GE AEROSPACE AND BETA TECHNOLOGIES PARTNER TO ADVANCE HYBRID ELECTRIC FLIGHT

• Companies to co-develop hybrid electric turbogenerator for defense and civil applications, enabling U.S. Advanced Air Mobility
• Hybrid electric capabilities enable longer range, higher speed, lower operating cost and higher payload compared to other aircraft in the same segment
• GE Aerospace to make an equity investment of $300 million in BETA Technologies, Inc.

GE Aerospace (NYSE:GE) and BETA Technologies Inc. ("BETA") announced today a new strategic partnership and equity investment agreement, subject to regulatory approval, to accelerate the development of hybrid electric aviation by combining BETA's rapid innovation approach with GE Aerospace's global scale and experience.

Under the new agreement, GE Aerospace and BETA plan to develop a hybrid electric turbogenerator for Advanced Air Mobility (AAM) applications, including long-range Vertical Takeoff and Landing (VTOL) aircraft, future BETA aircraft, and other potential applications. The collaboration brings BETA's expertise in high-performance, permanent magnet electric generators together with GE Aerospace's tested turbine, certification and safety expertise for large-scale manufacturing and electrical power systems expertise.

This hybrid solution will tap into existing infrastructure and capabilities, such as GE Aerospace's CT7 and T700 engines, and is expected to bring significant enhancements in range, payload and speed performance compared to other aircraft in the same segment.

Additionally, GE Aerospace will make an equity investment of $300 million in BETA, subject to regulatory approval, aligned with its commitment to work with key industry players to advance technologies that will support the future of flight. In connection with this partnership, GE Aerospace will also have the right to designate a director to join BETA's Board.

GE Aerospace Chairman and CEO H. Lawrence Culp, Jr. , said, "Partnering with BETA will expand and accelerate hybrid electric technology development, meeting our customers' needs for differentiated capabilities that provide more range, payload, and optimized engine and aircraft performance."

Kyle Clark , BETA Technologies' Founder and CEO, said "This partnership brings together two teams deeply committed to and guided by aerospace engineering excellence and building the future of flight. We believe the industry is on the precipice of a real step change, and we're humbled that GE Aerospace has the confidence in our team, technology, and iterative approach to innovation to partner with us. We look forward to partnering to co-develop products that will unlock the potential of hybrid electric flight, and to do it with the rigor, reliability, and safety that aviation demands."

GE Aerospace is advancing a suite of technologies for the future of flight, including integrated hybrid electric propulsion systems and advanced new engine architectures. Multiple milestones have been achieved over the last decade, including a 2016 ground test of an electric motor-driven propeller. In 2022, GE Aerospace completed the world's first test of a megawatt-class and multi-kilovolt (kV) hybrid electric propulsion system in altitude conditions up to 45,000 feet that simulate single-aisle commercial flight.

BETA has led the AAM industry in electric flight distance and hours flown generating valuable real-world data. BETA's aircraft are engineered for all-weather performance and have been tested to operate reliably in a wide range of environmental conditions across the U.S. and Europe . ALIA's electric propulsion and battery systems — which are developed in-house — offers reliable, high-tempo performance, as well as a quieter sound profile than conventional aircraft. Together, GE Aerospace and BETA will collaborate to develop an additional offering to enable the AAM industry.

About GE Aerospace
GE Aerospace is a global aerospace propulsion, services, and systems leader with an installed base of approximately 49,000 commercial and 29,000 military aircraft engines. With a global team of approximately 53,000 employees building on more than a century of innovation and learning, GE Aerospace is committed to inventing the future of flight, lifting people up, and bringing them home safely. Learn more about how GE Aerospace and its partners are defining flight for today, tomorrow and the future at www.geaerospace.com .

About BETA Technologies, Inc.
BETA Technologies, Inc. is an aerospace company designing, manufacturing and selling high-performance electric aircraft, advanced electric propulsion systems, components and charging systems to top global operators. BETA's aircraft platform, ALIA, consists of two variants — a conventional fixed-wing electric airplane ("ALIA CTOL") and an electric vertical takeoff and landing aircraft ("ALIA VTOL"). In addition, BETA is deploying its charging infrastructure to enable the industry, with more than 50 sites online across the U.S. and Canada . BETA is committed to developing its's highly scalable technologies to allow for cost-effective and safe missions across cargo and logistics, defense, passenger and medical end markets. The portability of BETA's technologies and systems across various aircraft and industries unlocks flexibility and innovation for generations to come. For more information, please visit www.beta.team .

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SOURCE GE Aerospace