Trian Fund Management, L.P., one of the largest stockholders of General Electric Company (NYSE:GE), with beneficial ownership of approximately 66.8 million shares, issued the following statement regarding its recent discussions with GE as detailed in the company’s Form 8-K filed today:

“Trian invested in GE in 2015 because we liked its industrial businesses, appreciated the initiative to separate GE Capital, and believed management would meet its public commitment to shareholders to earn $2.00 per share in 2018. Over the past month, Trian has intensified its dialogue with senior management regarding new initiatives to help ensure that GE can meet its financial commitments. We are pleased with the new framework that GE announced today.

Trian believes GE’s commitment to reduce Industrial structural costs1 ratably over the next two years from $24.9 billion in 2016 to $22.9 billion in 2018 will help to improve long-term operating performance by further simplifying and streamlining the organization and is critical to ensuring that the company achieves its financial goals. We also believe that the 2017 Industrial operating profit target announced today is important because it requires management to achieve its EPS targets in a high quality manner (i.e. via Industrial operating profit growth). Furthermore, we believe that the changes to the executive management team’s existing compensation packages along with the company’s commitment to review its framework for 2018 compensation (with a goal to align incentives around the financial metrics that most directly impact the creation of long-term shareholder value) is positive for shareholders. At this critical juncture, Trian believes that today’s announcements better position GE for the long-term and help to ensure GE will achieve its financial goals. We will continue to hold management accountable to its commitments.”

About Trian Fund Management, L.P.

Founded in 2005 by Nelson Peltz, Ed Garden and Peter May, Trian Fund Management, L.P. is a highly engaged shareowner that seeks to invest in high quality but undervalued and underperforming public companies and to work collaboratively with management teams and boards of those companies to execute operational and strategic initiatives designed to drive long-term sustainable earnings growth for the benefit of all stakeholders.

DISCLAIMERS

The views expressed in this press release represent the opinions of Trian Fund Management, L.P. (“Trian”) and certain of the funds and investment vehicles it manages (collectively, “Trian Partners”) as of the date hereof and are subject to change without notice. Such views and opinions are based on publicly available information as of the date hereof with respect to General Electric Company (the "Issuer"). Trian recognizes that there may be confidential information in the possession of the Issuer that leads the Issuer to disagree with Trian’s conclusions.

Certain financial information and figures referenced in this press release have been derived or obtained from filings made with the Securities and Exchange Commission (“SEC”) or other regulatory authorities and from other third party reports. Neither Trian Partners nor any of its affiliates shall be responsible or have any liability for any misinformation contained in any third party, SEC or other regulatory filing or third party report. There is no assurance or guarantee with respect to the prices at which any securities of the Issuer will trade, and there can be no assurance or guarantee of the impact of any strategies or operating initiatives suggested by Trian on the actual results or performance of the Issuer. Trian reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Trian disclaims any obligation to update the data, information or opinions contained herein.

This press release is provided merely as information and is not intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy any security. The information provided in this press release is not intended as investment advice or a recommendation to buy or sell any type of investment, or as an opinion on, or a suggestion of, the merits of any particular investment strategy. Funds and accounts managed by Trian currently have a significant interest in shares of the Issuer. These funds and accounts are in the business of trading—buying and selling—securities, and they intend to continue trading in securities of the Issuer. You should assume that one or more of such funds or accounts will from time to time sell all or a portion of their holdings (in open market or privately negotiated transactions or otherwise), buy additional shares or economic interests in such shares (in open market or privately negotiated transactions or otherwise), engage in hedging or similar transactions with respect to such shares or trade in options, puts, calls, swaps or other derivative instruments relating to such shares, regardless of the views expressed in this press release. Consequently, Trian Partners’ beneficial and/or economic ownership of Issuer’s common stock is expected to vary over time depending on various factors, with or without regard to Trian’s views of the Issuer’s business, prospects or valuation (including the market price of the Issuer’s common stock), including without limitation, other investment opportunities available to Trian, concentration of positions in the portfolios managed by Trian, conditions in the securities markets and general economic and industry conditions. Trian also reserves the right to take any actions with respect to investments in the Issuer as it may deem appropriate, including, but not limited to, communicating with management of the Issuer, the Board of Directors of the Issuer, other investors and stockholders, stakeholders, industry participants, and/or interested or relevant parties about the Issuer or seeking representation on the Board of Directors of the Issuer, and to change its intentions with respect to investments in the Issuer at any time.

This press release contains forward-looking statements. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words “anticipate,” “believe,” “expect,” “potential,” “opportunity,” “estimate,” “plan,” and similar expressions are generally intended to identify forward-looking statements. The projected results and statements contained in this press release that are not historical facts are based on current expectations, speak only as of the date of this press release and involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such projected results and statements. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Trian. Although Trian believes that the assumptions underlying the projected results or forward-looking statements are reasonable, any of the assumptions could be inaccurate and, therefore, there can be no assurance that the projected results or forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the projected results and forward-looking statements included in this press release, the inclusion of such information should not be regarded as a representation as to future results or that the objectives and initiatives expressed or implied by such projected results and forward-looking statements will be achieved. Trian will not undertake and specifically declines any obligation to disclose the results of any revisions that may be made to any projected results or forward-looking statements in this press release to reflect events or circumstances after the date of such projected results or statements or to reflect the occurrence of anticipated or unanticipated events.

1 Per GE’s 3/22/17 8-K, Industrial structural costs include segment structural costs excluding the impact of business acquisitions and dispositions, plus total Corporate operating profit excluding non-operating pension costs, restructuring and other charges and gains.

Trian Media/Investor Contact:Anne Tarbell212-451-3030atarbell@trianpartners.com

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