GE 4Q’15 supplemental information • Orders & backlog by segment • Equipment orders • Equipment/service revenue by segment – 4Q’15 • Equipment/service revenue by segment – TY’15 • GE Industrial segment organic revenue growth* • GE Industrial segment organic op profit growth* • Power, Renewable Energy, & Energy Management organic op profit growth* • Oil & Gas & Healthcare organic op profit growth* • Organic revenue by segment* • Units summary – orders • Units summary – sales • Regional summary • Alstom results & EPS impact • Corporate operating profit (cost)* • Industrial segment gross margins* • Industrial segment operating profit margins* • Industrial operating profit margins* • Operating earnings & EPS* • Industrial operating EPS* • Industrial operating plus Verticals earnings & EPS* • GE effective tax rate (ex-GE Capital)* Imagination at work. • Industrial CFOA from continuing operations* • Free cash flow* • GAAP & Industrial Operating plus Verticals EPS* • GE Capital segment results • Capital Verticals results • GE Capital segment assets • GE Capital nonaccrual/net charge-offs • GE Capital funding • GE Capital leverage ratio* • GE Capital tier 1 common ratio estimate* • Capital ending net investment* • GE Capital reserves • Non-GAAP supplemental information * Non-GAAP financial measures. See the following pages for reconciliations of these measures to the most directly comparable GAAP financial measures. Also see the NonGAAP supplemental materials section for descriptions of non-GAAP financial measures and the reasons we believe that they provide useful information to investors. Orders & backlog by segment ($ in billions) 4Q'15 Orders $9.6 8.6 1.0 V% 40% 25 - TY'15 Orders $23.3 22.2 1.0 V% 14% 9 - 4Q'15 Backlog $77.1 61.6 15.5 V% 32% 5 - Renewable Energy - Core - Alstom 2.5 2.0 0.5 1 (18) - 7.5 7.0 0.5 5 (2) - 12.4 7.1 5.3 F 27 - Oil & Gas 3.3 (35) 15.1 (25) 22.9 (9) Energy Management - Core - Alstom 2.6 1.5 1.1 15 (32) - 8.8 7.7 1.1 5 (8) - 11.7 3.4 8.4 F (33)/--a) - Aviation 6.8 (16) 28.4 (4) 151.2 13 Healthcare 5.2 (4) 18.6 (3) 17.2 4 Transportation 3.2 66 7.0 (28) 22.4 6 Infrastructure - Core - Alstom $32.5 30.1 2.6 3% (5) - (5)% (7) - $314.5 285.3 29.2 Power - Core - Alstom $105.9 103.4 2.6 18% 7 - Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions (a- Core Energy Management 0%, adjusted for Digital Energy in prior year and dispositions 2 Equipment orders ($ in billions) Power - Core - Alstom 1Q'15 V% $0.9 (45)% 2Q'15 V% $1.8 40% 3Q'15 V% $1.7 13% 4Q'15 V% $5.0 58% 4.6 46% 0.4 - TY'15 $9.4 9.0 0.4 V% 24% 19% - Renewable Energy - Core - Alstom 0.8 (10) 2.0 24 1.7 2 2.3 1.9 0.4 (1) (20) - 6.9 6.5 0.4 4 (2) - Oil & Gas 2.2 (10) 2.2 (14) 1.1 (61) 1.2 (52) 6.6 (35) Energy Management - Core - Alstom 1.5 (6) 1.5 6 1.6 6 2.0 1.1 0.9 20 (34) - 6.5 5.7 0.9 7 (7) - Aviation 3.9 64 4.0 37 2.8 (58) 2.8 (36) 13.6 (18) Healthcare 2.3 (1) 2.7 (3) 2.6 (5) 3.2 (5) 10.8 (4) Transportation 0.8 (56) 0.5 (19) 0.1 (95) 2.6 F 4.0 (40) Infrastructure - Core - Alstom $12.0 (5)% $14.5 11% $11.2 (43)% $18.7 2% 17.1 (7)% 1.7 - Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions $56.5 (11)% 54.8 (14)% 1.7 3 Equipment/service revenue by segment - 4Q’15 ($ in billions) 4Q'15 Equipment $2.5 2.2 0.3 V% (17)% (25) - 4Q'15 Services $4.6 4.0 0.7 V% 18% 1 - 4Q'15 Total $7.1 6.2 0.9 V% 3% (10) - Renewable Energy - Core - Alstom 1.8 1.7 0.1 (19) (22) - 0.2 0.1 0.0 37 14 - 1.9 1.9 0.1 (16) (20) - Oil & Gas 2.1 (21) 2.2 (9) 4.4 (16) Energy Management - Core - Alstom 1.8 1.0 0.8 28 (30) - 0.6 0.4 0.1 (23) - 2.4 1.4 1.0 20 (28) - Aviation 3.2 (6) 3.5 18 6.7 5 Healthcare 3.0 (3) 2.0 (4) 5.0 (3) Transportation 1.0 17 0.6 (16) 1.6 2 2.2 $17.5 16.4 1.1 (1) (7)% (13)% - 0.1 $13.8 13.0 0.8 (1) 7% -% - 2.3 $31.4 29.4 2.0 (1) (1)% (7)% - Power - Core - Alstom Appliances & Lighting Industrial segments - Core - Alstom Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions 4 Equipment/service revenue by segment - TY’15 ($ in billions) TY'15 Equipment $8.0 7.7 0.3 V% (5)% (8) - TY'15 Services $13.5 12.8 0.7 V% 11% 5 - TY'15 Total $21.5 20.6 0.9 V% 4% - Renewable Energy - Core - Alstom 5.8 5.7 0.1 (3) (4) - 0.5 0.5 0.0 12 6 - 6.3 6.2 0.1 (2) (3) - Oil & Gas 8.3 (18) 8.1 (9) 16.5 (14) Energy Management - Core - Alstom 5.6 4.8 0.8 7 (9) - 2.0 1.9 0.1 (3) (10) - 7.6 6.6 1.0 4 (9) - Aviation 11.8 (5) 12.9 11 24.7 3 Healthcare 9.9 (4) 7.8 (3) 17.6 (4) Transportation 3.2 12 2.7 (2) 5.9 5 Appliances & Lighting 8.3 5 0.4 (3) 8.8 4 Industrial segments - Core - Alstom $60.9 59.8 1.1 (4)% (6)% - $47.9 47.1 0.8 3% 1% - $108.8 106.8 2.0 (1)% (3)% - Power - Core - Alstom Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions 5 Non-GAAP reconciliation GE Industrial segment organic revenue growth ($ in millions) 4Q'15 4Q'14 V% $31,352 $31,772 (1)% 737 707 Industrial segment revenues excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates (Non-GAAP) $30,615 $31,065 Industrial segment revenue (GAAP) Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates TY'15 $108,796 $109,727 (2,479) (1)% TY'14 V% (1)% 1,270 $111,276 $108,457 3% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions 6 Non-GAAP reconciliation GE Industrial segment organic op profit growth ($ in millions) 4Q'15 Industrial segment op profit (GAAP) Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates Industrial segment op profit excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates (Non-GAAP) 4Q'14 $5,522 $5,988 (318) 104 $5,840 $5,883 V% TY'15 TY'14 V% (8)% $17,966 $17,764 1% (799) 193 $18,766 $17,570 (1)% 7% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 7 Non-GAAP reconciliation Power, Renewable Energy, & Energy Management organic op profit growth ($ in millions) Power 4Q'15 4Q'14 Segment op profit (GAAP) Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates V% $1,628 $1,804 (10)% (74) - Segment op profit excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), & currency exchange rates (NonGAAP) $1,702 $1,804 Renewable Energy 4Q'15 4Q'14 V% $56 (80) (6)% $136 $269 (79)% 2 $268 (49)% Energy Management 4Q'15 4Q'14 V% $33 (24) $56 $113 (71)% 65 $48 17% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 8 Non-GAAP reconciliation Oil & Gas and Healthcare organic op profit growth ($ in millions) Oil & Gas 4Q'15 4Q'14 Segment op profit (GAAP) Less the effects of: Acquisitions, business dispositions (other than dispositions of businesses acquired for investment) & currency exchange rates Segment op profit excluding the effects of acquisitions, business dispositions (other than dispositions of businesses acquired for investment), currency exchange rates (Non-GAAP) $715 V% $881 (19)% (93) 9 $808 $873 (7)% Healthcare 4Q'15 4Q'14 $938 $1,020 (40) (3) $978 $1,023 V% (8)% (4)% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 9 Non-GAAP reconciliation Organic revenue by segment ($ in millions) Power Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Renewable Energy Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Oil & Gas Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Energy Management Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Aviation Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Healthcare Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Transportation Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) Appliances & Lighting Reported Revenue-a) Less Acq./Disp. & FX Organic Revenue-b) 4Q'15 4Q'14 V% TY'15 7,085 692 6,393 6,867 6,867 3% 1,938 (110) 2,048 2,319 16 2,303 (16)% 4,355 (437) 4,792 5,162 37 5,125 (16)% 2,375 866 1,509 1,978 473 1,506 20% 6,734 6,734 6,424 4 6,421 5% 4,973 (261) 5,234 5,133 34 5,100 (3)% 1,612 21 1,591 1,577 144 1,433 2% 2,282 (32) 2,314 2,310 2,310 (7)% (11)% (6)% 0% 5% 3% 11% (1)% 0% TY’14 V% 21,490 82 21,408 20,580 29 20,551 4% 6,273 (506) 6,779 6,399 51 6,348 (2)% 16,450 (1,427) 17,878 19,085 349 18,735 (14)% 7,600 459 7,141 7,319 481 6,839 4% 24,660 (1) 24,661 23,990 125 23,865 3% 17,639 (985) 18,625 18,299 90 18,210 (4)% 5,933 21 5,913 5,650 144 5,506 5% 8,751 (120) 8,871 8,404 8,404 4% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages are calculated from the underlying numbers in millions (a- GAAP (b- Non-GAAP 4% 7% (5)% 4% 3% 2% 7% 6% 10 Units summary – orders 4Q'15 Power: Gas Turbines 4Q'14 V TY'15 TY'14 V 55 41 14 116 105 11 827 1,251 (424) 2,912 3,227 (315) Aviation: CEO engines GEnx engines-a) Military engines Spares rate-b) 515 68 72 $39.0 1,568 165 63 $35.6 (1,053) (97) 9 $3.4 3,598 237 387 $38.8 4,801 200 739 $31.2 (1,203) 37 (352) $7.7 Transportation: Locomotives 1,113 284 829 1,426 1,812 (386) Renewable Energy: Wind Turbines (a - GEnx engines are a subset of CEO engines (b - Commercial spares rate in millions of dollars per day 11 Units summary – sales 4Q'15 Power: Gas Turbines 4Q'14 V TY'15 TY'14 V 28 44 (16) 107 108 (1) 847 1,081 (234) 2,860 2,879 (19) Aviation: CEO engines GEnx engines-a) Military engines Spares rate-b) 643 59 265 $37.0 658 77 264 $32.7 (15) (18) 1 $4.3 2,588 260 766 $37.1 2,571 287 1,068 $30.2 17 (27) (302) $6.9 Transportation: Locomotives 320 234 86 985 796 189 Renewable Energy: Wind Turbines (a - GEnx engines are a subset of CEO engines (b - Commercial spares rate in millions of dollars per day 12 Regional summary ($ in billions) Infrastructure Orders 4Q'15 Resource Rich-a) Asia-b) V% TY'15 Industrial Segment Revenues V% 4Q'15 V% TY'15 V% $9.7 (4)% $30.8 (15)% $8.9 (6)% $30.2 (3)% 6.7 78 15.8 19 4.0 14 12.4 7 Growth Regions $16.4 18% $46.7 (6)% $12.9 (1)% $42.6 0% Developed-c) $16.2 (9)% $59.2 (5)% $18.5 (2)% $66.2 (1)% Total $32.5 3% $105.9 (5)% $31.4 (1)% $108.8 (1)% (a- Resource Rich: Australia & New Zealand, Canada, Latin America, MENAT, Russia/CIS, & Sub-Saharan Africa (b- Asia: ASEAN, China & India (c- Developed: US, Europe, Japan, & Korea Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total 13 Alstom results and EPS impact Key metrics Financial impact ($ in millions) ($ in billions, except EPS) Orders Power Renewable Energy Grid-a) Segment orders 4Q’15 $1,030 469 1,058 $2,557 Revenue Power Renewable Energy Grid-a) Segment revenue 4Q’15 $917 87 952 $1,956 Op profit Power Renewable Energy Grid-a) Segment op profit Digital Energy Segment Alstom impact Corporate Total op profit 4Q’15 (80) (69) (5) $(154) (80) $(234) (160) $(394) Operations 4Q’15 $(0.0) Cost synergy benefits - Synergy investment - Acquisition accounting (0.2) Deal/integration costs (0.0) JV minority interest 0.0 Segment op profit $(0.2) Corporate charges − Deal costs/synergy inv. (0.1) − Acquisition accounting (0.1) Net tax benefits EPS $0.4 $- 14 (a- Includes GE’s Digital Energy business Non-GAAP reconciliation Corporate operating profit (cost) ($ in millions) 4Q'15 4Q'14 TY'15 TY'14 Gains (losses) on disposed businesses & settlements $998 $- $1,497 $91 Principal retirement plans-a) (640) (568) (2,760) (2,313) Restructuring and other charges (567) (570) (1,734) (1,788) Other Corporate costs & eliminations (464) (519) (2,111) (2,215) Total Corporate costs (continuing) (GAAP) (673) (1,657) (5,108) (6,225) Less: Non-operating pension cost (687) (528) (2,764) (2,120) 14 (1,131) (2,344) (4,105) 431 (570) (237) (1,697) ($417) ($561) Total Corporate (operating) (Non-GAAP) Less: restructuring & other, gains Adjusted Total Corporate (operating) (Non-GAAP) ($2,107) ($2,408) Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total (a - includes non-operating pension 15 Non-GAAP reconciliation Industrial segment gross margins ($ in millions) 4Q'15 4Q'14 $31,352 $31,772 194 1,953 199 - 732 1,953 652 - Industrial segment sales ex. Alstom (Non-GAAP) 29,205 31,573 106,111 109,075 Less: Industrial segment cost of goods sold Plus: Alstom cost of goods sold 22,516 1,730 22,829 - 78,802 1,730 80,101 - 8,418 8,745 29,039 28,974 28.8% 27.7% 27.4% Industrial segment revenue Less: Industrial segment other income Less: Alstom sales Industrial segment gross margin ex. Alstom (NonGAAP) Industrial segment op profit margin ex. Alstom (Non-GAAP) Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total TY'15 TY'14 $108,796 $109,727 x 26.6% 16 Non-GAAP reconciliation Industrial segment operating profit margins ($ in millions) 4Q'15 4Q'14 $31,352 $31,772 1,956 - 1,956 - 29,396 31,772 106,840 109,727 Industrial segment op profit-a) 5,522 5,988 17,966 17,764 Less: Alstom segment op profit (154) - (154) - 5,676 5,988 18,121 17,764 19.3% 18.8% 17.0% 16.2% Industrial segment revenue-a) Less: Alstom revenue Industrial segment revenue ex. Alstom (Non-GAAP) Industrial segment op profit ex. Alstom (Non-GAAP) Industrial segment op profit margin ex. Alstom (Non-GAAP) TY'15 TY'14 $108,796 $109,727 Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total. (a- Total Industrial segment revenue and op profit include the sum of our Industrial reporting segments without giving effect to the elimination of transactions among such segments. 17 Non-GAAP reconciliation Industrial operating profit margins ($ in millions) Industrial segment revenue-a) Plus: Corporate revenue ex. gains Less: GE-Capital eliminations Industrial revenue Less: Alstom revenue Industrial revenue ex. Alstom (Non-GAAP) Industrial segment op profit-a) Plus: Corporate operating earnings Less: Gains and restructuring Industrial OP profit (Non-GAAP) Less: Alstom segment op profit Industrial op profit ex. Alstom (Non-GAAP) Industrial op profit margin ex. Alstom (Non-GAAP) 4Q'15 4Q'14 TY'15 TY'14 $31,352 $31,772 (1,043) (1,279) (3,709) (3,954) (450) (571) (1,786) (2,151) 30,759 31,064 106,874 107,924 1,956 - 1,956 - 28,802 31,064 104,917 107,924 5,522 5,988 17,966 17,764 14 (1,131) (2,344) (4,105) 431 (570) (237) (1,697) 5,105 5,429 15,858 15,356 (154) - (154) - 5,259 5,429 16,012 15,356 18.3% 17.5% 15.3% 14.2% $108,796 $109,727 Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total. (a- Total Industrial segment revenue and op profit include the sum of our Industrial reporting segments without giving effect to the elimination of transactions among such segments. 18 Non-GAAP reconciliation Operating earnings & EPS ($ in millions except earnings per share) Earnings from continuing operations attributable to common shareholders (GAAP) Adjustment (net of tax): non-operating pensions costs/(income) Operating earnings (Non-GAAP) 4Q'15 4Q'14 $2,567 $3,589 (28)% 447 V% 343 $3,014 $3,932 (23)% Continuing earnings per share (GAAP) $0.26 $0.35 (26)% Adjustment (net of tax): non-operating pensions costs/(income) 0.05 TY'15 TY'14 $1,663 $9,535 1,797 1,378 $3,460 $10,913 V% (83)% (68)% Earnings per share - diluted-a) Operating earnings per share (Non-GAAP) $0.31 0.03 $0.39 (21)% $0.17 $0.94 0.18 0.14 $0.35 $1.08 (82)% (68)% (a - Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total 19 Non-GAAP reconciliation Industrial operating EPS ($ in millions except earnings per share) 4Q'15 4Q'14 Operating earnings (Non-GAAP) $3,014 $3,932 GE Capital operating earnings (Non-GAAP) (1,615) 187 Industrial operating earnings (Non-GAAP) 4,629 Operating earnings per share (Non-GAAP) V% TY'15 TY'14 V% (68)% (23)% $3,460 $10,913 U (7,983) 1,209 U 3,745 24% 11,443 9,705 18% $0.31 $0.39 (21)% $0.35 $1.08 (68)% GE Capital operating EPS (Non-GAAP)-a) (0.16) 0.02 U (0.80) 0.12 U Industrial operating EPS (Non-GAAP)-a) 0.47 0.37 27% 1.14 0.96 19% (a- Earnings per share amounts are calculated as percent of operating earnings. Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total. 20 Non-GAAP reconciliation Industrial operating plus Verticals earnings & EPS ($ in millions except earnings per share) 4Q'15 4Q'14 3,014 3,932 (2,053) (221) Industrial operating plus Verticals earnings (Non-GAAP) Verticals earnings (Non-GAAP) Industrial operating earnings (Non-GAAP) 5,067 438 4,629 4,153 408 3,745 Earnings per share – diluted-a) Operating earnings per share (Non-GAAP) 0.31 0.39 Less: Other GE Capital (Non-GAAP) (0.21) (0.02) Industrial operating plus Verticals EPS (Non-GAAP) 0.52 0.41 Verticals operating EPS (Non-GAAP) Industrial operating EPS (Non-GAAP) 0.04 0.47 0.04 0.37 Operating earnings (Non-GAAP) Less: Other GE Capital (Non-GAAP) V% TY’14 V% 3,460 10,913 (68)% (9,649) (399) 22% 7% 24% 13,109 1,666 11,443 11,313 1,608 9,705 16% 4% 18% (21)% 0.35 1.08 (68)% (0.96) (0.04) 27% 1.31 1.12 17% 27% 0.17 1.14 0.16 0.96 6% 19% (23)% TY’15 (a- Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total. 21 Non-GAAP reconciliation GE effective tax rate (ex. GE Capital) ($ in millions) 4Q'15 $2,892 4Q'14 $4,181 ($1,465) $348 ($7,672) $1,532 $18 - $18 - Adjusted earnings from continuing ops. before income taxes (Non-GAAP) $4,339 $3,833 $10,906 $9,587 GE (ex. GE Capital) provision for income taxes - continuing ops. $204 $492 $1,506 $1,634 5% 13% 14% 17% GE earnings from continuing operations before income taxes (GAAP) Less GE Capital earnings from continuing ops. attributable to the company Less GE preferred dividend Effective tax rate GE (ex. GE Capital) (Non-GAAP) TY’15 TY’14 $3,252 $11,119 22 Non-GAAP reconciliation Industrial CFOA from continuing operations ($ in millions) Cash from GE’s operating activities as reported (GAAP) Less: GE Capital dividends Cash from GE's operating activities excluding dividends from GE Capital (Industrial CFOA) (Non-GAAP) Less: Alstom CFOA & Signaling deal taxes Industrial CFOA ex. Alstom (Non-GAAP) 4Q'15 4Q'14 V% $9,828 $7,996 23% 3,850 779 $5,978 $7,217 (498) - $6,476 $7,217 TY’15 8% 3,000 $12,054 $12,171 (498) (10)% V% $16,354 $15,171 4,300 (17)% TY’14 (1)% - $12,551 $12,171 3% Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total 23 Free cash flow Non-GAAP reconciliation ($ in millions) TY’15 Cash from GE's operating activities as reported (GAAP) TY’14 V% $16,354 $15,171 3,785 939 3,970 615 Free cash flow (Non-GAAP) $13,507 $11,815 Less: GE Capital dividends 4,300 3,000 $9,207 $8,815 (498) (77) - Adjusted Industrial free cash flow (Non-GAAP) $9,782 $8,815 Industrial operating earnings (Non-GAAP) 11,443 9,705 85% 91% Less: Additions to property, plant and equipment Plus: Dispositions of property, plant and equipment Industrial free cash flow (Non-GAAP) Less: Alstom CFOA and Signaling deal taxes Less: Alstom additions to PP&E, net of dispositions Adjusted Industrial FCF conversion (Non-GAAP) 8% 14% 4% 11% Note: Individual amounts are rounded. As a result, the sum of the parts presented may not add to the total 24 Non-GAAP reconciliation GAAP & Industrial Operating plus Verticals EPS 4Q’15 4Q’14 2015 Industrial Industrial Capital Industrial Capital 2014 Industrial Capital Capital 1.14 .96 .47 .37 .04 (.05) (.21) (.18) .04 (.03) Earnings per share -a) (.02) .17 (.14) .16 (.04) (.96) 4Q’15 4Q’14 Earnings per share -a) 2015 2014 Industrial Operating plus Verticals $.52 $.41 Industrial Operating plus Verticals $1.31 $1.12 Non-operating & other GE Capital (.25) (.06) Non-operating & other GE Capital (1.14) (.18) GAAP continuing EPS $.26 $.35 GAAP continuing EPS $.94 $.17 Industrial Operating & Verticals Non-operating pension & other GE Capital (a- Earnings per share amounts are computed independently. As a result, the sum of per share amounts may not equal the total. 25 GE Capital segment results ($ in millions – net earnings) 4Q’15 4Q’14 V% CLL $145 $113 28% EFS (19) 112 U GECAS 354 217 63 (1,927) (94) U $(1,447) $348 U (169) (161) (5) $(1,615) $187 U 3,722 1,564 F $2,107 $1,751 20% GE Capital Corporate Earnings from continuing ops. Preferred stock dividends Capital segment profit Earnings from discontinued ops. Total GE Capital net earnings Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 26 Capital – Verticals results ($ in millions – net earnings) 4Q’15 GECAS 4Q’14 V% $354 $217 63% EFS (19) 112 U Other-a) 127 137 (7) Allocated corporate costs-b) (25) (58) 57 $438 $408 7% (2,053) (221) U $(1,615) $187 U Verticals Other continuing operations Capital segment profit (a- Includes Industrial Finance & run-off Insurance (b- Revised estimate for allocated corporate costs Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 27 GE Capital segment assets ($ in billions) 4Q’15 4Q’14 CLL $23.6 $21.7 9% EFS 13.2 15.5 (14) GECAS 46.7 42.6 9 112.3 99.9 12 $195.7 $179.7 9% 120.9 323.5 (63) $316.7 $503.2 (37)% GE Capital Corporate Capital segment assets Assets of discontinued operations Total GE Capital assets V% Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 28 GE Capital nonaccrual/net charge-offs -a) ($ in millions) Nonaccrual assets/nonaccrual % fin. rec. CLL GECAS EFS Corporate/HQ GE Capital Total net charge-offs/net charge-offs % fin. rec. 4Q’15 3Q’15 4Q’14 $25 $27 $25 0.17% 0.20% 179 195 419 2.45 2.64 5.07 53 82 68 2.15 3.36 2.64 - - - - - - $256 1.02% $304 1.28% 4Q’15 CLL 0.17% $512 1.99% $8 0.23% GECAS EFS Corporate/HQ GE Capital 3Q’15 4Q’14 $2 0.06% $2 0.06% (4) (2) (1) (0.22) (0.11) (0.05) 9 8 (4) 1.47 1.22 (0.60) (1) - - (0.80) - - $12 0.20% $8 0.14% $(3) (0.05)% (a - Real Estate, the majority of CLL, and Consumer have been classified as discontinued operations. As a result, prior periods have been recasted accordingly. Note: Certain columns and rows may not add due to the use of rounded numbers. Percentages presented are calculated from the underlying numbers in millions. 29 GE Capital funding ($ in billions) Debt composition –a) Non-recourse Securitization Unsecured term issuances $32 $246 4 $199 3 $181-c) 178 169 5 13 4 5 3 $10 $8 '14 '15 203 LT debt -b) Alternative funding/other Comm’l. paper 14 25 4Q'14 Bank lines Liquidity -e) LT debt <1yr. $44 $76 $37 3Q'15 4Q'15 $45 $97 $30 $46-d) $91 $43 '13 • Completed $8B of LT debt issuance in 1Q’15 in 3 currencies • No incremental LT debt issuance in line with April 10th announcement • Met $5B CP target by Dec’15 • Strong liquidity position (a - Continuing operations (excludes obligations issued to third parties that we reported in Discontinued operations or Held-for-Sale) (b – Includes $85B of GE Capital debt assumed by GE Company and maintained as intercompany debt as of 4Q’15 (c - Includes ~$(8.9)B YTD FX impact and ~$(1.0)B YTD FAS 133 (d - Bank lines maintained at GE Company as of Dec ‘15 but can be drawn and lent to GE Capital upon request (e - Liquidity includes cash & equivalents (including discontinued operations and held for sale balances); 4Q15 includes $10.4B of high quality interest bearing deposits 30 Non-GAAP reconciliation -a) GE Capital leverage ratio ($ in billions) As reported Debt Equity-b) Leverage ratio (GAAP) Debt Less: Liquidity-c) Adjusted debt Equity-b) Adjusted leverage ratio (Non-GAAP) 4Q’15 3Q’15 4Q’14 $211.9 46.2 $299.5 68.2 $351.9 87.5 4.6 4.4 4.0 211.9 (90.9) $121.0 299.5 (97.0) $202.5 351.9 (76.4) $275.5 46.2 68.2 87.5 2.6 3.0 3.1 (a - Includes discontinued operations and balances recorded as held for sale for all periods (b - Total equity ex-non-controlling interests (c - Liquidity includes cash & equivalents (including discontinued operations and held for sale balances) and $10.4B of high quality interest bearing deposits 31 Non-GAAP reconciliation GE Capital tier 1 common ratio estimate-a) ($ in billions) 4Q’15 3Q’15 4Q’14 $46.2 $68.2 $87.5 (5.0) (5.2) 0.3 (4.9) (15.5) 1.1 (4.9) (25.6) 1.0 36.4 48.9 58.0 Estimated risk weighted assets 251.1 356.7 445.9 Tier 1 common ratio (Non-GAAP) 14.5% 13.7% 13.0% Tangible Common Equity/Tangible Assets (Non-GAAP) 11.5% 11.2% 11.9% As reported Shareowners' equity–b) (GAAP) - Preferred equity - G/W & Intangibles - Other additions/(deductions) Tier 1 common (a - Based on Basel 3 standardized approach on a transitional basis; includes discontinued operations for all periods (b - Total equity ex-non-controlling interests 32 Non-GAAP reconciliation Capital ending net investment ($ in billions) 4Q’15 3Q’15-a) 2Q’15-a) 1Q’15-a) 4Q’14-a) GE Capital total assets (GAAP) $316.7 $433.8 $463.3 $476.5 $500.2 Less: assets of discontinued operations-b) (120.9) (121.9) (154.9) (31.3) (1.2) Less: non-interest bearing liabilities & others (43.3) (50.3) (51.2) (66.0) (60.5) Capital ENI (Continuing operations) 152.4 261.6 257.2 379.2 438.5 Less: Liquidity-c) (70.5) (85.5) (77.9) (76.4) (75.5) Continuing ENI (ex-Liquidity) (Non-GAAP) $81.9 $ 176.1 $179.3 $302.8 $363.0 Memo: Total ENI (ex-Liquidity) incl. disc ops (Non-GAAP) $166.9 $270.6 $309.0 $331.4 $362.9 (a - As originally reported (b – Real Estate, majority of Commercial Lending & Leasing, and Consumer segments moved to discontinued operations during 1Q’15, 2Q’15, and 4Q’15 respectively (c - Liquidity includes cash & equivalents from continuing operations (excluding held for sale balances) and $10.4B of high quality interest bearing deposits 33 GE Capital reserves–a) ($ in billions) Allowances for losses Commercial Coverage: Reserves Nonaccrual 0.1 0.1 0.1 4Q'14 3Q'15 4Q'15 0.36% 18.16% 0.36% 27.96% 0.32% 31.64% (a - Real Estate, the majority of CLL, and Consumer have been classified as discontinued operations. As a result, prior periods have been recasted accordingly 34 Non-GAAP supplemental information In an effort to provide investors with additional information regarding the company’s results as determined by generally accepted accounting principles (GAAP), the company also discusses, in its earnings press release and earnings presentation materials, the following Non-GAAP information which management believes provides useful information to investors. Operating and non-operating pension costs We have provided the operating and non-operating components of cost for our principal pension plans. Operating pension costs comprise the service cost of benefits earned, prior service cost amortization and curtailment loss for our principal pension plans. Non-operating pension costs comprise the expected return on plan assets, interest cost on benefit obligations and net actuarial loss amortization for our principal pension plans. We believe that the operating components of pension costs better reflects the ongoing service-related costs of providing pension benefits to our employees. We believe that the operating and non-operating components of cost for our principal pension plans, considered along with the corresponding GAAP measure, provide management and investors with additional information for comparison of our pension plan costs and operating results with the pension plan costs and operating results of other companies. Adjusted corporate costs (operating) Operating corporate costs exclude non-service-related pension costs of our principal pension plans, which comprise interest costs, expected return on plan assets and amortization of actuarial gains/losses. Service cost, prior service cost and curtailment loss components of our principal pension plans are included in operating corporate costs. We believe that these components of pension cost better reflect the ongoing service-related costs of providing pension benefits to our employees. Accordingly, we believe that our measure of operating corporate costs provides management and investors with a useful measure of the operational costs incurred outside of our businesses. We believe that this measure, considered along with the corresponding GAAP measure, provides management and investors with additional information for comparison of our operating corporate costs to the operating corporate costs of other companies. We also believe that adjusting operating corporate costs to exclude the effects of items that are not closely associated with ongoing corporate operations, such as earnings of previously divested businesses, gains and losses on disposed and held for sale businesses, and restructuring and other charges, provides management and investors with a meaningful measure that increases the period-to-period comparability of our ongoing corporate costs. 35 Non-GAAP supplemental information Industrial Segment Organic Revenue Growth Organic revenue growth measures revenue excluding the effects of acquisitions, business dispositions and currency exchange rates. We believe that this measure provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and currency exchange, which activities are subject to volatility and can obscure underlying trends. We also believe that presenting organic revenue growth separately for our industrial businesses provides management and investors with useful information about the trends of our industrial businesses and enables a more direct comparison to other non-financial businesses and companies. Management recognizes that the term "organic revenue growth" may be interpreted differently by other companies and under different circumstances. Although this may have an effect on comparability of absolute percentage growth from company to company, we believe that these measures are useful in assessing trends of the respective businesses or companies and may therefore be a useful tool in assessing period-to-period performance trends. Industrial Segment Organic Operating Profit Growth Operating profit growth measures profit excluding the effects of acquisitions, business dispositions and currency exchange rates. We believe that this measure provides management and investors with a more complete understanding of underlying operating results and trends of established, ongoing operations by excluding the effect of acquisitions, dispositions and currency exchange, which activities are subject to volatility and can obscure underlying trends. Management recognizes that the term “organic operating profit growth” may be interpreted differently by other companies and under different circumstances. Although this may have an effect on comparability of absolute percentage growth from company to company, we believe that these measures are useful in assessing trends of the respective businesses or companies and may therefore be a useful tool in assessing period-to-period performance trends. 36 Non-GAAP supplemental information Industrial Cash Flows from Operating Activities (Industrial CFOA) We define “Industrial CFOA” as GE’s cash from operating activities (continuing operations) less the amount of dividends received by GE from GE Capital. This includes the effects of intercompany transactions, including GE customer receivables sold to GE Capital; GE Capital services for trade receivables management and material procurement; buildings and equipment leased by GE from GE Capital; information technology (IT) and other services sold to GE Capital by GE; aircraft engines manufactured by GE that are installed on aircraft purchased by GE Capital from third-party producers for lease to others; and various investments, loans and allocations of GE corporate overhead costs. We believe that investors may find it useful to compare GE’s operating cash flows without the effect of GE Capital dividends, since these dividends are not representative of the operating cash flows of our industrial businesses and can vary from period to period based upon the results of the financial services businesses. Management recognizes that this measure may not be comparable to cash flow results of companies which contain both industrial and financial services businesses, but believes that this comparison is aided by the provision of additional information about the amounts of dividends paid by our financial services business and the separate presentation in our financial statements of the GE Capital cash flows. We believe that our measure of Industrial CFOA provides management and investors with a useful measure to compare the capacity of our industrial operations to generate operating cash flow with the operating cash flow of other non-financial businesses and companies and as such provides a useful measure to supplement the reported GAAP CFOA measure. Free cash flow We define free cash flow as GE’s cash from operating activities (continuing operations) less GE additions to property, plant and equipment, which are included in cash flows from investing activities. We believe that free cash flow is a useful financial metric to assess our ability to pursue opportunities to enhance our growth. We also believe that presenting free cash flow separately for our industrial businesses provides management and investors with useful information about the trends of our industrial businesses and enables a more direct comparison to other non-financial businesses and companies. Management recognizes that the term free cash flow may be interpreted differently by other companies and under different circumstances. Although this may have an effect on comparability of absolute percentage growth from company to company, we believe that these measures are useful in assessing trends of the respective businesses or companies and may therefore be a useful tool in assessing period-to-period performance trends. 37 Non-GAAP supplemental information Industrial operating earnings and EPS and GE Capital operating earnings (loss) and EPS Operating earnings (loss) excludes non-service related pension costs of our principal pension plans comprising interest cost, expected return on plan assets and amortization of actuarial gains/losses. The service cost, prior service cost and curtailment loss components of our principal pension plans are included in operating earnings. We believe that these components of pension cost better reflect the ongoing service-related costs of providing pension benefits to our employees. As such, we believe that our measure of operating earnings (loss) provides management and investors with a useful measure of the operational results of our business. Other components of GAAP pension cost are mainly driven by capital allocation decisions and market performance, and we manage these separately from the operational performance of our businesses. Neither GAAP nor operating pension costs are necessarily indicative of the current or future cash flow requirements related to our pension plan. We also believe that this measure, considered along with the corresponding GAAP measure, provides management and investors with additional information for comparison of our operating results to the operating results of other companies. We believe that presenting operating earnings and operating EPS separately for our industrial and financial services businesses also provides management and investors with useful information about the relative size of our industrial and financial services businesses in relation to the total company. GE Industrial Operating + Verticals EPS As described above, Verticals represents the GE Capital businesses that we expect to retain. We believe that presenting Industrial operating + Vertical earnings-per-share amounts provides management and investors with a useful measure to evaluate the performance of the businesses we expect to retain after the disposition of most of our financial services business. 38 Non-GAAP supplemental information GE Capital Ending Net Investment (ENI), excluding liquidity We use ENI to measure the size of our Capital segment. We believe that this measure is a useful indicator of the capital (debt or equity) required to fund a business as it adjusts for non-interest bearing current liabilities generated in the normal course of business that do not require a capital outlay. We also believe that by excluding liquidity, we provide a meaningful measure of assets requiring capital to fund our Capital segment as a substantial amount of liquidity resulted from debt issuances to prefund future debt maturities and will not be used to fund additional assets. Liquidity consists of cash and equivalents and certain high quality interest bearing deposits of the U.S. Treasury. As a general matter, investments included in liquidity are expected to be highly liquid, giving us the ability to readily convert them to cash. Providing this measure will help investors measure how we are performing against our previously communicated goal to reduce the size of our financial services segment. GE Capital Tier 1 Common Ratio Estimate The GE Capital Tier 1 common ratio estimate is the ratio of Tier 1 common equity to total risk-weighted assets as calculated based on our interpretation of the standardized U.S. Basel 3 capital rules on a transitional basis, which is subject to review and consultation with our regulators. As such, the methodology of calculating this ratio may be refined over time as we discuss its interpretation and application with our regulators. As of December 31, 2015, we are not required by our regulators to disclose this capital ratio, and therefore this capital ratio is considered a non-GAAP financial measure. We believe that this estimated capital ratio is a useful measure to investors because it is widely used by analysts and regulators to assess the capital position of financial services companies. 39