revenue* grew 12.3% driven by growth in volume and price in contrast media and radiopharmaceutical products; and

•PCS segment revenues were $1,379 million, decreasing 10.0% or $153 million, primarily driven by operational and fulfillment challenges.

The regional revenues were as follows:

•USCAN revenues were $4,838 million, growing 5.7% or $261 million, largely driven by growth across AIS, inclusive of Intelerad revenues, and PDx revenues, partially offset by a decline in PCS revenues;

•EMEA revenues were $2,688 million, growing 10.1% or $246 million with favorable foreign currency impacts as well as growth in AIS revenues;

•China region revenues were $1,149 million, decreasing 0.6% or $7 million with declines in AIS and PCS revenues largely offset by favorable foreign currency impacts as well as growth in PDx revenues; and

•Rest of World revenues were $1,751 million, growing 8.8% or $142 million with growth in AIS and PDx, inclusive of NMP revenues, as well as favorable foreign currency impacts.

OPERATING INCOME, NET INCOME ATTRIBUTABLE TO GE HEALTHCARE, ADJUSTED EBIT*, AND ADJUSTED NET INCOME*.

Operating income was $739 million, an increase of $86 million and 90 basis points as a percent of Total revenues. The increase was due to the following factors:

•Gross profit increased $195 million or 150 basis points as a percent of Total revenues primarily due to tariff refunds, a growth in sales volume, and an increase in price, partially offset by cost inflation. Cost of products sold increased $57 million, but decreased 130 basis points as a percent of Sales of products. The decrease as a percent of sales was driven primarily by tariff refunds and a growth in volume, partially offset by cost inflation and investment in design follow-through. Cost of services sold increased $35 million but decreased 170 basis points as a percent of Sales of services. The decrease as a percent of sales was driven by an increase in the pricing of our service offerings and tariff refunds, partially offset by cost inflation. Included in our total cost of revenues as part of our product investment was $139 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $128 million for the prior year comparable period; and

•Total operating expenses increased $110 million primarily due to an increase in Selling, general, and administrative (“SG&A”) expense of $89 million, primarily driven by expenses related to our recent acquisitions and increased employee benefit costs, and an increase in Research and development (“R&D”) of $21 million, due to investments including those related to recent acquisitions, partially offset by certain programs achieving development milestones resulting in costs to be reported under cost of revenues. SG&A as a percentage of Total revenues increased by 60 basis points and R&D as a percentage of Total revenues increased by 10 basis points.

Net income attributable to GE HealthCare and Net income margin were $561 million and 10.6%, an increase of $75 million and 90 basis points, respectively, primarily due to the following factors:

•Operating income increased $86 million, as discussed above;

•Non-operating benefit income decreased $28 million primarily due to lower current year amortization of postretirement benefit plan other comprehensive income;

•Other income – net increased $23 million primarily driven by an increase in Other items, net, and lower Change in fair value of assumed obligations, as disclosed in Note 16, “Supplemental Financial Information”; and

•Provision for income taxes increased $7 million primarily due to higher earnings in 2026 offset by reconciling adjustments to recorded tax account balances. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $750 million and 14.2%, an increase of $21 million, but a decrease of 40 basis points as a percent of Total revenues. The decrease as a percent of Total revenues was primarily due to cost inflation and planned investments, partially offset by a growth in sales volume. The impact of incremental year-over-year tariff expense was offset by tariff refunds relating to 2026.

Adjusted net income* was $515 million, an increase of $27 million primarily due to an increase in Adjusted EBIT*, as discussed above.

Operating income was $1,254 million, a decrease of $29 million and 110 basis points as a percent of Total revenues. The decrease was due to the following factors:

•Gross profit increased $160 million but decreased 100 basis points as a percent of Total revenues. The decrease as a percent of Total revenues was primarily due to an increase in Cost of products. Cost of products sold increased $378 million or 190 basis points as a percent of Sales of products. The increase as a percent of sales was largely driven by cost inflation, investment in design follow-through, and a now resolved PDx supplier issue, partially offset by tariff refunds. Cost of services sold increased $104 million but decreased 60 basis points as a percent of Sales of services. The decrease as a percent of sales was largely driven by an increase in pricing of our service offerings, partially offset by cost inflation, with tariff refunds offsetting the incremental year-over-year tariff expense. Included in our total cost of revenues as part of our product investment was $267 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $224 million for theprior year comparable period; and

•Total operating expenses increased $189 million, with an increase in SG&A expense of $166 million primarily driven by expenses related to recent acquisitions and foreign currency movements, and an increase in R&D investments of $23 million, primarily driven by foreign currency movements and investments including those related to recent acquisitions, partially offset by certain programs achieving development milestones resulting in costs to be reported under cost of revenues. SG&A as a percentage of Total revenues increased by 30 basis points and R&D as a percentage of Total revenues decreased by 20 basis points.

Net income attributable to GE HealthCare and Net income margin were $950 million and 9.1%, a decrease of $100 million and 160 basis points respectively, primarily due to the following factors:

•Operating income decreased $29 million, as discussed above;

•Interest and other financial charges – net decreased $14 million primarily driven by efficient management of the debt profile;

•Non-operating benefit income decreased $52 million primarily related to lower current year amortization of postretirement benefit plan other comprehensive income;

•Other income – net decreased $39 million primarily driven by the non-repeat of the prior year remeasurement of the Company’s 50% interest in NMP based on the cash consideration exchanged for acquiring the remaining 50% equity interest, partially offset by income from contract settlements in the first quarter. For additional detail refer to Note 16, “Supplemental Financial Information”; and

•Provision for income taxes decreased $3 million primarily due to reconciling adjustments to recorded tax account balances booked in the current year, and non-recurring prior year benefits from the release of foreign income tax reserves and a nontaxable remeasurement gain in connection with the NMP acquisition. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $1,440 million and 13.8%, a decrease of $3 million and 90 basis points, respectively, primarily due to a decrease in operating income, as discussed above.

Adjusted net income* was $967 million, an increase of $16 million primarily due to lower Interest and other financial charges – net.