Winning in the long term
J. R. Immelt
Chairman & CEO
December 16, 2008
\"Results are preliminary and unaudited. This document contains “forward-looking statements”- that is, statements related to future, not past, events. In this context, forward-looking statements
often address our expected future business and financial performance, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” believe,” “seek,” or “will.” Forward-looking statements
by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could adversely or positively affect our future results include: the behavior of financial
markets, including fluctuations in interest and exchange rates, commodity and equity prices and the value of financial assets: continued volatility and further deterioration of the capital markets;
the commercial and consumer credit environment; the impact of regulation and regulatory, investigative and legal actions; strategic actions, including acquisitions and dispositions; future
integration of acquired businesses; future financial performance of major industries which we serve, including, without limitation, the air and rail transportation, energy generation, media, real
estate and healthcare industries; and numerous other matters of national, regional and global scale, including those of a political, economic, business and competitive nature. These uncertainties
may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.“
“This document may also contain non-GAAP financial information. Management uses this information in its internal analysis of results and believes that this information may be informative to
investors in gauging the quality of our financial performance, identifying trends in our results and providing meaningful period-to-period comparisons.”
“In this document, “GE” refers to the Industrial businesses of the Company including GECS on an equity basis. “GE (ex. GECS)” and/or “Industrial” refer to GE excluding Financial Services.”
Messages
The environment is the toughest of our lifetime
We will earn ~$18B in 2008 … below our forecast last December … but
our growth will be ahead of the S&P 500
Our framework in 2009 is to outperform the S&P 500 with Industrial
earnings growing slightly … 0-5% … while Financial Services deliver ~$5B
We are taking actions to protect the company for the difficult
environment we project
We are driving initiatives to improve long term organic growth, expand
margins & generate cash
GE’s investor message is simple:
+ Plan to maintain $1.24/share dividend during a challenging 2009
+ Post recession … growth rate returns to long-term average of ~10%
JRI December Analyst 12-16-08/2

2008: environment
has been challenging
Financial Services industry losses
$10T+
All financial segments hit
+ Subprime + CRE
+ Corporate credit + Non-subprime
~$1T ~$1T+ + Credit cards + Consumer credit
Lots of blame … liquidity, risk
management, complex instruments,
system errors, leverage, regulators
Global expansion … every region &
sector impacted
Losses Capital Reduced
since infusion lending
3Q’07 since 3Q’07 Government programs have started
to work
+ Equity losses … $7T
Broad system shock
JRI December Analyst 12-16-08/4

Financial markets restructured
Liquidated Intervention New business model
Lehman Brothers Bear Stearns AMEX
Indy Mac Countrywide Goldman/MS
~30 banks, S&L Wachovia Insurance industry
~170 institutions on watch Merrill Lynch GMAC
AIG CIT
WaMu
Redemptions Nationalized Equity raised
Private equity Freddie/Fannie J.P. Morgan
Hedge funds Bank of America
Fortis
Money market funds Wells Fargo
U.K. banks
Mutual funds Citi
Swiss banks
Pensions under stress Goldman
German banks
GE
Fewer competitors + risk will be repriced
JRI December Analyst 12-16-08/5
We are in a recession
Status
Developed market GDP U.S., Europe, Japan
Global
economy Emerging market GDP Slower growth: ~5%
Unemployment Expect U.S. at least 8.5%
Home prices 20%+ from peak
Consumer
Confidence All-time low
Commercial/
Capital expenditures ISM, business confidence
capital investment
Usage decline IT expenditures, RPM
decline
Financial crisis … began 3Q’07
Economic downturn … began 3Q’08
JRI December Analyst 12-16-08/6

Historic inflation material cost
reduction ’95-’04 ’07/’08 Current
average peak spot
Steel ($/s. ton)
– CRC $494 $1,165 $780
– HRC 371 1,075 698
– Plate 400 1,450 1,180
Rhenium ($/lb.) 643 5,100 4,649
Natural gas ($/mmbtu) 3.45 13.58 5.53
Crude oil ($/barrel) 24.94 145.29 43.65
Copper ($/lb.) .92 3.96 1.50
Nickel ($/lb.) 3.55 23.41 4.29
Unprecedented volatility … will help 2009 cost
JRI December Analyst 12-16-08/7
Robust government actions
Program Impact
1 Liquidity programs TLGP + Guarantee improves debt pricing & market access
while reducing risk
CPFF + Liquidity backstop stabilizes CP market & re-opens
potential funding source
TALF + $200B proposed consumer/small business ABS
loan facility
2 Housing programs Mortgage + Federal Reserve will buy $600B in mortgage-related
support assets to stimulate home purchases
3 Domestic stimulus Proposed + ~$600B stimulus package … Infrastructure/eco focus
programs
4 Global stimulus Various + ~$590B China plan … Infrastructure focus
programs
+ ~$260B pan European plan … Energy & Infrastructure
Government actions are important
Pre-funded $12B of ’09 in 4Q’08
JRI December Analyst 12-16-08/8

Impact on GE
Things that still work
Known headwinds
‒ Customer financing capability + Strong backlogs
‒ Recession … ad spending, etc. + Global diversity
‒ Unemployment growing + Service predictability
‒ Credit cycle/losses + Cost out/restructuring
‒ Asset values/impairments + New financing margins
‒ FX
‒ Customer bankruptcies
New opportunities
+ Material cost out
Modeled conservatively
+ Infrastructure stimulus
but all could get worse
Our actions
Strengthen Financial Services Restructure businesses
Accumulate cash Work with governments
Increase reserves Work with customers
JRI December Analyst 12-16-08/9
2008 outlook
($ in billions – except per share amounts)
Total company outlook Segment 4Q TY S&P
Industrial (ex. C&I) 0-5% 8-10% Flat
~$185B
Capital Finance ~(65) ~(30) (100)
~$18B $1.78-1.84 C&I ~(80) ~(65)
Earnings ~$4B ~$18B
EPS incl. restructuring, Same as
higher losses & Dec. 2
other charges $.36-.42 $1.78-1.84
Revenues Earnings EPS
Decent performance in a brutal environment
Responded quickly to tough market conditions
Difficult communication challenge … 80% of S&P 500 revised guidance downward
Third highest earnings year in GE history … outperforming S&P
+ record Industrial earnings
JRI December Analyst 12-16-08/10

4Q items
($ in billions – after tax)
~$1.0-1.4B
4Q items
1 Additional losses (in segment) ~$0.5
+
Restructuring & other charges
2
Business exits 0.1-0.3
Restructuring & other charges 0.4-0.6
Restructuring, $1.0-1.4
higher losses
& other charges
Positioned for lower cost in 2009
JRI December Analyst 12-16-08/11
Strong operating model
Leadership businesses
GE has strong businesses Competitive advantage 15-year growth
Energy Infrastructure Power Gen, Wind, O&G ~15%
Technology Infrastructure Aviation, Trans., Healthcare 10+
NBCU Cable, Film 15+
Capital Finance Verticals, Mid-Market Finance 10+
+
Common operating initiatives
GE GE vs. peers
Growth as a process: Organic growth 2-3X GDP Better
Operating excellence: Margins % 15 Better
Capital efficiency % (P&E/revenue) 13 Better
Financial strength Triple A Better
Leadership development $1B Better
GE is ready for tough environment
JRI December Analyst 12-16-08/12

2009 framework
Financial reporting
1) On an annual basis we will give you our operating framework … for 2009:
+ Industrial segment growth … 0-5%
+ Financial Services earnings of ~$5B
+ Corporate/tax/pension/C&I flat
2) We have a plan to maintain the dividend at $1.24/share for 2009
+ Declared 1Q dividend of .31¢/share today
3) The long-term earnings growth rate for GE is ~10% with Financial
Services earnings at 30-40% of our total
4) We are committed to transparency (similar to 12/2 meeting) & access to
leadership
5) GE will no longer provide specific quarterly or annual EPS guidance
JRI December Analyst 12-16-08/14

’09 operating framework
Factors
’08E ’09F
Revenues +7% 0-(5)% + ~3% Industrial organic growth
‒ Shrink Financial Services (5)%, economy, credit
Industrial segment +8-10 +0-5 + Backlog, service, gov’t. investment, cost
profit (ex. C&I) ‒ Economy, credit
Capital Finance ~(30) ~$5B + Margins, cost
earnings ‒ Losses, gains, volume, FX
Corporate cost/C&I U Flat + Pension, restructuring
+ Plan to run C&I … earning about $0.3B
‒ Tax
~$18B
Critical execution
Capital Finance is well positioned Margins will expand
Maximize strong equipment backlog Service growth is stable
Dividend commitment is strong
JRI December Analyst 12-16-08/15
GE Capital Finance
($ in billions)
Earnings 2009 plan basics
‒ Expectations of higher losses and
~$9
fewer gains
+10%
~$5
‒ Collections and volume plan that
assumes no 1st half improvements
Capital and takes into account customer
Finance
refinancing risk
+ Invest @ high ROAs
+ Execute $2B (pre-tax) cost-out plan
’08E ’09F ’10F
+ Expect portfolio margins to become
positive early ’10
GECC ENI $545 $525 $515
Lvg. w/hybrids* ~7x ~6x ~6x
+ CP <$75B by end ’08 … ahead of plan
*GECC
Balanced view of 2009 … position for growth in 2010
JRI December Analyst 12-16-08/16

GECS portfolio benchmarking
(as of 3Q’08)
% of total portfolio GE position vs. banks
Lower net-charge-off rates
Asset type GE Banks*
Less consumer exposure, which has
Consumer 34% 65% higher loss rates than commercial
Commercial 66% 35%
Underweight U.S. credit risk
U.S. consumer exposure mostly PLCC
U.S. 46% 84%
which has smaller average balance,
lower loss severity & retailer loss
U.S. consumer 8% 59%
sharing vs. bank cards
- cards 4% 8%
- mortgage 0% 39% Exited U.S. mortgage; no auto & student
- auto 0% 2% loans
- student loan 0% 1%
Commercial is senior, secured positions
- sales finance/other 4% 9%
with low loss history (~40 bps. over last
15 years)
* Weighted average of top 4 U.S. money center banks
GE portfolio better positioned to weather credit cycle
JRI December Analyst 12-16-08/17
GE Real Estate core debt portfolio
($ in billions)
Core NEA by LTV Maturity by LTV*
$24.4
25
<75%
>90% 75-90%
20
$2.0 >90%
15
75-90%
<75% $9.4
$14.2 10
$24.5 $5.4
5
$1.5
0
2008 2009 2010 >2010
* Excludes owner occupied
Secured by ~2,500 properties, ~60% in $3.3B of ’09 maturities <75% LTV,
crossed pools, 1.6x debt service coverage confident our customers will refinance
$1.3B of ’09 maturities secured by U.S.
multi-family; GSEs are still active
Active asset management over 20 years
has limited losses in downturns Already collected $0.2B of ’09 maturities
Anticipate GE refinancing of ~$2.5B at
lower LTV & higher spreads
Portfolio well positioned to weather the economic downturn
JRI December Analyst 12-16-08/18

Industrial business model
($ in billions)
Industrial revenues Built for cycles
Organic
growth
~$110B
2-3X GDP Market leadership
Diversified revenue streams
Services ~70% of profitability
Positioned in themes that society cares about
High
~$50B technology spend this decade
margins
Can capitalize on lower material cost
Financial Services verticals
Low CAPEX
GE in businesses where we can influence our own destiny
JRI December Analyst 12-16-08/19
NBC Universal
($ in billions)
Segment profit Significant benefits of diversification
CAGR + Content
~$3 0/– Film & + Int’l
$0.9 $1.0
~5%
Parks
+ Ratings
+ Fees
Cable $1.3 ~20% + Advertising
+ Content
$2.1
+ Digital/DVD
Broadcast $1.4 + Content
~(33)% - Ratings
“old NBC”
’08E ’09F $0.4 - Advertising
Segment
profit % ~18% 0/– ’05 ’08E
100% basis
NBCU impacted by environment, but expect outperformance through:
Best content … cable focus International distribution
Right-sizing cost structure Improved digital profitability
JRI December Analyst 12-16-08/20

Technology Infrastructure
($ in billions)
Segment profit Dynamics
‒ Impacted by economy … lower demand
+
~$8 ‒ Credit impact on hospitals, airlines
+ Strong services & adjacencies growth
+ Global diversity/customer diversity
+ Strong backlog
+ Strong pipeline of critical products
+ Healthcare headwinds tailwinds
'08E '09F
Segment 17% + + Verticals help
profit %
Markets are tough … service & cost are mitigants
JRI December Analyst 12-16-08/21
Energy Infrastructure
($ in billions)
Dynamics
Segment profit
++ ‒ Oil at $50
~$6
‒ Financing impacts some segments
+ Services remain robust
+ Winning in right products … gas & wind
+ Strong backlog … global diversity
+ Margin expansion in all products
'08E '09F
+ Positioned for government programs
Segment 16% ++
profit %
Expect cancellations … mitigants are service,
global government investment & cost
JRI December Analyst 12-16-08/22

Industrial revenue: stress case
($ in billions)
Planned for environment Extreme stress case
Order-
2009 revenues 1) No new equipment orders in ’09
by-order
review
~$130 2) No new financing (ex. GE) for ’09 deliveries
~$110
3) Cancellations/terminations
4) 10% decline at NBCU vs. ‘08
Margin impact – $1.3B
July Today
Equip.
backlog $55 $55
Mitigants
Backlog still strong
+ Strong pipeline of commitments
Expect cancellations
+ Government stimulus
4Q equipment orders ~(10)%,
+ Project finance backlog on favorable terms
service orders 0-5%
JRI December Analyst 12-16-08/23
Financing is a competitive advantage
($ in billions)
Considerations
~$40
+ Normal risk & policy reviews
ROE 20%+
margins (GECS BOD)
+ cash
~$14
+ Strategic products &
~$10
customers
+ Focus on margins, cash,
’09 major Potential GE returns
equipment financing “capacity”
revenue required
+ Linkage with government
programs (renewable)
+ Healthcare, Energy/Wind, Aircraft
+ In this for long term
+ Build competitive advantage
JRI December Analyst 12-16-08/24

Service growth is a competitive advantage
($ in billions)
Dynamics
Service revenues
’08 ’08
$41 orders revenue
$38
$35
Aviation 9% 13% + IB growth
+ Cycles
+ Product delays
Energy 5 10 + IB growth
+ Margins
Transportation 27 7 + Global growth
+ Environment
'08E '09F '10F
Healthcare 8 8 + Outsourcing
+ IB upgrades
~30% margins
~$120B backlog O&G 24 26 + IB growth
~$8B of net income … customer based
JRI December Analyst 12-16-08/25
Value of services … Aviation
06/07/08 shipments Installed base dynamics
$90B 40% of engines have not hit first major
overhaul
7X service <1%
revenue realized
CFM 56-5B/7B shop visits +21% 2009
$13B GE90 shop visits +38% 2009
~$10MM
New aircraft delays result in installed
Equip. Services Services
base working harder … more services
revenue potential revenue
to date
Value of services
GE Customer
1 Long-term volume productivity 1 Predictable maintenance costs
2 Predictable revenues 2 Access to upgrades & improved reliability
3 New & repair sales 3 Increased engine residual value
JRI December Analyst 12-16-08/26

Margin expansion
OP % Big funnel
∆
+
Volatility & unplanned pricing ––
~15%
Pricing – deflation +
Services mix +
Restructuring +
NBCU Olympics +
'08E '09F
Margin dynamics positive in ’09
JRI December Analyst 12-16-08/27
Value gap dynamics
($ in billions)
2005-2008 2008 2009
Pricing Deflation/ Pricing Deflation/ Pricing Deflation/
(inflation) (inflation) (inflation)
$1.5 $1.6 ++
+
$(3.4) $(1.2)
‒ Massive commodity + Pricing now recovering cumulative inflation
inflation starts in ’05 &
+ Energy & Aviation price mostly in backlog
continued through ’08
+ Will accelerate into 2010
+/– Pricing started to
increase but trailed ‒ Continued pressure on Healthcare pricing
inflation
Pricing lags (inflation)/deflation cycles … positive in ’09
JRI December Analyst 12-16-08/28

Cost focus
($ in billions)
Direct material Base cost Indirect cost
$55 $53
$45 $42
$24 $22
'08E '09F '08E '09F '08E '09F
Deflation & exchange Proactive restructuring Sourcing deflation (7)%
favorability Headcount reduction Headcount impact on
Reenergized global indirect spend (3)%
Lower spend rates
supply chain
Substantial reduction in ’09 cost
JRI December Analyst 12-16-08/29
Operating framework
Worse Better
Industrial
‒ U.S. DI market + Better margins
0-5%
‒ Global cancellations + Global government
beyond expectations programs
+ Equipment sales
+ Cost control
‒ Losses/gains + High margins on new
Capital
business
@ ~$5B
+ Cost control
+ Cost control
‒ Additional Corporate
restructuring flat
JRI December Analyst 12-16-08/30

Dividend funding
($ in billions)
~$3B Cash dynamics
cushion
~$16
Industrial CFOA – CAPEX $13-14
$13.4
GECS dividend 0.5
Other/dispositions 2+
+ Working capital offset by progress
+ Balance sheet efficiency
+ CAPEX reduction
Total cash Dividends
+ Principal pension plan … no
generated
contribution in ’09
Strong cash performance in tough environment
JRI December Analyst 12-16-08/31
Team alignment
Management incentives
Business Total company
Team goals
Earnings 50% Hit ’09 plan
25% 25%
+10% by 2010
Cash Deliver cash flow
25% 25% 50%
50%
50%
2009-10 incentive programs …
management team focused on delivery
JRI December Analyst 12-16-08/32

Initiatives create
value from scale
Growth as a process
Industrial organic growth Dynamics
1) Grow services
~7-8%
+ Align with customer productivity
2) Position to win in global
2-3X GDP
infrastructure projects
+
3) Win in the big themes
4) Drive technology & innovation
'08E '09F
Our long-term investing in organic
growth will help GE in 2009
JRI December Analyst 12-16-08/34

Services = customer productivity
($ in billions)
Healthcare - HCA Transportation - China MOR
5 year $1BN services contract … Trip Optimizer/Locotrol
comprehensive asset management
Increase capacity
Improved uptime & remote fix Services growth & productivity
(CSA backlog)
Shared cost savings/year Fuel efficiency
~$130
Joint technology investment to ~$120 Modernization
drive utilization (RFID)
Energy - PG&E Aviation – SWA
'08E '09F
Information infrastructure
Deploy 3.3MM GE
Customized service agreement
smart meters by ’11
Predictable maintenance costs
Time-of-use pricing
Engine availability & cash flow
Demand reduction
planning improved
Operational
productivity
Electrical infrastructure
Cross-company initiative … helps in a downturn
JRI December Analyst 12-16-08/35
Strong global position
($ in billions)
Industrial global revenues 2009 priorities
15%
$61 CAGR
Win major infrastructure
orders
$43
Establish strategic
$26
partnerships
Build global capability in
service, technology &
manufacturing
'03 '06 '09F
% int’l. 41% 48% 54%
Scale makes GE an advantaged global player
JRI December Analyst 12-16-08/36

Global growth available
Iraq China Global rail
56 units $586B 1,600
Energy order Announced fiscal Potential
stimulus locomotives
7,000MW, value ~$3B … Rail build out India, South Africa,
21 units ship in ’09 Clean energy Kazakhstan, China
Additive to 8 units Industrial collaboration $5B orders in process
previously announced + aircraft Transportation global
Addresses immediate Healthcare expansion … growth ~25%
power needs in Iraq west & north
World governments investing $7T in infrastructure ’08-’11
JRI December Analyst 12-16-08/37
Global partnerships
+
GE is a great partner
~$40B
Build regional positions
Regional focus
Co-fund investments
Leverage GE
Business collaboration
origination
Local growth & investment
Commercial
Finance JV
Other benefits
Long-term shareholder
Valuable for all investors
GE in region … technology & education
Business collaboration
JRI December Analyst 12-16-08/38

GE solving social problems
Clean Healthcare
energy access/cost
$40B $20B
Business scope
ecomaginationsm “Early health”
Brand
Global reach
USCAP “Leapfrog”/transparency
Policy
EFS + EXIM + global HFS + EXIM + global
Financial Services
Positioned our technology to drive positive change
JRI December Analyst 12-16-08/39
Economic stimulus: clean energy
• Stimulus Push Gets Greener Tint “President-elect Barack Obama and congressional Democrats
are intensifying work on a stimulus plan that would dole out roughly a half-trillion dollars … on … an array of \"green\"
projects … green infrastructure initiatives – such as building renewable energy plants, improving the electrical grid
and installing \"smart\" meters” Wall Street Journal, December 6, 2008
• Jobs, Clean Energy are Key to Obama Stimulus Plan “Obama aide states: \"Given the
magnitude of the problems, you're going to need a large plan. Much of what we would do is double duty, with the effect
of helping aggregate demand today but also enhancing the productivity of the economy for years and decades to
come”. \"Green jobs, healthcare technology and infrastructure fit that.“ Los Angeles Times, December 6, 2008
• China's $586 billion stimulus package is its \"biggest contribution to the world,\" Premier Wen Jiabao
said Monday, as hopes rose that heavy spending on construction and other projects would help support global growth
by fueling demand for imported machinery and raw materials. AP, November 10, 2008
• European Economic Recovery Plan ”… immediate budgetary impulse amounting to 200B Euro…
and kickstart investment to modernize infrastructure. It will drive a competitive Europe ready for the low-carbon
future.” Jose Manuel Durao Barroso, November 26, 2008
JRI December Analyst 12-16-08/40

ecomaginationsm
($ in billions)
Revenues Priorities
1 Drive renewables
$25
72+ products
Production Tax Credit (PTC)
Big pipeline
improvement
$17
Federal Renewable Portfolio
Standard (RPS)
$6
2 Energy grid: big & smart
Extend grid to best wind sites
“Smart” = energy efficiency
'04 '08E '10F
3 Greening facilities/conservation
+ R&D leadership
Energy growth
+ Reputation/brand
+ Plant operations are green
4 Make USCAP a catalyst for change
+ Biggest renewable player
GE positioned as the clean energy leader
JRI December Analyst 12-16-08/41
legend
Energy framework = 10,000 jobs
National RPS Govt. stimulus actions
Multiplier
Wind
12 GW
PTC extension
28 MM tons CO2
Project financing
Grid efficiency
standards
Wind
Bigger and
5GW
12 MM tons CO2
smarter grid
Enable 20% renewables
5% grid efficiency
330 MM tons CO2
Smart
meters
Time
> 300,000 jobs
>100,000 jobs
Largest Wind provider in U.S. … 5+GW shipped in ‘08
Investing to capture smart grid growth
JRI December Analyst 12-16-08/42

Economic stimulus: Healthcare
U.S. Global
“There is a temptation for public authorities
“If we do a smart job of investing in health-
to spend less … cutting back on cancer screening
care modernization … set up electronic would lead to fewer cases being detected early,
medical records that experts consider an more suffering and deaths. “
important step towards a efficient health European Commissioner, Mrs. Androulla Vassilliou
care system. December, 2008
We've got to buy computers, systems and
\"I have identified our key priorities for the
so forth. That's an immediate boost to the coming year including tackling delays in diagnosing
economy … laying the groundwork for cancer. Work is well underway to catch more cancer
reducing our health-care costs over the cases earlier.\"
long-term.” Prof. Mike Richards, UK National Cancer Director
December, 2008
U.S. President-Elect Barack Obama
November 25, 2008 Health Minister Zhu Chen has proposed a
package of healthcare reforms with goal to cover
90% of population in 2 years & universal h/c by 2020
Focus on quality & efficiency but Continued priority … global
reimbursement under stress build out & investment
JRI December Analyst 12-16-08/43
Healthcare
($ in billions)
U.S. efficiency Global build out
International revenue
$1.8B
Gov’t.
HCIT leadership
driven
~$9 +
+ Work flow
+ Data mining
+ Connectivity $3
+ EMR leadership
'00 '08E '09F
Development partners
Developing markets double-digit growth
China returning to growth … rest of Asia,
Africa & Europe continued strong growth
Partnering with top tier medical providers In-country, for-country … value products
Improving patient outcomes at a lower cost
Company-to-country … “infrastructure sell”
Reducing variation in medical care delivery
Access & efficiency Build out for long-term growth
JRI December Analyst 12-16-08/44

Technical & content leadership
Emphasize investment 2009 focus
+ Complete major launches driving
+ energy efficiency
+ Fill out value segments at high
margins
+ Broader service & IT offerings
~$50B this decade
+ Full line of Healthcare launches
Positive in 2009
+ Drive digital, cable & global at NBCU
+ Focus on top 30 IBs … 30% of GE
Technology
revenue by 2012
spend
Maintaining commitment to technology
JRI December Analyst 12-16-08/45
New products driving customer productivity
New prime/late night schedule
MR750
Powerful … strongest whole-
Enhances NBC’s comedy brand
body gradients & cutting-
Maintains top talent for NBC
edge clinical applications
Eliminates need to program 5
Simple … most efficient
hours per week … makes 8-10 PM
scanner available – 30 sec. in
stronger
room patient set up
’09 revenue ~$130MM Improves cost position
LM6000 gas turbine Turbo prop engine
40 – 50 MW … up to 41% Lower fuel consumption
efficiency compared to turbofans on
Most efficient LM in its class for short flight
combined cycle and cogen Generates less noise than
applications turbofans
Unsurpassed package flexibility, Requires shorter take-off
diverse fuel capabilities and field length
proven advanced emissions
’09 revenue ~$800MM ’09 revenue ~$60MM
JRI December Analyst 12-16-08/46

Innovation pipeline remains intact
Smart grid Solar
Batteries
$150MM invested … Energy efficiency, Investment in thin film
lithium & sodium productivity & reliability (Prime Star)
$1B+ revenue potential $20B/year market by 2015 $1B/year revenue potential
China Aviation
Digital pathology
(COMAC/AVIC)
JV with News Corp. 50/50 JV with UPMC
Integrated civil avionics
Industry leader $2B global market … ’10
~10,000 A/C opportunity
Valuable asset product launch
Invest in growth platforms
JRI December Analyst 12-16-08/47
Operating Council
Operational focus through ’10 Priorities
Value gap
1 Cycle time improvement … lean
Material
cost out
2 Increase margins
Product
Lean
management
Global
best cost
3 Working capital & cash
Simplification
&
restructuring
Drive to best in class performance
JRI December Analyst 12-16-08/48

Working capital opportunity
($ in billions)
Balances Significant opportunity ’09/’10
1 turn improvement
~$15 ~$15
1 Inventory = $2B
~$13
Lean
~$11
Improving cycle times
Supply chain management
Receivables = $2B
2
Lean
Driving toward COE platform
Payables = $1B
Inventory Accts. Progress Payables 3
receivable Days to pay goal +10 days
Longer payment terms in
Turns 8X 7X ~50 days
tough market
$5B improvement over two years … offsets progress
JRI December Analyst 12-16-08/49
Aviation working capital
($ in millions)
Inventory Projects
$155 $(220)
$60 Engines finished goods consolidation $100
$(295)
$3.0B
Cycle improvements assembly/overhaul $45
$2.7B
Project-by-project Lean improvements mfg./repair $30
20-year supply chain veteran
NPI schedule reduction $60
Answerable to Operating Council
IAD process improvement $15
Other productivity improvements $45
2008E 2% NPI Cycle Prod. 2009
$295
sales target
growth
Driving lean across GE
Operating leaders focused on cycle time
Large opportunities to reduce working capital
JRI December Analyst 12-16-08/50

Variable cost productivity
O&G initiatives ~$135MM Energy initiatives ~$425MM
Wind blade design
Service machine efficiencies improvements
Footprint reductions Labor productivity via LCC
Quality & testing factories
enhancements 10K quality projects across 17
sites
Healthcare initiatives ~$250MM Aviation initiatives ~$350MM
Manufacturing yield Rhenium & low cost transitions
improvement Supply chain conversion
Lean install & warranty Production and system
expense enhancements
Transportation air-to-ocean
$1B+ productivity projects in progress
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Restructuring & simplification
($ in billions – after tax)
Revenue/employee up
Overhead reduction
$2B+ ($/employee in millions)
(G&A % revenues)
Drivers
+
Restructuring 12% $0.6
– Plant closures
– Consolidations 9%
– Layers $0.4
8%
Financial Services
& Industrial
Risk reduction
Restructuring
'03 '08E '09F '03 '08E '09F
& other
charges
’07-’08
Proactive restructuring & simplification
helping in current environment
JRI December Analyst 12-16-08/52

Create value through scale
Be Drive Build Leverage size
global innovation relationships & breadth
Connect locally, Lead with Grow customer Use GE's size,
scale globally technology and and partner expertise, financial
content innovation relationships capability, and brand
worldwide
54% revenues outside ~$50B technology $120B services Triple A
U.S. spend this decade backlog Company-to-country
Source 45% globally 2,000+ patents/ Driving customer Generate strong
Operate in 100+ year productivity cash flow
countries 40,000 engineers Launched Margins > peers
3 global R&D centers 100+ IB projects Mubadala JV Returns > peers
Company-to- country Leading cable Positioned to
content provider deliver solutions to
Win in big themes stimulate U.S. &
global economies
Experienced world-class leadership team
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Value creation

Portfolio + valuation
Focus Strong portfolio Valuation traits
60% Late
1 Built dominant Infrastructure
90s Today
Infrastructure
Energy Transportation
franchise
Growth >S&P >S&P
Healthcare Water/O&G
2 Diversified & Aviation Ent. Solutions
strengthen NBCU
Dividend + +
Financial
NBCU
3 Improved Financial Services
Services through
P/E 40 10
Insurance exits 30% 10%
Challenge
Continued outperformance in Industrial businesses
Reposition GE Capital around unique, competitively advantaged platforms
JRI December Analyst 12-16-08/55
Restore Financial Services value
Financial Services value chain
“Factory”
“Origination”
“Raw material” GE advantage:
(capital) GE advantage:
Low cost Treasury
GE advantage: Global position
Competitive cost Risk Asset Mgmt. Brand
“Triple A” Domain expertise
Talent Tax
Competitive position:
+ Scale ++ Margins and results > banks + FinCo +++ Brand/domain
Ongoing: 30-40% GE earnings
+ Remix … focus on margins + Play when GE > banks
+ Smaller … funding criteria/derisk + Returns of 15%+
+ Build off ’09 base … consistent & conservative
JRI December Analyst 12-16-08/56

Capital allocation thoughts
Cash Priorities
1
Top Invest to grow GE Industrial organically
Cash Position already strong … 2-3X GDP
~$16B
2 Maintain the GE dividend ($13B+)
Equity raise
40% retail + 40% value investors
~$15B In
7% yield with strong balance sheet
+ plan
3 Execute on Financial Services plan
Collections > Strengthen balance sheet ($5B+)
originations Debt reduction ~$50B
$25B Cash & bank lines > CP
+
Next Industrial acquisitions (TBD)
4
Annual ops. Only if “top 3” priorities are satisfied
~$16B
Last 5 Share buyback (TBD)
Balance sheet
dynamics 6 Financial Services origination > plan (TBD)
Financial P/E ≠ Industrial P/E
Support dividend … still hit long-term growth rate
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Leadership
In the right businesses
Financial strength

Summary
Giving investors transparency around our operating framework
1
+ ~$5B in Financial Services, Industrial slightly positive (0-5)%, Corporate flat
+ Sustain access & details around segments
Commitments in a world of low transparency
2
+ Plan to maintain $1.24/share annual dividend
+ Post recession growth rate of ~10%
Position to benefit as broad economy recovers
3
+ Government investment + Services
+ Margin enhancement
Execute on long-term strategy that creates value from scale
4
+ Be global + Build relationships
+ Drive innovation + Leverage size & breadth
Transforming Capital Finance into smaller, more profitable,
5
competitively advantaged franchise
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