Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 1

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 1
---
 shareholder returns. |

| • |     | We achieved another record year of adjusted measures of EBITDA* and EBITDA margins* – with a 22% increase in adjusted EBITDA*. Our EBITDA margins were up 1.7 percentage points to 16.5%. Baker Hughes is clearly delivering results and is focused on continuing this momentum, with EBITDA to demonstrate another year of solid growth in 2025. |

| • |     | Continued leadership in natural gas. In 2024, we secured $3.3 billion in liquified natural gas (“LNG”)-related orders, reinforcing our position as the leading energy technology provider for this critical resource. 2024 was a pivotal year for gas, and by 2040, we expect natural gas demand to grow by almost 20% and global LNG demand to increase at an even faster rate of 75%. |

| • |     | Growth in new energy solutions. In 2024, our new energy orders crossed the $1 billion mark for the first time, tripling awards since 2021. We continue to exceed our full-year guidance in new energy and remain confident in our ability to achieve our 2030 orders target of $6 billion to $7 billion. We remain well-positioned to capitalize on the growing need for lower-carbon energy technologies. |

Over the last year, we made tremendous progress to help our customers reduce emissions, improve efficiency and drive sustainable energy development – the balance needed to supply the world with the energy it needs today without adversely impacting the abundance and availability of energy tomorrow. As we move into 2025, the global energy landscape continues to evolve. Regardless of how the energy landscape evolves, our customers will find what they need from our diverse portfolio of best-in-classtechnology solutions and services. Our Board of Directors remains focused on supporting Baker Hughes’ growth and transformation. On behalf of the Company, I want to express my appreciation to our Board members for their dedication to our long-term success. With their support and guidance, we have undergone significant change to differentiate ourselves as the leading energy technology company, laying the foundation to transform Baker Hughes. The full potential of our diversified energy and industrial company is uniquely capable to optimize traditional sources of energy while abating emissions and enabling new energy. To our customers, shareholders, and employees – thank you for your continued support of Baker Hughes. With our strong portfolio, disciplined execution, and unwavering commitment to innovation, we are confident in our ability to drive