Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 48

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 48
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 interest arose concerning the work performed by FW Cook. Benchmarking The high level of competition for executive talent magnifies the need to ensure that our executive compensation programs are appropriately positioned against peer companies. To appropriately benchmark compensation and measure performance, Baker Hughes utilizes two primary benchmarking sources: (1) a Compensation “Reference Group” and (2) a Performance “Peer Group.” Compensation “Reference Group” The Human Capital and Compensation Committee regularly assesses the market competitiveness of the Company’s executive compensation program based on data from a comparator peer group. The companies comprising the Reference Group include industry peers and companies in the broader energy and general industry sectors with similar business characteristics, size, margins, competition for talent, and other key compensable factors. There are challenges developing a reference group based solely on our industry. The direct industry is small and the majority are significantly smaller in size and scale of operations. Consequently, expansion beyond the direct industry is necessary to maintain a sufficient sample size of suitable comparison companies.

| 44  2025 Proxy Statement |

Executive Compensation The chart below represents the key criteria that were considered in selecting the Reference Group.

| Primary selection criteria |

| Similar Business Characteristics: global scale, engineering, industrial, and technology applications, multiple divisions, logistical complexity, business services, asset/people intensity, and mature stage business |
| Labor Market Competitors: Baker Hughes’ market for executive talent extends throughout multiple industries                                                                                                            |
| Scale: Primary – Revenue, Secondary – Market Cap. Generally, within a 1/3x to 3x range but larger comparators may be appropriate if the prior criteria are met                                                        |

The Reference Group for Baker Hughes is comprised of 26 companies. Baker Hughes is positioned at the median for revenue, similar to our executive compensation which is also aligned with the median of the Reference Group.

| Compensation Reference Group |

| 26 companies—Blend of General Industry, Capital Intensive and Global Oil & Gas Peers                                                                                                    |     |                                                                                                                                                                                                                                                         |     |                                                                                                                                                                               |
| 3M Company   Caterpillar Inc.   ConocoPhillips   Cummins Inc.   Danaher Corporation   Deere & Company   Devon Energy Corporation   Eaton Corporation plc   Emerson Electric Co.         |     | EOG Resources, Inc.   Fluor Corporation   General Dynamics Corporation   Halliburton Company   Honeywell International Inc.   Illinois Tool Works Inc.   International Paper Company   Johnson Controls International plc   L3Harris Technologies, Inc. |     | Northrop Grumman Corporation