Company: BKR
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001193125-25-067674
Chunk: 42

Company: Baker Hughes Co
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 42
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 | % |     | 12%      |
| Adjusted EBITDA *                              |     | 25% ($)   |     | $4B       |     | $4.3B  |     | $4.7B   |     | $4.6B   |     |      173 | % |     | 43%      |
| Adjusted EBITDA Margin *                       |     | 10% (%)   |     | 14.5%     |     | 15.6%  |     | 17%     |     | 16.5%   |     |      163 | % |     | 16%      |
| FCF *                                          |     | 25%       |     | $1.75B    |     | $2.05B |     | $2.5B   |     | $2.26B  |     |      146 | % |     | 37%      |
| Weighted Payout                                |     | 70%       |     |           |     |        |     |         |     |         |     |      154 | % |     | 108%     |

| * | Adjusted EBITDA, adjusted EBITDA margin and FCF are non-GAAP measures. A reconciliation of GAAP to non-GAAP measures is included in this Proxy Statement in Annex A. Note: There were no adjustments made to as-reported revenue and FCF. |

In 2024, we exceeded the target across all financial metrics including a remarkable adjusted EBITDA and adjusted EBITDA margin performance. The overall achievement of the financial metrics was 154% of target. Bonus outcome for Strategic Blueprint priorities While the financial metrics reward executive officers for the achievement of specific formulaic measures, the Human Capital and Compensation Committee approved “Strategic Blueprint” priorities for the executive officers to reward them based upon the Human Capital and Compensation Committee’s assessment of the achievement of specific performance goals that are critical to the execution of the Company’s strategy, but may or may not be formulaic in nature. These Strategic Blueprint priorities consist of the following performance objectives: (1) safety and compliance; (2) growth and transformation; (3) sustainability and leadership; and (4) shareholder returns. The maximum funds available for the payment of bonuses related to the Strategic Blueprint priorities may not exceed two times the weighted targets for any participant. The Human Capital and Compensation Committee’s assessment of the Strategic Blueprint