GE Announces Early Participation Results, Upsizing, and the Amounts Accepted in its Debt Tender Offers Expects to Repurchase Roughly$ 25 Billion in Aggregate Star Quantum

GE Announces Early Participation Results, Upsizing, and the Amounts Accepted in its Debt Tender Offers Expects to Repurchase Roughly$ 25 Billion in Aggregate Star Quantum
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GE now expects to achieve further than$ 80 billion in gross debt reduction between the end of 2018 and the end of 2021 *
Builds on GE’s significant instigation perfecting fiscal position and operating performance to drive sustainable, profitable growth
.On track to achieve deleveraging targets and deliver high-single- number free cash inflow perimeters in moment’s portfolio of businesses in 2023
Early Participation Date Results and Accepted Tender Amounts

A aggregate of roughly$33.3 billion in aggregate top quantum (U.S. bone fellow) of the Securities listed in the tables below were validly proffered and not validly withdrawn at or previous to the Early Participation Date
GE accepts for purchase a aggregate of roughly$25.0 billion in aggregate top quantum (U.S. bone fellow) of the Securities validly proffered and not validly withdrawn at or previous to the Early Participation Date
BOSTON – November 26, 2021 – GE (NYSEGE) announces the results as of 500p.m., New York City time, on November 24, 2021 (the “ Early Participation Date”) for its preliminarily blazoned offer to buy for cash, for its own account and on behalf of the Subsidiary Issuers (as defined below), upon the terms and subject to the conditions set forth in the Offer to Buy, dated November 10, 2021 (as amended hereby, the “ Offer to Purchase”)
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up to$ (as described below) (the “ Pool One Maximum Quantum”) aggregate top quantum of the securities listed in Table I below ( similar securities, the “ Pool One Securities” and, similar offer to buy, the “ Pool One Tender Offer
. Over to$ (as described below) (as increased and amended from the preliminarily blazoned$, the “ New Pool Two Maximum Quantum”) aggregate top quantum of the securities listed in Table II below ( similar securities, the “ Pool Two Securities” and, similar offer to buy, the “ Pool Two Tender Offer”); and
. over to$ (as described below) (as increased and amended from the preliminarily blazoned$, the “ New Pool Three Maximum Quantum” and together with the Pool One Maximum Quantum and the New Pool Two Maximum Quantum, the “ New Maximum Amounts”) aggregate top quantum of the securities listed in Table III below ( similar securities, the “ Pool Three Securities” and, together with the Pool One Securities and the Pool Two Securities, the “ Securities” and, similar offer to buy, the “ Pool Three Tender Offer” and, together with the Pool One Tender Offer and the Pool Two Tender Offer, the “ Tender Offers” and each, a “ Tender Offer”).
GE amends the Tender Offers to increase the Pool Two Maximum Quantum and the Pool Three Maximum Quantum for each applicable Tender Offer, as described over, and accepts for purchase the aggregate star quantum of
. all Pool One Securities with Acceptance Priority Situations 1 through 18, and the Pool One Securities with Acceptance Priority Level 19 up to the Pool One Maximum Quantum, using a proration factor of roughly5.73 in agreement with the Pool One Tender Offer, that were proffered and not validly withdrawn in the Pool One Tender Offer at or previous to the Early Participation Date;
.all Pool Two Securities with Acceptance Priority Situations 1 through 12, and the Pool Two Securities with Acceptance Priority Level 13 over to the New Pool Two Maximum Quantum, using a proration factor of roughly46.12 in agreement with the Pool Two Tender Offer, that were validly proffered and not validly withdrawn in the Pool Two Tender Offer at or previous to the Early Participation Date, and GE isn’t accepting any Pool Two Securities with Acceptance Priority Situations 14 through 19; and
. all Pool Three Securities with Acceptance Priority Situations 1 through 14, and the Pool Three Securities with Acceptance Priority Level 15 up to the New Pool Three Maximum Quantum using a proration factor of roughly45.99 in agreement with the Pool Three Tender Offer, that were validly proffered and not validly withdrawn in the Pool Three Tender Offer at or previous to the Early Participation Date.
Table I, Table II and Table III below figure for each series of Securities the top quantum proffered as of the Early Participation Date as verified by the Information and Tender Agent (as defined below), the top quantum accepted for purchase by GE and the total aggregate star quantum outstanding, proffered and accepted for purchase by GE ( converting the Securities nominated in Pounds Sterling (the “ Sterling Securities”) and the Securities nominated in Euros (the “ Euro Securities”) intoU.S. bones using the applicable exchange rates ofUS$1.3338 per£1.00 andUS$1.1204 per€1.00, as reported on the Bloomberg screen runner “ FXIP” under the heading “ FX Ratevs. USD” at 1000a.m., New York City time, on November 24, 2021).
As preliminarily blazoned, the applicable “ Reference Yield” and the performing “ Total Consideration” outstanding for each series of Fixed Spread Securities (as defined in the Offer to Buy) per$,£ or€ star quantum of similar series of Fixed Spread Securities included in the Tender Offers will be determined at 1000a.m., New York City time, on November 29, 2021 (the “ Pricing Determination Date”). See the Offer to Buy for fresh information.
In order to calculate the New Maximum Amounts inU.S. bones, the aggregate star quantum of the Sterling Securities and the Euro Securities validly proffered and not validly withdrawn must be converted intoU.S. bones. The Tender Offers are amended hereby to use the applicable exchange rates at 1000a.m., New York City time, on November 24, 2021 (as opposed to the Pricing Determination Date , as reported on the Bloomberg screen runner “ FXIP” under the heading “ FX Ratevs. USD” solely for purposes of determining theU.S. bone original aggregate star quantum of the Sterling Securities and the Euro Securities validly proffered and not validly withdrawn. All other terms and conditions of the tender offers set forth in the Offer to Buy remain unchanged.

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