GE Vernova (GEV) Risk Factor Changes

operating costs are not successful, our financial results and cash flows may be adversely affected.

essential to our business, and significant disruptions to our manufacturing and production facilities and distribution networks

and financial performance, and our failure to successfully execute these transactions could adversely affect our business.

certain projects, which could impose additional costs and obligations on us.

indemnify GE for amounts paid.

other currencies have had, and will continue to have, an impact on our financial condition, results of operations, and cash flows.

Volatility in foreign currency exchange rates may adversely affect our financial condition, results of operation, and cash flows.

business performance, results of operations, liquidity, and financial condition.

debarment.

results, cash flows, and financial condition.

liabilities for personal injury, property damage, and health risks from exposures to hazardous substances, processes, or working conditions

sanctions.

Initiative, the Sustainability Accounting Standards Board, and recommendations issued by the Financial Stability Board’s Task Force for

Risks Relating to Policy, Government Regulations and Legal Matters

facilities.

impair our responsiveness to changing conditions and our ability to enforce compliance with group-wide standards and applicable

Risks Related to Macroeconomic and Geopolitical Factors

Demand for certain of our products, solutions, and services, particularly in our Power segment, depends on oil and gas regulatory policy,

landscape evolves faster or differently than anticipated, demand for our products, solutions, and services could be adversely affected.

technology trajectories.

financial results, cash flows, and returns.

pay liquidated or other damages for failure to meet schedule or performance requirements; difficulties engaging or overseeing third‑party

performance failures; unforeseen site conditions; rejection or termination clauses in contracts that reduce revenue or increase costs;

and limit our ability to secure new contracts or business opportunities.

prohibitions on financing for fossil fuel–based projects), macroeconomic conditions, changes in law or policy, disputes, or other delays.

Risks Related to our Customers and Industry Dynamics

cash flows, financial condition, or prospects.

(including financial obligations and termination rights), or ownership and control of intellectual property developed in the arrangement.

provisions of the Separation and Distribution Agreement described under “Certain Relationships and Related Person Transactions—

Assessments and assumptions supporting a transaction may prove incorrect, and actual outcomes may differ significantly from

sequestration, and grid-scale batteries or other storage solutions depends on factors including the pace of innovation; development costs;

technologies such as small modular or other advanced nuclear power, hydrogen-based power generation, carbon capture and

of our customers in connection with significant contracts for the sale of products.

are based on estimates and assumptions that are inherently uncertain and subject to business, economic, and competitive factors.

Risks Related to Managing Growth and Competition

quantities, we may need to source more from external suppliers, which could introduce delays, quality control issues, or additional costs.

downtime, manufacturing deviations or quality issues, production constraints, equipment failures, cybersecurity attacks, and geopolitical

factors could impede our ability to deliver quality products, solutions, and services and have a material adverse effect on our results of

Significant supply chain and logistics disruptions, including volatility in the cost or availability of critical materials and

having to suspend operations at that project for an extended period and being subject to additional regulatory oversight at that project.

projects.

In addition, we may become subject to increased regulatory oversight and suspensions of our operations for events that may occur at our

our reputation, divert management’s attention, and could potentially affect our ability to continue operating in certain jurisdictions.

sites or facilities.

or former facilities.

to EHS regulatory compliance obligations, we may face liability arising out of the normal course of business, including alleged personal

suspension of operations, and reputational harm.

under such laws and regulations could result in substantial costs, fines, sanctions, claims, additional regulatory oversight,

Our operations are subject to various EHS laws and regulations, and potential litigation, and non-compliance with or liabilities

indirect impacts from supply chain disruption and market volatility.

results, and could disrupt our operations or those of our customers or suppliers, including through direct damage to physical assets and

thus may impact consumer demand for electricity generation.

change may also produce general changes in weather or other environmental conditions, including temperature or precipitation levels, and

temperature and sea levels, and long-term changes in precipitation patterns (e.g., drought, desertification, or poor water quality).

significant weather events (e.g., flooding, hurricanes, and tropical storms), natural hazards (e.g., increased wildfire risk), rising mean

The physical effects of climate change, including weather disruptions and related effects, could adversely impact our business.

obtain, or comply with, those approvals, licenses, or permits may negatively impact our ability to provide products and services to them and

customers are often required to obtain, and comply with, approvals, licenses, or permits required for their businesses, and their failure to

to comply with, the approvals, licenses, or permits required for our business could have a material adverse effect on us.

governmental regulations may cause us to incur substantial costs to adapt our products, solutions, and services.

differently, we may be required to obtain additional operating approvals, licenses, or permits.

legislation or regulations are enacted or implemented, or if existing laws or regulations are amended or are interpreted or enforced

power generation activities that could negatively impact the related products, solutions, and services we provide to customers.

In addition, concerns about climate change and increased environmental activism could slowdown regulatory approval of fossil fuel-based

otherwise, or local community, political, or other opposition.

the failure to comply with EHS laws and regulations, the failure to comply with permit conditions, violations found during inspections or

Although existing licenses are routinely renewed by various regulators, renewal could be denied or jeopardized by various factors, including

time delays due to governmental requirements and policies as well as local official processes and availability.

our NRC licenses could result in significant disruptions to our nuclear business.

permits may adversely affect our operations by suspending our activities or curtailing our work and may subject us to penalties and other

denial, revocation, or modification under various circumstances.

with, federal, state, and local government approvals, licenses, and permits.

ability to produce, market, and sell our products, solutions, and services.

Failure to obtain or comply with federal, state and local government approvals, licenses, and permits may negatively affect our

results of operations, cash flows, financial condition, and prospects.

quantities of products, solutions, and services could be disruptive and costly to our business and could negatively impact our business,

government’s adoption of “buy national” policies, local production requirements, or other barriers to entry, in countries where we sell large

certain countries or entities, higher tariffs, restrictions on outbound investment, more detailed inspections, exchange controls, a

more restrictive trade policies, such as import or export controls, required licenses or authorizations to engage in business dealings with

escalating costs, or prevent us from being able to offer our products, solutions, and services in certain countries.

foreign trade and investment can affect the demand for our products solutions, and services, impact our competitive position, subject us to

International trade policies may impact demand for our products and our competitive position.

adversely impact our ability to attract and retain customers and talent and expose us to increased scrutiny from the investment community

investments or otherwise could negatively impact our business and/or competitive position.

compliance requirements upon us or our products, require new or additional investment in product designs, result in carbon offset

results of operations, cash flows, and financial condition.

Failure to achieve our ESG goals, commitments and targets or comply with emerging ESG regulations could adversely affect our business,

ESG-related measures and/or ESG initiatives.

increasing risk that we could be perceived as or accused of making inaccurate or misleading statements regarding our performance against

increasing scrutiny on ESG matters as well as the increasing number of regulatory obligations relating to our business, there is also an

requirements and by investor and public perception of our reporting and performance related to voluntary climate standards.

to expand globally, particularly in the EU.

adopted Australian climate-related financial disclosures legislation.

emissions and climate risk disclosure requirements under the International Sustainability Standards Board framework, such as the recently

pending at the SEC, at the federal level for government contractors, and in other states.

California, related to pension investments in California, and for the responsible investment of public funds in Illinois.

Taxonomy, and the EU CSDDD.

the EU that apply or will apply to us when effective, due to our revenues and employee populations in the EU, including the EU CSRD, EU

other things, on our stock price and cost of capital.

the ESG standards set by specific investors, may lead to unfavorable sentiment toward us, which could have a negative impact, among