Baker Hughes Company · NASDAQ:BKR
Baker Hughes — Barclays 40th Annual Energy-Power Conference (September 2026)
19 slides from Baker Hughes's conference presentation, Sep 9, 2026
Slide 1: Barclays 40th Annual Energy-Power Conference
1 Barclays 40th Annual Energy-Power Conference Lorenzo Simonelli Chairman & CEO September 9, 2026 Copyright 2026 Baker Hughes Company. All rights reserved. The information contained in this document is proprietary property of Baker Hughes and its affiliates. It is used only for the benefit of Baker
Slide 2: Forward-looking statements disclaimer
2 This presentation (and oral statements made regarding the subjects of this presentation) may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (each a “forward-looking s
Slide 3: Positioned at the center of energy convergence
3 Positioned at the center of energy convergence Enabling the energy system of today while helping build the energy system of tomorrow Global Primary Energy Demand (EJ)1 Energy demand is growing, becoming more 2025-2030 700 CAGR complex and increasingly connected to industrial 600 markets. Hydro +1%
Slide 4: Connecting energy, infrastructure and industrial growth
4 Connecting energy, infrastructure and industrial growth A differentiated portfolio spanning the full energy value chain REPORTING SEGMENTS Oilfield Services & Industrial & Energy Equipment (OFSE) Technology (IET) Chart ENTERPRISE SOLUTIONS CAPABILITIES • Drilling & Completion Systems • Power Gener
Slide 5: Strength across the portfolio creates a powerful foundation
5 Strength across the portfolio creates a powerful foundation Durable growth, expanding margins and strong visibility support long-term value creation OFSE RESILIENCE IET MOMENTUM BAKER HUGHES ex-CHART A stronger, less cyclical franchise Record margins, visibility and services growth Clear path to 2
Slide 6: Enhancing portfolio quality through industrial diversification
6 Enhancing portfolio quality through industrial diversification Chart expands scale, capabilities and growth opportunities Value Drivers 2025 Chart Revenue Mix1 Greater Industrial Exposure: Shifts the portfolio mix towards durable industrial earnings and cash flow Other Industrial Industrial Gases
Slide 7: Key expected financial value drivers for Chart integration
7 Key expected financial value drivers for Chart integration Executing a structured integration focused on synergies, accountability, and performance VALUE DRIVER KEY INITIATIVES FINANCIAL OUTCOME ✓ Standardize performance management Operational Enhancements CHART EBITDA MARGIN TARGET ✓ Value-stream
Slide 8: Chart integration: Operational enhancements
8 1 Chart integration: Operational enhancements Path to structural margin expansion through adoption of Baker Hughes Business System Business System Operating Model and Implementation Timeline Baker Hughes Track Record of Business PHASE 1: 2H’26 System Success (2022-2025) PHASE 2: 1H’27 1 2 Continuo
Slide 9: Chart integration: Expected cost synergies
9 2 Chart integration: Expected cost synergies Clear path to delivering cost synergies through disciplined execution Key Focus Areas Cost Synergies1 SG&A Optimization $35M synergies executed since closing • Eliminate duplicative corporate and functional support costs • Simplify supporting functions
Slide 10: Chart integration: Expected commercial synergies
10 3 Chart integration: Expected commercial synergies Chart expands our capabilities across attractive energy and industrial growth markets COMPLEMENTARY COMPLEMENTARY COMPLEMENTARY CAPABILITIES GEOGRAPHIC FOOTPRINT INSTALLED BASE VALUE CHAIN EXPANSION GEOGRAPHIC SYNERGIES ACCELERATED AFTERMARKET RE
Slide 11: Expanding capabilities in high growth markets
11 3 Expanding capabilities in high growth markets Significantly increasing Baker Hughes’ addressable market with complementary capabilities KEY GROWTH MARKETS KEY GROWTH M A R K E T S: Strong 2030 Expected SAM: customer base BKR ex-Chart GAS GEOTHERMAL DATA CENTERS CCUS SPACE MINING INDUSTRIAL GASE
Slide 12: Geothermal: Powering the future of integrated capabilities
12 3 Geothermal: Powering the future of integrated capabilities End-to-end solutions for conventional and enhanced geothermal developments GEOSCIENCE EXPLORATION & APPRAISAL FIELD DEVELOPMENT PRODUCTION LONG-TERM SERVICES MONITOR & OPTIMIZE Understand the resource Validate resource and Deliver optim
Slide 13: Data Centers: Connecting power, cooling and sustainability
13 3 Data Centers: Connecting power, cooling and sustainability Complementary capabilities expand our role across the data center value chain ASSESS & PLAN DESIGN EXECUTE GENERATE ASSURE OPTIMIZE De-risk resource Integrated campus Deploy power, cooling Deliver reliable Maximize efficiency, Digital c
Slide 14: Updated Baker Hughes FY'26 Guidance
14 Updated Baker Hughes FY’26 Guidance Guidance Assumptions FY’26 Guidance Guidance Assumptions KEY ASSUMPTIONS BKR1 Low Range Midpoint High Range • OFSE and IET remain on track to deliver 3Q'26 and FY'26 guidance, with REVENUE ($M) 28,500 29,400 30,300 2 both segments outlook unchanged ADJUSTED EBI
Slide 15: Evolving into a differentiated energy & industrial leader
15 Evolving into a differentiated energy & industrial leader Enhancing portfolio quality and expanding Enterprise Solutions opportunities Revenue mix shifting toward more industrial markets Horizon 2 & Beyond Deliver Horizon 2 commitments through disciplined 2022 1 execution and Business System exce
Slide 16: Appendix
16 Appendix Copyright 2026 Baker Hughes Company. All rights reserved.
Slide 17: GAAP to Non-GAAP reconciliations
APPENDIX 17 GAAP to Non-GAAP reconciliations Reconciliation of Net Cash Flow From Operating Activities to Free Cash Flow ($ in millions) FY 2023 FY 2024 FY 2025 Net cash flow from operating activities (GAAP) $ 3,062 $ 3,332 $ 3,810 Add: cash used in capital expenditures, net of proceeds (1,016) (1,0
Slide 18: GAAP to Non-GAAP reconciliations
APPENDIX 18 GAAP to Non-GAAP reconciliations Reconciliation of GAAP Operating Loss to Adjusted Operating Income pre-Depreciation and Amortization(1) ($ in millions) Adjusted Operating Income excluding Depreciation and Amortization provides a reference point for Adjusted EBITDA which was not historic
Slide 19: Join us in rewriting The Energy Equation
19 Join us in rewriting The Energy Equation bakerhughes.com @bakerhughesco Baker Hughes bakerhughesco @bakerhughesco Copyright 2026 Baker Hughes Company. All rights reserved.
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