General Electric Co

##### PARIS-ALIGNED CLIMATE POLICY ENGAGEMENT

GE focuses its climate lobbying efforts on being a constructive
voice in advancing policies that further a successful energy
transition: the decarbonization of energy while growing access
to more reliable, sustainable and affordable energy. Our lobbying
activities are in furtherance of and consistent with our climate
change goals, including the science and goals expressed in the
Paris Agreement and the United Nations Framework Convention
on Climate Change. We work in partnership with governments
because we know that tackling the world's biggest challenges
is only possible if governments and industry work together as
partners. We also support associations that are leading on climate
change solutions, policies, and technologies, including nonprofit
[organizations and trade associations. Read more](https://www.ge.com/sites/default/files/ge2021_sustainability_report.pdf#page=51)

As described below on page 51, the GE Board of Directors (Board) exercises oversight and provides direction on GE's sustainability strategy, and the Governance & Public Affairs Committee in coordination with the Audit Committee oversees external reporting on sustainability matters, including this report. [...] The Governance Committee also plays an important role in GE's sustainability oversight, and has primary oversight of GE's priorities and external reporting related to sustainability/ESG matters, as well as policies and strategies related to political spending and lobbying, human rights, and environment, health and safety. [...] The Governance Committee, composed solely of independent directors, oversees the company's political spending and lobbying activities, including external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity. The Governance Committee is responsible for the following: - **Policy oversight. A yearly review of GE's political spending policies and lobbying practices.** - **Budget oversight. Approval of GE's annual budget for political activities.** - **Reporting. Reviewing semi-annual updates on political spending, both through company expenditures and through the employee-managed political action committee (GEPAC).** GE currently discloses the names of all trade associations receiving more than $50,000 from the company, including the portion of the company's payment used for lobbying or political expenditures, as well as any contributions to 501(c)(4)s, beginning with contributions made in 2018. GE's political spending has declined in recent years and, in 2022, GE did not contribute any corporate funds to political campaigns, committees or candidates for public office. In this year's Sustainability Report, we are again providing a description of how GE's climate lobbying activities align with the [...] GE's efforts on climate change and the energy transition start with GE's strong support for the Paris Climate Agreement commitments and other ambitious targets to reduce greenhouse gas emissions, including GE's climate change goals. Below we describe GE's direct and indirect policy engagement and lobbying on climate change, which we believe are in alignment with the Paris Climate Agreement goals. [...] LOBBYING Advocacy Through Organizations and Associations We support associations that are leading on climate change solutions, policies and technologies, including nonprofit organizations and trade associations. We partner formally and informally with numerous associations and NGOs around the world that share the mission of addressing climate change, decarbonizing industrial sectors and promoting sustainable development. For example: - GE is one of the founding strategic partners of the non-profit Center for Climate and Energy Solutions (C2ES), an original member of its Business Environmental Leadership Council and a member of its Board of Directors. GE participates in C2ES research and supports C2ES' mission to "advance strong policy and action to reduce GHGs, promote clean energy and strengthen resilience to climate impacts." - GE is an active member of the American Clean Power Association (ACP) and sits on its Board of Directors. ACP is the leading federation of renewable energy companies expediting the advancement of clean energy in the United States. - GE is a member of the Carbon Capture Coalition, a nonpartisan collaboration of more than 80 businesses and organizations building federal policy support to enable economy-wide, commercial-scale deployment of carbon capture technologies. Examples of collaboration with diverse public and private stakeholders in 2022 and 2023 are summarized on pages 31 and 43. [...] Annually, we meet with our major U.S. trade associations to review our policy priorities, including stressing the importance of each to align with the Paris Climate Agreement goals and be a force for positive action toward decarbonization and sustainable development goals. [...] Where we see trade associations potentially advocate for a position different than ours with regard to climate policy, including if a position is misaligned with the goals of the Paris Climate Agreement, we begin by reaching out to the trade association to assert influence toward alignment. Our goal is to communicate in real time and express our positions toward positive change. On these occasions, we have typically found fair reception of our input by the relevant trade associations. We believe this is a better approach than withdrawing membership when disagreements arise as our continued membership in the trade association usually positions us to influence the trade association's policy positions in ways that better align with our objectives. We believe our continued work with trade associations [...]

The Governance Committee, composed solely of independent directors, oversees the Company's political spending and lobbying activities, including external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity. [...] GE currently discloses the names of all trade associations receiving more than $50,000 from the Company, including the portion of the Company's payment used for lobbying or political expenditures, as well as any contributions to 501(c)(4)s, beginning with contributions made in 2018. GE's political spending has declined in recent years, and in 2021 GE Company did not contribute any corporate funds to political campaigns, committees or candidates for public office. In this year's Sustainability Report, we are also providing a description of how GE's climate lobbying activities align with the goals of the Paris Agreement, see pages 98-103. [...] The Governance Committee also plays an important role in GE's sustainability oversight, and has primary oversight of GE's policies and strategies related to climate change management; political spending and lobbying; human rights; environment, health and safety; and external reporting on sustainability matters. For example, the Governance Committee receives a standing update on safety incidents throughout GE at each meeting. The Audit Committee also has a role in sustainability matters to the extent these topics relate to financial reporting and regulatory requirements, including reporting on these matters in SEC filings and data quality related to this reporting. [...] GE's Chief Sustainability Officer and GE's Head of Government Affairs and Policy are regularly briefed on and help develop our policy priorities and activities; and our Governance Committee also receives formal reports on our political activities. To proactively develop and advance climate change policy positions and related strategy consistent with GE's climate change goals, we leverage the experience of a broad cross-functional team, inclusive of representatives from our Sustainability, Legal, Government Affairs, Risk, Financial and Investor Relations groups as well as advice received in consultation with outside specialists. We leveraged this cross-functional team in the preparation of this report on Paris-aligned lobbying, which was supervised by our Chief Sustainability Officer and Head of Government Affairs and Policy, and reviewed by the Governance Committee.

The Governance Committee, composed solely of independent directors, oversees the Company's political spending and lobbying activities, including external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity. [...] GE currently discloses the names of all trade associations receiving more than $50,000 from the Company, including the portion of the Company's payment used for lobbying or political expenditures, as well as any contributions to 501(c)(4)s, beginning with contributions made in 2018. GE's political spending has declined in recent years, and in 2021 GE Company did not contribute any corporate funds to political campaigns, committees or candidates for public office. In this year's Sustainability Report, we are also providing a description of how GE's climate lobbying activities align with the goals of the Paris Agreement, see pages 98-103. [...] In addition to robust board oversight, GE has significant management-level oversight over environmental and political activities. Our climate change and energy transition programs and policies are overseen by GE's Chief Sustainability Officer (CSO). The CSO has day-to-day responsibility for climate change and sustainability matters and works closely with the Head of Government Affairs and Policy, GE's International Market team, and representatives in relevant businesses—allowing for even greater synergies and alignment of our lobbying activities with our climate strategy. As described elsewhere, the CSO also works closely with environmental NGOs, think tanks, industry coalitions, trade associations and other stakeholders to advance these policies. [...] GE's Chief Sustainability Officer and GE's Head of Government Affairs and Policy are regularly briefed on and help develop our policy priorities and activities; and our Governance Committee also receives formal reports on our political activities. To proactively develop and advance climate change policy positions and related strategy consistent with GE's climate change goals, we leverage the experience of a broad cross-functional team, inclusive of representatives from our Sustainability, Legal, Government Affairs, Risk, Financial and Investor Relations groups as well as advice received in consultation with outside specialists. We leveraged this cross-functional team in the preparation of this report on Paris-aligned lobbying, which was supervised by our Chief Sustainability Officer and Head of Government Affairs and Policy, and reviewed by the Governance Committee.

The Board oversees the execution of GE's sustainability priorities and initiatives as an integrated part of the company's overall strategy and risk management. Matters related to sustainability often span multiple functional categories and areas of oversight, and therefore involve discussion at the full Board level as well as individual committees. [...] The Governance Committee also plays an important role in GE's sustainability oversight, and has primary oversight of GE's priorities and external reporting related to sustainability/ESG matters, as well as policies and strategies related to political spending and lobbying, human rights, and environment, health and safety. [...] Board Oversight of Public Policy and Lobbying The Governance Committee, composed solely of independent directors, oversees the company's political spending and lobbying activities, including external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity. The Governance Committee is responsible for the following: - **Policy oversight. A yearly review of GE's political spending policies and lobbying practices.** - **Budget oversight. Approval of GE's annual budget for political activities.** - **Reporting. Reviewing semi-annual updates on political spending, both through company expenditures and through the employee-managed political action committee (GEPAC).** GE currently discloses the names of all trade associations receiving more than $50,000 from the company, including the portion of the company's payment used for lobbying or political expenditures, as well as any contributions to 501(c)(4)s, beginning with contributions made in 2018. GE's political spending has declined in recent years and, in 2022, GE did not contribute any corporate funds to political campaigns, committees or candidates for public office. In this year's Sustainability Report, we are again providing a description of how GE's climate lobbying activities align with the..."
"CLIMATE POLICY ENGAGEMENT GE's efforts on climate change and the energy transition start with GE's strong support for the Paris Climate Agreement commitments and other ambitious targets to reduce greenhouse gas emissions, including GE's climate change goals. Below we describe GE's direct and indirect policy engagement and lobbying on climate change, which we believe are in alignment with the Paris Climate Agreement goals. We have been proud to play a visible role in advancing policy and action for climate change, energy transition and sustainability solutions. 2022 was a landmark year for stronger emphasis on action and partnership; following on the heels of the successful COP27 in Egypt—referred to as the implementation summit—now is the time to accelerate progress in emerging markets and around the globe. Doing so will require continued partnership across governments, business and civil society. As a company with a 130-year history of working with our customers and other stakeholders to lift the quality of life for people, we are deploying our global reach, expertise and depth of engineering capabilities to address this urgent challenge. Throughout 2022, we engaged in the public domain to advance thought leadership on how to achieve climate goals for the energy sector through strong policy, technology and investments. For example, GE [sponsored events with the Washington Post, Atlantic LIVE, Techonomy](https://www.washingtonpost.com/washington-post-live/2021/03/30/future-energy-with-former-us-secretary-energy-ernest-moniz-duke-energy-ceo-lynn-good/) [Climate, Atlantic Council Global Energy Forum and Abu Dhabi](https://techonomy.com/event/techonomy-climate/) [Sustainability Week focused on collaboration between the private and](https://abudhabisustainabilityweek.com/) public sectors to succeed in the energy transition and decarbonization [efforts. Learn more](https://www.ge.com/about-us/energy-transition) We also launched a public advocacy campaign urging the U.S. Congress and Biden administration to pass a comprehensive package of clean energy tax credits to ensure success in decarbonization efforts and continued U.S. leadership in energy manufacturing and jobs—both today and in the future. Ultimately, the United States passed the Inflation Reduction Act—the nation's first comprehensive climate change law—aligned with GE's advocacy. Learn more Our heightened engagement is continuing throughout 2023 to help formulate and support policies that advance a just transition and sustainability goals globally. We will continue to offer constructive input to the leaders charged with translating ambitious climate targets into laws, regulations and policies. As part of these efforts, we're highlighting the ways the energy transition is making a difference in local communities. This is where change happens, and to reach the ambitious [...] LOBBYING Advocacy Through Organizations and Associations We support associations that are leading on climate change solutions, policies and technologies, including nonprofit organizations and trade associations. We partner formally and informally with numerous associations and NGOs around the world that share the mission of addressing climate change, decarbonizing industrial sectors and promoting sustainable development. For example: - GE is one of the founding strategic partners of the non-profit Center for Climate and Energy Solutions (C2ES), an original member of its Business Environmental Leadership Council and a member of its Board of Directors. GE participates in C2ES research and supports C2ES' mission to "advance strong policy and action to reduce GHGs, promote clean energy and strengthen resilience to climate impacts." - GE is an active member of the American Clean Power Association (ACP) and sits on its Board of Directors. ACP is the leading federation of renewable energy companies expediting the advancement of clean energy in the United States. - GE is a member of the Carbon Capture Coalition, a nonpartisan collaboration of more than 80 businesses and organizations building federal policy support to enable economy-wide, commercial-scale deployment of carbon capture technologies. Examples of collaboration with diverse public and private stakeholders in 2022 and 2023 are summarized on pages 31 and 43. Trade Associations As one of the largest and most diverse companies in the world, GE belongs to many associations in which we work with our industry partners. These associations engage in advocacy at the state and federal levels in key jurisdictions around the world on a range of policy topics including energy and climate. Consistent with our direct lobbying, we believe our work with trade associations is in furtherance of, and consistent with, GE's climate change goals, including the goals [...] As a general proposition, we are seeing our trade associations increasingly move in constructive directions toward rallying their members toward climate change and energy transition solutions. In many cases, GE's policy team works with our trade associations on a regular basis to influence constructive action toward these goals. Annually, we meet with our major U.S. trade associations to review our policy priorities, including stressing the importance of each to align with the Paris Climate Agreement goals and be a force for positive action toward decarbonization and sustainable development goals. This is not to say that all trade associations are moving at the same pace, that we expect them to necessarily agree on all policy positions set forth, or that GE agrees fully on all views and positions. There is room for a reasonable divergence of views on various policies and approaches while still constructively advancing efforts toward decarbonization. GE's role in these circumstances is to be a force of positive direction and to express the views of a multinational industrial company in promoting constructive engagement by the trade associations on these issues. To be clear, GE does not and will not use trade associations as a cloak for climate change policies inconsistent with our own positions detailed above. Where we see trade associations potentially advocate for a position different than ours with regard to climate policy, including if a position is misaligned with the goals of the Paris Climate Agreement, we begin by reaching out to the trade association to assert influence toward alignment. Our goal is to communicate in real time and express our positions toward positive change. On these occasions, we have typically found fair reception of our input by the relevant trade associations. We believe this is a better approach than withdrawing membership when disagreements arise as our continued membership in the trade association usually positions us to influence the trade association's policy positions in ways that better align with our objectives. We believe our continued work with trade associations [...] our membership and/or withdrawing financial support if the misalignment with a particular position the trade association supports outweighs the overall benefits to GE of being a member. GE's Position on Climate Disclosure Regulations GE supports efforts to improve climate disclosure—including emerging regulations in the United States, European Union and other jurisdictions—that focus on material information, help align existing reporting frameworks, and recognize the evolving maturity of this type of information and reporting across companies broadly. GE aspires to be a constructive and positive voice toward advancing informative and pragmatic disclosure regimes that are effective and meaningful for our stakeholders while promoting consistency in various regimes to reduce confusion and undue burdens. GE has also expressed these views to several of our trade associations engaged in commenting and engaging on these rules with the goal of aligning on transparent and pragmatic disclosure requirements. We have encouraged our trade associations to be supportive of such disclosure generally while recognizing that some trade associations may express constructive points of views, feedback and concern on elements of these proposals. [...] on Climate As part of this ongoing engagement, during the past year, GE undertook an effort to centrally compile a global inventory of trade associations and other relevant organizations that GE was a member of in 2022 and that engaged in policy advocacy related to climate change. For each of those, we conducted analysis of how much work GE does with the organization and the organization's level of policy engagement in this space. From this broader list, we identified several trade associations with key roles on climate where we conducted a deeper analysis of each trade association's specific positions on climate change, and how well those positions aligned with GE's own policy positions and with the goals of the Paris Climate Agreement. We chose these trade associations, listed below, as the most relevant to consider for a more detailed climate position analysis based on factors such as the association's level of activity or influence on climate-related topics, the relevance of the association's work to particular GE businesses or markets, and our judgment about the association that would be of greatest interest to stakeholders regarding potential Paris Climate Agreement alignment or misalignment. The table below provides a summary of the alignment analysis, based on reviews of available policies and positions published by the trade associations.

As described below on page 51, the GE Board of Directors (Board) exercises oversight and provides direction on GE's sustainability strategy, and the Governance & Public Affairs Committee in coordination with the Audit Committee oversees external reporting on sustainability matters, including this report. While the contents within this report have not been externally assured, both internal and independent external resources have reviewed the information and data within for quality, completeness and accuracy. [...] The Governance Committee also plays an important role in GE's sustainability oversight, and has primary oversight of GE's priorities and external reporting related to sustainability/ESG matters, as well as policies and strategies related to political spending and lobbying, human rights, and environment, health and safety. [...] The Governance Committee, composed solely of independent directors, oversees the company's political spending and lobbying activities, including external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity. The Governance Committee is responsible for the following: - **Policy oversight. A yearly review of GE's political spending policies and lobbying practices.** - **Budget oversight. Approval of GE's annual budget for political activities.** - **Reporting. Reviewing semi-annual updates on political spending, both through company expenditures and through the employee-managed political action committee (GEPAC).** GE currently discloses the names of all trade associations receiving more than $50,000 from the company, including the portion of the company's payment used for lobbying or political expenditures, as well as any contributions to 501(c)(4)s, beginning with contributions made in 2018. GE's political spending has declined in recent years and, in 2022, GE did not contribute any corporate funds to political campaigns, committees or candidates for public office. In this year's Sustainability Report, we are again providing a description of how GE's climate lobbying activities align with the [...] GE's efforts on climate change and the energy transition start with GE's strong support for the Paris Climate Agreement commitments and other ambitious targets to reduce greenhouse gas emissions, including GE's climate change goals. Below we describe GE's direct and indirect policy engagement and lobbying on climate change, which we believe are in alignment with the Paris Climate Agreement goals. [...] LOBBYING Advocacy Through Organizations and Associations We support associations that are leading on climate change solutions, policies and technologies, including nonprofit organizations and trade associations. We partner formally and informally with numerous associations and NGOs around the world that share the mission of addressing climate change, decarbonizing industrial sectors and promoting sustainable development. For example: - GE is one of the founding strategic partners of the non-profit Center for Climate and Energy Solutions (C2ES), an original member of its Business Environmental Leadership Council and a member of its Board of Directors. GE participates in C2ES research and supports C2ES' mission to "advance strong policy and action to reduce GHGs, promote clean energy and strengthen resilience to climate impacts." - GE is an active member of the American Clean Power Association (ACP) and sits on its Board of Directors. ACP is the leading federation of renewable energy companies expediting the advancement of clean energy in the United States. - GE is a member of the Carbon Capture Coalition, a nonpartisan collaboration of more than 80 businesses and organizations building federal policy support to enable economy-wide, commercial-scale deployment of carbon capture technologies. Examples of collaboration with diverse public and private stakeholders in 2022 and 2023 are summarized on pages 31 and 43. [...] Trade Associations As one of the largest and most diverse companies in the world, GE belongs to many associations in which we work with our industry partners. These associations engage in advocacy at the state and federal levels in key jurisdictions around the world on a range of policy topics including energy and climate. Consistent with our direct lobbying, we believe our work with trade associations is in furtherance of, and consistent with, GE's climate change goals, including the goals [...] Annually, we meet with our major U.S. trade associations to review our policy priorities, including stressing the importance of each to align with the Paris Climate Agreement goals and be a force for positive action toward decarbonization and sustainable development goals. This is not to say that all trade associations are moving at the same pace, that we expect them to necessarily agree on all policy positions set forth, or that GE agrees fully on all views and positions. There is room for a reasonable divergence of views on various policies and approaches while still constructively advancing efforts toward decarbonization. GE's role in these circumstances is to be a force of positive direction and to express the views of a multinational industrial company in promoting constructive engagement by the trade associations on these issues. To be clear, GE does not and will not use trade associations as a cloak for climate change policies inconsistent with our own positions detailed above. Where we see trade associations potentially advocate for a position different than ours with regard to climate policy, including if a position is misaligned with the goals of the Paris Climate Agreement, we begin by reaching out to the trade association to assert influence toward alignment. Our goal is to communicate in real time and express our positions toward positive change. On these occasions, we have typically found fair reception of our input by the relevant trade associations. We believe this is a better approach than withdrawing membership when disagreements arise as our continued membership in the trade association usually positions us to influence the trade association's policy positions in ways that better align with our objectives. We believe our continued work with trade associations [...]

Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]The GE Board of Directors Governance Committee, composed solely of independent directors, oversees the Company's public policy and government relations activities, including policies and guidelines regarding political contributions and lobbying activities, and external reporting on such activities. This includes political and campaign contributions as well as any contributions to trade associations and other tax-exempt and similar organizations that may engage in political activity, including climate-related public policy.

In addition to robust Board oversight, GE has significant management level oversight over environmental and political activities. Our climate change and energy transition programs and policies are overseen by GE's Chief Sustainability Officer (CSO). The CSO has day-to-day responsibility for climate change and sustainability matters and works closely with the Head of Government Affairs and Policy, GE's International Market team, and representatives in relevant businesses allowing for even greater synergies and alignment of our lobbying activities with our climate strategy. The CSO also works closely with environmental NGOs, think tanks, industry coalitions, trade associations and other stakeholder to advance these policies.

GE's Chief Sustainability Officer and GE's Head of Government Affairs and Policy are regularly briefed on and help develop our policy priorities and activities; and our Governance Committee also receives formal reports on our political activities. To proactively develop and advance climate change policy positions and related strategy consistent with GE's climate change goals, we leverage the experience of a broad cross functional team, inclusive of representatives from our Sustainability, Legal, Government Affairs, Risk, Financial and Investor Relations groups as well as advice received in consultation with outside specialists.

Full statement can be found in GE's 2021 Sustainability report (see page 98, "Oversight of Public Policy and Lobbying†)

Attach commitment or position statement(s)[…]GE focuses its climate lobbying efforts on being a constructive voice in advancing policies that further a successful energy transition—the decarbonization of energy while growing access to reliable, sustainable, and affordable energy. Our lobbying activities are in furtherance of GE's climate change goals, including the science and goals expressed in the Paris Agreement and the United Nations Framework Convention on Climate Change, and we support policies that reduce greenhouse gas emissions and promote sustainable development. For example, GE has worked closely with the International Civil Aviation Organization (ICAO) to establish the first-ever CO2 emissions standards for aircraft. GE has been on the record in support of both President Biden's infrastructure initiative and clean energy tax credits, including launching a public advocacy campaign on the latter. GE engages in public policy discussions that impact our company, our workers, and our communities in areas such as aviation, energy, healthcare, international trade and investment, tax, data governance, rule of law and government procurement. These areas overlap with climate goals and we seek to inform discussions by promoting thoughtful civil discourse grounded in strong, fact-based and reasoned analysis. We work in partnership with governments because we know that tackling the world's biggest challenges is only possible if governments and industry work together as partners. GE employees engage with public officials at all levels of government in the United States and in some countries outside of the United States. GE conducts lobbying activities in compliance with applicable laws governing such activities and files appropriate reports. For example, in 2021, we engaged with the Biden administration and members of Congress in more than 120 meetings where we discussed various aspects of the energy transition. Of these, we had more than 20 meetings with staff of the U.S. Congress that included the full scope of GE's businesses, presenting a "One GE† position on the importance of reducing carbon emissions while promoting sustainable development.

Full statement can be found in GE's 2021 Sustainability report (see page 98, "Paris-Aligned Lobbying Report".

Does your organization have a public commitment or position statement to conduct your engagement activities in line with the goals of the Paris Agreement?[…]Yes

interests. At the same time, we would reserve the option of terminating our membership and/or withdrawing financial support ifthe misalignment with a particular position the trade association supports outweighs the overall benefits to GE of being a member.

GE's Position on Climate Disclosure Regulations

GE supports efforts to improve climate disclosure—including emerging regulations in the United States, European Union and other jurisdictions—that focus on material information, help align existing reporting frameworks, and recognize the evolving maturity ofthis type of information and reporting across companies broadly. GE aspires to be a constructive and positive voice toward advancing informative and pragmatic disclosure regimes that are effective and meaningful for our stakeholders while promoting consistency in various regimes to reduce confusion and undue burdens. GE has also expressed these views to several of our trade associations engaged in commenting and engaging on these rules with the goal of aligning on transparent and pragmatic disclosure requirements. We have encouraged our trade associations to be supportive of such disclosure generally while recognizing that some trade associations may express constructive points ofviews, feedback and concern on elements ofthese proposals.

Positions ofGE Trade Associations with Key Roles on Climate

As part ofthis ongoing engagement, during the past year, GE undertook an effort to centrally compile a global inventory oftrade associations and other relevant organizations that GE was a member of in 2022 and that engaged in policy advocacy related to climate change. For each ofthose, we conducted analysis ofhow much work GE does with the organization and the organization's level ofpolicy engagement in this space.

From this broader list, we identified several trade associations with key roles on climate where we conducted a deeper analysis of each trade association's specific positions on climate change, and how well those positions aligned with GE's own policy positions and with the goals ofthe Paris Climate Agreement. We chose these trade associations, listed below, as the most relevant to consider for a more detailed climate position analysis based on factors such as the association's level of activity or influence on climate-related topics, the relevance of the association's work to particular GE businesses or markets, and our judgment about the association that would be of greatest interest to stakeholders regarding potential Paris Climate Agreement alignment or misalignment. The table below provides a summary ofthe alignment analysis, based on reviews ofavailable policies and positions published by the trade associations.

The Aerospace Industries Association (AIA) is a leading voice in the aircraft, space and defense industries. The organization advocates for effective federal investments; accelerated deployment of innovative technologies; policies that enhance the aviation industries global competitiveness; and recruitment and retention efforts that support a capable and diverse 21st century workforce.

CLIMATE CHANGE POSITION

AIA is committed to playing its part in reducing the climate, noise and air quality impacts ofthe aviation industry. In October 2021, AIA announced a net zero by 2050 target for the U.S. aviation sector's carbon. In support ofthis goal, AIA spearheaded a study with Accenture to analyze the state of sustainable aviation technologies and identify the types of public policies and investments necessary to achieve its net zero goals. Issued in April 2022, the report, "Horizon 2050: A Flight Plan for the Future of Sustainable Aviation," is a comprehensive guide to decarbonzation solutions based on technology-specific data and analysis, including changes to airport operations and infrastructure, offsets and Sustainable Aviation Fuel (SAF), and cutting-edge aerospace technologies emissions.

Additionally, AIA aims to play a role in decarbonizing aviation by: • Expanding investments in leading-edge technology like advanced and zero emission propulsion.

• Advocating for policies that facilitate the increased use of Sustainable Aviation Fuel across the globe.

• Partnering with the government to enable and accelerate advancements in technology.

• Collaborating with the government to develop the proper regulatory framework to enable commercialization of new technologies.

• Partnering with other stakeholders to realize efficiency improvements through the modernization of our airspace.

• Advancing climate action under the International Civil Aviation Organization (ICAO), which relies on a global approach to address aircraft emissions.

• Working with international partners toward our common goal by sharing information and resources, and coordinating with governments around the world.

AIA recognizes a coordinated federal response is crucial to meeting the industry's critical environmental goal of net zero emissions by 2050 and will continue to engage with policymakers in the FAA, NASA, DOE, USDA and DOT to coordinate federal investment in crucial programs like the Continuous Low Energy Emissions and Noise (CLEEN) program.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

AIA has set a target to be net zero by 2050 and has committed to decarbonize through investing in technology, advocating for SAF, and promoting global standards and international agreements on aviation emissions. We believe these commitments are consistent with the goals ofthe Paris Climate Agreement.

AIA is also aligned with GE, as GE continues to develop technologies to reduce CO2 emissions for the future offlight through current advancements in engine architecture, aerodynamics and materials, along with the next suite of engine technologies—including open fan architectures, hybrid electric and electric propulsion concepts, and advanced thermal management concepts. GE Aviation is also supporting industry initiatives to approve and adopt 100% SAF and investigating hydrogen as the zero carbon fuel ofthe future. GE's efforts to innovate toward a net zero 2050 ambition for aviation are further described on page 44.

92 | GE 2022 SUSTAINABILIT Y REPORT

Business Roundtable (BRT) is an association of chief executive officers of America's leading companies working to promote a thriving U.S. economy and expanded opportunity for all Americans through sound policy.

CLIMATE CHANGE POSITION

BRT believes addressing climate change and its impacts demands a robust, coordinated effort with a sound policy portfolio. To avoid the worst impacts of climate change, the world must work together to limit global temperature rise this century to well below 2 degrees Celsius above preindustrial levels, consistent with the Paris Climate Agreement, and the U.S. and the international community must aggressively reduce GHG emissions and create incentives for developing new technologies to achieve this goal.

BRT notes that in 2018 the Intergovernmental Panel on Climate Change reported that limiting warming to no more than 1.5 degrees Celsius compared to preindustrial levels will be necessary to avoid some of the most severe risks associated with climate change.

BRT supports a goal of reducing net U.S. greenhouse gas emissions by at least 80% from 2005 levels by 2050.

Building on its September 2020 publication of principle and policies for addressing climate change, in April 2022, BRT issued a Roadmap for U.S. Energy Policy, putting forward 10 policies to advance decarbonization, including expanding use of a diverse energy portfolio and clean energy technologies, enacting clean energy incentives, accelerating permitting of energy infrastructure, and establishing a price on carbon that provides a clear long-term signal and incentivizes the development and deployment oftechnologies to lower emissions.

BRT also recognizes for the U.S. to reach net zero carbon emissions by 2050, an unprecedented amount of new infrastructure must be planned, permitted and built within the next decade. With that in mind, BRT has advocated for bipartisan legislation reforming the permitting process for energy infrastructure projects to reduce emissions, uphold environmental protections and pave the way for the U.S. to become a clean energy powerhouse.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

GE continues to work with BRT to ensure U.S. business leaders support ambitious policies in line with the U.S. commitment to the Paris Climate Agreement. BRT opposed the Inflation Reduction Act (IRA) for reasons that were unrelated to the clean energy tax incentives. The reasons were grounded in broadly applicable tax policies that affected many of its members. GE discussed the importance of the clean energy tax incentives with BRT and confirmed BRT staff understand these tax incentives will help keep the U.S. a leader in clean energy technology and innovation toward decarbonization goals. Since the enactment of the IRA, BRT has supported policies to enable the success of the IRA tax credits through being a constructive voice on permitting reform.

The Canadian Chamber of Commerce represents over 200,000 businesses with a mission to drive change, partner broadly, and be the undisputed champion and catalyst for the future of business success in Canada.

CLIMATE CHANGE POSITION

The Canadian Chamber of Commerce supports the need for Canada to adopt an efficient and cost-effective approach to climate change. The organization has stated the 2050 net zero target is a necessity.

In support ofthat position, in October 2022, the organization and its Net Zero Council released a report, "How We Get There Matters: Establishing a Path to Net-zero in Canada," which highlights how Canada's business community must play a key role in our sustainable future and responds to the Canadian government's major climate change initiatives, specifically Environment and Climate change Canada's (ECCC) 2030 Emissions Reduction Plan. The Canadian Chamber used this report and its recommendations in testimony before the Senate Standing Committee on Energy, the Environment and Natural Resources in December 2022 to highlight the importance of Canada's energy sector to meet both economic and environmental objectives.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

In August 2021, the Canadian Chamber ofCommerce created the Net Zero Council. GE Canada President and CEO Heather Chalmers is co-chair ofthe NZC. The NZC meets monthly to support research and advocacy to shape Canada's pathway to net zero. Membership on the council is for businesses, like GE, that have made public declarations to achieve net zero in their operations by 2050 or sooner. The NZC is dedicated to advancing business leadership on climate change and intends to release a report on effective cross-sectoral pathways to net zero in 2022.

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EUTurbines is a gas and steam turbine industry association aimed at integrating all European manufacturers of the sector, covering all relevant applications. The organization promotes the role of turbine-based power generation in a sustainable, decarbonized European and global energy mix.

CLIMATE CHANGE POSITION

EUTurbines supports a sustainable transition of the energy system aimed at decarbonizing the energy sector and has expressed its support of the European Green Deal. EUTurbines advocates for solutions such as renewable-based turbines to help achieve a wellfunctioning energy system in a future climate neutral economy, and believes all economic sectors need to swiftly adapt and drastically reduce their greenhouse gas emissions, starting with the energy sector.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

EUTurbines supports dramatically reducing greenhouse gas emissions and swiftly transitioning to sustainable energy. We believe these commitments are consistent with the goals ofthe Paris Climate Agreement.

EUTurbines is aligned with GE policy, as GE agrees that the world must act quickly to decarbonize every aspect of modern life and that lower carbon solutions, such as switching gas turbines from natural gas to hydrogen, can lead to low or near zero carbon emissions. GE offers the industry's most experienced gas turbine fleet in hydrogen and similar low-BTU fuel operations and continues to invest in research and development into hydrogen pathways towards zero CO2 emissions. GE was involved in the development of EUTurbine's H2-readiness definition, which provides a common understanding of hydrogen readiness for new gas power plants.

GE's efforts to innovate toward a net zero 2050 ambition for aviation are further described on page 44.

The Gas Turbine Association (GTA) is an association composed of large and small gas turbine manufacturers, associated equipment manufacturers and leading research universities. GTA's primary focus has been on technology programs designed to increase turbine efficiency. GTA advocates for public policies and regulations that support and promote the expanded use of gas turbine technology in all relevant sectors of the economy.

CLIMATE CHANGE POSITION

GTA supports developing and implementing a strategy for ensuring reasonable and responsible environmental practices for gas turbines, as well as environmental policy recommendations for communication to regulators and legislators. GTA conducts dialogue regarding the development of a regulatory climate that encourages the use of clean efficient gas turbine applications in new and retrofit installations.

GTA's advocacy focus is on federal research and development funding to drive carbon emissions out of gas turbines. GTA is currently taking a broader look at hydrogen and carbon capture funding opportunities that allow further decarbonization of gas turbine technology.

In addition, GTA supports enhanced investment in research and development at minority institutions and Historically Black Colleges and Universities (HBCUs) with programs advancing technology in clean energy, energy efficiency and climate programs geared to underserved communities.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

GE believes when it comes to gas power, coal-to-gas switching can represent a fast and effective approach for emissions reduction in many regions around the world. In addition, switching turbines from natural gas to hydrogen, and introducing carbon capture solutions, can lead to low or near zero carbon emissions. GE Gas Power is currently the Committee Chair of GTA's Environmental Affairs Committee, a position we use to encourage GTA to advocate for policies that make continued progress on carbon capture and hydrogen, which will decarbonize gas turbines in the future.

GE's efforts to innovate toward a net zero 2050 ambition for power are further described on page 32.

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The National Association of Manufacturers (NAM) represents 14,000 member companies, both large and small, across industry sectors to advocate around the four values of free enterprise, competitiveness, individual liberty and equal opportunity.

CLIMATE CHANGE POSITION

NAM believes an environment and climate change agenda for the future must recognize manufacturers as the solution to emerging environmental challenges and build on the strong steps manufacturers have already taken to become more sustainable and tackle climate change; apply sound science and evidence-based approaches in new proposals; and appropriately balance the United States' economic and environmental interests so that achieving one goal does not mean ignoring the other.

NAM recommends commencing negotiations to improve on the Paris Climate Agreement and achieve a binding global climate treaty that keeps postindustrial warming ofthe planet to well below 2 degrees, and approaching 1.5 degrees. This position is memorialized in NAM's 2021 comprehensive climate blueprint, The Promise Ahead, which also outlines a broad manufacturers' plan for action, supporting both "an international, rules-based system that is consistently applied to bind all emitters and ensure a level playing field, and a unified domestic framework that applies to all emitters and harmonizes GHG regulation."

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

NAM supports a binding climate treaty to keep postindustrial warming ofthe planet to well below 2 degrees, and approaching 1.5 degrees. We believe these ambitions are consistent with the goals of the Paris Climate Agreement.

GE plays an active role on NAM's Environment Committee and worked to update NAM's policy on climate in 2020, which brought it more closely aligned to GE's climate policy position and the Paris Climate Agreement. Roger Martella, GE's ChiefSustainability Officer and Vice President ofGE Vernova Government Affairs and Sustainability, is NAM's Sustainability & Environmental Quality Committee Chair and Pat Byrne, Senior Vice President ofOperational Transformation at GE, serves on NAM's Board ofDirectors.

NAM opposed the Inflation Reduction Act (IRA) for reasons that were unrelated to the clean energy tax incentives. The reasons were grounded in broadly applicable tax policies that affected many of their members. GE discussed the importance ofthe clean energy tax incentives with NAM and confirmed their leadership understands these tax incentives will help keep the U.S. a leader in clean energy technology and innovation toward decarbonization goals. Since the enactment ofthe IRA, the NAM has supported policies to enable the success ofthe IRA tax credits through being a constructive voice on permitting reform.

The U.S. Chamber of Commerce (Chamber) is the world's largest business organization representing all sizes of businesses to advocate, partner and network on a range of topics. The Chamber advocates for policies that help businesses create jobs and grow the United States economy.

CLIMATE CHANGE POSITION

The Chamber engages on climate change policy approaches that acknowledge the cost of inaction and the competitiveness ofthe U.S. economy and advocates for durable solutions that leverage innovation. The Chamber has stated it supports the Biden administration's decision to rejoin the Paris Climate Agreement.

The Chamber's climate policy principles are: • Support a market-based approach to accelerate greenhouse gas emissions reductions across the U.S. economy. • Leverage the power of business. • Maintain U.S. leadership in climate science. • Embrace technology and innovation. • Aggressively pursue greater energy efficiency. • Promote climate resilient infrastructure. • Support trade in U.S. technologies and products. • Encourage international cooperation. • Inaction is not an action.

In furtherance ofthese principles, the Chamber was one ofa coalition oforganizations representing the business community that supported the successful ratification ofthe Kigali Amendment to the Montreal Protocol for the economic and environmental benefits associated with phasing down the production and use of hydrofluorocarbons in February 2022. More recently, the Chamber has called on Congress to enact a bipartisan permitting modernization bill to accommodate growing demand for, and investments in, solar and wind power to accelerate the clean energy transition.

ALIGNMENT TO THE PARIS CLIMATE AGREEMENT AND GE'S CLIMATE POSITIONS

We believe the Chamber has progressed on its climate change position. This includes putting forth a comprehensive climate position that includes supporting U.S. participation in the Paris Climate Agreement, as well as calling on policymakers to act on climate. Additionally, the Chamber has launched a task force open to its membership to inform the organization's climate policy. In 2019, GEjoined the U.S. Chamber's Task Force on Climate Action. This group was focused on helping the Chamber understand the impact ofexisting and future policies on businesses and how to proactively address climate change.

The Chamber has made progress in recognizing the Paris Climate Agreement and being a convenor ofcompanies and governments in pursuit ofsolutions to climate change at global venues such as COP27, where the Chamber facilitated engagement between American companies and the Egyptian government. Activities following COP27 have shown the Chamber's continued commitment to global climate efforts, including hosting a high-level roundtable discussion among U.S. and UAE officials and the private sector focused on the Partnership for Accelerating Clean Energy, an initiative announced in November 2022 that aims to catalyze $100 billion in financing, investment and other support to deploy 100 new gigawatts ofclean energy by 2035.

The Chamber opposed the Inflation Reduction Act (IRA) for reasons that were unrelated to the clean energy tax incentives. The reasons for this opposition were grounded in broadly applicable tax policies that affected many oftheir members. GE discussed the importance ofthe clean energy tax incentives with the Chamber and confirmed their leadership understands these tax incentives will help keep the U.S. a leader in clean energy technology and innovation toward decarbonization goals. Since the enactment ofthe IRA, the Chamber has supported policies to enable the success ofthe IRA tax credits through being a constructive voice on permitting reform.

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In addition to the trade associations discussed above, the following trade associations and other relevant organizations were considered as part of our global inventory of groups engaged in policy advocacy related to climate change. As noted above, we conducted an analysis of each ofthese organizations related to their climate positions and GE's level of engagement with them.

ORGANIZATION

• Airlines for Europe (A4E) • Associação Brasileira da Infraestrutura e Indústrias de Base (ABDIB) • Aerospace Environmental Group (IAEG) • Aerospace Industries Association (AIA) • Clean Energy Council - Australia • Clean Hydrogen Future Coalition • CNI (National Industry Confederation) - Brazil • Comex - Peru • American Clean Power • American Chamber of Commerce European Union • Australian Energy Council • Australian Industry Group • Business Council of Canada • Business Europe • Business Roundtable • Business Unity South Africa (BUSA) • California Energy Storage Alliance • Canadian Chamber of Commerce • Canadian Council for Sustainable Aviation Fuel • Canadian Manufacturers & Exporters • Canadian Nuclear Association (CAN) • Carbon Capture Coalition • Carbon Utilization Research Council • Consejo Coordinador Empresarial (CCE) - Mexico • Consejo Ejecutivo de Empresas Globales (CEEG) - Mexico • Comité de prospective de la CRE (Prospectvie Committee ofthe Energy Regulation Commission) - France • Confederation of Indian Industry (CII) • Consumer Energy Alliance • Council of American Enterprises (CEA) - Colombia • Energy Solutions • ETN (European Turbine Association) • EurElectric • European Association for Storage of Energy (EASE) • European Suppliers ofWaste to Energy Technology (ESWET) • EUTurbines • The Federation of Industries ofthe State of São Paulo (FIESP) • Gas Turbine Association • General Aviation Manufacturers Association (GAMA) • Global Wind Energy Council (GWEC) • Greater New Orleans, Inc • Gridwise Alliance • Hydrogen Europe • Institute for Business Development of Argentina (IDEA) • International Emissions Trading Association (IETA) • Louisiana Oil & Gas Association* • National Association of Manufacturers (NAM) • National Foreign Trade Council • Nuclear Energy Institute • Ohio Business Roundtable • Roundtable for Europe's Energy Future • Russian Union of Industries and Entrepreneurs • SER (Syndicate for Renewable Energies) • Singapore Business Federation • T&D Europe • Thai Wind Energy Association • The National Hydropower Association • Turkish Wind Energy Association • United States Council for International Business • U.S. Chamber of Commerce • WaterPower Canada • WindEurope As with climate policy generally, we recognize there is room for a reasonable divergence of views on specific elements and approaches of various proposals that may warrant constructive comment and engagement to find the appropriate balance between disclosure, transparency, regulatory burdens and material information.

* The Louisiana Oil & Gas Association opposed the Inflation Reduction Act (IRA) for reasons that were unrelated to the clean energy tax incentives. The reasons for this opposition were grounded in broadly applicable tax policies that affected many oftheir members. GE discussed the importance ofthe clean energy tax incentives with the organization and confirmed their leadership understands these tax incentives will help keep the U.S. a leader in clean energy technology and innovation toward decarbonization goals.

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Product Stewardship

Product stewardship represents the responsibility borne by GE for the environmental and safety impacts of our products across their lifecycle. Product stewardship focuses on managing the energy, water and materials that are utilized in the production, use and disposal of a product, along with managing product safety, at all stages ofthe product lifecycle.

In relation to product stewardship, circular economy is the enabling methodology to manage resources efficiently in a regenerative and restorative way. Viewing waste streams as inputs across the product lifecycle reduces dependency on virgin materials by recapturing lost materials and redirecting them back into the economy.

GE'S PRODUC T STE WARDSHIP APPROACH

In response to increasing scarcity of resources and the expectations from customers, investors and regulators for producers to take heightened responsibility for the impacts of products across their full lifecycle, GE developed product stewardship and circularity goals in 2021. In 2022, GE businesses made progress towards achieving those goals while continuing to assess how to strengthen our efforts going forward.

GE's businesses continue to pursue the safety, environment and external engagement goals identified on these pages. Over the past year, more than 100 personnel in over a dozen different functions were activated in the businesses to both assess the progress of existing circularity and product stewardship initiatives, and to draft objectives and roadmaps to further incorporate circularity and stewardship steps into the business strategy. This responsible approach to both our operations and products allows us to build upon the goals we've identified and continue to rise to the challenge of building a world that works.

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