GE Aerospace (GE) official guidance

(a – Adjusted Corporate & Other operating costs\* represents the sum of Corporate & other profit (costs) and (Eliminations). In 2026, the company is expecting this to trend toward the lower end of our prior $(1.2)-$(1.3)B guidance range with ~$(500)M Corporate cost, which is ~flat y/y, and ~$(700)M Eliminations, which is up ~$(100)M y/y.

Expectations for corporate costs and eliminations remain unchanged at $1.2 billion-$1.3 billion.

This reflects higher profit combined with a lower tax rate, which we now expect to be below 16.5% for the year.

The balance will be from a marginal improvement in the tax rate to below 17% and a reduction of 18 million shares from our previously completed and announced capital allocation actions.

| Adjusted EPS\* | $6.37 | $7.65 - $7.85 | $8.00 - $8.10 |

Taken together, we are raising our EPS guidance to a range of $7.65-$7.85, up $0.35 at the midpoint from the high end of the prior guide.

| Adjusted EPS* | $6.37 | $7.10 - $7.40 | $7.65 - $7.85 |

As Larry mentioned, given our strong start to the year, we are trending towards the high end of the range of low double-digit revenue growth, profit of $9.85 billion-$10.25 billion, EPS of $7.10-$7.40, and free cash flow of $8 billion-$8.4 billion for total company.

This translates to EPS of $7.10-$7.40, up nearly 15% at the midpoint.

| Adjusted EPS* | $6.37 | $7.10 - $7.40 |

| Free Cash Flow\* FCF\* conversion-b) | $7.7B 113% | $8.9 - $9.2B >100% | $9.1 - $9.4B >100% |

We are also raising our free cash flow guidance to $8.9 billion-$9.2 billion, up $650 million from the high end of the prior guide, reflecting higher earnings and better working capital performance.

| Free Cash Flow* FCF* conversion-b) | $7.7B 113% | $8.0 - $8.4B >100% | $8.9 - $9.2B >100% |

As Larry mentioned, given our strong start to the year, we are trending towards the high end of the range of low double-digit revenue growth, profit of $9.85 billion-$10.25 billion, EPS of $7.10-$7.40, and free cash flow of $8 billion-$8.4 billion for total company.

We expect to generate $8 billion-$8.4 billion of free cash flow, with conversion remaining well above 100%.

| Free Cash Flow* FCF* conversion-a) | $7.7B 113% | $8.0B - $8.4B >100% |

I think on shop visits, as you said, we are expecting the shop visits to probably grow at kind of a 25% CAGR from now till 2030, and it's all a function of the installed base that's largely out there and will continue to grow over the next couple of years.

In 2026, CES now expects revenue growth of low 20s, up from our prior guide of ~20%, driven by higher services revenue, which we now expect to grow at the higher end of our prior guide of low 20s, and equipment revenue growth of low 20s, up from ~20%. Operating profit is expected to be in the range of $10.5-$10.6 billion, up from our prior guide of $10.25-$10.35 billion, driven by higher services growth and reduced GE9X impact.

CES operating profit is now expected to be in a range of $10.25 billion-$10.35 billion, up $400 million versus the high end of the prior guide.

In 2026, CES now expects revenue growth of ~20%, up from our prior outlook of mid-teens, driven by higher services revenue, which we now expect to grow low 20s, up from mid-teens, and equipment revenue growth of ~20%, up from mid-to-high teens. Operating profit is expected to be in the range of $10.25-$10.35 billion, up from our prior guide of $9.6-$9.9 billion.

We expect $9.6 billion-$9.9 billion of profit, up about $1.2 billion at the midpoint.

| Commercial Engines & Services (CES) Operating Profit | $8.6B | $9.6 - $9.9B |

In 2026, DPT continues to expect revenue growth of low double digits and operating profit of $1.6-$1.7 billion.

We expect DPT profit to be in the range of $1.6 billion-$1.7 billion, up $50 million at the midpoint versus the prior guide, reflecting drop-through from higher revenue.

In 2026, DPT now expects revenue growth of low double digits, up from our prior guide of mid- to high-single-digits. DPT expects operating profit of $1.6-$1.7 billion, up from our prior guide of $1.55-$1.65 billion.

In DPT, we expect mid to high single-digit revenue growth and profit of $1.55 billion-$1.65 billion.

| Defense & Propulsion Technologies (DPT) Operating Profit | $1.5B | $1.55 - $1.65B |

| Operating Profit\* Operating profit margin\* | $9.1B 21.4% | $10.55 - $10.75B | $10.9 - $11.0B |

Operating profit is now projected to be in a range of $10.55 billion-$10.75 billion, with improvement in both segments.

| Operating Profit* Operating profit margin* | $9.1B 21.4% | $9.85 - $10.25B | $10.55 - $10.75B |

As Larry mentioned, given our strong start to the year, we are trending towards the high end of the range of low double-digit revenue growth, profit of $9.85 billion-$10.25 billion, EPS of $7.10-$7.40, and free cash flow of $8 billion-$8.4 billion for total company.

We expect operating profit of $9.85 billion-$10.25 billion, up $1 billion at the midpoint.

| Operating Profit* Operating profit margin* | $9.1B 21.4% | $9.85B - $10.25B |

In 2026, CES now expects revenue growth of low 20s, up from our prior guide of ~20%, driven by higher services revenue, which we now expect to grow at the higher end of our prior guide of low 20s, and equipment revenue growth of low 20s, up from ~20%. Operating profit is expected to be in the range of $10.5-$10.6 billion, up from our prior guide of $10.25-$10.35 billion, driven by higher services growth and reduced GE9X impact.

We expect CES growth of around 20%, up from prior outlook of mid-teens.

In 2026, CES now expects revenue growth of ~20%, up from our prior outlook of mid-teens, driven by higher services revenue, which we now expect to grow low 20s, up from mid-teens, and equipment revenue growth of ~20%, up from mid-to-high teens. Operating profit is expected to be in the range of $10.25-$10.35 billion, up from our prior guide of $9.6-$9.9 billion.

Turning to guidance, starting with CES, we expect mid-teens revenue growth, including services up mid-teens.

| Commercial Engines & Services (CES) Revenue | $31.9B | '+ Mid-teens |

In 2026, DPT continues to expect revenue growth of low double digits and operating profit of $1.6-$1.7 billion.

We expect DPT growth of low double digits, up from mid to high single digits.

In 2026, DPT now expects revenue growth of low double digits, up from our prior guide of mid- to high-single-digits. DPT expects operating profit of $1.6-$1.7 billion, up from our prior guide of $1.55-$1.65 billion.

In DPT, we expect mid to high single-digit revenue growth and profit of $1.55 billion-$1.65 billion.

| Defense & Propulsion Technologies (DPT) Revenue | $12.2B | '+ MSD/HSD |

On Defense and Propulsion Technologies, I think we expect continued kind of mid-single digit revenue growth, some margin expansion that we outlaid back in July.

In 2026, CES now expects revenue growth of low 20s, up from our prior guide of ~20%, driven by higher services revenue, which we now expect to grow at the higher end of our prior guide of low 20s, and equipment revenue growth of low 20s, up from ~20%. Operating profit is expected to be in the range of $10.5-$10.6 billion, up from our prior guide of $10.25-$10.35 billion, driven by higher services growth and reduced GE9X impact.

We now expect commercial equipment to grow around 20%, up from mid to high teens, with LEAP deliveries up high teens from 15% previously.

In 2026, CES now expects revenue growth of ~20%, up from our prior outlook of mid-teens, driven by higher services revenue, which we now expect to grow low 20s, up from mid-teens, and equipment revenue growth of ~20%, up from mid-to-high teens. Operating profit is expected to be in the range of $10.25-$10.35 billion, up from our prior guide of $9.6-$9.9 billion.

We expect equipment up mid to high teens, including LEAP deliveries up 15%, with higher growth from widebody programs.

| CES Equipment Revenue | $7.7B | '+ Mid/High-teens |

We are raising our 2026 guidance across the board, and we now expect 2027 commercial services to grow low-double-digits supported by our over $170 billion commercial services backlog.

We're expecting overall revenue to grow high teens, up from prior outlook of low double digits.

As Larry mentioned, given our strong start to the year, we are trending towards the high end of the range of low double-digit revenue growth, profit of $9.85 billion-$10.25 billion, EPS of $7.10-$7.40, and free cash flow of $8 billion-$8.4 billion for total company.

Looking to 2026, we're poised for another year of substantial revenue, EPS, and cash growth. Demand remains robust, with 2025 orders up 32% and continued backlog growth. This supports our expectation for revenue to be up low double digits, including commercial services up mid-teens.

We raised our full-year guide to the low 20% growth, and now we're expecting services to be up $5 billion year-over-year.

For full year, we are now expecting services revenue is up roughly $4 billion year-over-year from approximately $3.5 billion expected previously, supporting our increase of profit and cash to high end of the range.