GE Capital J.P. Morgan Aviation, Transportation & Industrials Conference March 13, 2017 Caution Concerning Forward-Looking Statements: This document contains "forward-looking statements" – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see http://www.ge.com/investor-relations/disclaimer-caution-concerning-forward-looking-statements as well as our annual reports on Form 10-K and quarterly reports on Form 10-Q. We do not undertake to update our forward-looking statements. This document also includes certain forward-looking projected financial information that is based on current estimates and forecasts. Actual results could differ materially. Non-GAAP Financial Measures: In this document, we sometimes use information derived from consolidated financial data but not presented in our financial statements prepared in accordance with U.S. generally accepted accounting principles (GAAP). Certain of these data are considered “non-GAAP financial measures” under the U.S. Securities and Exchange Commission rules. These non-GAAP financial measures supplement our GAAP disclosures and should not be considered an alternative to the GAAP measure. The reasons we use these non-GAAP financial measures and the reconciliations to their most directly comparable GAAP financial measures are posted to the investor relations section of our website at www.ge.com. General Electric Capital Corporation (GECC) has been merged into GE and our financial services business is now operated by GE Capital Global Holdings LLC (GECGH). In this document, we refer to GECC and GECGH as “GE Capital”. We refer to the industrial businesses of the Company including GE Capital on an equity basis as “GE”. “GE (ex-GE Capital)” and /or “Industrial” refer to GE excluding GE Capital. Our financial services segment previously referred to as GE Capital is now referred to as Capital. GE’s Investor Relations website at www.ge.com/investor and our corporate blog at www.gereports.com, as well as GE’s Facebook page and Twitter accounts, contain a significant amount of information about GE, including financial and other information for investors. GE encourages investors to visit these websites from time to time, as information is updated and new information is posted. Key highlights • GE Capital exit plan essentially complete one year ahead of plan … $192B deals closed, SIFI rescission, PRA exit in 1H’17; winding down remaining operations • $47B dividends to GE since April 2015 (incl. SYF) from GE Capital wind-down and momentum carrying into 2017 … $6-7B TY target, $2B paid in 1Q • “New” GE Capital more aligned to GE Industrials … enabled $13B of industrial orders in ‘16; growing capital markets capabilities to support growth • Go-forward businesses provide stable financial profile … earnings to provide consistent dividend flows to GE Delivering on GE Capital exit plan GE Capital exit plan Deal Activity Deal Pricing Dividends $206B ~$14B to go ~$47B $8B Cash ~$27B Closings Dividends (Based on ~$192B 1.1x 4Q’14 ENI) $47B Synchrony ~$20B split Since 4/15/15 To date Signings & closings virtually Delivered on 1.1X $47B of capital returned to complete 1 year early P/TBV multiple date … $51B+ by YE’17 Trailing assets expected to Hubble costs below Ahead of plan … capital largely run off by 2018 $23B original estimate levels remain conservative GE Capital: Provide financial and intellectual capital to GE and its customers POWER ENERGY AVIATION CONNECTIONS • Drive 1-2% organic growth for GE GE CAPITAL GE DIGITAL CULTURE & • Deliver earnings at good returns SIMPLIFICATION RENEWABLE HEALTHCARE ENERGY GLOBAL GROWTH GLOBAL ORGANIZATION RESEARCH GLOBAL • Manage available capital efficiently OPERATIONS LIGHTING OIL & GAS We’re the Capital in the GE Store TRANSPORTATION GE Capital Today: AVIATION FINANCE … #1 global aircraft lessor + with ~85% of fleet powered by GE/CFM engines ~$80B ENI $1.9B (ex liquidity) ’16 earnings ENERGY FINANCE … focused on GE pull thru + by providing custom solutions ~13% ROTE% Global (ex Insurance) Capital + INDUSTRIAL FINANCE … Exclusive financing Markets solutions for GE customers Capability Diverse product offering, deep Industry knowledge and Global reach GE Capital Aviation Services Business Overview GE Store in action New product campaigns, 50 years in aviation finance … NEW customer conversions industry leader Large & diverse aircraft asset ~85% of fleet powered by GE/CFM base … ~$41B balance sheet, ~2,000 assets Strong & complementary customer relationships Broad product offerings Deep and global market GE Aviation and GECAS … presence unparalleled industry expertise GE Store in action … GE Capital Aviation Services OPPORTUNITY • AirAsia: Malaysian airline, named the “world's best low-cost airline”-a) … 5 operates flights to 100 destinations in 22 countries Airbus • Airbus’ largest A320neo family airline customer … 404 aircraft on order A320neo RESULT … powered by • GECAS delivered it’s first Airbus A320neo to AirAsia as part of 5x CFM LEAP engines A320NEOs financing … all powered by CFM LEAP engines • GECAS helped move AirAsia toward greater GE engine commonality (a- Source: Skytrax, World Airline Awards, 2016 GE Energy Financial Services Business Overview GE Store in action 90% of investment activities Strong origination across the aligned with GE globe…dedicated teams in 16 countries Integrated into industrial deal cycle … delivering incremental orders Investments across the capital structure Deep market knowledge and credibility … more than just capital Diversified product offerings Extensive global capital advisory capabilities; relationships with ECAs, DFIs and other investors GE Store in action … Energy Financial Services OPPORTUNITY • Fast track capacity auction for generation coming online in 2017-2018 7 Projects • GE co-investing equity & providing debt financing in order to increase GE 896-MW Gas Power Systems market share in Argentina RESULT Argentina • Won ~50% of 1.7-GW awarded on new equipment … represents significant Fast Power equipment orders for the region • GE equipment included 6 x LM6000’s, 4 x TM’s, 2 x LMS100’s, & 1 x 9F.04 Industrial Finance Business Overview GE Store in action Adding capabilities to cover all GE segments … Transportation, Financing capabilities in 50+ Additive, Current, etc. countries Expanding Healthcare Financing solutions globally Diverse product and financing offerings Direct origination model with customer access Enables orders and cash flow solutions for GE Company Partnering with Industrials to help optimize working capital for GE GE Store in action … Industrial Finance OPPORTUNITY Largest railway-logistics LATAM company in market segment Partnered with GE Transportation to develop unique technology and 16 first-of-its-kind locomotive financing solution in Brazil GE DASH9BB RESULT LOCOMOTIVES Customer acquired 16 GE Dash9BB locomotives Customer upgraded equipment in slow to flat growth environment Capital Markets access Building strong capital markets capabilities globally Enabled orders / GE Equip. orders $13B ~23% of GE equip. orders Latin America ~43% $5B thru Capital Markets (~10% of equip. orders) Middle East, North ~37% Africa, Turkey $50B export credit capacity arranged outside U.S. … up $22B in 2016 Sub-Saharan ~33% ‘16 enabled Africa orders Expanding access to capital markets … increasing presence in growth regions 12 2017 outlook ($ in billions) Earnings Key Dynamics 2016 2017E Continuing strong execution at Verticals $1.9 -/= Verticals … lower gains Other Continuing (3.1) ++ ALM actions offsetting higher excess debt costs from Capital $(1.3) ++ accelerated sales Delivering on dividend ENI (ex. liquidity) $82 ~$80 commitments Dividends $20 $6-7 Creating shareholder value SUCCESSFUL PORTFOLIO TRANSFORMATION Premier Digital industrial ... strong industrial EPS growth RETURNING CAPITAL TO SHAREHOLDERS $47B dividends paid to date CONNECTED THROUGH GE STORE Helping GE Industrial & customers grow with financing solutions .