2023
Corporate
Sustainability Report
Energizing sustainable changeOur purpose:
We take energy forward, making
it safer, cleaner and more efficientfor people and the planet.
About this report
Our frameworks

Our sustainability report is prepared using the Global Reporting

Initiative’s GRI’s Standards and the Greenhouse Gas (GHG) Protocol

as the foundation of our report. We also provide reporting indices for
the Task Force on Climate-Related Financial Disclosures (TCFD) andthe Sustainable Accounting Standards Board (SASB) and Gas Services
Industry Standard–Extractives and Minerals Processing Sector.

Accessibility and usability

Reports and policies

This report delivers enhancements designed to improve usability:•

Audio features narrate the report for visually impaired,•

Expansion of color palette to support accessibility for visually

readers with dyslexia or other reading impairments.

impaired readers.

Our archived reports and policies are accessible on our website.

Cover photo L to R:
Ishan Jeet, Isabela Vieira, IET

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
1PeoplePlanetPrinciples

AppendicesWho we are

We are an energy technology company.

Our purpose

We take energy forward, making it safer, cleaner
and more efficient for people and the planet.

Sustainability
visionTo be a sustainable pioneer in everything we do,
positioning Baker Hughes as the future energy
technology company of choice.

Our values

Grow

Lead

See challenge asopportunity andlearn every day.

Make, inventand performwith impact.

Collaborate

Care

Inspire, be inclusive
and bring out thebest in each other.

Do the right thing,always for ourcustomers, ourpeople and theenvironment.

Steve Xiong, Electronic Tech, IET

Contents

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Who we are

By the Numbers

Sustainability
2

PeoplePlanetPrinciples

AppendicesTable of contents
A letter from our Chief Executive Officer

5

A letter from our Chief Sustainability Officer

6

Who we are

762

PlanetOur Planet strategy

63

Pioneering low carbon energy solutions to deliver
value for our customers

64

Roadmaps for successfully reaching our goals

65

Scope 1 and 2 greenhouse gas (GHG) emissions

67

Transitioning to renewables

72

Enable our partners to thrive in a low carbon world

74

Approaching scope 3 GHG emissions

75

Our life cycle assessment progress

79

Championing environmental stewardship

80

Managing waste

81

Reducing spills and reporting them transparently

86Managing chemicals

88

Water stewardship89

Protecting biodiversity and natural capital

91

29

Positioning ourselves early as a key technology
provider93

Our People strategy

30

Developing low carbon energy solutions

93

Our People

32

Utilizing geothermal energy

94

Attracting, retaining and developing diverse talent

34

Developing hydrogen solutions

94

Attracting and identifying talent with a purpose

35
38

Increasing our research and development fundingby external sources year-over-year94

A commitment to help our people thrive
Delivering total rewards for employees

43

94Committing to progress on diversity, equity andinclusion46

Climate change as part of the Task Force on
Climate-Related Financial Disclosures (TCFD)

Equipping employees to live and lead inclusively

46

Progressing our diverse supplier program

51

Engaging with communities in which we live and
work

54

Supporting causes and nonprofit organizations
through Baker Hughes Foundation

55

Our business strategy

10

Our economic impact

11

Our values and culture

12

13

Sustainability at Baker Hughes
Sustainability by the numbers

14

Awards and recognition

15

Our approach to sustainability

16

All in. Carbon Out.

18

Our sustainability strategy

20

Materiality assessment

21

Sustainability matters to our customers and investors

23

We drive innovation and technology advancement

24

Investments and partnerships

27

PeopleTable of contents continued on next page

Supporting global communities through volunteerism 56
Embedding sustainability as everyone’s
responsibility

59

The role of people driving change

61

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PeoplePlanetPrinciples

AppendicesTable of contents continued

Principles

97

Our Principles strategy

98

Ensuring sustainable governance99

Our Board of Directors

99

Governance of sustainability

101

Buffering sustainability risks through our Enterprise
Risk Management process

102

Tax

103

Championing ethics and compliance

105

Sustainability Support Center

107

Open reporting and consultation

108

Anti-bribery and anti-corruption

108

Human rights

109

Data privacy and cybersecurity

111

Cybersecurity

112

Upholding the highest HSE standards

113

Occupational safety

113

Our approach to health and safety

114

Our HSE Management System

115

Training to foster a safety culture

116

Taking preventative measures

116

Process Safety Management

117

Supporting workers’ health

118

Security

121

Appendices122

Appendix A: Standard Alignment Tables

124

Appendix B: Statements and Notes with Independent

136

Appendix C: Stakeholder Engagement

164

Accountants’ Report

Performance Index

166

People168

Planet180

Principles

185

Jose Sanchez, Lead Manufacturing Engineer, OFSE

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PeoplePlanetPrinciples

AppendicesA letter from our Chief
Executive Officer
Baker Hughes’ purpose—to take energy forward, making it safer, cleaner and more
efficient for people and the planet—has been at the heart of our business for overa century. As we continue accelerating the energy transition, our mission has neverbeen more relevant.

Climate change is a real and existential challenge of our times. We see its effects
impacting the global economy and how we live daily. The global stocktake

completed in 2023 by the United Nations (UN) at the 28th Conference of Parties(COP28) underscored the importance that action must meet stated emission

reduction ambitions. The urgency to act has never been clearer. Our sponsorship of
COP28 is a testament to our commitment to emissions reduction and supporting amore sustainable, resilient energy future.

With our diverse portfolio of technology, equipment and service solutions for the natural
gas value chain, we are positioned to play a key role to enable energy security andaffordability in a sustainable manner. By leveraging sustainable practices, we have reduced
the carbon intensity of our operations while enabling our customers and partners to meettheir environmental goals using low-carbon and new energy solutions. We are driving

transformative and meaningful change for energy producers and users today to address

In this report, you will learn moredifferentiating capability for Baker Hughes. This enables us to optimize efficiency in thesustainability across our business for a

repurpose, reuse and design our products to reduce our environmental impact.

with a true culture of sustainability will

I’m proud of the terrific progress we’ve made this year across our sustainability framework ofsustainable choices, tackle the hardest

the urgency and scale required to meet the world’s energy demand. Sustainability is a key

about the ways we are embedding

lifecycle of energy production. In support of circular economic practices, we continue tolower-carbon, sustainable future. Only

People, Planet and Principles, including:our people be empowered to makechallenges and take positive action

for the planet. Together, our team of~58,000 employees is committed to

We are advancing our workforce representation and inclusion.
Women in STEM increased by 2.1% points YoY (12.1% to 14.2%).

continually raising the bar.

Our scope 1 and 2 greenhouse gas (GHG) emissions decreased

28.3% from our 2019 base year.

Lorenzo Simonelli

Chairman, President and Chief

We spent $410 million with diverse and small business suppliers
furthering our partnerships with minority-owned businesses andsupporting the local communities.

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PeopleExecutive Officer

PlanetPrinciples

AppendicesA letter from ourChief Sustainabilty Officer
The Paris Agreement’s first global stocktake in 2023 concluded that the world is behind inachieving the goals set out in 2015. UN Global Compact’s Compact’s global private sector

stocktake also highlighted the need for the private sector to accelerate action on sustainable
development goals further.

Baker Hughes is committed to operating sustainably as one of the first companies in our

sector to make a net-zero emissions commitment and as a signatory of the UN Sustainable

Development Goals (SDGs). We have a clear focus on delivering sustainable operations andsolutions for customers with rigor, transparency, data and technological integrity.

In 2023, we worked to activate our sustainability strategy across the Company. Throughour existing corporate sustainability framework—People, Planet and Principles—we havecontinued to support the UN SDGs and move beyond pledges to weave sustainability moredeeply into our culture. We can only deliver on our promises as a company by linking aculture of sustainability to how we solve the biggest challenges.

PeopleOur people are central contributors to our purpose of taking energy forward. We believe

attracting a diverse workforce is critical to our success in support of the energy transition.
In 2023, we saw an increase in women employee representation (19.1% to 19.5%) within the

While pursuing our business andCompany. Executive leadership has sponsored 20+ working groups across the enterprise toembed sustainable practices, thus driving key outcomes in line with our sustainability strategy.

financial objectives, our team adheresto the Code of Conduct and applicablelaws and policies.

PlanetSustainability is at the core of our

We achieved 28.3% reduction in our scope 1 and 2 emissions from our 2019 base year. This

corporate strategy and is one of ouryear, we committed to an internal scope 3 goal — and created the roadmap toward meeting

leading differentiators today. As thethat goal — for each of the ten categories of scope 3 emissions that we have quantified. We

energy transition progresses globally,

empowered our ~58,000 employees to reduce operational emissions through our flagship

I’m incredibly proud of our progress so

Carbon Out program, resulting in over 550 Carbon Out projects commenced or to befar, delivered by our people who drive

implemented.

sustainable practices for Baker Hughes
and the world.

Principles
At Baker Hughes, doing the right thing comes first. We believe that this commitment to integrity
is fundamental to running a sound, successful and sustainable business. Our strong corporate
governance starts at the top with our Board of Directors and cascades down throughout ourbusiness to all levels. One of our standards includes the annual training and acknowledgement

Allyson Anderson Bookof our Code of Conduct, which was completed by 97.5% of employees. We understand that toChief Sustainability Officer

have a sustainable business, we must also engage with our local communities. During thecalendar year, our annual local spend in areas we operate was 80.0% of our procurement spend.

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PeoplePlanetPrinciples

AppendicesWho we are
Our business strategy

10

Our economic impact

11

Our values and culture

12

L to R: Michele Lauriola, Systems Engineering Manager, IET | Inia Oboigbator,
Senior Finance Manager, IET | Ilaria Cabona, Systems Engineer, IET

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Appendices
Baker Hughes7Who we are
Baker Hughes1 is a leading energy technology
company comprised of ~58,000 employees whoharness the power of engineering, data and science
to redefine how all of us will take energy forward.
We conduct business in over 120 countries to provide solutions for our customers in theenergy and industrial sectors. Together, we will make a safer, cleaner and more efficientplanet for everyone.

To accomplish such a feat, we are working to reduce the carbon intensity2 of our operations,applying proven low-carbon technology to help our customers meet their environmental
goals and developing innovative new products and services for the future.

Baker Hughes has a diverse portfolio of technologies and services across theenergy landscape delivered through two business segments.

1

L to R: Amalia Pagliuca, Manuela Tonti, IET

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Baker Hughes Company (“Baker Hughes”, “the Company”, “we”, “us”, or “our”)
Carbon intensity is a measure of carbon dioxide and other greenhouse gases (CO2e) per unit of activity

By the Numbers

Sustainability
8

PeoplePlanetPrinciples

AppendicesWe leverage our corporate
structure to advancesustainable energy.

Our two business segments

Oilfield Services and Equipment (OFSE):

OFSE

IET

Designs and manufactures products andLeading services andLeading industrial andservices for onshore and offshore oilfield
operations across an asset’s lifecycle,

ranging from exploration, appraisal anddevelopment to production, rejuvenationand decommissioning. Beyond its

traditional oilfield concentration, OFSE
is also expanding its capabilities andtechnology portfolio to meet the challengesof the energy transition, including newenergy areas such as geothermaland carbon capture, utilization andproducts provider forenergy technology provider

oilfield operations acrossindustrial applications

onshore and offshore

for LNG, upstream andthe lifecycle of a well,including CCUS,

focused also on newhydrogen and emissions

energy areas such as

management capabilities

geothermal and CCUS

storage (CCUS), strengthening its digitalarchitecture and addressing key energy

Expertise in...

market themes.

Industrial and Energy Technology (IET):
Combines a broad array of domain

Directional drilling

Compression and power generation

services for energy customers, including

Well construction

Equipment and aftermarket services(LNG), pipeline and gas storage, refining,

Production maintenance andenhancement

Condition monitoring and inspection

expertise, technologies, software andon- and offshore, liquified natural gas

petrochemical, distributed gas, hydrogen,

CCUS, clean power and renewable energy.
It also provides cutting-edge technology

for energy consumers and/or organizations
reliant on infrastructure integrity. IET

New energy...

solutions unlock the ability to transform andtransport energy efficiently while reducing
emissions, addressing a fundamental

challenge behind the energy trilemma:
reducing environmental impact while

maximizing efficiency, safety, productivity,

Leveraging subsurface to surface
portfolios for geothermal and carbon
storage solutions

reliability and availability.

Existing core technologies enable
opportunities in carbon capture,hydrogen, clean power solutions andemissions abatement

Figure 1-1: Business Segments

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PeoplePlanetPrinciples

AppendicesOur business strategy
Our business strategy is focused on delivering near-term targets while laying thefoundations for long-term success. Our focus across three time horizons strengthens ourcore competitiveness and delivers higher-productivity solutions today. It also allows us toinvest for growth and position Baker Hughes as a leader in the energy transition. By executing
this strategy, we are delivering sustainable value for our shareholders and stakeholders.

Transform the core
We are transforming our current business to improve margins
and cash flow, which we are achieving through portfolio
rationalization, cost improvement and new business models.

Invest for growth
We are driving organic and inorganic growth in high potential
markets where we have a strong position, including industrial
power and processes, digital enablement, non-metallics andchemicals.

Position for new frontiers
We are making strategic investments to drive lower carbon
emissions in the energy and industrial sectors, includinghydrogen, geothermal, CCUS and clean power solutions.

L to R: Gunalan Mahaathevan, Field Service Engineer,
IET | Teresa Caruso, GTS ASPIRE Program, IET

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AppendicesOur economic impact
During 2023, we built strong momentum, improving our financial results over the prior year. In

OFSE, we saw key commercial successes and solid margin improvements. In IET, we benefited
from robust growth in LNG orders, driving remaining performance obligations (RPO) to levels

For more detail about Baker Hughes’
financial performance, see:to levels that provide meaningful revenue visibility. We also achieved significant increase in
new energy orders compared to 2022 as we continued to experience growing demand for
decarbonization solutions across the Company’s IET and OFSE portfolios.

Our Annual Report

Baker Hughes generated $25.5 billion in revenue in 2023, an increase of $4.4 billion or 21%
from the prior year of 2022. This was primarily driven by increased activity across bothbusiness segments, OFSE and IET.

Table 1-1: Direct and indirect economic impacts (million USD)

2022

2023

Revenue$

20,502

21,15625,506

Total costs and expenses$

19,192

19,971

23,189Payments to providers

$

1,488

1,862

1,633

Payments to governments (net

$

314

498

595

Total charitable pledges and

$

45

75

64

of capital3

cash tax payments)

contributions

3

2021

An organization can calculate payments to providers of capital as dividends to all shareholders, plus interest payments

made to providers of loans

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PeopleLokesh Chandrabalan, Lead Engineer- Manufacturing & Quality, Disciplinary
Engineering and Science, IET

PlanetPrinciples

AppendicesOur values and culture

Our Company is defined by our strong
values and the culture we have built.
These values are straightforward,
memorable and foster an action-

What does it mean?

Why it matters

The energy transition will present

Grow

•

Learn continually•

Be adaptable

See challenge as•Manage ambiguity

opportunity•

Be resilient

Collaborate•

Instill trust•

Communicate openly

Inspire, be inclusive•

Manage conflict•

Value difference•

Partner with

Lead

•

Cultivate innovation•

Empower others

Make, invent and•Be accountable•

Deliver resultsdelivery will differentiate us against

Care

•

Focus on the customer

Every day, people choose to work with•

Develop others

Do the right thing,•

Practice sustainability•

Own integrity•

Be responsible forand learn every day

scenarios we have yet to imagine. By
embracing a growth mindset, we will
be ready to adapt and win.

oriented way of expressing our culture.
Due to these foundations, we have aculture characterized by performance,
inclusion, safety and integrity. Read
more about how our values are driving
change and bringing our culture tolife in the following People, Planet andPrinciples sections.

Grow

Collaborate

Lead

Care

and bring out thebest in each otherperform with impact

always, for

our customers, ourpeople and theenvironment

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Collaboration sits at the heart of ourefforts to transform the core, invest for
growth and position for new frontiers.
Without collaboration, we will notsurvive through the energy transition.

communities

safety, quality andCustomers are looking for strategic

partners as they move forward throughthe energy transition. Our people, ourinnovative solutions and our consistentcompetitors.

Baker Hughes because they know wecare. Our dedication to our people, ourcustomers and the environment, alongwith our relentless focus on doing theright thing, make us a company likeno other.

compliance

Sustainability
12

PeoplePlanetPrinciples

AppendicesSustainability at
Baker Hughes
Sustainability by the numbers

14

Awards and recognition in sustainability

15

Our approach to sustainability

16

Sustainability strategy implementation

16

Carbon Out

18

Our sustainability strategy

20

Our approach to the materiality assessment

21

Sustainability matters to our customers and investors

23

We drive innovation and technology advancement

24

Investments and partnerships

27

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Sustainability Report 2023

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Appendices
Baker Hughes

13

Sustainability by the numbers
at Baker Hughes
People63.7 million$

contributed in cash andin-kind contributions to local
communities

410 million$

Our workforce grew from ~55,000
employees to~ 58,000

spent with diverse suppliers and small
businesses (Tier 1 and Tier 2 combined)

Planet28.3%

reduction of scope 1 and 2

36.0%

reduction of scope 2 market based

27.1%

emissions from our base year

emissions from 2019 base year

hazardous waste produced globally

reduction in the volume ofcompared to 2022 base year

Principles
Recorded 199 Perfect HSE Days andover
1.4 million

safety observations completed

4

YOY: year-over-year

5

ESG: Environment, Social and Governance

6

HSE: Health, Safety and Environment

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Who we are

Sustainability Support Center received
approximately 600 requests, anincrease of
48.5% YOY 4

Sustainability
14641,248
training

hours with our available 230 HSE6
courses

for topics including ESG5
management, social risks, GHG
emissions, emission reduction
initiatives and supply chain

By the Numbers

Employees completed

PeoplePlanetPrinciples

AppendicesAwards and recognition“Industry Mover” by Global S&P

Golden Peacock Award “2023

Sustainability Yearbook 2023

Global Award for Sustainability”
in the Energy Technology sector

Just Capital 2024 Industry Mover

Product Innovation and DesignAward at The Manufacturer MX

Just Capital: ranked ranked

Awards 2023 - Druck

first in Energy Equipment

Energy Equipment and Services

companies

Institutional Investor All-America

Executive Team 2024 - Winners
by Sector - Combined Overall

EcoVadis Silver ESG

Hart Energy’s 2023 ESG Awards:

AA ESG Rating MSCI

Cleaner, Safer, More Diverse

Ally Energy GRIT Best Energy

Workplace (three-time winner)
Ranked fifth in the Fortune Modern

25 Board

Amauro Arsenio, Field Service Engineer, IET

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AppendicesOur approach to sustainability
Our sustainability strategy aligns with our Company’s growth and financial goals which

extend beyond bottom-line considerations. Being a sustainable company means doing
business in a way that allows us to be successful today while ensuring future growth.
Sustainability is fundamental to our Company’s purpose. We operate responsibly tominimize environmental impact and maximize social benefits by by enabling affordable,
sustainable and secure energy production for people and the planet. Our vision is to be“To lead effective change,a sustainable pioneer within the energy and industrial sectors, thus positioning Baker
Hughes as the energy technology company of choice.

we must build a coalition,

Sustainability strategy implementation

create consensus andBaker Hughes’ sustainability strategy underpins our commercial strategy and serves as

facilitate dialogue andprograms focus on reducing risk and meeting business objectives, setting parameters that

productive challenge.”

our roadmap to embed People, Planet and Principles into our business. Our sustainability
guide us as we align with stakeholder priorities. Our People, Planet and Principles focus,

formalized in our publicly disclosed framework, is the playbook that empowers employees— Baker Hughes Change Management Playbook

at all levels to drive sustainable change. With a “top-down” and “bottom-up” approach,fueled by shared purpose and Baker Hughes’ maturity in sustainability, our people aremeasurably driving the shift from aspiration to action—from promises to delivery. We arestrengthening our skills, experience and desire to enable Baker Hughes and our customers
to thrive in a low-carbon world.

Across our global workforce, we are driving a culture shift, embedding sustainablebehaviors and spotlighting the opportunities born out of stakeholder priorities andemerging regulatory requirements.

Our people can intentionally activate change. Our strategy deployment efforts in 2023

More than...

focused on operationalizing 20+ working groups with defined cross-functional andbusiness segment subject matter experts to provide leadership, governance, tools andresources to execute the 30 strategic outcomes outcomes on page 20. We establishedformalized training modules to ensure consistent process and progress.

Our communities of practice are designed to enable cross-company information sharing
and support more effective collaboration to drive sustainable solutions. We continued to

expand our existing communities of practice with significant growth in 2023 for our Carbon
Out network, which focused on identifying and executing emission reduction projects

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16

working groups

30

strategic outcomes

across our locations globally. Read more about our Carbon Out program on p 18.

Contents

20+

PeoplePlanetPrinciples

AppendicesIn 2023, we formalized

three new communities
of practice:Communities of practiceAlso, in 2023, we formally launched our Sustainability Capabilities workstream. This projectused company-specific insights and market-based research to identify roles and skills

Water Management
and Biodiversity

needed for our businesses to meet our goals and those of our customers. This effort drove

enterprise alignment on supporting and adjacent capabilities, building a strong foundationfor our organization to continue progressing and differentiating capabilities through ourtalent processes, operating models, communities and infrastructure.

We engaged employees through voluntary project teams to expand knowledge sharing

and action initiatives. Our change management, communications and sustainability teams
collaborated to conduct stakeholder analysis. These teams helped to implement strategic
action planning and best practices. As a result, employee awareness increased andWaste, Circularity andSustainable Supply Chain

engagement grew.

Policy and Funding

Hannah Jasinski, Product Management, OFSE

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AppendicesAll in. Carbon Out.

Our Carbon Out program is how we empower our employees to operate sustainably,Over 500 employees areprogram, our people actively participate in reducing our operational and value chain

Carbon Out leaders. Carbon

carbon emissions down in our operations. This engagement program provides tools, a

Out gives every person the

reducing operational emissions.

pathway to identify key

with a continued focus to provide our customers with sustainable solutions. Through thisemissions. With sustainable practices and employee-driven solutions, we are able to drive
framework, funding and resources to engage Baker Hughes employees in systematicallyBusiness Need: Our global Carbon Out program is the way our Company takes carbon

projects or initiatives, goingus more sustainable. Becoming a sustainable energy technology company requires a

All in as climate champions

dioxide equivalent (CO2e) of our operations. Every employee has a role to play in making

transformation across many parts of the organization, including our culture. All employees,
despite their roles, can learn how to work and live more sustainably.

to take Carbon Out.

Since its launch in 2021, Carbon Out has engaged and enabled employees and leadersacross Baker Hughes with the knowledge, training and resources to systematically reduce
our CO2e emissions. Our employees are empowered to identify emissions reduction

solutions and projects, which are then reviewed and approved to ensure timely, efficientand cost-effective implementation. We offer learning opportunities and resource groups.
This ensures team members have the knowledge and skills to embed sustainable
practices in their daily work.

Business Impact: As a global program with over 550 projects to be implemented or

We have utilized crowdsourced ideas

commitment to our net-zero goal by identifying and executing projects in 2022 and 2023.

the Company to help build a pipeline of

implementation commenced, our employees and Carbon Out leaders have demonstrated
Employees can consult with their HSE representative, facility team, or Carbon Out leader toand employee-driven initiatives across
new CO2e emissions reduction projects

share their ideas.

for review, consideration and funding.

In 2023, our Carbon Out program expanded in breadth and depth of impact with over 500

campaigns in the last year have

employees that are Carbon Out leaders across both business segments. These employees
represent multiple corporate disciplines, such as HSE, supply chain, sourcing, real estate,

Consistent engagement and awarenessincreased our focus on sustainability

in our operations and contributed to amindset shift among our employees tofield service engineers and finance. The goal of our champion network is to build andadopt more sustainable practices in

execute a pipeline of projects that enable us to achieve CO2e emissions reduction

their day-to-day lives. We believe thisthroughout our operations and value chain.

transformation is foundational to beinga sustainable business.

Through Carbon Out, our employees were provided with educational materials on

sustainability which equipped them with the right knowledge and skill set to identify
qualifying projects. Participants of our core leadership training programs - ASPIRE,

CULTIVATE and IMPACT - were engaged in the Carbon Out program to grow sustainability
skill sets.

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PeoplePlanetPrinciples

AppendicesAll in. Carbon Out. continued

Energy conservation at United Arab Emirates (UAE) facilities
Training our employees in the processes of emission reduction is a huge part of our Carbon
Out program. Our UAE HSE team and the real estate facilities team actively conducted

Carbon Out training for UAE HSE and facility team members, empowering them to identify
opportunities to eliminate energy waste.

One opportunity identified through this training was emissions reductions throughminimization of compressed air leaks. A team in Dubai implemented a system to detect

compressed air leaks and optimize compressors, reducing energy consumption. Knowledge
and best practices have been shared across the region to further expand our energy
reduction efforts.

Supporting UN SDGs:
In support of UN SDG target 7.2: Many of the projects led by our Carbon Out
leaders are initiatives to reduce energy consumption at our facilities and topromote the use of alternative, cleaner energy sources in our operations.

In support of UN SDG target 9.1: Carbon Out is allowing for our people across theglobe to improve the infrastructure of our communities through projects led by
Carbon Out leaders

In support of UN SDG targets 17.16, 17.17, 17.18 and 17.19: Carbon Out is enhancing
our people’s ability to reduce carbon emissions by seeking out partnerships andcollaboration efforts that can spread to other sectors and companies.

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PeoplePlanetPrinciples

AppendicesOur sustainability strategy
Our strategy consists of six goals that serve as the framework for operationalizing sustainability
and will help us to achieve our long-term vision. Our goals are delivered through objectives
linked to the most important issues. Our strategic outcomes are how we measure success.

Our goals

Objectives

Strategic outcomes

Attract, retain anddevelop a diverse
workforce of the future

Ensure we attract, retain anddevelop diverse talent•

Increase women and people of color representation YOY•

Retention parity across under-represented groups

Commit to progress on diversity,
equity and inclusion•

Best-in-class talent management and acquisition•

Achieve top quartile inclusion index rating annually•

Track spend with diverse suppliers•

Invest to support global communitites•

YOY increase on employee volunteer hours•

Company-wide plan aimed at driving habits of sustainability

Become a net-zero businessby 2050•

Reduce scope 1 and 2 greenhouse gas emissions by 50% by 2030•

Reduce scope 3 emissions by 2033

Enable our partners to thrive in a
low-carbon world•

Complete LCAs for the >95% emissions intensive products by 2026•

Reduce waste to landfill by 25% by 2030•

Reduce spills at our sites•

Reduce usage in water stressed sites by 20% by 2030•

Assess 100% of sites for biodiversity risk by 2030 and implement risk
management programs for high-risk sites•

BH positioned early and recognized as key technology provider•

YOY increase in research and development funded by external sources•

100% of targeted personnel training annually on human rights policies
and procedures•Specialized human rights training completed for >80% SSRP auditorsand sourcing by 2025•

Process to record, track and monitor human rights grievancesin place Q1 2024•

100% completion of annual Board training and select executive staff
for ESG-related topics•

Align annual executive compensation to ESG outcomes by 2025•

100% of employees including governance body members completed
Code of Conduct training annually by 2024•

Total Recordable Incident Rate < 0.3•

All Perfect HSE Days•

Active suppliers assessed for environmental criteria every
three years•

90% of SSRP audit red-flag findings closed within 90 days•

90% completion rate for SSRP planned audits•

80% of suppliers agreeing to Baker Hughes Integrity Guide by 2030

PeopleWhat we aim to deliver

PlanetHow we will measure success

Actively engage with communities
in which we live and work

Actively engage
our people and ourcommunities

Embed sustainability as everyone’s
responsibility

Pioneer low carbon
energy solutions todeliver value for ourcustomers

Principles

How we will deliver successChampionenvironmental
stewardship andminimize our footprint

Minimize the resources we use
Reduce spills and report themtransparently

Drive a culture oftransparency andintegrity — doing theright thing beyond
complianceChampion compliance and ethics

Take energy forward
responsibly andwith integrity andtransparency

Uphold the highest health, safety
and environmental standards

Ensure sustainable governance

Strive for principled, diverse andinclusive supply chain

Figure 2-1: Our sustainability strategy

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PeoplePlanetPrinciples

AppendicesBaker Hughes is dedicated to advancing
sustainability practices across our People,
Planet and Principles initiatives.
We seek input from internal and external stakeholders to assess and adjust ourpriorities in response to the evolving global dynamics. Our structured materiality

Identifying and knowingalignment with issues that may impact our business, communities and planet. This

our stakeholders gives

assessment is updated at least biannually and was last updated in 2022.

us valuable insights on

Our approach to the materiality assessment

aspects of the economy,

assessment is a critical foundation for our sustainability strategy and ensures ourenvironment and people

Our materiality assessment was conducted using best practice methodologies

and informed by the guidance of the most widely recognized, including the Global

for Baker Hughes to

Our analysis is primarily based on surveys of stakeholder sentiment on ESG topics

evaluate.

Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB).
and included viewpoints and responses from various stakeholder groups, including

investors, customers, governments, educational institutions, trade associations andemployees, to identify topics of importance. More information is in Appendix C. After
survey data was collected, follow-up interviews were completed and analyzed. We

utilized best practice to position topics relative to the degree of stakeholder interest
and potential business impact on the following materiality matrix. Any of the topics

shown in figure 2-2 represent stakeholder interest. The position on the chart provides
the averaged level of concern or opportunity conveyed by the stakeholder. For a

topic to be shown on the chart, multiple survey participants had to indicate that theissue was of interest.

Contents

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Sustainability Report 2023

L to R: Gunalan Mahaathevan, Field Service
Engineer, IET | Teresa Caruso, GTS ASPIRE
Program, IET

Who we are

By the Numbers

Sustainability
21

PeoplePlanetPrinciples

AppendicesBaker Hughes ESG Materiality (2022)
Higher27
30

28

Important to Stakeholders

10

21

25

23

14

29

16

22
17

31
15

24

20

13
18

12

19

11

26

Lower

Business Impact

HigherPlanetPrinciple

Attracting, Retaining and Developing
Talent10

Air and GHG Emissions Reduction

20

Corporate GovernanceCollaboration with Academia and NGOs

11

Biodiversity Impact

21

Cybersecurity and Data Production

Community Impact

12

Circular Economy and Waste
Management

22

ESG Reporting and Transparency

13

Climate-related Risks

23

Ethics and Compliance

14

Energy Transition Strategy

24

Geopolitical Climate

15

Publicly Stated Net Zero Pathways

25

Global Health Emergency Response

26

Green Investment

16

Research and Development Investment
to Accelerate Energy Transition

27

Health, Safety and Environment
Management

17

Production Emissions

28

Human Rights and Modern Slavery

18

Renewable Energy Sourcing

29

Labor Rights

19

Water Management30

Physical Security

31

Sustainable Supply Chain

PeopleDiversity, Equity and Inclusion
Employee Benefits and Wellbeing
Employee Engagement
Just Transition Principles
Stakeholder Engagement
Supplier Diversity

Figure 2-2: Materiality assessment

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AppendicesSustainability matters to ourcustomers and investors
The increasing demand for efficient and sustainable technologies and end-to-end solutions
from our investors and our customers presents Baker Hughes with an opportunity to leadin the energy transition and sustainability space. We are an early adopter and recognized
leader in sustainability. Throughout 2023, we partnered with customers to support theirsustainability targets and net-zero goals.

Three hard truths
To be an innovative leader offering

We focus on the entire lifecycle of energyof choice, we know we must face someBaker Hughes focuses on the entire energy production and consumption lifecycle to optimize

sustainable solutions and a provider
hard truths head-on.

efficiency, minimize environmental impact at every stage and provide long-term value.

We ensure that the energy solutions provided are sustainable not only for the environment
but also for the economy and society at large. Our technologies and services enable our01

customers to thrive in a low-carbon world by helping their own sustainability profiles, whichis increasingly important to regulators, investors and the public.

Without accelerating the deployment

With our enhanced sustainability solutions our customers can:of current technologies and theKnow their carbon footprint: We provide on-demand, verified emissions data for ourindustry will not meet net-zero targets.

a comparative analysis of quantified emissions. The tool is aligned to ISO 14040/44 and ISO

development of future technologies, the14067:2018 and provides our customers verified GHG emissions footprint of the assessed02

products and/or systems.

Be prepared and ready for upcoming regulatory reporting requirements: As new reporting

Reliance on hydrocarbons will remain in
the near term, so efficiency matters.

03

regulations are introduced, our Company recognizes that we will need to adapt to them. We

will leverage our expertise and resources to ensure compliance while guiding our customers
through this transition period.

New and upcoming regulations, including the European Union’s Carbon Border Adjustment
Mechanism and the Corporate Sustainability Reporting Directive, require our customers toreport embedded carbon emissions on all their imported products and their scope 1 and 2

There’s no path to net zero without

partnerships, integrated thinking andcommon sustainability standards.

Contents

products and solutions through our proprietary Fast Lifecycle Assessment, FastLCA, tool andLetters

Sustainability Report 2023

Who we are

emissions. Our customers will need to collect, verify and report their emissions data. Throughour emissions modeling and life cycle assessments, we can fill this gap in the goods and­ as their supplier — canservices they import or purchase from Baker Hughes, which we —provide through our emissions modeling and LCAs.

By the Numbers

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PeoplePlanetPrinciples

AppendicesWe drive innovation and technology advancement
To meet the global energy demands of today and the future, a variety of efficient processes,
innovative technology and commercially viable energy sources are needed as the world

moves toward a low-carbon energy system. We develop and deliver end-to-end technology

Innovation Awards

to redefine what’s possible in the context of the energy trilemma of sustainability, security

Baker Hughes was recognized as asolutions in key areas across the energy value chain, using engineering, science and data
and affordability. We have world-class material scientists, engineers, skilled technicians

and innovative researchers developing the latest non-metallic, composite and advanced

materials to ensure improved efficiencies and maximum uptime, avoid HSE risks and reduce
costs for operators.

finalist in six categories at the 2023 Gulf
Energy Information Excellence Awards,
reaffirming our position as a leadingenergy technology company. These
categories include:

Our OFSE business segment is expanding its capabilities and technology portfolio to meet thechallenges of a net-zero future. These efforts include expanding into new energy areas such•as geothermal and CCUS, strengthening its digital architecture and addressing key energy(CWI)

market themes and never wavering from a longstanding and recognized commitment tosafety and execution. OFSE also provides integrated well services and solutions to plan andexecute projects ranging from well construction and production through well abandonment,in addition to integrated services and solutions for the subsea environment.

••

As the energy transition advances, we expect our digital offering to scale as customers focus
on efficiencies and emissions reductions and successful commercialization of digital andnew energy solutions in the near term and next horizon. Long term, we expect emissions•

growth across our new energy offerings.

•

Climate technology and innovation•

reductions to become a prerequisite for all energy projects, thus driving significant order

The Climate Technology Solutions (CTS) portion of our Industrial and Energy Technology

Best Completions Technology –Completions and Well Intervention

Best Deepwater Technology – CWIBest Modeling Technology – Process

and Pipeline Services (PPS)Best Production Technology - PPSBest Drilling Technology - Well

Construction

Best Deepwater Technology -Surface and Subseas Production
Systems (S&SPS)

business segment spans CCUS, hydrogen, clean power and emissions management

capabilities. Through new technologies like electric-powered, zero-emissions integrated

compression lines and offshore and onshore decarbonization technologies, Baker Hughesis driving efficiencies and cleaner solutions. We have invested in our technology in order toenable hard-to-abate sectors to progress in their net-zero journey. CTS has seen tremendous
growth, with revenue of $326 million in 2023.

Today, we continue to focus on our research and development efforts towards new

products, services, technology and innovations. Through our technology centers, we invest
in fundamental technologies such as materials, additive manufacturing, sensing, artificial

intelligence, machine learning and other digital technologies such as computer vision, edge
computing and data science.

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AppendicesSpotlights on progress
NovaLT™16 hydrogen turbines
Baker Hughes completed manufacturing and testing of its NovaLT™16 hydrogen turbines in
December 2023 in our Florence facility. Our NovaLT™16 turbine can start-up and burn gas

blends up to 100% hydrogen. It can also switch from natural gas to blends or 100% hydrogenwith no hardware changes. The whole gas turbine package is now ready to run on 100%

We remaincommitted toinvesting in
our products
and services tomaintain ourleadership position
across our offerings,
including $658
million researchand development(R&D) spend andbeing granted morethan 2,000 patents
worldwide in 2023.

hydrogen, with no CO2 emission at the exhaust system.

ThermaStimTM
ThermaStim™ is our new technology that empowers operators to unlock the full potential ofgeothermal energy while reducing environmental risk and carbon footprint. ThermaStim™

is a low corrosive, onsite stimulation system that represents a novel method of harnessing
geothermal energy with improved safety and enhanced production.

PythonPipeTM
Our Flexible Pipe Systems business has launched its new PythonPipe™ portfolio. This

technology enables faster installation, reduced time to first production and lower lifecycle
emissions. The diverse liner options in the PythonPipe™ portfolio provide chemical andpermeation resistance combined with a wide range of reinforcement types, product sizes,
temperature and pressure capacities to address our customers’ diverse needs, all whileachieving up to 75% reduction in carbon emissions throughout its lifecycle.

Compression solutions for CO2 Injection
Our IET business was awarded a contract in the first quarter of 2023, to supply CO2compression solutions for Petrobras’ P-80, P-82 and P-83 Floating Production Storage andOffloading (FPSO) projects in Brazil. The six-gas turbine-driven compression trains aredesigned to reinject more than 1 MTPA of CO2 each into the oil reservoir. This latest contract
will result in Baker Hughes supplying major compression services for all Petrobras’ FPSO
vessels.

Combined cycle for FPSOIn July 2023, Baker Hughes was awarded an order comprised of turbomachinery equipment— including LM2500 gas turbine generators and steam turbine generator technology — for

a combined cycle power generation solution to be installed in the BM-C-33 FPSO to reduce
the project’s carbon footprint, as well as process design engineering, supporting materials

and auxiliary equipment. Combined cycles are an important trend in the offshore oil and gas
industry, as they enable the reduction of the overall FPSO carbon emissions. In this project,

Baker Hughes expects more than 20% emissions reduction versus similar open cycle FPSOs
with the same power demand. This is the second combined cycle power generation FPSO

project developed by Baker Hughes for MODEC and Equinor in Brazilian deep waters, following
the award for the Bacalhau FPSO in 2020.

Angelo Donato, Engineering and Technology Materials and Processes Engineering, IET

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PeoplePlanetPrinciples

AppendicesDigital solutions for more intelligent operations
In January 2023, Baker Hughes introduced multiple new digital solutions and investments
as a result of detailed research conducted with oil and gas, heavy industry and broader

industrial customers and partners. These new digital solutions focus on improving efficiency
and performance while reducing emissions, helping to drive the long-term sustainability of
our customers’ operations.

LeucipaTM
Leucipa™ is a public and private cloud-based automated field production software solution
designed to help oil and gas operators proactively manage production and increaseengineering efficiency. Leucipa focuses first on the specific outcome an operator wants toachieve, harnessing and leveraging data to drive intelligent operations.

The Leucipa technology is now deployed across 20 countries and over 100 reservoirs. Resultson the delivered value to existing customers have been swift and significant, with production
increases upwards of 3% and 75% efficiency gains in engineering time. For one customer inNorth America, Leucipa delivered even greater increases, with a production uplift of 14% andan annualized incremental margin of $6 million across 4,000 wells.

CordantTM
Cordant™ is an integrated suite of solutions supporting industrial asset performance

management and process optimization. Building on our existing portfolio of solutions, suchas rotating equipment, critical sensors, valves, pumps, gears and inspection service domain

expertise, Cordant will combine existing digital offerings for hardware, software and services
capabilities into one integrated and simplified user interface.

The Leucipa and Cordant solutions leverage and enhance our core capabilities by offering
customers a bespoke experience through digital insights gleaned by state-of-the-art

artificial intelligence engines. We remain committed to delivering the best solutions for ourcustomers and staying at the forefront of digital innovation.

L to R: Mike Howe, General Operator, OFSE |Tim Smith, Technician, OFSE | Travis Hinton, Test
Technician, OFSE

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PeoplePlanetPrinciples

AppendicesInvestments and partnerships7
We know that it is critical to partner with companies and organizations committed todeveloping state-of-the-art technologies that enhance our core business offerings andposition us for the future. Our investments in 2023 targeted technologies that promote
our core business operations and capabilities in CCUS, hydrogen, clean power andgeothermal solutions.

The path to sustainable energy production requires focused collaboration with our industrial
partners to bring early technologies to scaled demonstrations and commercial offerings.

Avports
Baker Hughes and Avports have entered into a memorandum of understanding to develop,

implement and operate onsite microgrid solutions for the airport industry. At their managed
airport locations, Avports focuses on airport innovation and sustainability initiatives

that include power resilience and using power solutions such as green hydrogen. With

Baker Hughes’ broad energy technology portfolio, which includes both hydrogen-readyturbines and heat recovery solutions ideal for microgrid applications, this collaboration

will accelerate the adoption and development of customized microgrids to address each
airport’s specific needs.

Baseload Capital
We have made investments in Baseload Capital, a specialized investment entity that funds
the deployment of geothermal heat and power. This investment lays the groundwork forfunding high-potential opportunities for development and operation while simultaneously

propelling next-generation geothermal technologies from pilot stages to commercial scale.

Corva
In January 2023, we announced a strategic investment and collaboration with Corva, a

Houston-based company that delivers cloud-based well construction digital solutions, tobolster oil and gas customers’ rig visualization and drive enhanced decision making acrossthe well lifecycle.

L to R: Rayson Hew, HR Specialist | Chiara Martini,
Industrial Relations Specialist, IET

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Any use of the term “partner” is not meant to refer to the existence of general or limited partnerships.

By the Numbers

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PeoplePlanetPrinciples

AppendicesSpotlights on progress
HIF Global and Mosaic direct air capture
HIF has two pioneering sites where it anticipates possible deployment of Baker Hughes’

Mosaic direct air capture technology. In Magallanes, Chile, the HIF Haru Oni eFuels Facility
began producing its first fuels in December 2022. The eFuels facility produces greenhydrogen from wind electricity and water, then combines the hydrogen with recycled

carbon dioxide to produce eFuels. These are synthetic fuels that can be substituted into

existing vehicles without any modifications to their engines. HIF Global is also completingthe engineering for the first commercial scale eFuels facility in Matagorda County, Texas andexpects to begin construction in 2024.

HyET
Baker Hughes and HyET Hydrogen have entered into a strategic collaboration agreement
related to hydrogen compression. The collaboration aims to combine HyET’s innovativetechnology for electrochemical hydrogen compression with Baker Hughes’ provencompression technology ­— including engineering, research and development andmanufacturing know-how across a variety of pressure applications, to grow and accelerate
the hydrogen market.

Customer collaboration with ADNOC8Baker Hughes and ADNOC announced an agreement to accelerate the development andcommercialization of technology solutions. This includes new growth stage decarbonization
technologies that we have invested in across the graphene, methane pyrolysis and nextgeneration electrolysis spaces. ADNOC will leverage our extensive hydrogen expertiseand broad technology portfolio to test and develop solutions to produce low-cost greenhydrogen and graphene at scale, helping to reduce operational emissions. The collaboration
will include exploring the application of three emerging technologies that we have invested
in: piloting next generation electrolyzer technology from Nemesys, field testing methane
plasma technology from Levidian and testing the growth stage methane pyrolysis
technology of Ekona Power.

Daniel Horvath, Assembler, Artificial Lift Pumps,
OFSE

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ADNOC: Abu Dhabi National Oil Company

By the Numbers

Sustainability
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PeoplePlanetPrinciples

AppendicesPeopleOur People strategy

30

Our People

32

Attracting, retaining and developing diverse talent

34

Committing to progress on diversity, equity and inclusion

46

Engaging with communities in which we live and work

54

Embedding sustainability as everyone’s responsibility

59

Jose Sanchez, Lead Manufacturing Engineer, OFSE

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Appendices
Baker Hughes29

Our People strategy
Baker Hughes has been on a journey of transformation since its inception as an energy

What’s new in 2023

technology company. We have continued to grow throughout this transformation, withIn the following sections, you will
read about actions we have taken
to advance our People strategy,
as well as some of the impactful
initiatives to show our progressagainst our strategic goals. Someheadlines, which will be covered in
more detail, include:

Our sustainability strategy begins and ends with the success of our employees and the

We joined the Tent Coalition for
Refugee Hiring, resulting in five newhires in United States and Canada.

people driving our progress.

communities in which we work. In 2023, our people made a significant impact while building
a diverse and inclusive culture, driving our sustainability responsibility within Baker Hughes
as we progress towards our net-zero commitment.

Over the last year since releasing our sustainability strategy, we have implemented

systematic and foundational changes to deliver progress on our eight strategic outcomes
outlined in our sustainability strategy.

Goals

Objectives

Strategic Outcomes

Attract, retain anddevelop a diverse
workforce of the
futureEnsure we attract,
retain and develop
diverse talent• Increase women and people of color
representation YOY

what we aim to deliver

We built a new training facility in
Florence focused on emerging
technologies, sustainability andinclusion.

how we will deliver success

We introduced an Inclusive
Leadership learning path with32 sessions conducted to equippeople leaders to lead inclusively.
We invested approximately $50
million in Unity Bank, Texas’ soleBlack-owned banking institution,
furthering our commitment tosupport diverse suppliers and small
businesses.
We embedded sustainability
more deeply into the Company bylaunching three new sustainability
trainings for global employees todevelop knowledge, competencies
and necessary skills to deliver
sustainable solutions for the future.

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how we will track progress• Retention parity across underrepresented groups• Best-in-class talent management
and acquisition

Commit to progresson diversity, equity
and inclusion• Achieve top quartile inclusion index
rating annually• Track spend with diverse suppliers

Actively engage
our people andour communities

Engage with
communities inwhich we live
and work• Invest to support global communities• YOY increase on employee volunteer
hours• Company-wide plan aimed atdriving habits of sustainability

Embed
sustainability
as everyone’s
responsibility
Figure 3-1: Sustainability people strategy

By the Numbers

Sustainability
30

PeoplePlanetPrinciples

AppendicesAwards and recognition
Attract, retain anddevelop diverse talentGold Award by the UK Government’s Defense Employer Recognition Scheme

for demonstrating commitment as an employer of choice for Veterans

Three gold and two bronze Brandon Hall awards:

Commit to progressof diversity, equity
and inclusion•

GOLD for “Best Advance in Learning•

BRONZE for “Best Use of Social•

GOLD for “Best Use of Social•

BRONZE for “Best Learning Program•

GOLD for “Best Development Program

Technology Implementation”

Collaborative Learning”

Collaborative Learning”

Supporting a Change Transformation
Business Strategy”

for Frontline Leaders”

Runner-up by Parks LGBT+ Diversity Index 2023, among 85 companies across Italy forour commitment in promoting a culture that supports the LGBT+ community

Best ERG awarded to the Baker Hughes Asian Pacific American Forum (APAF)
Employee Resource Group (ERG) at the 2023 ALLY GRIT Awards

Recognized as “DEI9 best places to work for disability inclusion” by Disability:INwith score of 90%, a 10% increase from 2022

Awarded Prime Supplier of the Year by the Houston Minority Supplier Development
Council for our best practices in our supplier diversity program

Baker Hughes India was recognized with the 10th National CSR Times Award in

Engage with
communities inwhich with live
and work

recognition of Project “Swabhimaan” (meaning ‘self-respect’), a CSR10 initiative on

creating tangible change focused on women’s empowerment and children’s education in
one of the largest slums in Bangalore.

Baker Hughes China was awarded “Top 100 Best Responsible Corporate Brands” andthe “2023 Outstanding Volunteer Program” by CSR China Education Ranking for thevolunteer network’s commitment to making a positive impact.

President’s Volunteer Service Award - Gold Winner by the Houston Food Bank for
the work over the last year which has positively impacted the community.

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DEI: Diversity, Equity and Inclusion

10

CSR: Corporate Social Responsibility

By the Numbers

Sustainability
31

PeoplePlanetPrinciples

AppendicesOur People
Our workforce saw modest growth in 2023 from approximately 55,000 to approximately 58,000. Of that,full-time roles represent 98.7% of our total employees. We offer part-time working arrangements incertain circumstances and regions to meet the needs of our employees and local regulations.
We supplemented the skills of our people, as needed, to react flexibly to business and economic
requirements. We partnered with our suppliers who employed approximately 23,355 contingent workers
that fulfilled various roles across all business segments and regions where we operate. To find additional
employee data, refer to the People Performance Index.

GenderAgeFunction

Seniority
8,959

590
Men: 46,343

30-50: 38,675

Production: 33,445

Commercial: 4,900

Women: 11,200

Over 50: 12,365

Technical: 10,898

Other: 2,019

Undeclared: 26

Under 30: 6,529

Enabling: 6,308

No gender selected: 1

No age selected: 1

Senior Professional Band andabove employees (SPB+)
Executive Band and above
employees (EB+)

Figure 3-2: Employees by gender, age, seniority and job function

636

18,661RCISEUROPE

13,566
NAM

9,935

MENATI

7,199
APAC

NAM: North America

1,152

6,421

SSA

LATAM

LATAM: Latin America
MENATI: Middle East, North

Africa, Turkey and India

SSA: Sub-Saharan Africa
RCIS: Russian Commonwealthof Independent States
APAC: Asian PacificFigure 3-3: Total employees by region11
11

The direction of the arrow in the map graphic denotes if the employee population in that region increased or decreased vs. prior year.

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AppendicesUnderstanding our job functions at Baker Hughes

Technical
Encompasses roles that manage technology capabilities

including technology engineering, project management andsoftware development, among others.

Commercial
Encompasses roles related to selling or advertising ourorganization including sales, marketing, product development
and mergers and acquisitions.

Enabling
Encompasses roles that enable the success of the organization

OFSE is embedding oursustainability strategy.

including finance, human resources, legal, sourcing and othersupport functions.

“Our Oilfield Services andEquipment business is foundedon the talent, innovative spirit andentrepreneurship of our people. We
are committed to their professional
success, working within a diverse
and inclusive culture and providing
best-in-class talent management
and leadership development
opportunities.”

Production
Encompasses roles that drive production of our products andservices including field operations, logistics, manufacturing
and client support services.

Other
Represents roles that have not yet been aligned to the other job
functions at the time of reporting, such as legacy roles from a— Maria Claudia Borras, Executive Vice

President, Oilfield Services and Equipment

merger or acquisition.

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Appendices

YOY data at a glance:
Women in STEM increasedby 2.1% points (12.1% to14.2%)

Attracting, retaining anddeveloping diverse talentThroughout 2023, we remained focused on
attracting, retaining and developing diverse talent.
The current job market is more challenging than ever, with global inflation and the ongoing
Great Resignation phenomenon, causing a surge in competition for talent. However, weare pleased to share some positive news regarding talent retention amidst our businessTotal attrition rate
decreased by 1.8%
points (12.0% to 10.2%)
Voluntary attrition
rate decreased by 1.6%
points (8.6% to 7.0%)transformation strategy.

In 2023, attrition decreased overall and for women, with the strongest decrease for

employees under the age of 30. This reflects our initiatives on our employee value propositionand our attractive, competitive and flexible benefit programs.

The same decreasing trend is represented by voluntary attrition (from 8.6% to 7.0% overall). In
particular for women, we experienced a trend reversal, proven by an improved attrition rateof 8.1% in 2021, 9.3% in 2022 and 7.5% in 2023, in alignment with our inclusive culture.

In 2023, women employees increased from 19.1% to 19.5% due to less women attrition and thesame number of women hired externally compared to 2022.

A positive increase in women’s Science, Technology, Engineering and Mathematics (STEM)
roles reflects our efforts to position our company as an employer of choice.

Increase in women
employee representation
by 0.4% points (19.1% to19.5%)
Increase in people ofcolor representation in the
United States by 2.2%
points (36.1% to 38.3%)

By aligning our culture of inclusion and performance with our strategy, we experienced amarginal decrease in Senior Professional Band and above (SPB+) roles from 16.2% to 15.6%(-0.6% points), while SPB+ women remained almost flat. This trend is partly due to involuntary
attrition linked to our business transformation and operational effectiveness.

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Sorani Montenegro, Staff Engineer, Systems,
Product Design and Engineering, IET | Chika Kejeh,
HQ, Senior Finance Manager - Investor Relations

PeoplePlanetPrinciples

AppendicesAttracting and identifying talent with a purpose
Critical to the execution of our business transformation, we have identified four

differentiating capabilities — essential skills of the future. We believe these are the criticalskills that will address the needs of the energy transition and help differentiate us in themarket.

In 2022, we activated our employee value proposition (EVP) to communicate clear

messaging about our Company, our purpose and our culture, as well as to attract

prospective talent from diverse backgrounds based on our differentiating capabilities

for a competitive talent advantage. We have a compelling value proposition and seek

candidates aligned with our values and culture while aiming to ensure a more efficientand effective recruitment process. By aligning our recruiting platforms with the new
EVP, we created a consistent message to potential candidates leading to improved

candidate expectations.

In the Middle East, North Africa, Turkey and India (MENATI) region, an important aspect

IET is embedding oursustainability strategy.

of our hiring journey over the last few years has been to prioritize the hiring of local

nationals. By building relationships with universities in the region and local partnerships,
we have been able to grow our local national talent. In 2023, we expanded engagement
throughout the region, exemplified by creating an Emirati youth council to attract andretain local nationals in the UAE. Localization efforts and nurturing talent developmentin the communities in which we operate extends beyond the MENATI region, as a key

component of how we do business.

People first, energy forward“Your passion,
our purpose““Your vision,
our innovation““Your
individuality,
our inclusivity““Your potential,
our growth“

Letters

Sustainability Report 2023

Who we are— Ganesh Ramaswamy, Executive

Vice President, Industrial and Energy
Technology

Figure 3-4: Baker Hughes employee value proposition

Contents“Our Industrial and Energy
Technology business segment teamspans multiple industry verticals
and regions. In 2023, we continued
to focus on systems and processes,
enhancing our talent management
and acquisition capabilities, as wellas learning and development andcommunity engagement programs.
We achieved an increased pipelineof diverse talent and embedded
sustainable practices in our IET
operating system, fostering apurpose-driven culture that enables
employees to thrive and do theirbest work each day.”By the Numbers

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AppendicesSpotlights on progress
India - Improving our candidate experience
Strategic Outcome: Increase women and people of color representation
Business Need: Attracting diverse digital expertise in India was an important differentiatoragainst a competitive landscape.

Impact: In India, we hosted a session for 15 women candidates alongside eight womenleaders and senior engineers of Baker Hughes. This session focused on helping thecandidates network with each other and the women leaders at Baker Hughes, while getting

to know the Company. As a result of the engagement and best practices, we saw significant
improvement in the candidate experience and a higher offer acceptance rate.

Italy and United States - Hiring in an inclusive way
Strategic Outcome: Best-in-class talent management and acquisition best practices
Business Need: In 2019 the IET Talent Acquisition team identified a gap that neurodiverse
talent had unmet needs in the hiring process while roles were going unfilled.

Impact: In partnership with Potentia (in North America) and Specialisterne (in Italy), welaunched an autistic designed and led program, intentionally focused on hiring neurodiverse
talent using a strengths-based approach. Since 2020, we have hired digital and information
technology practitioners, sustainability professionals, engineers, data scientists and data

analysts. The program has expanded globally with the central goal of hiring neurodiverse
talent and providing holistic support across those teams. In 2023, we have trained hiring

managers in North America and Italy on best practices to be more inclusive and effective
at hiring neurodiverse individuals. In addition, in North America, we developed guidelinesthat support hiring managers, buddies, mentors and extended teams in the hiring process,while supporting new team members for a strong onboarding experience. In Italy, we havesuccessfully placed the first employee with Down syndrome into a program cohort. These
efforts show that, by leading with a strengths-based approach and the right support, we
enable critical business roles to be filled with skilled and diverse talent of all neurotypes.
Supporting UN SDGs:
In support of UN SDG target 10.2: By 2030, empower and promote the social, economic
and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin,religion or economic or other status. By developing and implementing our strengthsbased approach programs to ensure supportive and inclusive hiring processes, weenable critical business roles to be filled with skilled and diverse talent.

Emmanuel Haastrup, Technician Mechanic, OFSE

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AppendicesIndia and United States - Recruiting women in engineering
Strategic Outcomes: Increase women representation; best-in-class talent management
and acquisition best practices

Business Need: We needed to identify key skills to fill hiring plans while encouraging morediversity in a predominately male field.

Impact: The Baker Hughes Talent Acquisition team held women-only hiring campaigns
for mechanical design engineers in India and field engineers in the United States.

These hiring events enabled us to target specialized skill sets and focus on increasing
women representation, one of our strategic outcomes. At our women-only candidate

events, candidates could learn more about Baker Hughes as a company and our career

opportunities. These events showcased our focus on diversity, inclusion and equity in ouropportunities. As a result of these campaigns, five women mechanical design engineers

were hired in India and 21 women field engineers in the United States were made offers with a
75% acceptance rate.

Baker Hughes proudly joins the Tent Coalition for Refugees
Throughout 2023 our North America Talent Acquisition team has been participating in a

refugee hiring program designed to support refugees with employment opportunities acrossBaker Hughes. These efforts led us to becoming a formal member of the Tent Partnershipfor Refugees in September 2023. Tent is a non-profit
organization that mobilizes businesses to connect

refugees to work through hiring, training and mentorship.
The coalition is made up of more than 350 companies

committed to integrating and supporting refugees. Our

membership not only marks a significant milestone in ourcommitment to inclusive employment practices, but alsoaligns closely with our core values.

As part of our refugee hiring program, we have placed several talented individuals inroles across our organization in the United States and Canada in 2023. Because of Tent’s
international reach we have been able to further our refugee hiring strategy and arecommitted to expanding the program to other countries.

Simona Cozza, Systems Engineer, IET

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AppendicesA commitment to help our people thrive
Critical to our transformation is the investment in our employees and our commitment tohelp our people grow and thrive. Through delivering best-in-class talent management

practices and supporting our employees in their learning and development, we are able toachieve our strategic goals.

TalentManagement

Talent Management

Learning andDevelopment

At Baker Hughes, we believe employees own their careers. To support this, we have

performance management practices that provide feedback and formal reviews to support
and guide employees to reach their fullest potential. Having intentional discussions thatenable employees to grow, learn and advance their skills are an embedded component of
our talent management framework.

Our process has four steps, starting with priority setting focused on identifying goals that
contribute to our business objectives. Having quarterly touchpoint conversations withmanagers once priorities are set gives employees a clear direction on what behaviors tocontinue and how to stay on track. In between touchpoints, employees are encouraged toPriority
setting

Quarterly
touchpoints

End of year
touchpoint

Ongoing
feedback

regularly request and receive feedback from managers and other stakeholders throughformal and informal conversations. The end-of-year touchpoint is a discussion with thedirect manager about how the employees contributed against their priorities, behaviors tocontinue or consider for the next year and development needs for future growth.

Having regular performance and career development conversations enables employees

to identify ways to build key skills and talk about their career aspirations. Employees in theProfessional Band and above (PB+) are required to complete an end-of-year touchpoint,of which 92.1% completed in 2023. While not all employees are required to have an end-ofyear touchpoint, we had 68.4% of all employees complete one with their manager in 2023.

These conversations act as a catalyst for identifying career progression opportunities andin 2023, 4,620 open roles were filled with internal candidates.

L to R: Amauro Arsenio, Juliana Magalhaes, Field
Service Engineers, IET

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AppendicesSpotlights on progressEmpowering employees to grow their careers
Strategic Outcome: Best-in-class talent management and acquisition best practices
Business Need: We wanted to help employees take ownership of their own careerdevelopment.

identified an opportunity to better align the open roles and employees that could benefit“When I look back over the best
times of my 30-year career with
the Company, having and working
with the best teams come first to
mind. Diversity is so important not
only in terms of culture, race, gender
but also in terms of diversity ofthought. I’ve learned that different
perspectives bring different
outcomes and solutions to problems
and also create winning teams andwinning results. The connection
between culture, well-being andgeneral happiness at work directly
correlates to how teams andbusinesses perform and I have foundthat the best performance comesfrom happy and diverse teams.”

information about development opportunities and available or potential open roles. By— Christina Andersen, Vice President,

Impact: Identifying the need to help employees take ownership of their career development
while giving them the tools to achieve their unique career goals, the talent leaders in the
OFSE business developed a framework that empowers employees to focus on growing

their careers through five critical steps. Throughout the year, employees can participate in

information sessions about career development, learn about resources for career paths andleverage additional resources discussed in connection to the framework. Started in 2019 in
the OFSE business, this career development framework has since been leveraged acrossmultiple functions and teams within Baker Hughes.

Removing talent mobility barriers
Strategic Outcome: Best-in-class talent management and acquisition best practices
Business Need: We needed to fill open roles and create opportunities that promote careerdevelopment opportunities for employees.

Impact: To address and fill changing roles in our OFSE and IET businesses, the talent leadersfrom a rotation. In 2023, both OFSE and IET began a talent exchange council to shareintentionally matching this information, it encouraged cross-business and cross-functional
moves, promoting internal talent sharing and removing barriers for internal role mobility.

Industrial Valves and Gears

Amerigo Giorgetti, Lab Technician, IET

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AppendicesLearning and development
Our mission is to enable each employee to be the architect of their own continuous learningand development journey. Learning is an ongoing process that most often occurs throughon-the-job development opportunities, but also by engaging others in social learning

experiences (mentoring, coaching, communities of learners) and through in-person and/or virtual-led courses. At Baker Hughes, our employees have access to more than 85,000

on-demand training courses available in our most commonly used Learning Management

System that can be accessed anytime, anywhere. Our employees spent on average 22 hours
on training in 2023. Prioritizing professional development, furthering job-related skills andenhancing technical knowledge enables us to develop at the scale and speed needed toremain a leading energy technology company.

We offer our employees a unique opportunity to learn through our award-winningsocial learning communities: CORE Values, CORE Strengths and JOURNEY. These learning

frameworks offer collaborative, self-directed learning experiences for any employee eager

to develop critical skills and leadership behaviors. Since launch, over 5,800+ members in 77

countries have benefited from these opportunities, investing ~21,000 hours towards learning
through these voluntary learning communities in 2023.

Our formal leadership development programs (see figure 3-5) play a pivotal role in providing
valuable educational experiences and allow us to build a skilled, diverse talent pipeline

within our organization. We have four programs each with a format designed specificallyto help participants take their careers and abilities to the next level. Continuing this focus in

2023, we evaluated each of the programs and made decisions that allow for a greater overall
learning experience.

In 2023, we saw these programs impacted as a result of these changes in thefollowing ways:• We are in the process of transitioning the ASPIRE program oversight to business segment teams.

This change will give participants more in-depth business experience, guidance and connections
with direct business leaders. While the program was under evaluation, we hired smaller cohorts.
The number of participants in ASPIRE decreased by 14.3%.

• CULTIVATE remains a program designed specifically to develop the employee population that

identify as women. In 2022, we increased program size by 48% but in 2023 we made the strategic
decision to go back to the size of cohorts in prior years to ensure the best overall learning

experience for the participants. The number of participants in CULTIVATE decreased by 46.6%.
• Overall having similar cohort sizes, IMPACT had a slight increase from 32 participants in 2022 to 36
participants in 2023. The number of participants in IMPACT increased by 12.5%.

• ASCEND is a rotational pilot program for veterans transitioning to civilian life. The program grewfrom four to six participants in 2023. This program is intended to be sunsetted in 2024.

Steve Xiong, Electronic Tech, OFSE

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AppendicesSpotlights on progress
Building leadership capabilities inside our OFSE business
Strategic Outcome: Best-in-class talent management and acquisition best practices
Business Need: People leadership skills are a critical enabler of business success. Investingin the professional development of leadership skills equips people leaders to make better
informed decisions.

Impact: Seeing the desire from employees to provide tailored leadership development, the
OFSE talent team revitalized a leadership academy to build skills in leadership, financials,

strategic thinking, emotional intelligence and project management. In 2023, approximately
1,570 employees received over 45,000 hours of face-to-face training in seven different
regions enabling critical skill development.

Investing in a new training facility in Italy
Strategic Outcomes: Best-in-class talent management and acquisition best practices;achieve top quartile inclusion index rating annually

Business Need: We aim to provide a top-tier learning experience that is sustainable,

accessible and inclusive to all internal and external stakeholders participating in our learning
programs.

Impact: We invested in the latest equipment and tools aligned with our strategic focus on

emerging technologies, sustainability and inclusion. Our new training facility is nearly 100%
self-sustaining from an energy perspective, leveraging photovoltaic panels, heat pumps

and smart lighting systems. Through a “Design for All” approach, we collaborated with four
associations representing diverse abilities ensuring an accessible and inclusive campus,

implementing gender-neutral restrooms to high-contrast signage and tactile pavements.
The academy will house an All-Inclusive Room designed to provide an immersive DEI
experience across multiple dimensions. Our goals with the facility are three-fold:• Provide 850+ field service engineers (FSEs) with dedicated career paths, enhancing talentattraction and retention.

• Expand technical training to include soft skills, scenario playing and project management
preparing our FSEs holistically while facing our customers.

• Extend structured paths of technical training to other roles, such as project managers, sales
and commercial operations as they serve new energy transition technologies.

Chris Wilson, Test Technician, OFSE

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Appendices

401

Employees in Leadership
Development Programs

257

36

ASPIRE
program102

IMPACT
program

6

CULTIVATE
programASCEND
program

Early career

Nominated employees

Female talent

Veterans leadership

ASPIRE is our early career

IMPACT is a two to three

CULTIVATE is a 12-month

ASCEND is a two-year

focused on accelerating

for top-performing,

high potential womenhighly qualified juniorincluding three rotations.

The program has a global
footprint with various

jobs. Program members

tailored experiences

leadership competencies

a two-year period,

duty to their first civilian

leadership skills throughboth business depth andlevel professionals overtransitioning from active

the development ofParticipants accelerate

graduates and entry

military officers, who aredesigned to foster

mid-career employees.

the careers of recent

rotational program forprogram dedicated toyear rotational program

development program,

will complete rotations

and senior one-on-one

through global cross-across select functional

mentorship.

functional assignments

and tailored learning andtracks and businesssegments, while receiving

coaching.

functional tracks.

tailored learning andcoaching.

Figure 3-5: Leadership development programs data

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Appendices

Delivering total rewards for employees
Our goal is to deliver consistency and rigor in our total rewards strategies that are tailoredto more than 85 countries where we operate. This requires executing on these programswith excellence by standardizing and maintaining benefits benchmarking required to keep
up with both regulatory as well as market conditions. We also ensure that our total rewards
strategies complement the talent management approaches to enable retention andCompetitivecompensation
and benefits
We believe that fair compensation andincentivize performance and behaviors. This underpins our ability to achieve some of ourbenefit programs are crucial to thestrategic outcomes.

success of any organization. We offer

our employees total rewards packages
tailored for each country and regularly
conduct detailed wage and benefit

Total rewards

analysis to inform the design of ourprograms globally. We conduct gender,race and ethnicity pay equity reviews

as part of our annual processes in the
United States and adjust accordingly.
country
benefits

compensation

We actively manage and review overbonus

220 Company-sponsored healthcare,life and disability programs globally toensure that they are competitive andadd value to our employees. We have

expanded our medical and life insurance
benefit offerings, and these core benefits
are now available in approximately 70
recognition
awardscareerdevelopment

countries, covering more than 80% of ourwork-life
balanceemployees. We also offer, where feasible,
additional flexible benefits promoting

physical, emotional and financial well-being. Read more about our well-being
strategy in the Principles section.

We work to ensure the competitivenessand alignment of our total reward

We invite you to watch one of our sessions from Mental Health Awareness Week 2023.

programs in each market throughregular and robust benchmarking cycles

Keeping Bodies and Minds Safe

that are actively managed against

market peers. These types of analyses

Listen to Kasia Curry, Baker Hughes Global Well-Being Leader; Diana

Lopez Andrade, Baker Hughes Vice President of HSE and Service Delivery;
and Dr. Rodriguez from International SOS discuss how to keep well in thisare the bedrock of our approach todata-driven decision making.

demanding industry.

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AppendicesSpotlights on progress
Deploying our Global Parental Leave policy of a minimum 18 weeks
for primary parent
Strategic Outcomes: Increase women and people of color representation; retention parityof under-represented groups

Business Need: Working across several geographies requires us to take into consideration

Career transitions

time off for new parents. Our commitment to offering inclusive time off policies led us to

Jobs must sometimes change or be

many aspects of our total reward strategies. Not all countries we operate in offer fully paid
the decision to establish a global parental leave policy paid at full base pay regardless ofgender identity in 2022.

Impact: We approved a minimum parental leave of 18 weeks for a primary parent and two
weeks for a secondary parent at full base pay in all countries where we have employees

reduced to meet the needs of ourcustomers, shareholders and our dynamic
business environment. In the unavoidable
event of involuntary workforce

reductions, we comply with local laws andin 2022. In 2023 we began the phased implementation of our Global Parental Leave

requirements regarding notice periods,

policy and the systems to enable those policies. As of the end of 2023, we had completed

engagement with works councils andother processes. We provide severance

implementation in 42 countries, providing new coverage to more than 50% of employees.

payments that meet or exceed local

These expanded global coverage and leave benefits improved protections and ease ofutilization for our employees at a pivotal moment in their lives.

requirements and offer outplacement

Supporting UN SDGs:

We employ forward-looking strategic

assistance and services in many locations.

In support of UN SDG target 3.1: By 2030, reduce the global maternal mortality ratio
to less than 70 per 100,000 live births. Our Global Parental Leave Policy has expanded
parental leave coverage paid at full base pay in all countries where we have employees,
promoting employees to take time off while being compensated.

workforce planning to anticipate workforcechanges and attempt to redeploy orretrain employees where possible.

In support of UN SDG target 5.c: Adopt and strengthen sound policies and enforceable
legislation for the promotion of gender equality and the empowerment of all womenand girls at all levels. Our Global Parental Leave Policy grants a minimum of 18 weeks ofparental leave for the primary parent regardless of gender identity. By removing gender
identity as the determining factor of parental leave, we are enabling a more gender
equitable process.

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AppendicesGlobal benefit offerings:•

Healthcare plans and life insurance

are a core benefit and are provided
in most locations globally.

•

Our Employee Assistance

Program (EAP) provides impartial

professional advice for complex life
situations globally.
Nicoletta Fiore, Senior Engineer, Mechanical,
Disciplinary Engineering and Science, IET•

Fitness reimbursement program

to support health and wellness at
most of our locations.

•

Various leave-of-absence options

help employees achieve higher

quality-of-life needs, including

Prioritizing time to focus on mental well-being, Mental Health Awareness Week

paid global parental leave

regardless of gender, family care

Strategic Outcome: Retention parity of under-represented groups

and vacation.

Business Need: To raise awareness of mental health issues globally, we held a week of global

events with leading experts so that employees can take action to prioritize mental well-being.

•

Impact: In observance of World Mental Health Day, Baker Hughes employees globallyand Permissive Leave for exempt

participated in events with internal colleagues and external experts in support of the theme

employees in United States.

‘Mental health is a universal human right’ to encourage conversations on mental well-being

both in the workplace and at home. The week included relevant topics and resources, including
battling burnout and creating a resilient mindset, as well as hearing from other employees•on their stories in overcoming challenges. The week was also an opportunity to highlightsafety and well-being is the start of the collaborative project between HR and HSE addressing

For new mothers in the UnitedStates, we provide onsite mother’srooms at many sites.

the impact mental strength has on workplace safety, with sessions such as ‘Time 2 Refocus’
discussing the importance and techniques for situational awareness. The connection to

Personal Illness and Personal

Business Leave for non-exempt•

We encourage employees to

explore ways to better balance
work and personal life throughpsychosocial risk (ISO 45003).

arrangements such as flexible
schedules, compressed work

Connecting employees to benefits information online

weeks, hybrid work, remote workand other options.

Strategic Outcome: Best-in-class talent management and acquisition practices•

Business Need: We needed to provide our employees with readily available access to acentralized platform for streamlined benefits transactions and that ensures transparency,

available in most locations globally.

clarity and a user-friendly experience.

Impact: We implemented our digital benefits platform for an additional 4,800 employees•

across seven countries (Hungary, Malaysia, UAE, Oman, Qatar, Kuwait and Bahrain). This was

Financial assistance to employees

pursuing formal education isavailable through the Tuition

an expansion on our existing solutions in United States, Canada and the United Kingdom. As

Reimbursement Program.

a result, approximately 40% of our employees globally now have digitally-enabled benefits

communication and delivery making it easier to access their benefits information on demand.

Employee stock programs andretirement saving plans are•

Financial support is available for

employees in the United States who
adopt a child.

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Committing to progress on DEI
Our steadfast commitment to DEI is not merely part of an effective strategy—it isfundamentally critical to our success.

We are confident that the diversity of our people and an unyielding focus on an inclusive
culture position us well to continue to drive innovation, operational effectiveness andstrong financial performance as we move through the energy transition. In this section,

YOY data at a glance:

15.5% workforce

participates in an
employee resource group(ERG), a 12.2% increase
YOY (8,099 members to
9,085 members)*Diverse supplier andsmall business spend of$410 million (Tier 1 andTier 2 combined)•$379 million•$31 million

in Tier 1 spend

you will read about the progress we have made.

Equipping employees to live and lead inclusively
At Baker Hughes, we value DEI as a cornerstone of our success. Every day, we strive tocreate an inclusive workplace that celebrates the uniqueness of everyone. Progressagainst our DEI strategic goals continues to evolve and we recognize that effort isneeded to ingrain DEI as part of our cultural transformation.

Our inclusion index, established in 2022, scored 70.0% in 2023. This index measures how
well employees feel valued, their sense of belonging, the extent they feel they can bethemselves and how well they feel they are treated. Our culture index, established in

2023, received a score of 66.0%. This measures to what extent employees feel they cantake risks without the fear of negative consequences, how comfortable they are with
our organization’s culture, how well their supervisor helps them to adapt to change

and to what degree they are encouraged to share innovative and creative ideas. As wecontinue to transform for growth, we are evaluating the frequency of these indices toensure we remain focused on the correct actions.

How we define diversity, equity, inclusion and culture:in Tier 2 spend

Diversity

EquityInclusion

CultureThe unique
attributes
we bring as
individuals

Ensuring fairtreatment andaccess to opportunity
to maximize an
individual’s potential

How we value
difference, respect
and interact witheach otherThe set of shared
attitudes, values,
goals and practices
that characterizes
an institution ororganization*We track many other metrics in connection with theobjective of progressing DEI that can be reviewed in
the Performance Index.

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AppendicesWe implemented strategic initiatives
throughout 2023 that will set us up forsteady progress, including:•Further developing our Inclusive

Leadership model (established in 2022),

Spotlight on progress

was introduced in 2023. Participants

Developing the skills to lead inclusively

sessions for Inclusive Leadership, Cultural

Strategic Outcome: Achieve top quartile inclusion index rating annually

as delivering on what they have learned.

Business Need: Giving employees the skills to lead inclusively requires continuous, active

an Inclusive Leadership learning trackearn completion badges for engaging inIntelligence and Unconscious Bias, as well
Read more in our spotlights on progress.
•

Launched the Canada Indigenous

Impact: In partnership with our Learning and Development team, the DEI team launchedknowledge center and supplier diversity

three new courses on Leading Inclusively, Cultural Intelligence and Unconscious Bias. They

access to readily available information.

an inclusive culture. Inclusive leadership shapes the employee experience and workplace

Hosted sessions to enhance awareness,encourages voicing opinions, invites different perspectives and supports well-being.

knowledge center, expanding employees’•

learning at all levels of the organization.

promote support for transgender andnon-binary persons within the workplace

conducted 32 sessions globally to equip employees with the tools that are essential for
culture, creates spaces where employees can bring their authentic selves to work,
Supporting UN SDG:

In support of UN SDG target 10.3: Ensure equal opportunity and reduce inequalities ofoutcome by eliminating discriminatory laws, policies and practices and promoting
appropriate legislation, policies and action. In this regard, we are actively building an
inclusive culture through our Inclusive Leadership framework. All employees globally areable to take the three new courses launched in 2023 to build the tools necessary for an
inclusive culture.

and ensure equality for all individuals,
regardless of gender identity.
•

Launched a Culture and Inclusion Council
comprised of enterprise leaders toensure our organization lives our values,

models behaviors consistently and drives
progress on cultivating a ‘culture of

performance’ and a ‘culture of inclusion.’

Luis Vargas, Shop Operator, IET

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AppendicesBringing DEI to the forefront with a dedicated week of events
Strategic Outcome: Achieve top quartile inclusion index rating annually
Business Need: Spending dedicated time to focus on DEI priorities gives employees theopportunity to drive an inclusive culture.

Impact: Employees in the Europe, North Sea and Caspian (ENSC) region highlighted ourefforts as part of a dedicated DEI week. A series of virtual and in-person events wereorganized by volunteers throughout the region, including: 1) a customer panel session

featuring representatives from Equinor, TotalEnergies and Shell discussing how they are

driving DEI in their own organizations; 2) In-region ERGs hosted several sessions focused on
prominent issues including inclusive leadership, supplier diversity and mental health; and
3) People leader training on supporting new parents returning to the workplace from The“It was fantastic to see somany of our employees
getting involved andsupporting the events. Asa team, we are committed
to supporting DEI, and welook forward to building on
this week, sharing moreof our employees’ stories,celebrating our successes
and continuing to drive
an inclusive culture in our
region.”­ Abdou Beloucif, OFSE ENSC—
Vice President on the ENSC event

Parenting Tribe employee group. With over 900 virtual attendees participating in the opening
event, the week promoted the region’s initiatives, providing information on how to volunteer
and creating thought-provoking conversations about the many aspects of DEI.

Introducing The Parenting Tribe, a new employee group
Strategic Outcome: Achieve top quartile inclusion index rating annually
Business Need: Working parents face unique situations while trying to navigate work-lifebalance, mental well-being and other challenges. Employee communities bring together
colleagues to share information, ideas and experiences while providing a sense ofconnection and community.

Impact: In 2023, we launched The Parenting Tribe, a community of working parents whowant to support each other. The group hosts monthly sessions, allowing members to engage
on parent-related topics and share local resources. The mission of The Parenting Tribe isto ensure no parent feels alone as they navigate work-life balance within Baker Hughes.

These employee groups further our commitment to an inclusive workplace and ensure all
employees have a community. Read a story on the impact of The Parenting Tribe below.

Watch this ENSC DEI Week Video

ce
igen
tell
l In
a
r
tu
ul
C

S e lfA w a re n e s s

Adaptability

nt

Co
mm
itm
e

C

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e ra

bi

li t

y

PlanetPrinciples

AppendicesHow employee groups make a difference,
The Parenting Tribe Story
How did it come about?
The Parenting Tribe was created by relatively new parents at the time, each of whom
experienced their own challenges in returning to work after parental leave. Rhea

Young, a Pressure Pumping Regional Manager in Aberdeen, Stephanie Leckie, aProposals Specialist in Aberdeen and Sophie August, a Learning Community Leader

in Norway, supported each other during and after this transition period. Throughsharing experiences and resources, it became clear that peer-to-peer support forworking parents is a key success factor in balancing work and family life.

In June 2023, they created The Parenting Tribe community to offer other new parents

the same support and sense of community. Since the launch, The Parenting Tribehas grown into a global safe space for people to share, connect and support eachother’s well-being.

Hearing from a member“The Parenting Tribe is our psychologically safe place to share, interact and learn
alongside fellow Baker Hughes employees. Here, we celebrate our diversity andcreate a space for fellow parents to be heard. As parents, we feel we all have our‘unique’ challenges until we share them with others and realize that many of ourcolleagues probably have — or are going through — similar challenges. In this group,
I have the opportunity to share my experiences, my struggles, my successes and mylearnings as a parent of a child of determination (special needs), knowing that mycolleagues are listening to me with compassion and hope.”— Abdul Mujeer Shaikh, Senior Business Development Manager, United Arab Emirates

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AppendicesCelebrating our employee groups and their impact
At Baker Hughes, we believe all employees should feel valued, involved and respected for the
viewpoints, ideas, perspectives and experiences they bring. While traditional ERGs remain afoundational aspect of our inclusion and engagement efforts, we identified an opportunity
to complement our ERGs with less formal community of interest (COI) groups to further theopportunity to provide community, connection and a safe space for employees.

Our eight ERGs have a formal leadership structure and offer many opportunities for

professional growth and development throughout the year. In 2023, total ERG membershipincreased by 12.2% from the prior year with 9,085 employees participating at least one group.
This represents 15.5% of our workforce participating in an ERG. This increased membership isrelated to a strong awareness campaign and membership drive in 2023.

In addition, our COIs are formed by employees to share information and best practices on

a topic. We currently have five COIs that enable employees to collaborate with like-minded
colleagues through more informal engagement, furthering our goals of inclusion andcommunity.

ERGs

COIs

Figure 3-7: Employee resource groups

Figure 3-8: Employee communities of interest

Top L to R: Elvira Giubbolini, Angelo Donato,
Amalia Pagliuca, Bottom L to R: Giulia Contran,
Matilde Acheo, Manuela Tonti, Engineeringand Technology - Materials and Processes
Engineering, IET

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AppendicesProgressing our diverse supplier program
Baker Hughes has identified supplier diversity as a strategic objective in our DEI strategic

framework, as well as the tracking of our diverse supplier spend as one of our sustainability
strategic outcomes. The primary objective is to support and build strong partnerships witha diverse array of local and global suppliers that share our values. We believe that having
an effective supplier diversity program provides a competitive advantage by allowing us
to attract and retain key supplier and client relationships.

Throughout 2023, we prioritized data reliability by reviewing and ensuring that all suppliers
had the appropriate verification and support to substantiate their status as a diverse

supplier. Through increased governance, process improvements and a newly-establishedsemi-annual review process, we are able to ensure consistent data management andprovide accurate, reliable tracking of our suppliers’ diversity status.

“I’m proud of Baker Hughes
for prioritizing supplier
diversity and continuously
seeking to conduct businesswith minority-owned
businesses.”— Lynn Buckley, Supplier Diversity andBusiness Development Sourcing leader

L to R: Aaronica Patterson, Lead Engineer
Chemicals, OFSE | Marissa Dickerson, Product
Performance Engineer, OFSE

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Appendices“As a woman and minorityowned sales tax advisory
practice, our partnershipwith Baker Hughes and the
support we’ve received
highlights the importanceof having dedicatedadvocates within corporate
structures who champion
diverse firms and actively
create environments
conducive to the successof small businesses,
creating a ripple effectthat positively impacts theentire business ecosystem.”— Chanel Christoff Davis, Founder andCEO, Davis Davis & Harmon LLC

Spotlights on progress
Investing approximately $50 million in Unity Bank, Texas’ sole Black-ownedbanking institution
Strategic Outcome: Track spend with diverse suppliers
Business Need: We aim to enable diverse suppliers through purchases and community
support.

Impact: In 2023, Baker Hughes announced an approximately $50 million investment insupport of Minority Depository Institutions to help promote the growth of Black-, Hispanicand Latino-owned small businesses. With our corporate headquarters in Houston, Texas,
we are proud to support Unity National Bank of Houston, the only Black-owned banking
institution in Texas as part of our commitment to increase supplier diversity and create
lasting and sustainable change. This investment will enable Unity Bank to increase its

offerings and drive meaningful impact within the communities it serves. Read more here.

L to R: Deon Harmon | Chanel Christoff
Davis | Terrell Davis | Davis Davis &Harmon LLC - Sales Tax Experts

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Appendices“As a global energy

Grants to support supplier diversity around the worldtechnology company,

Strategic Outcomes: Track spend with diverse suppliers; track spend to support global

we recognize thatpartnering with diverse
suppliers is one of thecommunities

Business Need: We are committed to becoming an industry leader with a diverse andinclusive supply chain that creates value for our customers and is reflective of thecommunities in which we operate. Ensuring a diverse supply chain results in more resilient
communities and stronger business solutions.

ways we can support

Impact: In partnership with the Baker Hughes Foundation, we announced two grants focused

the local communities(HMSDC) and a $100,000 grant to WEConnect International. The HMSCD grant will support

on supplier diversity: a $75,000 grant to Houston Minority Supplier Development Council

where we live andthe implementation of a training program to help entrepreneurs in the Houston area build

work. We believe thatthem and use them as suppliers. WEConnect International is a global network that connects

supporting diverse
teams and suppliers

the skills necessary to grow their business so companies like Baker Hughes are aware ofwomen-owned businesses to companies like Baker Hughes and other qualified buyers

around the world. The grant will help them expand their reach and grow their network of
women-owned businesses.

gives us a competitive

Expanding our Supplier Diversity Champions baseedge and allows us toStrategic Outcome: Track spend with diverse suppliers

provide differentiatedBusiness Need: We promote and encourage the utilization of qualified diverse suppliers andsolutions to energy andinnovation and competitive advantage.

small businesses. This increases competition in the supplier base and ultimately enables

industrial customers

Impact: Our Supplier Diversity Program hosted three Supplier Diversity Days to spreadworldwide. Baker

within our supply chain process to identify the use of diverse suppliers and small businesses.

awareness, engage with employees and educate them on the steps we have embedded

This knowledge empowers employees to be champions for our Supplier Diversity Program

Hughes’ Supplierand promote utilization of these suppliers. These champions often participate at supplier

Diversity program is fully
endorsed and supported

diversity events that enable us to further expand our diverse supplier partners, act as key
information partners and promote our culture of inclusion.

by our executive
leadership team.”— Lorenzo Simonelli, Chairman and CEO

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Engaging with communities
in which we live and work

YOY data at a glance:*Total community
contributions of$64 million dollars

We believe in contributing to the communities
where we live and work by sharing our time,
talent and resources.

Increase of 43.7% involunteer hours (27,181
hours to 39,064 hours)

We are connecting globally and locally in new ways to drive scale and speed on solutions
to humanity’s biggest challenges. We give back through a variety of ways, including

the Baker Hughes Foundation grants, corporate in-kind contributions and our culture ofvolunteerism. In 2023, we more closely engaged our employees to identify the causes andorganizations important to them. Our employees spent more time volunteering in theircommunities, including direct leadership engagement across multiple geographies. In thissection, you will read about the progress we have made.

*Refer to Table 3-1 on page 55 for a more detailed
breakdown of community contributions.

L to R: Mulu Woldeyohannes Hailu, Engineering
Manager Shop Operator, OFSE | Gerald Otoide,
Lead Engineer, OFSE | Himali Devani, Lead
Engineer, OFSE

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AppendicesSupporting causes and nonprofit organizations
through Baker Hughes Foundation
One part of our community strategy is to give not just our time, but also infuse communities
with monetary contributions when and where needed. For over 25 years, the Baker HughesFoundation has been focused on meaningful community impact through giving grants toregistered charities, matching employee contributions and awarding outstanding employee
community service.

In 2023, we established a grant sounding board to help review the charitable organizations
that will receive the strategic grants. The sounding board is an additional strategic stepwhich adds to the already-sound process of the Board of Trustees review procedures. Thisboard is comprised of five senior executives within the Company. By having this robust andmulti-leveled approach, we are able to ensure a repeatable process for reviewing andapproving grants. Throughout the year, $2.4 million was pledged and contributed in strategic
grants through the Baker Hughes Foundation in order to advance the Foundation’s focus
areas of 1) Environmental quality and progress; 2) DEI, education and opportunity and 3)
Health, safety, wellness and disaster relief around the world.

Overall, program communications raised awareness and drove the YourCause platform

adoption, resulting in increased employee-matched financial contributions made by theFoundation as well as increased direct strategic grants in 2023. Our overall total charitable
contributions decreased 15% from 2022 due to a decrease of in-kind contributions. This isanticipated to continue as we shift our strategic focus on the direct impact we can make toour communities through our Baker Hughes Foundation grants and employee volunteerism.

Table 3-1: Year-over-Year Community Contributions

2021

2022

2023

Employee-matched contributions made$669,215756,121855,067

Baker Hughes Foundation financial$

2,578,208

1,992,500

2,427,500

Company in-kind contributions$

41,967,750

72,524,166

60,411,843

Total charitable pledges and$45,215,173

75,272,787

63,694,410

by the Baker Hughes Foundation

contributions

contributions

L to R: Kristi Franks, Materials Planner, OFSE |Paul Stinson, Materials Planner, OFSE | Dustin Abel,
Production Manager, OFSE

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AppendicesSpotlights on progress
We’ve funded one million trees to be planted in support of global reforestation
Strategic Outcome: Invest to support global communities
Business Need: We partner with non-profits to advance environmental quality outcomes,
such as supporting global reforestation and promoting biodiversity efforts globally.

Impact: By issuing our third grant to One Tree Planted, it enabled the non-profit organizationto achieve a total of 1 million trees planted across 17 countries from the Foundation’scontributions. In 2021, the grant helped plant 268,000 trees; in 2022, 350,000 trees wereplanted. The 2023 award will promote global reforestation efforts, in the amount of 382,000
trees, in several areas where Baker Hughes conducts business: the Andes region of South

Supporting global
communities
throughvolunteerism
When our employees volunteer theirtime and energy in their communities,
they are putting ‘Care’ ­— one of our

America, British Columbia in Canada, China, France, Germany, Scotland, Texas in United

core values — into action. In 2023, weStates and Italy. Read more here.

focused on expanding and establishingvolunteering networks globally.

Supporting UN SDGs:
In support of UN SDG target 15.2: By 2020, promote the implementation of sustainable
management of all types of forests, halt deforestation, restore degraded forests andsubstantially increase afforestation and reforestation globally. The Baker HughesFoundation donated three grants from 2021-2023 which helped One Tree Planted in
global reforestation efforts.

These volunteer networks leverage
champions to establish a regularcadence for connecting employeeswith volunteering opportunities in thelocal area. As a result, volunteer hours
were 43.7% higher year over year.

Donations to employee-nominated charities

The Baker Hughes Foundation enables

Strategic Outcome: Invest to support global communities

to communities through the Baker

Business Need: We engage employees to help identify the causes most impactful to their

grant policy. This means employees

employees to amplify their impact

Hughes matching gift and volunteer

local communities.

are eligible for volunteer grants up to

Impact: The Baker Hughes Foundation teamed up with our eight ERGs again to identify which

will be matched dollar-for-dollar

nonprofit organizations (NPOs) would be the recipients of $750,000. While this is the third-

consecutive year the ERGs have nominated NPOs, this year represents a ~275% increase in$500 annually and eligible charities
up to $5,000 per year per employee,

following all policy guidelines. In 2023,

the amount that was given to nominated charities. ERGs have built strong partnerships with

we worked to integrate our Matching

challenges. Collectively, these grants will support an array of causes in North America,

preboarding tools for prospective grant

many nonprofits across the globe to drive social change for some of the world’s toughest

Europe, Asia-Pacific, Middle East, United Kingdom and sub-Saharan Africa. ERGs are one of

the many ways we are able to cultivate an inclusive culture and address the diverse needs
within communities. Read more here.

Gift and Volunteer Grant policy incandidates with a plan to integrate
into each country-level benefits

websites over the next three years to

help spread awareness and maximize
utilization of this benefit and a cultureof volunteerism.

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AppendicesSpotlights of volunteerism:
Volunteers fundraise and donate 100 desks and chairs for schools
in Bonny Island, Nigeria
Supporting UN SDGs:

Strategic Outcome: YOY increase in employee volunteer hours
Community Need: During an outreach visit, a Baker Hughes team observed that

pupils were sitting on the bare floor to learn in their classroom. Given the importance ofconducive learning environments on good education and our belief to support communities,

we took action.

Impact: The employee team organized a charity golf tournament with over 50 golfers fromthe Bonny Island neighborhood. Proceeds were used to purchase 100 classroom desks andchairs for two community elementary schools in Bonny Island, Nigeria. Exemplifying care, we
also prioritize the health and well-being of our people in the communities where we live andoperate.

In support of UN SDG
target 4.a: Build andupgrade education
facilities that arechild, disability andgender-sensitive andprovide safe, non-violent, inclusive andeffective learning environments for all.
The volunteers used funds raised to help
upgrade the learning environment for thechildren at two local elementary schools in
Bonny Island, Nigeria.

Employees donated 320 million steps and raised 120,000 RMB in Beijing, China
Strategic Outcome: YOY increase in employee volunteer hours
Community Need: Baker Hughes China’s commitment to corporate citizenship shines

through in our 2023 volunteer campaign. Five impactful volunteer events took place in 2023,
with a special emphasis on our collaboration with Beijing Daxing Hope School.

In just 66 days,

Impact: One of the five events took place on World Earth Day, where Baker Hughes China

907 employees

launched the second “Walk for Love” online walk donation campaign, rallying employees
to contribute steps towards building new toilets for the Beijing Daxing Hope School. The

school serves migrant children in Beijing. In 66 days, 907 employees from 17 teams spanningfrom 17 teams, spanningand successfully raising 120,000 RMB (~$17,000 USD). The team recorded 6,200 volunteer

locations from China

locations from China and Malaysia donated 320 million steps, covering 200,000 kilometers
hours, the highest number of hours logged globally for one campaign.

and Malaysia, covering

Turning plastic waste into funding for cancer patients in Ciudad del Carmen, Mexico

200,000 kilometers,

donated 320 million

Strategic Outcome: YOY increase in employee volunteer hours

steps, successfully raising

Community Need: Local employees organized a local beach cleanup, where volunteers
prevented debris from reaching oceans and aquatic ecosystems.

Impact: The volunteering activity was part of an initiative organized by our Talent Acquisitionteam with 59 students from local universities. An additional 22 Baker Hughes interns

volunteered for this initiative, mobilizing a total of 78 people for this cleanup. They collected

120,000 RMB, which isalmost $17,000.

32 kilos of waste from a local beach and separated the plastic to be donated to a localorganization, Fundación AYABS, which will sell the plastics and then donate the proceeds
to their Cancer Patients Fund. This event not only helped clean up a local beach but
transformed the waste into support for childhood cancer research.

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AppendicesMap of volunteerism events that show impact

Employees have donated hundredsof hours, facilitating 45,960 meals
to the local community through the
Houston Food Bank.

Baker Hughes China’s 2023 “Act for
A Better Future” volunteer campaign
marked a tremendous success, securing
two awards. With a focus on supporting
migrant rural and urban children by
online teaching, campus construction andmaterial donations. Notably, almost halfof our Baker Hughes China workforce —nearly 950 individuals — participated inthese events.

Volunteers cleaned up a garden
area used to meet sensory needs
and provide a supportive learning
environment for children at The
Ravenswood School in Nailsea,
UK who have been determined tohave complex and severe learning
difficulties resulting in unique needs.

Volunteers cleaned up a local
beach and separated the plastic to
be donated to a local organization,
Fundación AYABS, which sells theplastic and donates the funds tosupport children being treated forcancer.

28 volunteers helped reforestation
efforts in Florence, Italy by planting 125
trees across 11 species in partnershipwith Soul food Forestforms, anenvironmental non-profit focused onreforestation.

Teams organized a charity golf
tournament with over 50 golfers
from the Bonny Island neighborhood.
Proceeds were used to purchase 100classroom desks and chairs for two
community elementary schools in
Bonny Island, Nigeria.

Baker Hughes employees, including
CEO Lorenzo Simonelli, came together
during COP28 to spend time withspecial needs children and give backto the community through Senses
Center, a local non-profit in Dubai
dedicated to improving the lives ofpeople and catering to special needs,orphaned and abandoned children.

Figure 3-9: Map illustration of some global volunteer events in 2023

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AppendicesEmbedding sustainability as
everyone’s responsibility
Driving change towards sustainable energy development requires a sustainability mindset

across all employees. Through specific efforts geared at embedding habits of sustainability
across our businesses and functions, our people help us take energy forward, delivering ourstrategy — for people and the planet. In this section, you will read about the progress wehave made.

Sustainability is not new at Baker Hughes, as we have published a corporate responsibility

report since 2018. With the external publication of our sustainability strategy in May 2023, we
focused on deepening the understanding of our sustainability goals across our employeebase. Through the implementation of a company-wide engagement plan, we have focusedon a streamlined and consistent approach to talking about our sustainability strategy.
creating and implementing the engagement plan:

02

03

1,114 members

in Renew communityof interest group as ofDecember 2023

1,252 trainings

In order to make progress on this strategic objective, we set out three main goals when01

Data at a glance:

Embedding sustainability as part of the core activities all employees prioritize day-to-day,along with HSE, quality, ethics and diversity and inclusion

completed of new
sustainability modules
launched

Increasing awareness of our sustainability strategy goals and how we are approaching
implementation

Strengthening the value proposition of our sustainability strategy for Baker Hughes and our
key stakeholders

Bill Izekor Nosa, Shop Operator, IET

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AppendicesSpotlights on progress
Growing sustainability skills with three new sustainability training modules
Strategic Outcome: Company-wide plan aimed at driving habits of sustainability
Business Need: The launch of the strategy in May 2023 combined with a growing request fortraining brought to light the need to build basic capabilities on sustainability topics for all
employees.

Impact: In a phased approach throughout 2023, the Sustainability team launched three
new trainings to equip all employees with the knowledge and skills needed to grow theirunderstanding in sustainability. These quick, high-level modules are a self-guided andself-paced training that can be completed in no particular order. At the end of 2023,~1,252 employees had already completed at least one of the three modules showing thecommitment to developing sustainability capabilities of our employees.

Launched CORE Strengths Sustainability learning path
Strategic Outcome: Company-wide plan aimed at driving habits of sustainability
Business Need: Learning requires continuous effort and engagement. To fully embedsustainability, we needed a learning path to enable true development.

Impact: In October 2023, we launched the Sustainability learning path to give employees

access to additional curated content to develop their sustainability capabilities. This learning
path is based on a three-prong approach of employees learning, engaging and applying
their knowledge through an activity of their choosing, such as leading a team discussion
or delivering a project. When an employee successfully completes the learning path

requirements, they are awarded a virtual badge that can be shared externally on LinkedIn
in recognition of their effort. This learning path content is continuously being refreshed

and allows employees an opportunity for specially curated online learning sessions onsustainability, deep dives with sustainability experts on topics, discussion with peers and to
apply what they learn.

Engaging employees through speaker series sustainability topics
Strategic Outcome: Company-wide plan aimed at driving habits of sustainability
Business Need: We utilize our existing stakeholder partnerships to bring relevant insights
directly to employees. By doing so, employees can identify ways to make an impact intheir roles.

Impact: The Let’s Talk Sustainability speaker series provides insights and enhances

knowledge sharing by presenting a diverse offering of content from internal and external

subject matter experts. Of the four sessions hosted in 2023, three were with external speakers
and had employees from all over the world joining these sessions. Our customers, partners

and other stakeholders covered key topics affecting Baker Hughes including Just Transition,
carbon border adjustment mechanisms and more. The series presents an opportunity for
employees to engage with global thought leaders and gain valuable insights into current
sustainability topics, issues and trends shaping the future of energy.

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The role of people in driving change
Leaning into our employee’s innovation mindset has been key to energizing and reaching
our teams. Empowering employees to identify the opportunities to embed sustainability

where and how it fits into their team provides ownership and accountability. Our Carbon Out

program, for instance, aims to educate and empower every employee to have an active rolein our emission reduction efforts. Our ability to engage our people underscores the valueof teamwork and diverse perspectives, while also providing an opportunity for professional
development.

Collaborating with talented colleagues accelerates our ability to deliver on our sustainability
commitments. The Renew COI group is dedicated to fostering a global community within
Baker Hughes where employees collaboratively share insights, ideas and actions that

promote sustainable working and living. Over the last year, Renew has grown its membershipto 1,114 global members through membership drives and more active employee volunteering
leadership engagement.

Spotlights on progress
Leveraging the Renew COI to accelerate change, 2023 Earth Day Challenge
Strategic Outcome: Company-wide plan aimed at driving habits of sustainability
Business Need: Our annual Earth Day Challenge demonstrates how we can collectively havea large impact on the planet, no matter how small our individual or team’s actions are.

Impact: With over 80+ submitted Earth Day events, more than 1,000+ employees from aroundthe globe came together to celebrate Earth Day throughout the month of April showing how
Baker Hughes employees and teams are being sustainable. The 2023 annual event proved

to be the biggest one yet, bringing together participation from all eight ERGs. In recognitionof their commitment to operating sustainably and for exemplifying our Company values,
employees were awarded volunteer recognition grants by the Baker Hughes Foundation,
which they can use to donate to an eligible charity of their choice.

80+

Earth Day events
around the world

1,000+

8 ERGsPeoplePrinciples

Employees
participants

Bringing together
all ERGs

Isabela Vieira, ASPIRE Associate - Finance, IET

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PlanetAppendicesPlanetOur Planet strategy

63

Pioneer low carbon energy solutions to deliver value forour customers

64

Enable our partners to thrive in a low-carbon world74

Champion environmental stewardship and minimize our footprint

80

Position ourselves early as a key technology provider

93

Climate change as a financial risk and opportunity

94

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Baker Hughes62

Our Planet strategy
Baker Hughes is passionate about driving emissions reductions consistent with the 1.5°C

What’s new in 2023

temperature goal of the Paris Agreement, reaching net zero operational emissions by 2050.

In the following sections, you will
read about actions we’ve taken
to advance our Planet strategy
as well as some of the impactful
initiatives to show our progress.
Some headlines, which will becovered in more detail, include:

our Planet strategy framework allows us to track our impact — guiding, measuring andOur scope 1 and 2 GHG emissions
decreased 28.3% from our 2019base year.
Scope 1 and 2 emissions intensity
decreased by 33.0% compared to
the 2019 base year.

As we navigate towards more sustainable operations for Baker Hughes and our customers,
driving our progress. The framework consists of two environmentally-focused goals andfour supporting objectives.

Goals

Objectives

Strategic Outcomes

Pioneer low
carbon energy
solutions todeliver value forour customers

Become a net-zerobusiness by 2050

• Reduce scope 1 and 2 greenhousegas emissions by 50% by 2030

what we aim to deliver

how we will deliver success• Reduce scope 3 emissions by 2033
• Complete LCA for the >95% emissions
intensive products by 2026

We continued to advance
automation of emissions data andstrong internal controllership of all
Planet data.
We expanded the breadth anddepth of our Carbon Out program
to include scope 3 emissions.
We drove the adoption of our
proprietary FastLCA tool while
completing 313 LCAs, a 627.9%
increase YOY.

Enable our partners
to thrive in a low
carbon world

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Who we are• Baker Hughes positioned early
and recognized as key technology
provider• YOY increase in research anddevelopment funded by externalsources

Championenvironment
stewardship andminimize ourfootprint

Minimize theresources we use• Reduce waste to landfill by 25% by
2030• Reduce spills at our sites

Reduce spills
and report themtransparently

Total hazardous waste volume was
reduced 27.1% from our 2022 baseyear.
Significant spills decreased by
35.3% and chemical spills also
decreased by 70.9% compared to2022.

how we will track progress• Reduce usage in water stressed sites
by 20% by 2030
• Assess 100% of sites for biodiversity
risk by 2030 and implement risk
management programs for high-risksites

Figure 4-1: Sustainability Planet strategy

By the Numbers

Sustainability
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PeoplePlanetPrinciples

Appendices

Data at a glance comparedto our 2019 base year:

Pioneer low carbon energy
solutions to deliver value forour customers

Our overall scope 1 and 2
emissions decreased by

28.3%

Scope 1 fleet emissions
decreased by 34.4%

We are committed to reducing our GHG emissions
through our strategic goals:

Scope 1 facilities emissions
decreased by 34.2%

Reduce scope 1 and 2 emissions by 50% by 2030
Achieve net-zero emissions for scope 1 and scope 2 by 2050
Reduce scope 3 emissions by 2033

Scope 1 field emissions
decreased by 7.3%
Scope 2 emissions
decreased by 36.0%

As an energy technology company, we strive to reduce our GHG emissions in all of ouroperations. This will be achieved through increased energy efficiency and adoption ofrenewable electricity across our global facility footprint. Our aim is to achieve net-zeroscope 1 and 2 emissions by 2050, with an interim goal of reducing emissions by 50% by2030. We remain committed to reduce our customers’ operational emissions, which is

why we are working to deliver innovation solutions to lower our scope 3 emissions. This
showcases our commitment to sustainable operations and leadership in reducing
global emissions.

Niccolo Puliti, ASPIRE Associate - Gas
Technology Services, IET

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AppendicesOur sustainability strategy was developed tooperationalize sustainability to drive our emissions
reduction to net zero.
By working collaboratively with employees across our business, we created a scope 1 and 2

roadmap (in 2021) aimed at driving direct and indirect emissions out of our operations. To deliveron Baker Hughes’ net-zero commitment emissions reductions roadmaps have been developed.
These nine building blocks define an enterprise-wide view, intended as a forward-looking
framework that continues to guide our net-zero transformation journey.​

01 Ambition

02 Governance

Science-based targets aligned
to achieving global net zero by
no later than 2050 and limiting
warming to 1.5°C

Oversight and accountability
for net zero integrated in ouroperations

04 Enterprisetransformation

05 Supply chains

06 Innovation

Transformed net-zero supply
chain to build a low carbon
ecosystem

Developed innovation andtechnologies to deliver net zero

07 Finance

08 Transparency

09 Engagement

Substantial commitment andwillingness to finance net-zerotransformation

Communicating action andproviding balanced information
on progress against net-zeroambition

Enhancing the pace scaleof net-zero action throughengaging with and influencing
stakeholders across ecosystems

Key operating model
consideration in support oftransformation

03 Corporate
strategy

We are living ourEmbedded and aligned net zero
into company strategy

commitment to operate
sustainably. Empoweredby education andresources to energize
change, our people aremaking energy safer,cleaner and more efficient.

Figure 4-2. Building blocks for our emissions reductions roadmaps

Science-based targets
We believe we have an important role to play in society as an industry leader and partner. In
2019, we made a commitment to reduce scope 1 and 2 GHG emissions from our operations

by 50% by 2030 and achieve net-zero emissions by 2050. This goal encompasses emissions

from our operations (scope 1 and 2 emissions) in alignment with the Paris Agreement and thespecific recommendations of the UN Intergovernmental Panel on Climate Change’s Special
Report on Global Warming of 1.5°C.

Our scope 3 internal goal is also science-based and aligned to the Paris Agreement. Nearterm scope 3 emissions goals and time-bound emissions reductions roadmaps were built

by subject matter experts across the value chain, resulting in well-informed and actionable
plans. In 2023, these goals were submitted to the Science-Based Targets initiative forvalidation but were not accepted for verification due to the absence of sector-specificguidance for companies with oil and gas revenue.

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The role of Carbon Out in reducing emissions

200+

40+

leading initiatives

Countries withprojects initiated

500+

590+

Project owners

People engaged in our
Carbon Out network

Key scope 1 and 2
Carbon Out projects
developed and driven by
our employees

Pipeline projects

Scope 1
Leak detection

Sustainability is at the heart of our corporate strategy and our Company’s purpose. We

believe that each employee has an opportunity — and a responsibility — to make an impact.
Carbon Out is our global employee engagement program and primary execution method

HVAC upgrades

for GHG emissions reduction. Empowered by education and resources to energize change,

Exhaust recovery

Baker Hughes’ direct and indirect emissions footprint across our operations, including offices,

Heat and cooling loss

on projects related to reduction efforts for scope 1 and 2 emissions.

Vehicle electrification

In 2023, for our scope 1 and 2 related Carbon Out efforts, we continued to build momentum

Venting reduction and elimination

impact projects included facility consolidations and switching to renewable and zero-

Equipment upgrades andoptimization

our people are identifying, implementing and executing projects that are actually reducing

field service sites and manufacturing sites. Through 2023, Carbon Out has primarily focusedby prioritizing Carbon Out projects with the highest emissions reduction potential. High-carbon energy sources. We continue to grow our pipeline of innovative projects contributing
to our emissions reduction efforts.

Scope 2

Our people are at the heart of our progress

Gas to electric upgrade conversions

Our success relied heavily on continued engagement and unwavering enthusiasm fromour entire Carbon Out network. Throughout the year, Carbon Out champions across theorganization rallied their sites, regions and businesses to generate ideas for future projects.
This included education workshops, dedicated week-long events at sites for project

LED retrofits and switch timers/
sensors

generation and execution and energy treasure

E-procedure (paperless operations)are engaged to personally reflect on their

Mechanical and electrical services

saving opportunities observed. Results ofRenewable energy

hunts — where all employees at various sites

surroundings and identify any and all energy
these energy treasure hunts included processoptimizations, equipment upgrades andefficiency measures that could develop into

emissions saving projects. These engagements

Energy metering
Battery storage

extended across 40 countries, encompassing
more than 500+ employees, demonstrating

Carbon Out’s global reach and effectiveness indriving sustainability initiatives.
Irene Galli, GTS Training Academy Administrator
Specialist, IET

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AppendicesScope 1 and 2 GHG emissions
We continued to focus on operational efficiency, facilities energy efficiency, fleet

electrification and renewable and nuclear energy in 2023. These key strategic levers
served as our guideposts in identifying projects that will drive down our direct andindirect emissions while improving our performance.

801,087

Strategic lever

Roadmap focus

GHG Protocol category

Operational

Reducing emissions fromScope 1 - Direct emissions

efficiency

Baker Hughes’ manufacturing

Facility energy

Reducing emissions fromand field service operations

Scope 1 - Facilities

energy use (liquid/gas fuels

efficiency

Scope 2 - Purchased electricity

400,543

Scope 2 - Purchased electricity

and electricity) at Baker
Hughes’ facilities

Renewable

Scope 2 - Purchased electricity

Increasing the proportions

energyof renewables used in the

VehiclesIncreasing electrification andelectricity mix

low carbon fueling in Baker

Scope 1 - Vehicles

Baseline
Total

Hughes’ own vehicle andOperational
Efficiency

Facility
Efficiency

vessel fleet

Renewable
EnergyScope 1

VehiclesProjected
Total
Remaining

Scope 2

Figure 4-3: Scope 1 and 2 emissions reduction levers
Figure 4-4: Framework to reduce emissions by 50% by 2030

Table 4-1: Scope 1 and 2 emissions by year (MT CO2e)

2019

2023

Change from 2019base year
MT CO2ePercent

299,296
501,791

Scope 1

501,791

383,096-118,695-23.7%

Scope 2, market-based

299,296

191,417-107,879-36.0%

Scope 2, location-based

307,082

217,941-89,141-29.0%

Total scope 1 and 2,
market based

801,0872019

Scope 1801,087

574,513-226,574

574,513
191,417
383,0962023

Scope 2, market-based-28.3%
Figure 4-5: Scope 1 and 2 emissions by year (MT CO2e)

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AppendicesDecreased scope 1 and 2 emissions intensity illustrated
our progressv

We calculate our emissions intensity in addition to quantifying emissions in absolute terms.
Using emissions intensity normalizes our emissions by using revenue as a denominator,

providing a more transparent view of our progress towards meeting our net-zero goal whileaccounting for economic growth.

In 2023, Baker Hughes saw an increase in revenue, which was primarily driven by higher

volume from IET on Gas Technology Equipment project backlog execution, as well as stronger
activity in OFSE. This revenue growth to $25.5 billion from $23.8 billion in 2019 with subsequentemissions reduction led to a scope 1 and 2 emissions intensity decrease of 33.0%.

Table 4-2: Scope 1 emissions breakdown (CO2e)

2019(Base year)

Category

Change from 2019 baseyear
MT CO2ePercent

Fleet

141,416

92,710-48,706-34.4%

Field
activities

197,666

183,302-14,365-7.3%

Facilities

162,709

107,085-55,624-34.2%

501,791

383,09612-118,695-23.7%

Total

12

2023

Scope 1 and 2
emissions intensity
decreased by
33.0% vs. 2019base year.

Values are rounded to nearest whole number for reporting; 2023 Fleet emissions were 92,709.7 MT CO2e, Field

Activities emissions totaled 183,301.6 MT CO2e, and Facilities emissions totaled 107,084.7 MT CO2e - resulting in a total
scope 1 emissions result of 383,096.1 MT CO2e.

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AppendicesFleet emissions
Our fleet results encompass emissions from all Baker Hughes owned and leased vehicles

and, in 2023, we made additional efforts to improve the accuracy of our vehicle reporting.

Our 34.4% reduction in fleet emissions from base year 2019 is chiefly the result of reductionin the fleet population and a shift away from internal combustion engines to hybrids andOur 34.4% reductionin fleet emissions

electric vehicles.

In North America, we partnered with Ford to develop a pilot for our mid-weight vehicles.

This collaboration will produce fit-for-purpose electric vehicles with lower emissions thanfrom base year 2019is the result of a fleet
population reduction
and a shift away fromexisting models in our fleet. We are also investing in additional infrastructure to provide

charging stations for electric vehicles at high-density locations and central hubs, as well
as developing a charging network through our partnership with Shell. In addition to ourinfrastructure changes, we also promote efficient driving practices through our motor vehicle
idling program. This program encourages employees to turn off vehicles when their engine is
idling for more than 10 seconds, saving fuel and resulting in both emissions and cost savings.

internal combustion

Carbon Out spotlight on progressengines to electric

Employee shuttle service - Italy

and hybrid vehicles.

Strategic Outcome: Reduce scope 1 and 2 emissions
Business need: Italy is home to one of our largest centers of operations globally —approximately 6,000 of our employees commute regularly between our sites in Avenza,

Massa and Florence in Tuscany. The round-trip distance of these commutes is approximately
150 miles, an emissions impact that compounds significantly when multiplied by the large
employee base.

Impact: In September 2023, we began operating a shuttle service for our employees withprofessional drivers to more efficiently transport employees at these locations. The shuttle
operates three times per day Monday through Thursday and twice on Friday. Since theinception, there have been 1,000+ reservations made in the first 90+ days of operation. This

service furthers our emissions reduction goals by consolidating emissions produced by daily
commutes and elevates employee well-being by providing an efficient and comfortableoption to safely return home from work each day.
Supporting UN SDGs:
In support of UN SDG target 13.2: Integrate climate change measures into policy andplanning, we have executed projects at various sites through our Carbon Out program,
thereby improving our energy efficiency and reducing our emissions.

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AppendicesIn 2023, we delivered a 7.3%

reduction in GHG emissions fromfield-related activities comparedto our 2019 base year.

Field emissions
In 2023, we delivered a 7.3% reduction in emissions from field-related activities comparedto our 2019 base year.

Field emissions are directly tied to our business performance and activity. Field activities

at Baker Hughes drove business growth and the resulting increased revenue generation inrecent years following the COVID-19 pandemic. Mitigating associated field emissions while
our field activities increase with business growth is a challenge.

Integrated Solutions and Pressure Pumping services activity within our Completion,

Interventions and Measurement business increased, serving more operational rigs for thebusiness. Due to the additional rigs, field emissions within these businesses increased, but
overall field emissions were mitigated by the reduction efforts executed in other parts ofour business operations as we continued to evaluate more complex emissions reduction
opportunities in our field activities.

Carbon Out spotlight on progressBlue Marlin ‘rides the waves’ - Brazil
Supporting UN SDGs:

Strategic Outcome: Reduce scope 1 and 2 emissions
Business Need: Dynamic position is a method by which a vessel remains stationary in theocean without physically attaching itself to the oil rig or dropping anchor. Although thismethod provides more flexibility and efficiency in operations, it burns considerably more

fuel. In our Pressure Pumping business, there is a high reliance on diesel to fuel the marine

vessels utilized for operations. This high reliance on diesel heightened the need to improvethe efficiency of our fuel usage related to marine vessels. Combined, our marine vessels
produced 26,275 MT CO2e in 2023.

Impact: In Brazil, our assembly, maintenance and overhaul team led a project to decrease
our emissions on our Blue Marlin vessel utilizing variable frequency. Variable frequency is

In support of UN SDG target
9.4: Upgraded infrastructure
and retrofit industries tomake them sustainable,with increased resourceuse efficiency and greater
adoption of clean and environmentally soundtechnologies. Through our Carbon Out program
we have implemented new technology designed
to maximize the fuel efficiency during vessel
dynamic position operations.

a new technology implemented on the vessel, designed to maximize fuel efficiency during
dynamic position operations by rotating the propeller at a slower, variable rate, thereby

burning less fuel. The upgrade provided significant fuel savings and emissions reduction,
leading to an approximately 30% reduction in fuel consumption and approximately 14%
emissions reduction when the vessel was stationary to the rig.

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AppendicesScope 1 and 2 facilities emissions
Our facilities impact both our scope 1 and 2 emissions: Our scope 1 through direct production ofemissions in our manufacturing or operations and our scope 2 by the choices in our purchased
electricity. A key driver of how our facilities impact our direct production of emissions is throughour use of natural gas in equipment testing. Gas turbines are one of our main products and intheir manufacturing, require tests that utilize natural gas. We also use natural gas and other fuels

directly, along with purchased electricity, to provide power to our operations, heating and cooling.
We prioritized identifying ways to reduce natural gas consumption at our facilities through

Carbon Out projects and substitutions with less emissive alternatives. In our drive to reduce

emissions, we continue to explore opportunities to transition from fossil fuel grid-based energy
to renewable and nuclear energy sources.

Reduction in scope 2 emissions were mostly driven by expanding the coverage of renewableand zero-carbon energy sources in our facilities. In 2023, we achieved additional contracts withcertified use of renewables and guarantees of origins in place in North America, Latin America
and Europe. Facilities consolidation was another driver of emissions reduction in scope 2. In

contrast, our emissions reduction in aggregate remains flat relative to our base year due to thehigher emissivity reflected in emission factors. Emission factors published in 2023 reflect thechanges in grid mix in certain geographical areas, which were influenced by the recovery in

In 2023, we reduced ourscope 1 and 2 emissions by

226,574 MT CO2efrom our 2019 base year
inventory of

801,087 MT CO2e.

Our scope 2 market based
emissions for 2023 were

191,417 MT CO2e,a reduction of 36.0%

from our 2019 base year.

energy demand post-COVID and geopolitical conflicts, resulting in more emissive power sourcesin parts of the world. Additionally, we updated the base year in accordance with the GHG Protocolthat encourages the review of both the current and base year calculations in every reporting
cycle. This resulted in the reported emissions reduction being minimized, though in reality

considerable scope 2 emissions reduction projects were executed in the performance year.

Carbon Out spotlight on progress
Diesel fuel transformation to electrical grid - Saudi Arabia
Strategic Outcome: Reduce scope 1 and 2 emissions
Business Need: A Baker Hughes manufacturing facility in Dammam, Saudi Arabia was utilizing
three diesel-powered generators to power site operations.

Impact: A new high voltage electrical system was installed at our Dammam site in Saudi Arabia
and connected to the electrical grid. The facility required a power supply of approximately

3,300 MWhs, which were provided by generators consuming approximately 365,000 gallons ofdiesel fuel. Since making the switch, this power is now supplied by the electrical grid providing asignificant emissions reduction for the facility as well as operational cost savings.

Reduction of Natural Gas for Heating - Argentina
Strategic Outcome: Reduce scope 1 and 2 emissions
Business Need: A Baker Hughes site at Comodoro Rivadavia in Argentina was using high volumesof natural gas to heat the facility due to the poor state of the facility roof, liners and doors.
Impact: The OFSE assembly, maintenance and overhaul field activity team collaborated

across their facility to implement projects to increase energy efficiency and reduce emissions.

The team worked to repair the roof, liners and doors to better insulate the building and improve
the overall facility. As a result of this, natural gas consumption for the site was reduced by ~27%and emissions were reduced by ~28%.

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AppendicesIn 2023, we had 29.8% of
our electricity sourced fromzero-carbon sources.

Renewable energy
increased 14.6% fromour base year
Non-renewable energy
decreased 16.3% fromour base year

Transitioning to Renewables

Non-Renewable, zerocarbon increased 1.7%
from our base year

In 2023, we continued our transition away from grid electricity powered by fossil fuels to
renewable and non-emissive energy, where possible. Our emissions reduction strategy
maintains the adoption of Renewable Energy Credits, Renewable Energy Guarantees ofOrigins, Zero Emissions Certificates or Environmental Attribute Certificates that come from a
local market of electricity, or Power Purchase Agreements (PPAs).

We work across all regions, prioritizing sites based on the impact of renewable sourcing andthe cost-effectiveness of the projects that are part of our 2030 roadmap. We do not utilize

carbon offsets or virtual PPAs currently as part of our emissions reduction program. See ourcarbon offset policy here.

As part of our regional initiatives in APAC, we planned and executed an onsite rooftop solar

PPA in partnership with Cleantech Solar. This project marks a steppingstone to future projects
in the region, strengthening our commitment to renewables.

13 New sites utilizing

renewable orzero-carbon electricity
from the grid in 2023

11 Sites utilizing on-site
solar energy
87 Total sites utilizing

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AppendicesEnergy used by category (MWh)Renewable electricity

Non-renewableelectricity

2019

2022

2023

104,307

137,327

164,597

13.5%

22.7%

28.1%

667,522446,191

410,961

Main Contracts
Texas
Germany
U.S. Northeast

Renewables andZero Carbon electricity as% of total electricity

13.5%

Oklahoma
29.8%

2019

2023

Thailand

26.1%

N/A

20,575

9,606

Total electricity

771,829604,093585,165

Diesel/distillate

1,046,950

875,344915,946

Non-renewable, zerocarbon electricity13

RomaniaUK

2022

Figure 4-7: Percentage of total renewables and zero-carbon electricity13 in 2023

Carbon Out spotlight on progress
Partnering for a renewable future with Shell Energy Italia
In September 2023, Baker Hughes announced a new agreement with Shell
Energy Italia — an eight-year power purchase agreement to supply sevenof Baker Hughes’ Italian facilities with renewable energy. This energy is754,917Natural gas

472,915

449,520sourced from Shell’s solar photovoltaic farm currently under constructionin the Apulia region in southern Italy.

3000000

401,861

Gasoline/petrol

252,227

261,206

Renewable Electricity
2250000

Non-Renewable Electricity
Non-Renewable,

2,040

6,797

5,769

Other Fuels

0

2,595

1,266

Total fuels

2,205,768

1,609,878

1,633,707

Purchased Heating

—

—

—

Purchased Cooling

—

—

118

Purchased Steam

—

—

8,713

Total Purchased
Heating, Cooling, and
Steam

—

­—

8,831

2,977,597

2,213,971

2,227,702

PropaneTotal energy

Zero-Carbon Electricity13

Purchased Heating,Cooling, and SteamNon-Renewable, Zero-Carbon Electricity is a subset of Non-Renewable
Electricity split out to provide additional insight into electricity breakdown
and Total Electricity is a sum of the three values listed.

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Diesel/Distillate

750000Natural Gas
Gasoline/Petrol

0.0

Figure 4-6: Energy use by category (MWh and %)13

Propane and Other Fuels

1500000

20192022 2023

Figure 4-8: Year-over-year comparison of energy use by category (MWh)Sustainability
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PeoplePlanetPrinciples

Appendices

Enable our partners to thrive ina low carbon world
Near-term scope 3
emissions targets andtime-bound emissions
reductions roadmaps
were built by subject
matter experts acrossthe value chain, resulting
in well-informed andactionable plans in 2023.

Creating a roadmap to navigate the challengesof scope 3
In 2023, we continued to make strides in reducing our scope 1 and 2 emissions, but we know
we cannot help our customers meet their net zero goals without addressing our own scope
3 emissions. Scope 3 emissions account for several orders of magnitude more emissions

than scope 1 and 2. To address this challenge, we created a scope 3 roadmap that aligns
our priorities for each emissions reduction category, emphasizing areas where we havethe largest emissions footprint. We have identified levers that will accelerate our emissions
reduction efforts.​

The development of our scope 3 roadmap was influenced by stakeholders across theCompany. The generation of projects and ideas is employee-driven and implemented

through the power and enthusiasm of our newly launched scope 3 specific Carbon Out
program.

Table 4-3: Strategic levers to reduce scope 3 emissions

Strategic lever

Roadmap focus

GHG Protocol category

Supplychain andprocurement

Reducing upstream emissions from supply
chain and sourcing activity

Scope 3 - Category 1
Purchased goods
and services

Transport andlogistics

Reducing emissions from Baker Hughes’commuting, business travel and freight
haulage

Scope 3 - Category 7
Employee commuting
Scope 3 - Category 6
Business travel
Scope 3 - Category 4
Upstream transport

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Third party
managed
waste

Reducing emissions from third-party
disposal and treatment of waste generated inoperations

Scope 3 - Category 5
Waste from operations

Low-carbon
products

Reducing downstream emissions from use ofBaker Hughes’ products

Scope 3 - Category 11
Use of sold products

By the Numbers

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AppendicesApproaching scope 3 GHG emissions
Key scope 3 focused
Carbon Out projects
developed and driven
by our employees
Scope 3

Our updated scope 3 methodology
Measuring emissions is a significant challenge, relying on estimates and third-party

information. Since first quantifying scope 3 emissions for reporting year 2021, we haveadhered to the provided GHG protocol emissions accounting and reporting principles toensure our inventory represents an accurate, valid and fair account of our emissions.

In 2023, upon a thorough assessment of the appropriateness of the employed emissions

factors, we determined that applying the emissions factors representing the full life cycle

Employee remote training via
augmented reality

is appropriate and delivered added visibility and a higher level of accuracy of scope 3
emissions accounting. This resulted in overall scope 3 emissions for the year totaling

433,728,176 MT CO2e, an increase of 83.1% compared to our base year, due to increased

Shipment consolidation to reduce
diesel usage

volume and a shift to higher power products. This also resulted in a 71.2% increase in our

Installation of electric vehicle
charging points

Lifecycle emissions factors consider the upstream supply chain of all fuels and energy

scope 3 emissions intensity.

used—these factors are specific to the source of energy or fuel, the technology used in fuelor energy production and the type of fuel consumed. The impact to scope 3 emissions from

Shipping crate recycling
Installation of new digital meters forwater usage monitoring
Usage of reusable containers withcustomers
Transferring disposal waste toincineration with energy recovery

including these fuel life cycle factors is an approximate increase of 22.9% to both our baseyear and other reported years, with a notable impact on category 11.

While these factors increased our absolute emissions, it gives us visibility into additional
opportunities to reduce emissions through use of lower-emitting fuels and electricity
throughout our supply chain.

Launching scope 3 Carbon Out
In 2023, we launched a scope 3-specific Carbon Out program to collect employee-sourced
projects to achieve our internal goal for scope 3 emissions reduction by 2033. Throughout

the year, multiple tools were developed and utilized to drive emissions-conscious decisions,improving our capability to propose lower-emitting solutions to our customers.

Irene Innocenti, Technical Leader - Digital
Transformation, IET

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AppendicesScope 3 emissions
0.28%1498.20%

Use of sold products

0.05%
0.03%

28.1%

0.04%

0.01%
70.2%

0.02%

0.07%

1.31%

0.03%
0.03%

Purchased goods
and services

Figure 4-9 Total scope 3 emissions breakdown by category (% MT CO2e)14

1.

Purchased goods and services

2.

Capital goods

3.

Fuel-and energy-related activities

4.

Upstream transportation and distrib.

5.

Waste generated in operations

6.

Business travel

7.

Employee commuting

9.

Transportation and distribution

11.

Use of sold products

15.

Investments

Due to rounding of displayed values, total percentage does not equal 100%. Capital goods accounts for 0.030%, Fuel- andenergy-related activities (not included in scope 1 or scope 2) accounts for 0.030%, Upstream transportation and distribution
accounts for 0.068%, Waste generated in operations accounts for 0.022%, Business travel accounts for 0.013%, Employee
commuting accounts for 0.031%, Transportation and distribution accounts for 0.054% and Investments accounts for 0.045%.

Table 4-4: Total scope 3 emissions by category (MT CO2e)

Scope 3 Category

2019(Base year)2023% changefrom 2019

1.

Purchased goods
and services

4,587,993

6,368,267+38.8%

2.

Capital goods

167,703

147,120-12.3%

3.

Fuel-and-energy-related
activities (not included inscope 1 or scope 2)

186,887

143,841-23.0%

4.

Upstream transportationand distribution

670,580

331,325-50.6%

5.

Waste generated
in operations

136,287

108,781-20.2%

6.

Business travel

102,015

68,967-32.4%

7.

Employee commuting

186,849

152,870-18.2%

9.

Transportationand distribution

482,549

260,844-45.9%

11.

Use of soldproducts

230,203,237

425,927,694+85.0%

15.

Investments

108,467

218,467+101.4%

236,832,567

433,728,176+83.1%

Total reported
scope 3 emissions

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PeoplePlanetPrinciples

AppendicesKey influences and driving factors for scope 3 results by category
1.

Purchased goods
and services

Increased business activity drove increased emissions for category 1 compared to the 2019 base year,

particularly from chemicals and raw materials commodities. Category 1 is the second largest contributor to
our scope 3 emissions; while only 1.31% of total scope 3 emissions, there are key factors that as a company
we can influence. Business activity has a large influence on the results of this category, but we havemade significant strides in our processes to combat the associated emissions. In 2023, we developed amethodology to assess our over 30,000 suppliers to determine the largest influences on emissions andidentify opportunities. We also continued regular engagements with our suppliers, which resulted in an
approximately 50% increase in our supplier responses to CDP submissions.

2.

Capital goods

We drove a 12.3% reduction in capital goods emissions compared to our 2019 base year. Spend on capital3.

Fuel-and-energyrelated activities(not included inscope 1 or scope 2)

Overall reduction is directionally aligned with reductions in scope 1 and 2 emissions, as part of theUpstreamtransportationand distribution

Logistics optimization contributed to reduced air freight, a highly emissive mode of freight. Our supply

Waste generated
in operations

The emissions from processing waste generated also decreased compared to the 2019 base year. Reduced

Business travel

Employee travel-related emissions decreased in 2023 compared to the 2019 base year. In part due to more

4.

5.

6.

goods can vary for many reasons and is not necessarily linked to overall activity.

Company’s Carbon Out initiatives. As such, we reduced this category of emissions by 23.0% compared to2019 base year in fuel- and energy-related activities, excluding activities already accounted for in scope 1
and 2 emissions totals.

chain professionals use emissions savings calculators to inform decisions and assess savings from Carbon
Out initiatives. Supply chain optimization has yielded both emissions and cost reduction. This resulted in a
reduction of 50.6% compared to the 2019 base year.

volume of waste, repurposed waste (where possible) and increased recycling resulted in this reduction.
Read more in our Managing Waste section.

virtual meetings with customers and suppliers. We also formalized a sustainable business travel internal
policy in 2023 and enabled visibility for comparative emissions on routes and modes of transportation in
our travel management system.

7.

Employeecommuting

Remote work and hybrid functionality allowed eligible Baker Hughes employees to reduce emissions related

9.

Transportationand distribution

Similar to category 4, optimization on both upstream and downstream emissions through supply chain11.

Use of soldproducts

The increase in sales and the product mix led to emissions increase of 85.0% from our 2019 base year. Two

to commuting compared to our base year. Since the COVID-19 pandemic we have seen the continuation ofthis trend and increased consciousness and education across the business to maintain this progress.

initiatives work to inform decision making, resulting in emissions and cost reduction.

contributing factors were technology advances in our Aeroderivative Gas Turbines, which increased theiraverage power per unit by 45.5% compared to 2019 and our Electrical Motors increasing their average
power generated per unit by 175.0% compared to 2019.

15.

Investments

Emissions related to companies that Baker Hughes has invested in have increased since our 2019base year, primarily due to the activity and revenue increases within these businesses.

Figure 4-10: Key influences and driving factors for scope 3 results by category

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AppendicesOur use of sold products influence on scope 3 emissions
As category 11 makes up 98.2% of all scope 3 emissions, these changes to volume and mix ofour products, as well as market conditions, have a large influence on our results. We continue
research into technology advancements to implement efficiencies into our products that will
impact their contributions to our overall scope 3 emissions.

In the post-pandemic world, our customers’ growing need for energy has led to increased
sales of our more powerful gas turbines and electric motors. Both the increase in sales

and the product mix itself led to an emissions increase of 85.0% from our 2019 base year.
Technological advances in our highly efficient Aeroderivative Gas Turbines increased

the average power per unit by 45.5% from our 2019 base year, while the average power

generated by our Electrical Motors increased by 175.0% from our 2019 base year. While theseremain the most-efficient options in their class, the large power consumption of theseturbines drives increased lifetime emissions during use.

Conversely, in our Artificial Lift Systems (ALS) product line, fluctuations in our volume

mix contributed to slight reductions in category 11 emissions. In 2023, our ALS productline deployed more efficient permanent magnet motors at well sites, replacing older,

more emissive technology. Combining permanent magnet motor technology with Baker

Hughes’ electric submersible pump capabilities created differentiated solutions, creating
advantages for our customers while producing fewer emissions.

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AppendicesCompleting FastLCA for >95%
of our most emission-intensive
products by 2026
FastLCA is our proprietary tool developed by Baker Hughes and used to quantify theenvironmental footprint throughout all lifecycle stages of our products and services. The

We are advancing ourtool is aligned to ISO 14040/44 and ISO 14067:2018 and provides our customers verified
emissions footprint of the assessed products and/or systems. In 2023, we completed

emissions reduction

313 LCAs, a 627.9% increase YOY. As part of our overall sustainability strategy, we work to

and management

analysis feature helped to provide important insights into efficiencies gained throughjourney by incorporating
LCAs into our ProductDevelopment process.
By completing LCAsprior to product launch,
we are able to provide

quantify the lifecycle GHG emissions of all of our major product groups. The comparative
new product innovations.

LCAs give our customers clear insight into how our products will affect their emissions as
we continue to transition into a low carbon world. They also play an important role in thedesign phase of our products where emissions impacts are reviewed with other design

features. Our LCAs provide an emissions profile for our product or service and can serve

as a heat map that identifies the highest emission materials, manufacturing processes,
transport, installation and operations activities. These insights drive decisions andCarbon Out initiatives. LCAs are internally peer-reviewed and verified by our Emissions
and Climate Analytics Center of Excellence.

the transparency our313

customers need to be
successful in a lowcarbon world.

43
7
2021

2022

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Figure 4-11: Number of total LCAs completedContents

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AppendicesChampioning
environmental stewardship
We are committed to minimizing the environmental impact across our facilities, throughthe services we provide at our customer sites and in the communities where we operate.
We take a holistic risk-based approach to make progress towards our commitments.
Our robust environmental policies and programs, which are part of our larger HSE

management system (HSE MS), provides a framework for continuous improvement thatis built on stringent standards that we set for ourselves, meeting or exceeding global

regulatory requirements. Our environmental management system is aligned to ISO 14001:

2015 and embeds into supporting risk assessments, global procedures, training, reportingand verification and control measures to reduce our impacts.

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AppendicesMinimize the resources we use
Managing waste
Effective waste management is critical to sustainability and our operations. We aim toembed the principles of a circular economy in all aspects of our business. This means

minimizing the materials and energy used during all production phases, reducing waste
and increasing recycling. We follow our formal procedure for waste management andminimization, which requires that all waste types are identified and tracked to provide

guidance promoting efforts to minimize waste volumes and increase the recycling and reuseof materials at each site. Teams across our business work to identify waste at their sites, findopportunities to reduce production of waste and utilize our partnerships with waste disposal
vendors to collaborate on alternative and more sustainable disposal methods.

In 2023, we continued to embrace waste minimization by designing products with circularity
in mind, reducing the amount of waste we produced, increasing recycling, decreasing ourwaste to landfill, repairing end-of-life assets and repurposing waste material that can serve
as a feedstock for other sectors.

As part of our waste management program, we review and verify our waste management

vendors for disposal, recycling and treatment to verify these vendors comply with our strict
waste management requirements.

In 2023, we reduced the volume of hazardous waste generated by Baker Hughes by 27.1%

compared to our 2022 base year.15 This reduction is in part related to the consolidation of

our global footprint, where we optimized our presence in key areas to better align with ourbusiness operations. We also saw an increase in the amount of waste diverted from disposal
through various recovery operations. We had a 6.3% decrease in the volume of waste

direct to landfill compared to our 2022 base year. These trends show us moving in the right
direction regarding our waste management.

Throughout 2023, experts in waste operations have formed cross-business working

groups focused on identifying opportunities for waste reduction. These working groups are
responsible for creating waste checklists that have been piloted at top waste contributing

sites with plans to replicate throughout the rest of the Company. We identified some of thelarger waste generators within the organization and are looking into specific waste streams
to target reduction.

15

Our waste metrics are measured to a 2022 base year rather than 2019 due to methodology changes that were

Hannah Jasinski, Product Management, OFSE

implemented in 2022.

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AppendicesWaste generated
Waste volume (metric tons)

120,298
106,844
80,293

2022

2023

Hazardous

87,434

2022

2023

188

124

2022

2023

Non-Hazardous

E-waste27,48329,547

2022

2023

MetalsFigure 4-12: Generated waste by volume and type (metric tons)

Waste recycled
Waste volume (metric tons)

22,249

7,761

2022

27,48325,601

29,547

5,660

2023

Hazardous

2022

2023

Non-Hazardous

173

111

2022

2023

E-waste

2022

2023

MetalsFigure 4-13: Recycled waste by volume and type (metric tons)

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AppendicesWaste disposed
Waste volume (metric tons)

112,537

74,633

2022

2023

Hazardous

81,24365,185

2022

2023

15

13

2022

2023

Non-Hazardous

E-wasteFigure 4-14: Disposed waste by volume and type (metric tons)

Table 4-4: Waste volume (metric tons)

Recycled

Disposed

Generated

2022

2023

% change

2022

2023

% change

2022

2023

% change

Hazardous waste

7,761.0

5,660.2-27.1%

112,537.0

74,633.1-33.7%

120,298.0

80,293.3-33.3%

Non-hazardous waste

22,249.0

25,601.2+15.1%

65,185.0

81,243.2+24.6%

87,434.0

106,844.4+22.2%

173.0

111.3

-35.7%

15.0

12.9-14.0%

188.0

124.2

-33.9%

Metal waste

27,483.0

29,547.0

+7.5%

0.0

0.0

0.0%

27,483.0

29,547.0

+7.5%

Total

57,666.0

60,919.7+5.6%

177,737.0

155,889.2-12.3%

235,403.0

216,809.9-7.9%

E-wasteContents

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AppendicesTable 4-5: Waste diverted from disposal by recovery operation (MT)Hazardous waste
2022

2023

Offsitepreparation
for reuse

629.0

559.0

Offsitereclamation

3.0

Offsiterecycling
Offsitematerial
recovery
Other offsite
recycling
options

Non-hazardous waste
%

2022

2023

-11.1%

801.0

1,154.6

4.3+43.3%

221.0

­—

—

—

—
­

—

7,129.0

5,096.9

E-waste

%

2022

2023

+44.1%

6.0

1.8

349.2

58.0%

­—

­—

—

—

—

­—

—

-28.5%

21,227.0

24,097.4

changeMetal waste
%

%

2022

2023

-70.0%

­
—

—

—

—

—

­
—

—

—

167.0

109.5

-34.4%

—
­

—

—

—

­—

—

—

27,483.0

29,547.0+7.5%+13.5%

­—

—

—

­
—

—

—

changechangechangeTable 4-6: Waste prevented from disposal (MT)Total waste prevented

Total waste prevented

2022

2023

% change

1,266.0

2,463.5+94.5%

Non-hazardous waste

E-wasteFormer waste toproduct conversion

Table 4-7: Waste directed to disposal by disposal operation (MT)Hazardous waste
2022

2023

% change

2022

2023

% change

2022

2023

Offsite incineration withenergy recovery

978.0

14,239.4+1356%

1,940.0

3,001.4+54.7%———

Offsite incineration
without energy recovery

2,062.0

867.6-57.9%

1,875.0

1,013.0-46.0%­———

Offsite recycling

4,210.0

3,133.7-25.6%

24,986.0

22,878.8

-8.4%

—

—

—

Offsite landfilling

105,287.0

56,392.3-46.4%

36,384.0

54,350.0+49.4%

­—

—

—

—

—

—

—

­15.0

12.9

-14.0%

DisposalContents

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AppendicesSpotlight on progress
Circularity through additive manufacturing
Strategic Outcome: Reduce waste to landfill by 2030
Business Need: We identified that many older or obsolete parts could have their service
life extended or features enhanced through additive manufacturing. At Baker Hughes,

contributing to a circular economy means producing in a sustainable way from the earlystages of product development through project completion or material disposal. We

evaluate environmental requirements in our additive products and processes and eco-

design principles are applied from the beginning of development through a comprehensive
approach to predict lifecycle impact. Additive manufacturing uses data computer-aided

design software to direct hardware to deposit material, layer upon layer, in precise geometricshapes to create an object.

Impact: We utilize additive manufacturing to reduce material consumption and shipping
distances, improving the overall efficiency of production and the supply-chain process.
Moreover, additive manufacturing gives us the possibility to extend the life of obsolete

products and even to upgrade old products’ features. A case study performed on a firststage gas turbine nozzle resulted in a ~26% reduction of energy consumption and a ~42%

reduction in raw materials. This not only resulted in a decrease of waste to landfill, but it also
improved efficiency and reduced scope 3 category 5 waste generated in operations.
Supporting UN SDGs:
In support of UN SDG target 12.5: By 2023, substantially reduce waste generaton throughprevention, reduction, recycling and reuse. We are committed to reducing our volume
of waste, by using resources wisely, increasing the recycling of materials within ourbusiness and reducing waste going to landfills.

Aaron Clane, RDD Technician Senior, OFSE

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AppendicesReducing spills and reportingthem transparently
The nature of our services and production operations involves materials that must be

handled responsibly, else induce consequences if they are not. As a company, we focus on

In 2023, we reduced

addressing the root causes of spills through proactive measures, such as risk assessments,

our significant spill

aim to create safeguards against the risk of spills occurring and minimize any related

volume and chemical

spill response planning and regular preventative maintenance on equipment. These efforts
adverse impacts. It is our responsibility to ensure a safe future for our employees, ourcommunities and our environment.

spills by 35.3% andWe strive to reduce both the quantity of spill related incidents and the total volume of spills

70.9%, respectively,by requiring equipment inspections, secondary containment, spill response plans and drills

compared to 2022.

at our sites and locations where we operate. We are proactive in our efforts to avoid spills
and routine maintenance at our sites. When spills do occur, we work to immediately stop
the spill and mitigate any environmental effect.

Reporting spills
We are transparent in how spills are reported and tracked to identify potential trends

or areas of focus. Our sites are required to report every spill and categorize accurately,
regardless of the volume and whether the contents were captured in secondary
containment.

All reported spills are reviewed by an environmental subject matter expert who works with
impacted sites to understand the nature and impact of the spill and assure accuracy ofreporting. Significant spill occurrences go through a stringent root cause analysis that
identifies points of failure in processes that led to the spill. Detailed investigations are

required immediately following a spill that document contributing factors and corrective
actions to prevent future spills.

In 2023, we focused heavily on the governance of spill reporting compliance and increasingdata visibility across the business. We implemented and drove regular business reviews,
focused site visits, site engagements and coaching. Additional training and reference

guides were developed to help our employees better classify and report spills accurately.
Of note, we reduced our significant spill volume and chemical spills by 35.3% and 70.9%,

respectively, compared to 2022. The reduction of spill volume across our sites in 2023 is areflection of our efforts to strengthen internal procedures, processes and culture.

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AppendicesOur spills in 2023
Table 4-8: Spill volume (barrels)

Category

2022

2023

% change from 2022

Significant spills*

827

535

-35.3%

Oil spills**

37

14-62.2%

Fuel spills**

3

1-66.7%

Waste spills**

10-100.0%378

110-70.9%

Chemical spills***Significant spills exclude third party, clean water, clean gravel and inert gas.
**Denotes the subset of significant spills that have reached soil and/or water.

827
378
535
37
14

2022

2023

2022

Significant spills2023

Oil spills

110

3

2022

1

1

2023

2022

Fuel spills

0

2023

Waste spill

2022

2023

Chemical spills

Figure 4-15: Spill volume by type (barrels)Contents

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AppendicesPreventing and reducing spills at our sites
We strongly believe in being proactive to avoid spills through periodic inspection and routine
maintenance. We have robust internal standards and processes to identify any risks ofspills and have established control measures, including secondary containment and otherengineering controls.

Sites are expected to conduct and document periodic inspections to identify spill risk factors
as outlined in our spill prevention and response procedure. Timely corrective actions or
improvements must be implemented and tracked in our system of record.

Spotlight on progress
Strategic outcome: Reducing spills at our sites by 2035
Business need: There is a need to reduce the number and volume of spills at our sites

and operations to protect the health and safety of our employees, communities and theenvironment through routine inspections and maintenance.

Impact: In 2023, we inspected ~98% of the tanks at our sites and took action to repair all

deficiencies found. We also performed preventative maintenance where necessary. Theseroutine inspections serve a vital role as they protect our employees, sites and communities
from possible water contamination and the release of hazardous substances. Throughdiligence in our commitment to inspect and repair tanks, we have seen a reduction insignificant spills of 35.3% from 2022.
Supporting UN SDGs:
In support of UN SDG target 6.3: By 2023, improve water quality by reducing pollution,
eliminating dumping and minimizing release of hazardous chemicals and materials,
halving the proportion of untreated wastewater and substantially increasing recycling
and safe reuse globally. Through our tank inspections and spill prevention and reporting
processes we aim improve water quality and reduce pollution

Managing chemicals
We follow our chemicals management procedure for the proper handling and managementof chemicals at our sites and customer job locations. Baker Hughes is a longtime participant
in ChemStewards®, a rigorous program to foster and improve upon a culture of facility

safety, product stewardship, environmental safeguards, risk reduction and stakeholder
engagement.

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AppendicesWater stewardshipResponsible water stewardship and the protection of water stressed areas helps mitigate

the adverse effects of climate change. As an organization, we are committed to conserving
and protecting natural resources throughout the water cycle and effectively managing ourwithdrawal, consumption and water discharge in water-stressed locations and elsewhere.
Many of our operations and tests require the withdrawal and consumption of water. Still,

due to the nature of our operations, it does not significantly impact water availability in theregions where we operate. To achieve our objective of minimizing the resources we use, wehave committed to reducing our usage of water in our water-stressed sites by 2030.

In 2023, our total water withdrawal decreased by 7.2% to 2,984.4 Megaliters (ML) in 2023 from
3,214.3 ML in our 2022 base year. Our total water discharge was down 12.3% to 2,329.7 ML in

2023 from 2,655.0 ML in our 2022 base year. The increase in consumption was attributed tochallenges with aging infrastructure and meters impacted by adverse weather.

Table 4-9: Total water use (ML)

Water Withdrawn (ML)
2022

2023

% change

Surface water

0.1

0.0

-100.0%Groundwater

618.0

646.6

+4.6%

Municipal water

2,596.0

2,337.8

-9.9%

0.2

0.0

-100.0%3,214.3

2,984.4-7.2%

Seawater
Total

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Water Consumed (ML)
2022

2023

559.0

654.7

559.0

By the Numbers

654.7

Sustainability89% change+17.1%+17.1%

PeopleWater Discharged (ML)
2022

2023

% change

55.0

41.6

-24.4%

45.0

34.5-23.3%

2,536.0

2,239.1-11.7%

19.0

14.5-23.7%

2,655.0

2,329.7-12.3%

PlanetPrinciples

AppendicesWater stressed sites
We assess areas of water stress using the World Resources Institute’s Aqueduct tool. Outof our total 787 sites as of year-end 2023, 91 sites were in an area of high water risk and 61

were located in an area of extremely high water risk based on their physical, regulatory andreputational risk profile. An additional six sites were reclassified to a water risk area from 2022.
In 2023, our water consumption in water stressed areas increased by 80.3% compared toour 2022 base year, with our 2023 consumption at 23.4 ML. Our water withdrawn from theseareas remained roughly the same, marginally decreasing from 410.0 ML in our 2022 baseyear to 409.2 ML in 2023 and water discharged to these areas decreased from 397.0 ML in our2022 base year to 385.7 ML in 2023. The site reclassifications made in 2023 contributed to theobserved increase in water withdrawal and water consumption at water stressed sites.
Table 4-10: Water use in water stressed areas (ML)

Water Withdrawn (ML)

Water Consumed (ML)

2022

2023

% change

Surface water

0.1

0.0

—

Groundwater

152.0

137.3

-9.7%

Municipal water

258.0

271.9

+5.4%

Seawater

0.0

0.0

—

Total

410.1

409.2

-0.2%

2022

2023

13.0

% change

23.4

13.0

+80.0%

23.4

80.0%

Water Discharged (ML)
2022

2023

% change

27.0

15.2

-43.7%

15.0

8.1-46.0%

349.0

353.3

+1.2%

6.0

9.1

+51.7%

397.0

385.7

-2.8%

Risk identification and mitigation
The enterprise HSE team oversees water quality standards and provides site teams witheffective tools to manage risks, promote effective water management and elevate ourconservation practices. Our global water quality protection procedure sets the minimum
standards and requirements for all sites and operations globally, regardless of risk

profile. Sites with high or extremely high water risk are required to complete an additional
assessment to evaluate their activities where water is used and identify options forconservation, improved efficiency and risk mitigation. In 2023, 17 water conservation andmanagement assessments were completed.

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AppendicesProtecting biodiversity and natural capital
We are committed to minimizing our adverse impacts on biodiversity, protected areas

and areas of significant biological value at or near all our operational sites. We endeavor
to minimize our environmental footprint, conserve natural habitats and protect andrestore ecosystems through nature-based projects. Our conservation efforts focus oninternal standards for establishing sites in new areas, sound environmental practices

throughout our existing operations, employee volunteer efforts and foundation grants to
support environmental efforts.

As part of our commitment to biodiversity, our strategy aims to assess 100% of sites on

biodiversity risk by 2030 and implement risk management programs for any identified

high-risk sites. In 2023, we started training and awareness initiatives to progress this, withmore engagements planned to achieve our strategic outcome.

Assessing our impact on biodiversity
We recognize the UNESCO “No-Go” commitment for Natural World Heritage sites as
an important program for the protection of unique and valuable locations. We areconcerned about the potential effects that industrial operations could have on protected
and ecologically sensitive sites. In 2023, we continued our methods of engaging internal

stakeholders to complete in-depth reviews of our sites. This includes locations in Mexico,Angola, Australia, France, Germany, the United States and the United Kingdom.

We publicly disclose the presence of International Union for Conservation of Nature (IUCN)Red List species on or adjacent to our Company locations. Based on our review, we had

a total of 20 sites impacting, located adjacent to, or in protected areas. We identified 433
species on the IUCN Red List that have habitats in areas that may be potentially affectedby our operations. This is an increase from our 2022 reported species of 392. A total of 275
species reported this year are classified as least concern. The increase in the number of

species reported is attributed to the addition of sites in 2023 and the higher species countfor areas in Alaska.

We have integrated biodiversity assessments for all new or potential facilities for the past
three years. We aim to ensure that all facilities are thoroughly assessed to understandpossible impacts on surrounding communities, protected areas or species.

For our industrial sites, the review of environmental risks includes sensitive habitats,such as wetlands and the potential presence of protected species. We conduct formal

environmental impact assessments as required by local regulations. This is particularly
important for new business activities worldwide due to the continuing changes to ourreal-estate portfolio.

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AppendicesSpotlight on progress
Biodiversity risk assessments
Strategic Outcome: Assess 100% of sites for biodiversity risk by 2030 and implement risk
management programs for high-risk sites

Evaluating newframeworks

Business Need: We have an obligation to limit the impact that our operations have on

the wildlife and biodiversity around them. To accomplish this, we require assessments ofall of our sites and processes to limit exposure to at-risk sites.

In 2023, a strategic working group

Business Impact: In 2023, we started developing a comprehensive risk assessment

began evaluating the Taskforce on

program based on our current annual biodiversity survey. It will serve as the backbone

Nature-related Financial Disclosures

for measuring the level of biodiversity and environmental risk at each of our locations.

(TNFD) framework. Our framework

Laying the groundwork and defining these reporting parameters prepares the sites withevaluation began our journey

the knowledge to assess and understand the requirements for upcoming biodiversity

to incorporate nature-related

regulations accurately.

dependencies, impacts, risks andopportunities into our operations

Supporting UN SDGs:
In support of UN SDG target 15.4: Ensure the conservation of mountain ecosystems,
including their biodiversity, in order to enhance their enhance their capacity toprovide benefits that are essential for sustainable development. We are committed
to minimizing our adverse impacts on biodiversity, protecting areas and areasof significant biological value at or near all our operational sites. We endeavor tominimize our environmental footprint, conserve natural habitats and protect andrestore ecosystems through nature-based projects. As part of our commitment tobiodiversity, our strategy aims to assess 100% of sites on biodiversity risk by 2023 andimplement risk management programs for high-risk sites.

and decision-making processes. We
will continue to evaluate the TNFD

guidance that was published in 2023.

Contributing to reforestation efforts
Through the Baker Hughes Foundation, we develop partnerships with conservation

organizations and fund environmental projects that protect biodiversity and minimize theeffects of climate change. While Baker Hughes is not involved in deforestation, we strive tosupport environmental projects, such as the preservation of sensitive forest areas.

See our One Tree Planted Spotlight on Progress in the People chapter for more details.

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AppendicesPositioning ourselves early asa key technology provider
Our proactive policy framework
People around the world are calling for greater sustainability in their communities andgovernments are responding. As part of our sustainability strategy, we track policies

Emissions abatement

worldwide to remain a leader in bringing solutions to our customers. Anticipating policy
developments helps us identify regions and sectors where policies are constructive to

Baker Hughes has more than 40 provensupporting technologies such as carbon capture, hydrogen, geothermal and emissions

emissions management technologies

management. We also provide technical assistance to governments so that policies arethat result in emission reduction, withtechnology-neutral and achieve societal objectives.

solutions available from the reservoir
to midstream and downstream. This

Understanding sustainability policy also makes good business sense. It helps us better

includes gas technology solutions andunderstand our customers’ needs and how best to address them. Governments are

upgrades that can extend equipment

setting targets and associated regulations to reduce emissions and pushing companies

life, enhancing availability andto disclose their environmental impacts. Whether it be new regulations to disclose

performance while contributing toclimate risk in the United States or a broader set of disclosures concerning environment,

further emissions reductions.

social and governance in the European Union, we strive to be ahead of the curve in

In 2023, we continued to focus onterms of compliance. Our approach to public policy has helped us recognize this push

for transparency and develop new ways to provide related information to our customers.

enhancing equipment efficiency,

Developing low carbon energy solutions— including looking at innovative

starting from the design phasematerials for manufacturing - because
increased efficiency ultimately leads
to less emissions. At Baker Hughes,

We have over 10 years of experience developing technology solutions that address
several areas within the CCUS value chain. These include technologies for post-

we are committed to doing our part

reservoir integrity and monitoring.

across the upstream, midstream andby reducing potential methane leaks

combustion capture, compression, flexible pipelines, subsurface storage and long-term

downstream gas value chain.

Although we have executed many global projects in these areas, we need to go beyond

our current state and continue to innovate to enable our partners to utilize lower carbon

solutions. Therefore, we are collaborating with industry leading companies to further our
involvement and expertise in direct air capture and carbon capture.

We have been active in geothermal hotspots for over four decades with projects in more

In March 2023,

energy technology to advance long-term solutions for a lower carbon era, including

we announced atotaling $0.6 billion for IET and $0.2 billion for OFSE.

memorandum ofthan 30 countries across six continents. The Company is also investing in sustainablehydrogen, geothermal and CCUS, while growing our new energy portfolio and orders
Supporting UN SDGs:

understanding with

In support of UN SDG target 7.4: By 2030, enhance international cooperation tofacilitate access to clean energy research and technology, including renewableenergy, energy efficiency and advanced and cleaner fossil-fuel technology andpromote investment in energy infrastructure and clean energy technology. We
made a strategic investment with Baseload Capital, a specialized investment
entity that funds the deployment of geothermal heat and power. This investment
lays the groundwork for funding high-potential opportunities for development andoperation while simultaneously propelling next-generation geothermal, hydrogenand CCUS technologies from pilot stages to commercial scale.

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Ecopetrol to foster theuse of geothermalenergy in Colombia.

PeoplePlanetPrinciples

AppendicesUtilizing geothermal energy
Geothermal energy and related technology innovation is a continued priority for Baker
Hughes. We continued to make progress on top of our long history with geothermal

We continued to expand and reachmilestones in 2023 which include:

the achievement of a lower carbon world. In 2023, Baker Hughes continued to take an•

involvement; we believe that geothermal energy is a long-term solution that will support
active role to accelerate the investment and importance of geothermal energy use.

We established our new Hydrogen

Testing Facility, which allows Baker

Hughes to test turbines under all project

Our active history in geothermal hotspots spans over four decades, with projects in moreconditions, providing our customers withthan 30 countries across six continents. We champion continuous investments acrossenhanced operational confidence.

sustainable energy technology in order to support innovation for a better future.

•

Developing hydrogen solutions

The NovaLT™16 turbines underwent

full load testing at the newly unveiled

Hydrogen Testing Facility. This family of
turbines can be deployed for a variety

We know hydrogen is a key long-term player in the energy transition. The combustion ofof industrial applications, includinghydrogen produces zero emissions and the production of hydrogen can be completed

combined heat and power, as well as forwith little to no emissions. Both of these facts make it a key player in our CTS portfolio.

pipeline and gas storage operations.

Baker Hughes has been developing technologies and solutions in the hydrogen spacefor over 100 years, with capabilities serving the entire value chain — compressors, gas

turbines, valves, centrifugal pumps, non-metallic pipes, hydrogen sensors, monitoring anddiagnostics solutions for production and storage.

Since our introduction into the hydrogen space, we have 2,250+ hydrogen compressors
installed, as well as more than 70 active hydrogen projects with our turbine technology.

Increasing our research

Climate change as a financial risk and opportunityand development funding

At Baker Hughes, we recognize the challenges of climate change, but we also see theover year

opportunities for growth that stem from a resource-constrained but innovative world. The
transition to a low carbon economy is a driving factor of our strategy and we made it apriority to enhance our business resiliency by pursuing new commercial opportunities for
us and our customers while managing physical risks to the Company.

by external sources year

We partner with research centersworldwide on projects that scale up
the energy solutions of tomorrow,often joining with our customers to

To position ourselves for long-term success, our business, in accordance with the Task

create diverse consortia that include

Force on Climate-Related Financial Disclosures (TCFD) recommendations, developed

academic institutions, government andquantitative analyses of physical and transition risk due to climate change. These

analyses helped provide more insight on diverse implications of changing climate on ourbusiness over three time horizons: short-term (five years), medium-term (5-10 years) andthe private sector. We also aim to build

on our technology by developing new
products and patents that keep us at

long-term (beyond 10 years).

the forefront of the competitive market.

In line with the TCFD recommendations, we divide our risk assessment into two major

Government grants for research,

categories: risks related to the physical impacts of climate change as well as risks anddevelopment and deployment are an

opportunities related to the transition to a lower-carbon economy. To that end, we areimportant indicator of our successin leveraging these opportunities. In

continuously working on improving methodology and data accuracy. In 2023, we fully

2023, we received more than triple theautomated our TCFD physical risk computation process.

amount of grant awards over the prioryear where Baker Hughes was either a
primary or sub-recipient on a project.

We are also involved in a number ofprojects where we do not receive funds
but are providing a share of the total

cost to support their success.

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Physical risk management
A comprehensive and robust physical risk assessment program is important to satisfy the

Detailed weather risk profiles andassessment enables informed decisions on where and when to allocate our capital andare available for every single facility,

requirements of governments and regulatory bodies in a growing number of countries. This

related financial exposure calculations

resources to prevent or mitigate the impact of climate change.

country, business segment and product

Our physical risk assessment determines risks related to specific weather perils and financial

assessment into our enterprise riskline. We incorporate the results of thisexposure for all Baker Hughes facilities worldwide. In addition, we determine risk of business

management, business continuity andevents for 10 diverse types of weather using Jupiter ClimateScore™ predictive climate data

our mission critical sites and soledisruption for selected sites of our critical suppliers. We highlight the risk of severe weather
analytics, according to three scenarios: RCP2.6, RCP 4.5 and RCP8.5 by Intergovernmental

Panel on Climate Change’s (IPCC) fifth revision of projected socioeconomic global changes
scenarios (IPCC SSP5). We then specifically modeled potential losses related to damages,

business disruptions and productivity losses for the four most impactful weather perils: flood,
wind, extreme heat and wildfires between 2020 and 2050.

facility response planning, prioritizing
source suppliers in locations withmoderate to high risk of losses related

to weather perils. Furthermore, the data
is beneficial in mid- and long-term

strategic business planning, helping to
identify and mitigate risk exposures toour infrastructure and logistics. Data is

In 2023, our sustainability and digital technology experts collaborated to automate thephysical risk assessment and develop data extraction and visualization tools. Simultaneously,
we also provided insights and training to Baker Hughes’ functional managers to help themaccess the rich information provided by the analyses and promote its use.

also harmonized with our environmental
impact investment decisions and weare starting to incorporate it in due

diligence for mergers and acquisitions
to ensure that we are managing cost

For our operational footprint in 2050, we estimate average annual maximum losses ofand risk using all available information.

approximately $49.1 million in damages, $165.9 million in business disruptions and $10.4

million in productivity losses based on a greater than 4°C IPCC climate scenario (SSP5-

RCP8.5), with total maximum exposure of $225.4 million, compared to $197.8 million in 2020,
a 14.0% increase. Higher risk exposure in 2050 is driven by the rising probability of extreme
weather events or their increased severity for some locations in the next 30 years.

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AppendicesTransition risk and opportunity
Transitioning to a lower carbon economy requires extensive policy, legal, technology andmarket changes. There is increased focus from governments and our customers, investors
and other stakeholders on climate change, sustainability and other energy transition

matters. Concerns and perceptions of industry or fossil fuel products and their relationshipto the environment have led governments, non-governmental organizations andcompanies to implement initiatives to conserve energy and promote the use of alternative
sources, which may reduce the demand for and production of oil and gas in areas of theworld where our customers operate and thus reduce future demand for our products andservices. In addition, initiatives by investors and financial institutions to limit funding tocompanies in fuel-related industries may adversely affect liquidity and access to capital.
The transition risk assessment derives estimated financial impact on our business frommodeled portfolio responses to three energy market scenarios as published by theInternational Energy Agency: the 1.5°C Net Zero Emissions by 2050 Scenario, the Announced
Pledges Scenario and Stated Policies Scenario. These scenarios lay out three distinct

trajectories for future energy markets based on different adoption speed for the reductionof anthropogenic GHGs. When applied to our existing portfolio, these might drive wide
revenue impacts across different businesses.

The analysis also provides better understanding of new markets and helps estimate yieldpotential from future portfolios. While we recognize the potential for transition risk, we areresolved to play a key role enabling an orderly low carbon transition. Our future successmay depend upon our ability to effectively execute on our energy transition strategy,
including our capacity to develop additional innovative technologies and work withcustomers and partners to advance our new energy portfolio such as CCUS, hydrogenenergy, geothermal and other integrated solutions. If the energy landscape changes fasterthan anticipated or faster than we can transition, or if we fail to execute on our energy

transition strategy as planned, demand for our technologies and services or access tocapital could be adversely affected.

In the long-term scenario, we predict that our existing portfolio will generate growth under
the Stated Policies Scenario, accompanied by increasing revenue contributions from ourenergy transition portfolio. We also estimate that any potential material declines in revenue
from our current portfolio under the Announced Pledges Scenario or the Net Zero Scenario
can be mitigated by revenue growth from our energy transition portfolio.

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AppendicesPrinciples
Our Principles strategy

98

Ensuring sustainable governance

99

Championing ethics and compliance

105

Upholding the highest HSE standards

113

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Baker Hughes97

Our Principles strategy
What’s new in 2023
In the following sections, you will
read about actions we’ve taken toadvance our Principles strategy
as well as some of the impactful
initiatives to show our progress.
Some headlines, that will becovered in more detail include:
We established the Global FRAME(Fit for Remote Assignment MedicalExam) and Malaria Prevention
Program, which are designed
to reduce risk by keeping our
employees healthy and able todeliver our services and products
for our customers.
Results from our human rights
survey with our suppliers indicatedthat more than 90% of respondentsalign with the Baker Hughes
supplier code of conduct.

As a company, we are committed to delivering on our corporate strategy ethically andsustainably to instill trust in our employees, customers, shareholders and local communities.
To deliver on this promise, we must be transparent in the challenges we face and how wemitigate them. Since the release of our Principles strategy in 2022, we have endeavored
to uphold the highest health, safety and environmental standards while championing

compliance and ethics throughout our business. We must continue to do our part to leadwith integrity, foster a culture of transparency and take energy forward.

This is why we incorporate strong governance practices that identify our key challenges andthe controls we have in place to mitigate risks.

Goals

Objectives

Drive a cultureof transparency
and integrity —doing the rightthing beyond
complianceChampion•compliance and ethics

what we aim to deliver

how we will deliver success

Ensure sustainable
governanceWe enhanced existing processes
for recording and monitoring
the resolution of human rights
grievances.

Take energy
forwardresponsibly
and with
integrity andtransparency

Uphold the highest
health, safety andenvironmental
standards

Strive for principled,
diverse and inclusive
supply chains

Strategic Outcomes
how we will track progress

100% of targeted personnel training
annually on human rights policies
and procedures•Specialized human rights training
completed for >80% SSRP auditors andsourcing by 2025•

Process to record, track and monitor
human rights grievances in place Q1
2024•

100% completion of annual Board
training and select executive staff for
ESG-related topics•

Align annual executive compensation
to ESG outcomes by 2025•

100% of employees including
governance body members
completed Code of Conduct training
annually by 2024•

Total Recordable Incident Rate <0.3•

All Perfect HSE Days

• *Active suppliers assessed forenvironmental criteria every threeyears•

90% of SSRP audit red-flag findings
closed within 90 days•

90% completion rate for SSRP planned
audits• *80% of suppliers agreeing to BH
Integrity Guide by 2030

Figure 5-1: Sustainability Principles Strategy*As defined by SSRP criteria

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AppendicesEnsuring sustainable governanceCorporate governanceOur framework for corporate governance is set forth in our Governance Principles, committee
charters and our Fifth Amended and Restated Bylaws, which can be found on our website.
Our Governance Principles provide guidelines for Board matters, including the leadership
structure of the Board. Written charters for the Board’s Audit Committee, Human Capitaland Compensation Committee, Governance and Corporate Responsibility Committee andFinance Committee describe the roles and responsibilities of each committee.

Our Board of Directors
The Board of Directors for Baker Hughes Company sets high standards for the Company’s

officers, directors and employees, to do the right thing beyond compliance. These standards
include our Code of Conduct, policies and procedures. Strong corporate governance isthe cornerstone of our strategy and helps guide our we do business in a principled, ethicalway that our investors can trust. The duty of the Board is multifaceted. The Board serves asa prudent fiduciary to maximize shareholder value, champion compliance and ethics andensure sustainable governance of the Company’s business. In addition, our Board of Directors
believes that safety, health, integrity, compliance and human rights are foundational

As part of our sustainability strategy,
our Board of Directors received
ESG-specific training in 2023 tofurther enhance their knowledge

and understanding of evolving ESG
matters. Our director education

program assists Board members
in fulfilling their responsibilities.

elements of our culture, driven by our core values to grow, collaborate, lead and care.

In addition to the onboarding

Operating responsibly and with accountability to serve the best interests of our stakeholders
requires sound corporate governance. Our Board recognizes that minimizing environmental

impacts of our operations, fostering employee engagement and respecting human rights bycreating an environment of respect, integrity and fairness for our employees and customers
wherever we do business — is fundamental to the long-term success of our Company.

The Board has adopted and adheres to corporate governance practices, which the Boardand management believe promote transparency within the culture of our Company

and represent best practices. Both the Board and management recognize that the long-program, directors are provided
ongoing education through in-depth presentations on topics suchas strategy, operations, the energy

transition, cybersecurity, ESG-related
issues, enterprise risk management,
DEI and legal and regulatory

matters. These presentations can befrom management or with outside

term interests of shareholders are advanced by responsibly addressing the concerns ofstakeholders and interested parties including employees, customers, suppliers, communities,
government officials and the public at large.

Our Board exhibits a broad mix of skills, experience, diversity and perspectives, collectively
demonstrating leadership and a substantive understanding of our strategy as an energy

experts as needed. The Board

periodically holds Board meetings

at facilities or other sites importantto the business where directors

engage with employees in a more

informal setting. Directors are also

technology company. Our directors’ sustainability expertise includes direct experience

encouraged to attend third-party

with human resources and talent development, legal and corporate governance issues,

educational programs and training.

environmental and safety regulations, along with risk oversight including cybersecurity,

finance and operations. Our Governance and Corporate Responsibility Committee, which

recommends director candidates for annual election, evaluates the composition of the Board
annually and identifies desired skills, experience and capabilities. The committee strives

to maintain a board with varied expertise and perspective and one that reflects diversity,
including but not limited to gender, ethnicity, background and experience.

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Board of Directors management meetings
Meetings of the Board are scheduled quarterly each calendar year, at which it reviews anddiscusses the performance of the Company, its plans and prospects, as well as immediate
issues facing the Company. Directors are expected to attend all scheduled Board andContacting the Board
To provide our shareholders and otherinterested parties with a direct and open

committee meetings and the annual meeting of shareholders.

line of communication to our Board,shareholders may communicate with

In addition, the Board has established the following committees to assist the Board inany member of the Board, including

discharging its responsibilities and general oversight of management, including:our independent lead director, thechair of any committee, or with

• Audit Committee

the non-management directors ofBaker Hughes as a group by sending• Finance Committee

such written communication to our

Corporate Secretary, c/o Baker Hughes

Company, 575 N Dairy Ashford Rd, Suite• Governance and Corporate Responsibility Committee

100, Houston, TX 77079, United Statesor by email at boardofdirectors@• Human Capital and Compensation Committee

bakerhughes.com.

The responsibilities of these committees are available in our Proxy statement.

L to R: Chika Kejeh, Senior Finance Manager- Investor Relations | Sorani Montenegro, Staff
Engineer, Systems, Product Design and Engineering

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AppendicesGovernance of sustainability
The Board’s Governance and Corporate Responsibility Committee has oversight

responsibility of our environmental matters including monitoring our sustainability strategy
and initiatives and management of sustainability-related risks. The Governance andOversight of energy transition
strategy and initiatives
Audit Committee

Corporate Responsibility Committee receives regular reports from management on the• ESG disclosure in SEC filings

Company’s environmental, health and safety, corporate responsibility and sustainability

activities and risks, including progress on our net-zero emission goals and execution, our• Human rights concerns

scope 3 framework, our ESG reporting frameworks and ESG ratings. The Governance and• Cybersecurity

Corporate Responsibility Committee also oversees the publication of this report.

• Supplier audit program

The primary responsibility for developing, managing and executing our sustainability

strategy rests with our management team. Our CSO oversees our sustainability strategy

Finance Committee

and chairs our Sustainability Steering Team. The Steering team works with subject matterworking teams to manage our sustainability priorities, set goals, monitor our progress• ESG investments

and coordinate our sustainability reporting. We also have a formalized sustainability• Investor relations

management structure with designated executive sponsors, including the Chief Legal

Officer, the Executive Vice President of People, Communications and Transformation and the
Senior Vice President of Enterprise Operational Excellence that report to the Chairman of theGovernance and Corporate
Responsibility Committeewith the CSO to embed the developing ESG legal obligations into policies and to promote• Corporate Sustainability Report

Board and CEO. Additionally, we have created a legal sustainability group that collaborates
effective implementation.

• ESG reporting standards/metrics

On a working level, sustainability is driven by a unified approach, across all functions and• HSE program

both segments, working with our People, Planet and Principles teams to operationalize• Human trafficking

sustainability. The actions of these teams are described within this report.

• ESG policy/regulatory updates

So that everyone at Baker Hughes is responsible for sustainability, we plan to align• Charitable giving

annual executive compensation to ESG outcomes by 2025. We have a strong stated• Political contributions

and demonstrated commitment to reduce scope 1, 2 and 3 carbon emissions over time,alongside many additional ESG-related objectives. The ESG-related metrics included in• Board composition and governanceour short-term incentive plan, as discussed and approved by the Human Capital andCompensation Committee each year and socialized with many of our investors during
biannual engagement sessions, including HSE-related goals, DEI representation goals

Human Capital and Compensation
Committee

to our 2019 base year. Also included is development of the scope 3 emissions reduction• DEI

across multiple employee groups and scope 1 and 2 emissions reduction goals relativeroadmap for our internal scope 3 emissions reduction goal. Additional information can befound in our proxy filings.

• Compensation tied to ESG• Competitive benefits and compensation• Talent retention• Succession planning• Training and development• Talent planning/culture for energy
transition

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AppendicesBuffering sustainability risks through ourEnterprise Risk Management process
We identify risks to our strategic and business objectives utilizing an effective ERM process— a risk-based management and continuous monitoring program that is aligned to thebusiness cycle, leading to more informed decision-making and building resilience acrossthe organization.

Our ERM process includes an annual risk review with representatives of business segments
and various functions to proactively identify and monitor key risks and opportunities thathave significant potential to affect our business or strategy.

Key risks are rated according to probability, impact and preparedness. Those that are
identified as material require enhanced monitoring and improvement efforts.

The top identified risks are reviewed with executive leadership for validation and alignment.
Executive sponsors are assigned to the top risks and key risk indicators and mitigation

actions are established. The ERM Steering Committee has oversight over the ERM programand can recommend further analysis or, in some cases, specific improvements to strengthen
the Company’s safeguards.

The ERM program is reviewed annually by the Board of Directors and the top ERM risks arereviewed via various committee meetings.

Given the interconnectedness of key risks, the ERM team works closely with risk champions
across various levels of the organization to introduce, support and promulgate risk

management behaviors and to ensure an integrated approach to risk management.
Fabrizio Paone, Senior Engineer, IET

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AppendicesTax
We are committed to ensuring compliance with tax requirements worldwide and tomaintaining an open and constructive relationship with tax authorities. We have zerotolerance for tax evasion and maintain procedures to prevent the facilitation of tax evasion.
We recognize that, among our duties to our shareholders, we have an obligation to pay

no more tax than is due under the laws and regulations of countries in which we and our
subsidiaries operate, in accordance with rules set by governments.

In 2023, we reported net income tax paid, net of refunds, to governments totaling $595 million.
Our income tax payments are disclosed as part of our audited financial statements. Our
United Kingdom tax strategy is publicly available and can be found on our website.

The Chief Tax Officer is responsible for implementation of our tax strategy, reporting directly
to the Chief Financial Officer. The Chief Tax Officer is supported by a team of internal tax
professionals based in primary operational locations.

We understand that sometimes there is more than one tax outcome in commerciallymotivated transactions. However, we do not willfully engage in tax schemes nor structuretransactions in such a way that our tax team considers the transactions contrary to the clear
intentions of the tax legislation concerned.

Tax incentives and exemptions are sometimes implemented by governments and fiscal

authorities in order to support investment, employment and economic development. Where

these exist and are applicable to our business, we seek to apply them in the manner intended,taking external professional advice where necessary.

We monitor changes in tax laws and tax practices to manage tax risk. This is a key areaof focus of our in-house tax professionals with regular training from both in-house subject
matter experts and external advisors, to train staff on the skills to identify and address
tax risks. Knowledge is shared among the tax group with the discussion of relevant tax
technical information.

Our approach to cooperation and transparency is beneficial to our stakeholders andinvestors, as well as to the governments in countries in which we do business. Transparency
initiatives, such as Advanced Pricing Agreements (APAs), promote several advantages togovernments, including access to business information and strategies as well as efficient
staffing of audit resources. We have several APAs in process with key jurisdictions where
we operate.

We strive to achieve low-risk designations, which allows us to focus the resources of our

tax organization on material transactions and ensure effective and efficient ongoing tax

compliance. Pursuant to U.S. Generally Accepted Accounting Principles, companies typicallyare required to establish relevant tax reserves to cover instances where tax positions are
uncertain, subject to audit or under dispute. We expect our ongoing efforts to engage inbroader transparency with tax administrations to result in lower tax reserves over time.

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AppendicesTax continued

It is our policy to be compliant, transparent and proactive in interactions with tax authorities.
Where appropriate, we will engage with tax authorities to assist with the shaping of future

legislation and tax policy. We will make fair and accurate disclosures in correspondence andreturns and respond to queries and information requests in a timely manner.

Where disputes arise with tax authorities, in areas of doubt or where legal interpretations

differ, we endeavor to address the matter promptly, provide support for the position taken
and resolve it in a responsible, open and timely manner.

Questions or concerns about issues related to tax can be reported through:•our public website reportconcerns.bakerhughes.com•

or by calling 1-800-288-8475 (toll-free, U.S. only)

The tax department plays a critical role in delivering value for the organization in four key

areas of our sustainable development strategies: funding initiatives through grants, credits
and discretionary incentives; understanding how to unlock value in indirect tax, property
tax and excise tax; identifying value chain opportunities; and evaluating mergers andacquisitions through a sustainable business value lens.

Tax can provide guidance on how to claim and utilize grants, credits and discretionary

incentives. The United States’ Inflation Reduction Act’s energy transition-related provisions
highlight the tax function’s key role in advancing decarbonization goals and related
investments in our sustainable development strategies.

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AppendicesChampioning ethics andcompliance
Ethics and Compliance
We have a leading global ethics and compliance program, which is designed to prevent,detect and appropriately respond to potential violations of law, our Code of Conduct andother Company policies and procedures. We believe this commitment to integrity

across the entire organization is fundamental to running a sound, successful and sustainablebusiness. Employees are encouraged to report any ethics or compliance concerns andcan do so via a global network of trained employee ombudspersons; a dedicated website
where employees can raise concerns anonymously; and a worldwide, 24-hour integrity

helpline operated by a third party and available in approximately 150 languages. We recently
complemented our formal compliance training program with monthly campaigns intended

to reinforce key messages about open reporting and other key integrity topics, including antibribery and anti-corruption awareness.

Our Code of Conduct, approved by our Board of Directors, governs our behavior. Our

compliance team, led by our Chief Compliance Officer, is tasked with the operationalizationof the Code of Conduct.

In order to drive a culture of transparency and integrity, our people are our compliancechampions. In 2023, as a best practice, our Code of Conduct was reviewed and updated
to reinforce our unified company culture of “One Baker Hughes.” Our goal is to equip our

employees with the proper tools required to make principles-based decisions. Throughout
the year, we leveraged working groups to capture input from the greater Baker Hughesorganization along with external benchmarking to identify best practices. The new Code of
Conduct sets forth the cultural integrity expectations that serve as the foundation for oursustainability framework, including People, Principles and Planet and our strategic businessobjectives as an energy technology company. Having sustainability embedded within our
Code of Conduct is a critical step to weave sustainability more deeply into our culture.

Emerging legal risks, such as modern slavery, were also incorporated to define our stance against
moral hazard. To emphasize our messaging further, our CEO reinforced his expectations of Baker
Hughes employees in his address to our employees in our Code of Conduct.

Our 3-in-1 Code of Conduct training equips our employees with the knowledge to judge the moral
legitimacy of their decisions and apply our core values in business decision-making processes.

In addition, the compliance program
executes monthly awarenesscampaigns on timely and current

compliance topics facing the Company,
the industry or the market. Integrity
Moments are used by our people

leaders to reinforce governance policies
and messaging from our executive

leaders on compliance during internaland external meetings. We maintainan online library of Integrity Moments
available to all employees.

Employees, including senior leaders, are required to annually complete online training on our

Code of Conduct, which includes training segments on policies and procedures for human rights,
anti-corruption, data privacy, cybersecurity, conflict of interest, trade compliance and othercompliance topics. Our Board of Directors also annually certify to our Code of Conduct. In 2023,
99.0% of governance body members and 97.5% of the entire employee population completed
the annual Code of Conduct training. As part of our objective to champion compliance andethics, each year we aim to reach 100% of our employee population, including governance bodymembers, completing the Code of Conduct training.

Silvia Sarti, Operations Leader, IET

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AppendicesSpotlight on progress
Strive for principled, diverse and inclusive supply chains
Strategic Outcomes: Active suppliers assessed for environmental criteria every three years;
Supplier Social Responsibility audit red-flag findings closed within 90 days; completion rate
for SSRP planned audits; suppliers agreeing to BH Integrity Guide by 2030

Business Need: Our SSRP program helps us monitor our supply chain and address concerns
in a timely manner. Ensuring integrity within our supply chain helps our business maintaina high level of accountability for our stakeholders. Governments across the world are

beginning to pass new legislation requiring companies to identify, prevent and address
the adverse impacts of their activities on human rights, the environment and good

governance throughout their supply chains. These types of legislation aim to promoteresponsible business conduct and contribute to sustainable development goals. As

part of our sustainability strategy, we will be implementing specialized human rights
training for our SSRP auditors and sourcing team by 2025. Last year, our 2022 CSR set
forth aggressive goals for our supply chain organization.

Impact: Our SSRP is intended to set standards for and monitor compliance of HSE

performance, ethical conduct relating to human rights, fair treatment of workers andsecurity. In addition, the program seeks to prevent, detect and appropriately respond toany potential violations of the law or Company policies. By 2030, we aim to have 80% of our

suppliers agreeing to our Supplier Integrity Guide or equivalent. In the third quarter of 2023,
we launched a human rights survey to gain further insights from our supply chain.

Thus far, more than 90% of respondents align with Baker Hughes’ Supplier Code of Conduct.
As a part of the SSRP, all new direct material suppliers are screened and assessed for social

risks. Suppliers flagged as “high-risk” in these topics are further audited. If we find a supplierin violation of the responsibilities outlined in the Baker Hughes Supplier Integrity Guide,

we suspend business relationships with them immediately. As of December 31, 2023, weachieved our goal to have a 90.0% of SSRP audit red-flag findings closed within 90 days.
Throughout our supply chain, it is our goal to do business in the communities where we

operate. Our local spend is the procurement dollar amount spent with suppliers local to theoperation. During the calendar year, our annual local spend with Tier 1 suppliers was steadyat 80.0%.

Baker Hughes is part of a broad global supply chain and we aim to ensure the suppliers

we work with adhere to high standards. As a major equipment manufacturer and service
provider, we continue to raise the bar of our industry & supply chain through our policies

and programs. Our Supplier Integrity Guide governs key aspects of our relationships with
suppliers, contractors, consortium partners and consultants.

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AppendicesSustainability Support Center
As we continued to better understand our customers’ needs and meeting the increasing
demand for verified ESG data, we continuously focus on enhancing our Sustainability

Support Center (SSC) since its establishment in 2021. The SSC is our one-stop shop for internal
employees to request ESG information. Through our SSC, we provide investor-grade data

to drive quality decision making, enable collaboration with our customers and reduce risk
within the Company.

The SSC provides a key support service

to our operating segments by verifying
emissions reduction claims related

to our specific products. In its second

The SSC allows us to provide verified data to assist in bids, tenders and projects, as well

year of service, we leveraged our LCA

Additionally, all emissions claims, such as reductions from operations, progress towards

the quantification and analysis ofas to fulfill other customer and stakeholder requests that come in via our employee base.

tool across all products lines to drive
the estimated cradle-to-grave CO2e

net-zero goals or emission reductions associated with a product or service, must be

emissions impact of our products andreviewed and validated by the SSC.

services. As we continue to develop

tools and platforms to better quantify

In 2023, we received nearly 600 internal requests for topics including ESG management,

the emissions related to our productssocial risks, emissions, emission reduction initiatives, supply chain, policy requests, ISO

certification, non-discrimination policies and disclosures for our customers. Each request
is received by our team of subject matter experts, who are uniquely trained to provide

and services, we also empower ourcustomers in their net-zero journeywith integrity.

verified data or qualitative responses. Following a rigorous vetting process, our team isable to remit timely responses.

Spotlight on progress
Supply chain and human rights
Strategic Outcomes: Achieve 100% of targeted personnel trained annually on human rights

policies and procedures; specialized human rights training completed for >80% SSRP auditorsand sourcing by 2025; process to record track and monitor human rights grievances in placein Q1 2024

Business Need: Several jurisdictions increased mandatory reporting requirements forhuman rights due diligence. We took steps to further clarify our human rights expectations

for our direct suppliers in the Supplier Integrity Guide and enhanced our own due diligenceassessments to drill deeper into specific human rights risks.

Impact: In 2023, we continued to enhance our human rights governance program. We

identified a human rights program lead and a multifunctional human rights working group to
guide the operationalization of our human rights program. We further developed processes
for recording and monitoring the resolution of human rights grievances.

We provided our direct suppliers training on human rights issues and the process ofconducting due diligence within their own supply chains. We also engaged with the

Responsible Minerals Initiative to address the potential for systemic human rights issues
further up the supply chain.
Supporting UN SDGs:
In support of UN SDG target 8.7: Take immediate and effective measures to eradicate
forced labor, end modern slavery and human trafficking and secure the prohibitionand elimination of the worst forms of child labor, including recruitment and use of childsoldiers and by 2025 end child labor in all its forms.

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Appendices

Open reporting and consultation
We believe that a culture in which all employees maintain the highest levels of integrity,
conduct business in a professional manner, treat one another with dignity and respectand support open communication without repercussions creates a better and moreproductive work environment.

How to report a concern:

Employees and other stakeholders have several ways to raise compliance concernsa. by calling 1-800-288-8475 (toll-free,tolerance policy against all retaliation. Our Fair Employment Practice policy prohibits

U.S. only)

b. by emailing bakerhughes.Ombuds@
bakerhughes.com

c.

and they are encouraged to report any ethics or compliance matters. We have a zeroretaliation against an employee for raising a concern about a potential violation ofpolicy or law. Reporting mechanisms include raising a concern with their direct manager;
a global network of Ombuds; a dedicated website where employees can report concerns
and anonymize if desired; and a worldwide, 24-hour helpline operated by a third party

Baker Hughes Compliance andEthics Reporting Center website

d. 575 N Dairy Ashford Rd, Suite 100,
Houston, TX 77079 United Statesthat is available in approximately 150 languages. All concerns raised are investigated
and treated confidentially.

We take all allegations regarding our Code of Conduct, our policies and the law seriously.

We investigate allegations with a rigorous and disciplined investigation process that drives

consistency in process and in application. In 2023, we created Segment Disciplinary Review
Committees that manage the implementation of disciplinary measures involving thepotential of termination to ensure there is fair and consistent discipline applied on a
global basis within the Company.

Anti-bribery and anti-corruption
In addition to our Code of Conduct training, which is aimed at preventing unethicalbehavior, we employ additional measures to monitor and mitigate high-risk areas. Our
Code of Conduct includes a summary of our global anti-bribery and corruption policy,

which prohibits bribery and facilitating payments in all business dealings, including withgovernments, employees of state-owned companies and private sector entities. We haveinternal controls to address bribery risks, including online and live trainings in countries
where we operate and policies addressing compliance-sensitive activities, such as

travel, expenses, charitable donations and transactions with third parties, including
channel partners.

For our ERM process, leaders from each business segment and functions hold workshops

each year to discuss and assess compliance risks and deploy risk mitigation plans. In 2023,
our two business segments, comprising 100% of our operations, were assessed for risks

related to compliance. Relevant risks identified as part of this process include bribery andcorruption risks within our value chain.
Supporting UN SDGs:
In support of UN SDG target 16.5: Substantially reduce corruption and bribery
in all their forms.

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AppendicesHuman rights
Human rights are fundamental rights and freedoms to which every individual is equallyand inalienably entitled. We recognize human rights as a universal obligation to uphold anda core principle to our business practices. As a signatory of the UN Global Compact (UNGC),
we are committed to advancing the Ten Principles of the UNGC and the SDGs.

Our Human Rights Policy applies to all employees, business partners, vendors, suppliers andcontractors. This policy is informed by the UN Guiding Principles on Business and Human

Rights and our Code of Conduct. It is supported by a framework of policies and guidelines,

setting forth the expectations that we do what is right and safe, considering the well-being ofour people, suppliers, customers, communities and environment.

We integrate onboarding, training, management, due diligence and reporting systems toidentify, prevent, mitigate and take prompt corrective action where appropriate to address
identified compliance issues. Due diligence tools we rely on include, but are not limited to,legal and regulatory compliance reviews and supplier audits. When adverse human rights
impacts are identified relating to our business activities or from linkages to our operations,
we are committed to taking timely and transparent action, including appropriate steps,

where relevant, to remediate them in a fair and equitable manner. Grievance mechanisms
are available for individuals across our value chain. Confidentiality is respected andindividuals may choose to remain anonymous.

Stefano Vanghi, Team Leader - Testing
and Qualification, IET

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AppendicesOur human rights pledge
A human rights program lead was appointed in 2023, adding leadership to our humanrights governance. To aid in the operationalization of our human rights program, we alsoestablished a multifunctional human rights working group. Furthermore, we enhanced

existing processes for recording and monitoring the resolution of human rights grievances.
With the increase in mandatory reporting and human rights due diligence requirements inseveral jurisdictions, we focused on our supplier diligence policies and practices. We further
clarified the human rights obligations for our direct suppliers in our Supplier Integrity Guideand enhanced our own due diligence assessments to drill deeper into specific human rights

Commitment at
Baker Hughes
We consistently endeavor to serve as arisks. We provided our direct suppliers training on human rights issues and on the process ofrole model for high ethical conduct andWe also engaged with the Responsible Minerals Initiative to address the potential forsustainable development and respect

conducting due diligence within their own supply chains.

to promote a culture of responsibility,
for human dignity throughout oursystemic human rights issues further up the supply chain.

global operations and value chain. We
place integrity first and value the trust

We commit to responsible business practices, high standards of integrity and ethicalof our employees, customers, businessconduct, compliance with all applicable laws and respect for the rights and dignity of allpartners, suppliers, contractors,

people. We respect human rights as expressed in the International Bill of Human Rights

and the fundamental conventions of the International Labour Organization Declaration on
Fundamental Principles and Rights at Work. If there is a conflict between internationallyrecognized human rights and national laws, we will follow processes that seek ways to honor
the principles of international human rights.

vendors and the broader communities
we operate in and serve. Compliancewith high ethical standards, goodbusiness practices and respect for local

laws and regulations is a cornerstone ofdeveloping and sustaining this trust.

The importance we place on respecting human rights is reflected in the fact that humanrights are incorporated into our sustainability strategy, underpinning our commitment toConsistent with our longstanding

We prohibit slavery, servitude, forced and compulsory labor, human trafficking and child

servitude, forced labor, child labor

employee or applicant based on race, color, religion, national or ethnic origin, sex (including“modern slavery.” We have and willor other characteristics protected by law (see our Fair Employment Practices Statementand detect modern slavery and otherintegrity and ethical conduct.

principles, we stand firmly against all

forms of exploitation including slavery,

labor — collectively “modern slavery.” We prohibit discrimination or harassment against any
pregnancy), sexual orientation, gender identity or expression, age, disability, veteran status

and human trafficking – collectively

continue to take measures to prevent

human rights abuses in our operations

available on every vacancy announcement).

and our supply chain.

We seek to provide a work environment free from all forms of harassment and bullying,(Please continue to read the remainder

including sexual harassment and furthering workplace health and safety.

of our Modern Slavery Act Statement for
more information.)

We respect the freedom of association and the right to collective bargaining.
We respect individual privacy rights and commit to processing, collecting, handlingand protecting personal information responsibly, in compliance with applicable privacy andinformation security laws, our Data Privacy Policy and related policies, guidelines
and notices.

We respect the human rights of local communities, including vulnerable, marginalized andindigenous groups. Our businesses engage with communities, customers, local governments
and other key stakeholders to integrate local considerations into operational plans. In
instances where local communities may be adversely impacted by our activities, ourbusinesses are supported by functional teams and processes which work to manage andmitigate potential impacts on public well-being.

Erica Scrinzi, Senior Team Leader
Materials Science, IET

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Appendices

Data privacy and cybersecurity
We respect rights to data protection and privacy. In 2023, we had three identified leaks,

thefts, or losses of customer data and three substantiated complaints received concerning
breaches of customer privacy.

We maintain cybersecurity and digital trust, including data privacy, data governance anddata protection compliance programs, aimed at protecting our systems and information,complying with relevant laws and regulations and maintaining a high level of trust. Our

programs are focused on building digital trust through sound oversight of cybersecurity
and data privacy protections and the responsible use of data and technology.

We protect our digital systems and data through a comprehensive cybersecurity

management program and we operate an integrated Cyber Fusion Center to coordinate

resources, reduce incident response time and shift toward a proactive cyber-defense model.
Oversight responsibilities for our cybersecurity and digital trust compliance programs

and risks lie with the Audit Committee of our Board of Directors. To emphasize the Board’s

commitment to cybersecurity, Director Rice obtained the National Association of Corporate

Directors’ CERT Certificate in Cyber-Risk Oversight in 2023. The Board recognizes the rapidly
evolving nature of cyber threats and is committed to the prevention, timely detection andmitigation of the effects of any such incidents on the Company and our stakeholders.
Our Audit Committee receives reports on the Company’s cybersecurity program anddevelopments from our Chief Information Officer and Chief Information Security Officer atscheduled Board meetings. These reports include analyses of recent cybersecurity threats
and incidents across the industry, review of our own security controls, assessments andprogram maturity and risk mitigation status.

Our executive leadership is actively engaged in the oversight and strategic direction of ourcybersecurity and digital trust compliance programs along with our risk mitigation efforts.

Incident reporting and management
Employees and stakeholders can report cybersecurity threats, data privacy incidents orother concerns through external and internal reporting channels. We have establishedpolicies and procedures for responding to cybersecurity and privacy incidents, including
protocols for escalating to executive leadership, engaging external stakeholders andreporting incidents. In response to new regulations adopted by the Securities and Exchange
Commission (SEC) requiring registrants to disclose material cybersecurity incidents

experienced and to annually disclose material information regarding their cybersecurity risk
management, strategy and governance, Baker Hughes developed a Cybersecurity Incident
Checklist for SEC Materiality Assessments and Disclosures.

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AppendicesCybersecurity
We leverage the United States National Institute of Standards and Technology cybersecurity
framework to inform strategic direction and prioritize maturity improvement. We engage
third-party security experts for risk assessments and program enhancements, including

Product security

campaigns. We also maintain information security risk insurance coverage. The Company

Our product security approach spans

vulnerability assessments, cybersecurity tabletop exercises and internal phishing awarenesshas not experienced a material cybersecurity breach to date.

three critical cornerstones: people,
process and technology.

Spotlight on progress

It is based on international standards,

regulations and industry best practices,

Cybersecurity awareness campaigns

such as:Business Need: We need to have cyber-conscious employees to make our organization•

more secure and protect us from cyber attacks.

Impact: The Cyber Security Awareness Champions Program is a group of coworker•

ambassadors dedicated to bringing valuable information, knowledge and tips to theirrespective departments to ensure our organization is cyber secure. This program is centeredaround the organization’s awareness theme of: Know. Do. Share. These ambassadors share
best practices throughout the organization to help ensure that our employees know how tospot cybersecurity risks and the best ways to protect themselves.

ISO 27001 — Information technology— Security techniques

IEC-62443 suite — Industrial Network

and System Security

This holistic approach seeks to ensurethat organizational and technicalsecurity measures are integrated into

the product development lifecycle at allstages, from requirements specification

Privacy and digital trust complianceto design, implementation, operationand maintenance. Methods and tools
commonly accepted by both the

Baker Hughes’ Global Digital Trust Compliance Program helps ensure that business andsecurity and industry communities are

personal information is protected and handled in accordance with applicable laws,

used to ship products free of known

standards for privacy, cybersecurity and information governance, our policies andapplicable contractual obligations. The mandate and goal of our Digital Trust Compliancevulnerabilities.

Program is to mitigate risks with a trust-centered purpose and to drive accountability forcompliance business obligations and responsible use of data and technology through ourCompany’s values, our Code of Conduct and our integrity programs. The program includes
policies and procedures, enterprise risk assessment, privacy impact assessments, incident

response and management, regular internal reviews, mandatory cybersecurity and privacy
training and ongoing awareness campaigns for our employees to understand our policies
and compliance requirements relevant to their functions.

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AppendicesUpholding the highest HSE
standards
Data at a glance:

Spotlight on progress

We saw progress on HSE
engagement and training.

Strategic Outcomes: Uphold the highest HSE standards; all perfect HSE days.
Business Need: We must continuously maintain a safe working environment for our
employees and our customers.

Impact: Our HSE training helps to educate and maintain our employee’s knowledge of safe
working practices and procedures, increase awareness of risks and lower our incident rate.
Our management maintains a goal of all Perfect HSE Days for our operations annually,

helping to maintain vigilance for our safety culture. Measuring and analyzing impacts that
reduce our perfect days enables us to reflect and improve.

We are committed to acting responsibly and promoting a healthy, secure and respectfulenvironment for our people, customers, partners and communities in which we operate.
Our HSE Management System is an enterprise-wide framework that drives continuous

improvement in our performance and legal compliance across our operations globally.
It includes more than 50 global operational control procedures that detail minimum

requirements for managing HSE risk in our operations, which apply to all our employees,

sites and operations globally, including contractors and third parties working on behalf ofBaker Hughes. These policies and procedures conform to recognized ISO requirements.

Occupational safety
We strive to operate safely and responsibly to take care of our people, customers, partners,
community and the environment.

Our commitment to HSE starts at the highest levels of our Company and is embedded

throughout all layers of the organization. To support our safety culture, our teams are required
to complete recurring training. We offer 230 unique HSE courses including foundational
training required for all employees, workplace and job specific training and humanperformance leadership training for managers.

We strive for everyday to be a Perfect HSE Day, one without serious injuries, accidents, or harmto the environment. We encourage and empower all employees to take an active role in“owning” HSE by stopping work when conditions are unsafe and reporting observations, nearmisses and stop-work events through open reporting channels. As part of our sustainability
strategy and our objective to uphold high HSE standards, we have two objectives for HSE: tostrive for our Total Recordable Incident Rate (TRIR) to be less than 0.30 and to have 365 perfect
HSE days. In 2023, our year-end TRIR was 0.28 along with 199 perfect HSE days.

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People• Average hours of HSE
training for employees
increased by 17.0% YOY(5.3 to 6.2)
• Number of leadershipengagements increased by
9.5% YOY (64,550 to 70,667)• Number of sites certified
to ISO 45001:2018
increased by four YOY(61 to 65)
Three of our HSE safety
metrics did vary modestly YOY
due to increased operational
activity for our customers.
• TRIR increased slightly to
0.28 (from 0.22); however,this is still below our strategic
threshold of less than 0.30
• Number of perfect HSE
days decreased by 18 YOY(217 to 199)
• Total Recordable Illnesses
increased by 11 YOY (5 to 16)

PlanetPrinciples

AppendicesOur approach to health and safety
HSE principles are embedded in everything we do and how we work — from protecting

the safety of our teams, operations and the environment, to maintaining compliance withexternal parties, customers and regulatory requirements.

Protecting air quality

Our commitment to HSE starts at the highest levels of our Company and is embedded

We are committed to managing our

Excellence is responsible for our HSE systems and standards. Everyone at Baker Hughes

air emissions aligned to industry bestpractices and regulatory standards.
Through robust environmental

practices, we aim to minimize routine

air emissions and prevent emergency

releases. We identify, assess, mitigate
and control potential sources of

air emissions from processes andoperations, including both stationary

and mobile sources. Where needed, we
install emission-control devices, suchthroughout all layers of the organization. Our Senior Vice President of Enterprise Operations
plays a role in driving our culture to promote a safe, clean and productive environment
to protect our team, deliver for our customers and minimize our environmental impact.

Continuous learning, strong leadership and ongoing dialogue are essential to this process
and our leaders play a critical role. Leadership engagements are one way we do this.

These required monthly sessions aim to drive accountability while providing a consistentformat for leaders to engage with their teams and track progress to make improvements
over time. In 2023, we increased overall engagements by 9.5% over 2022.

In 2023, we implemented additional measures for leaders including providing targeted
messaging for engagements and reference materials. Expectations were reiterated toas scrubbers, dust collection systems

Company leadership on compliance for leadership engagements. Monthly scorecards

and meet regulatory requirements.

an expansion of our tool to enable a wider selection of engagement categories andand paint booths to protect air quality
Across our business, employees

have worked to minimize the useof chemicals that may pose a

tracking progress throughout the year were also established. In addition, we implemented
introduced a mobile application to efficiently record engagements in real-time while at a
job site or facility.

All employees and contractors have a responsibility and are empowered to actively own

threat to the environment. Our

environmental procedures prohibit

the use of chlorinated hydrocarbonbased solvents or ozone-depletingchemicals. We undertake an annualcomprehensive survey across ouroperations to help us avoid the use ofozone-depleting substances. Our 2023

survey results did not identify any use of
these materials, excluding refrigerants
used in air conditioning systems.

HSE to ensure the health and safety of everyone around them. In 2023, we logged 1,442,048
HSE observations, a 34.5% increase in observations from the prior year.

We use a risk-based approach to determine hazards that could lead to adverse HSE
impacts, or cause processes to deviate from planned results. The risk management

process includes hazard identification, risk analysis and risk mitigation. The hazards

determined to cause or contribute to cases of ill health during the reporting period areassociated with exposure to extreme environmental temperatures and repetitive motion

work activities. Governance has been updated to include a work/rest schedule for extreme
heat environments and educational communications have been developed to alert theorganization of the hazard and potential risk control options. The occurrence of repetitive
motion musculoskeletal disorders is not common for our work, however and efforts areunderway to improve occupational ergonomics for our teams.

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AppendicesOur HSE Management System
Our HSE Management System is an enterprise-wide framework that drives continuous
improvement in performance and compliance across our operations.

Independent reviews are

We take a multi-tiered approach that enables leadership at various levels to create

localized and relevant procedures. This approach allows for more detailed task-level

conducted through thecustomer requirements. All employees, including directly supervised contractors, aremulti-site certification

standards and compliance with applicable obligations, including regulatory andcovered by the HSE Management System.

process and third-party

The management system is formally reviewed annually to identify any changes orverification.

improvements from relevant stakeholder groups, such as regulators, industry, public andbusiness operations. Identified improvements are adopted and revisions are publishedand communicated to the organization. Employees are encouraged to provide feedback
and request revisions or clarification at any time. If changes are made to documents, wefollow a revision publication process and communicate the changes to employees.

Our HSE Management System and respective policies and procedures are certified by
the recognized ISO certifications, ISO 14001:2015, Environmental Management Systems

and ISO 45001:2018 Occupational Health and Safety. Depending on the business needs,
for key operations, we hold individual or multi-site certifications to these standards.16

87

Sites certified to ISO

14001, the international

standard for Environmental

65

Sites certified to ISO

9001, the international
standard for Quality

the international standard

for Occupational Health and

Safety Management Systems.

Management Systems.

238

Sites certified to ISO 45001,

1

Sites certified to the

ISO 50001 standard, theinternational standard

for Energy Management

Management System.

Systems in support of ourenergy-efficiency goals.

16

Michael Barry, Lead Chemical Engineer, OFSE

Business needs may include a customer’s’ contractual requirements.

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AppendicesTraining to foster a safety culture
We have an obligation to pursue all employees are trained and understand our HSE

fundamentals. We have a comprehensive HSE training curriculum designed for the complex
nature of our operational risk profile, enabling employees to gain technical awareness onrisks and to recognize hazards. Training needs are assessed through evaluation of relevant
regulations, applicable laws and risks associated with the employee’s job duties. Training

Employees, contractors, or those

directly involved with our activities
are expected to stop work when

topics include fatigue management awareness, stop work awareness, emergency andconditions are unsafe and reportdisaster preparedness and slips, trips and falls. These trainings are deployed using ouronline learning system and in-person trainings are provided when required. Trainings areprovided free of charge during paid working hours.

All employees are assigned required HSE training, while contractors are assigned trainings

based on need identified locally, with two training activities recommended to all contingent
workers. Effectiveness of training is evaluated through analysis of incident trends, audit

observations, near misses and stopwork events to management. If an

individual exercises their “stop work

authority,” activities must be stopped
immediately and may resume once

the issue is addressed. When incidents
do occur, they are tracked in our data

results and employee feedback. In 2023, we offered 230 HSE courses and employees

management system, investigations

year completing HSE training and contractors spent approximately 0.9 hours.

reviews are performed and corrective

Taking preventative measures

implemented. In addition, learnings

completed 641,248 HSE trainings. On average, employees spent approximately 6.2 hours per

are conducted, formal incident

actions to prevent recurrence areare disseminated to targeted

In addition to training, we integrate policies, programs and initiatives to protect employees
from health and safety risks and hazards, while promoting the overall well-being of

employee populations with similar

operational risks following an incident.
We are saddened to report the loss of

our employees. By strengthening our focus on learning and improvement, we aim tominimize human error, mitigate incidents and continuously improve our HSE performance.
Throughout the year, we continued our emphasis on proactive prevention measures,

one of our employees who was fatally
injured while conducting manual
handling activities in the United

human performance and leadership engagements to discuss risk.

States. Following this tragedy, we

conducted a thorough investigation.

Local leadership periodically reviews and assesses related data trends, communicates

feedback to employees and reviews and updates operational procedures as needed. We

set clear targets and regularly track and assess our progress through annual management
reviews, site self-assessments completed based on site risk criteria, internal audits

conducted by trained employee auditors and third-party verifications from customers andthe ISO registrar.

Our risk assessment process is in place to identify, understand and mitigate impacts throughLearnings and corrective actions wereshared across the Company to ensure
similar risks are addressed to prevent

reoccurrence including technical andsafety training, technical bulletins,

vendor audits and updated standard
operating procedures.

proactive and preventative programs and control measures. Risks are assessed from the siteor project level and include risks from transportation, material handling activities, remote/offshore operations and other higher-risk activities related to pressure, lifting and rigging,electrical and process safety.

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AppendicesAiming for zero process
safety events
Our ambition to achieve zero process
safety events drives our strategy andapproach, which is centered around

Process Safety Management

the following principles:

Our Process Safety Management program is aligned to industry standards and bestpractices aimed at preventing or mitigating events that can cause catastrophic safety or

environmental consequences. The program includes training, global and business-specificprocedures, risk assessments, barrier management checklists, process safety operations
fundamentals, management of change, audits and threat response.

01

Process safety hazards and risks areunderstood across the Company.

02

Process safety projects are ongoing within some of our operations. Process safety audits
are conducted globally for performance assurance, including execution of a targeted
audit strategy covering specific operational business units. The audits help ensure

Process safety is intrinsic to productadoption and sustainable performance of process safety risk management across theand service delivery.

enterprise. Learnings from incidents are used to focus on reliable execution of safety-

critical tasks as a key to reducing risk as low as reasonably practicable. The Process Safety
Operations Fundamentals were designed as a human-factors tool to educate, reinforce
and continually remind the workforce of their importance.

Process safety events include barrier impacts and loss of primary containment events andare included in our leading and lagging performance indicators. The emphasis on leading
indicators enables us to extract actionable insights from data without the impacts of highconsequence events.

In addition to project-based collaboration, engagement with customers, industry and

03Sound risk mitigation is applied throughoperational and asset integrity.

04

Process safety is sustained throughregulatory agencies occur continually to advance process safety performance throughcontinual learning and improvement.

learnings and best practice sharing. Other contributions to industry include technicalpublications or presentations, leading sessions in forums and conferences and projects
with committees and workgroups.

Giovanna Tomaselli, Shop Operator, IET

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AppendicesSupporting workers’ health
At Baker Hughes, we believe that nothing is more important than the health, safety andwell-being of our people. We believe that when we prioritize our physical and mental wellbeing, it empowers all of us to be our best at work and at home.

Our well-being strategy, Living Well, provides all employees and their families a wide

variety of resources, benefits and learning opportunities designed to drive an inclusive

culture and facilitate ownership of health and well-being. Throughout the year, we hosted

events with health and wellness experts, helping to further embed wellness into leadershipengagements and provided health and wellness resources and tools to all employees.

Spotlight on progress:
Living Well and Headspace
Business Need: We need to ensure our employees have mental health and well-being
resources to keep them healthy and happy.

Impact: The Living Well program, aligned with our value of care, focuses on mental well-being. We believe that prioritizing our physical and mental well-being empowers us to be
our best at work and at home. We understand that managing well-being is a personal

process, so we aim to connect our employees with the resources they need, when theyneed them.

While there is no consensus around a single definition of well-being, the generalagreement is that at minimum, well-being includes the presence of positive emotions
and moods with the absence of negative emotions, satisfaction with life, fulfillment

and positive functioning. To support our well-being, Baker Hughes offers employees
free access to a limited number of premium subscriptions for Headspace, a well-being app, which is available in many languages for our workforce across the globe.
Headspace provides access to content on stress management, sleep, focus, music,

guided meditation, “wake up” videos and short workouts. It also has child-friendly content
available to the children of our employees. A workforce with a strong well-being provides
more stability for our Company and our customers.

In addition to physical and mental health, we host dialogues across the Company on how

safety, security, purpose and connections at work and in the community support our overall

well-being. We understand that managing one’s well-being is a unique and personal process
and we strive to connect employees with the resources they need, when they need them.
We work with our health benefit providers and internal teams to offer employees healthand wellness programs, telemedicine access, health screenings, immunizations, fitness
reimbursements and virtual wellness tools. Our employee assistance program gives“Health and safety is not justabout the physical well-beingof our workforce; we also strive
to improve total well-being
and reduce the potential
for psychosocial risks andembed human performance
principles in how we work.
Our culture is comprised ofmany layers including robust
training, regular engagementswith leadership, open andtransparent reporting andgovernance. We embrace
a learning mindset to drive
continuous improvement.”— Bridget Todd, Enterprise HSE Leader

employees and their family members direct access to professional coaches for in-the-moment counseling or referrals to community experts and extended care providers to help
navigate daily life, manage remote work and cope with major life events.

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AppendicesGlobal occupational health
Baker Hughes continued to invest in the occupational health risk identification of our workers
in 2023. Our medical staff have created two programs, FRAME and Malaria Prevention

Program, which are designed to reduce risk by keeping our employees healthy and able
to deliver our services and products for our customers.

FRAME Program(Fit for Remote Assignment Medical Exam)
The FRAME program provides a global standard process for employees who are assigned

FRAME has many benefits:

clearance requirement to undergo a comprehensive medical exam to determine their•

to work offshore, at onshore remote locations, or at customer sites that have a medical

readiness to work in a remote environment. The program is administered by third-party

Our field employees are ready forremote assignment mobilization
versus “having a certificate.”

administrators who ensure quality medical providers are used, a standardized medical

protocol is followed, results assessment is consistent with industry standards and medical
data privacy is maintained.

•

Field employees are fit for remoteassignment, helping to reduce

possible interruptions to our services.

Malaria Prevention Program
The Malaria Prevention Program establishes requirements for a malaria control plan (MCP) to•

protect personal health. The program focuses on educating and preparing employees who

mobilization interruptions.

are traveling to malaria-risk areas and outlines prevention measures that should be taken by
Baker Hughes worksites located in malaria-risk areas.

•

Travelers are provided ABCD education (Awareness, Bite Prevention, Chemoprophylaxis andin remote assignment locations.

how to obtain preventive medication and supplies, personal behaviors to avoid mosquito•

Worksites are required to have controls in place to prevent breeding grounds for mosquitoes.

Health, safety and medical teams canfocus on leading indicators, detecting
and mitigating health risks to workers

early Diagnosis) through the travel booking process. In addition, travelers are informed about
bites and how/when to seek medical attention.

Mobilization teams have control

to schedule in advance and avoid

Prevention efforts help to reduce risk

and cost of health events.

Site-based Malaria Control Officers assist with providing training to local employees,

distributing prevention supplies to incoming employees and visitors and supporting theinvestigation of confirmed malaria cases.

We require customer-controlled facilities to have a Malaria Control Officer in place. Where
possible, the customer should implement or support the Baker Hughes Malaria Prevention
Program per the terms of the Baker Hughes and customer master contract.

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AppendicesGlobal Disability Accommodation
Within our Global Occupational Health, medical staff have done initial work to develop policy
and procedure guidance that will ensure all employees with disabilities have access to aninteractive process to discuss options for reasonable accommodations in the workplace.

Our employee well-being is linked to how we address matters of privacy, compliance anddiscrimination.

The team has been working this year to assess activities globally and to collaborate withprofessionals across the business to develop the necessary information and documents forpeople leaders, employees and candidates with regards to disability accommodation. Our

discussions factor in confidentiality, worker safety, business needs and essential job functions.
Our United States Accommodation policy is based on the Americans with Disabilities Act.

This new policy will enhance guidance for existing processes related to reproductive health,transitional work and travel. These documents ensure equity, consistency and resources for
all who are in need.

Plans for the coming year include finalizing policy and procedure documents andcommunicating them to relevant leaders and employees. Future plans for the team include
development of education, training and advocacy for the hiring and retention of people
with disabilities.

Employee health and privacy
We emphasize the protection of personal information, including personal health data. We

do not routinely house or capture personal health-related information unless required, suchas vaccination status or medical accommodations. In situations where we collect personal

health information, we follow strict access control and confidentiality policies including, but
not limited to, our Personnel Privacy Notice and our Data Privacy Policy. All personal healthinformation on workers is maintained through our independent and highly vetted third-

party vendors that administer our benefit programs. Should any personal health-related
information be collected, we have strict access control measures limiting visibility andmanagement of data to only those required for the business process.

Juliana Magalhaes, Amauro Arsenio,
Field Service Engineers, IET

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AppendicesSecurity
We are committed to protecting our people, workplaces and operations and respecting

communities globally through proactive risk-based, intelligence-led, data-driven security
programs and mitigation measures. Our security team supports business segments,
functions and regions, in accordance with global risk and operational structure. The
security team oversees the administration, governance and implementation of thecrisis management and business continuity programs through global standards andprocesses, training, exercises and ongoing engagement.

At the center of our security operations is the Global Intelligence and Travel Security

Operations Center focused on monitoring global developments, issuing timely updates,
administering the travel security program for high-risk locations and operating the

emergency notification system for critical communications and operational impact.
Other priorities include monitoring global developments while educating and equipping

employees to recognize, report and prevent an array of potential risks at our workplaces,
while traveling or across our operations. Workplace violence, natural disasters, terrorism

and broader socioeconomic or geopolitical risks are some of the potential risks monitored
and managed.

Spotlight on progress
Indoor Drone Technology
Business Need: The Enterprise Security team seeks to align with Baker Hughes’ sustainability
goals by utilizing innovative, cost-effective solutions that decrease carbon emissions while
improving efficiencies.

Impact: One area currently being assessed and trialed is the use of indoor drone technology
inside some of our sites. Drone technology, which harnesses the power of robotics pairedwith artificial intelligence, will be utilized for intelligent monitoring of smart buildings whileproviding near real-time insight into security and emergency situations for improved
management, control, accurate intelligence gathering, comprehensive situationalawareness and more informed decision making. Subject to the trial’s success, we intend
to deploy additional drone technology to some of our mission-critical and higher-risk
locations to protect our people.

Security personnel focus on human rights
As a signatory to the UN Global Compact, we align with the principles outlined in the

Voluntary Principles on Security and Human Rights. In 2021, internal training and awarenessresources were developed by our security team with the purpose of embedding theseprinciples into our operations. Enterprise security personnel and embedded security

contractors are required to complete annual training on human rights and adhere to
our supplier integrity guide, which includes guidelines on human rights.

Aligned with our strategic objective, 100% of our enterprise security personnel, including
full-time security personnel and embedded contractors, received training on humanrights in 2023. We also incorporate principles on security and human rights into requests

for proposals and tenders, to ensure all security suppliers and contractors understand andadhere to our commitments to ethical business conduct.

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By the Numbers

Sustainability
121

PeoplePlanetPrinciples

AppendicesAppendicesContents

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Who we are

By the Numbers

Sustainability
122

PeoplePlanetPrinciples

AppendicesAppendicesAs an energy technology leader, we model leadership through excellence in sustainability

Additionally, certain People andfollowing best practices for sustainability reporting. Despite the dynamic development ofassurance by KPMG as discussed

performance. We strive to improve how we track, measure and report our sustainability data,

Planet metrics are subject toguidance and standards for corporate sustainability reporting, we aim to report reliable,in their report in Appendix B.

verified investment-grade data. We are also committed to providing transparency on thequality of our data. The information contained in this report is governed by clearly definedprocesses and controls. Upon final review and approval of each Key Performance Indicator(KPI) and metric by process owners, the report is drafted by our Sustainability Strategy and

Performance team. The report and the data it includes are then reviewed by our internal audit
team. Our internal audit function follows rigorous monitoring processes mirroring financial
data governance and internal auditing standards to increase the fidelity of our reporting.

Appendix A – Standard Alignment Tables
Our sustainability report• Global Reporting Initiative (GRI)aligned to the following• Sustainable Accounting Standards Board (SASB) Oil & Gas Services

contains metrics that arerecognized frameworks:

Industry Standard - Extractives & Minerals Processing Sector• Task Force on Climate-Related Financial Disclosures (TCFD)

Appendix B – Statements and Notes with Independent
Accountants’ Report
An Independent Accountants’ Report precedes the related People and Planet reporting.
People:• Statement and Notes on People Metrics

Planet:• Statement and Notes on Greenhouse Gas (GHG) CO2e Emissions• Statement and Notes on Waste

Appendix C – Stakeholder Engagement

Emmanuel Haastrup, Technician Mechanic, OFSE

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PeoplePlanetPrinciples

AppendicesAppendix A: Standard
Alignment Tables
Interpreting this section
The information in the indices below show how we report in accordance with, or in someinstances based on, the frameworks that apply to our industry and accepted sustainability

standards. The tables below lists indicators from GRI, SASB and TCFD on which we have fullyor partially reported. The information is based on the best available data at the time of

publication and is subject to change. In some cases, data is estimated and is based solely
on our interpretation and judgment.

Angelo Donato, Senior Engineer, IET

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Appendices

GRI Index*Denotes alignment with GRI 11: Oil and Gas Sector Standard 2021
GRI Index

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

General disclosure

2-1

Organizational details

Baker Hughes Company: 575 N. Dairy Ashford Rd., Suite 100 Houston,2-2

Entities included in the organization’s

Form 10-K

2-3

Reporting period, frequency and contact

From January 1, 2023 through December 31, 2023; Annual reporting:

2-4

Restatements of information

Baseline emissions (GRI 305-1d, 305-2d, 305-3e)

2-5External assurance

Independent Accountants’ Report, pp. 137-139

2-6

Activities, value chain and other businessa: Who we are, pp. 7-12

Texas USA Form 10-K

sustainability reporting

point

relationships

May 15, 2024 SustainabilityTeam@bakerhughes.com

b: Information unavailable
d: We drive innovation and technology advancement, pp. 24-26

2-7

Employeesa and b (iv:v): People, pp. 29-61, People Performance Index, pp. 168-179
b: Information unavailablec Statement and Notes on People Metrics, pp. 140-147
d:e Our People, p. 32

2-8

Workers who are not employees

a: Our People, p. 32
b:c Information unavailable

2-9

Governance structure and composition

2024 Proxy Statement

2-10

Nomination and selection of the highest

2024 Proxy Statement

2-11

Chair of the highest governance body2024 Proxy Statement

2-12

Role of the highest governance body in

Ensuring sustainable governance, pp. 99-102

2-13

Delegation of responsibility for managing

Ensuring sustainable governance, pp. 99-102

2-14

Role of the highest governance body inGovernance of sustainability, p. 101

2-15

Conflicts of interest

Finance Committee Charter

governance bodyoverseeing the management of impacts

impactssustainability reporting

2024 Proxy Statement
2-16

Communication of critical concerns

Open reporting and consultation, p. 108
b: Data not available due to confidentiality constraints

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Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

General disclosure

2-17Collective knowledge of the highest

Our Board of Directors consists of corporate leaders with expertise incontinued

governance body

substantive areas that guide our corporate strategy and objectives,
including our Environmental, Social and Governance (ESG) strategy.

In furtherance of its responsibility to oversee the Company’s position
on corporate social responsibility and public issues of significancewhich which affect investors and other key stakeholders, theGovernance & Corporate Responsibility Committee reviews thecomposition of the Board on an annual basis in order to ensure thatthe collective knowledge, skills and experience of the Board aligns

with the Company’s sustainability goals. In addition, the Committee
recommends director candidates for annual election, evaluates

the composition of the Board annually and identifies desired skills,
experience and capabilities. The Committee strives to maintain a

Board with varied expertise and perspective and one that reflects

diversity, including but not limited to gender, ethnicity, backgroundand experience.
2-18

Evaluation of the performance of thehighest governance body

Our Board of Directors is committed to overseeing the integrationof ESG principles throughout the organization. The Board receives
updates around our sustainability strategy and long-term ESG

objectives on a periodic basis. While our full Board is tasked with

ESG oversight, some of its committees have responsibility for certain
aspects of the ESG strategy. The Human Capital and Compensation
Committee reviews human capital management metrics. The

Governance and Corporate Responsibility Committee oversees theCompany’s positions on corporate social responsibility and has been
charged by the Board with oversight responsibility of the Company’senvironmental matters as well as assessing its sustainability

strategy and initiatives, including the publication of our Corporate
Sustainability report. In addition, the Governance & Corporate

Responsibility Committee receives regular reports from managementon the Company’s environmental and sustainability priorities andrisks, including progress on our net-zero emission goals and execution,
our ESG reporting frameworks and ESG ratings. The Audit Committeemonitors compliance, human rights concerns and ethics risks.

As reflected in our Governance Principles, the Board performs anannual self-evaluation led by the lead independent director. As

a component of the annual evaluation, each director is asked toprovide an assessment around the effectiveness of the Board andits committees. The Board utilizes the results of its annual self-

evaluation to identify areas of improvement and strengthen corporate
governance practices. The Governance and Corporate Responsibility
Committee monitors the process to assess the effectiveness of

the Board. On a periodic basis, the lead independent director has

engaged independent governance experts to facilitate the evaluation
process and to identify areas.

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Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

General disclosure

2-19

Remuneration policies

a:b The Human Capital and Compensation Committee

continued

reviews the executive and director compensationeach year to ensure that compensation aligns with theCompany’s long term strategies.

Our compensation policies around executive

compensation reinforce market-aligned and pay for
performance compensation programs. The Human

Capital and Compensation Committee has responsibility
for reviewing the relationship between our risk

management policies and practices, corporate strategy

and senior executive compensation and assessing
whether any such risk is reasonably likely to have amaterial adverse effect on the Company.

Additional details on our Board of Directors

compensation and our executive compensation policies

and programs, including the process for determining
remuneration, can be found in the Compensation,
Discussion and Analysis section of our 2024 Proxy

Statement as filed with the Securities and Exchange

Commission.
2-20

Process to determine remuneration

2024 Proxy Statement

2-21

Annual total compensation ratio

2024 Proxy Statement

2-22

Statement on sustainable development strategy

A letter from our Chief Executive Officer, p. 5

2-23

Policy commitments

Championing ethics and compliance, pp. 105-112

2-24

Embedding policy commitments

Championing ethics and compliance, pp. 105-112

2-25

Processes to remediate negative impacts

Championing ethics and compliance, pp. 105-112

2-26

Mechanisms for seeking advice and raising concerns

Open reporting and consultation, p. 108

2-27

Compliance with laws and regulations

Material legal actions, if any, are reported in our

2-28

Membership associations

Stakeholder engagement, pp. 164-165

2-29

Approach to stakeholder engagement

Stakeholder engagement, pp. 164-165

2-30

Collective bargaining agreements

Principles performance index, pp. 185-186

Form 10-K

b: Data not available due to confidentiality constraints

Material topics

Economic

performance

3-1*

Process to determine material topics

Materiality assessment, p. 21

3-2*

List of material topics

Materiality assessment, p. 21

3-3*Management of material topics

People, pp. 29-61; Planet, pp. 62-96; Principles, pp. 97-121

201-1*

Direct economic value generated and distributed

Our economic impact, p. 11
Tax by country and economic value generated are notreported due to confidentiality constraints.

201-2*

201-4*

Contents

Letters

Sustainability Report 2023

Financial implications and other risks andClimate change as a financial risk and opportunity, pp.

opportunities due to climate change

94-96

Financial assistance received from government

Information unavailable

Who we are

By the Numbers

Sustainability
127

PeoplePlanetPrinciples

Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

Market presence

202-2*

Proportion of senior management hired from the local

Information unavailable

Indirect economic

203-1*

Infrastructure investments and services supported

Information unavailable

203-2*

Significant indirect economic impacts

Information unavailable

204-1*

Proportion of spending on local suppliersa: Principles performance index, pp. 185-186

impactProcurement
practices

community

b: “Local” is defined as being purchased in the same
country as the location of the order issuances.

c: Our significant operations are those where we conduct
manufacturing, assembly, maintenance and service
operations.

Anti-corruption

205-1*

Operations assessed for risks related to corruption

a: Principles performance index, pp. 185-186
All business segments assessed.
Anti-bribery and anti-corruption, p. 108

205-2*

Communication and training about anti-corruption
policies and proceduresa,b,d,e: Principles performance index, pp. 185-186
Data not provided by region or employee category; data
regarding business partners (205-2c) unavailable.

205-3*

Confirmed incidents of corruption and actions taken

Data not available due to confidentiality constraints

Anti-competitive

206-1*

Legal actions for anti-competitive behavior, anti-trust

Form 10-K

Tax

207-1*

Approach to tax

Tax, pp. 103-104

207-2*Tax governance, control and risk management

Tax, pp. 103-104

207-3*

Stakeholder engagement and management ofTax, pp. 103-104

207-4*Country-by-country reporting

Information unavailable

302-1*

Energy consumption within the organization

Transitioning to Renewables, pp. 72-73

behavior

Energyand monopoly practices

concerns related to tax

Planet performance index, pp. 180-184
Statement and Notes on Greenhouse Gas CO2e Emissions,pp. 148-159

c: Information unavailable
302-2*

Energy consumption outside the organization

Information unavailable

302-3*

Energy intensity

Planet performance index, pp. 180-184
b:d Information unavailable

302-4

Reduction of energy consumption

a:b Pioneering low carbon energy solutions to deliver
value for our customers, pp. 64-73

c:d: Statement and Notes on Greenhouse Gas CO2e

Emissions, pp. 148-159

Water and effluents

303-1*

Interactions with water as a shared resource

Water stewardship, pp. 89-90

303-2*

Management of water discharge-related impacts

Water stewardship, pp. 89-90

303-3*

Water withdrawal

Planet performance index, pp. 180-184
Water stewardship, pp. 89-90

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Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

Water and effluents

303-4*

Water discharge

Planet performance index, pp. 180-184

continued

Water stewardship, pp. 89-90
303-5*

Water consumption

Planet performance index, pp. 180-184
Water stewardship, pp. 89-90

Biodiversity

304-1*

Operational sites owned, leased, managed in or
adjacent to protected areas and areas of highInformation unavailable

biodiversity value outside protected areas
304-2*

Significant impacts of activities, products and services

Information unavailable

304-3*

Habitats protected or restored

a: Information unavailable

on biodiversity

b: Protecting biodiversity and natural capital, pp. 91-92
c:d Information unavailable

Emissions304-4*IUCN Red List species and national conservation list

Planet performance index, pp. 180-184

305-1*

Direct (scope 1) GHG emissions

Emissions are reported in accordance with thespecies with habitats in areas affected by operations

Greenhouse Gas Protocol. Refer to the Statement andNotes on Greenhouse Gas CO2e Emissions, pp. 148-159.
305-2*

Energy indirect (scope 2) GHG emissions

Emissions are reported in accordance with theGreenhouse Gas Protocol. Refer to the Statement andNotes on Greenhouse Gas CO2e Emissions, pp. 148-159.
305-3*

Other indirect (scope 3) GHG emissions

Emissions are reported in accordance with theGreenhouse Gas Protocol. Refer to the Statement andNotes on Greenhouse Gas CO2e Emissions, pp. 148-159.
305-4*

GHG emissions intensity

Emissions are reported in accordance with theGreenhouse Gas Protocol. Refer to the Statement andNotes on Greenhouse Gas CO2e Emissions, pp. 148-159.
a:b Information unavailable
305-5*

Reduction of GHG emissions

Pioneering low carbon energy solutions to deliver value
for our customers, pp. 64-73

Emissions are reported in accordance with theGreenhouse Gas Protocol.

Planet performance index, pp. 180-184
Refer to the Statement and Notes on Greenhouse Gas
CO2e Emissions, pp. 148-159.
305-6*

Emissions of ozone-depleting substances

Planet performance index, pp. 180-184

Nitrogen oxides (NOx), sulfur oxides (SOx) and other

Information unavailable

306-1*

Waste generation and significant waste-related

Managing waste, pp. 81-85

306-2*

Management of significant waste-related impacts

Managing waste, pp. 81-85

305-7*

Waste (2020)

significant air emissions

impacts

Statement and Notes on Waste, pp. 160-163

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PeoplePlanetPrinciples

Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

Waste (2020)306-3*

Waste generated

Managing waste, pp. 81-85

continued

Statement and Notes on Waste, pp. 160-163
Planet performance index, pp. 180-184
306-4*

Waste diverted from disposal

Managing waste, pp. 81-85
Statement and Notes on Waste, pp. 160-163
Planet performance index, pp. 180-184

306-5*

Waste directed to disposal

Managing waste, pp. 81-85
Statement and Notes on Waste, pp. 160-163
Planet performance index, pp. 180-184

Effluents and waste(2016)

306-3*

Significant spills

Transparently reducing spills, pp. 86-88
Planet performance index, pp. 180-184

Supplier

Environmental
Assessment

308-1

New suppliers that were screened using

Information unavailable

308-2

Negative environmental impacts in the supply chain

c: Buffering sustainability risks through our Enterprise Risk

environmental criteria

and actions taken

Management process, p. 102

a,b,d,e: Information unavailable

Employment

401-1*New employee hires and employee turnovera Total number included in People performance index, pp.
169-172; rate information unavailable

b People performance index, pp. 168-179
401-2*

Benefits provided to full-time employees that are notprovided to temporary or part-time employees

a Delivering total rewards for employees, pp. 43-45
b Our significant operations are those where we conduct
manufacturing, assembly, maintenance and service
operations.

401-3*

Parental leave

a:c People performance index, pp. 168-179
d:e Information unavailable

Labor/Management
relations402-1*

Minimum notice periods regarding operationalchanges

a: We comply with local laws and collective bargaining
agreements pertaining to operational changes. Notice

periods vary by geography but are generally at least one
month.

b: Information unavailable

Occupational

health and safety403-1*

Occupational health and safety management system

Our HSE Management System, pp. 115-120
Process Safety Management, p. 117

403-2*

Hazard identification, risk assessment and incident

Upholding the highest HSE standards, pp. 113-121

403-3*

Occupational health services

Our HSE Management System, pp. 115-120

investigation

Process Safety Management, p. 117
403-4*

403-5*

Worker participation, consultation andcommunication on occupational health and safety
Worker training on occupational health and safety

Our HSE Management System, pp. 115-120
Process Safety Management, p. 117
Training to foster a safety culture, p. 116
Taking preventative measures, p. 116

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GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

Occupational

403-6*

Promotion of worker healthSupporting workers’ health, pp. 118-120

403-7*

Prevention and mitigation of occupational health

Our HSE Management System, pp. 115-120

health and safetycontinued

and safety impacts directly linked by business
relationships

Training to foster a safety culture, p 116
Process Safety Management, p. 117

403-8*

Workers covered by an occupational health andOur HSE management system, pp. 115-120

403-9*

Work-related injuries

Principles performance index, pp. 185-186

safety management system

Process Safety Management, p. 117
Formula for calculating Total Recordable Incident Rate:
number of recordable cases, multiplied by 200,000,

divided by number of hours worked. Total hours worked

is calculated using factors based on job family data foreach employee, such as length of shift and overtime
typical of job families.

Some data and non-employee information areunavailable due to confidentiality constraints and data
limitations.
403-10*Work-related ill healthPrinciples performance index, pp. 185-186
Our approach to health and safety, p. 114

Training andeducation

Diversity and equal
opportunity

404-1*

Average hours of training per year per employee

a: People performance index, pp. 168-179

404-2*

Programs for upgrading employee skills and transition

a:b A commitment to help our people thrive, pp. 38-42

404-3

Percentage of employees receiving regulara: People performance index, pp. 168-179

405-1*

Diversity of governance bodies and employees

a: 2024 Proxy Statement

assistance programs

performance and career development reviews

b: People performance index, pp. 168-179
405-2*

Ratio of basic salary and remuneration of women to

Information not available due to confidentiality

Non-discrimination

406-1*

Incidents of discrimination and corrective actions

Information not available due to confidentiality

Freedom of

407-1*

Operations and suppliers in which the right to freedom

Information unavailable

association

men

taken

of association and collective bargaining may be atconstraints

constraints

risk

and collective
bargaining
Child labor408-1*

Operations and suppliers at significant risk forincidents of child labor

a:b: Information unavailable
c: Human rights, pp. 109-110, Strive for principled, diverse
and inclusive supply chains, p. 106

Forced orcompulsory labor409-1*

Operations and suppliers at significant risk forincidents of forced or compulsory labor

a: Information unavailable
b: Human rights, pp. 109-110, Strive for principled, diverse
and inclusive supply chains, p. 106

Security practices

Contents

Letters

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410-1*

Security personnel trained in human rights policies orprocedures

Who we are

By the Numbers

Principles performance index, pp. 185-186
Security, p. 121

Sustainability
131

PeoplePlanetPrinciples

Appendices

GRI Index continued

GRI Topic Standard

Disclosure No.

Disclosure title

Location and data

Rights of indigenous

411-1*

Incidents of violations involving rights of indigenous

Information unavailable

Local communities

413-1*

Operations with local community engagement,

Information unavailable

413-2*

Operations with significant actual and potential

Form 10-K

414-1*New suppliers that were screened using social criteria

Information unavailable

414-2*

Negative social impacts in the supply chain andPrinciples performance index, pp. 185-186

peoples

Supplier social
assessment

peoples

impact assessments and development programs

negative impacts on local communities

actions taken

c:e Information unavailable

Public policy

415-1*

Political contributions

2023 Political Contributions Report

Customer Health416-1*

Assessment of the health and safety impacts ofInformation unavailable

Customer privacy

418-1

Substantiated complaints concerning breaches ofData privacy and cybersecurity, p. 111

and Safety

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product and service categories

customer privacy and losses of customer data

Who we are

By the Numbers

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PeoplePlanetPrinciples

AppendicesIndex to SASB sector standards
SectorTopic

Accounting metric

Code

Information reference

Oil and Gas services

Emissions Reduction

Total fuel consumed, percentage renewable,

EM-SV-110a.1(1) Total Fuel Consumption: 5,881,343

Management

vehicles and (2) off-road equipment

Services and Fuels

percentage used in: (1) on-road equipment andgigajoules(2) 0%(3-1), (3-2) Data not available
Discussion of strategy or plans to address air
emissions-related risks, opportunities and

EM-SV-110a.2

impacts

Percentage of engines in service that meet

Tier 4 compliance for non-road diesel engine

Pioneering low carbon energy solutions
to deliver value to our customers, pp.
64-73

EM-SV-110a.3

Data not unavailable

EM-SV-140a.1(1) Standard not applicableemissions
Water Management
Services(1) Total volume of fresh water handled inoperations, (2) percentage recycled

Discussion of strategy or plans to address

water consumption and disposal-related risks,(2) Standard not applicable
EM-SV-140a.2

Water stewardship, pp. 89-90

EM-SV-150a.1(1) Data not available

opportunities and impacts
ChemicalsManagement

Volume of hydraulic fracturing fluid used,
percentage hazardous(2)Data not available
EM-SV-140a.2

Managing chemicals, p. 88

Average disturbed acreage per (1) oil and (2)EM-SV-160a.1(1) Standard not applicable (2)Discussion of strategy or plan to address risks

EM-SV-160a.2

Protecting biodiversity and natural

EM-SV-320a.1(1a) 0.28

Discussion of strategy or plans to address
chemical-related risks, opportunities andimpacts
Ecological Impact
Management

gas well siteand opportunities related to ecological impacts
from core activities
Workforce Healthand Safety(1) Total recordable incident rate, (2) fatality rate,(3) near miss frequency rate, (4) total vehicle

Standard not applicable

capital, pp. 91-92(1b), (1c) Data not available

incident rate and (5) average hours of health,(2a) Data not available. Absolute value

safety and emergency response training for (a)full-time employees, (b) contract employeesis 1.

and (c) short-service employees(2b) Data not available. Absolute value
is zero.
(2c) Data not available(3a) Data not available. Absolute value
is 1,051.
(3b), (3c) Data not available(4a) Data not available, absolute valueis 218.

(4b), (4c) Data not available(5a) 6.16 hours(5b) 0.9 hours(5c) Data not available

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AppendicesIndex to SASB sector standards
SectorTopic

Accounting metric

Code

Information reference

Oil and Gas services

Workforce Health

Description of management systems used to

EM-SV-320a.2

Process Safety Management, p. 117

EM-SV-510a.2

Championing ethics and compliance,

EM-SV-530a.1

Climate change as a financial risk andcontinued

and Safety

Description of the management system forTransparency

the value chain

prevention of corruption and bribery throughout

Management of theDiscussion of corporate positions related toEnvironmentthat address environmental and social factors

Legal & Regulatory

Critical Incident Risk
Management

exploration andvalue chain and project lifecycle

Business Ethics
and Payments

Oil and gas

integrate a culture of safety throughout the

Biodiversity Impacts

government regulations and/or policy proposals

identify and mitigate catastrophic and tail-end

EM-SV-540a.1

Process Safety Management, p. 117

EM-EP-160a.2(1) 14 barrels of oil; 1 barrels of fuelrisks(1) Number and aggregate volume ofhydrocarbon spills, (2) volume in Arctic,(2) 0 barrels(3) volume impacting shorelines withproduction

opportunity, pp. 94-96

Stakeholder engagement, pp. 164-165

affecting the industry

Description of management systems used topp. 105-108(3) 0 barrels

Environmentally Sensitive Index rankings 8-10
and (4) volume recovered(4) 10 barrels

Activity metrics
Sector

Accounting metric

Code

Information reference

Oil and Gas services

Number of active rig sites

EM-SV-000.A

Standard not applicable

Number of active well sites

EM-SV-000.B

Standard not applicable

Total amount of drilling performed

EM-SV-000.C

Standard not applicable

Total number of hours worked by all employees

EM-SV-000.D

Data not available

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Appendices

TCFD Index

The following table references Baker Hughes 2023 financial andsustainability disclosures with the TCFD recommendations.

1. Governance
TCFD Recommendations

Disclosure content and references

Describe the board’s oversight of climate-related risks and opportunities.

Ensuring sustainable governance, pp. 99-102
Governance of sustainability, p. 101

Describe management’s role in assessing and managing climate-related

Governance of sustainability, p. 101

risks and opportunities.

2. Strategy
TCFD Recommendations

Disclosure content and references

Describe the climate-related risks and opportunities the organization has

A letter from our Chief Executive Officer, p. 5

identified over the short, medium and long-term.

Climate change as a financial risk and opportunity, pp. 94-96
Form 10-K, Risk Factors, p. 16

Describe the impact of climate-related risks and opportunities on the

A letter from our Chief Executive Officer, p. 5organization’s businesses, strategy and financial planning.

A letter from our Chief Sustainability Officer, p. 6
Sustainability matters to our customers and investors, p. 23
Climate change as a financial risk and opportunity, pp. 94-96

Describe the resilience of the organization’s strategy, taking into

Climate change as a financial risk and opportunity, pp. 94-96

consideration different climate-related scenarios, including a 2°C or lower
scenario.

3. Risk Management
TCFD Recommendations

Disclosure content and references

Describe the organization’s processes for identifying and assessing climate-

Our goal is to achieve net zero for scope 1 and 2 emissions by 2050 and to

related risks.

reduce scope 3 emissions by 2033, p. 64.

Climate change as a financial risk and opportunity, pp. 94-96

Describe the organization’s processes for managing climate-related risks.

Planet, pp. 62-96
Climate change as a financial risk and opportunity, pp. 94-96

Describe how processes for identifying, assessing and managing climate-

related risks are integrated into the organization’s overall risk management.

Buffering sustainability risks through our Enterprise Risk Management
process, p. 102

4. Metrics and Targets
TCFD Recommendations

Disclosure content and references

Disclose the metrics used by the organization to assess climate-related risks

Emissions are reported in accordance with the Greenhouse Gas Protocol.

and opportunities in line with its strategy and risk management process.

Disclose scope 1, scope 2 and, if appropriate, scope 3 GHG emissions and therelated risks.

Emissions are reported in accordance with the Greenhouse Gas Protocol.

Refer to the Statement and Notes on Greenhouse Gas CO2e Emissions, pp.

148-159.

Describe the targets used by the organization to manage climate-related

Our goal is to achieve net zero for scope 1 and 2 emissions by 2050 and to
reduce scope 3 emissions by 2033, p. 64.

risks and opportunities and performance against targets.

Contents

Refer to the Statement and Notes on Greenhouse Gas CO2e Emissions, pp.

148-159.

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PeoplePlanetPrinciples

AppendicesAppendix B: Statements
and Notes with Independent
Accountants’ Report
Interpreting this section
We execute rigorous processes to ensure metrics are transparently and reliably

presented in accordance with the methodologies to which we adhere. In this section, youwill find the independent accountants’ reports providing limited or reasonable assurance
over selected metrics found in this section.

Subject Matter

2023 Assurance Level

People: Statement and Notes on People Metrics

People Metrics

Limited Assurance

Planet: Statement and Notes on Greenhouse Gas

Scope 1 Emissions

Reasonable Assurance

Scope 2 Emissions

Reasonable Assurance

Scope 3 Emissions

Limited assurance

Waste Metrics

Limited assurance

CO2e Emissions

Planet: Statement and Notes on Waste

L to R: Daniele Gasparri, Global Operations
Manager Industrial X-Ray Solutions & Waygate
Materials Leader | Chiara Martini, Industrial
Relations Specialist, IETOperations

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Appendices

KPMG LLP
2200 Wells Fargo Tower
201 Main Street
Fort Worth, TX 76102-3105

Independent Accountants’ Report
To the Board of Directors and Management of Baker Hughes Company:
Report on Baker Hughes Company’s Statements and Notes on People Metrics, Greenhouse Gas CO2e
Emissions, and Waste as of and for the year ended December 31, 2023
Examination opinion and review conclusion
We have performed an assurance engagement on the following information as of and for the year ended
December 31, 2023 within Baker Hughes Company’s (the Company) 2023 Corporate Sustainability Report(the Sustainability Report):

Information subject to assuranceStatement and Notes on People Metrics(People Statement)

Type ofassurance

Page number
The criteria relevant toin thethe information subject to
Sustainability
assurance
ReportReview (limited 140
assurance)

Scope 1 and 2 greenhouse gas emissions and Examination
related notes within the Statement and Notes(reasonable
on Greenhouse Gas CO2e Emissions (GHG
assurance)
Statement)

As described in Note 1 of
the People Statement148

As described in Note 1 of
the GHG Statement

Scope 3 greenhouse gas emissions andrelated notes within the GHG Statement

Review (limited 148
assurance)

As described in Note 1 of
the GHG Statement

Statement and Notes on Waste (Waste
Statement)

Review (limited 160
assurance)

As described in Note 1 of
the Waste Statement

For the purposes of the remainder of our assurance report:•“Examination Information” refers to the information identified above that was subject to reasonableassurance;•“Review Information” refers to the information identified above that was subject to limited assurance;•“Assured Sustainability Information” refers to all information subject to assurance (both reasonableassurance and limited assurance); and•“Applicable Criteria” refers to the criteria relevant to the information subject to assurance as identified
above.

Examination opinion
In our opinion, the Examination Information for the year ended December 31, 2023 is prepared in accordancewith the Applicable Criteria, in all material respects.
Review conclusion
Based on our review, we are not aware of any material modifications that should be made to the Review
Information as of and for the year ended December 31, 2023 in order for it to be prepared in accordance with
the Applicable Criteria.
Our examination opinion and review conclusion on the Assured Sustainability Information does not extend toany other information that accompanies or contains the Assured Sustainability Information and our report.
KPMG LLP, a Delaware limited liability partnership and a member firm of
the KPMG global organization of independent member firms affiliated with
KPMG International Limited, a private English company limited by guarantee.

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PeoplePlanetPrinciples

AppendicesBasis for opinion and conclusion
Our examination was conducted in accordance with attestation standards established by the American Instituteof Certified Public Accountants in AT-C section 105, Concepts Common to All Attestation Engagements and
AT-C section 205, Assertion-Based Examination Engagements. Our review was conducted in accordance withattestation standards established by the American Institute of Certified Public Accountants in AT-C section 105,
Concepts Common to All Attestation Engagements and AT-C section 210, Review Engagements. We are
required to be independent and to meet our other ethical requirements in accordance with relevant ethicalrequirements related to the engagement. We believe that the evidence we have obtained is sufficient andappropriate to provide a reasonable basis for our examination opinion and review conclusion.
Emphasis of Matter
As noted in Note 2 of the GHG Statement, the Company recalculated its 2019 Scope 1, 2, and 3 emissions toaccount for recent structural changes, boundary enhancement, and enhancements in methodology and data, in
accordance with the Applicable Criteria as described in Note 1 of the GHG Statement.
Our opinion and conclusion are not modified in respect of this matter.
Other Matter
We previously reviewed selected metrics within the People Statement related to the years ended December 31,
2022 and December 31, 2021 and our reports dated May 24, 2023 and June 24, 2022 included unmodified
conclusions, respectively.
We previously reviewed the Statement and Notes on Waste for the year ended December 31, 2022 and ourreport dated May 24, 2023 included an unmodified conclusion.
We previously reviewed the Statements and Notes on Greenhouse Gas CO2e Emissions for the year ended
December 31, 2019 prior to the revisions described in Note 2, and our report dated June 24, 2022 included anunmodified conclusion. We reviewed the adjustments to the 2019 emissions data, which are described in
Note 2, and we are not aware of material modifications that should be made to the adjustments to the 2019
emissions disclosure. The level of assurance obtained in a review is substantially lower than the assurance thatwould have been obtained had an examination been performed.
Our opinion and conclusion are not modified with respect to these matters.
Responsibilities for the Assured Sustainability Information
Management of the Company is responsible for:•designing, implementing and maintaining internal control relevant to the preparation of the Assured
Sustainability Information that is free from material misstatement, whether due to fraud or error;•

selecting or developing suitable criteria for preparing the Assured Sustainability Information andappropriately referring to or describing the criteria used; and•preparing the Assured Sustainability Information in accordance with the Applicable Criteria.

Inherent limitations in preparing the Assured Sustainability Information
As described in Note 1 of the GHG Statement and Note 3 of the Waste Statement, energy use data and waste
volume, respectively, are subject to measurement uncertainties resulting from limitations inherent in the natureand methods used for determining such data. The selection by the Company’s management of different but
acceptable measurement techniques could have resulted in materially different measurements.
Our responsibilities
The attestation standards established by the American Institute of Certified Public Accountants require us to do
the following:
2

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Appendices••

with respect to our examination:–plan and perform the examination to obtain reasonable assurance about whether the Examination
Information is prepared in accordance with the Applicable Criteria, in all material respects; and–express an opinion on the Examination Information, based on our examination.

with respect to our review:–plan and perform the review to obtain limited assurance about whether any material modifications
should be made to the Review Information in order for it to be prepared in accordance with theApplicable Criteria; and–express a conclusion on the Review Information based on our review.

We exercised professional judgment and maintained professional skepticism throughout the engagement. We
designed and performed our procedures to obtain evidence about the Assured Sustainability Information that is
sufficient and appropriate to provide a basis for our examination opinion and review conclusion.
The Nature of Our Examination Engagement
The nature, timing, and extent of the procedures selected depended on our judgment, including an assessmentof the risks of material misstatement of the Examination Information, whether due to fraud or error. We
identified and assessed the risks of material misstatement through understanding the Examination Informationand the engagement circumstances. We also obtained an understanding of the internal control relevant to the
Examination Information in order to design procedures that are appropriate in the circumstances but not for the
purpose of expressing an opinion on the effectiveness of internal controls.
The Nature of Our Review Engagement and Summary of the Work We Performed as The Basis for Our
Conclusion
Our procedures selected depended on our understanding of the Review Information and other engagement
circumstances, and our consideration of areas where material misstatements are likely to arise. In carrying out
our review engagement, we:•assessed the suitability of the criteria used by the Company in preparing the Review Information;•interviewed senior management and relevant staff at corporate and selected locations;•inspected a selection of supporting records;•

applied analytical procedures;•

recalculated the Review Information based on the criteria; and•evaluated the overall presentation of the Review Information to determine whether it is consistent with theApplicable Criteria and in line with our overall knowledge of, and experience with, the Company.

The procedures performed in a review vary in nature and timing from, and are substantially less in extent than,an examination, the objective of which is to obtain reasonable assurance about whether the subject matter
information is in accordance with the criteria, in all material respects, in order to express an opinion. Because of
the limited nature of the review engagement, the level of assurance obtained in a review is substantially lower
than the assurance that would have been obtained had an examination been performed.

Fort Worth, Texas
May 13, 2024

3

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AppendicesStatement and Notes on People Metrics
MetricCriteria1

Page #

Key performance indicators2

Methodology

Employee counts

GRI 2-7,

172-174

Number of total employees

Number of effective employees

Number of total employees by region

Number of effective employees by respective region

Number of total employees by gender

Number of effective employees by respective gender

Number of employees by age group

Number of effective employees by respective age group

Number of employees by seniority

Number of effective employees by respective seniority

Number of employees by job function

Number of effective employees by respective job

Number of full time and part time employees

Number of full time effective employees

Management
metricfunction

Number of part time effective employees
Number of full time and part time employees
by each region

Number of full time effective employees by respective
regionNumber of part time effective employees by respective
regionNumber of full time and part time employees
by each gender

Number of full time effective employees by respective
genderNumber of part time effective employees by respective
genderNew candidates
hired

GRI 401-1

171-172

Number of external candidates hired

Number of external candidates hired

Number of external candidates hired by gender

Number of external candidates by respective gender

Number of external candidates hired by age

Number of external candidates by respective age group

Number of external candidates hired by region

Number of external candidates by respective region who

Number of internal candidates hired

Number of internal candidates hired

Number of internal candidates hired by gender

Number of internal candidates by respective gender who

Number of internal candidates hired by age

Number of internal candidates by respective age group

Number of internal candidates hired by region

Number of internal candidates by respective region who

group

group

who were hired

who were hired

were hired

were hired

who were hired

were hired

Note: Employees can be counted more than once if they are hired or terminated more than once in the same year.

Employee attrition

GRI 401-1

169-171

Number and rate of total employee attrition

Number of effective employees who were voluntarily or
involuntarily terminatedNumber of effective employees who were voluntary or

involuntary terminated divided by the average monthly
effective employee count1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.

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PeoplePlanetPrinciples

AppendicesStatement and Notes on People Metrics continued
MetricCriteria1

Page #

Key performance indicators2

Methodology

Employee attrition

GRI 401-1

169-171

Number and rate of total employee attrition by

Number of effective employees in respective gender

continued

gendercategory who were voluntary or involuntary terminatedNumber of effective employees in respective gendercategory who were voluntary or involuntary terminateddivided by the average monthly effective employee countin respective gender category
Number and rate of total employee attrition by
age group

Number of effective employees in respective age group
who were voluntary or involuntary terminatedNumber of effective employees in respective age group
who were voluntary or involuntary terminated divided
by the average monthly effective employee count inrespective age group
Number and rate of total employee attrition
by region

Number of effective employees in respective region who
were voluntary or involuntary terminatedNumber of effective employees in respective region who
were voluntary or involuntary terminated divided by theaverage monthly effective employee count in respective
regionNote: Employees can be counted more than once if they are hired or terminated more than once in the same year.

Voluntary attrition

Management
metric170-171

Number and rate of voluntary employee
attrition

Number of effective employees who were voluntarily
terminatedNumber of effective employees who were voluntarily

terminated divided by the average monthly effective
employee countNumber and rate of voluntary employee
attrition by gender

Number of effective employees in respective gendercategory who were voluntarily terminatedNumber of effective employees in respective gendercategory who were voluntarily terminated divided by theaverage monthly effective employee count in respective
gender category
Number and rate of voluntary employee
attrition by age group

Number of effective employees in respective age group
who were voluntarily terminatedNumber of effective employees in respective age group

who were voluntarily terminated divided by the averagemonthly effective employee count in respective age
group
Number and rate of voluntary employee
attrition by region

Number of effective employees in respective region who
were voluntarily terminatedNumber of effective employees in respective region

who were voluntarily terminated divided by the averagemonthly effective employee count in respective region
Note: Employees can be counted more than once if they are hired or terminated more than once in the same year.

Employees

Management
metricin leadership

168

programs

Total number of participants in leadership

Number of participants in leadership development

CULTIVATE and ASCEND)

program), IMPACT (mid-career leadership program),development programs (ASPIRE, IMPACT,

programs including ASPIRE (early career leadership

CULTIVATE (mid-career leadership program for women)
and ASCEND (military transition program)

1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.

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AppendicesStatement and Notes on People Metrics continued
MetricCriteria1

Page #

Key performance indicators2

Methodology

Employees

Management

168

Number of employees participating in each

Number of participants in each ASPIRE, IMPACT, CULTIVATE

Number of ASPIRE and IMPACT participants

Number of participants who identify as women for ASPIRE

metricin leadershipprograms

continued

leadership development program

who identify as womenand ASCEND programsand IMPACT

Note: This metric is calculated based on who was part of the program as of December 31, 2023.

U.S. Employees people of color

GRI 405-1,

Management

169

MetricPercentage of U.S. employees who identify as
people of color

Number of effective employees in U.S. who identify as

people of color as of year end divided by total number ofeffective employees in U.S. as of year end

Percentage of U.S. employees who identify

Number of effective employees in U.S. who identify as

Professional Band and above, Executive Bandend divided by total number of effective employees in U.S.

as people of color by seniority (Senior
and above)

Percentage of U.S. employees who identify as
people of color by genderpeople of color and are in respective seniority as of year
who are in respective seniority as of year end

Number of effective employees in U.S. who identify as

people of color in respective gender category as of year

end divided by total number of effective employees in U.S.
who identify as people of color as of year end

Average hours of
training per year

GRI 404-1

178

per employee3

Average hours of training per employee

Average hours of training per employee by
genderNumber of recorded learning hours completed divided bynumber of effective employees

Number of recorded learning hours completed in

respective gender divided by number of effective
employees in respective gender

Average hours of training per employee bycareer band

Number of recorded learning hours completed in

respective career band divided by number of effective
employees in respective career band

Average hours of training per employee by job
function

Number of recorded learning hours completed in

respective job function divided by number of effective
employees in respective job function

Average hours of training per employee bybusiness segment

Number of recorded learning hours completed in

respective business segment divided by number ofeffective employees in respective business segment

Note: Average training hours includes online and in person training completed during the year ended December 31, 2023,
for effective employees as of December 31, 2023, which is recorded in our enterprise learning management system. The
metric does not include training completions maintained outside of the enterprise system and may contain multiple
course completions for the same course by the same employee.

Employees by

GRI 405-1

gender175-176

Percentage of employees by gender

Number of effective employees in respective gender as ofyear end divided by total number of effective employees
as of year end

Percentage of employees by gender for eachseniority

Number of effective employees in respective seniority
and gender as of year end divided by total effective
employees in respective seniority as of year end

Percentage of employees by gender for eachjob function

Number of effective employees in respective function
and gender as of year end divided by total effective
employees in respective job function as of year end

1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.
3

Estimated duration of each training, designated by the training creator, was used for the calculation. Where an estimated duration is not available, the median estimated duration

based on activity type of the training was used. Note: In 2023, an adjustment was made to how the duration field was recorded by the training creator to more accurately represent
time spent on training activities. This accounts for in a significant flux in metric reported in December 31, 2022 to December 31, 2023.

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AppendicesStatement and Notes on People Metrics continued
MetricCriteria1

Page #

Key performance indicators2

Methodology

Employees by

GRI 405-1

175-176

Percentage of employees that are people

Number of effective employees designated as people

gender continued

managers for each gendermanager of respective gender as of year end divided bytotal effective employees designated as people manager
as of year end

Percentage of women-identifying employees
on Board of Directors

Number of employees on Board of Directors who identify
as women as of year end divided by total number ofBoard of Directors as of year end

Percentage of employees by gender

Number of effective employees in respective gender as ofyear end divided by total number of effective employees
as of year end

Percentage of employees by gender for eachseniority

Number of effective employees in respective seniority
and gender as of year end divided by total effective
employees in respective seniority as of year end

Percentage of employees by gender for eachjob function

Number of effective employees in respective function
and gender as of year end divided by total effective
employees in respective job function as of year end

Percentage of employees that are people
managers for each gender

Number of effective employees designated as people

manager of respective gender as of year end divided bytotal effective employees designated as people manager
as of year end

Percentage of women-identifying employees
on Board of Directors

Women in STEMManagement
metricroles

169

Number of employees on Board of Directors who identify
as women as of year end divided by total number ofBoard of Directors as of year end

Percentage of women in STEM roles

Number of effective employees who identify as women
and who are in science, technology, engineering andmathematics (STEM) roles divided by all effective
employees in STEM roles

Baker Hughes has identified STEM roles consistent withroles defined by the United States Bureau of Labor
Statistics.

Employees by age
group

GRI 405-1

176-177

Percentage of employees by age group

Number of effective employees in respective age group,

Percentage of employees by age group for

Number of effective employees in respective age groupeach job function

each seniority

Management
metricrepresentation

177

and job function divided by total effective employees inrespective job function

Percentage of employees by age group forCountry

divided by total effective employees

Number of effective employees in respective age groupand seniority divided by total effective employees inrespective seniority

Number of employees working outside the

Number of effective employees that are working outside

Number of countries with employees

Number of countries with effective employees

Number of nationalities represented byNumber of nationalities represented by effective

United States

employeesof the United States

employees, as self-reported in HR enterprise system

1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.

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AppendicesStatement and Notes on People Metrics continued
MetricCriteria1

Page #

Key performance indicators2

Methodology

Regular

GRI 404-3

168

Percentage of employees receiving regular

Number of effective employees who have completed theperformance

performance and career development reviews

and careerdevelopment
reviews

annual performance and career development review

divided by total number of eligible effective employees

Percentage of employees receiving regular

Number of effective employees who have completed theby genderin respective gender category divided by total number

performance and career development reviews

annual performance and career development review
of eligible effective employees in respective gendercategory

Percentage of employees receiving regular

Number of effective employees who have completed theby career band

respective career band divided by total number of eligible

performance and career development reviews

annual performance and career development review in
effective employees in respective career band

Percentage of employees receiving regular

Number of effective employees who have completed theby job function

respective job function divided by total number of eligible

performance and career development reviews

annual performance and career development review in
effective employees in respective job function

Note: For purposes of this metric, the career band category includes: Professional Band and above (PB+) including
Leadership Training Band (LTB), Professional Band and above excluding Leadership Training Band, Senior Professional
Band and above (SPB+) and Executive Band and above (EB+) as explained in the Glossary of Terms.

Community

Management
metriccontributions

169

Number of volunteer service hours

Number of self-reported volunteer hours by active full-Amount of employee-matched contributions

Amount of employee-matched contributions made by

Amount of Baker Hughes Foundation financial

Amount of Baker Hughes Foundation financial

made by the Baker Hughes Foundation

contributions

Amount of Company in-kind contributions

time employees

the Baker Hughes Foundation

contributions

Amount of company in-kind contributions. In-kind value

is calculated by looking at product sales price of in-kind

donations. Company in-kind contributions represent OFSE
business segment software licenses only.
Total amount of charitable contributions4

Total amount of charitable contributions (sum of

employee-matched contributions, foundation financial
contributions, company in-kind contributions)

Local and diverse
spend withManagement
metric178

suppliers

Amount spent with diverse suppliers and small

Amount of money paid against invoices from suppliers

Amount spent with diverse suppliers and small

Amount of money reported to Baker Hughes by suppliers

businesses by Baker Hughes – Tier 1 spend

businesses by Baker Hughes’ suppliers – Tier
2 spend

Total amount spent – (Tier 1 and Tier 2)

who are diverse or qualify as a small businesses

as part of Tier 2 Diverse Supplier Program

Total amount spent (sum of Tier 1 spend plus Tier 2 spend)

Note: Baker Hughes’ tier 2 spend is allocatable indirect spend. It is calculated based on the Baker Hughes’ suppliers’
spending with diverse suppliers, as defined by the supplier with which Baker Hughes contracts and the dollar volume ofBaker Hughes’ business compared to the suppliers total revenue with Baker Hughes.

1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.
4

Charitable contributions are to qualified charitable organizations defined as an entity that holds active tax-exempt status under Section 501(c)(3) of the United States Internal

Revenue Service Code and classified as a public charity. This includes non-United States charities with international equivalent 501(c)(3) designations.

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AppendicesStatement and Notes on People Metrics continued
MetricCriteria1

Page #

Key performance indicators2

Methodology

Employee

Management

177

Number of employees enrolled in at least one

Number of active employees enrolled in at least one ERG

Percentage of employees enrolled in at least

Number of active employees enrolled in at least one ERG

Number of employees entitled to parental

Number of effective employees entitled to parental leave

Number of employees entitled to parental

Number of effective employees entitled to parental leave

metricresourcegroup (ERG)

membership

ERG

one ERG

Parental leave

GRI 401-3

177

leave

leave by gender

Number of employees that took parental leave

divided by total number of active employees

by gender

Number of effective employees with an approved leave

for maternity, paternity and/or parental that have been
approved in Canada, Germany, Malaysia, Qatar, Saudi
Arabia, United Kingdom and United States

Number of employees that took parental leaveby gender

Number of effective employees with an approved leave
for maternity, paternity and/or parental that have been
approved by gender in Canada, Germany, Malaysia,

Qatar, Saudi Arabia, United Kingdom and United States
Number of employees that returned fromleave in the reporting period following leave

Number of effective employees with approved leave formaternity, paternity and/or parental that have returned towork in Canada, Germany, Malaysia, Qatar, Saudi Arabia,
United Kingdom and United States

Number of employees that returned fromNumber of effective employees with approved leave forby gender

to work by gender in Canada, Germany, Malaysia, Qatar,leave in the reporting period following leavematernity, paternity and/or parental that have returned
Saudi Arabia, United Kingdom and United States

Note: While we offer global parental leave policies in other countries, our reporting capabilities only allow us to reportthese metrics in the above seven countries in 2023.

Employees bygeneration group

Management
metric177

Percentage of employees by generation group

Number of effective employees by generation groupdivided by total effective employees

Note 1 - Reporting boundary
The Company presents its people metrics from operations over which it, or one of its subsidiaries, has the full authority to introduce andimplement its operating policies. Minority-owned joint ventures not operated by the Company are excluded from the reporting boundary.

1

Included to indicate the most comparable GRI metric; however, GRI disclosures may not be fully complete relative to the requirements of GRI.

2

Unless otherwise noted, the KPIs have been prepared based on the reporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker Hughes Company

fiscal year. Effective employees refer to those as of December 31, 2023.

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AppendicesNote 2 - Glossary of Terms
Term

Definition

Gender

Self-identified as men, women, undeclared or no gender selected in HR enterprise system

Career band

Company’s internal classification of various jobs depending on level of responsibility and contribution

Professional band and above (PB+)

Career band including Professional Band, Lead Professional Band, Senior Professional Band, Executive Band, Senior

Executive Band, Vice President, Senior Vice President who are in office-based developing, supporting, applying, leading
and shaping roles and who are at professional, lead professional, or functional tactical positions

For 2022 metrics, Leadership Training Band (LTB) was not included in PB+ because they follow their own performance

management process. For 2023 metrics, we added a sub-metric for PB+ including LTB and PB+ excluding LTB to provide

more transparency. For all other metrics that breakout by PB+, LTB is included in PB+ following our career band structure.

Senior Professional band andCareer band including Senior Professional Band, Executive Band, Senior Executive Band, Vice President, Senior Vice

President who are in office-based applying, leading and shaping roles and who are senior level managers, seasoned

above (SPB+)

managers and specialized individual contributors requiring in-depth understanding of their business or function

Executive band and above (EB+)

Career band including Executive Band, Senior Executive Band, Vice President, Senior Vice President

People of color

Employees who identify as American Indian or Alaska Native, Asian, Black or African American, Hispanic or Latino, Native

ERG

Employee Resource Group. We have the following ERGs: Black Employee Network, Asian Pacific American Forum,

FY 2023

Financial year counted from January 1, 2023 to December 31, 2023

Effective employees

All employees excluding interns, co-ops, trainees, apprentice, inactive employees and contingent workers as of

Active employees

All employees excluding employees on long-term leave of absence, inactive employees and contingent workers as ofJob function

Company’s internal classification according to job family group (Commercial, Enabling, Production, Technical andInternal candidates

An existing employee that filled an open internal position/requisition within the Company

External candidates

A person that is not an employee of the Company that was hired into an open position/requisition

Entitled to parental leave

Leave is defined as paid or unpaid time away from work. An employee is entitled to parental leave based on

Hawaiian or other Pacific Islander, two or more races and self-reported in the United States.

Enabled, LatinX, Multicultural, Pride@work, Veterans and Women’s Network.

December 31, 2023

December 31, 2023

Other). A summary of the jobs compassed by these job functions can be found on page 33.

the eligibility criteria, utilizing the Baker Hughes country policies and/or statutory regulations, whichever is more
encompassing.

Primary and Secondary parent

Company’s designation used for the parental leave benefit program to distinguish the amount of leave entitlement.

Management roles/People

Effective employees who are responsible for the supervision and review of employees

Seniority

Two specific groupings of effective employees in leadership, Senior Professional Band and above (as defined above)

Employee time type category

All effective employees will be categorized into either the Part-Time category (employees with Time Type of Part TimemanagerThis is a self-designation by employee as primary or secondary.

and Executive Band and above (as defined above)plus employees with Time Type of Full Time who are less than 1.0 full time employee headcount (FTE)) and Full-Time
category (employees with Time Type of Full Time and 1.0 or greater FTE).

Age group

All effective employees will be categorized into one of the following age groups: Under 30 years old, 30 – 50 years

old and over 50 years old. Employees whose birthdate is not available will be categorized as age group left blank.

Calculation for age group will use age as whole numbers only considered as of December 31, 2023 (i.e. if employee is 50
years old and 6 days, employee will be in the 30-50 age group).

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AppendicesNote 2 - Glossary of Terms continued
Term

Definition

Nationality

An identification of a person based on their status of belonging to a particular nation. This is self-identified byGeneration group

All effective employees will be categorized into one of the following generation groups based on birth year: Silent (1928

employees in the HR enterprise system.

through 1945), Baby Boomers (1946 through 1964), Generation X (1965 through 1979), Generation Y/Millennials (1980

through 1995) and Generation Z (1996 through present); employees whose birth year is not available will be categorized
as generation group left blank.

RegionA group of countries located in the same geographically specified area as determined by the company. Regions

include: Asia Pacific, Russia and Commonwealth of Independent States, Middle East, North Africa, Turkey and India, North
America, Latin America, Sub-Saharan Africa and Europe.

Supplier

Organization or individual that enters into an agreement with the acquirer or integrator for the supply of a product orservice. This includes all suppliers in the supply chain, developers or manufacturers of systems, system components, or
system services; systems integrators; vendors; product resellers; and third-party partners.

Diverse supplier

An organization that is at least 51% owned, operated and controlled by an individual or group that is part of a

traditionally underrepresented or underserved group. Some common classifications tracked by Baker Hughes include:• Minority-Owned• Women-Owned• LGBT-Owned• Disabled-Owned• Indigenous• Aboriginal• Veteran-Owned• Self-Certified• HUBZone (Historically Underutilized Business Zone (United States only))
Small business supplier5

An organization that meets the local government’s small business standard criteria

Tier 1 spend

The dollar amount spent by Baker Hughes directly with suppliers who are identified as small or diverse. See definition ofTier 2 spend

Baker Hughes suppliers who have their own Supplier Diversity Program where they track spend with small and/or diverse

STEM roles

Jobs identified as being within career fields of science, technology, engineering and mathematics. At Baker Hughes, thisDiverse supplier abovebusinesses which is then reported to Baker Hughes through use of our third-party tracking tool

includes all roles in the job family groups of:• Digital Technology• Engineering/Technology• Environmental Health & Safety• Field Operations• Information Technology• Product Management• Project Management• Quality• Services
and all roles in the following job families:• Manufacturing Engineering• Finance IT

5

For small-business suppliers, we rely on vetted third parties such as SupplierGATEWAY, Dun and Bradstreet, Small Business Administration and, in some regions, validating what thesmall business has provided to Baker Hughes against the applicable country small business to determine if small business criteria are met.

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AppendicesStatement and Notes on
Greenhouse Gas CO2e Emissions
Statement on Gas CO2e Emissions (MT CO2e)

2019

2023

Total scope 1 Emissions

501,791

383,096

Total scope 2 Indirect Emissions - Location Based

307,082

217,941

Total scope 2 Indirect Emissions - Market Based299,296

191,417

Total scope 1 and 2 Emissions - Market Based

801,087

574,513

236,832,567

433,728,176

Total reported scope 3 Emissions

Note 1 - Company
Baker Hughes Company (“Baker Hughes,” “the Company,” “we,” “us,” or “our”) is an energy

technology company with a diversified portfolio of technologies and services that span theenergy and industrial value chain. Built on a century of experience and conducting businessin over 120 countries, our innovative technologies and services are taking energy forward.

The Statement and Notes on Greenhouse Gas CO2e Emissions have been prepared based onreporting year 2023, from January 1, 2023 to December 31, 2023, corresponding to the Baker

Hughes Company fiscal year. The Statement and Notes on GHG CO2e emissions also include

emissions data from base reporting year 2019, from January 1, 2019 to December 31, 2019,
corresponding to the Company’s fiscal year.

The Statement and Notes on GHG CO2e Emissions do not include 2020-2022 emissions

data since recalculated GHG emissions data for all years between the base year and thereporting year is optional, as noted in the World Resources Institute (WRI)/ World BusinessCouncil for Sustainable Development (WBCSD) Greenhouse Gas Protocol: A Corporate

Accounting and Reporting Standard, Revised Edition.

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AppendicesNote 1 - Company continued

Scope 1
GHG emissions information has been prepared in accordance with the WRI/WBCSD Greenhouse Gas Protocol: A Corporate Accounting andReporting Standard, Revised Edition. Scope 1 represents direct GHG emissions that occur from sources that are owned or controlled by Baker
Hughes.

Scope 1, facilities: Where fuel quantity is known, stationary combustion source methodology is used as described in the 2023 United States
Environmental Protection Agency (EPA) Mandatory Reporting Rule, 40 CFR Part 98 Subpart C based on actual purchases during the year.

Where fuel quantity is unknown, estimation methodology is based on size of occupied space and type of operation using the 2023 UnitedStates Energy Information Administration (EIA) Commercial Buildings Energy Consumption Survey (CBECS) data.

Scope 1, field activities: Where fuel quantity is known, stationary combustion source methodology is used as described in the EPA Mandatory

Reporting Rule, 40 CFR Part 98 Subpart C based on actual purchases during the year, or actual consumption in instances where fuel was notpurchased. Where fuel quantity is unknown, fuel quantity is calculated using known fuel purchase records, operating hours and an averagehourly consumption rate for field equipment.

Scope 1, vehicles and marine vessels: Where fuel quantity is known or based on fixed usage contracts, mobile combustion source

methodology is as described in the EPA Center for Corporate Climate Leadership 2023 GHG Inventory Guidance on Direct Emissions from
Mobile Combustion Sources. Where vehicle fuel quantity is unknown, estimation methodology is based on regional averages of similarvehicles with known fuel usage.

Scope 2
GHG emissions information has been prepared in accordance with the 2023 WRI/WBCSD GHG Protocol scope 2 Guidance: An amendment to

the GHG Protocol Corporate Standard. Scope 2 accounts for GHG emissions from the generation of purchased electricity, heating, steam andcooling consumed by the Company.

Scope 2, facilities: Emissions from electricity use are calculated with US EPA eGRID, Canada National Inventory, International Energy Agency(IEA) and Association of Issuing Bodies (AIB) emission factors. We calculate market-based emissions based on electricity procurement

decisions and details including contracts, renewable energy certificates (RECs) in the US and renewable energy guarantees of origin (REGOs)
in the United Kingdom (UK) and European Union. European residual mix factors are used where REGOs are unavailable. Location-based

emissions are calculated using national grid factors by location for our global facility portfolio. Where electricity use data is unavailable,
estimation methodology involves calculation of energy use based on square footage and facility type using the EIA CBECS data.

Scope 2, remote work: Emissions associated with remote work are included in scope 2. This categorization deviates from the GHG Protocol;

however, we take this approach to counterbalance reduced emissions resulting from fewer office-based employees working on-site at ourfacilities since the COVID-19 pandemic. The Company continues to offer flexible work arrangements to our global employees and remote

working has continued at a somewhat lower rate. Emissions from home office electricity use were assessed in a Baker Hughes-specific homeoffice study. The study assessed the actual electricity use by volunteer employee participants and calculated the corresponding emissions
using IEA Emission Factors.

Scope 3
GHG emissions information has been prepared in accordance with the WRI/WBCSD GHG Protocol: Corporate Value Chain (scope 3),

Accounting and Reporting Standard. Scope 3 includes indirect GHG emissions (not included in scope 2) that occur in the value chain of theCompany, including both upstream and downstream emissions categories listed in Notes 7 and 8.

Collectively, the WRI/WBCSD GHG Protocol: A Corporate Accounting and Reporting Standard, Revised Edition, the GHG Protocol scope 2

Guidance: An amendment to the GHG Protocol Corporate Standard and the GHG Protocol: Corporate Value Chain (scope 3), Accounting andReporting Standard are referred to as the “GHG Protocol” in this document.

Estimation uncertainties
The Company obtains energy use data from across our global operations for the calculation of our GHG inventory in accordance with the GHG
Protocol. However, there are estimation uncertainties resulting from the limitations inherent in the methodologies used to calculate energy

and emissions for the subset of facilities and activities where actual use data is not available. These methodologies are described within

the Statement and Notes on GHG CO2e Emissions for scope 1, 2 and 3 emissions categories. The selection by the Company’s management ofdifferent but acceptable measurement techniques could have resulted in materially different measurements.

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AppendicesNote 2 – GHG reporting inventory boundaries
The Company presents its emissions under the operational control approach, accounting

for emissions from operations over which it, or one of its subsidiaries, has the full authority tointroduce and implement its operating policies. We exclude minority-owned joint ventures notoperated by the Company.

Operational boundaries
Scope 1 and 2 operational boundaries: We include scope 1 emissions from the combustionof fuels on-site at our facilities, including natural gas, distillate, gasoline, kerosene, propane,
residual fuel oil and hydrofluorocarbons (HFCs). Scope 1 also includes offsite activities

associated with transportation in our company vehicle fleet and field activities related tostimulation work carried out on marine vessels, pressure pumping operations, integrated wellservices and solutions and offshore wireline activities.

Scope 2 includes CO2e emissions from the purchase and self-generation of renewable andnon-renewable electricity, heating, steam and cooling used on-site across our global facility
portfolio. Emissions associated with remote work are also included in scope 2.

For both scope 1 and 2, the Company includes both owned and leased facilities, vehicles

and equipment. The Company accounts for CO2e emissions from long-term leased assets(equipment, vehicles and real estate) that are treated as wholly-owned assets in financial

accounting and are recorded as such on the balance sheet. We account for emissions from allother leased vehicles based on operational fleet management inventories. Facilities subleased

to third parties are excluded and scope 1 does not include emissions from process and pipeline

services because robust methods to calculate these are not yet available.

Scope 3 operational boundaries:
Scope 3 includes GHG Protocol:•

Category 1 – purchased goods andservices;•

Category 2 - capital goods;•

Category 3 – fuel and energy related•

Category 4 – upstream transportation•

Category 6 – business travel;•

Category 7 – employee commuting;•

Category 9 – downstream

activities (not included in scope 1 and 2);

Baker Hughes;•

and distribution: shipments paid forby Baker Hughes and captured inContents

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Category 11 – use of sold products:

direct-use phase emissions fromproducts and services; andtransportation management systems;•

transportation and distribution:

outbound shipments not paid for by

PeopleCategory 15 – investments: equity
investments.

PlanetPrinciples

AppendicesNote 2 - GHG reporting inventory boundaries continued

Base year
The GHG base year applies to scope 1, scope 2 and scope 3 emissions and has been prepared in accordance with the GHG Protocol set out
herein. The Company has established 2019 as the base year for scope 1, 2 and 3 as it best represents the most recent year of business-as-

usual operations prior to the COVID-19 pandemic. In accordance with the GHG Protocol, Baker Hughes has established a policy to recalculatebase year emissions based on a 5% cumulative significance threshold applied to adjustments of scope 1, scope 2 and scope 3 categories

individually for any reporting year. Significant changes evaluated for recalculation include recent company structural changes, boundaryenhancement and enhancements in methodology and data. The recalculation of our fixed base year emissions is in accordance with the
GHG Protocol’s “same-year/all-year” approach.

Adjustments to the scope 1 and 2 2019 base year were made for:01.

Divestiture of two business units in 2023 and acquisition of seven business units in 2022.

02.

Changes in accounting methodology for more accurate facility emissions estimations.

Adjustments to the scope 3 2019 base year were made for:01.

Divestiture of one business unit in 2022 for all categories except 3 which was adjusted in the prior year.

02.

Divestiture of two business units in 2023 for category 3.

03. Acquisition of seven business units in 2022 for all categories.
04. Changes to emission factors to include upstream life cycle emissions for fuel and energy consumed
in categories 4, 7, 9 and 11. Additionally, category 5 emissions factors changed from Department forEnvironment, Food and Rural Affairs (DEFRA) to EPA.
05.

Changes in accounting methodology for categories 2,3 and 15 to account for the discontinuation of
the Quantis tool and enhancements in Category 9 estimation methodology.

Greenhouse gases covered
Emissions data is provided in metric tonnes (MT) for each GHG separately in addition to the total of all GHGs. The GHG emissions disclosed in

the Statement and Notes on GHG Emissions include the following seven greenhouse gases: carbon dioxide (CO2), methane (CH4), nitrous oxide(N2O), HFCs, perfluorocarbons (PFCs), nitrogen trifluoride (NF3) and sulfur hexafluoride (SF6).

Market-based approach
Carbon emissions can be reduced through energy efficiency and conservation measures and by increasing the use of zero carbon or low-

carbon energy sources. The market-based approach calculates the carbon emissions based on our electricity procurement decisions which
include the use of renewables and zero-emissions energy sources, such as nuclear. Details including contracts, RECs and REGOs are used in

calculating market-based emissions. We apply energy attribute certificates (EACs) only to the electricity consumption of specific facilities

under the contract. Excess EACs are not applied to sites or regions other than those under contract. We use market-based values to assess

our performance against our stated emissions reduction goals in the current reporting year as compared to our base year.

Global warming potentials
GHG emissions were calculated using the Global Warming Potentials (GWP) from the International Panel on Climate Change (IPCC) Sixth

Assessment Report (AR6 – 100 year). Where emission factors are published with prior Assessment Report GWPs, we have adjusted the factors
to use AR6 for consistency across our inventory.

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AppendicesNote 2 - GHG reporting inventory boundaries continued

GHG Emissions Factors
Scope 1

Emissions scope

Emissions source

Emissions factors

VehicleDistillate fuel,2019: US EPA Emission Factors for Greenhouse Gas Inventories (Table 1), March 26, 2020.

gasoline/petrol

US EPA, Inventory of US Greenhouse Gas Emissions and Sinks: 1990–2016 EPA 430-R-18003, Annex 3.2

2023: US EPA, Inventory of US Greenhouse Gas Emissions and Sinks: 1990–2021 | 2023 All
Annexes (pdf) | Table A-70, Table A-73 and Table A-74. April 13, 2023.

US EPA Emission Factors for Greenhouse Gas Inventories (Table 1, 3, 4 and 5). September
12, 2023.
Field activities(Pressure pumping,Distillate fuelwireline, integrated

2020.

2023: US EPA Emission Factors for Greenhouse Gas Inventories (Table 1 and 5).

well services and

September 12, 2023.

marine vessels)
Facilities

2019: US EPA Emission Factors for Greenhouse Gas Inventories (Table 1 and 5), March 26,

Natural gas, distillate,gasoline, kerosene,

liquid propane gas,
propane, residual
fuel oil, HFCs

2019: US EPA Emission Factors for Greenhouse Gas Inventories (Table 1), March 26, 2020.
International Journal of Hydrogen Energy 46 – Global warming consequences of

replacing natural gas with hydrogen in the domestic energy sectors of future lowcarbon economies in the UK and USA, July 8, 2021.

2023: US EPA Emission Factors for Greenhouse Gas Inventories (Table 1). September 12,
2023.

International Journal of Hydrogen Energy 46 – Global warming consequences of

replacing natural gas with hydrogen in the domestic energy sectors of future lowcarbon economies in the UK and USA, July 8, 2021.

Scope 2

Facilities

Electricity

US EPA eGRID 2018, March 9, 2020; 2019 Canada National Inventory Report 1990-2017,

Annex 13-2 through 13-14, 2019; IEA 2017 released 2019; AIB, European Residual Mixes 2019,
Version 1.1, August 9, 20202023: US EPA eGRID 2021. January 30, 2023; 2023 Canada National Inventory Report

1990-2021, Part 3, Table A13.1-13.14. April 2023; IEA 2023 released September 2023; AIB,
European Residual Mixes 2022, Version 1.0, Table 2. June 1st, 2023.
Remote work

Electricity

2019: IEA 2017 released 2019
2023: IEA 2023 released September 2023

Scope 3Category 1

Purchased goods
and services

2019: EXIOBASE 3 EE MRIO tables, Version 3.7, December 18, 2019
2023: EXIOBASE 3 EE MRIO tables, Version 3.8.2, October 21, 2021

Category 2

Capital goods

2019 – 2023: US EPA Environmentally-Extended Input-Output (USEEIO) v1.1 - Matrices –Category 3

Fuel- and energy-

2019: DEFRA 2019 UK Government GHG Conversion Factors for company report 2019 v 1.

related activities (notincluded in scope 1 orscope 2)

November 12, 2020

Fuels WTT

2023: DEFRA 2023 UK Government GHG Conversion Factors for company reporting 2023v 1. Fuels WTT2019 and 2023: IEA 2023 Life Cyle Upstream Emission Factors 2023 (Pilot Edition), Total

Upstream Factors and Life Cycle Transmission and Distribution Factors tabs of database
Category 4

Upstreamtransportation anddistribution

2019: DEFRA 2019. UK Government GHG Conversion Factors for Company Reporting 2019,v 1. Freighting Goods Table

DEFRA 2019 UK Government GHG Conversion Factors for company reporting 2019 v 1.
Freight WTT

2023: DEFRA 2023. UK Government GHG Conversion Factors for company reporting 2023,v 1. Freighting Goods Table

DEFRA 2023 UK Government GHG Conversion Factors for company reporting 2023 v 1.
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Appendices

GHG CO2e Emissions Factors continued

Scope 3 continued

Emissions scope

Emissions source

Emissions factors

Category 5

Waste generated in

2019: US EPA Emission Factors Hub 2020 Table 9

Category 6

operations

Business Travel2023: US EPA Emission Factors Hub 2023, Table 9
2019: US EPA Emission Factors for Greenhouse Gas Inventories (Tables 2 and 10), March
26, 2020

2023: UK Government–DEFRA GHG Conversion Factors for Company Reporting (hotel
stay, Business travel- air, Business travel- land)

US EPA Emission Factors for Greenhouse Gas Inventories (Tables 2 and 10), April 1, 2023
2019 and 2023: India GHG Program 2015. V 1, Passenger Car Table, p. 9
US EPA USEEIO v1.1
Category 7

Employeecommuting2019: US EPA Emission Factors for Greenhouse Gas Inventories (Table 10), March 26, 2020
DEFRA 2019 UK Government GHG Conversion Factors for company reporting 2019 v 1.
Business Travel Land & WTT - passenger vehicles & travel - land2023: US EPA Emission Factors for Greenhouse Gas Inventories (Table 10), April 1, 2023
DEFRA 2023 UK Government GHG Conversion Factors for company reporting 2023 v 1.
Business Travel Land & WTT - passenger vehicles & travel - land2019 and 2023: India GHG Program 2015. V 1, Passenger Car Table, p. 9
Category 9

Downstream

transportation and2019 and 2023: Same as Category 4

distribution
Category 11

Use of sold products

2019: IEA 2019 released 2019
IEA 2023 released September 2023
SimaPro 9.0.0.30 with Ecoinvent 3.5 database2023: EcoInvent 3.6 database2019 and 2023: IEA 2023 Life Cyle Upstream Emission Factors 2023 (Pilot Edition), Total
Upstream Factors and Life Cycle Transmission and Distribution Factors tabs

Category 15

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AppendicesNote 3 - CO2e intensity
Total scope 1, scope 2 (market based) and scope 3 emissions per dollar of revenue
Market based: MT CO2e per $ revenue

2019

2023

Scope 1 per $ revenue

0.000021

0.000015

Scope 2 per $ revenue

0.000013

0.000008

Scope 3 per $ revenue

0.009935

0.017005

Total per $ revenue

0.009969

0.017028

Total revenue (millions USD)

$23,838$25,506

Note 4 - CO2e emissions data by GHG
Emissions data for all seven GHGs in metric tonnes and in tonnes of CO2e include only scope 1
and 2 emissions.

GHG Emissions by gas

in MT CO2e
2023

CO2

CH4

N 2O

HFCs

PFCs

NF3

SF6

Scope 1

378,868

3,296

932

0

0

0

0

216,967

328

646

Not
applicableNot
applicableNot
applicableNot
applicable

190,720

219

478

Not
applicable

Not

Not

Not

applicableapplicableapplicable

Scope 2, LocationBased Approach

Scope 2, MarketBased Approachin absolute MT gas
2023

CO2

CH4

N 2O

HFCs

PFCs

NF3

SF6

Scope 1

378,868

118

3

0

0

0

0

216,967122

Not
applicableNot
applicableNot
applicableNot
applicable

190,72082Not
applicableNot
applicableNot
applicableNot
applicable

Scope 2, LocationBased Approach

Scope 2, MarketBased Approach

Note 5 - Emissions data on direct or biogenic CO2
emissions from biologically sequestered carbon
There are no emissions applicable to biologically sequestered carbon (e.g., CO2 from burning
biomass or biofuels).

Nikki Hy, Chemical Engineer, OFSE

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AppendicesNote 6 - Information on offsets
It is the Baker Hughes sustainability policy to exhaust all carbon emissions reduction

pathways prior to starting to use offsets. Carbon offsets are not included in our short to
mid-term net-zero roadmap (See Note 2, market-based approach).

Note 7 - Scope 3 reporting
Scope 3 reporting (MT CO2e)

Category
Upstream scope 3
emissionsCategory 1

Purchased goods
and Services

2019

2023

Notes

4,587,993

6,368,267

Includes purchase order spend related to purchased goods andservices, except for capital goods (category 2), utilities (category3), logistics (category 4), waste (category 5), and business travel(category 6). Spend considered relates to raw materials, finished& semi finished goods and services provided to the Company.
Category 2

Capital goods

167,703

147,120

Includes emissions from the upstream production of Plant,

Property, & Equipment (PP&E) from the Company’s Fixed AssetRegistry.

Category 3

Fuel and energyrelated activities

186,887

143,841

Includes emissions from fuel and energy related activities not

670,580

331,325

Includes domestic and international third-party owned or(not included inalready accounted for in scope 1 and scope 2 emissions.

scope 1 or 2)
Category 4

Upstreamtransportation anddistribution

Category 5

Category 6

Waste generated inoperations

operated transportation via land, sea or air purchased by Baker
Hughes.

136,287

108,781

Includes emissions from the disposal of waste types, hazardousand non-hazardous waste and disposal methods, such as
recycling, landfill or re-use.

Business travel

102,015

68,967

Includes business travel booked within and outside Baker Hughes’
third-party booking system and out-of-pocket business travel

expenses. This includes business travel activities such as air, rail,bus, automobiles (including employee owned and rental cars), as
well as hotel stays when employees travel.
Category 7

Employeecommuting

186,849

152,870

Includes commuting emissions from active employees except
for home office emissions for employees who work remotely.

This includes travel by personal vehicle, public transportation orother zero emission methods. Optional home office emissions arereported under scope 2.

Downstream

scope 3 emissions

Category 8

Leased assets

NotapplicableNot
applicable

Over 99% of emissions from the operation of leased assets are

Category 9

Downstream

482,549

260,844

Includes domestic and international third-party owned ortransportation anddistribution

included in scope 1 and 2, or scope 3 category 11.

operated transportation related to Baker Hughes products, vialand, sea or air, purchased by value chain partners.

Category 10

Processing of soldinsignificant

insignificant

Over 99% of Baker Hughes revenues are from finished goods.

Category 11

Use of sold products

230,203,237

425,927,694

Includes in-use emissions from products and services sold by

products

Baker Hughes. These direct use-phase emissions originate fromthe combustion of fuel or consumption of electricity, steam andleakage of greenhouses gases during the operation of soldproducts and services.

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AppendicesNote 7 - Scope 3 reporting continued
Scope 3 reporting (MT CO2e)

Category
Downstream

scope 3 emissions

Category 12

End-of-life

2019

2023

Notes

Not reported

Not reported

Further engagement with customers is needed to understand how

treatment of soldproducts are disposed/dispositioned.

products

continued

Category 13

Leased assets

Excludedcategory

Excludedcategory

Baker Hughes does not distinguish between products sold andleased and therefore accounts for leased assets within category
11 - Use of Sold Products.

Category 14

FranchisesNotapplicableNot
applicable

Baker Hughes does not operate franchises.

Category 15

Investments

108,467

218,467

Includes equity investments which are not consolidated into Baker
Hughes financial statements. Certain equity investments are notincluded as the Company is limited in its ability to collect data.

Total scope 3 emissions

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433,728,176

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AppendicesNote 8 - Scope 3 additional disclosures
Summary of the category scope, types and sources of data used, data quality,

methodology, allocation methods and assumptions used to calculate emissions.

Description of scope 3 methodologies and data used

Upstream scope 3 emissions
Description of the types and sources of data used

Description of the methodologies, allocation methods andCategory 1,

Activity data: (Primary data) direct and indirect purchasing activity in

The calculation uses the spend-based methodology. Where spend

and services

Emissions factors: (Secondary data) cradle-to-gate emission factors

to calculate emissions

Purchased goods

assumptions used to calculate emissions

the reporting year

for purchased goods and services were obtained from EXIOBASE 3

cannot be mapped to a United Nations Standard Products andServices Code (UNSPSC) code, emissions are estimated throughextrapolation of mapped spend.

Emissions = (spend by UNSPSC) x (mapped EEIO factor)

Description of the data quality of reported emissions

Very Good

Percentage of emissions calculated using data obtained from0%

Activity data: (Primary data) PP&E purchasing activity in the reporting

The calculation uses the average spend-based methodology andEmissions factors: US EPA EEIO Factor Table

Emissions = (spend by category) x (EEIO Emissions Factor)

Description of the data quality of reported emissions

Very Good

Percentage of emissions calculated using data obtained from0%

Category 3,

Activity data: (Primary data) scope 1 and scope 2 usage (MWh) data byThis category uses scope 1 and 2 Activity data in MWh and applies

relatedEmissions factors: Fuels & Purchased Heat - DEFRA WTT Emission

suppliers or other value chain partners

Category 2,

year

Capital goods

suppliers or other value chain partners

Fuel and energy

fuel or energy source

emission factors published by the US EPA.

appropriate upstream and transmission & distribution emissions
factors as applicable.

Factors, Electricity - IEA Emission Factors.

Emissions = (Scope 1 or 2 usage by energy source) x (upstream

Description of the data quality of reported emissions

Very Good

Percentage of emissions calculated using data obtained from0%

Category 4,

Activity data: (Primary data) Details from the company’s transportation

The calculation uses a combination of the distance-based andtransportation

destination of the shipment, the mode of transport and weight for

freight spend is used to extrapolate emissions.

emissions factor)

suppliers or other value chain partners

Upstreammanagement system including the freight spend, origin andand logistics

domestic and international movements.

Emissions factors: (Secondary data) The emission factors are from

DEFRA Conversion Factors for Company Reporting, Freighting Goods
table for each mode of transport.

Weight of shipment by mode)/(% of total freight spend with activity
data)

Good

Percentage of emissions calculated using data obtained from0%

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Emissions = (Emission Factor by mode x distance of movement x

Description of the data quality of reported emissions

suppliers or other value chain partners

Contents

spend-based methodology. Where activity data is not available,

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AppendicesNote 8 - Scope 3 additional disclosures continued

Description of scope 3 methodologies and data used

Upstream scope 3 emissions continued
Description of the types and sources of data used

Description of the methodologies, allocation methods andCategory 5, Waste

Activity data: (Primary data) The quantities of hazardous,

The calculation uses the Waste-Type-Specific methodology.

operations

were obtained from the Company’s HSE data management system.

10,000 square feet facility or some rental facilities), activity data

to calculate emissions

generated fromassumptions used to calculate emissions

nonhazardous, recycled and e-waste generated during operations
The data also includes the treatment methods recycling, landfill,incineration with and without energy recovery and others.

Emissions factors: (Secondary data) The emission factors are from the
US EPA GHG Emission Factors Hub, Table 9.

Where data is unavailable (does not meet reporting threshold of
is extrapolated considering region and facility type. For 2019, weback-cast emissions based on 2022 waste quantities, the 2019 DEFRA

Conversion Factor and 2019 revenue. The back-casting of 2022 wastequantities is based on the facilities under operational control in 2022.
Emissions = (emission factor by waste type and disposal method) x(amount of waste by type and disposal method)

Description of the data quality of reported emissions

Good

Percentage of emissions calculated using data obtained from0%

Activity data: (Primary data) Distance per mode of transportation

The calculation uses the distance-based methodology for travel andsuppliers or other value chain partners

Category 6,

and number of hotel nights Baker Hughes employees booked in theBusiness travel

reporting year is collected by Baker Hughes external partners, namely
our travel management partner and preferred rental car providers.

(Primary data) Distance travelled by personal use of car for businesstravel as reported in Baker Hughes expense management system.

hotel stays and spend-based methodology for expenses.

Emissions = ∑ (distance travelled by vehicle type (vehicle-km

or passenger-km) × vehicle specific emission factor (kg CO2e/

vehicle-km or kg CO2e/passenger-km)) + ∑ (annual number ofhotel nights (nights) × hotel emission factor (kg CO2e/night)) + (( ∑Emissions factors: (Secondary data) Emission factors for rental cars are(Expenses claimed for public transport) - ∑ (Expenses covered byAssessment Report

Reports used for other travel expenses include reports from thirdfrom EPA by car class and GWP values as reported within the IPCC Fifth(Secondary data) Emission factors for hotel are from DEFRA GHG

Conversion Factors for Company Reporting – “Hotel stay.” Where data isother reports)) x EEIO emission factor (kg CO2e/$) )party travel vendors.

not available by country, an average emission factor is applied.
(Secondary data) Emission factors for air are from DEFRA’s GHG

Conversion Factors considering flight types (short haul, longhaul) andcabin class.

(Secondary data) Emission factors for rail are from DEFRA’s GHG

Conversion Factors considering national and international rail.

(Secondary data) Emission factors for personal cars used for businesstravel are from country-specific sources. US – EPA Emission Factors Hub;
India

– India GHG Program; UK & all other countries– DEFRA Conversion Factors.
(Secondary data) Emission factor for public transportation spend isfrom US EPA USEEIO matrices

Description of the data quality of reported emissions

Good

Percentage of emissions calculated using data obtained from85%

suppliers or other value chain partners

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AppendicesNote 8 - Scope 3 additional disclosures continued
Description of scope 3 methodologies and data used

Upstream scope 3 emissions continued
Description of the types and sources of data used

Description of the methodologies, allocation methods andCategory 7,

Activity data: (Primary data) Employee count from human capitalThis calculation uses the average-data method and assumes ancommutingto calculate emissions

Employeeassumptions used to calculate emissions

management system and direct employee commuting data

average distance travelled each day, number of employees working(mode, distance, frequency) taken by a company wide survey.

from home and 48 working weeks in a year with a 5-day work week.

(Secondary data) Estimated one-way commute miles from US

Assumes car travel is representative of employee commuting

2010 Status of the Nation’s Highways, Bridges and Transit: Conditions

data quality in the future by surveying our employee base.

Department of Transportation, Federal Highway Administration,

behaviors as other data is not available. We aspire to improve the& Performance (https://www.fhwa.dot.gov/policy/2010cpr/execsum.

Emissions = total distance travelled by vehicle type x ∑ ((# Employees

cfm for 2019 and https://www.fhwa.dot.gov/policyinformation/
statistics/2020/vm1.cfm for 2021)

Emissions factors: (Secondary data) Emissions factors from EPA

GHG Emissions Factors Hub – Table 10 Scope 3 Category 6 and 7.

- # Employees working remotely) x distance travelled from work tohome / day (one-way) x 2 x number of commuting days per year)

OR Emissions = Distance travelled x Emission factor per vehicle typex frequency of commute. This is only applicable to employees who
responded to the survey.

Description of the data quality of reported emissions

Good

Percentage of emissions calculated using data obtained from0%

suppliers or other value chain partners

Downstream scope 3 emissions
Category 9,

Activity data: (Secondary data) Category 4 emissions from upstream

This calculation uses a combination of distance-based andtransportation

Hughes purchased shipments vs. third-party purchased shipments,

extrapolating emissions from category 4 based on revenue.

Downstream

transportation and distribution and estimated percentage of Baker

and distribution

based on Incoterms weighted by activity.

(Secondary data) Revenue data, along with Incoterm weighting, is used
to estimate emissions for category 9.

sold products

Emissions = (emissions from outbound category 4) x (ratio of BHpurchased vs. not purchased)

Description of the data quality of reported emissions

Fair

Percentage of emissions calculated using data obtained from0%

Activity data: (Primary data) Revenue, sales, build plan packaging data

We calculate direct use-phase emissions for products and services.

suppliers or other value chain partners

Category 11, Use ofspend-based methods. Emissions are estimated for category 9 byfor products and operating hours for service delivery.

(Primary data) Product specifications and subject-matter-expert
testimony.

Emissions factors: (Secondary data) See GHG Emission Factors table in
Note 2 above.

Energy consumption, gas leakage, product utilization and estimatedlifetime of products is based on product expert knowledge andtechnical calculations. Emissions are recognized once for the entire
lifetime of products upon sale or completed build of the product,
dependent on product type.

Emissions = Sum of emissions (MT CO2e) x qty sold in reporting year
(functional unit) x expected life (years) x allocation factor

Description of the data quality of reported emissions

Good

Percentage of emissions calculated using data obtained from0%

Activity data: (Primary data) Revenue and industry of equity

This estimation uses the average data method, by taking reported

statements.

emissions factor based on the purpose of the business.

suppliers or other value chain partners

Category 15,

investments which are not consolidated into the Company’s financial

Investments

Emissions factors are US EEIO Emission Factors - which are mapped tothe primary business purpose for each investment.

revenue data from the invested companies and applying an

Where investments do not report revenue (e.g. due to being prerevenue or inactive), no emissions are calculated.
Emissions = ($ revenue) x (EEIO Emissions Factor)

Description of the data quality of reported emissions

Fair

Percentage of emissions calculated using data obtained from0%

suppliers or other value chain partners

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AppendicesStatement and Notes on Waste
Statement on Waste results in Metric Tons (MT)MetricKey performance indicators

2022

2023

Waste

Waste generated (MT)235,403.0

216,808.8

Waste generated - Hazardous waste (MT)120,298.0

80,293.3

Waste generated - Non-Hazardous waste (MT)87,434.0

106,844.4

Waste generated - E-waste (MT)

188.0

124.2

Waste generated - Metals (MT)27,483.0

29,547.0

Waste recycled (MT)57,666.0

60,919.7

Waste recycled - Hazardous waste (MT)7,761.0

5,660.2

Waste recycled - Non-Hazardous waste (MT)22,249.0

25,601.2

Waste recycled - E-waste (MT)

173.0

111.3

Waste recycled - Metals (MT)27,483.0

29,547.0

Waste disposed (MT)177,737.0

155,889.1

Waste disposed - Hazardous waste (MT)112,537.0

74,633.1

Waste disposed - Non-Hazardous waste (MT)65,185.0

81,243.2

Waste disposed - E-waste (MT)

15.0

12.9

Waste disposed - Metals (MT)

0.0

0.0

Hazardous waste - Offsite preparation for reuse (MT)

629.0

559.0

Hazardous waste - Offsite reclamation (MT)

3.0

4.3

Hazardous waste - Offsite recycling (MT)

0.0

0.0

Hazardous waste - Offsite material recovery operations (MT)

0.0

0.0

Hazardous waste - Other offsite recovery options (MT)7,129.0

5,096.9

Non-hazardous waste - Offsite preparation for reuse (MT)801.0

1,154.6

Non-hazardous waste - Offsite reclamation (MT)

221.0

349.2

Non-hazardous waste - Offsite recycling (MT)

0.0

0.0

Non-hazardous waste - Offsite material recovery operations (MT)

0.0

0.0

Non-hazardous waste - Other offsite recovery options (MT)21,227.0

24,097.4

E-waste - Offsite preparation for reuse (MT)

6.0

1.8

E-waste - Offsite reclamation (MT)

0.0

0.0

E-waste - Offsite recycling (MT)

167.0

109.5

E-waste - Offsite material recovery operations (MT)

0.0

0.0

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AppendicesStatement on Waste results in Metric Tons (MT) continued

MetricKey performance indicators

2022

2022

Waste

E-waste - Offsite material recovery operations (MT)

0.0

0.0

E-waste - Other offsite recovery options (MT)

0.0

0.0

Metals - Offsite preparation for reuse (MT)

0.0

0.0

Metals - Offsite reclamation (MT)

0.0

0.0

Metals - Offsite recycling (MT)

0.0

0.0

Metals - Offsite material recovery operations (MT)

0.0

0.0

Metals - Other offsite recovery options (MT)

0.0

0.0

Total waste prevented (MT)1,266.0

2,462.5

Hazardous waste - Offsite incineration with energy recovery (MT)978.0

14,239.4

Hazardous waste - Offsite incineration without energy recovery (MT)2,062.0

867.6

Hazardous waste - Offsite landfilling (MT)4,210.0

3,133.7

Hazardous waste - Other offsite disposal operations (MT)105,287.0

56,392.3

Hazardous waste - Disposal (MT)112,537.0

74,633.1

Non-hazardous waste - Offsite incineration with energy recovery (MT)1,940.0

3,001.4

Non-hazardous waste - Offsite incineration without energy recovery (MT)1,875.0

1,013.0

Non-hazardous waste - Offsite landfilling (MT)24,986.0

22,878.8

Non-hazardous waste - Other offsite disposal operations (MT)36,384.0

54,350.0

Non-hazardous waste - Disposal (MT)65,185.0

81,243.2

E-waste - Offsite incineration with energy recovery (MT)

0.0

0.0

E-waste - Offsite incineration without energy recovery (MT)

0.0

0.0

E-waste - Offsite landfilling (MT)

0.0

0.0

E-waste - Other offsite disposal operations (MT)

0.0

0.0

E-waste - Disposal (MT)

15.0

12.9

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AppendicesNote 1 - Basis of presentation
The Statement and Notes on Waste have been prepared for the year from January 1, 2023 to
December 31, 2023 and for the year January 1, 2022 and December 31, 2022, corresponding

to the Company’s fiscal year.. We have prepared the Statement and Notes on Waste inaccordance with select GRI standards: GRI 306 Waste 2020, as further disclosed in Note 4.
Key terms used are defined in Note 5 and in the GRI Standards Glossary.

Note 2 – Reporting boundary
We present our waste volume from operations over which we, or one of our subsidiaries,

has the full authority to introduce and implement its operating policies. Minority-owned(add dash) joint ventures not operated by the Company are excluded from the reporting
boundary.

Note 3 – Use of estimates and estimation
uncertainties
We base our estimates and methodologies on historical experience, available informationand various other assumptions that we believe to be reasonable. Waste volume presented
are subject to measurement uncertainties resulting from limitations inherent in the natureand the methods used for determining such data. The selection of different but acceptablemeasurement techniques can result in materially different measurements. The precision ofdifferent measurement techniques may also vary.

Note 4 - Methodology of selected waste metrics
The volume (metric ton) and waste type is obtained from third party vendors using theCompany’s HSE data management system. Where data from third party vendors are notavailable for a certain location, we estimate the volume by extrapolating the square footageof the location and the actual volume for the waste type of a similar location. The selectionof different but acceptable measurement techniques can result in materially different
measurements. The precision of different measurement techniques may also vary.
MetricCriteria

Key performance indicators

Methodology

Waste generated

GRI 306-3• Total waste generated

Total waste generated = ∑ Hazardous waste generated, non-hazardous waste generated, e-waste generated, metals waste• Hazardous waste generated

generated• Non-hazardous waste generated• E-waste generated• Metal waste generated

Waste diverted

from disposal by

GRI 306-4

waste type

• Total waste recycled

Total waste diverted from disposal from Baker Hughes operations
through recycling• Hazardous waste recycled

Total waste diverted from disposal = ∑ Hazardous waste diverted• Non-hazardous waste generated

from disposal, non-hazardous waste diverted from disposal,• E-waste recycled

e-waste diverted from disposal, metals waste diverted from
disposal• Metal waste recycled

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PeoplePlanetPrinciples

AppendicesMetric

Criteria

Key performance indicators

Methodology

Waste diverted

GRI 306-4• Hazardous waste diverted from disposal by

Total waste diverted from disposal from Baker Hughes operations

from disposal
by recovery

recovery operation• Non-hazardous waste diverted from disposal

operation

by recovery operation• E-waste diverted from disposal by recovery
operation• Metal waste diverted from disposal byrecovery operation

Waste directed todisposal by waste

GRI 306-5• Total waste disposedfrom disposal, non-hazardous waste diverted from disposal,
e-waste diverted from disposal, metals waste diverted from
disposal

Each respective component of this calculation is broken downin categories of recovery of operations, preparation of reuse,reclamation, recycling and other recovery operations.

Total weight of waste directed to disposal in metric tons by waste
type• Hazardous waste disposed

type

Total waste diverted from disposal = ∑ Hazardous waste diverted

Total waste directed to disposal = ∑ Hazardous waste directed• Non-hazardous waste disposed

to disposal, non-hazardous waste directed to disposal, e-waste• E-waste disposed

directed to disposal, metal waste directed to disposal• Metal waste disposed

Waste directed

GRI 306-5

to disposal

by disposal• Hazardous waste disposed by disposal
operation• Non-hazardous waste disposed by disposal

operation

operation• E-waste disposed by disposal operation• Metal waste disposed by disposal operation

Total waste directed to disposal from Baker Hughes operations
Total waste directed to disposal = ∑ Hazardous waste directed

to disposal, non-hazardous waste directed to disposal, e-waste
directed to disposal, metals waste directed to disposal

Each respective component of this calculation is broken down in
categories of disposal operation categories: Incineration (withenergy recovery), Incineration (without energy recovery), landfillingand other disposal operations.

Waste prevented

GRI 306-4

Total waste that was prevented from waste
disposal by converting into products

The sum of total waste prevented equals the volume of material
that was converted from a waste to a product.

Note 5 - Glossary of terms
Term

Definition

Hazardous waste

Waste disposed that possesses any of the characteristics contained in Annex III of the Basel Convention or

Non-hazardous waste

All other waste not classified as hazardous, e-waste or metal waste

Electronic waste (e-waste)

Loosely discarded, surplus, obsolete, broken, electrical or electronic devices, such as computers, copiers, fax

Metal waste

Metals are materials that are hard, lustrous, malleable, ductile and sonorous, such as iron, copper,

Contents

that is considered to be hazardous by national legislation

machines, etc.

aluminum, calcium, magnesium, etc.

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AppendicesAppendix C: Stakeholder
Engagements
Stakeholder Engagement
Interpreting this section

Stakeholder engagement provides us the opportunity to gain the valuable insights

and impactful participation needed to be a global leader for a lower carbon future.
We identify organizations that align with our purpose, strategy, core values, corporate
commercial and sustainability strategies and policy positions and facilitate

collaboration to help advance our strategic goals and objectives. Our contributions
to associations, think tanks, consortiums and academic partnerships across ourbusinesses and geographies help shape the future of energy. To read more about thepolicies used to select our partners, please see our Stakeholder Engagement Policy.
We worked with several key organizations including:• American Fuel and Petrochemical• International Association of Oil and Gas• American Petroleum Institute• International Renewable Energy Agency• Ammonia Energy Association• Ipieca• Confindustria• Keystone Policy Center• European Geothermal Energy Council• Long Duration Energy Storage Council• Geothermal Rising• National Petroleum Council• Global Carbon Capture and Storage• Oil and Gas Climate Initiative

Manufacturers

Institute

Producers• Offshore Energies UK• Hydrogen Council• Resources for the Future• Hydrogen Europe• IEA Greenhouse Gas Research andDevelopment Program• The Nature Conservancy• United Nations Environmental Program• International Geothermal Association• World Cement Association• International Labor Organization• World Resources InstituteInia Oboigbato, Senior Finance Manager, IET

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AppendicesThis chart illustrates our systems and processes for engaging witha wide variety of internal and external stakeholder groups.
Stakeholder

Forms of engagement

Frequency

Example engagement

Customers

Global, regional and local industry

Our senior leaders and commercial

We have partnered with HIF Global, the world’s leading

Proprietary Company events andof customer events and meetings

capture carbon dioxide directly from the atmosphereevents, forums and conferences.

meetings. Partnerships and working
groups to advance best practices.

Investors

meetings and presentations. Outreachon a quarterly and annual basis,group, the Corporate Secretary’s Officeand Executive Compensation Team.

Hughes’ Mosaic DAC technology pilot units to accelerate
DAC deployment at commercial scale.

We inform our investors and analysts

program led by our Investor Relations

Please see our Investor Relations website for additional
information on engagements in 2023.

about our operations formallyas well as proactively engage inyear-round integrated outreach, tomonitor developments in corporate
governance and sustainability.

We engage with employees throughWe exchange ideas and feedback withforums and people leader engagement.

of communications channels weekly,

town hall meetings, interactive online
Thousands of employees belong to

Employee Resource Groups, many with

eFuels company, on the development of technology to(DAC). HIF Global and Baker Hughes intend to test Baker

across the globe.

Via public quarterly earnings calls,

annual shareholder meeting, executive

Employees

teams actively participate in hundreds

our employees across a wide array

Employee engagement on sustainability is outlined in the
People section.

monthly, quarterly and annually.

senior leader sponsors. Our CEO also

meets regularly with the Employee Pulse
Group.

Governments

Formal and informal bilateral meetings

Given the breadth and scope of our

We are participating in two important National Petroleum

government. Lobbying and otherwhich we operate, Baker Hughes senior

on Reducing Emissions of Greenhouse Gases from the US

with public officials at all levels of

direct engagement in compliance withapplicable laws and regulations.

industry and the global footprint inleaders across our operations engage

Council studies requested by the US Secretary of Energy

Natural Gas Supply Chain and Deployment of Low Carbon
Intensity Hydrogen Energy At-Scale. We are also proudwith all levels of government on ato have been appointed in 2023 to the Texas Hydrogen

regular basis.

Production Policy Council, an advisory council tasked withmaking recommendations to the Texas Legislature on

state oversight and regulation of hydrogen infrastructure.

Communities

Civic engagement through economic

We have ongoing dialogue withof commerce and related forums.

projects and planning for employee

development groups, chambers

Collaboration and social investments
where we operate and in support ofCommunity engagements are outlined in the People
section.

community partners on charitable
volunteerism.

broader society.

Policy groups andassociations

Membership participation across the

Our participation in industry groups

Resources for the Future (RFF) is an independent, nonprofit

public-private partnership activities

meetings, events and engagement

to improve environmental, energy and natural resource

globe. Working groups, committees andin industry groups and associations.

Leadership and committee positions that
extend and strengthen organizational

includes monthly, quarterly and annual
to advance best practices and policy
positions.

research institution in Washington, DC whose mission isdecisions through impartial economic research and policy
engagement. We participated in RFF research interviews
to help form and publish a report providing analysis andrecommendations on federal policy to assist in ensuring acapabilities.

just transition.

Universities,

Connections, collaborations andWe participate in multiple

Global CCS Institute is an international think tank whose

and non-business, industry, social andinstitutions and organizations on

and storage. We participated in and contributed to a CEO

institutions,partnerships on a variety of shared

governmental

environmental interests globally.

organizations

Contents

opportunities to collaborate withpublic policy, regulations, technology
roadmaps and a variety of research
projects.

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mission is to accelerate the deployment of carbon captureroundtable in Washington, DC with customers, governmentand stakeholders to discuss project challenges and policy
solutions on a global scale.

PeoplePlanetPrinciples

AppendicesPerformance Index

Mathew Pompa, RDD Tech, OFSE

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AppendicesIntroducing our
Performance Index
As an energy technology company, we demonstrate leadership by excelling insustainability performance. We are dedicated to enhancing how we track, measure andreport our sustainability data, aligning the best practices in the industry. Despite thecontinuously evolving guidance and standards for corporate sustainability reporting,Baker Hughes’ goal is to deliver investment-grade data. We report reliable, robust data
and are committed to provide transparency in our reported information, subjected tovalidation and internal audit processes.

Interpreting this section
This is a consolidated view of all performance metrics collected. This is organized by

our People, Planet and Principles framework, including a description of the performanceindicator and the 2023 reported data. This section also includes metrics that are being
retired this year.

Please note the color coding for external assurance levels as follows:
Light: The information was within the scope of limited assurance by KPMG for the respective
period, as described in the Independent Accountants’ Report within in this report, theCorporate Sustainability Report 2022 or the 2021 Corporate Responsibility Report.

Dark: The information was within the scope of reasonable assurance by KPMG for therespective period, as described in the Independent Accountants’ Report within this report,
the Corporate Sustainability Report 2022, or the 2021 Corporate Responsibility Report.

Ilaria Cabona, Project Engineer, IET |Michele Lauriola, Systems Engineering Manager, IET

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AppendicesPeople performance index1
MetricKey performance indicators

2021

2022

2023

Regular% of employees receiving regular performance and career development reviews

Not available

75.0%

68.4%

and career% of employees receiving regular performance and career development reviews by

46.0%

72.8%

65.1%

% of employees receiving regular performance and career development reviews by

64.0%

84.0%

81.8%

% of employees receiving regular performance and career development reviews by

44.0%

31.0%

26.9%

% of employees receiving regular performance and career development reviews by

Not available

100.0%

100.0%% of employees receiving regular performance and career development reviews by

Not available

Not available

92.1%% of employees receiving regular performance and career development reviews by

86.0%

95.8%

92.1%

% of employees receiving regular performance and career development reviews by

86.0%

95.8%

92.9%

% of employees receiving regular performance and career development reviews by

Not available

94.1%

90.5%

% of employees receiving regular performance and career development reviews by job

Not available

93.4%

88.1%

% of employees receiving regular performance and career development reviews by job

Not available

95.3%

91.6%

% of employees receiving regular performance and career development reviews by job

Not available

95.5%

56.5%

% of employees receiving regular performance and career development reviews by job

Not available

97.8%

95.0%

% of employees receiving regular performance and career development reviews by job

Not available

0.0%

1.5%

Employees# of employees participating in leadership development programs

393

527

401

programs# of employees participating in each leadership development program - ASPIRE

243

300

257

# of employees participating in each leadership development program - IMPACT

21

32

36

# of employees participating in each leadership development programs - CULTIVATE

129

191

102

# of employees participating in each leadership development program - ASCEND

Not available

4

6# of ASPIRE program participants that identify as women

124

155

116

# of IMPACT program participants that identify as women

9

16

16

performancegender - Mendevelopment
reviews

gender - Women

gender - Gender undeclared

gender - No gender selected

career band - Professional Band and above (PB+) including Leadership Training Band
(LTB)

career band - PB+ excluding LTB

career band - Senior Professional Band and above (SPB+)

career band - Executive Band and above (EB+)

function - Commercial

function - Enabling

function - Production

function - Technicalfunction - Otherin leadership

1

Percentages are rounded to one decimal place. If a percentage shows as 0.0 it means that it is less than 0.05 percent. Not available represents data not reported in the citedreporting year.

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AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Community

Total amount of charitable pledges and contributions (USD)$45,215,173$75,272,787$63,694,410

Amount of employee-matched contributions made by the Baker Hughes Foundation$669,215$756,121$855,067

Amount of company and foundation financial pledges and contributions (USD)$2,578,208$1,992,500$2,427,500

Amount of company in-kind contributions (USD)$41,967,750$72,524,166$60,411,843# of volunteer service hours

16,90527,18139,064% of US employees who identify as people of color

35.8%

36.1%

38.3%

% of US employees who identify as people of color by gender - Men

Not available

75.4%

76.6%

% of US employees who identify as people of color by gender - Women

25.0 %

24.6%

23.4%

% of US employees who identify as people of color by gender - Gender undeclared

Not available

0.0%

0.0%

% of US employees who identify as people of color by gender - No gender selected

Not available

0.0%

0.0%

% of US employees who identify as people of color by seniority - SPB+

31.6 %

32.1%

33.2%

% of US employees who identify as people of color by seniority - EB+

Not available

28.6%

28.8%

Women in STEM

% of women in science, technology, engineering and mathematics (STEM) roles

11.2 %

12.1%

14.2%

Employee attrition# of total employee attrition

Not available

6,609

5,812

# of total employee attrition by gender - Men

Not available

5,291

4,512

# of total employee attrition by gender - Women

Not available

1,274

1,213

# of total employee attrition by gender - Gender undeclared

Not available

4482# of total employee attrition by gender - No gender selected

Not available

Not available

5% of total employee attrition (rate)

12.0%

12.0%

10.2%

% of total employee attrition (rate) by gender - Men

Not available

12.0%

9.9%

% of total employee attrition (rate) by gender - Women

Not available

12.1%

11.1%

% of total employee attrition (rate) by gender - Gender undeclared

Not available

16.5%

191.4%2% of total employee attrition (rate) by gender - No gender selected

Not available

0.0%

85.7%

# of total employee attrition by region - Asia Pacific (APAC)

Not available

647

643

# of total employee attrition by region - Russia and Commonwealth of Independent

Not available

1,019

105

# of total employee attrition by region - Middle East, North Africa, Turkey and India

Not available

909

865

# of total employee attrition by region - North America (NAM)

Not available

1,990

2,019

# of total employee attrition by region - Latin America (LATAM)

Not available

505

602

# of total employee attrition by region - Sub-Saharan Africa (SSA)

Not available

67

78

Contributions(USD)

US employees people of color

roles

States (RCIS)(MENATI)

2

The annualized attrition rate of this KPI can be heavily impacted by minor changes due to the relatively small population of total employees that are gender undeclared. This

population can be referenced in the KPI ‘# of total employees by gender - Gender undeclared’ as reported in the performance index under the Employee Counts metric.

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
169

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Employee attrition# of total employee attrition by region - Europe

Not available

1,472

1,500

% of total employee attrition (rate) by region - APAC

Not available

9.4%

9.0%

% of total employee attrition (rate) by region - RCIS

Not available

34.9%

16.1%

% of total employee attrition (rate) by region - MENATI

Not available

9.9%

8.9%

% of total employee attrition (rate) by region - NAM

Not available

15.0%

14.7%

% of total employee attrition (rate) by region - LATAM

Not available

9.1%

9.6%

% of total employee attrition (rate) by region - SSA

Not available

7.1%

7.1%

% of total employee attrition (rate) by region - Europe

Not available

9.1%

8.3%

# of total employee attrition by age group - under 30

Not available

1,088

905

# of total employee attrition by age group - 30-50

Not available

4,247

3,608

# of total employee attrition by age group - over 50

Not available

1,274

1,299

# of total employee attrition by age group - No age selected

Not available

00% of total employee attrition (rate) by age group - under 30

Not available

19.1%

14.4%

% of total employee attrition (rate) by age group - 30-50

Not available

11.1%

9.4%

% of total employee attrition (rate) by age group - over 50

Not available

11.6%

10.8%

% of total employee attrition (rate) by age group - No age selected

Not available

0.0%

0.0%

# of voluntary attrition

4,371

4,714

3,992

# of voluntary attrition by gender - Men

3,558

3,739

3,162

# of voluntary attrition by gender - Women

812

974

823

# of voluntary attrition by gender - Gender undeclared

Not available

1

5# of voluntary attrition by gender - No gender selected

Not available

02% of voluntary attrition (rate)

8.1%

8.6%

7.0%

% of voluntary attrition (rate) by gender - Men

8.1%

8.5%

6.9%

% of voluntary attrition (rate) by gender - Women

8.1%

9.3%

7.5%

% of voluntary attrition (rate) by gender - Gender undeclared

Not available

0.4%

11.7%

% of voluntary attrition (rate) by gender - No gender selected

Not available

0.0%

34.3%

# of voluntary attrition by region - APAC

Not available

556

469

# of voluntary attrition by region - RCIS

Not available

391

54

# of voluntary attrition by region - MENATI

Not available

657

656

# of voluntary attrition by region - NAM

Not available

1,608

1,301

continued

Voluntary attrition

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
170

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Voluntary attrition# of voluntary attrition by region - LATAM

Not available

363

378

# of voluntary attrition by region - SSA

Not available

49

61# of voluntary attrition by region - Europe

Not available

1,090

1,073

% of voluntary attrition (rate) by region - APAC

Not available

8.1%

6.6%

% of voluntary attrition (rate) by region - RCIS

Not available

13.4%

8.3%

% of voluntary attrition (rate) by region - MENATI

Not available

7.2%

6.7%

% of voluntary attrition (rate) by region - NAM

Not available

12.1%

9.5%

% of voluntary attrition (rate) by region - LATAM

Not available

6.5%

6.0%

% of voluntary attrition (rate) by region - SSA

Not available

5.2%

5.5%

% of voluntary attrition (rate) by region - Europe

Not available

6.7%

5.9%

# of voluntary attrition by age group - under 30

Not available

858

724

# of voluntary attrition by age group - 30-50

Not available

3,082

2,558

# of voluntary attrition by age group - over 50

Not available

774

710

# of voluntary attrition by age group - No age selected

Not available

00% of voluntary attrition (rate) by age group - under 30

Not available

15.1%

11.5%

% of voluntary attrition (rate) by age group - 30-50

Not available

8.0%

6.7%

% of voluntary attrition (rate) by age group - over 50

Not available

7.1%

5.9%

% of voluntary attrition (rate) by age group - No age selected

Not available

0.0%

0.0%

# of internal candidates hired

Not available

4,983

4,620

# of internal candidates hired by gender - Men

Not available

3,734

3,491

# of internal candidates hired by gender - Women

Not available

1,247

1,128

# of internal candidates hired by gender - Gender undeclared

Not available

1

1# of internal candidates hired by gender - No gender selected

Not available

10# of internal candidates hired by region - APAC

Not available

478

363

# of internal candidates hired by region - RCIS

Not available

84

31# of internal candidates hired by region - MENATI

Not available

781

634

# of internal candidates hired by region - NAM

Not available

1,615

1,346

# of internal candidates hired by region - LATAM

Not available

428

514

# of internal candidates hired by region - SSA

Not available

63

55# of internal candidates hired by region - Europe

Not available

1,534

1,677

# of internal candidates hired by age group - under 30

Not available

807

758

continued

New candidates
hiredContents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
171

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

New candidates# of internal candidates hired by age group - 30-50

Not available

3,702

3,367

# of internal candidates hired by age group - over 50

Not available

474

495

# of internal candidates hired by age group - No age selected

Not available

Not available

0# of external candidates hired

6,516

10,733

10,171# of external candidates hired by gender - Men

4,790

7,182

7,793

# of external candidates hired by gender - Women

1,726

2,377

2,333

# of external candidates hired by gender - Gender undeclared

Not available

1,174

45

# of external candidates hired by gender - No gender selected

Not available

Not available

0# of external candidates hired by region - APAC

Not available

1,166

1,022

# of external candidates hired by region - RCIS

Not available

247

94

# of external candidates hired by region - MENATI

Not available

1,707

1,697

# of external candidates hired by region - NAM

Not available

3,157

1,994

# of external candidates hired by region - LATAM

Not available

1,437

1,619

# of external candidates hired by region - SSA

Not available

189

278

# of external candidates hired by region - Europe

Not available

2,830

3,467

# of external candidates hired by age group - under 30

Not available

3,515

4,007

# of external candidates hired by age group - 30-50

Not available

6,353

5,224

# of external candidates hired by age group - over 50

Not available

865

940

# of external candidates hired by age group - No age selected

Not available

00# of total employees

53,99655,23557,570# of total employees by region - APAC

Not available

7,081

7,199

# of total employees by region - RCIS

Not available

681

636

# of total employees by region - MENATI

Not available

9,486

9,935

# of total employees by region - NAM

Not available

14,08013,566# of total employees by region - LATAM

Not available

5,828

6,421

# of total employees by region - SSA

Not available

1,006

1,152

# of total employees by region - Europe

Not available

17,073

18,661# of total full time employees

Not available

54,49056,785# of total full time employees by region - APAC

Not available

7,026

7,124

# of total full time employees by region - RCIS

Not available

679

635

# of total full time employees by region - MENATI

Not available

9,475

9,911

hired continued

Employee counts

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
172

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Employee counts# of total full time employees by region - NAM

Not available

14,046

13,538# of total full time employees by region - LATAM

Not available

5,745

6,298

# of total full time employees by region - SSA

Not available

997

1,150

# of total full time employees by region - Europe

Not available

16,522

18,129# of total part time employees

Not available

745

785

# of total part time employees by region - APAC

Not available

55

75# of total part time employees by region - RCIS

Not available

2

1# of total part time employees by region - MENATI

Not available

1124# of total part time employees by region - NAM

Not available

34

28# of total part time employees by region - LATAM

Not available

83

123

# of total part time employees by region - SSA

Not available

92# of total part time employees by region - Europe

Not available

551

532

# of total employees by gender - Men

Not available

43,535

46,343# of total employees by gender - Women

Not available

10,554

11,200# of total employees by gender - Gender undeclared

Not available

1,140

26

# of total employees by gender - No gender selected

Not available

6

1# of total full time employees by gender - Men

Not available

43,10745,903# of total full time employees by gender - Women

Not available

10,23810,855# of total full time employees by gender - Gender undeclared

Not available

1,139

26

# of total full time employees by gender - No gender selected

Not available

6

1# of total part time employees by gender - Men

Not available

428

440

# of total part time employees by gender - Women

Not available

316

345

# of total part time employees by gender - Gender undeclared

Not available

10# of total part time employees by gender - No gender selected

Not available

00# of total employees by age group - under 30

Not available

5,606

6,529

# of total employees by age group - 30-50

Not available

38,352

38,675# of total employees by age group - over 50

Not available

11,274

12,365# of total employees by age group - No age selected

Not available

3

1# of total SPB+ employees

Not available

8,944

8,959

# of total EB+ employees

Not available

639

590

# of total employees by job function - Commercial

Not available

4,968

4,900

continued

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
173

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Employee counts# of total employees by job function - Enabling

Not available

6,583

6,308

# of total employees by job function - Production

Not available

32,11233,445# of total employees by job function - TechnicalNot available

10,38910,898# of total employees by job function - Other

Not available

1,183

2,019

# of employees by generation group - Greatest

Not available

00# of employees by generation group - Silent

Not available

87# of employees by generation group - Boomers

Not available

4,117

3,775

# of employees by generation group - Generation X

Not available

20,092

20,367# of employees by generation group - Generation Y

Not available

28,311

29,164# of employees by generation group - Generation Z

Not available

2,704

4,255

# of employees by generation group - No generation selected

Not available

3

2

continued

Rezi Aliaj, Chemical Engineer, OFSE

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
174

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Employees by% of employees by gender - Men

Not available

78.8%

80.5%

% of employees by gender - Women

Not available

19.1%

19.5%

% of employees by gender - Gender Undeclared

Not available

2.1%

0.1%

% of employees by gender - No gender selected

Not available

0.0%

0.0%

% of employees by gender for each job function - Commercial and Men

Not available

75.6%

75.4%

% of employees by gender for each job function - Enabling and Men

Not available

49.0%

48.8%

% of employees by gender for each job function - Production and Men

Not available

88.2%

87.8%

% of employees by gender for each job function - Technical and Men

Not available

78.7%

77.7%

% of employees by gender for each job function - Other and Men

Not available

4.2%

85.7%

% of employees by gender for each job function - Commercial and Women

Not available

24.4%

24.5%

% of employees by gender for each job function - Enabling and Women

Not available

51.0%

51.1%

% of employees by gender for each job function - Production and Women

Not available

11.7%

12.2%

% of employees by gender for each job function - Technical and Women

Not available

21.3%

22.3%

% of employees by gender for each job function - Other and Women

Not available

0.5%

13.4%

% of employees by gender for each job function - Commercial and Gender Undeclared

Not available

0.0%

0.0%

% of employees by gender for each job function - Enabling and Gender Undeclared

Not available

0.0%

0.0%

% of employees by gender for each job function - Production and Gender Undeclared

Not available

0.0%

0.0%

% of employees by gender for each job function - Technical and Gender Undeclared

Not available

0.0%

0.0%

% of employees by gender for each job function - Other and Gender Undeclared

Not available

95.3%

0.9%

% of employees by gender for each job function - Commercial and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each job function - Enabling and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each job function - Production and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each job function - Technical and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each job function - Other and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each seniority - SPB+ and Men

Not available

81.4%

81.6%

% of employees by gender for each seniority - SPB+ and Women

18.1%

18.6%

18.4%

% of employees by gender for each seniority - SPB+ and Gender undeclared

Not available

0.0%

0.0%

% of employees by gender for each seniority - SPB+ and No gender selected

Not available

0.0%

0.0%

% of employees by gender for each seniority - EB+ and Men

Not available

75.6%

76.4%

% of employees by gender for each seniority - EB+ and Women

Not available

24.4%

23.6%

% of employees by gender for each seniority - EB+ and Gender undeclared

Not available

0.0%

0.0%

% of employees by gender for each seniority - EB+ and No gender selected

Not available

0.0%

0.0%

genderContents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
175

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued

MetricKey performance indicators

2021

2022

2023

Employees by% of employees that are people managers by gender - Men

Not available

79.2%

80.9%

% of employees that are people managers by gender - Women

Not available

18.8%

19.0%

% of employees that are people managers by gender - Gender undeclared

Not available

2.0%

0.0%

% of employees that are people managers by gender - No gender selected

Not available

0.0%

0.0%

% of women-identifying employees on Board of Directors

Not available

33.0%

33.0%

% of employees by age group - under 30

10.2%

10.2%

11.3%

% of employees by age group - 30-50

70.4%

69.4%

67.2%

% of employees by age group - over 50

19.4 %

20.4%

21.5%

% of employees by age group - No age selected

Not available

0.0%

0.0%

% of employees by age group for each job function - under 30 and Commercial

Not available

6.1%

6.0%

% of employees by age group for each job function - under 30 and Enabling

Not available

10.9%

10.4%

% of employees by age group for each job function - under 30 and Production

Not available

11.0%

11.9%

% of employees by age group for each job function - under 30 and TechnicalNot available

10.1%

12.0%

% of employees by age group for each job function - under 30 and Other

Not available

0.9%

14.7%

% of employees by age group for each job function - 30-50 and Commercial

Not available

68.8%

67.7%

% of employees by age group for each job function - 30-50 and Enabling

Not available

69.4%

69.3%

% of employees by age group for each job function - 30-50 and Production

Not available

68.9%

67.6%

% of employees by age group for each job function - 30-50 and TechnicalNot available

68.2%

66.5%

% of employees by age group for each job function - 30-50 and Other

Not available

97.6%

56.6%

% of employees by age group for each job function - over 50 and Commercial

Not available

25.2%

26.3%

% of employees by age group for each job function - over 50 and Enabling

Not available

19.7%

20.3%

% of employees by age group for each job function - over 50 and Production

Not available

20.1%

20.5%

% of employees by age group for each job function - over 50 and TechnicalNot available

21.7%

21.5%

% of employees by age group for each job function - over 50 and Other

Not available

1.5%

28.7%

% of employees by age group for each job function - Age group blank and Commercial

Not available

0.0%

0.0%

% of employees by age group for each job function - Age group blank and Enabling

Not available

0.0%

0.0%

% of employees by age group for each job function - Age group blank and Production

Not available

0.0%

0.0%

% of employees by age group for each job function - Age group blank and TechnicalNot available

0.0%

0.0%

% of employees by age group for each job function - Age group blank and Other

Not available

0.0%

0.0%

% of employees by age group for each seniority - under 30 and SPB+

Not available

0.3%

0.3%

% of employees by age group for each seniority - under 30 and EB+

Not available

0.0%

0.0%

% of employees by age group for each seniority - 30-50 and SPB+

Not available

67.4%

66.0%

% of employees by age group for each seniority - 30-50 and EB+

Not available

65.7%

65.3%

gender continued

Employees by age
group

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
176

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued
MetricKey performance indicators

2021

2022

2023

Employees by age% of employees by age group for each seniority - over 50 and SPB+

Not available

32.3%

33.7%

% of employees by age group for each seniority - over 50 and EB+

Not available

34.3%

34.8%

% of employees by age group for each seniority -No age selected and SPB+

Not available

0.0%

0.0%

% of employees by age group for each seniority - No age selected and EB+

Not available

0.0%

0.0%

# of employees entitled to parental leave

Not available

50,28354,518# of employees entitled to parental leave by gender - Men

Not available

39,82443,561# of employees entitled to parental leave by gender - Women

Not available

10,44010,950# of employees entitled to parental leave by gender - Gender Undeclared

Not available

138# of employees entitled to parental leave by gender - No gender selected

Not available

6

1# of employees that took parental leave

Not available

300

805

# of employees that took parental leave by gender - Men

Not available

210

585

# of employees that took parental leave by gender - Women

Not available

90

218

# of employees that took parental leave by gender - Gender Undeclared

Not available

02# of employees that took parental leave by gender - No gender selected

Not available

00# of employees that returned from leave in the reporting period following leave

Not available

237

705

# of employees that returned from leave in the reporting period following leave by gender

Not available

160

543

# of employees that returned from leave in the reporting period following leave by gender

Not available

76

161

# of employees that returned from leave in the reporting period following leave by gender

Not available

01# of employees that returned from leave in the reporting period following leave by gender

Not available

10

Employee# of employees enrolled in at least one employee resource group

7,163

8,099

9,085

membership% of employees enrolled in at least one employee resource group

Not available

14.4%

15.5%

Employees by% of employees by generation group - Greatest

Not available

0.0%

0.0%

% of employees by generation group - Silent

Not available

0.0%

0.0%

% of employees by generation group - Boomers

Not available

7.5%

6.6%

% of employees by generation group - Generation X

Not available

36.4%

35.4%

% of employees by generation group - Generation Y

Not available

51.3%

50.7%

% of employees by generation group - Generation Z

Not available

4.9%

7.4%

% of employees by generation group - Generation left blank

Not available

0.0%

0.0%

# of employees working outside the United States

Not available

42,44245,398# of countries with employees

90

89

88

# of nationalities represented by employees

Not available

157

157

group continued

Parental leave3- Men- Women- Gender Undeclared- No gender selectedresource group

generation groupCountry

representation

3

Parental leave data in 2022 is representative of the United States population only. Parental leave data in 2023 includes additional countries such as Canada, Germany, Malaysia,

Qatar, Saudi Arabia, United Kingdom and the United States.

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
177

PeoplePlanetPrinciples

AppendicesPeople Performance Index continued
MetricKey performance indicators

2021

2022

2023

Average hours of

Average hours of training per employee

17

37

22

per employee

Average hours of training per employee by gender - Men

18

39

23

Average hours of training per employee by gender - Women

13

30

19

Average hours of training per employee by gender - Gender undeclared

11

6

8

Average hours of training per employee by gender - No gender selected

Not available

Not available

8

Average hours of training per employee by career band - PB+ including LTB

Not available

Not available

17

Average hours of training per employee by career band - PB+ excluding LTB

12

24

16

Average hours of training per employee by career band - SPB+

10

17

14

Average hours of training per employee by career band - EB+

Not available

12

16

Average hours of training per employee by operating segment - Industrial and Energy

Not available

18

16

Average hours of training per employee by operating segment - Oilfield Services and

Not available

51

26

Average hours of training per employee by operating segment - Headquarters

Not available

18

15

Average hours of training per employee by job function - Commercial

Not available

16

13

Average hours of training per employee by job function - Enabling

Not available

20

15

Average hours of training per employee by job function - Production

Not available

51

28

Average hours of training per employee by job function - TechnicalNot available

18

15

Average hours of training per employee by job function - Other

Not available

5

6

Local and diverseAmount spent (USD) with diverse suppliers and small businesses Tier 14

Not available

Not available$378,661,639

suppliers

Amount spent (USD) with diverse suppliers and small businesses Tier 2

Not available

Not available$31,090,700

Amount spent (USD) with diverse suppliers and small businesses Total

Not available

Not available$409,752,339

training per year

Technology

Equipment

spend with

4

Data disclosed in prior reports followed different methodology and therefore not included in 2023 Performance Index.

Contents

Letters

Sustainability Report 2023

Who we are

By the Numbers

Sustainability
178

PeoplePlanetPrinciples

AppendicesRetired People metrics and key
performance indicators
In conjunction with our commitment to reporting reliable investor-grade data, we are

simultaneously committed to providing transparency in what we disclose and how we decide to
retire metrics and key performance indicators (KPIs) that are no longer in line with the changing

regulatory landscape. We conduct a thorough review following documented processes, requiring
the approval of our Chief Sustainability Officer to determine if and when to retire metrics or KPIs.
The below denotes the metrics retired as of this cycle and the reasoning.

MetricKey performance indicators

Reasoning

Professional# of employees completing professional development planning with their

Through matured reporting capabilities, the ‘Regulardevelopment planning

manager

performance and career development reviews’

metric more closely aligns to GRI. Retiring metric aswith manager

not aligned to GRI requirements.

Regular performanceand careerdevelopment review% of PB+ employees receiving regular performance and careerdevelopment reviews by gender - Men% of PB+ employees receiving regular performance and careerdevelopment reviews by gender - Women

KPIs not aligned to GRI requirement therefore retiring
to focus on streamlined reporting. The ‘Regularperformance and career development reviews’
metric reported in 2023 represent all effective
employees to align to GRI requirements.

% of PB+ employees receiving regular performance and careerdevelopment reviews by gender - Gender undeclared% of PB+ employees receiving regular performance and careerdevelopment reviews by gender - No gender selected

Field Service Engineers, IET

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By the Numbers

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PeoplePlanetPrinciples

AppendicesPlanet performance index
MetricKey performance indicators

2019

20225

2023

Greenhouse gas

Reduction in scope 1 and scope 2 GHG emissions compared to 2019 base year (MT CO2e)

Base year

217,251.0

226,574.0

Total scope 1 emissions (MT CO2e)

501,791.1

376,172.5

383,096.1

Scope 1 - Facilities emissions (MT CO2e)

162,708.8

111,871.5

107,084.7

Scope 1 - Field emissions (MT CO2e)197,666.4

172,058.1

183,301.6

Scope 1 - Fleet emissions (MT CO2e)

141,416.0

92,242.9

92,709.7

Total scope 2 indirect emissions - Market based (MT CO2e)299,296.1

193,933.4

191,417.1

Total scope 2 indirect emissions - Location based (MT CO2e)

307,082.4

210,902.1

217,941.0

Total reported scope 3 emissions (MT CO2e)

236,832,567

252,414,204

433,728,176

Scope 3 category 1 - Purchased goods and services

4,587,993

5,718,784

6,368,267

Scope 3 category 2 - Capital goods

167,703

233,574

147,120

Scope 3 category 3 - Fuel- and energy-related activities (not included in scope 1 or scope 2)

186,887

136,224

143,841

Scope 3 category 4 - Upstream transportation and distribution

670,580

317,937

331,325

Scope 3 category 5 - Waste generated in operations

136,287

79,284

108,781

Scope 3 category 6 - Business travel

102,015

56,454

68,967

Scope 3 category 7 - Employee commuting

186,849

101,404

152,870

Scope 3 category 9 - Downstream transportation and distribution

482,549

359,773

260,844

Scope 3 category 11 - Use of sold products

230,203,237

244,794,528

425,927,694

Scope 3 category 15 - Investments

108,467

616,242

218,467

Scope 1 per $ revenue

0.000021

0.000018

0.000015

Scope 2 per $ revenue

0.00001256

0.000009

0.00000750

Scope 3 per $ revenue

0.00993500

0.01193100

0.01700500

Total per $ revenue

0.00996869

0.01195804

0.01702747

Scope 1 - CO2

499,534.6

370,644.0

378,868.4

Scope 1 - CH4

388.0

4,613.0

3,295.8

Scope 1 - N2O

1,509.6

908.0

931.9

Scope 1 - HFCs (only HFC-134a)

358.8

7.0

0.0

Scope 1 - PFCs

0.0

0.0

0.0

Scope 1 - NF3

0.0

0.0

0.0

Scope 1 - SF6

0.0

0.0

0.0

emissions52022 emissions are presented as previously reported for the year ended December 31, 2022, and have not been recalculated to be consistent with the 2023 and 2019 base year

presentation in the Statement of Greenhouse Gas CO2e Emissions on pages 148-159.

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PeoplePlanetPrinciples

AppendicesPlanet Performance Index continued
MetricKey performance indicators

2019

20225

2023

Greenhouse

Scope 2, Location Based- CO2

305,737.5

209,987.0

216,967.2

continued

Scope 2, Location Based- CH4

452.9

326.0

328.2

Scope 2, Location Based- N2O

892.1

589.0

645.6

Scope 2, Location Based- HFCs

Not applicableNot applicableNot applicable

Scope 2, Location Based- PFCs

Not applicableNot applicableNot applicable

Scope 2, Location Based - NF3

Not applicableNot applicableNot applicable

Scope 2, Location Based- SF6

Not applicableNot applicableNot applicable

Scope 2, Market Based- CO2

298,160.2

193,239.0

190,720.0

Scope 2, Market Based- CH4

376.5

233.0

219.5

Scope 2, Market Based- N2O

759.4

461.0

477.7

Scope 2, Market Based- HFCs

Not applicableNot applicableNot applicable

Scope 2, Market Based- PFCs

Not applicableNot applicableNot applicable

Scope 2, Market Based - NF3

Not applicableNot applicableNot applicable

Scope 2, Market Based- SF6

Not applicableNot applicableNot applicablegas emissions

6

MetricKey performance indicators

2022

2023

Energy% of electricity from zero-emission sources

26.0%

29.8%

% of electricity from renewable sources

22.7%

28.1%

Total electricity (MWh)604,093.0

585,164.5

Renewable electricity (MWh)137,327.0

164,597.2

Non-renewable electricity (MWh)466,766.0

420,567.3

Total fuels (MWh)1,609,878.8

1,633,706.4

Diesel/Distillate (MWh)875,343.5

915,945.9

Natural gas (MWh)472,915.4

449,519.8

Gasoline/Petrol (MWh)252,227.3

261,206.3

Propane (MWh)6,797.2

5,768.6

Other fuels (MWh)2,595.4

1,265.9

Total purchased heating, cooling and steam (MWh)Not available

8,830.8

Purchased heating (MWh)Not available

0.0

Purchased cooling (MWh)Not available

118.0

Purchased steam (MWh)Not available

8,712.8

Total energy consumption within the organization (MWh)6

2,213,971.8

2,227,701.7

Energy intensity (MWh/ $ of revenue)

0.0001050.000087# of HSE energy assessments completed

152

76

Prior to 2023, the metric “Total energy consumption without the organization (MWh) was reported as “Total energy (MWh).”

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MetricKey performance indicators

2022

2023

Energy transition

Number of product lifecycle assessments completed

43

313

and innovation

Number of product lifecycle assessments in progress

56

4

SpillsSignificant spills (barrels)

827

535

Oil spills (barrels)

37

14

Fuel spills (barrels)

3

1

Waste spills (barrels)

10

Chemical spills (barrels)

378

110

Hydrocarbon spills in the Arctic (barrels)00Number and aggregate spill volume impacting shorelines with ESI rankings 8-9 (barrels)00

Hydrocarbon spill volume recovered (barrels)

37

10

Number of IUCN Red List Species

392

433

Number of species - Least concern

251

275

Number of species - Near threatened

14

20

Number of species - Vulnerable

78

77

Number of species - Endangered38

45

Number of species - Critically endangered11

16

Production, imports and exports of ozone depleting substances (MT CFC-11 equivalent)00Number of HSE water assessments completed

Not available

17

Water withdrawn (ML)3,214.0

2,984.5

Water withdrawn from surface water (ML)

0.1

0.0

Water withdrawn from groundwater (ML)

618.0

646.6

Water withdrawn from municipal water supply (ML)2,596.0

2,337.8

Water withdrawn from seawater (ML)

0.2

0.0

Water consumed (ML)

559.0

654.7

Water discharged (ML)2,655.0

2,329.7

Water discharged to surface water (ML)

55.0

41.6

Water discharged to groundwater (ML)

45.0

34.5

Water discharged to municipal water supply (ML)2,536.0

2,239.1

Water discharged to seawater (ML)

19.0

14.5

Water withdrawn in water-stressed areas (ML)

410.0

409.2

Water withdrawn from surface water in water-stressed areas (ML)

0.1

0.0

Water withdrawn from groundwater in water-stressed areas (ML)

152.0

137.3

Water withdrawn from municipal water supply in water-stressed areas (ML)

258.0

271.9

business impacts

Biodiversity

Water

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PeoplePlanetPrinciples

AppendicesPlanet Performance Index continued

MetricKey performance indicators

2022

2023

Water continued

Water withdrawn from seawater in water-stressed areas (ML)

0.0

0.0

Water consumed in water-stressed areas (ML)

13.0

23.4

Water discharged in water-stressed areas (ML)

397.0

385.7

Water discharged to surface water in water-stressed areas (ML)

27.0

15.2

Water discharged to groundwater in water-stressed areas (ML)

15.0

8.1

Water discharged to municipal water supply in water-stressed areas (ML)

349.0

353.3

Water discharged to seawater in water-stressed areas (ML)

6.0

9.1

Waste generated (MT)235,403.0

216,808.8

Waste generated - Hazardous waste (MT)120,298.0

80,293.3

Waste generated - Non-Hazardous waste (MT)87,434.0

106,844.4

Waste generated - E-waste (MT)

188.0

124.2

Waste generated - Metals (MT)27,483.0

29,547.0

Waste recycled (MT)57,666.0

60,919.7

Waste recycled - Hazardous waste (MT)7,761.0

5,660.2

Waste recycled - Non-Hazardous waste (MT)22,249.0

25,601.2

Waste recycled - E-waste (MT)

173.0

111.3

Waste recycled - Metals (MT)27,483.0

29,547.0

Waste disposed (MT)177,737.0

155,889.1

Waste disposed - Hazardous waste (MT)112,537.0

74,633.1

Waste disposed - Non-Hazardous waste (MT)65,185.0

81,243.2

Waste disposed - E-waste (MT)

15.0

12.9

Waste disposed - Metals (MT)

0.0

0.0

Hazardous waste - Offsite preparation for reuse (MT)

629.0

559.0

Hazardous waste - Offsite reclamation (MT)

3.0

4.3

Hazardous waste - Offsite recycling (MT)

0.0

0.0

Hazardous waste - Offsite material recovery operations (MT)

0.0

0.0

Hazardous waste - Other offsite recovery options (MT)7,129.0

5,096.9

Non-hazardous waste - Offsite preparation for reuse (MT)801.0

1,154.6

Non-hazardous waste - Offsite reclamation (MT)

221.0

349.2

Non-hazardous waste - Offsite recycling (MT)

0.0

0.0

Non-hazardous waste - Offsite material recovery operations (MT)

0.0

0.0

Non-hazardous waste - Other offsite recovery options (MT)21,227.0

24,097.4

Waste

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PeoplePlanetPrinciples
167.0

AppendicesPlanet Performance Index continued

MetricKey performance indicators

2022

2023

Waste

E-waste - Offsite preparation for reuse (MT)

6.0

1.8

E-waste - Offsite reclamation (MT)

0.0

0.0

E-waste - Offsite recycling (MT)

167.0

109.5

E-waste - Offsite material recovery operations (MT)

0.0

0.0

E-waste - Other offsite recovery options (MT)

0.0

0.0

Metals - Offsite preparation for reuse (MT)

0.0

0.0

Metals - Offsite reclamation (MT)

0.0

0.0

Metals - Offsite recycling (MT)

0.0

0.0

Metals - Offsite material recovery operations (MT)27,483.0

29,547.0

Metals - Other offsite recovery options (MT)

0.0

0.0

Total waste prevented (MT)1,266.0

2,462.5

Hazardous waste - Offsite incineration with energy recovery (MT)978.0

14,239.4

Hazardous waste - Offsite incineration without energy recovery (MT)2,062.0

867.6

Hazardous waste - Offsite landfilling (MT)4,210.0

3,133.7

Hazardous waste - Other offsite disposal operations (MT)105,287.0

56,392.3

Hazardous waste - Disposal (MT)112,537.0

74,633.1

Non-hazardous waste - Offsite incineration with energy recovery (MT)1,940.0

3,001.4

Non-hazardous waste - Offsite incineration without energy recovery (MT)1,875.0

1,013.0

Non-hazardous waste - Offsite landfilling (MT)24,986.0

22,878.8

Non-hazardous waste - Other offsite disposal operations (MT)36,384.0

54,350.0

Non-hazardous waste - Disposal (MT)65,185.0

81,243.2

E-waste - Offsite incineration with energy recovery (MT)

0.0

0.0

E-waste - Offsite incineration without energy recovery (MT)

0.0

0.0

E-waste - Offsite landfilling (MT)

0.0

0.0

E-waste - Other offsite disposal operations (MT)

0.0

0.0

E-waste - Disposal (MT)

15.0

12.9

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By the Numbers

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PeoplePlanetPrinciples

AppendicesPrinciples performance index
MetricKey performance indicators

2021

2022

2023

Ethics and# of employees who completed the annual Code of Conduct training, including training

50,16153,84656,745% of employees who completed the annual Code of Conduct training

92.0%

96.7%

97.5%

% of governance body members who have received training on anti-corruption

90.0%

99.1%

99.0%

% of operations assessed for risks related to corruption

100%

100%

100%

# of operations assessed for risks related to corruption

4

4

2

% of security personnel trained in human rights policies or procedures

100%

100%

100%

# of identified leaks, thefts or losses of customer data

0

0

3

# of substantiated complaints received concerning breaches of customer privacy

0

0

3

# of certified Supplier Social Responsibility Program (SSRP) auditors

93

84

99

# of SSRP audits

545

408

461

# of SSRP audit red flag findings

1,696

1,343

1,707

% of audits that were re-audits

82.0%

81.0%

80.0%

% of audit red flag findings closed within 90 days

95.0%

95.0%

95.0%

# of suppliers rejected due to SSRP policy

52

23

25

% of local spend

77.0%

81.0%

80.0%

Local spend (billion USD)

$7.7B

$13.1B$14.8B# of Health, Safety and Environment (HSE) leadership engagements

66,71664,55070,667# of HSE observations

1,051,723

1,071,845

1,442,048# of Perfect HSE days

204

217

199

Average hours HSE trainings - employees

Not available

5.3

6.2

Average hours HSE trainings - contractors

Not available

0.6

0.9

# of near misses

1,075

1,017

1,051

Total recordable incident rate

0.28

0.22

0.28

Days away from work rate

0.13

0.11

0.15

# of days away from work cases

97

86

119

# of employee work-related fatalities

0

1

1

# of contractor work-related fatalities

0

0

0

# of total recordable illness

37

5

16

# of musculoskeletal disorders

Not available

2

5# of diseases caused by physical agents

Not available

32# of vehicle incidents

Not available

213

218

# of sites certified to ISO 14001:2015

99

87

87

PlanetPrinciples

Appendiceson ethics, compliance and anti-corruption

governanceSupply chain

Health and safety

Contents

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PeoplePrinciples
MetricKey performance indicators

2021

2022

2023

Health and safety# of sites certified to ISO 45001

71

61

65

# of sites certified to ISO 9001

270

245

238

# of sites certified to ISO 50001

Not available

1

1% of employees covered under a collective bargaining agreement

Not available

26.0%

28.0%

continued

Principles Retired Metrics
MetricEthics andgovernanceKey performance indicators

Reasoning

Net revenue (million USD) in countries that have

Other than the United States, no other country accounted for more than
10% of our consolidated revenue during the periods reported.

20 lowest rankings in Transparency International’s
Corruption Perception Index

Ilaria Cabona, Lead Project Engineer, IET

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PeoplePlanetPrinciples

AppendicesLegal disclosures
We report our sustainability performance annually. This report was developed for thereporting period of January 1 to December 31, 2023. This report includes several restatementsof data from prior years’ reports. Those restatements and the reasons for them are identified
as they appear. Our organizational boundary is based on an operational control approach.
We report performance from the operation of our wholly owned companies and thesubsidiaries over which we have operational control and exclude non-operated, minority-

owned joint ventures. Our report is reviewed prior to publication by our Governance andCorporate Responsibility Committee as part of their regular review of sustainability andcorporate responsibility topics and approved by the full Board of Directors.

Unless otherwise specifically stated, this report covers Baker Hughes’s performance in 2023.
Incremental information regarding our sustainability report has been included in our 2023

Annual Report on Form 10-K and our 2023 Proxy Statement, which can be found at https://investors.bakerhughes.com/investor-relations.

The goals and projects described in this report are aspirational; as such, no guarantees

or promises are made that these goals and projects will be met or successfully executed.
Furthermore, data, statistics and metrics included in this report are not prepared inaccordance with U.S. Generally Accepted Accounting Principles (GAAP), continue to evolveand may be based on assumptions believed to be reasonable at the time of preparation, butshould not be considered guarantees and may be subject to future revision. This report uses

certain terms including those that GRI or others refer to as “material” to reflect the issues or
priorities of Baker Hughes and its stakeholders. Used in this context, however, these terms

are distinct from and should not be confused with, the terms “material” and “materiality” asdefined by or construed in accordance with securities, or other, laws or as used in the context
of financial statements and reporting.

Statements of future events or conditions in this report, including those that concern

future circumstances and results and other statements that are not historical facts andare 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, are forward-

looking statements. Forward-looking statements are based upon current plans, estimatesand expectations that are subject to risks, uncertainties and assumptions.

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PeopleShould one or more of these risks or
uncertainties materialize, or should
underlying assumptions prove incorrect,
actual results may vary materiallyfrom those indicated or anticipated bysuch forward-looking statements. The
inclusion of such statements should not
be regarded as a representation thatsuch plans, estimates or expectations
will be achieved. Important factorsthat could cause actual results to differ
materially from such plans, estimatesor expectations include, among others:changes in demand for oil and naturalgas, as well as integrated products andservices; expenditure reductions; changes
in economic, political and businessconditions; changes in laws, regulations,other requirements or the enforcement
or interpretation thereof including thoserelated to oil and gas exploration andproduction, natural resources and fossil
fuels management and climate-related
initiatives; technological developmentsof and substantial investments in,alternative energy; success of our
CCUS and other initiatives; inability
to reduce environmental impact;
involvement in litigation; inability tosatisfy service, equipment and powerpurchase agreements; inability toobtain, maintain, protect or enforce ourintellectual property rights; remedial or
non-compliance actions; the financial
and operating conditions of our supply
chain; defects in risk management;
losses from, or the inability to identify andmitigate, risks inherent in operating in
the global energy industry; high cost or
unavailability of infrastructure, materials,
equipment, supplies and/or personnel;
potential disruption of operations due towar, accidents, weather and seasonal
factors, political events, civil unrest,
cybersecurity, geopolitical, or terrorism
threats, pandemics, economic downturns
or other causes beyond our control; andthe risk factors in the “Risk Factors” sectionof our 2023 Annual Report on Form 10-K
and those set forth from time-to-timein other filings by the Company with the
U.S. Securities and Exchange Commission(SEC), available through our website
or through the SEC’s Electronic Data
Gathering and Analysis Retrieval (EDGAR)
system at http://www.sec.gov.

PlanetPrinciples

Appendices