Electrical Products Group

J. R. ImmeltChairman & CEO

May 19, 2009"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 financial condition, and often contain words such as “expect,” “anticipate,” “intend,” “plan,” believe,”“seek,” “see,” or “will.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For us, particular uncertainties that could cause our actual results to be materially different than those expressed in our forward-looking statements include: the severity and duration of current economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets; the impact of U.S. and foreign government programs to restore liquidity and stimulate national and global economies; the impact of conditions in the financial and credit markets on the availability and cost of GE Capital’s funding and on our ability to reduce GE Capital’s asset levels and commercial paper exposure as planned; the impact of conditions in the housing market and unemployment rates on the level of commercial and consumer credit defaults; our ability to maintain our current credit rating and the impact on our funding costs and competitive position if we do not do so; the soundness of other financial institutions with which GE Capital does business; the adequacy of our cash flow and earnings and other conditions which may affect our ability to maintain our quarterly dividend at the current level; the level of demand and financial performance of the major industries we serve, including, without limitation, air and rail transportation, energy generation, network television, real estate and healthcare; the impact of regulation and regulatory, investigative and legal proceedings and legal compliance risks; strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses; 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.”

“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.”

Weathering the recession

JRI EPG 05-19-09/3

1Q’09 performance

GE Infrastructure 11%

S&P industrials (38)

NBCU (45)

S&P media (29)

Capital Finance $1.1B

S&P financials –

EarningsV%

Strong relative performance

� Maintained backlog … orders (10)%

� Solid cost out … more restructuring

� Increased transparency … Capital Finance

� Resolved rating

JRI EPG 05-19-09/4

EnvironmentPositive signsEconomic downturn continues

– Global recession

– Unemployment continues to increase

– Commercial credit cycle will be difficult

– Weak consumer/business confidence

– Long cycle equipment orders pressured

+ Parts of the globe still robust …China, Middle East, Latin America

+ Broad deflation should help margins

+ Customer usage helps services growth

+ Stimulus momentum

+/– Capital markets improving

Continued caution

JRI EPG 05-19-09/5

Company total year framework

Energy ++ �

Infrastructure

Technology + �

Infrastructure

NBCU 0/‒ —

Capital Finance $5 Profitable

Corporate/C&I Flat �

Dec. 16 Today Comments

• Global growth

• Aviation on track• Healthcare pressured

• Advertising market weak• Tough comps

• Costs lower • Tax benefits

• C&I on track• Costs lower• Additional restructuring planned

JRI EPG 05-19-09/6

Capital Finance

Pre-tax, pre-provision ~$13.3 ~$11.1 ~$9.2

Credit costs (9.7) (11.5) (13.7)

$3.6 $(0.4) $(4.5)

Capital Finance earnings ~$5.0 ~$2.0-2.5 ~$0

GECC ratios (%) – 4Q’09ETCE/TA 6.9 6.4 6.1

Estimated Tier 1 common 7.7 7.2 6.9

Originaloutlook

Fed.base case

Fed.adverse case

2009 stress case update

� 1Q credit losses & impairments running at slightly better than Fed. base case … leading indicators still tough

� Adequate capital … current scenarios do not require external capital� Analyst meeting July 28 … will review 2Q & early look at 2010 stress case

($ in billions)

JRI EPG 05-19-09/7

InfrastructureDynamics

� Managing through a difficult environment� Maximize services, emerging markets, stimulus & cost out

($ in billions segment profit)

+ –

Oil pricesServicesEmerging marketsStimulusMargins

CreditGlobal economy

'08 '09E

$6.1++

Energy

'08 '09E

$8.2 +

TechnologyServicesEmerging marketsStimulusCost out

CreditAir freightU.S. diagnostic imagingU.S. rail loadings

JRI EPG 05-19-09/8

NBCU

+ Double digit growth in Cable

+/– Film and Parks mixed

– Broadcast advertising pressure … realizing savings from ’08 actions

– Restructuring

'08 '09E

$3.1-

($ in billions – segment profit)Upfront outlook

'08 '09E

‒ Expecting market to reflect recessionary pressure+ Across-the-board strength in Cable+ Great content/ratings in Cable News, CNBC,

NBC News, Sports+ New content in primetime … strong digital platform+ Comedy is key … Leno launch+ “Advertiser friendly” approach� Historically post-recession scatter offsets smaller

upfront

+ Cable– Network(10)-(15)%

$4B

Cable strength & breadth of portfolio help offset recession impact

JRI EPG 05-19-09/9

Executing through the recession

+ Solid funding plans

+ Margins on new origination

+ Strong capital ratios

+ Protect backlog

+ Growth with stimulus

+ Services strength

+ Global orders

+ Lower cost

+ Strong cash generation

+ Maximize financial flexibility

StabilizeCapital Finance

Outperformingin a

tough economy

Strengthen thebalance sheet+ +

JRI EPG 05-19-09/10

Solid funding plans

� Credit ratings … Double A stable� ~$30B cash … earnings impact

($ in billions)

� Collections > originations … ~$25B

� CP at $50B by year end

� Bank lines > CP

� $8B+ non-guaranteed

� TALF securitization

Maturities

$69

Debtissuances

~$45

2009

� Collections > originations … ~$25B

� Pre-fund in 2009 ($7B done)

� Strengthening ILC

Maturities

$67

Debtissuances

~$40

2010

7

JRI EPG 05-19-09/11

Solid new margins

Valuable franchises … operating in today’s economy

($ in billions)

Commercial Finance volume

1Q'09 TY'09 ROI

$7.3

~$50-55 3-4%

� Strong commercial rhythm

� Increasing customer touch points

� Proposals � 9X vs. 1/1/09 … conversion rate � 4X in Americas

Capital allocation

CLL � + Demand strengthening+ Bulk buy+ New originations ROI … 3%+

Verticals � + Sale leaseback(GECAS/EFS) + Restructuring

+ New originations ROI … 5%

Global � + Solid profit … Garanti +44%banking + Funding improving

U.S. � + ’08+ underwriting solidconsumer + Margins > losses

1Q positiveearnings

JRI EPG 05-19-09/12

Industrial earnings outperform

GE has advantages

($ in billions)

Huge backlog

� Timing of recovery� Customer credit� Impact of regulation

What we can control

120

~$170

50

Services

Equipment

+ Protect our backlog� $10B of financing … <$1B in 1Q� Robust CSA

Uncertainty

+

Orders

+

–

� Maximize impact of stimulus� Invested $50B R&D this decade� Partner in green Energy, Infrastructure,

Healthcare

+ Leverage our unique business model� Company-to-country� Services

+ Aggressively repositioning cost structure

JRI EPG 05-19-09/13

Global stimulus

U.S. Brazil

U.K. China

Germany Canada

France Japan

EU Saudi Arabia

Energy 157 $94

Healthcare 126 32

Other 136 66

419 $192

Target regions Built process & pipeline

#projects $B

Government targets

� “Green” technology

� Infrastructure

� Rural healthcare

� Healthcare IT

� Export finance/R&D

+ $0.4B GE content

+ Partner … FP&L, Cisco

+ Biggest demo

+ 1,000 jobs

+ $0.2B GE content

+ French financing

+ Build IB

+ 250 jobs

Accelerate projects

Smart Grid – Miami Pakistan power grid + Sodium battery (NY)

� 2011 commercialization

�Customer demand

� 350 direct & thousands indirect

Accelerate technology

JRI EPG 05-19-09/14

'08 '09E

Robust service model

~$8B of earnings … higher visibility

($ in billions)

Growth

$35

CSA 120 +Margins + +

+

Energy + � + + F turbine outages �

O&G + + + + IB growth

Aviation + – + + CFM/GE90 shop visits �

Healthcare + – + + Customer outsourcing

Transp. + – + – Environmental services

’09 profitgrowth Market

GEIB Usage

Drivers

JRI EPG 05-19-09/15

'08 '09E

Win the big global orders($ in billions)

Global Industrial revenue

~$60+

� China growth15-20%+ Execute on stimulus … Rail+ Healthcare growth+ East to west pipeline (O&G)

� India election outcome is encouraging

� Execute on big Energy projects+ Iraq on track + Environmental+ O&G resurgence + MEA growth

� Leverage global partnerships+ Aviation … Middle East

+ JV with government railroad+ 1,700 Class I locomotives+ Service franchise+ Local production in 2010+ Ship to new regions

Kazakhstanrail

$1B+

’10F-’13F

JRI EPG 05-19-09/16

'08 '09E '10F

Lower cost

� Plan for more restructuring … headcount & footprint �

� Indirect deflation� Lower spend

� Lower commodity costs� Global sourcing� Supply chain excellence

Strong cost momentum into 2010

'08 '09E '10F

Base cost

($ in billions)

$40$44

–

Material deflation

1%(2)%

4-5%

JRI EPG 05-19-09/17

Strong cash generation($ in billions – Industrial CFOA)

Dynamics

$14-16

GE teams targeting working capital upside

‒ Progress collections ’09/’10 headwind up to $5B

+ Offset by working capital improvements� Inventory � $2B� Receivables � 2� Payables � 1

+ Lean is driving results

Inventory turns 6.2 6.9Receivables turns 4.2 4.6Payables days 76 86

Divest & other ~$2B

+ $1B cashsavings

’08 ’09EAviation

� GE working capital opportunity … 1 turn = ~$5B+

JRI EPG 05-19-09/18

Financial flexibility

GE has strong operating processes & balance sheet …no need to raise external capital in world we see today

Raise equity Cut dividend More cash on hand

Reduce CP Reduce leverage Absorb losses

1 2 3

4 5 6

4Q’08

$15B

’09E-’10F

~$13B

3Q’08

$16B

1Q’09

$47B

1Q’08

$102B

1Q’09

$58B

GECC TCE/TA

6.6%

’08 + ’09

$17-20B

JRI EPG 05-19-09/19

GE in recession

1

2

Stabilize Capital Finance

Industrial earningsoutperform

Strengthen the balance sheet

� Weather the losses� Stabilize funding� New margins� Adequate capital� Increased transparency …

analyst meeting 7/28

� Protect backlog� Maximize stimulus� Services� Global reach� Lower cost

� Strong cash generation� Conservative approach

3

Leading in areset world

JRI EPG 05-19-09/21

Our view of reset world

� Dramatic change in Financial Services

� Increased role of global governments

� Slower developed world economic growth

� Highly differentiated global growth

� Trust is low … corporations getting more scrutiny

Smaller Capital Finance

Positive engagement

Play in big marketsOrganic growthServices

Focus “resource rich,”China & India

Build brand & culture

For GEDynamics

JRI EPG 05-19-09/22

The future for GEGrowth

+ Reposition Capital Finance

+ Invest in growth businesses

Profitability

Revenue~$125

Assets~$400-450Financial

Infrastructure& Media

+

+ Launch new technologies+ Expand services growth+ Position in fast growth regions+ Win in big themes

More valuable portfolio Organic growth 2-3X GDP1 2

Strategic imperatives

1.5-2.0%ROI

Margins 15-20%

Cyclical & strategic

2-3X GDP

($ in billions)

JRI EPG 05-19-09/23

More valuable portfolio

Top P&Ls

Market attractiveness

Long term focus on improving industrial growth rate

Partner tomaximize value …

Nuclear

Divest to createvalue … Homeland

Security

Portfolio

Renewable energyAvionicsOil & GasHCIT/Life SciencesServicesCable/int’l./filmWater/ES

Build business ($40B)

Reinsurance/FGICFinancial AssurancePlastics/SiliconesIndustrial Supply4 TV Stations

Timely exits ($60B)

GE competitiveadvantage

JRI EPG 05-19-09/24

Reposition Capital Finance

Profitable franchise

Future

� Domain-based verticals� Align with brand� Origination + risk� Competitive with banks

Today

Assets $540 ~$400-450

($ in billions)

Core55%

Global banks15%

Verticals15%

Restructuring15%

Core &verticals85%

Global banks15%

Strong GE connection

�Mortgages�EquipmentServices

�Some consumer

� Lower leverage … more regulation

� “Low stress” funding … diversified

� Fewer competitors

Fit with the era

Valuable franchise withstrategic flexibility

JRI EPG 05-19-09/25

Launch new technologies

Big pipeline in place

� Broad technical & content leadership in big industries+ Energy+ Healthcare+ Media

� Build unique systems that utilize breadth+ Smart Grid

� Bring big impact GRC-brand technologies to market

Technology investment(2000-2009)

Product Content

� Global position

� Stimulus support

$50

$40

($ in billions)

Consistent investment over the past decade …multiple new platforms launching in 2009-10

20,000+patents

JRI EPG 05-19-09/26

Broad based Energy leadership

“Green Industrial”

Clean coal Electrification

ABWR/ESBWR

Base load Renewables Oil & Gas

Wind

“Integrated riser”

Billions of GE content in each plant

World’s biggest renewables business

Technicalleadership in O&G

Solar

� Launching thin film

� Launching 2.5MW

� Global growth

Only U.S.

basedplayer

Duke-GEfirst plantin 25 yrs.

�Water reuse�Waste heat recovery

� $2B+ opportunity

JRI EPG 05-19-09/27

Broad based Healthcare leadershipPathology toolsMolecular imaging pipeline

� GE leading in neuro-imaging agents

� Compounds being developed for Alzheimer’s & Parkinson’s

� Therapy being developed with pharma components

� Automating labs with digital tools

� Software engineering co-located with clinical pathologists

�Molecular screening

RL

Portable ultrasound Value MR

� Innovative point-of-care diagnostics

� Portable “at bedside” ultrasound with exceptional image quality

� 20% � cost vs. current low-cost, compact U/S

� High performance, low total-ownership-cost 1.5T MR

� Simplified features easy for new users to learn

� 65% population minimal access to MR … big opportunity

Innovation at all price points

JRI EPG 05-19-09/28

Strong NBCU content across all platformsGlobal cable channels

Comedy

� Enhances NBC’s comedy brand� Ground breaking change in broadcast TV model … eliminates need to program 5 hours per week … should make 8-10 p.m. stronger

� Significant channels growth from 14 in early ’07 … to 67 now … to ~80 planned by 2010

� Distributed throughout Asia, Western Europe, U.K., Latam and CEE/Russia

Cable

� Continue development of original series for cable via Universal Cable Productions

� Position cable as next generation “broadcast nets”… opportunity to grow price

Digital: hulu provides premium online leadership

� Continue franchise/event focus with strong comedy � Grow family offerings … 1st illumination title, Despicable Me, in ’10

Film

Robin Hood

Get Him to the Greek

Despicable Me

Funny People

Public Enemies

JRI EPG 05-19-09/29

System leadership: Smart Grid

$5B Smart Grid opportunities

Smart Grid

Home energy management

� C&I products >85% of energy & peak load in a home

� Enable consumer end of Smart Grid

Smart appliances

� Enable peak savings without affecting consumer life-style

Hybrid electric water heater

� Combines energy savings technology with traditional system

� Same amount hot water at 50% less energy

Delivering the solutions today…

� Key enabling technology for renewables & PHEV

� Driving grid efficiency/ optimization while reducing carbon footprint

JRI EPG 05-19-09/30

“GRC-led” technologies

IGCC & Co2 sequestration Sodium battery

� $150MM invested� Second generation leadership in locomotives� Broad customer interest� $1B+ opportunity

Military helicopter (GE 38) Airborne electric power

� Advanced materials

� 10% lower fuel consumption; 50-80% operations & support cost advantage

� $2B+ market opportunity

� Electric loads increasing … 2x – 4x

� Electrification technology can improve reliability, system cost, performance & safety

� $5B+ GE opportunity

� Lower cost than pulverized coal

� Sites plentiful … regulatory challenges remain

� GE opportunity … $0.7B/plant

Utsira formation(Saline aquifer)

Natural gas field

~1 km

CO2 injection

JRI EPG 05-19-09/31

Expand services growthKey strategiesRedefine boundaries

Growthrate

Margins

2-3X GDP 25-30%+ Grow the installed base

� Global & new technologies

+ Expand adjacent content …increase $/installed base� Software driven� Sensors are a big advantage

+ Expand beyond the installed base� Workflow & IT

+ Increase customer touch & productivity tools~75% of GE

Industrial earningsGoal: increase ourservice growth rate

JRI EPG 05-19-09/32

Growing the installed base: EnergyNew product: WindGlobal footprint: Saudi Arabia

� Remote monitoring

� Upgrade kits

� Grid efficiency

� Built services shop

� Launch proprietary technology

� Fuel flex

Competitive advantage Incremental growth

Turbinesinstalled2006-10F

Long-termservicerevenue

150+ $2B+

Windinstalls2006-10F

Long-termservicerevenue

11K+ $1B+

JRI EPG 05-19-09/33

Healthcare: services beyond the IB

+ Expand share in EMR & HIE+ Expand clinical offerings+ Grow globally

+ Expand asset management+ Leverage lean � care delivery+ Drive technology enabled

patient flow solutions+ $1-5MM+ opportunity per

hospital

Market is ready for expanded GE approach

Healthcare IT$17B

Growth:8%+

HealthcareSolutions$18B

Growth:7%+

$35B

Hospital enterpriseHealth InformationExchange (HIE)Physician officesClinical systems

Asset managementCare delivery excellenceCulture driven performanceService line innovationConsumables

Segments GE today Focus

~$1.5

~$1.0

($ in billions)

Market driver:customer

productivity

JRI EPG 05-19-09/34

Position for global growth

Differentiated global strategy

Growth

Build on strong positions in resource rich regions

($ in billions – Industrial revenue)

2008

Resource rich

China/India

Developed(Europe/Japan)

~$60

22

10

28

++

++

–

Priorities

Sustain strong customer relations with global team

Localize & build for long-term growth

Leverage reputation asworld’s best partner

JRI EPG 05-19-09/35

New partnerships � in region/for world

�Commercial Finance JV imminent

�AVO partnership finalized

� Ecomagination Centre of MasdarCity

�Growth in Aviation & Energy

�Healthcare IT partnership

� Jointly funded R&D

�Capabilities aligned to regional & global needs

“China SOE game changers”

� Build O&G compressors/pumps & expand to local segments

� Partner to build civil aviation systems for China’s next generation of commercial aircraft

� Diesel engines & spare parts; explore e-loco partnership & adjacencies

� Co-development of Smart Grid products and technologies

Energy

Aviation

Rail

Oil & Gas

Goal: partner with national champions locally … go global together

JRI EPG 05-19-09/36

Win in big themes

“Affordable healthcare”“Clean technology”

“Green is green” “Health is wealth”

� Play in world’s biggest markets� Utilize GE’s broad capabilities� Drive technology & innovation� Benefits … customer, investor, employee, public

ecomagination + healthymagination

JRI EPG 05-19-09/37

Position in essential themes

Lead in clean energy

$17

~$25

$6

'04 '08 '10F

Revenues

� R&D leadership

� Reputation/brand

� Saved $0.5B by reducing carbon footprint

� Customer partnerships

� 72+ products� Big pipeline

ecomagination($ in billions)

JRI EPG 05-19-09/38

For customersInvest $6B to launch 100+ innovations that lower cost, increase access and improve quality by 15%. Focus on efficient technologies, healthcare IT, more access and consumer-driven health

For employeesDrive better employee health through “Healthy Worksite” program to increase wellness and competitiveness; target annual cost increases to less than rate of inflation (CPI)

For investorsAchieve long-term healthcare organic growth of 2-3x GDP; grow healthcare “value gap” from $500MM today to higher levels in the future

For publicBe transparent … partner with others … engage thought and policy leaders

Utilize GE’s technical breadth, global position & financial strengthto support healthcare with cost, access & quality targets

'08 '09E '15F

� Get ahead of healthcare changes

� Build the GE brand

~$0.5B+

++

GE value:healthcare earnings –cost of healthcare

healthymagination

JRI EPG 05-19-09/39

Strong leadership team

P&L leadershipFunctional excellence Strong culture

Engineers

� Sciences depth

� Product discipline

� Systems capable

�Global integration

� Benchmark

35,000

�Deep domain�Globalization� Financial accountability

235

60

Bench Leaders

� Top 500 leaders

+ 20 years with GE

+ Global & diverse

+ Long term comp

+ High retention

+ Domain experts

Cornerstone of execution Know how to win Committed to win

Function by function:continuous improvement

Creating value

JRI EPG 05-19-09/41

GE metrics vs. peer group2008 industrial organic

revenue growth

GE

Peers

4

8(%)

2008 margins

GE

Peers

14.615.6

(%)

2008 return on capital

GE

Peers

12.1

14.8(%)

2008 revenue per employee

GE

Peers

294

566($K)

Peers include Whirlpool, Disney, News Corp., United Technologies, Honeywell, Siemens, Philips, ABB, Rolls Royce, Alstom

2X

+270 bps.

+100 bps.

2X

JRI EPG 05-19-09/42

Creating value

A better GE

2008 Cycle New world

� Restore value in Financial Services

+ High return growth

+ Strong competitive position

� Outperform in Industrial

+ Better organic growth

+ Lower cost/higher margins

+ More services

+ Strong cash flow

Financial

Industrial

~$18B

Profitable

8

10 +0-5%

~1.5-2.0%ROI

+

Priorities

JRI EPG 05-19-09/43

What the world needs

+ Access to affordable, �

quality healthcare

+ Clean, renewable energy �

+ National productivity �

through low cost

transportation

GE

+ Content incredibly valuable �

+ Mid-market financing for small �

to medium sized companies

+ Capital to build infrastructure �

in growing communities

GE

GE will continue to provide products, services &financing to solve world’s toughest challenges