1. Positioning GE for long-term
growth
Jeff Immelt, Chairman and CEO
Keith Sherin, Vice Chairman and CFO
GE Shareowners Meeting
April 22, 2009

2. Presentation
Keith Sherin (CFO): Operating GE in a
challenging environment
Jeff Immelt (CEO): Positioning GE for long-
term growth
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3. Operating in a challenging
environment
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4. Global economic recession
U.S. housing U.S. unemployment Global GDP
210
1st time since
~30% decline Great Depression
Average home prices ($)
200 in house 2%
8.5% global GDP
prices from negative
190 peak
180
5.1%
1Q’09E
160 1Q’08
150
March ’08 March ‘09
2007 2008 2009 (2)%
S&P/Case-Schiller Price Index
Recession now affecting all pockets of global economy
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5. Financial system in crisis
Peak
Cumulative bank losses to date Founded valuation
1850 $46B Bankruptcy
~$1.5T 1879 $130B Sold for $15B
1889 $40B Sold for $2B
1920 $262B $4B market cap
1923 $20B Sold for $2B
~$500B
1938 $86B $1B market cap
1969 $26B Sold for $4B
U.S. Global
1970 $51B $0.5B market cap
Fundamental reset of financial services landscape
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6. Capital markets not functioning
Gov. equity Bank holding co.
Avg. debt issuance per month–a)
$3B Converted
~$30B+
$10B Converted
$10B Converted
$25B Existing
~$2B $45B Existing
$25B Existing
Pre-crisis Today $45B Existing
(a- excludes government guaranteed debt issuance
 GE is paying the government to participate in loan programs
 GE has not had to convert to a bank holding company
 GE has received NO government equity
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7. GE Capital impact What we don’t do
+ Originate risky debt (CLO, CDO, SIV)
Earnings
+ Sell credit default insurance
+ Trade securities
~$12B + Originate high-yield debt
~$8B
What we do
+ Senior and secured leader
+ Diversified portfolio
+ Operate assets
‘07 ‘08 + Work out problems
+ Underwrite to hold
+ Conservative funding
GE Capital earnings will be under pressure
Expect GE Capital to be profitable in 2009
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8. Dividend
GE had communicated flat dividend S&P 500 dividend reductions
in 2008 … what changed in 2009? significantly increased in 2008 -
 Unemployment spiked to 7.6% in 50
January already
in ‘09
 Capital markets deteriorated in
Feb. 2009 62
 Loss expectations at GE Capital  …
government stress tests for banks
 Moody’s and S&P ratings review
11 9 12
2005 2006 2007 2008
 Sustained $0.31/share through 2Q’09 …
$0.10 per share starting 3Q’09
 Environment continued to deteriorate and
GE was not immune
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9. GE earnings performance
2008 actuals 2009
+10%
Industrial • 1Q ’09 … $0.26 EPS vs. $0.21 consensus
 Infrastructure earnings +11%
 Capital Finance earns $1.1B
(1)%
S&P GE–a) • Operating with intensity
 Aggressive cost out
(193)% (29)%
Capital  $171B infrastructure backlog
 Solid cash performance
• Increase disclosure + transparency
S&P GE–b)
(a- GE Industrial excluding C&I (b- Capital Finance
 Performance > peers in ’08 … but below expectations
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10. Global markets 43% over last year
World equity index April 2008 – April 2009 returns
1,800
(52)%
1,600
1,400
(38)% (36)%
1,200
(39)%
1,000 (51)%
800
(48)%
600
2004 2005 2007 2009
~$30 trillion in wealth destroyed
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11. GE stock
(50)% Ind. peers
(64)% GE
(71)% Fin. peers
April ’08 Aug ’08 Dec ’08 April ’09
 Concerns on GE Capital weighing on stock … but significantly off March lows
– Stock +15% since March 19 meeting on financial services
– Continuing to proactively communicate 2009/2010 scenarios
 Stock performance in 2008 and 2009 disappointing to all of us
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12. Safe and secure in summary
($ in billions)
GE cash GE borrowings
$45B less debt
including $30B
$31B more less commercial
cash since paper
September $549
$504
$47
$16
Commercial
paper $88 $58
September Today September Today
2008 2008
 Equity issuance provided $15B additional cash in hand
 Dividend cut will provide ~$9B in cash annually
 Retained strong, stable debt rating
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13. Final thoughts
 GE is a big company … impacted when the system
collapsed
 GE Capital is a good business … must be smaller as the
financial markets reset
 Made difficult decisions to protect the company over
the long term
 Performance builds trust
Focused on keeping GE safe and secure
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14. Positioning GE for
long-term growth
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15. A new era
Cycle Reset
Housing Financial services restructuring
Unemployment Role of government
Credit Wealth reduction/transfer
Capital investment Reputation + trust
Happens once Happens once
each decade each generation
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16. How we plan to win
1 Build strong businesses
2 Invest in innovation, services and globalization
3 Position in essential themes
4 Drive competitiveness through scale
5 Commit to people: strong leaders + loyal team
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17. 1 Strong businesses
GE has leadership franchises
Segment / 15-year growth
Strength (’93-’08)
Energy Infrastructure ~15%
(Power Gen, Wind, O&G)
Technology Infrastructure 10+
(Aviation, Trans., Healthcare)
NBCU 15+
(Cable, Film)
Capital Finance 10+
(Verticals, Mid-Market Finance)
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18. 1 Strong businesses
Must create a smaller + more focused GE Capital
Reduce assets ($B)
+ Connection with GE
Exit product lines
+ High margin
+ Competitive advantage
+ Reliable lender
Past Future
GE Capital investor value
2000 Today Future
$100B+ Low +
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19. 1 Strong businesses
Portfolio has been rebuilt for growth
Businesses we sold Businesses we acquired
– Reinsurance + Renewable energy
– Financial Assurance + Oil & Gas/Water
– Plastics/Silicones + Healthcare IT/Life sciences
– Industrial supply + Avionics
– TV stations + Cable media
Underperformed Made billions
post-GE for GE
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20. 2 Invest in growth
Lead in technology and content
+
2000-09  Leadership in sciences
$50B in technology  Continuous innovation
20,000 patents
 Positioned in important industries
$40B in content Energy/Water Media
Healthcare Oil & Gas
Global deployment Transportation Consumer
Investment
GE has scale advantage
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21. 2 Invest in growth: Smart grid
GE story
Marriage of IT with electrical
infrastructure to support 21st
century energy needs … drives
efficiency and renewables use
Only GE …
 Technology to integrate systems
 Domain knowledge from
generation through end use
 Innovating for the future at our
Global Research Centers
Could be a $5B+
new business
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22. 2 Invest in growth: sodium battery
GE story
 Increasing demand across GE
industries + new markets
 Unique technology…patented
 $150 million in investments
 Novel chemistry + materials +
intelligent controls
 Major investment planned
Could be $1B+ new
business
Energy storage
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23. 2 Invest in growth: hulu
GE story
 #2 online video site in the U.S.
 Nearly 200 advertisers
 More than 140 content providers
 “50 Most Innovative Companies of
2009,” Fast Company
 “The Best New Way to Watch TV,”
BusinessWeek
$100M revenue within
first 24 months
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24. 2 Invest in growth: molecular imaging
GE story
Brain imaging
L R  GE leading in neuro imaging
agents
 Compounds being developed
for early diagnosis for
Alzheimer’s & Parkinson's
 Therapy being developed with
pharma companies
Marker development  Lowers cost + improves patient
+ outcomes
Imaging tools
Commercialized by 2015
Could be $500M+
new product
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25. 2 Invest in growth: cleaner coal
GE story
 Coal with a cleaner footprint
 Capable of carbon capture
 GE + Duke Energy building the
largest commercial IGCC plant
 Gives coal a future in a carbon
constrained world
 GE a leader … expect more
business globally
Duke Energy Could be $5B+
Edwardsport site construction, January 2009
new business
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26. 2 Invest in growth: services
$120B
~$40B
28%
GE-Southwest story
Backlog ’09 revenue Margins  Largest operator of our CFM56
engine…1,120 in Southwest fleet
Business growth even  Big engine services customers …
in a recession ~ $5B+ under contract through 2018
 GE services help Southwest to be
competitive
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27. 2 Invest in growth: global
($ in billions) Iraq turbine order
Industrial global revenues
~15%
$61 CAGR
$43
$26
2009 priorities
'03 '06 '09F  Win major infrastructure orders
% int’l. 41% 48% 53%  Establish strategic partnerships
 Build capability in service, technology
and manufacturing
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28. 3 Position in essential themes
Stimulus GE impact
Target countries
 Drive renewables
$2T U.S.
 Accelerate green energy
Canada infrastructure
China  Increase global infrastructure
projects
Japan
 Accelerate targeted healthcare
Brazil spending
U.K.
 Encourage innovation investment
France
 Aggressive export finance support
Germany
Announced
Middle East
 Governments targeting infrastructure, GE well-positioned
energy, healthcare, jobs
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29. 3 Position in essential themes
($ in billions)
ecomaginationsm
Revenues
 72+ products $25
 Big pipeline  R&D leadership
$17
 Reputation/brand
$6  Saved $500M by reducing
carbon footprint
 Customer partnerships
'04 '08 '10F
GE the leader in clean energy
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30. 4 Drive competitiveness
2008 industrial organic
revenue growth 2008 margins
8 15.6
(in %) 2X (in %) 14.6 +100 bps.
4
GE GE
Peers Peers
2008 return 2008 revenue
on capital per employee
14.8 +270 bps. (in $K) 566 2X
(in %)
12.1
294
GE GE
Peers Peers
Peers include Whirlpool, Disney, News Corp., United Technologies,
Honeywell, Siemens, Philips, ABB, Rolls Royce, Alstom
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31. 4 Drive competitiveness
2009 actions
Cost out Cash
$5B+ $2B+
Working
capital
reduced,
freeing up
cash
Base cost  Inventory
Indirect cost  Receivables
Material cost  Payables
Can weather the cycle
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32. 5 Commit to people
Employees Retirees
 $1B training investment  You are GE
 Deep expertise  Pension safe
 Retention high  Good healthcare
benefits
 Fiercely loyal team
Market-tested leaders in challenging times
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33. Through cycles, GE performs
($ in billions)
1970-79 1980-89 1990-99 2000-09
~165
~90
65
29
12
8 10
4
Dividend Earnings Dividend Earnings Dividend Earnings Dividend Earnings
From 2000-09, GE generated more earnings and paid
more dividends than the past 30 years combined
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34. Winning in the reset world
1 Build financial services around GE core
2 Invest more in R&D … products at all price points
3 Lead in essential themes … ecomagination
 Next target is healthcare
4 Excellence in manufacturing … for the U.S. and the
world
5 Retain a team that is competitive and loyal and has
a long term view
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35. There will be a future
+
GE will lead
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