BAKER HUGHES
GE Oil and Gas Overview
Supplemental Transaction Information
Selected Financial Information
November 7, 2016

Additional Information and Where to Find It In connection
with the proposed transaction between GE and Baker Hughes
Incorporated ("BHI"), Bear Newco, Inc. ("Newco") will
prepare and file with the SEC a registration statement on
Form S-4 that will include a combined proxy
statement/prospectus of Newco and BHI (the "Combined Proxy
Statement/Prospectus"). BHI and Newco will prepare and file
the Combined Proxy Statement/Prospectus with the SEC, and
BHI will mail the Combined Proxy Statement/Prospectus to its
stockholders and file other documents regarding the proposed
transaction with the SEC. This communication is not a
substitute for any proxy statement, registration statement,
proxy statement/prospectus or other documents BHI and/or
Newco may file with the SEC in connection with the proposed
transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO
READ CAREFULLY AND IN THEIR ENTIRETY THE COMBINED PROXY
STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY
AMENDMENTS OR SUPPLEMENTS TO THE COMBINED PROXY
STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY BHI OR
NEWCO WITH THE SEC IN CONNECTION WITH THE PROPOSED
TRANSACTION, BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT
INFORMATION. Investors and security holders will be able to
obtain free copies of the Combined Proxy
Statement/Prospectus and other documents filed with the SEC
by BHI and/or Newco through the website maintained by the
SEC at www.sec.gov. Investors and security holders will also
be able to obtain free copies of the documents filed by
Newco and/or BHI with the SEC on BHI's website at
http://www.bakerhughes.com or by contacting BHI Investor
Relations at alondra.oteyza@bakerhughes.com or by calling
+1-713-439-8822.

No Offer or Solicitation This communication is for
informational purposes only and not intended to and does not
constitute an offer to subscribe for, buy or sell, the
solicitation of an offer to subscribe for, buy or sell or an
invitation to subscribe for, buy or sell any securities or
the solicitation of any vote or approval in any jurisdiction
pursuant to or in connection with the proposed transaction
or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention
of applicable law. No offer of securities shall be made
except by means of a prospectus meeting the requirements of
Section 10 of the Securities Act of 1933, as amended, and
otherwise in accordance with applicable law.

Participants in the Solicitation GE, BHI, Newco, their
respective directors, executive officers and other members
of its management and employees may be deemed to be
participants in the solicitation of proxies in connection
with the proposed transaction. Information regarding the
persons who may, under the rules of the SEC, be deemed
participants in the solicitation of proxies in connection
with the proposed transaction, including a description of
their direct or indirect interests, by security holdings or
otherwise, will be set forth in the Combined Proxy
Statement/Prospectus and other relevant materials when it is
filed with the SEC. Information regarding the directors and
executive officers of GE is contained in GE's proxy
statement for its 2016 annual meeting of stockholders, filed
with the SEC on March 16, 2016, its Annual Report on Form
10-K for the year ended December 31, 2015, which was filed
with the SEC on February 26, 2016, its Quarterly Report on
Form 10-Q for the quarter ended September 30, 2016, which
was filed with the SEC on November 2, 2016 and certain of
its Current Reports filed on Form 8-K. Information regarding
the directors and executive officers of BHI is contained in
BHI's proxy statement for its 2016 annual meeting of
stockholders, filed with the SEC on April 11, 2016, its
Annual Report on Form 10-K/A for the year ended December 31,
2015, which was filed with the SEC on February 19, 2016, its
Quarterly Report on Form 10-Q for the quarter ended
September 30, 2016 which was filed with the SEC on October
25, 2016 and certain of its Current Reports filed on Form
8-K. These documents can be obtained free of charge from the
sources indicated above
2

Caution concerning forward-looking statements This
communication contains "forward-looking" statements as that
term is defined in Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation
Reform Act of 1995, including statements regarding the
proposed transaction between GE and BHI. All statements,
other than historical facts, including statements regarding
the expected timing and structure of the proposed
transaction; the ability of the parties to complete the
proposed transaction considering the various closing
conditions; the expected benefits of the proposed
transaction such as improved operations, enhanced revenues
and cash flow, synergies, growth potential, market profile,
customers' business plans and financial strength; the
competitive ability and position of the combined company
following completion of the proposed transaction, including
the projected impact on GE's earnings per share; the
projected future financial performance of GE Oil and Gas, BHI
and Newco; oil and natural gas market conditions; costs and
availability of resources; legal, economic and regulatory
conditions; and any assumptions underlying any of the
foregoing, are forward-looking statements. Forward-looking
statements concern future circumstances and results and
other statements that are not historical facts and are
sometimes identified by the words "may," "will," "should,"
"potential," "intend," "expect," "endeavor," "seek,"
"anticipate," "estimate," "overestimate," "underestimate,"
"believe," "could," "project," "predict," "continue,"
"target" or other similar words or expressions.
Forward-looking statements are based upon current plans,
estimates and expectations that are subject to risks,
uncertainties and assumptions. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary
materially from those indicated or anticipated by such
forward-looking statements. The inclusion of such statements
should not be regarded as a representation that such plans,
estimates or expectations will be achieved. Important
factors that could cause actual results to differ materially
from such plans, estimates or expectations include, among
others, (1) that one or more closing conditions to the
transaction, including certain regulatory approvals, may not
be satisfied or waived, on a timely basis or otherwise,
including that a governmental entity may prohibit, delay or
refuse to grant approval for the consummation of the
proposed transaction, may require conditions, limitations or
restrictions in connection with such approvals or that the
required approval by the stockholders of BHI may not be
obtained; (2) the risk that the proposed transaction may not
be completed in the time frame expected by GE or BHI, or at
all; (3) unexpected costs, charges or expenses resulting
from the proposed transaction; (4) uncertainty of the
expected financial performance of the combined company
following completion of the proposed transaction; (5)
failure to realize the anticipated benefits of the proposed
transaction, including as a result of delay in completing
the proposed transaction or integrating the businesses of
GE, BHI and Newco; (6) the ability of the combined company
to implement its business strategy; (7) difficulties and
delays in achieving revenue and cost synergies of the
combined company; (8) inability to retain and hire key
personnel; (9) the occurrence of any event that could give
rise to termination of the proposed transaction; (10) the
risk that stockholder litigation in connection with the
proposed transaction or other settlements or investigations
may affect the timing or occurrence of the contemplated
merger or result in significant costs of defense,
indemnification and liability; (11) evolving legal,
regulatory and tax regimes; (12) changes in general economic
and/or industry specific conditions, including oil price
changes; (13) actions by third parties, including government
agencies; and (14) other risk factors as detailed from time
to time in GE's and BHI's reports filed with the SEC,
including GE's and BHI's annual report on Form 10-K,
periodic quarterly reports on Form 10-Q, periodic current
reports on Form 8-K and other documents filed with the SEC.
The foregoing list of important factors is not exclusive.

Any forward-looking statements speak only as of the date of
this communication. Neither GE nor BHI undertakes any
obligation to update any forward-looking statements, whether
as a result of new information or development, future events
or otherwise, except as required by law. Readers are
cautioned not to place undue reliance on any of these
forward-looking statements.
3

Building GE Oil and Gas Focusing where technology makes the
difference ($ in billions) $148+ invested 30+ acquisitions

1994 2004 2007 2008 2011 2012 2013 2014 2015 Total OandG
orders $1 $4 $10 $10 $16 $19 $20 $20 $15 NuovoPignone Bently
Nevada vetcogray Sendex Hydril Wellstream Dresser WG Well
Support Naxys Lufkin Superior Ajax (Cameron) Reciprocating
Compression Advantec Veloca A Turbo Machinery company
Developed Service model and expanded in Inspection
Technologies Entered Subsea segment Expanded Capital
Drilling segment Expanded to Flow and Artificial Lift
Integrated and expanded sensing Expanded in Artificial and Rod
Lift segment Continue to build out capabilities to focus on
specific segments
4

Our Product Companies GE Oil and Gas offers its customers a
leading portfolio of advanced technology and optimization
support across all oil and gas segments. We are a
"fullstream" company, upstream to downstream, greenfield to
brownfield, onshore and offshore.
2015 Revenues
$5.4B
TURBOMACHINERY SOLUTIONS
o Gas turbines
o Axial and centrifugal compressors
o Electric motor- driven compressors
o Turboexpanders and heat exchangers
o Modular LNG

$2.3B
DIGITAL SOLUTIONS
o Asset / vibration monitoring
o Pipeline integrity and inspection
o Non-destructive testing equipment and services
o Flow meters
o Installed sensing
o Leak detection
o Nuclear instrument

$2.2B
SURFACE
o Rod lift systems
o Electrical submersible pumps
o Downhole tools
o Surface wellheads
o Logging services
o Service and repair

$4.3B
SUBSEA SYSTEMS and DRILLING
o Subsea trees and wellheads
o Subsea power and processing
o Manifolds
o Flexible risers and flow lines
o BOPs
o Drilling systems

$2.2B
DOW NSTREAM TECHNOLOGY SOLUTIONS
o Steam turbines
o Recip. compressors
o High-speed recip. compressors
o Pumps, valves and fuel gas systems

Note: Revenues across product companies may not add to the
total due to the use of rounded numbers. The mathematical
aggregation of revenue reported for GE O and G's five
sub-segments differs from revenue reported for GE O and G as a
whole due principally to eliminations on inter-sub-segment
sales of products and services, which are reflected as an
adjustment to the revenue reported for GE O and G but not as an
adjustment to the revenue reported for each of the five
sub-segments. In addition, revenue and orders for GE O and Gs
five sub-segments have been recast retrospectively (with no
impact on GE O and G as a whole) to reflect the effect of
internal realignments of individual businesses within GE
O and G.
5

Turbomachinery Solutions Technology leader with
strong differentiation Attractive service business - 10-20+
year contracts GE store: Advanced Manufacturing,
Aeroderivatives Gas Turbines, Predictive Analytics,
technology from Aviation and Power

Key offerings
Gas Turbines
o  Heavy duty
o  Aeroderivative
o  Industrial
Centrifugal compressors
Small-scale and modular liquefied natural gas
Long-term service agreements
Transactional services
Applications
Large scale liquefied natural gas
Offshore power and processing
Oilfield power and gas (re)injection
Pipeline Compression
Small-scale modular LNG
Business drivers
New Units
55% 2015 Revenues
o Greenfield projects: liquefied natural gas, offshore,
onshore fields, pipelines
o  Brownfield extensions and upgrades
o  Delivery ~2 years after order/final investment decision
Aftermarket Services
45% 2015 Revenues
o Long-term agreements (55%) ... typically signed with
equipment award
o  Transactional and event-based (45%)
6

Digital Solutions

Leading positions in high-tech niches Cutting-edge next-gen
measurement and controls GE store: Sensing, Robotics,
Controls, Predix, Asset Performance Management

Core Industries
OIL and GAS
40%
POWER GEN
30%
AEROSPACE
8%
OTHER
22%

Product Line Platforms
Condition Monitoring
o Monitors
o Field devices
o Tech support
o System 1 software
o Machinery diagnostics
Control Solutions
o Control system upgrade/retrofit projects
o Parts and services
o Cyber security
o Software and HMIs
o Mechanical solutions
Inspection Technologies
o Ultrasonic, eddy current
o Remote visual
o CR/DR, X-Ray, CT
o Software
Measurement and Sensing
o Sensors
o Nuclear instrumentation
o Flow (Panametrics)
o Gas and moisture
o Pressure (Druck)
Pipeline Solutions (PII)
o Inspection services O and G transmission pipelines
o Integrity data analysis and engineering
o Software tools
o Remote monitoring
Software and Services
o Software platform apps
o GE Predix  technology
o Plant-wide machinery health services
o Repair and calibration svcs
o Inspection services
7

Surface Short-cycle, service focused offerings, expanding
presence in unconventionals GE store: Material Science for
seals and coatings, High Temperature electronics Key
offerings Major customers '15 Revenue profile Key brands
Production solutions
o  Artificial Lift
-  Electrical submersible pumps
-  Rod lift systems
-  Progressing cavity pumps
o  Well services
-  Production and cased hole logging services, E-line, slickline
-  Pipe Recovery and perforation
International, National, and Independent Oil Companies
EandP operators
NAM ~55% RoW ~45%
Wood Group
Well Support
Evaluation and optimization
o  Downhole tools
o  Drilling measurements and sensing
o  Monitoring and completion systems
EandP operators
Oilfied service companies
NAM 25% RoW 75%
Field Vantage
Pressure control
o  Well control equipment
o  Surface wellheads
o  Production trees
o  Frac rentals and flowback
Mostly Onshore
International, National, and Independent Oil Companies
EandP operators
NAM ~35% RoW ~65%
Wood Group
Well Support
8

Subsea Systems and Drilling Long-cycle, high technology
segment Industry first: 20K PSI BOP, Performance based
contracts GE store: Subsea Processing and Power, Flow
assurance, Aviation product governance Key offerings Major
customers Business drivers Key brands
Subsea Production Systems and Services
o  Trees, Manifolds and Connections
o  Controls and Actuators
o  Wellheads, Connectors and Pipes
o  Power and Processing
o  Life of field management
o  Well construction and intervention
International, National, and Independent Oil Companies
Specialized developers
o  Subsea  project FIDs ... greenfield and brownfield
o  Mid-life upgrades ... electrical submersible pump. controls
o  Well intervention and workover campaigns
Wellstream flexible pipes
o  Flexible production risers, flowlines and jumpers
o  Riser integrity management
International, National, and Independent Oil Companies
Engineering and Procurement Compaies
o  Adoption of flexible risers for FPSO projects
o  Riser integrity management activity
Drilling products and services
o  Blowout Preventers (BOPs)
o  Marine drilling risers
o  BOP controls and monitoring
o  Inspection and repair services
o  Long-term service agreements
Drilling companies
International, National, and Independent Oil Companies
o  Deepwater drilling vessel newbuilds/upgrades
o  Post-Macondo BOP standards
o  Inspection and certification
o  Adoption of performance based service agreements
9

Downstream Technology Large Installed Base More Stable
through cycles GE store: Rotating Equipment Technology,
Predictive Analytics, Steam Turbines Tech Key offerings
Applications Downstream Products and Services (DPandS)
o  Steam turbines
o  Reciprocating compressors
o  Services and diagnostics
Refining, Petrochem and Fertilizers
Process and general industrial
Compression for upstream oil and gas
Major customers
Flow and Process Technologies (F and PT)
o  Valves
o  Pumps
o  Regulators and Actuators
Oil Companies
International
National
Independent
Petrochemical companies
General industrial companies
Reciprocating compression
o  High speed compressors
o  Ajax integral and separable compressors
o  Modular CNG solutions
Business drivers
o DPandS: project business + aftermarket for refineries,
petrochem and fertilizer plants
o  F and PT: project + flow for downstream and process industries
o Reciprocating compressors ... mainly upstream ... gas lift,
natural gas for power generation. Shale gas infrastructure
levered
10

The GE Store in GE, every business can share and access the
same technology, markets, structure and intellect . governed
by culture and simplification.
GE Store principle:
o Contribute
o Crowdsource
o Collaborate
Insourced components:
o Alternators and computational fluid dynamics from Aviation
o Turbine technology from Oil and Gas + Marine to Transportation
o Ceramic Matrix Composites (CMCs), from Oil and Gas to Aviation
o And more ...
Cross-industry technology
Supported by GE Capital:
o Financing infrastructure investments
POWER Combustion science and services, installed base
AVIATION Advanced materials, manufacturing, and engineering
productivity
HEALTHCARE Diagnostics technology--a first-mover and anchor
in growth markets
LIGHTING
LED is gateway to energy efficiency
TRANSPORTATION Engine technology and localization in growth
regions
OIL and GAS Services and technology--a first-mover in growth
regions
RENEWABLE ENERGY
Sustainable power systems and storage
ENERGY CONNECTIONS Electrification, controls and power
conversion technology
GLOBAL GROWTH ORGANIZATION
GLOBAL RESEARCH
CULTURE and SIMPLIFICATION
GE DIGITAL (Predix)
GE CAPITAL (Financing)
11

GE O and G - financial summary
($ in billions)
Summary financials   Orders by geography (FY'15)
2013     2014    2015
Orders   19.9    20.1     15.1
Equip.   10.9    10.2     6.6
Svcs.    9.0     9.9      8.5
Revenue  17.3    19.1     16.5
YoY variance%    10.1%    (13.8%)
Middle East, North Africa and Turkey
~15%
Asia
~16%
NAM
~27%
Latin America
EBITDA%-a)
16.4%    17.5%   18.4%
3.3
Sub-Saharan Africa
~12%
Russia and CIS
Europe
~14%
EBITDA-a)
2.8
3.0
~4%
~12%
Backlog
$23.9    $25.0   $22.9    $21.6
FY'13    FY'14   FY'15
Equipment
Services
13.0     12.0    9.5      7.2
10.9     12.9    13.4     14.4
FY'13    FY'14   FY'15    3Q'16 YTD
Resilient service revenue stream ~2x margin vs Equipment
Note: See footnotes hereto included on page 21, which are an
integral part of the selected financial data. (a- Non-GAAP
measure, EBIT is equivalent to Segment Profit
12

Supplemental Transaction Information
13

Summary of transaction structure

GE contributes GE Oil and Gas and $7.4B of cash, and BHI
transfers its business to the Partnership:
-- BHI transfers 100% of its assets and liabilities to a
newly formed Partnership in exchange for 37.5% of its equity
owned through a newly NYSE listed corporation ("new Baker
Hughes")
-- GE transfers its Oil and Gas business and $7.4B of cash in
exchange for 62.5% of its equity
-- GE's $7.4B cash to the Partnership to be used to fund a
$17.50 per share dividend to the existing Baker Hughes
shareholders
There will be no incremental net debt on new Baker Hughes or
the Partnership as a result of the transaction
-- Neither the Operating Partnership nor BHI will incur any
debt to fund the $17.50 special dividend
-- It is currently expected that the ratings of the new
Baker Hughes will be A+ from SandP and A3 from Moody's At the
closing of the transaction, the Baker Hughes shareholders
will receive Class A shares in the new Baker Hughes on a
one-for one basis (representing their 37.5% Ownership) and
GE will receive Class B shares (which represents its 62.5%
voting ownership)
At the closing of the transaction, the " float" of new Baker
Hughes will be substantially the same as it was immediately
prior to the transaction
-- Baker Hughes shareholders will receive 100% of the class
A shares, which will represent 100% of the free float
The Class B shares held by GE will be subject to the
restrictions in the Stockholders Agreement
62.5%
Shareholders
$17.50/sh dividend 100%
Newco, Inc. (NYSE listed)
37.5%
$7.4B cash
Baker Hughes, a GE company (operating partnership)
GE Oil and Gas
+ $7.4B cash
Both Baker Hughes, a GE Company and NYSE listed Baker
Hughes will file public financials
14

Overview of Shareholders' protections
Board Composition
"New" Baker Hughes board will consist of 9 directors; 4
designated by Baker Hughes and 5 designated by GE
-- GE designees: Jeff Immelt, GE Chairman and CEO, will serve
as "New" Baker Hughes Chairman + 4 other directors
-- BHI designees: Martin Craighead, Baker Hughes Chairman and
CEO, will be "New Baker Hughes" Vice Chairman + 3 other
independent directors
Standstill
Five-year standstill restriction on purchases of "New" Baker
Hughes shares by GE
Squeeze-out Transactions
Majority of minority stockholder approval condition
Approval of Special Committee of independent non-GE directors
Restrictions on Transfer to Third Parties
Two-year lock-up on transfer or sale of any "New" Baker
Hughes shares (includes tax free spin / split-off / RMT),
except to GE affiliates, unless approved by the Special
Committee of independent non-GE directors After year 2,
permitted to sell in a widely distributed public offering or
in connection with the sale of the entire company to a third
party
GE Non- Compete
GE will not compete in the oil and gas business from the
closing until the expiration of a period of 2 years
following the date on which GE no longer controls "New"
Baker Hughes, subject to certain exceptions Source:
https://www.sec.gov/Archives/edgar/data/808362/0000950103160
17539/dp69954_8k.htm
15

2018 New Baker Hughes Pro-forma EBITDA-a)
($ in billions)
~$5.2B
~18.3%
EBITDA Margin
~$5.5B
~19.4%
EBITDA Margin
~$6.4B
~21.5%
EBITDA Margin
As presented on 10/31     Adjusted Normalized run-rate
GE Oil and Gas     $2.4     $2.4    $2.4
Baker Hughes     2.4      2.4     2.4
Cost Synergies   0.6      0.6     0.6
Rev. Synergies   0.1      0.1     0.4
Restructuring
costs / other    (0.3)    -       -
         -$5.2   -$5.5    -$6.4
(a- GE O and G and Baker Hughes estimates; non-GAAP measure
Note: See footnotes hereto included on page 21, which are an
integral part of the selected financial data.
16

Deal valuation overview
($ in billions)
Combined value     Implied Price/sh   Valuation Benchmark
BHI market cap-a)   $23.4
GE Oil and Gas   $28.5
Equity Value  $51.9
Plus: Synergy PV  $13.7
Total New BHI  $65.6
-$55
'18E EBIT $1.8B @ 15.8x
'18E EBITDA $2.4B @ 11.8x

18x EBITDA/EBIT   Through the cycle EBITDA/EBIT %
Average:
OFSE - b)
-11.8x/-18.3x
20% / 17%
OFS-c)
-9.3x/-16.8x
20% / 13%
Value to BHI shareholders
BHI share (37.5% x $65.6B)
$24.6
~$58
Cash dividend
$7.4
Total value to BHI
$32.0
~$76
Total premium:   ~37%
GE O and G selected competitors
Siemens Dover Weir
Flowserve
Honeywell Emerson Dril-Quip
Roper
FMC Technologies Aker Solutions Schlumberger
NOV
(a- Based on undisturbed price
(b- OFSE benchmark includes FMC, Dril-Quip, NOV, Weir, Flowserve
(c- OFS benchmark includes Schlumberger, Halliburton, Baker
Hughes, Weatherford
17

Selected Financial Information
18

GE Oil and Gas selected financial data
($ in millions)
Revenue ($MM)
FY'13 17,341
FY'14 19,085
FY'15 16,450
3Q'15 YTD 12,096
3Q'16 YTD 9,497

Segment Profit / EBIT ($MM)-a)
2,357    2,758   2,427    1,712   981
Segment Profit Margin / EBIT-a)
13.6%    14.5%   14.8%    14.2%   10.3%
Depreciation and Amortization ($MM)
481      585     596      451     434
EBITDA ($MM)-a)
2,838    3,343   3,023    2,163   1,415
EBITDA %-a)
16.4%    17.5%   18.4%    17.9%   14.9%
Capex % of revenue
4.2%     3.4%    3.2%     3.3%    3.2%
Note: See footnotes hereto included on page 21, which are an
integral part of the selected financial data. (a- non-GAAP
measure
19

GE Oil and Gas selected financial data
($ in millions)
FY'13    FY'14   FY'15    3Q'15 YTD        3Q'16 YTD
Revenue ($MM)    17,341   19,085  16,450   12,096  9,497
Equipment        8,852    10,158  8,329    6,182   4,403
Services         8,488    8,926   8,121    5,914   5,093


Sub Segment Revenue ($MM)
Turbomachinery Solutions  5,369  5,787  5,431   3,723 3,123
Digital Solutions         3,131  2,478  2,333   1,701 1,579
Surface  2,468   3,208    2,192  1,736  1,021
Subsea Systems and Drilling 4,115  4,893  4,304   3,289 2,216
Downstream Technology Solutions  2,295  2,705   2,216 1,664
   1,603

Backlog ($MM)    23,869   24,990 22,862 23,125  21,597
Equipment        13,017   12,049 9,454  10,460  7,152
Services 10,851  12,942   13,408 12,665 14,445

Orders ($MM)     19,945   20,072 15,137 11,809  7,740
Equipment        10,935   10,183 6,618  5,397   2,389
Services 9,010   9,888    8,519  6,412  5,351

Sub Segment Orders ($MM)
Turbomachinery Solutions  6,248  6,904  5,088   4,250 2,649
Digital Solutions         3,329  2,570  2,300   1,647 1,553
Surface  2,572   3,291    2,008  1,601  1,087
Subsea Systems and Drilling 5,566  4,340  2,962   2,375 1,005
Downstream Technology Solutions  2,230  2,967   2,778 1,935
   1,446
Note: See footnotes hereto included on page 21, which are an
integral part of the selected financial data.
20

GE Oil and Gas selected financial data

Notes
o Revenue and Segment Profit represent reported
amounts disclosed as industrial operating segment results
within General Electric Company's annual and quarterly SEC
filings, which are prepared in conformity with U.S.
generally accepted accounting principles. Such information
has been prepared solely for purposes of consolidation by
GE, and not for stand-alone financial reporting purposes.

o Segment revenues include revenues and other income related
to the segment. Segment profit is determined based on
internal performance measures used by the Chief Executive
Officer (CEO) to assess the performance of each business in
a given period. In connection with that assessment, the CEO
may exclude matters such as charges for restructuring;
rationalization and other similar expenses; acquisition
costs and other related charges; technology and product
development costs; certain gains and losses from
acquisitions or dispositions; and litigation settlements or
other charges, for which responsibility preceded the current
management team. For each of the years ended December 31,
2013, 2014 and 2015 and for each of the nine-month periods
ended September 30, 2015 and 2016, excluded net charges
(pre-tax) aggregated $0.2B, $0.2B, $0.5B, $0.4B and $0.7B,
respectively. The charges in 2015 and 2016 predominately
relate to restructuring, rationalization and other similar
expenses. Intercompany transactions are reflected in Revenue
and Segment Profit on the basis of GE policies and
procedures.

o Segment profit excludes the portion of earnings or loss
attributable to non-controlling interests of consolidated
subsidiaries, and as such only includes the portion of
earnings or loss attributable to our share of the
consolidated earnings or loss of consolidated subsidiaries.
Segment profit also excludes interest and other financial
charges and income taxes. For purposes of this presentation,
segment profit may also be referred to as EBIT. Certain GE
corporate costs, such as shared services, employee benefits
and information technology are allocated to our segments
based on usage. A portion of the remaining corporate costs
is allocated based on each segment's relative net cost of
operations.

o Revenue, Sub-Segment Revenue and Segment Profit reflect
the historical operations of acquired businesses from their
date of acquisition and the historical operations of
divested businesses through their date of disposal. Such
activities include, but are not limited to:

- the Advanced Sensors and Wayne dispositions within Digital
Solutions on December 19, 2013 and June 20, 2014,
respectively;

- the Industrial Air and Gas Technology disposition and the
Reciprocating Compression acquisition within Downstream
Technology Solutions on June 30, 2015 and June 2, 2014,
respectively;

- the Lufkin acquisition within Surface on July 1, 2013; and

- the Salof acquisition within Turbomachinery Solutions on
May 31, 2013, respectively.

o The mathematical aggregation of revenue reported for GE
O and G's five sub-segments differs from revenue reported for GE
O and G as a whole due principally to eliminations on
inter-sub-segment sales of products and services, which are
reflected as an adjustment to the revenue reported for GE
O and G but not as an adjustment to the revenue reported for
each of the five sub-segments. In addition, revenue and
orders for GE O and Gs five sub-segments have been recast
retrospectively (with no impact on GE O and G as a whole) to
reflect the effect of internal realignments of individual
businesses within GE O and G.
21

GE