Baker Hughes, a GE Company, Announces GE Secondary Offer Price

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Baker Hughes, a GE company (NYSE: BHGE) announced today the pricing of a secondary offer ("offer") of 115 million common shares of the class A of BHGE, with a par value of $ 0.0001 per share (the "Class A Common Shares"). General Electric Company ("GE") and GE Oil & Gas US Holdings I, Inc., GE Holdings (US), Inc. and GE Oil & Gas US Holdings IV, Inc. (collectively, GE shareholders " ) at a public price of $ 21.50 per share The underwriters will have a 30-day option to purchase up to 17.25 million additional shares of the Company. Class A common shares with selling shareholders The closing of the offering is scheduled to occur on September 16, 2019, subject to customary closing conditions.

BHGE does not offer any Class A Common Shares under the Offer and will not receive any proceeds from the sale of the Shares of the Offer.

J.P. Morgan, Citigroup, Goldman Sachs & Co. LLC and Morgan Stanley act as joint portfolio managers for the investment. BofA Merrill Lynch, BNP PARIBAS and Evercore ISI act as joint account managers for the offer.

In addition, BHGE has announced that it has agreed to repurchase (the "Share Buyback") from one or more members of the GE Group and its affiliates, in a privately negotiated transaction, 11,865,211. BHGE Class B common shares, with a par value of $ 0.0001 per share. "Class B Common Shares"), with an equal number of the participating interests of Baker Hughes, GE, LLC (the "LLC Units") at a price equal to the price per share at which the underwriters purchase Class Shares An ordinary share of sellers shareholders in the offer. The Company intends to fund the redemption of shares with cash on hand and other sources of available cash. Although the redemption of Shares is subordinated, among other things, to the closing of the Offering and completed immediately after the Offering, the closing of the Offering does not depend on the closing of the Share Repurchase. The Board of Directors of the Corporation has unanimously approved the Offer and Redemption of Shares, as well as the Conflict Committee of the Board of Directors of the Corporation composed of independent directors who are not members of the group. selling shareholders.

Upon completion of the Offering, GE and its affiliates will cease to hold more than 50% of the voting rights of any class of voting shares of BHGE. This will, among other things, reduce from five to one the number of people GE is eligible to appoint to BHGE 's Board of Directors. GE has informed the company of its intention to let John G. Rice sit on the BHGE board of directors and to let Jamie S. Miller and James J. Mulva submit their resignations to the board's Conflict Committee. of the society. Lorenzo Simonelli and W. Geoffrey Beattie are expected to continue to serve on the company's board of directors, but not as representatives of GE.

The offer of these securities is made in accordance with an effective prior registration statement. The offering is made only by way of a prospectus and prospectus supplement. A copy of the Prospectus and the Prospectus Supplement relating to such securities may be obtained, when available, from JP Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by phone at 1-866-803. -9204, or by e-mail at [email protected], and Citigroup Global Markets Inc., to Broadridge Financial Solutions, located at 1155 Long Island Avenue, Edgewood, NY 11717, or by phone at 1-800-831-9146.

This press release does not constitute an offer to sell or the solicitation of an offer to purchase, and there are no sales of such securities in any state or territory where such an offer, solicitation or sale would be unlawful prior to the sale. registration or reservation. securities laws of that state or jurisdiction.

About Baker Hughes, a GE Company

BHGE (NYSE: BHGE) is the first and only global provider of integrated oilfield products, services and digital solutions. We deploy brains and machines to improve customer productivity, safety and environmental stewardship, while minimizing costs and risks at each stage of the energy value chain. With operations in more than 120 countries, we are infusing more than a century of experience with the spirit of a startup – inventing smarter ways to bring IT to life. energy in the world.

Caution regarding forward-looking statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Exchange Act. All statements other than historical facts, including statements regarding the presentation of our business in future reports and the assumptions underlying the foregoing, are forward-looking statements. Forward-looking statements relate to circumstances and future results, as well as other statements that are not historical facts and are sometimes identified by the words "may", "will", "should", "potential", "a" intention, "expect," "strive," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "might," "project", "predict", "continue", "target" or any other similar words or expressions The forward-looking statements are based on current plans, estimates and expectations subject to risks, uncertainties and assumptions. If any of these risks or uncertainties were to materialize or if the underlying assumptions were to prove to be incorrect, the actual results could differ materially from those indicated or anticipated by such forward-looking statements.The inclusion of such statements should not be considered as an indication that such plans, estimates or expectations will be realized.

Important factors that may cause actual results to differ materially from plans, estimates or expectations include, but are not limited to, the risk factors identified in the "Risk Factors" section of the Annual Report on Form 10-K. For the year ended December 31, 2018., the quarterly reports on Form 10-Q for the quarters ended March 31, 2019 and June 30, 2019 and those presented from time to time in other documents filed by BHGE with from the SEC. These documents are available on our website or via the SEC's Electronic Data Recovery and Analysis System at the following address: http://www.sec.gov.

The Company assumes no obligation to, and expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information or new developments, future events or otherwise.

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