Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 3

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 3
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     |                65 |     |                                                 |     | Registered holders www.proxypush.com/bakerhughes   Beneficial holders Follow instructions provided by your broker, bank, or other nominee |
| 3                                                                                                                    |     | The ratification of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2025 |     | FOR              |     |                68 |     |                                                 |     | Mail your signed proxy card or voting instructions to the address listed on the envelope                                                  |
| Such other business as may properly come before the meeting and any reconvened meeting after an adjournment thereof. |     |                                                                                                                  |     |                  |     |                   |     |                                                 |     |                                                                                                                                           |

* It is possible that an adjournment or postponement may be necessary due to a national emergency that makes us unable to hold the meeting on the date as planned.

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Proxy Statement Summary Changes from Prior Year We continually review our approach to sustainability, corporate governance, human capital management, and executive compensation to ensure that we are in a position to consistently deliver on our strategy and the long-term interests of our shareholders.

2024 operational highlights 2024 was a remarkable year for Baker Hughes, achieving several milestones that demonstrate our strategy to drive profitable growth and continuous margin improvement is working. We drove operational enhancements throughout the Company that continue to transform the way we are working. In Industrial & Energy Technology (“IET”), lean principles were adopted across the businesses, and the team initiated over 120 large, problem-solving Kaizen projects, involving over 1,300 employees across all functions. IET demonstrated exceptional margin performance even as the mix continued to shift toward equipment, with EBITDA margin reclaiming prior peak levels due to conversion of higher-priced backlog and further operational enhancements. In Oilfield Services & Equipment (“OFSE”), business operations were centralized, leading to a significant reduction in duplication across our regions and product and service lines. OFSE saw structural EBITDA margin improvement, notably in Subsea & Surface Pressure Systems, driven by refocusing our commercial model, rightsizing our capacity, and improving our execution, where a year of strong orders in flexibles drove full-year orders of $3.1 billion.

| Performance                                     |     | Technology and Innovation                 |     | Sustainability and Leadership                     |
| $28.2B   in orders                              |     | $643M   in research and development       |     | AA   ESG rating by MSCI