\par\pard\plain\fs16 {\trowd\cellx793\cellx10386\trrh500 \pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\b\ql Baker Hughes Incorporated News Release\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\b\qr Page 8\cell{ {\trowd\clvertalb\cellx5101\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10757\trrh281 {\trowd\clvertalb\cellx5177\clvertalb\cellx5344\clvertalb\cellx6477\clvertalb\cellx6617\clvertalb\cellx7121\clvertalb\cellx7288\clvertalb\cellx8421\clvertalb\cellx8561\clvertalb\cellx9064\clvertalb\cellx9344\clvertalb\cellx10475\clvertalb\cellx10755\trrh281 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell{ \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (66\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 13\cell ), along with the following risk factors and the timing of any of these risk factors:\par\pard\plain\cf1\f51\fs22\qj The pending transaction between Baker Hughes and GE - that one or more closing conditions to the transaction,\plain\cf1\f51\fs22\qj including certain regulatory approvals, may not be satisfied or waived, on a timely basis or otherwise, including that a\plain\cf1\f51\fs22\qj governmental entity may prohibit, delay or refuse to grant approval for the consummation of the proposed transaction,\plain\cf1\f51\fs22\qj may require conditions, limitations or restrictions in connection with such approvals or that the required approval by\plain\cf1\f51\fs22\qj the stockholders of Baker Hughes may not be obtained; the risk that the proposed transaction may not be completed\plain\cf1\f51\fs22\qj in the time frame expected by GE or Baker Hughes, or at all; unexpected costs, charges or expenses resulting from\plain\cf1\f51\fs22\qj the proposed transaction; uncertainty of the expected financial performance of the combined company following\plain\cf1\f51\fs22\qj completion of the proposed transaction; failure to realize the anticipated benefits of the proposed transaction, including\plain\cf1\f51\fs22\qj as a result of delay in completing the proposed transaction or integrating the applicable businesses; the ability of the\plain\cf1\f51\fs22\qj combined company to implement its business strategy; difficulties and delays in achieving revenue and cost synergies\plain\cf1\f51\fs22\qj of the combined company; inability to retain and hire key personnel; the occurrence of any event that could give rise\plain\cf1\f51\fs22\qj to termination of the proposed transaction; the risk that stockholder litigation in connection with the proposed\plain\cf1\f51\fs22\qj transaction or other settlements or investigations may affect the timing or occurrence of the contemplated transaction\plain\sa198\cf1\f51\fs22\qj or result in significant costs of defense, indemnification and liability.\par\pard\plain\cf1\f51\fs22\qj Restructuring activities - the ability to successfully implement and adjust the restructuring activities and achieve their\plain\sa198\cf1\f51\fs22\qj intended results, including the success of our North America land pressure pumping business venture.\par\pard\plain\cf1\f51\fs22\qj Economic and political conditions - the impact of worldwide economic conditions; the effect that declines in credit\plain\cf1\f51\fs22\qj availability may have on worldwide economic growth and demand for hydrocarbons; the ability of our customers to\plain\cf1\f51\fs22\qj finance their exploration and development plans, coupled with their liquidity constraints; foreign currency exchange\plain\cf1\f51\fs22\qj fluctuations and changes in the capital markets in locations where we operate; and the impact of government\plain\sa198\cf1\f51\fs22\qj disruptions.\par\pard\plain\cf1\f51\fs22\qj Impact of Britain\u8217?s vote to leave the European Union - Their vote in late June 2016 to leave the European\plain\cf1\f51\fs22\qj Union could impact our local operations in the United Kingdom as well as the global economy. \page \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell{ {\trowd\clvertalb\cellx7322\clvertalb\cellx8634\clvertalb\cellx8774\clvertalb\cellx9304\clvertalb\cellx10616\clvertalb\cellx10756\trrh281\row}}} {\trowd\trqc\clvertalb\cellx8100\clvertalb\cellx10800\trrh281 \pard\plain \par\pard\plain\fs16 {\trowd\trqc\clvertalc\cellx7560\clvertalc\cellx10800\trrh-66\row}}} {\trowd\clvertalb\cellx5177\clvertalb\cellx6617\clvertalb\cellx7121\clvertalb\cellx8561\clvertalb\cellx9064\clvertalb\cellx10756\trrh281\row}}} \pard\plain\intbl\li396\ri22\sb22\cf1\f51\fs20\ql Loss on sale of business interest\plain\intbl\li396\ri22\sa22\cf1\f51\fs18\ql\super 5\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr \u8212?\cell Learn more by visiting BHGE at Booth #2827. {\trowd\trqc\clvertalb\cellx6961\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10799\trrh281\row}}} {\trowd\trqc\clvertalc\cellx10757\trrh-66\row}}} \par\pard\plain\fs16\pard\plain\f0\fs4\par\pard\plain\f0\fs2\brdrt\brdrs\brdrw15\brdrcf2\brdrsp0\par\pard\plain\f0\fs4\par \par\pard\plain\fs16 \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql Latin America\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 41.8\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql \~%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (23.8\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 5.8\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql \~%\cell{ Under the contract, which reflects a clear recognition of the\plain\cf1\f51\fs22\qj company\u8217?s operational and technical strengths in this market sector, Baker Hughes will provide its\plain\cf1\f51\fs22\qj FTeX\u8482? Baker Hughes announced today the commercial release of its TerrAdapt adaptive drill bit, which uses automation to mitigate downhole dysfunctions that cause inefficient drilling and tool failures. \pard\plain\intbl\li396\ri22\sb22\cf1\f51\fs20\ql Impairment and restructuring charges\plain\intbl\li396\ri22\sa22\cf1\f51\fs18\ql\super 2\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 90\cell {\trowd\trqc\clvertalc\cellx8100\clvertalc\cellx10800\trrh-66\row}}} {\trowd\clvertalb\cellx5067\clbrdrt\brdrdb\brdrcf1\clvertalb\cellx6593\clvertalb\cellx7079\clvertalb\cellx8605\clvertalb\cellx9090\clvertalb\cellx10754\trrh332 {\trowd\clvertalb\cellx5067\clvertalb\cellx6340\clvertalb\cellx6593\clvertalb\cellx7079\clvertalb\cellx8352\clvertalb\cellx8605\clvertalb\cellx9090\clvertalb\cellx10473\clvertalb\cellx10753\trrh281 Adjusted net\plain\cf1\f51\fs22\qj loss excludes adjustments totaling $114 million after tax, or $0.26 per diluted share, related to restructuring charges,\plain\cf1\f51\fs22\qj asset impairments, and merger-related costs. {\trowd\clvertalb\cellx7036\clvertalb\cellx8542\clvertalb\cellx9050\clvertalb\cellx10756\trrh281\row}}} {\trowd\clvertalc\cellx5136\clvertalc\cellx5344\clvertalc\cellx6467\clvertalc\cellx6607\clvertalc\cellx7106\clvertalc\cellx7314\clvertalc\cellx8437\clvertalc\cellx8577\clvertalc\cellx9076\clvertalc\cellx9356\clvertalc\cellx10473\clvertalc\cellx10753\trrh-66\row}}} \pard\plain\intbl\f0\fs16\ql \~\cell{ {\trowd\trqc\clvertalb\cellx8100\clvertalb\cellx10800\trrh281\row}}} \pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs12\qr 4\cell Also, the sharp onshore activity ramp up in North America has caused\plain\cf1\f51\fs22\qj short-term supply chain challenges in certain product lines and basins, resulting in some labor and materials cost\plain\sa198\cf1\f51\fs22\qj inflation.\par\pard\plain\cf1\f51\fs22\qj Adjusted operating loss before tax (a non-GAAP measure), which excludes a $30-million inventory-related\plain\cf1\f51\fs22\qj adjustment in the fourth quarter of 2016, improved $33 million, from $56 million in the prior quarter to $23 million\plain\sa198\cf1\f51\fs22\qj in the first quarter of 2017.\par\pard\plain\sb440\sa264\cf1\f51\fs22\b\qj Latin America\par\pard\plain\sb352\cf1\f51\fs22\qj Latin America revenue of $201 million decreased $24 million, or 11%, sequentially. {\trowd\clbrdrb\brdrs\brdrcf1\clvertalb\cellx7036\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8361\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8541\clbrdrb\brdrs\brdrcf1\clvertalb\cellx9049\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10474\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10754\trrh281\row}}} Baker Hughes Incorporated (Exact name of registrant as specified in charter) ... On a recent run, the TerrAdapt™ bit increased a customer’s rate of penetration by 27 percent compared to the average rate of penetration on offset wells drilled through the same formations. \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr \u8212?\cell Baker Hughes announced today the commercial release of its TerrAdapt™ adaptive drill bit, which can deliver dramatic improvements in drilling economics by using automation to mitigate downhole dysfunctions that cause inefficient drilling and costly tool failures. \pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{ {\trowd\clvertalb\cellx2052\clvertalb\cellx2592\clvertalb\cellx10800\trrh371\row}}} {\trowd\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx5177\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx5344\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx6477\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx6617\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7121\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7288\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8421\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8561\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9064\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9344\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10475\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10755\trrh298 \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql Middle East/Asia Pacific\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 10.9\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql \~%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 6.8\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql \~%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 13.2\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql \~%\cell{ \par\pard\plain\fs16 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 30\cell {\trowd\clvertalc\cellx10757\trrh-66\row}}} {\trowd\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx5101\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6350\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6603\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx7093\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8342\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8595\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx9084\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10474\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10754\trrh298\row}}} {\trowd\trqc\clvertalb\cellx5902\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10799\trrh281\row}}} {\trowd\clvertalc\cellx10800\trrh-66\row}}} {\trowd\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx5101\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx5241\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx6350\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx6603\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7093\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7233\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8342\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8595\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9084\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9364\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10473\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10753\trrh281 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell{ Performance Risks, Limiters, and Dysfunctions. {\trowd\clvertalb\cellx5067\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10756\trrh281 \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql North America\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\ql $\cell\pard\plain\intbl\sb22\sa22\cf1\f51\fs20\qr 712\cell {\trowd\clbrdrb\brdrs\brdrcf1\clvertalb\cellx5136\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6467\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6607\clbrdrb\brdrs\brdrcf1\clvertalb\cellx7106\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8437\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8577\clbrdrb\brdrs\brdrcf1\clvertalb\cellx9076\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10473\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10753\trrh281 Free cash flow is defined as net cash flows provided by (used in) operating\plain\cf1\f51\fs22\qj activities less expenditures for capital assets plus proceeds from disposal of assets. \pard\plain\intbl\li22\ri22\sb22\sa22\fi198\cf1\f51\fs20\ql Identified items, net of income tax\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 114\cell 2,349 were here. {\trowd\clvertalb\cellx5136\clvertalb\cellx6607\clvertalb\cellx7106\clvertalb\cellx8577\clvertalb\cellx9076\clvertalb\cellx10754\trrh281 {\trowd\trqc\clvertalb\cellx5902\clvertalb\cellx7236\clvertalb\cellx7343\clvertalb\cellx7450\clvertalb\cellx8784\clvertalb\cellx8891\clvertalb\cellx8998\clvertalb\cellx10375\clvertalb\cellx10585\clvertalb\cellx10795\trrh281\row}}} \pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql Earnings (loss) before interest, taxes, depreciation and\par\pard\plain\intbl\li22\ri22\sb22\cf1\f51\fs20\ql amortization (EBITDA)\plain\intbl\li22\ri22\sa22\cf1\f51\fs18\ql\super 1\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 188\cell {\trowd\trqc\clvertalb\cellx5902\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx9001\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10799\trrh298 {\trowd\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7036\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx7216\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8360\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx8540\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9048\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx9328\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10472\clbrdrt\brdrs\brdrcf1\clbrdrb\brdrdb\brdrcf1\clvertalb\cellx10752\trrh298\row}}} Developed in partnership with Saudi Aramco, this next-generation, coiled\plain\cf1\f51\fs22\qj tubing-deployed electrical submersible pump (ESP) system eliminates the need for a rig to install and retrieve\plain\cf1\f51\fs22\qj ESPs\u8211?dramatically reducing intervention costs and downtime. {\trowd\trqc\clvertalb\cellx8100\clvertalb\cellx10800\trrh281\row}}} \par\pard\plain\fs16\pard\plain\sb352\cf1\f51\fs24\b\i\ql Consolidated Condensed Statements of Income (Loss) \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\ql $\cell\pard\plain\intbl\sb22\sa22\cf1\f51\fs20\qr 19,034\cell The operator quickly awarded Baker Hughes an exclusive contract to\plain\cf1\f51\fs22\qj provide its ESPs in over 65 wells in 2017, with a chance to expand the contract. \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr \u8212?\cell {\trowd\clvertalb\cellx5136\clvertalb\cellx6467\clvertalb\cellx6607\clvertalb\cellx7106\clvertalb\cellx8437\clvertalb\cellx8577\clvertalb\cellx9076\clvertalb\cellx10473\clvertalb\cellx10753\trrh281 A reconciliation of net\plain\cf1\f51\fs22\i\qj income (loss) attributable to Baker Hughes to Adjusted EBITDA is provided in Table 2. \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql North America\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (3.2\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (21.2\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )%\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (7.2\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )%\cell{ \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 19\cell {\trowd\clvertalc\cellx10778\trrh-66 {\trowd\clvertalb\cellx5067\clvertalb\cellx5234\clvertalb\cellx6340\clvertalb\cellx6593\clvertalb\cellx7079\clvertalb\cellx7246\clvertalb\cellx8352\clvertalb\cellx8605\clvertalb\cellx9090\clvertalb\cellx9370\clvertalb\cellx10473\clvertalb\cellx10753\trrh281\row}}} {\trowd\clvertalb\cellx7322\clvertalb\cellx8774\clvertalb\cellx9304\clvertalb\cellx10756\trrh281\row}}} }}\b\f0\fs26\lang1033 \sbasedon0\snext0 heading 2;} \par\pard\plain\fs16 {\trowd\clbrdrb\brdrs\brdrcf1\clvertalb\cellx7036\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8361\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8541\clbrdrb\brdrs\brdrcf1\clvertalb\cellx9049\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10474\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10754\trrh281 {\trowd\trqc\clvertalb\cellx8100\clvertalb\cellx10800\trrh281\row}}} {\trowd\trqc\cellx215\clvertalb\cellx322\cellx10757\trrh256\row}}} \par\pard\plain\fs16\pard\plain\sb352\cf1\f51\fs24\b\i\ql Consolidated Condensed Balance Sheets \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 718\cell \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs18\ql Impairment and restructuring charges associated with asset impairments, workforce reductions, facility closures, and contract terminations.\cell{ The TerrAdapt™ adaptive drill bit adjusts to downhole conditions autonomously to enable smoother, faster drilling and extend tool life. {\trowd\clvertalb\cellx5101\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6350\clbrdrb\brdrs\brdrcf1\clvertalb\cellx6603\clvertalb\cellx7093\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8342\clbrdrb\brdrs\brdrcf1\clvertalb\cellx8595\clvertalb\cellx9084\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10474\clbrdrb\brdrs\brdrcf1\clvertalb\cellx10754\trrh281 {\trowd\clvertalb\cellx5101\clvertalb\cellx6350\clvertalb\cellx6603\clvertalb\cellx7093\clvertalb\cellx8342\clvertalb\cellx8595\clvertalb\cellx9084\clvertalb\cellx10474\clvertalb\cellx10754\trrh281 Baker Hughes earlier this year announced the TerrAdapt adaptive drill bit, featuring self-adjusting depth-of-cut (DOC) elements. \par\pard\plain\fs16 {\trowd\clvertalb\cellx5101\clvertalb\cellx6603\clvertalb\cellx7093\clvertalb\cellx8595\clvertalb\cellx9084\clvertalb\cellx10754\trrh281\row}}} \par\pard\plain\fs16\par\pard\plain\cf1\f51\fs22\b\qj Baker Hughes wins significant three-year contract to provide wireline services for major operator in the North\plain\cf1\f51\fs22\b\qj Sea.\plain\cf1\f51\fs22\qj This award expands the company\u8217?s operational footprint for high-temperature/high-pressure openhole\plain\cf1\f51\fs22\qj wireline services in the U.K. sector of the North Sea. {\trowd\trqc\clvertalb\cellx8100\clvertalb\cellx10800\trrh281\row}}} \pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\f0\fs16\ql \~\cell{ {\trowd\clvertalb\cellx5136\clvertalb\cellx6467\clvertalb\cellx6607\clvertalb\cellx7106\clvertalb\cellx8437\clvertalb\cellx8577\clvertalb\cellx9076\clvertalb\cellx10473\clvertalb\cellx10753\trrh529\row}}} \page{\*\bkmkstart doc_1_2}{\*\bkmkend doc_1_2}{\*\bkmkstart sA6A7442946B85574AF4067C9902BD6A}{\*\bkmkend sA6A7442946B85574AF4067C9902BD6A}\par\pard\plain\cf1\f51\fs24\b\qr Exhibit 99.1 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 102\cell cement unit installation for an operator in the United Arab Emirates as part of a recent\plain\cf1\f51\fs22\qj three-plus-two-year For more information about\plain\cf1\f51\fs22\qj Baker Hughes, visit:\plain\cf1\f51\fs22\qj www.bakerhughes.com\plain\cf1\f51\fs22\qj . \pard\plain\intbl\f0\fs16\ql \~\cell{ \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell{ \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\ql $\cell\pard\plain\intbl\sb22\sa22\cf1\f51\fs20\qr 2,410\cell {\trowd\trqc\clvertalc\cellx10800\trrh-66\row}}} \par\pard\plain\fs16\pard\plain\cf1\f51\fs22\qj barite, synthetic and natural diamonds, sand, gel, chemicals, and electronic components); our ability to manage\plain\cf1\f51\fs22\qj energy-related costs; our ability to manage compliance-related costs; our ability to recruit, train and retain the skilled\plain\cf1\f51\fs22\qj and diverse workforce necessary to meet our business needs and manage the associated costs; the effect of\plain\cf1\f51\fs22\qj manufacturing and subcontracting performance and capacity; the availability of essential electronic components used\plain\cf1\f51\fs22\qj in our products; the effect of competition, particularly our ability to introduce new technology on a forecasted\plain\cf1\f51\fs22\qj schedule and at forecasted costs; potential impairment of assets; unanticipated changes in the levels of our capital\plain\cf1\f51\fs22\qj expenditures; the need to replace any unanticipated losses in capital assets; labor-related actions, including strikes,\plain\sa198\cf1\f51\fs22\qj slowdowns and facility occupations; our ability to maintain information security.\par\pard\plain\cf1\f51\fs22\qj Litigation and changes in laws or regulatory conditions - the potential for litigation or proceedings and our ability to\plain\cf1\f51\fs22\qj obtain adequate insurance on commercially reasonable terms; the administrative, legislative, regulatory and business\plain\cf1\f51\fs22\qj environment in the U.S. and other countries in which we operate; outcome of government and legal proceedings, as\plain\cf1\f51\fs22\qj well as costs arising from compliance and ongoing or additional investigations in any of the countries where the\plain\cf1\f51\fs22\qj Company does business; new laws, regulations and policies that could have a significant impact on the future\plain\cf1\f51\fs22\qj operations and conduct of all businesses; laws, regulations or restrictions on hydraulic fracturing; any restrictions on\plain\cf1\f51\fs22\qj new or ongoing offshore drilling or permit and operational delays or program reductions as a result of the regulations\plain\cf1\f51\fs22\qj in the Gulf of Mexico and other areas of the world; changes in export control laws or exchange control laws; the\plain\cf1\f51\fs22\qj discovery of new environmental remediation sites; changes in environmental regulations; the discharge of hazardous\plain\cf1\f51\fs22\qj materials or hydrocarbons into the environment; restrictions on doing business in countries subject to sanctions;\plain\cf1\f51\fs22\qj customs clearance procedures; changes in accounting standards; changes in tax laws or tax rates in the jurisdictions in\plain\cf1\f51\fs22\qj which we operate; resolution of tax assessments or audits by various tax authorities; and the ability to fully utilize our\plain\sa198\cf1\f51\fs22\qj tax loss carry forwards and tax credits.\par\pard\plain\sb176\sa198\cf1\f51\fs22\qc # # #\par\pard\plain\sb264\cf1\f51\fs22\qj Baker Hughes is a leading supplier of oilfield services, products, technology, and systems to the worldwide oil and\plain\cf1\f51\fs22\qj natural gas industry. \par\pard\plain\fs16 \par\pard\plain\fs16 \pard\plain\intbl\f0\fs16\ql \~\cell{ An archived version of the webcast will be available on the website through the\plain\cf1\f51\fs22\qj end of June, 2017.\par\pard\plain\sb352\sa88\cf1\f51\fs24\b\i\ql Additional Information and Where to Find It\par\pard\plain\cf1\f51\fs22\qj In connection with the proposed transaction between GE and Baker Hughes, on March 29, 2017, the new NYSE listed\plain\cf1\f51\fs22\qj corporation (Bear Newco, Inc. or \u8220?Newco\u8221?) \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql Inventories, net\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 1,907\cell \pard\plain\intbl\li462\ri22\sb22\sa22\cf1\f51\fs20\ql Industrial Services\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (6\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (4\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 11\cell • Provided technical support to design, manufacturing, repair, and third party vendors as member of team responsible for launch of industry-first TerrAdapt self-adjusting drill bit \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (349\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (316\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell{ {\trowd\trqc\clvertalc\cellx215\clvertalc\cellx322\clvertalc\cellx10757\trrh-66 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 97\cell {\trowd\trqc\clvertalb\cellx7560\cellx10800\trrh1249 \par\pard\plain\fs16 {\trowd\clvertalb\cellx5177\clvertalb\cellx6477\clvertalb\cellx6617\clvertalb\cellx7121\clvertalb\cellx8421\clvertalb\cellx8561\clvertalb\cellx9064\clvertalb\cellx10475\clvertalb\cellx10755\trrh281\row}}} {\trowd\clvertalb\cellx7322\clvertalb\cellx8634\clvertalb\cellx8774\clvertalb\cellx9304\clvertalb\cellx10616\clvertalb\cellx10756\trrh281 \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr 280\cell {\trowd\clvertalb\cellx7408\clvertalb\cellx8803\clvertalb\cellx9339\clvertalb\cellx10734\trrh281\row}}} \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell{ Baker Hughes, a GE company (BHGE), producer of TerrAdapt™ adaptive drill bit; Baker Hughes, a GE company (BHGE), producer of DEEPFRAC™ deepwater multi-stage fracturing service; Delmar Systems, Inc., producer of RARPLUS™ Dril-Quip Inc., producer of HFRe™ - Hands Free Marine Drilling Riser System {\trowd\clvertalb\cellx3545\clvertalb\cellx4496\clvertalb\cellx10672\trrh371\row}}} \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\ql $\cell\pard\plain\intbl\sb22\sa22\cf1\f51\fs20\qr 108\cell \par\pard\plain\intbl\fs16\pard\plain\intbl\f0\fs16\ql \~\cell\pard\plain\intbl\li22\ri22\sb22\sa22\cf1\f51\fs20\ql \~\cell\pard\plain\intbl\li22\sb22\sa22\cf1\f51\fs20\qr (97\cell\pard\plain\intbl\ri22\sb22\sa22\cf1\f51\fs20\ql )\cell{
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