Investor Overview May 2023 Copyright 2023 Baker Hughes Company. All rights reserved. The information contained in this document is company confidential and proprietary property of Baker Hughes and its affiliates. It is to be used only…
Overview & Strategy 3 Copyright 2023 Baker Hughes Company. All rights reserved.
BAKER HUGHES 4 We take energy forward making it safer, cleaner, and more efficient for people and the planet 120+ 55,000 21.2B Countries Employees Revenues 2022 217 556M 2,200 Perfect HSE in R&D Patents days in 2022…
BAKER HUGHES PRIORITIES 5 TOP PRIORITIES Capitalize on the growth opportunities across Sharpening our OFSE and IET, including LNG and New Energy focus on building a differentiated Increasing R&D to develop New Energy technology…
BAKER HUGHES OVERVIEW 6 World leading Energy Technology Company Production Gas Baker Hughes has a Solutions Technology Providing solutions diverse portfolio of to help solve the technologies & services worlds greatest that…
STRATEGY 7 Changing the way we operate Laying the foundation for consistently better operating results and higher returns Key Targets OILFIELD SERVICES & INDUSTRIAL & ENERGY CORPORATE FUNCTIONS EQUIPMENT (OFSE) TECHNOLOGY (IET)…
MACRO OUTLOOK 8 Tailwinds across both business segments Oilfield Services & Equipment (OFSE) Industrial & Energy Technology (IET) Growth trends clearly shifting in favor of international and Positive near-term and long-term…
CAPITAL ALLOCATION 10 Flexible Capital Allocation Policy Prioritizing a strong balance sheet and returning capital to shareholders 60%-80% FCF 5 PRIORITY Balance Technology Dividends Buybacks M&A2 Sheet Investment1…
GUIDANCE 12 2023 Outlook 2Q23 Outlook 2023 Outlook BKR BKR Cost out by end of 2023 Revenue 6.1 - 6.5B Revenue 24 - 26B Adj. EBITDA 845 - 905M Adj. EBITDA 3.6 - 3.8B OFSE OFSE Revenue 3.65 - 3.85B Revenue 14.5 - 15.5B…
Oilfield Services & Equipment 13 Copyright 2023 Baker Hughes Company. All rights reserved.
OFSE PORTFOLIO OVERVIEW 14 Oilfield Services & Equipment (OFSE) Oilfield Services & Equipment Reporting Segment Revenue FY 2022 Well Construction Completions, Intervention Production Solutions Subsea & Surface Pressure &…
OFSE PORTFOLIO OVERVIEW 15 OFSE expertise spans the lifecycle of the field Production focused portfolio, positioned to enhance recovery and reduce emissions Production Solutions Artificial Lift Oilfield & Industrial Systems…
OFSE STRATEGY 16 Developing new solutions for current and evolving markets Digital Digital New Energy Connecting our leading technology to digital applications Leveraging subsurface to surface portfolio to provide long- that…
OFSE SEGMENT RESULTS 17 Oilfield Services & Equipment (OFSE) Results Strong performance driven by international and offshore markets OFSE Revenues & EBITDA Margin 1Q23 OFSE - Revenue Growth by Geography 15% 10% 4,000 3,579 3,577…
OFSE TARGETS 18 OFSE strategy and execution Positioned for cyclical upturn and preparing for new energy order Pathway to 20% EBITDA margins Multiyear upstream cycle to bolster growth Supply chain & Well positioned in key markets…
Industrial & Energy Technology 19 Copyright 2023 Baker Hughes Company. All rights reserved.
IET PORTFOLIO OVERVIEW 20 Industrial & Energy Technology Industrial & Energy Technology Reporting Segment Revenue FY 2022 GAS TECHNOLOGY INDUSTRIAL TECHNOLOGY Equipment Services Condition Inspection Pumps, Valves & PSI &…
GAS TECHNOLOGY EVOLUTION 21 Gas Technology - Structural growth through the cycles Technology differentiation has allowed Gas Technology to continually capitalize on market trends 9B Gas Tech Equivalent Orders B 7B 7B 6B 6B 6B…
IET PORTFOLIO OVERVIEW 22 Gas Technology LNG Equipment Supplier of critical liquefaction and power Liquefaction module solutions, from large to medium/small production size generation equipment & services Turbo-compression…
IET PORTFOLIO OVERVIEW 23 Industrial Technology Ensuring safety, reliability and higher throughput yield with continuous monitoring Sensors used to monitor a variety of risks Pumps, Valves & Gears Precision Sensors &…
CLIMATE TECHNOLOGY SOLUTIONS 24 Leveraging core technology to drive New Energy opportunities Uniquely placed to play a leading role in the decarbonization of the energy & industrial sectors Baker Hughes Today Future CTS Recent…
IET DIGITAL 25 Introducing Cordant is an integrated suite of solutions that connects Baker Hughes critical capabilities for asset performance management and process optimization Asset Performance Management Process…
IET SEGMENT RESULTS 26 Industrial & Energy Technology (IET) Orders Strong orders driven by continued strength in LNG & Onshore/offshore Production IET Orders Gas Technology Orders Industrial Tech Gas Tech Gas Tech Equipment Gas Tech…
IET SEGMENT RESULTS 27 IET Results Strong revenue growth driven by Gas Tech Equipment backlog conversion IET Revenues & EBITDA Margin 1Q23 IET Gas Technology Revenues 18.4% Gas Tech Services Gas Tech Equipment 3,000 16.0% 20%…
IET TARGETS 28 IET strategy and execution Creating a market leader for a net-zero economy Pathway to 20% EBITDA margins Natural gas leader across value chain, with Supply chain & unrivalled LNG presence Cost product design…
Sustainability, Management & Board of Directors Overview 29 Copyright 2023 Baker Hughes Company. All rights reserved.
SUSTAINABILITY 30 Committed to sustainability Led by our purpose of making energy cleaner, safer, and more efficient for people and the planet 23% Reduction in Scope 1&2 GHG emissions vs. 20191 DRIVING CARBON HEALTH, SAFETY &…
SUSTAINABILITY 31 Baker Hughes Corporate Responsibility framework People Planet Principles Fostering diversity, equity, and inclusion The dual challenge of energy & climate Doing the right thing, always Baker Hughes ESG ratings…
MANAGEMENT TEAM 32 Baker Hughes management team Lorenzo Simonelli Chairman & Chief Executive Officer Maria Claudia Borras Ganesh Ramaswamy Nancy Buese EVP OFSE EVP IET Chief Financial Officer Deanna Jones Jeff Fleece…
BOARD OF DIRECTORS 33 Baker Hughes Board of Directors CEO of Generation Capital Executive Chairman of CCMP since 2013 Capital Advisors, LLC, since President & CEO of Baker Board member of Maple Leaf 2016 Hughes since 2017 Foods…
APPENDIX 38 OFSE & IET reconciliations Consolidated Revenue by Reporting Segment and Product Line ( in millions) FY 2019 FY 2020 1Q 2021 2Q 2021 3Q 2021 4Q 2021 FY 2021 1Q 2022 2Q 2022 3Q 2022 4Q 2022 FY 2022 1Q 2023 Well…
APPENDIX 39 OFSE & IET GAAP to Non-GAAP reconciliations Reconciliation of Operating Income (Loss) by Segment (GAAP) to EBITDA (non-GAAP) ( in millions) Operating Income (loss) by Segment (GAAP) FY 2019 FY 2020 1Q 2021 2Q 2021 3Q 2021…
APPENDIX 40 OFSE & IET GAAP to Non-GAAP reconciliations Reconciliation of Operating Income (Loss) by Segment (GAAP) to EBITDA (non-GAAP) Outlook Framework ( in millions) Oilfield Services & Equipment 2Q 2023 Outlook Range 2023 FY…
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