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20, 2021- Baker Hughes Company (NYSE: BKR) ("Baker Hughes" or the "Company") announced results today for the third quarter of 2021. *Adjusted EBITDA (a non-GAAP measure) is defined as operating income (loss) excluding depreciation & amortization and operating income adjustments. Please see reconciliations in the section entitled "Reconciliation of GAAP to non-GAAP Financial Measures." Certain columns and rows in our tables and financial statements may not sum up due to the use of rounded numbers. However, management believes that using additional non-GAAP measures will enhance the evaluation of the profitability of the Company and its ongoing operations. The Company presents its financial results in accordance with GAAP. Free cash flow (a non-GAAP measure) for the quarter was $305 million.

Cash flows generated from operating activities were $416 million for the quarter.

Adjusted earnings per share (a non-GAAP measure) was $0.16.

GAAP earnings per share of $0.01 for the quarter which included $0.15 per share of adjusting items.

Adjusted EBITDA* (a non-GAAP measure) of $664 million for the quarter was up 9% sequentially and up 21% year-over-year.

Adjusted operating income (a non-GAAP measure) of $402 million for the quarter was up 21% sequentially and up 72% year-over-year.

GAAP operating income of $378 million for the quarter, up 95% sequentially and favorable year-over-year.

Revenue of $5.1 billion for the quarter, down 1% sequentially and up 1% year-over-year.

Orders of $5.4 billion for the quarter, up 6% sequentially and up 5% year-over-year.