GE Completes Sale of Water & Process Technologies Business to SUEZ

BOSTON–(BUSINESS WIRE)–GE (NYSE:GE) announced today it completed the closing of the sale of GE
Water & Process Technologies to SUEZ for $3.4 billion on September 30,
2017.

“The sale of GE Water & Process Technologies is the next step in GE
Power’s business strategy and portfolio transformation,” said GE Power
President and CEO Russell Stokes. “By creating a more simplified and
focused business we’ll be better positioned to leverage Power’s
strengths across the entire electricity value network to serve our
customers and position the business for growth moving forward.”

At the end of October 2016, GE announced plans to sell its Water &
Process Technologies business, in part due to the overlap of certain
product lines with the Baker Hughes business. The merger of Baker Hughes
and GE was officially announced on July 3, 2017.

GE Water & Process Technologies is a worldwide leading systems and
services provider for industrial clients, supplying state-of-the art
water, waste-water and process systems solutions to blue-chip customers.
GE Water & Process Technologies generated approximately $2.1 billion in
revenues in 2016 with approximately 7,500 employees.

Goldman Sachs and Citibank provided financial advice to GE, and Weil,
Gotshal & Manges LLP was GE’s legal advisor.

About GE

GE is the world’s Digital Industrial Company, transforming industry with
software-defined machines and solutions that are connected, responsive
and predictive. GE is organized around a global exchange of knowledge,
the "GE Store," through which each business shares and accesses the same
technology, markets, structure and intellect. Each invention further
fuels innovation and application across our industrial sectors. With
people, services, technology and scale, GE delivers better outcomes for
customers by speaking the language of industry. www.ge.com

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document also includes certain forward-looking projected financial
information that is based on current estimates and forecasts. Actual
results could differ materially.

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