Slide 1: GE Aerospace Bernstein Strategic Decisions Conference 2026
GE Aerospace Bernstein Strategic Decisions Conference 2026 May 27, 2026
Slide 2: Caution concerning forward-looking statements
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
Slide 3: GE Aerospace: A global leader in propulsion, services, and systems
GE Aerospace: A global leader in propulsion, services, and systems Commercial Engines & Defense & Propulsion Services (CES) Technologies (DPT) Servicing and growing the $42B Leading defense programs, industry’s most extensive 2025 adjusted revenue* developing mission critical tech commercial install
Slide 4: Systematic approach to running our company
Systematic approach to running our company C U LT U R E T O D AY Ramping services and equipment Operational Financial results performance TOMORROW Expanding capacity and capabilities Breakthroughs Behaviors + Fundamentals (Hoshin FUTURE Kanri) Inventing the future of flight 4
Slide 5: Accelerating services and equipment output
Accelerating services and equipment output with Commercial services revenue .... Total engine deliveries +39% y/y +43% y/y 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 1Q'25 2Q'25 3Q'25 4Q'25 1Q'26 ISVs Spare Parts Commercial Defense ▪ Over past 12 months, internal shop visit (ISVs) ▪ Over past 12 months, total en
Slide 6: Key operational indicators – demand remains resilient
Key operational indicators – demand remains resilient (MSD) >40% >30% Parked aircraft Spare parts orders-a) Engines removed, not inducted May vs. April since beginning of March y/y since beginning of March ▪ Remains down from ▪ ~Flat sequentially to ▪ 2Q removals exceeding beginning of ’26 January /
Slide 7: Over 2.3B commercial flight hours and ~$3B in annual R&D spend
Over 2.3B commercial flight hours and ~$3B in annual R&D spend Platforms Experience Evolution Breakthrough Foundational Current Generation Future CFM56 LEAP CFM RISE Narrowbody >1.3B flight hours -1A at CFM56 levels of 20%+ better fuel burn time-on-wing, -1B to follow by unlocking propulsive efficie
Slide 8: CFM56: stable outlook, limited risk from retirements and workscopes
CFM56: stable outlook, limited risk from retirements and workscopes ’26 to ’28 shop GE90 visit volume by age Workscopes steady-a) < 20 yrs 20-25 yrs >25 yrs 2H'25 1H'26E 2H'26E <2% ~2% 3-4% 3-4% ▪ Stable workscopes: new material needed as used ▪ ~80% of volume from engines less than 20 years old … m
Slide 9: LEAP: fastest growing fleet with improving margins
LEAP: fastest growing fleet with improving margins Global shop GE90 visit outlook Growing profit and margins ~25% CAGR External LEAP CFM CFM56 Internal 2024 2025 2026E 2028F 2030F 2024 2025 2026E 2030F ▪ Installed base more than doubling ‘25 to ’30 ▪ Developing repairs and investing in time-on-wing
Slide 10: Widebody: ~80% of revenue from services with above average margins
Widebody: ~80% of revenue from services with above average margins Internal shop visit outlook Fleet GE90 dynamics HSD ▪ Widebody installed base growth driven by >75% win CAGR rate on GEnx and stability from other programs ▪ CF6 and GE90 freighter conversion demand remains strong and extends program
Slide 11: Commercial Services: double digit growth trajectory over medium-term
Commercial Services: double digit growth trajectory over medium-term Growing GE90 installed base Volume, workscope and price tailwinds ▪ Installed base growing by ~10K engines between ’25 and ’30 LSD/MSD CAGR − Strong win rates, LEAP >25% & widebody HSD shop visit CAGR-a), CFM56 and GE90 stable ▪ Wo
Slide 12: DPT well-positioned on current and future programs
DPT well-positioned on current and future programs $1.4B order for T408 F404 engine order for ramping $5B Air Force IDIQ for F110 engines on Marine Corps CH-53K Türkiye Hürjet Completed Assembly Readiness Review Selected for preliminary design review Demonstrated AI app: produced prelim on XA102 for
Slide 13: GE Aerospace: Advancing propulsion today, tomorrow and in the future
GE Aerospace: Advancing propulsion today, tomorrow and in the future Highest Customer Most Extensive Breakthrough Operational Preferred Installed Base Innovation Reliability Platforms Fleet of ~80K engines Unrivaled customer Best performing ~$3B annual R&D and GE Aerospace’s and over 2.3B flight ser
Slide 14: Slide 14