1. CAMPUT Mark Little May 3rd, 2005

2. The GE Portfolio … GE Energy GE Advanced Materials GE Healthcare GE Transportation GE Equipment Services GE Consumer & Industrial GE Consumer Finance GE Commercial Finance NBC Universal GE Infrastructure GE Insurance Solutions

3. GE Energy Business Profile Currently operating in more than 100 countries … 100+ years Over 37,000 employees … 500 locations 2004 revenue ~$17B 2005 estimate ~ $20B

4. GE Energy … Broad Range of Technologies NuclearO&GAeroServicesPower Generation Gas / SteamWindHydro

5. Global Fundamental Energy Challenges … Energy consumption... +20% Population, +30% Consumption Environment … +1%/yr increase in CO 2 emissions from energy Energy security … 25% of NA Energy is Imported Fuel challenge … Oil Price at record levels Energy poverty … 1B people without enough energy Infrastructure adequacy … NE(USA+Canada) blackout of ‘03

6. Need for More Energy, More Choices, More Flexibility Cleaner … more efficient … more affordable

7. Cost of electricity (COE) Affordable, reliable & environmentally responsible ConversionFuels Gas Oil Coal Nuclear Geothermal Biomass Hydro Wind Solar Gas Oil Coal Nuclear Geothermal Biomass Hydro Wind Solar Efficiency Delivery Reliability Power Generation Technology Objectives Emissions

8. France / Germany Denmark … Multiple Conversion Platforms Essential US Russia Japan China Brazil Australia Source: IEA Electricity Information Coal Gas Nuclear Hydro Solar / Wind Coal Hydro Nuclear Gas Coal Canada (560 TWh) Hydro

9. Technology Choices of the Future … Allow Tradeoffs Fuel Fossil Project Turbine 70% Wind Project Turbine & BOP 40% Cost Fuel Availability Limited Price Predictability Intermittent Hydro Project Limited 74% Civil Work Seasonal & limited High Fuel Mkt based

10. World Power Generation Market Orders Gas GW Order year Coal Wind + Other Source: EPM S1 Forecast 2005 2015 Hydro 12% Wind & Other 2% Coal 26% Petroleum 4% Gas 53% Nuclear 3% Hydro 13% Wind 3% Coal 41% Gas 35% Petroleum 3% Nuclear 3% Other 2%

11. Alternatives Becoming a Significant Contributor … and Growing Source: Shell Global Scenarios 0% 20% 40% 60% 80% Coal Nuclear Oil Gas Hydro Traditional (Wood, etc.) 185018751900192519501975200020252050 Wind, PV, other renewables % of Primary Energy Renewable Targets W. Europe 10% by 2010 20% by 2020 US … 17 states NY 25% by 2013 California 20% by 2017 China … 26 GW by 2020

12. What’s Next? Real Time: 2005 – 2008 Prime Time: 2009 – 2011 In Time: 2012 – 2015

13. In-Time Prime-Time Real –Time Technology is Critical … Requires Long Term Support ¢ per kWhr 1980199020002010 20 ¢ 5 ¢ 0 ¢ 15 ¢ 10 ¢ $$ Ideas Pure research Niche applications Gas CC, Coal, Nuclear, Hydro Fuel cell Photovoltaic Next “WOW” Hybrids Wind Biomass OEM Look for …

14. What’s Next … Real Time at GE Thermal Commercial launch of H System TM … 60% combined cycle efficiency Launched LMS100TM … 46% simple cycle efficiency Oil & Gas … world’s largest LNG train, cost economies down 50% last 10 years Renewables and Zero Emissions Wind … 2500+ 1.5 MW units worldwide, developing new family of multi-megawatt turbines Biomass – Jenbacher leads in low BTU application - increased fuel flexibility Hydro – Reversible pump turbine for storage Thermal Commercial launch of H System TM … 60% combined cycle efficiency Launched LMS100TM … 46% simple cycle efficiency Oil & Gas … world’s largest LNG train, cost economies down 50% last 10 years Renewables and Zero Emissions Wind … 2500+ 1.5 MW units worldwide, developing new family of multi-megawatt turbines Biomass – Jenbacher leads in low BTU application - increased fuel flexibility Hydro – Reversible pump turbine for storage

15. What’s Next … Prime Time at GE Cleaner Coal … targeting bids for COE equivalent to pulverized coal by 2008 Solar … COE from 30¢/kWh to 18¢/kWh by 2008, targeting 10 by 2010 Solid Oxide Fuel Cells... 1 MW, competitive COE, 65%+ efficiency, low emissions (<1.5 ppm NOx), available in 2010+ Nuclear … More economical, generates electricity and hydrogen Cleaner Coal … targeting bids for COE equivalent to pulverized coal by 2008 Solar … COE from 30¢/kWh to 18¢/kWh by 2008, targeting 10 by 2010 Solid Oxide Fuel Cells... 1 MW, competitive COE, 65%+ efficiency, low emissions (<1.5 ppm NOx), available in 2010+ Nuclear … More economical, generates electricity and hydrogen

16. What’s Next … In Time at GE ($MM) Hydrogen Infrastructure game changer No greenhouse emissions Solid oxide fuel cells Advanced hybrid cycle … 65% efficiency Next generation coal Carbon capture & CO 2 sequestration Next generation nuclear More economical Generate electricity and hydrogen

17. Wind…Technology Synergies Drive Improvement Pitch Control GE Energy & GE GRC Gearbox & Drivetrain GE Transportation Blades GE Advanced Materials & GE Transportation Power Electronics GE Energy Utilizing GE Technology Availability ‘02 ‘04 96 % 88 % Size (MW) ‘85‘90‘95‘00‘05 ‘10 Cost of Electricity Size (MW) 0 4 8 0 4 8 12 CoE (¢/kWh)

18. Canada: Wind & Hydro Complement Each Other While Hydro inflow is low … Wind blows during peak hrs

19. Biogas Sewage Gas Jenbacher … Applications Non-Natural Gas Biomass…another renewable energy source Capturing/using gas that would otherwise be vented or flared Natural Gas, Low-Emissions Industrial cogeneration & trigeneration Municipal CHP (district heating) Greenhouse … CHP + CO 2 injection

20. Marketable Byproducts: Sulfur Removal Syngas Electricity Steam Combined Cycle Power Block Marketable Byproducts: Solid feed – Slag Gas/Liquid feed - Ash Gasifier IGCC… Cleaner Coal Power GE now offering single point IGCC solution Driving Cost of Energy towards parity with pulverized coal

21. Solar … Photovoltaic Technology Roadmap Industry Leadership ‘06-’07 Improve What We Acquired Introduce Game-changer Building-integrated PV Module COE 30 ¢/kWh Future COE 18 ¢/kWh ‘04-’05 COE 10 ¢/kWh

22. Environmental Issues will continue to grow in importance A balanced energy portfolio requires multiple conversion technologies. Stable economic & policy environment allows industry to invest more quickly in emerging technologies Industry is focused on providing value- add solutions to customers There is No Crystal-ball to Predict the Future … But as Power Suppliers We Know

23. Thank You! Mark Little May 3rd, 2005