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2014 first quarter

GE Capital Overview/Strategy

GE

GE’s portfolio

$146 billion in revenue

53% revenue outside the U.S

$17 billion operating earnings

15.7% industrial operating margin

$8.3B industrial CFOA*

$8 billion dividends paid

$10 billion buyback

Transportation

$5.9B

$1.2B

-

Rev.

OP

’14E

Power

& Water

$24.7B

$5.0B

+

Energy

Management

$7.6B

$0.1B

++

Oil & Gas

$17.0B

$2.2B

++

Aviation

$21.9B

$4.3B

++ Appliances &

Lighting

$8.3B

$0.4B

++

Capital

$44.1B

$8.3B

~$7B

Healthcare

$18.2B

$3.0B

+/++

Rev.

OP

’14E

(Total Year 2013 figures)

*ex. NBCU deal-related tax $11B

3

129 147 157 160 166 168 180 181

46 53

53 56 57 61 64 64

'10 '11 '12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

($ in billions)

Equip.

Services

$216

$175

$200 $210

$223 $244

$229 $245

Infrastructure backlog & orders

TY orders +8% and backlog up $34B

Equipment & services backlog expansion continues

Largest backlog in history

4

2013 Orders - $30.7B

Equipment book-to-bill 1.3 driven by orders strength in P&W

Service orders +5% with 5/6 segments

Broad regional growth … MENAT +70%, China +25%, SSA +18%, U.S. +8%, Europe +3%

Backlog +$15B … Aviation services & P&W equipment

Revenues $34.2 (2)%

– Industrial sales 24.0 8

– Capital revenue 10.5 (8)

Operating earnings 3.3 (18)

Operating EPS .33 (15)

Continuing EPS .29 (17)

Net EPS .30 (12)

CFOA YTD 1.7 F

– Industrial 1.2 F

1Q’14 V%

Segment profit

Power & Water $5,509 14% $888 24%

Oil & Gas 4,308 27 446 37

Energy Mgmt. 1,672 (4) 5 (67)

Aviation 5,778 14 1,115 19

Healthcare 4,198 (2) 570 (4)

Transportation 1,227 (14) 202 (24)

Appliances & Lighting 1,857 (3) 53 (33)

Industrial 24,549 8 3,279 12

GE Capital 10,515 (8) 1,933 -

Total segments $35,064 3% $5,212 7%

Revenues

$ V% $ V%

1Q’14 1Q’13

Tax rate 15% 12%

– GE (ex-GECC) 24 20

– GECC 9 4

($ in billions – except EPS) ($ in millions)

1Q’14 consolidated results

GE Capital

A valuable part of GE

A smaller, more focused Capital will continue to be an important part of GE

~30%

• Cash for buybacks & industrial M&A

• ~30% earnings … grow in line with industrial

• Competitive synergies

‒ Strength of AA rated parent

‒ Domain expertise

‒ Verticals in GE industries

‒ Capital markets/transaction advisory

‒ Tax efficiency

• Safe & secure … well capitalized

• Senior, secured commercial lender

~70%

Premier infrastructure company

Valuable specialty finance

GE Capital adds value to GE

7

GE Capital today

Competitively advantaged, specialty finance business

Assets: $174B

Net Income: $2.0B

• Secured lender

• Leader in 6 U.S. middle markets

• ~1MM customers

Commercial Loans & Leases

Consumer Real Estate Aviation Services

Energy Fin’l. Services

Assets: $132B

Net Income: $4.3B

• US: Store cards and sales finance

• Global banks

• Broad spread of risk

Assets: $39B

Net Income: $1.7B

• Originating debt at attractive returns

• Continuing to shrink equity

Assets: $46B

Net Income: $0.9B

• GE domain • Leader in

industry • Broad product

set

Assets: $16B

Net Income: $0.4B

• GE domain

• Essential assets

• Alignment with GE Energy

8

‘13 revenue: $44B ‘13 assets: $517B ($380B Ending Net Investment) –a) ‘13 profit: $8.3B –b)

a) ENI is shown ex-cash

b) Continuing operations attributable to company

GE Capital businesses

Businesses we know…deep domain…decades of performance

Business

Commercial Lending & Leasing

1Q’14 assets

• Entered in the 60’s • ~100% secured loans and leases • Support mid-market customers

• Entered in the 70’s • Secured loans against diversified properties • Own/operate high quality properties

• Entered in the 30’s • Store cards and sales finance for retailers • Broad spread of risk

• Entered in the 60’s • GE domain • Broad product set with full life cycle management

• Entered in the 80’s • GE domain • Essential assets; secure cash flows

Domain + expertise

Real Estate $38 - Debt

- Equity

Consumer $132 - U.S. PLCC

- Global

Aviation Services $45

Energy Financial Services $16

($ in billions)

$175

9

1.88% 1.75%

1.98% 1.93% 2.14% 2.16% 2.10%

1.41% 1.24% 1.30%

6.11% 6.09% 6.11% 6.07% 5.75%

11.24% 11.83% 11.54% 11.17%

10.31%

1Q'13 2Q'13 3Q'13 4Q'13 1Q'14

GE Capital – 1Q’14 results

Revenue $10,515 (8)%

Pretax earnings 2,142 5

Net income 1,933 –

ENI (ex. cash) 374B (7)

Net Interest margin 4.9% (11) bps.

Tier 1 common % (B1) 11.4% 32 bps.

CLL $175 -% $564 42% Lower impairments, asset sales; disciplined origination

Consumer 132 (3) 786 47 Non-repeat of reserve adjustments & U.S. growth

Real Estate 38 (11) 239 (65) Lower gains (30 Rock non-repeat); strong debt volume

GECAS 45 (8) 352 1 Solid operating performance offset by lower assets

EFS 16 (14) 153 84 Strong operating income

$ V% 1Q’14

Segment profit ($MM)

$ V% $ V%

Assets ($B)

1Q segment dynamics

30+ delinquencies

Real Estate

Consumer

Mortgage

CLL

($ in millions)

10

GE Capital – future

Focusing GE Capital on the middle market and verticals connected to GE Building on GE strengths & our domain expertise

11

(ENI (ex. cash), $ in billions)

• Execute phase II of transformation … N.A. Retail exit & continued non-core run-off

• Returns on tangible equity > cost of equity

• Build out world-class regulatory infrastructure

• Deliver ~30% of GE’s net income

• Pivot to growth in line with Industrial

Operating priorities

Lending & leasing

Real Estate

Consumer

GECAS / EFS

2013 2015F Future

$380

~$300-350 +

33%

11%

14%

42%

10-15%

10-15%

20-25%

50-55%

5%

10-15%

20-25%

55-65%

Funding

GECC funding

Debt composition–a)

Commercial paper

LT debt

Alternative funding/other

Deposits/CDs

39 29 25

26 25 24

49 53 55

241 234 232

30 30 29

1Q'13 4Q'13 1Q'14

$371 $365-b)

Non-recourse Securitization

$385

Cash & equiv. $68 $75 $75

Bank lines $48 $48 $47

CP coverage 100%+ 100%+ 100%+

LT debt <1yr. $35 $39 $41

($ in billions)

(a - Continuing operations (b - Includes ~$1.1B YTD FX impact and ~$0.9B YTD FAS 133 (c- Total equity ex. non-controlling interests

Funding strategy

Centralized Treasury operation

‒ No speculative trading … not a profit

center

Matched funding policy

Diversification of funding

Rigorous liquidity management

− Cash $75B at 100%+ coverage of next 12 months LT debt maturities

− Bank lines $47B at 100%+ coverage of

commercial paper

Strong implicit and explicit GE parent support … Income Maintenance

Agreement

Equity –c) $84 $83 $85

13

Alternative funding transition

~20% alternative funding ex. Retail … opportunities for further growth

Enabling strategic transition

8%

29% 63%

14%

12%

74%

Alternative funding –a) $62 $108

(a - 4Q’08 securitization balance is pre SFAS 167 (’08 $6B, 4Q’13 $30B)

’13 ’08

14%

22%

13%

35%

17%

U.S. secured

Other

U.S. retail deposits

U.S. brokered deposits

Int’l. deposits

Continue diversification journey

• Enabling reduction of annual LTD issuance & CP outstanding

• Driving improved asset/liability match

• Self funding enabling key dispositions (Retail Finance, Swiss)

• U.S. deposit growth focus

• Mix shift … brokered to direct retail deposits

• Leverage additional secured borrowing capacity

LTD

CP Alternative funding

($ in billions)

14

2007 2008 2013 1Q'14

Commercial paper

Significantly reduced footprint … lowest CP balance in 20+ years

Global Outstanding ($B)

• Credit ratings … A-1+/P-1

• Issue in four currency markets

• USD paper placed directly with end investors by experienced team in U.S.

• Committed undrawn credit lines $47B from ~50 institutions globally

14%

86%

GECC U.S. Market share down from 5.1% in ‘07

to ~2.1% at 1Q’14

$72

$101

Highlights

Int’l

U.S.

$29

$25

15

'07 '08 '09 '10 '11 '12 '13 '14E

Issuances Maturities

GECC unsecured issuances and maturities ($B)

90 84

70

25 27

45

56

69 66 64

32

80

Issuance in 11 currencies … ~8 year WAM

Smaller market footprint <2% of USD investment grade index

Support from diverse investor base

Committed to current rating (AA+/A1)

(a- senior unsecured long term debt; Maturities excludes callable LT debt non-guaranteed, LT debt from alternative funding/ other sources

Share of USD issuance

4.6% 2.8% 1.8% 1.8% 1.6% 1.5% 1.1%

2013 total year issuance - $32B

USD-Institutional

37%

USD-Retail 13% EUR

22%

AUD 7%

GBP 7%

CAD 5%

SEK 3%

Other 6%

Called

4

~8

32 35

25

35

Unsecured long term debt dynamics

~$(150)B of net negative supply in 2010-2014

2014 YTD issuance

~$5B in three currencies

16

WFC

GECC

Bank Idx

JPM

FinCo Idx

C

Aa Corp

50

100

150

May-13 Aug-13 Nov-13 Feb-14

OAS over Treasuries (bps)

GE Capital 5yr bond spread vs. peers

Source: Barclays Capital

17

$7.4

Net income –a)

$8.3

2012 2013

ENI ($B) -b)

b) - Ending net investment ex. cash and equivalents

Summary

Strong and valuable franchise

Smaller and safer franchise

Our businesses are strong and well positioned competitively

Capital levels are in excess of expected targets

We have strong liquidity and funding … continuing to diversify funding sources

Regulatory policies continue to evolve − Designated nonbank SIFI

Key messages

($ in billions)

a) - Earnings from continuing operations attributable to GECC

$444 $418

$380

2011 2012 2013

2011

$6.6

18