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 $5,513 million, growing 7.2% as reported and 6.2% organically*. Sales of products increased 6.7% or $227 million primarily driven by strong growth across all segments. Sales of services increased 8.1% or $142 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 $3,873 million, growing 6.1% or $224 million as reported due to an increase in Organic revenue* and the acquisition of Intelerad. Organic revenue* grew 4.5% driven by strong growth in the Computed Tomography (“CT”), CardioVascular & Interventional Solutions (“CVIS”), and Surgical Innovations product lines;

•PDx segment revenues were $846 million, growing 13.0% or $97 million as reported, driven by contrast media and radiopharmaceutical volume, and price; and

•PCS segment revenues were $793 million, growing 8.5% or $62 million, primarily driven by improved product fulfillment in Monitoring and Maternal Infant Care.

The regional revenues were as follows:

•USCAN revenues were $2,672 million, growing 13.3% or $314 million, with growth across all segments, inclusive of Intelerad revenues;

•EMEA revenues were $1,354 million, decreasing 0.4% or $6 million, primarily driven by unfavorable foreign currency impacts partially offset by growth in AIS revenues;

•China region revenues were $586 million, growing 7.1% or $39 million, primarily driven by favorable foreign currency impacts and growth in AIS revenues; and

•Rest of World revenues were $901 million, growing 2.6% or $23 million, primarily due to growth in AIS revenues partially offset by unfavorable foreign currency impacts.

Total revenues were $15,939 million, growing 6.8% as reported and 4.2% organically*. Sales of products increased 6.2% or $609 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 7.8% or $402 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 $11,284 million, growing 7.2% or $762 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 the CT and CVIS product lines;

•PDx segment revenues were $2,458 million, growing 16.5% or $348 million as reported, largely driven by an increase in Organic revenue* and the acquisition of Nihon Medi-Physics Co., Ltd. (“NMP”). Organic revenue* grew 12.8% driven by volume and price in contrast media and radiopharmaceutical products; and

•PCS segment revenues were $2,171 million, decreasing 4.0% or $91 million, primarily driven by operational and fulfillment challenges.

The regional revenues were as follows:

•USCAN revenues were $7,509 million, growing 8.3% or $575 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 $4,042 million, growing 6.3% or $240 million with favorable foreign currency impacts as well as growth in AIS revenues;

•China region revenues were $1,735 million, growing 1.8% or $31 million with favorable foreign currency impacts, and growth in PDx revenues, partially offset by a decline in AIS and PCS revenues; and

•Rest of World revenues were $2,652 million, growing 6.6% or $165 million largely driven by growth in AIS and PDx, inclusive of NMP revenues, partially offset by unfavorable foreign currency impacts.

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

Operating income was $805 million, an increase of $152 million and 190 basis points as a percent of Total revenues. The increase was due to the following factors:

•Gross profit increased $234 million or 170 basis points as a percent of Total revenues primarily due to growth in sales volume, an increase in price, and a reduction in tariff expenses, partially offset by cost inflation. Cost of products sold increased $103 million, but decreased 140 basis points as a percent of Sales of products. The decrease as a percent of sales was driven primarily by growth in volume, an increase in pricing of our product offerings, and a reduction in tariff expenses, partially offset by cost inflation. Cost of services sold increased $33 million but decreased 200 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 a reduction in tariff expenses, partially offset by cost inflation. Included in our total cost of revenues as part of our product investment was $141 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $134 million for the prior year comparable period; and

•Total operating expenses increased $82 million due to an increase in Selling, general, and administrative (“SG&A”) expense of $54 million, primarily driven by expenses related to our recent acquisitions, commercial investments, and inflation, partially offset by cost productivity and an increase in Research and development (“R&D”) of $28 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 decreased by 40 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 $615 million and 11.1%, an increase of $169 million and 250 basis points, respectively, primarily due to the following factors:

•Operating income increased $152 million, as discussed above;

•Non-operating benefit income decreased $24 million primarily due to lower current year amortization of postretirement benefit plan other comprehensive income;

•Other income – net decreased $7 million primarily driven by a decrease in Other items, net, and a decrease in Net financing income and investment income (loss), as disclosed in Note 16, “Supplemental Financial Information”; and

•Provision for income taxes decreased $50 million primarily due to current year foreign income tax reserve releases, and changes in reconciling adjustments to recorded tax account balances, partially offset by a foreign tax audit settlement in 2026. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $913 million and 16.6%, an increase of $151 million and 180 basis points, respectively, primarily due to growth in sales volume, an increase in pricing of our product and service offerings, cost productivity, and a reduction in tariff expenses, partially offset by inflation and planned investments.

Adjusted net income* was $608 million, an increase of $118 million primarily due to an increase in Adjusted EBIT*, as discussed above.

Operating income was $2,058 million, an increase of $123 million but a decrease of 10 basis points as a percent of Total revenues. The increase was due to the following factors:

•Gross profit increased $394 million but decreased 10 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 $481 million or 80 basis points as a percent of Sales of products. The increase as a percent of sales was largely driven by cost inflation, and an increase in tariff expenses, partially offset by an increase in pricing of our product and service offerings, growth in sales volume, and tariff refunds. Cost of services sold increased $137 million but decreased 110 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. Included in our total cost of revenues as part of our product investment was $408 million in engineering costs for design follow-through on new product introductions and product lifecycle maintenance subsequent to the initial product launch, compared to $357 million for the prior year comparable period; and

•Total operating expenses increased $271 million, with an increase in SG&A expense of $220 million primarily driven by expenses related to recent acquisitions, foreign currency movements, commercial investments, increased employee benefit costs, and an increase in R&D investments of $51 million, primarily driven by foreign currency movements and planned 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 10 basis points and R&D as a percentage of Total revenues decreased by 10 basis points.

Net income attributable to GE HealthCare and Net income margin were $1,564 million and 9.8%, an increase of $69 million but a decrease of 20 basis points respectively, primarily due to the following factors:

•Operating income increased $123 million, as discussed above;

•Interest and other financial charges – net decreased $2 million primarily driven by efficient management of the debt profile;

•Non-operating benefit income decreased $76 million primarily related to lower current year amortization of postretirement benefit plan other comprehensive income;

•Other income – net decreased $47 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 Other items, net as disclosed in Note 16, “Supplemental Financial Information”; and

•Provision for income taxes decreased $53 million primarily due to a year-over-year increase in reconciling adjustments to recorded tax account balances and current year foreign income tax reserve releases, and impacts from prior year U.S. and foreign tax law changes, partially offset by a current year foreign tax audit settlement and a nontaxable remeasurement gain in connection with the NMP acquisition in the prior year. For additional detail regarding our income taxes, see Note 10, “Income Taxes.”

Adjusted EBIT* and Adjusted EBIT margin* were $2,353 million and 14.8%, an increase of $148 million and flat to prior year, respectively, primarily due to an increase in operating income, as discussed above.

Adjusted net income* was $1,575 million, an increase of $134 million primarily due to an increase in Adjusted EBIT*, as discussed above.