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2022 Corporate Sustainability Report

The document provides an overview of Baker Hughes' 2022 Corporate Sustainability Report. It discusses Baker Hughes' business performance, sustainability strategy and framework, initiatives regarding people, planet and principles, and accomplishments in advancing its net-zero emissions reduction pledge.

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0% found this document useful (0 votes)

112 views141 pages

2022 Corporate Sustainability Report

Uploaded by

Thanh Đạt

We take content rights seriously. If you suspect this is your content, claim it here.

Available Formats

Download as PDF, TXT or read online on Scribd

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Corporate Sustainability Report 2022

People First. Energy Forward.

About this report

Our frameworks
Accessibility and usability
Our sustainability report is prepared using the
This report delivers enhancements designed to
Global Reporting Initiative’s (GRI) Standards and
improve usability:
the Greenhouse Gas Protocol (GHG Protocol) as the
• Audio features narrate the report for the visually foundation of our report. We also provide reporting
impaired, readers with dyslexia, or other reading indices for the Task Force on Climate-Related
impairments. The expansion of the color palette Financial Disclosures (TCFD) and the Sustainable
supports accessibility for visually impaired readers. Accounting Standards Board (SASB) Oil & Gas
• QR codes provide access to closed captioned Services Industry Standard–Extractives & Minerals
videos which augment report content, benefiting Processing Sector.
the deaf and hard of hearing communities.

Reports and policies:

Our archived reports and policies are accessible on
our website.

On the cover: Manufacturing Shop Operators in Industrial &

Energy Technology, Florence, Italy
From the left: Lorenzo Giaccari, Giulia Rovai, Fadia Mansouri,
Eleonora Smorti, Nosa Bill Izekor
Who we are Our values
We are an energy
technology company. Grow
See challenge as opportunity
and learn every day.

Our purpose Collaborate

We take energy forward– Inspire, be inclusive, and bring
making it safer, cleaner, and out the best in each other.

more efficient for people and

the planet. Lead
Make, invent, and perform
with impact.

Sustainability vision
Care
To be a sustainable pioneer
Do the right thing, always, for our
in everything we do, customers, our people, and the
positioning Baker Hughes as environment.
the future energy technology
company of choice.
Table of contents

A letter from our Chief Executive Officer 6 People 34

Figure 4-1: Total employees by region 37
Figure 4-2: Employees by gender, age, seniority,
A letter from our Chief and job function 37
Sustainability Officer 8
Figure 4-3: Voluntary attrition 42

Figure 4-4: New hires 43

Figure 4-5: Reimagine Recruitment highlights 43

2022 by the Numbers 10
Figure 4-6: Our employee value proposition 43
Figure 1-1: Business segments performance 11
Table 4-1: Percentage of employees receiving
annual performance and career
development review 44
Figure 4-7: Employees receiving annual
About Baker Hughes 14 performance and career
Table 2-1: Direct and indirect economic development review 44
impacts (million USD) 17
Table 4-2: Leadership program participation 47

Figure 4-8: Our leadership programs 47

Table 4-3: Average hours of training 48

Sustainability at Baker Hughes 24
Figure 4-9: Women at Baker Hughes 50
Figure 3-1: Sustainability strategy driven by
cross-functional engagement and Table 4-4: Diversity snapshot 50
best practice 26
Figure 4-10: Employee resource groups 51
Figure 3-2: Our strategy framework 27
Table 4-5: Community contributions 54
Figure 3-3: Materiality assessment 29
Figure 4-11: Increasing our volunteer
engagement 54

Figure 4-12: 2022 Renew highlights 57

4 Baker Hughes
Planet 58 Principles 80
Figure 5-1: Total scope 1 and 2 emissions Figure 6-1: Board of Directors oversight
by year 62 of environmental, social and
governance matters 89
Table 5-1: Scope 1 and 2 emissions by year 62

Table 5-2: Scope 1 emissions breakdown 62

Figure 5-2: Total electricity used in 2022 63

Appendix 98
Table 5-3: Energy use by category 63
Figure 5-3: Number of product life cycle
assessments 2021 v. 2022 65

Table 5-4: Scope 3 emissions 67

Figure 5-4: Waste volume 71

Table 5-5: Waste volume 71

Table 5-6: Waste diverted from disposal by
recovery operation 71

Table 5-7: Waste prevented from disposal 71

Table 5-8: Waste directed to disposal by
disposal operation 71

Table 5-9: Water use 73

Table 5-10: Water use in water-stressed areas 73

Table 5-11: Water conservation and
management assessment 75

Table 5-12: Spill volume 79

Baker Hughes 5
Lorenzo Simonelli
Chairman, President, and
Chief Executive Officer

Last year, the global energy map was In 2022, we continued to accelerate Our realignment and strong progress
redrawn, resulting in a complex energy our business strategy to fully capitalize were underpinned by our sustainability
market and a challenging macro on the opportunities that lie ahead, strategy. Our vision is to be a sustainable
environment. There was a renewed focus drive increased shareholder value, and pioneer in everything we do, positioning
on energy security, sustainability, and build a world-class energy technology Baker Hughes as the energy technology
affordability – “the energy trilemma”- company. In September 2022, we company of choice. Through our existing
and balancing the pace of energy announced a strategic transformation corporate sustainability framework –
transition. These forces have presented for Baker Hughes by restructuring into known as People, Planet and Principles –
an opportunity for Baker Hughes to help two simplified business segments we have continued to support the United
our customers on their sustainability – Oilfield Services & Equipment and Nations (UN) Sustainable Development
journeys and allow us to renew our focus Industrial & Energy Technology – offering Goals (SDG) and to move beyond
on operational excellence to better an integrated portfolio of solutions that pledges to weave sustainability more
support the needs of the energy industry we believe are best served for energy deeply in our culture. We are taking
well into the future. and industrial customers. We believe action to advance our net-zero journey,
that focusing on these two business and I am proud of our accomplishments
areas will better position our Company since first setting our net-zero emissions
by enhancing flexibility, improving reduction pledge in 2019. Together, our
commercial and operational execution, business and sustainability strategies
and providing long-term optionality. empower us to take energy forward
- making it safer, cleaner, and more
efficient for people and the planet.

People Planet Principles

Our talented people continued to We continue to pioneer low- to zero- Our culture is built on health and safety,
be industry-leading subject matter carbon energy solutions for our compliance, integrity, and quality. We
experts, taking energy forward in the customers and minimize our own remain steadfast in upholding the
most sustainable way. People are at operational footprint. Since we first highest standards in these areas. We
the heart of taking energy forward, made a commitment to achieve net- have taken proactive and preventative
and we strengthened our employee zero carbon dioxide equivalent (CO2e) measures to protect our employees
value proposition to attract the best emissions by 2050, we have achieved and foster a culture guided by these
talent from around the globe to lead a 28% reduction in our scope 1 and principles.
in the energy transition. I am proud of scope 2 emissions in 2022, compared
the recognition that we achieved this to our 2019 baseline year. We remain I am confident in our ability to advance
year for our collaborative learning and committed to emissions reduction, but our sustainability journey and proud
development programs, as well as our have also set new, ambitious internal of our accomplishments this year. We
diversity, equity, and inclusion initiatives. targets to reduce our scope 3 emissions, continue to put our people first, minimize
We increased our contributions to the embed circularity into our products’ our environmental impact, and drive a
communities where we operate, as lifecycles, and preserve biodiversity in strong culture of integrity and safety in
part of our charitable giving, further our areas of operation. support of a sustainable future.
demonstrating how our actions continue
to drive our progress and impact.

Lorenzo Simonelli
Chairman, President, and Chief
Executive Officer

At Baker Hughes, sustainability means mitigating potential risk. This biennial All In. Carbon Out.
operating in a principled way to minimize assessment helped to inform our
Launched in 2021, Carbon Out is a
environmental impact and maximize strategic priorities while providing an
company-wide initiative to take CO2e
social benefits by providing affordable, opportunity for deep engagement with
out of our operations and meet our
sustainable, and secure energy for 50+ key internal stakeholders.
pledge to achieve net zero by 2050.
people and the planet. We do this for
Our work was foundational in developing This program — which provides tools,
ourselves and our customers.
strategic priorities that support our a framework, funding, and resources
Even in the wake of a global energy commercial strategy through more — has empowered our people to
security crisis, ongoing geopolitical sustainable operations. systematically contribute to reducing
conflict, and shifting markets we our CO2e emissions and focus on more
remained deeply committed to Turning risks into opportunities sustainable operations.
operating in a responsible and
With climate change as an increasing risk In 2022, we expanded our internal
sustainable way. Across our business,
to our Company and the world, we worked Carbon Out network to focus on
sustainability has been a key lever,
to identify physical and transition risks to identifying and funding projects that
transforming the performance of our
our Company throughout our value chain. will reduce our CO2e emissions. These
Company and our industry.
In 2022, we expanded our quantitative projects are key to achieving our carbon
climate change scenarios and reduction commitments and reducing
Assessing our key strategic priorities
incorporated this analysis into our mid- our environmental impact throughout
We conducted a detailed materiality and long-range planning. In addition, our entire business. We continued to
assessment – an important listening our innovative portfolio of technologies advance our understanding of our value
exercise from our internal and external and solutions in carbon abatement, chain emissions and set an internal
stakeholders – to strategically align on along with clean power generation, scope 3 emissions reduction goal.
key priorities with the highest business energy efficiency and electrification,
impact and stakeholder importance, to offer us a key competitive advantage in a
guide our sustainability strategy, while climate-constrained world.

Transparency and quality of data Progress powered by our people In the spirit of inclusion, one
achievement I am particularly proud
As one of the first energy companies to Getting to a lower-carbon state as
of this year is making this sustainability
make a public net-zero commitment, a society is perhaps the existential
report easier to access by readers of all
it is crucial for Baker Hughes to model challenge of our time, and we believe
abilities. We have been intentional about
leadership in sustainability performance. that it will be driven by our people.
putting people first and ensuring no one
We continuously improved how we track, Throughout this report, you will read
is left behind. Through the use of visual
measure, govern, control, and report about how our employees continue
aids, special colors, designs, and closed
our sustainability performance data. to live through our values to be more
captioning for any linked audiovisual
We expanded the reach of our data sustainable - whether to support
content, this report will be accessible to
controllership consistent with the best diversity and inclusion, taking carbon
those hard of hearing, deaf, or visually
accounting practices. In addition, we out of our operations, or volunteering for
impaired.
expanded the third-party assurance environmental causes.
of our sustainability metrics this year, We trust you will find this year’s report
which included reasonable assurance The efforts of our employees have not
informative and easy to follow. If
of all scope 1 and 2 CO2e emissions and gone unrecognized, as the Company
you have questions or comments
limited assurance of our scope 3 CO2e and individuals received numerous
about our reporting or our approach
emissions, waste, and human capital industry recognitions and sustainability
to sustainability, I encourage you to
metrics. awards in 2022.
reach out to me or a member of our
leadership team.

Allyson Anderson Book

Chief Sustainability Officer

Economic impact

$21.2B
Revenue

$26.8B
Orders

Technology and innovation

$556M
Spent on research
and development

2,200+
Patents granted

$400M+
New Energy orders

Two business segments

OFE OFS TPS DS

Oilfield Services & Industrial & Energy

Equipment (OFSE) Technology (IET)

OFSE Segment — Revenue TY 22 IET Segment — Revenue TY 22

Gas Technology

$3.9B $3.6B $2.6B $2.4B

Well Construction Completions, Intervention Equipment Services
and Measurement

Industrial Technology

$3.6B $2.2B $0.5B $1.0B

Production Solutions Subsea & Surface Condition Monitoring Inspection
Pressure Systems

$0.8B $0.6B
Pumps, Valves, Gears Precision Sensors &
Instrumentation

Marco Soldino | Massa Plant Testing Engineer, Industrial & Energy Technology

People

~55K >150
Total employees, Nationalities
with more than represented
42,000 of our
employees working
outside the U.S.

Planet

28%
Reduction in
10
Scope 3 categories
26%
Electricity sourced
57K+
Metric tons of
scope 1 and 2 CO2e reported with limited from zero- waste recycled
emissions from our assurance emission sources
2019 baseline

Principles

217 100%
Perfect HSE Days Enterprise security
personnel trained in
human rights policies
or procedures

Greta Mandarino | Planner, Custom Stator Cell, Industrial & Energy Technology

500 ESG Index in May

2022

The World’s Top

Female-Friendly
Companies 2022 by
Forbes - #209

#6 on Fortune's Modern
Board 25 list as one of
the most innovative
boards of directors
among S&P 500
companies.

#1 in Customers for AA ESG rating

Energy Equipment &
Services by JUST Capital

Best place to work by Ally B rating

Energy GRIT Awards 2022

17 Strategy and vision

18 Our business transformation

19 Innovation and collaboration

20 Key acquisitions, investments, and partnerships

22 Our values and culture

“As the world faces the ‘energy

trilemma’ of achieving energy security,
affordability, and sustainability, we
know that Baker Hughes has a clear role
to play — our purpose of taking energy
forward, making it safer, cleaner, and
more efficient for people and the planet,
has never been more relevant.”
Lorenzo Simonelli
Chairman, President and Chief Executive Officer

Company overview
Baker Hughes Company (“Baker Hughes,” “the Company,” We deliver through our two business segments:
“we,” “us,” or “our”) develops and deploys technologies to Oilfield Service & Equipment (OFSE) and Industrial &
help meet the world’s increasing demand for energy. Energy Technology (IET). Our two business segments
By harnessing the power of engineering, data, and science, are organized based on the nature of our markets
we are redefining what is possible and ushering in a and customers and consist of similar products and
new era for energy. services and growth profiles. More detail can be found
on page 18.
As a company of global scale, local know-how and
commitment to service, we conduct business in over
120 countries. Our products and services serve the upstream,
midstream/liquified natural gas (LNG), and downstream
sectors of the oil and gas industry, as well as broader
chemical and industrial segments.

Person name, and job

Strategy and vision
Baker Hughes is guided by our purpose • Invest for growth: As we build a In 2022, we developed a sustainability
to take energy forward — making it safer, more diversified energy and industrial strategy which underpins our broader
cleaner, and more efficient for people business with energy technology at its commercial strategy and serves as our
and the planet. We recognize that our core, we believe we are well positioned roadmap to embed people, planet, and
products and services are essential to to more aggressively pursue growth principles into our business, positioning
meeting the world’s growing energy and in industrial sectors, including energy, Baker Hughes as the energy technology
industrial needs now and in the future. where we see more resilience and company of choice.
better operating performance. We
Our corporate strategy is focused on
transforming our core to strengthen our
will leverage our existing strengths, Economic impact
portfolio, and technology positions
competitiveness today, while investing We take our responsibility to power
to provide solutions to serve these
for growth and positioning for new global and local economies seriously.
growth sectors.
frontiers in the energy transition. As a provider of technology and
• Position for new energy frontiers: As
services, we are a critical part of the
Through this framework, we will the energy landscape continues to
world’s energy infrastructure, and we
continue to build and execute a plan change, we are evaluating the key
believe in lowering barriers to accessing
to deliver sustainable value for our growth areas associated with energy
clean, affordable energy for everyone,
shareholders and stakeholders based transition and where Baker Hughes
everywhere.
on three key pillars: can capitalize on these opportunities.
We will pursue strategic bets that Baker Hughes generated a direct
• Transform the core: Over the past two leverage our core competencies economic value of $21,156 million in
years, we have been transforming our and expertise today, and where revenue in 2022. That economic value
core product companies by improving we believe we can achieve a was distributed to a wide variety of
our core competitiveness – including differentiated position in the future. global stakeholders as outlined in the
improving segment margins and cash chart in Table 2-1.
flow, while also adjusting our portfolio
to focus on higher return businesses.

Table 2-1: Direct and indirect economic impacts (million USD)

2020 2021 2022

Revenues $20,705 $20,502 $21,156

Operating costs $36,683 $19,192 $19,971

Payments to providers of capital 1 $1,033 $1,488 $1,862

Payments to governments (net cash tax payments) $441 $314 $498

Total charitable contributions $119 $45 $75

1 Calculated as the sum of Dividends on Class A Shares, Distributions to GE, share repurchases, and Interest Payments.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 17
Our business transformation From four product companies to
two business segments
As the world sought to rebalance energy supply, we
accelerated our corporate strategy and began simplifying our In October 2022, we moved from four product
structure to better navigate the evolving market and capitalize companies to two business segments that drive
on emerging growth opportunities. a more simplified and focused organizational
structure. Our two business segments are organized
We have been transforming our solutions portfolio by based on the nature of our markets and customers
expanding our low-carbon technology portfolio and prioritizing and consist of similar products and services and
emissions abatement considerations in our corporate strategy. growth profiles.
Our strategy is not only focused on financial and operational
excellence. It is also heavily focused on sustainability
leadership to enable us to deliver on our promises.
Industrial & Energy Technology
(IET)
Our IET organization brings together an incredible
amount of expertise, technologies, and services,
creating a portfolio of powerful technologies and
solutions. Our focus is on supporting industrial and
energy customers, driving industrial productivity,
and enabling a reliable, efficient, net-zero energy
system.

Oilfield Services & Equipment

(OFSE)
The combination of Oilfield Services and Oilfield
Equipment into OFSE enhances our opportunity
to become the premier upstream partner for
our customers. We continued to deepen and

In October 2022,
strengthen customer relationships by bringing
together our products and services, offering more
comprehensive solutions aligned to their evolving

we moved from needs.

The complementary nature of our businesses

four product means that on day one, we have the scale to

impact the industry — and Baker Hughes’ results.

companies to
Together, our teams continue to create efficiencies
that improve the speed of decision-making,
sharing, and scaling best practices across our

two business entire organization.

segments

18 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
wind, hydro, and gas turbines. The IET
Innovation and In 2022, we invested $556 million in
research and development and were segment is enhancing its process and
collaboration granted more than 2,200 patents
safety valve business, bringing new
digital applications including analytics
Innovation is foundational to our In OFSE, we continued to fund a range of to our customers. Investments also
purpose and is more important than formation evaluation capabilities, as well include technologies to measure,
ever in today’s dynamic market. Thanks as drilling, completions, and production monitor, and minimize CO2e emissions,
to the relentless passion and dedication hardware. Our focus is expanding new inspection technologies for
of our engineers, scientists, digital capability into deeper water, longer nondestructive evaluation of materials
experts, and inventors, we can proudly well offsets and at higher subsurface and structures, and solutions for
say we are leaders not only in our pressures, as well as modular designs industrial asset management.
traditional OFSE markets, but also in the that allow for simpler and more digitally
IET space. To accelerate our progress, integrated well and field systems. Many of our innovative products were
we pursued innovation through in-house highlighted by industry leaders including
research and development, as well as In IET, we continued to invest and the European Geothermal Energy
external investment and collaborative develop foundational technologies that Council (EGEC) and World Oil.
partnerships. We made strategic enable a transition to a low-emission
investments in transformative solutions global economy. EGEC
that drive growth for Baker Hughes and Ruggero Bertani European Geothermal
our customers. Such technologies include advanced Innovation Award 2022 — Corrosion
materials, advanced manufacturing Resistant Podded Electrical Submersible
Our research and development technologies, novel process Pump and Completion System
activities were directed primarily toward technologies, and digital technologies
the development of new products, such as advanced sensing and World Oil Awards (Finalist)
services, technology, and other diagnostics, data sciences, and artificial • Best Digital Transformation Award -
solutions, as well as the improvement intelligence. Within Gas Technology, ProductionLink™ Edge Smart Artificial
of existing products, services, and we focus on our latest generation of Lift Automation Solution
the design of specialized products gas turbines for energy efficiency and
• Best EOR (enhanced oil recovery)
to meet specific customer needs. reduced carbon footprint such as
Technology Award - PermaFLO™ Solid
We continued to invest across both our LM9000 and Nova LT products, as
Inhibitor Particles
business segments in products to well as Allam Cycle turboexpander,
enhance safety, develop capability, carbon capture, utilization, and storage • Best Oilfield Fluids and Chemicals
improve performance, and reduce costs (CCUS), and hydrogen and geothermal Award - DELTA-TEQ™ XT
aligned with our operational strategy. technologies. • Best Production Technology Award -
Through our Technology Centers, we Sandstone Divert with Breaker D
also invested heavily in fundamental Within IET, we invested in advanced
• Best Well Intervention Award -
technologies such as materials, additive digital solutions designed to improve
X-treme™ WindowMaster™ Whipstock
manufacturing, sensing, artificial the efficiency, reliability, and safety of
System
intelligence/machine learning, and oil and gas, aerospace, energy, and
other digital technologies such as broader industrial production and • New Horizons Idea Award - i-Trak™
computer vision, data science, and operations. This includes our Orbit 60 Automated Reservoir Navigation
edge computing. Bently Nevada product for critical asset Service
monitoring in turbine systems, including

Key acquisitions, core oil and gas operations by

reducing costs and downtime for
Investments and partnerships

investments, operators. AccessESP’s “GoRigless

The path to sustainable energy
production requires focused
and partnerships ESP System” provides proprietary
solutions that enable an electrical
collaboration with our industrial partners
to mature promising early technologies
We continued to invest in advanced submersible pump to be deployed
to scaled demonstrations and
technologies that augment our core and retrieved with conventional,
commercial offerings.
business offering. These acquisitions and light-duty intervention equipment
investments have helped to drive near- (e.g., wireline, coiled tubing, or well • Greenfire Energy, the newly
term growth in revenue and orders while tractor) without the need for a rig or combined Baker Hughes-Greenfire
positioning us long-term to capitalize requiring the well production tubing Energy offering, brings the first
on high-potential growth opportunities to be pulled. integrated Advanced Geothermal
across multiple markets. They also
• Mosaic Materials, focused on Systems solution to the market.
ensure that we have the technological
developing a proprietary direct air Together, the companies plan to
capability to drive reductions of CO2e in
capture technology using metal- expand geothermal resources
the energy and industrial sectors. Our
organic framework materials that development by retrofitting both
strategic investments and acquisitions
can be used to separate CO2 from existing non-producing geothermal
targeted emerging energy technologies
gas mixtures across a variety of and oil and gas wells to closed-
to advance CCUS, hydrogen, net-zero
applications. Mosaic enhances our loop heat producing wells for
power and e-fuels solutions.
carbon capture, utilization, and power generation and direct use
storage portfolio, enabling direct air applications.
Acquisitions
capture with higher efficiency and • NET Power, Baker Hughes has joined
• Qi2 Elements, a designer and lower total cost of ownership. a strategic partnership with and
manufacturer of advanced robotic • Quest Integrity, a global leader invested in NET Power to advance
sensor systems that inspect, assess, in the development and the technical and commercial
and monitor the integrity of critical delivery of technology-enabled deployment of NET Power’s low-cost,
energy infrastructure. Qi2 Elements asset inspection and reliability electric power system that generates
extended Baker Hughes asset management solutions across the no atmospheric emissions and
inspection technology offering across pipeline, refining, petrochemical, inherently captures all CO2.
a wider range of critical customer and power generation sectors. This
equipment, including pipelines and complements our existing asset
storage tanks. integrity offerings and will support
• AccessESP, a leading provider of customers with the delivery of
advanced technology for artificial actionable insights on a broader
lift solutions to further transform range of industrial infrastructure.

Our values and culture

At the core of who we are is a strong set of values that guide our behavior. Our values provide a
simple, memorable, and action-orientated way of expressing our culture. As a result, we have a
culture of performance, inclusion, safety, and integrity. Read more about how we’re bringing these
cultural attributes to life in the following People, Planet, and Principles sections.

Grow What does it mean to grow? Why it matters

• Learn continually The energy transition will present

See challenge as opportunity scenarios we have yet to imagine. By
• Be adaptable
and learn every day. embracing a growth mindset, we will be
• Manage ambiguity
ready to adapt and win.
• Be resilient

Collaborate What does it mean to

collaborate?
Why it matters

Collaboration sits at the heart of our

Inspire, be inclusive, and bring • Instill trust efforts to transform the core, invest for
out the best in each other. growth, and position for new frontiers.
• Communicate openly
Without collaboration, we will not survive
• Manage conflict
through the energy transition.
• Value difference
• Partner with communities

Lead What does it mean to lead? Why it matters

• Cultivate innovation Customers are looking for strategic

Make, invent, and perform partners as they move forward through
• Empower others
with impact. the energy transition. Our people, our
• Be accountable
innovative solutions, and our consistent
• Deliver results delivery will differentiate us against
competitors.

Care What does it mean to care? Why it matters

• Focus on the customer Every day, people choose to work with
Do the right thing, always, for our Baker Hughes because they know we
• Develop others
customers, our people, and the care. Our dedication to our people, our
environment. • Practice sustainability
customers, and the environment, along
• Own integrity with our relentless focus on doing the
• Be responsible for safety, right thing, make us a company like no
quality, and compliance other.

28 Materiality assessment

30 Stakeholder engagement

Benchmarking Internal stakeholder Sustainability

engagement strategy

11 50+ 25
cross-industry subject matter public commitments
companies were experts were set across our focus
selected engaged across the areas
business segments
48 ESG topics
30+ driven by 30+ key
assessed for each
company
20+ workshops and deep
dives
initiatives

Our sustainability strategy The following processes helped to inform our sustainability
strategy:
In 2022, the oil and gas macroeconomic environment
continued to be dynamic. We believe the world’s reliance on • Benchmarking: By identifying the most relevant topics, we
hydrocarbons will not disappear, and oil and gas will continue were able to develop both short- and long-term strategies
to remain relevant in meeting global energy demand while that better position us to buffer risks, catalyze opportunities,
moving the world to a lower carbon economy. Despite an and create value for our shareholders.
increase in fossil fuel use in some parts of the world, the
• Materiality assessment: Our sustainability strategy is
energy transition continued to accelerate, with governments
aimed at addressing issues identified as being most
and society focused on reducing CO2e emissions while trying
important to our business through our materiality
to balance energy security, sustainability, and affordability.
assessment. The identified issues were viewed as an
interconnected ecosystem that required an integrated
At Baker Hughes, sustainability starts with our people.
strategy designed to embed sustainability within existing
Our people are central to our purpose of taking energy
business processes and the overall business strategy.
forward. Only with a true culture of sustainability will our
people be empowered to make sustainable choices, tackle
This information advised the development of our sustainability
the hardest challenges, and take positive action for the planet.
framework outlined in Figure 3-2, which was constructed to
create social, environmental, and economic value with the
That is why we developed a comprehensive sustainability
focus on driving investment and performance. The results of
strategy which serves as our roadmap to embed people,
our benchmarking analysis and materiality assessment were
planet, and principles into the fabric of how we do business,
aligned with our existing framework driven by three focus
positioning Baker Hughes as the energy technology company
areas: People, Planet, and Principles.
of choice. Only by linking our culture of sustainability to how we
solve the biggest challenges can we deliver on our promises.
We then articulated six main goals that serve as the backbone
of our strategy which will help us to achieve our long-term
Strategy Development
vision. These goals have and will continue to provide the
We applied a rigorous process to identify risk, benchmark framework and subsequent activities to drive sustainable
ourselves across multiple industries, and key in on the areas operations at Baker Hughes.
that really matter — or are important — to our Company and
our stakeholders. Our 12 objectives articulate how our purpose-driven focus
areas are linked to the most pressing issues identified by
internal and external stakeholders. These objectives were
developed to urge specific actions that will drive sustainable
operations at Baker Hughes and at our customer sites.

26 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Our strategic outcomes were defined to help us measure our own By applying input from internal and external stakeholders and
performance as we work to deliver on our objectives and goals for engaging subject matter experts from across our business segments,
People, Planet, and Principles. our vision, goals, and outcomes are aligned to buffer risk and
catalyze opportunity.

Figure 3-2: Our strategy framework

OUR GOALS HOW WE WILL DELIVER SUCCESS HOW WE WILL MEASURE SUCCESS

• Increase women and people of color representation

1. Attract, retain, and • Ensure we attract, retain, and year-on-year (YOY)
develop diverse talent
develop a diverse • Retention parity across under-represented groups
workforce of the future • Commit to progress on
• Best-in-class talent management and acquisition
diversity, equity, and inclusion
People

• Achieve top quartile inclusion index rating annually

• Track diverse supplier spend

2. Actively engage • Engage with communities in • Track spend to support global communities
which we live and work
our people and our • YOY increase in employee volunteer hours
communities • Embed sustainability as
• Company-wide engagement plan aimed at driving
everyone’s responsibility
habits of sustainability

• Reduce scope 3 emissions by 2033

1. Pioneer low carbon • YOY increase R&D funded by external sources

• Enable our partners to thrive
energy solutions to in a low-carbon world • BH positioned early and recognized as key technology
deliver value for our provider
• Become a Net-Zero business
customers by 2050 • Reduce scope 1 and 2 CO2e emissions by 50% by 2030
• Complete life cycle assessments for the >95% emissions
Planet

intensive products by 2026

• Complete proactive strategic policy framework for all
growth areas
2. Champion • Reduce spills and report • Reduce spills at our sites
environmental them transparently • Reduce usage in water-stressed sites by 2030
stewardship and • Minimize the resources we use • Reduce waste to landfill by 2030
minimize our footprint
• Assess 100% of sites for biodiversity risk by 2030 and
implement risk management programs for high-risk sites

• 100% of targeted personnel trained annually on

1. Drive a culture of human rights policies and procedures
1. Drive a culture of • Champion compliance
transparency and and ethics
transparency and • Specialized human rights training completed for >80%
integrity - doing the
integrity - doing the • Ensure sustainable SSRP auditors and sourcing by 2025
right thing beyond
right thing beyond governance
compliance • Process to record, track, and monitor human rights
compliance grievances in place Q1 2024
Principles

• Total Recordable Incident Rate <0.3

• All Perfect HSE Days
• Active suppliers assessed for environmental criteria every
2. Take energy forward three years
2. Take energy forward • Uphold the highest health, safety,
responsibly with • 90% of Supplier Social Responsibility (SSRP) audit red-flag
responsibly with and environment standards
integrity and findings closed within 90 days
integrity and • Strive for principled, diverse, and
transparency
transparency inclusive supply chains • 90% completion rate for SSRP planned audits
• 80% of suppliers agreeing to BH Integrity Guide by 2030

Materiality assessment Our approach to the materiality assessment

Our annual materiality assessment was conducted using best

As the world has continued to change, so too have
practices and aligned to the most widely recognized reporting
the priorities of our stakeholders. Our structured
frameworks, such as the Global Reporting Initiative (GRI) and
materiality2 assessment provided a critical foundation
Sustainability Accounting Standards Board (SASB). Our processes
for our sustainability strategy and helped us ensure
assessed our peers and customers in the energy technology
the developed strategies are aligned to the issues that
sector, reporting landscapes, and global trends. We then collected
have an impact on and relevance to our business,
qualitative and quantitative data through engagement with
communities, and planet.
customers, investors, employees, trade associations, and think
tanks. After the survey data was collected, follow-up interviews
were completed and analyzed. We utilized the best practice to
position topics relative to the degree of stakeholder interest and
potential business impact on the following materiality matrix.

2 The terms "material" and "materiality" are used in the context of each respective ESG standard and do not imply financial or legal materiality.

22
4
17
1
31
20
13
15
24
18
6
12
19
2 Focus on the
11 areas that matter
26 (External Input)
3 Figure 3-3:
8 Materiality
9 assessment
5
7
Lower

Lower BUSINESS IMPACT Higher

Baker Hughes ESG Materiality (2022)

People Planet Principles

1. Attracting, retaining, 10. Air & greenhouse gas (GHG) 20. Corporate governance
& developing talent reduction 21. Cybersecurity & data protection
2. Collaboration with academia 11. Biodiversity impact 22. ESG reporting & transparency
& non-governmental 12. Circular economy & waste 23. Ethics & compliance
organizations management 24. Geopolitical climate
3. Community impact 13. Climate-related risks 25. Global health emergency response
4. Diversity, equity, & inclusion 14. Energy transition strategy 26. Green investments
5. Employee benefits & well-being 15. Publicly stated net-zero pathways 27. Health, safety, & environment
6. Employee engagement 16. R&D investment to accelerate energy management
7. Just transition principles transition 28. Human rights & modern slavery
8. Stakeholder engagement 17. Product emissions 29. Labor rights
9. Supplier diversity 18. Renewable energy sourcing 30. Physical security
19. Water management
31. Sustainable supply chain

Hear CEO Lorenzo Simonelli discuss the role of

hydrocarbons in the future.

In November 2022, Baker Hughes attended the

27th United Nations Climate Change Conference
(COP27) in Sharm El-Sheikh, Egypt, to foster direct
dialogue with governments and develop a further
ecosystem of partnerships, commercial opportunities,
and sustainability programs. Baker Hughes’ deep
engagement in COP27 highlighted our industry
leadership and commitment to a sustainable future.

Stakeholder engagement
Stakeholder engagement allows us • Digital Climate Alliance • National Association of
to collaborate and build coalitions • European Geothermal Energy Council Manufacturers
with organizations that help advance • National Petroleum Council
• Geothermal Rising
our strategic goals and objectives.
• Global Carbon Capture and Storage • Oil and Gas Climate Initiative
We established relationships with
groups and entities aligned with our Institute • Offshore Energies UK
purpose, strategy and values, corporate • Hydrogen Council • Resources for the Future
commercial and sustainability
• Hydrogen Europe • The Nature Conservancy
strategies, and policy positions. Active
participation in associations, think • IEA Greenhouse Gas Research and • United Nations Environmental
tanks, consortiums, and academic Development Program Program
partnerships across our businesses and • International Geothermal Association • World Cement Association
geographies helps us gain valuable
• International Labor Organization • World Resources Institute
insights and the impactful presence
needed to be an industry leader for a • International Association of Oil and
lower-carbon future. Gas Producers
• International Renewable Energy
We worked with several key
Agency
organizations including:
• Ipieca
• American Fuel and Petrochemical • Keystone Policy Center
Manufacturers
• Long Duration Energy Storage
• American Petroleum Institute Council
• Confindustria

The high-level meeting brings together

European clean energy industry
leaders representing the full spectrum
of the EU’s clean energy industry to
discuss how to improve European
industrial competitiveness.

The CEIF focused on the recently

announced REPowerEU plan, which
included permitting reforms to speed
up approvals for clean energy projects
across the EU. Our team offered three
concrete actions that the Commission
could take to build on these reforms
and accelerate geothermal
deployment across Europe.

We engage with trade associations

such as the European Geothermal
Energy Council, Geothermal Rising,
Society of Petroleum Engineers,
and the International Geothermal
Association.

Our ongoing energy transition

policy work and global government
advocacy are vital to shaping the
energy and climate policies that will
define tomorrow’s energy systems.

Alessia Becco | Quality Coordinator Module Construction

Avenza Plant, Industrial & Energy Technology

STAKEHOLDER FORMS OF ENGAGEMENT FREQUENCY EXAMPLE ENGAGEMENT

Customers Global, regional, and local industry Our senior leaders and We launched the Wells2Watts consortium with
events, forums, and conferences. commercial teams Continental Resources, INPEX, and Chesapeake Energy
actively participate in Corporation, with support from technology providers,
Proprietary Company events and
hundreds of customer including Vallourec and GreenFire Energy, to explore
meetings.
events and meetings technology for converting and retrofitting oil and
Partnerships and working groups to across the globe. gas wells for geothermal energy, revitalize dry non-
advance best practices. productive geothermal wells, and develop greenfield
opportunities for geothermal renewable electricity
production. With industry partners, this collaboration
looks to accelerate technology development and
commercially scale geothermal as a baseload energy
supply.

Investors Via public quarterly earnings calls, We inform our investors Please see our Investor Relations website for additional
annual shareholder meeting, executive and analysts about our information on engagements in 2022.
meetings, and presentations. operations formally
on a quarterly and
Outreach program led by our Investor
annual basis, as well as
Relations group, the Corporate
proactively engage in
Secretary’s Office, and Executive
year-round integrated
Compensation Team.
outreach, to monitor
developments in
corporate governance
and sustainability.

Employees We engage with employees through We exchange ideas Employee engagement on sustainability is outlined in
town hall meetings, interactive and feedback with our the People section, on page 54-55.
online forums, and People Leader employees across a wide
engagement. Thousands of employees array of communications
belong to Employee Resource Groups, channels weekly, monthly,
many with senior leader sponsors. quarterly, and annually.
Our CEO also meets regularly with the
Employee Pulse Group.

Communities Civic engagement through economic We have ongoing dialogue Community engagements are outlined in the People
development groups, chambers with community partners section, on page 53-55.
of commerce, and related forums. on charitable projects and
Collaboration and social investments planning for employee
where we operate and in support of volunteerism.
broader society.

Governments Formal and informal bilateral meetings Given the breadth and We became a founding supporter of the HALO Hydrogen
with public officials at all levels of scope of our industry and Hub in 2022, a three-state coalition to pursue hydrogen
government. Lobbying and other the global footprint in which development funding from the U.S. Department of
direct engagement in compliance with we operate, Baker Hughes Energy. We are working with governments, academia,
applicable laws and regulations. senior leaders across our community stakeholders, and customers to help create
operations engage with at the infrastructure, technology, and policy needed to
all levels of government on grow hydrogen as a zero-emissions fuel source.
a regular basis.

Policy Membership participation across the Our participation in Ipieca is the global oil and gas association for
groups and globe. Working groups, committees, and industry groups includes advancing environmental and social performance
associations public-private partnership activities monthly, quarterly, and across the energy transition. In addition to a seat on
in industry groups and associations. annual meetings, events, the executive committee and multiple workstreams, we
Leadership and committee positions and engagement to contributed to the COP27 Task Force and participated
that extend and strengthen advance best practices in an Ipieca industry panel at COP27 in Egypt to discuss
organizational capabilities. and policy positions. technology and innovation needs for a net-zero future.
Ipieca was also a guest speaker for our internal Let’s Talk
Sustainability webinar series, where Ipieca shared their
focus on social and environmental industry priorities in
line with our strategy.

Universities, Connections, collaborations, and We participate in The European Geothermal Energy Council (EGEC)
institutions, partnerships on a variety of shared multiple opportunities promotes the European geothermal industry and
and NGOs business, industry, social, and to collaborate with enables its development both in Europe and worldwide
environmental interests globally. institutions and by shaping policy, improving business conditions, and
organizations on public driving research and development. We increased our
policy, regulations, engagement and participation in 2022 by being elected
technology roadmaps, to the Board of Directors and sponsoring EGEC’s 2022
and a variety of research annual conference.
projects.

Public policy and working with governments As stated in our public Lobbying Activity Policy, we may,
from time to time, contribute to candidate or issue
Public policy can have a significant effect on our business committees and other political organizations as generally
and therefore, we believe it is in our best interest and authorized by our Board of Directors and consistent with
that of our stakeholders that our perspective informs applicable laws. We do not currently utilize a Political Action
the development of relevant public policies. Senior Committee. On an annual basis, the Governance and
leaders across our operations engage with public Corporate Responsibility Committee reviews all corporate
officials at all levels of government. Our participation political contributions, as well as all nondeductible
in the policymaking process is subject to an extensive portions of payments in excess of $50,000 made to trade
framework of applicable laws and Company policies that associations. We publicly report information regarding our
demonstrate our commitment to integrity when engaging advocacy activities and political contributions. For the 2022
with government officials. reporting year, we did not make any political contributions.

36 Our people

40 Our People strategy

42 Attract, retain, and develop diverse talent

49 Commit to progress on diversity, equity, and inclusion

53 Engage with communities in which we live and work

56 Embed sustainability as everyone’s responsibility

Sherry Ann Neverson | Performance Optimization Manager, Oilfield Services & Equipment

People
performance snapshot

SUSTAINABILITY PRIORITY KEY PERFORMANCE INDICATORS 3 2020 2021 2022

# of employees completing professional development planning with their manager4 30,906 32,239 45,454

% of voluntary employee attrition 5.8 8.1 8.6

# of employees participating in leadership development programs5 438 393 527

Attract, retain, and
Average hours of training per employee* - 17 37
develop diverse talent
# of employees that were entitled to parental leave** - - 50,283

# of U.S. employees that took parental leave** - - 300

# of U.S. employees that returned from leave in the reporting period following leave** - - 237

% of employees who identify as women in workforce 18.2 18.8 19.1

% of employees who identify as women in Senior Professional Band and

17.0 18.1 18.6
above (SPB+)

% of Board of Directors who identify as women 33.0 33.0 33.0

Commit to progress on
diversity, equity, and % of U.S. employees who identify as people of color (PoC) 35.6 35.8 36.1
inclusion
% of U.S. employees who identify as people of color (PoC) in Senior Professional Band
- 31.6 32.1
and above (SPB+)*

% of people of color (PoC) in the U.S. who identify as women* - 25.0 24.6

% of women in STEM roles* - 11.2 12.1

Total charitable contributions (million USD) $119 $45 $75

Engage with
communities
Volunteer service hours 7,161 16,905 27,181

*New 2021 metric, **New 2022 metric

3 The key performance indicators should be read in connection with Appendix B - Statement and Notes on Selected People Metrics and the glossary of terms.
4 The 2022 number includes Annual Priority Setting discussion, which was not counted in previous years.
5 Programs include ASPIRE, IMPACT, CULTIVATE, and ASCEND. More information found on page 47.

Our people

55K+
As of December 31, 2022, we have approximately
55,000 effective employees in 89 different
countries. Operating across so many markets
provides a diverse set of global perspectives
employees
making our Company stronger, more resilient, and
more responsive to our global customers.

89
Among this employee base, our teams represent
a vast diversity of skills, backgrounds, and cultures.
This enables us to further our goals and values.

We value difference in gender, race, ethnicity, age,

gender identity, sexual orientation, ability, cultural
countries
background, religion, veteran status, experience,
thought, and more across the globe.

We celebrate the diversity and uniqueness of each Interview With Nicole Durham
employee and believe that everyone has the right
to be treated with fairness, dignity, and respect.
Unique ideas and perspectives fuel innovation and
our differences make us stronger.

Together, we are taking energy forward.

6 Undeclared is an option in Workday and represents someone that selected Undeclared as their gender.
7 No gender selected represents someone that did not select any option under Gender category in Workday.
8 Remaining employees in RCIS region are assisting in the Russia wind down or supporting regional customers outside of Russia

6818
17,073
14,080

9,486

7,081

1,006

5,828

Figure 4-2: Employees by gender, age, seniority, and job function

Gender Age

Women
10,554 Over 50
11,274
Men Undeclared6 30-50
43,535 1,140 38,352 Under 30
5,606
No gender
selected7 No age selected
6 3

Seniority Function

Technical
10,389
Senior
Professional Executive
Band and Other
Band and above Production
above 1,183
employees 32,112
(SPB+) employees
Commercial
8,944 (EB+)
4,968
639
Enabling
6,583

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 37
Overall, we did not see a major
fluctuation in our workforce in the
last year. We have full-time roles,
Understanding job functions at Baker Hughes
representing 98.7% of our total
employees. We offer part-time working
arrangements in certain circumstances
and regions to meet the needs of our
employees and local regulations. Refer Technical
to Appendix B - Statement and Notes
Encompasses roles that manage technology capabilities
on Selected People Metrics to find
including technology engineering, project management,
the number of employees by gender,
and software development, among others.
job function, seniority, age, and other
breakdowns. By sharing this detailed
information, you will be able to more Commercial
clearly interpret the data tables found in
the following section. Encompasses roles related to selling or advertising
our organization including sales, marketing, product
In addition to our employees, we development, and mergers and acquisitions.
supplement the skills and people, as
needed, to react flexibly to business and
economic requirements. We partner Enabling
with supplier companies that employ
Encompasses roles that enable the success of the
approximately 24,250 contingent
organization including finance, human resources, legal,
workers that fulfill various roles across
sourcing, and other support functions.
all business segments and regions we
operate.

Production

Encompasses roles that drive production of our products

and services including field operations, logistics,
manufacturing, and client support services.

Other

Represents roles that haven’t yet been aligned to the other

job functions at the time of reporting such as legacy roles
from a merger or acquisition.

OUR GOALS HOW WE WILL DELIVER SUCCESS HOW WE WILL MEASURE SUCCESS

• Increase women and people of color representation

1. Attract, retain, and • Ensure we attract, retain, and year-on-year (YOY)
develop a diverse develop diverse talent • Retention parity across under-represented groups
workforce of the future • Commit to progress on • Best-in-class talent management and acquisition
diversity,equity, and inclusion
People

• Achieve top quartile inclusion index rating annually

• Track diverse supplier spend
• Engage with communities in
2. Actively engage which we live and work • Track spend to support global communities
our people and our • Embed sustainability as • YOY increase in employee volunteer hours
communities everyone’s responsibility • Company-wide engagement plan aimed at driving
habits of sustainability

People are core to who we are as a Company. Our

sustainability strategy begins and ends with the
What’s New for 2022 success of our employees and the communities in
which we work.
In the following sections, you will read about
important new actions we’ve taken in the area The past year continued to challenge employers
of People and social responsibility, including the around the world, and Baker Hughes was no
following key milestones: exception. Lasting impacts of the pandemic persisted
and contributed to the Great Resignation. This
• Aligned across the organization on People-
combined with rising living costs and inflation have
focused strategic goals.
placed new economic pressures on employees and
• Published our inaugural 2021 Diversity, Equity, and communities.
Inclusion Annual Report.
To fully realize our commercial and sustainability
• Implemented a digital capability program as a
outcomes, we have two goals and four objectives that
framework for attracting and developing skill sets.
relate to People. In this section, we discuss our efforts
• Launched new ASCEND leadership development to further those objectives in support of our Company,
program for military officers transitioning to our people, and our communities.
civilian life.
• Created new JOURNEY community for developing
People Leader capabilities.

Offshore Energies United

Kingdom Award for equality,
diversity, and inclusion.

Houston Business Journal

“Outstanding Supplier
Diversity.”

GOLD for “Best use of social/

collaborative learning” and “Best
unique or innovative learning and
development program” by The
Brandon Hall Group. Read more
on page 48.

‘Smart working award 2022’ in

Italy for large enterprises for
being able to implement the most
innovative and digital working
methods as part of our Future of
Work project.

The Alliance 2022 Corporate

Ambassador Award for supporting
Afghan refugees.

Left to Right: Ronnie Russell | Engineering Manager, Mechanical Engineering, CTI

Xiaobin (Betty) Huang | Team Leader, Chemical Engineering and Science, CTI
Le (Lola) Dang | Sr Engineering Manager, Customer Application Engineering, CTI

talent sanctions. We exited the country upon

3,739 the sale of the Oilfield Services business
There’s nothing more exciting than (OFS Russia) in November 2022. As a
working in an industry at a critical result of the sale, we experienced a high
point of change. We continue to take attrition rate in the region.
energy forward, making it safer, cleaner,
and more efficient for people and the Recent workforce challenges, including
planet. We can only achieve that by The Great Resignation, have added
attracting the right people, retaining pressure to organizations on how
974 the right skill sets, and developing a best to attract, retain, and develop
1 diverse talent base. These activities their workforce. In line with recent
Men Women Gender are interconnected, together driving workplace trends, we felt those impacts
Undeclared towards our aim of best-in-class talent as well, with women having a slightly
management and talent acquisition. higher voluntary attrition rate at 9.3%,
By Age compared to men at 8.5%. People
A very active labor market in 2022 under the age of 30 had an attrition
Under 30 30 - 50 Over 50
added complexity in talent retention rate of 15.1%, notably higher than those
and competitiveness. We utilized this in other age groups. This trend is
opportunity to focus on redefining our especially detrimental given women
employee value proposition to underpin make up 19.1% of our workforce. While
774 858
the needs of a changing workforce there are many reasons causing these
while the Company undergoes spikes, we have defined a multifaceted
transformation. This has led to attrition, approach to achieving retention
as well as the hiring of key new talent. parity among under-represented
Despite the intense competition for groups, including succession planning,
talent, our overall voluntary attrition capability development, and a refreshed
rate increased marginally from 8.1% in employee value proposition.
3,082 2021 to 8.6% in 2022. We are proud of
the concerted efforts outlined in the
following pages which minimized these
impacts compared to many other
employment sectors.

By Gender

50+
Internal candidates hired
External candidates hired
69 38
process of manual activities
7,182 2,377 1,174 focus groups and
recommendations and will be automated as
interviews were
technology enablers the result of Reimagine
conducted for Talent
are identified Recruitment program
Acquisition & Onboarding
gap assessment

3,734 1,247
1 1
Men Women Gender No gender
undeclared selected
96 4 100%
pain points were sprints make up a of candidates will
By Age identified as process Reimagine Recruitment experience a new digital
inefficiencies and program that is aiming hiring user experience
technology enablement towards time to hire with Baker Hughes
opportunities reduction
6,353

3,515 3,702
Visit the Baker Hughes Careers website to learn more about
working for Baker Hughes.
807 865
474

Under 30 30 -50 Over 50

Attracting key skills Figure 4-6: Our employee value proposition

through our employee
value proposition
We explored external perceptions Your passion and Your vision, our
through social listening tools and purpose innovation
analyzed data from internal focus
groups to design a new employee
value proposition (EVP) that represents
today’s Baker Hughes. We also Your potential, Your individuality, our
reimagined our recruitment process our growth inclusivity
by implementing key technology
efficiencies such as applying through
LinkedIn and interview self-scheduling.
These enhancements enable a better
candidate experience while reflecting
our values.

Retaining our people by Having regular performance and career core benefit programs ensuring medical
development conversations enables and life insurance protections globally.
investing in our people employees to identify ways to build We also offer, where feasible, additional
Our employees represent valuable key skills and talk about their career flexible benefits promoting physical,
skills, knowledge, and experiences that aspirations. While not all employees emotional, and financial well-being.
are uniquely Baker Hughes. To retain are required to have a year-end Read more about our well-being
those perspectives, we must listen to review (for example, employees strategy in the Principles section on
our employees. Using an employee hired after October 1), we had 75.0% pages 96-97.
listening survey platform we regularly of all employees complete a career
development touchpoint with their We work to ensure the competitiveness
hear directly from our employees
manager. Of those required in the and alignment of these programs
and use feedback collected to drive
Professional Band and above, 95.8% through regular and robust
localized and tailored engagement and
completed a year-end performance benchmarking with market peers. This
career development activities. Through
and career development touchpoint year, we also completed a living wage
informed, customized, and deeply
with their manager. These conversations analysis in the U.S. Outside of the U.S.,
tailored activities we can create a place
act as a catalyst for identifying career we regularly conduct a detailed wage
where our employees will continue to
progression opportunities, and in 2022, analysis as we develop salary structures.
grow, develop, and feel valued for all
4,983 open roles were filled with internal These types of analysis will continue
that they bring.
candidates. Through our strategy we will to be the bedrock of our approach to
maintain our focus on providing best- data-driven decision making.
Table 4-1: Percentage of employees
receiving annual performance and in-class talent management initiatives
career development review9 enabling us to retain our employees by It’s not enough to just collect data.
supporting their career development. That information must be turned into
2022(%)
action. We decided to offer a minimum
All employees 75.0 Figure 4-7: Employees receiving annual
parental leave of 18 weeks for a
performance and career development
Men 72.8 primary parent and two weeks for a
reviews
Women 84.0 secondary parent in all countries where
Gender undeclared 31.0 we have employees.11 This expanded
global coverage and leave benefits
Professional band and above 95.810
(PB+) employees alongside the approved global policy
Senior Professional band and 95.8 changes improve protections and
above (SPB+) employees ease of utilization for our employees
Executive Band employees 94.1
at a pivotal moment in their lives. An
All PB+
important aspect of the intent behind
PB+ by gender** employees employees
these framework changes includes
Men 96.0 75% 96% that gender identification does not
Women 95.3 determine the primary or secondary
PB+ by job function** The challenging economic market parental status for leave eligibility. These
Commercial 93.4 has proven that competitive, fair forward-looking policy changes further
Enabling 95.3 compensation and benefit programs support our commitment to the security
are crucial to the success of any and well-being of our employees
Production 95.5
organization. We offer our employees and our desire to foster a diverse and
Technical 97.8
inclusive workplace.

**New 2022 metric

9 Employees who are not Professional Band and above have a different career development review process and are not included in the numerator of this metric.
10 Leadership Training Band is not included in PB+ for 2022 because they follow their own performance management process.
11 The implementation of parental leave policies has and will occur in a phased approach by country in 2023.

Healthcare plans and life insurance are a core benefit

and are provided in most locations globally.

Our employee assistance program (EAP) provides

impartial professional advice in complex life situations
globally.

Fitness reimbursement program to support health

and wellness at most of our locations.

Various leave-of-absence options help employees

achieve higher quality-of-life needs, including family
care and vacation.

Personal Illness and Personal Business Leave for non-

exempt and Permissive Leave for exempt employees
in U.S.

For new mothers in the U.S., we provide on-site

mother’s rooms at many sites.

We encourage employees to explore ways to better

balance work and personal life through arrangements
such as flexible schedules, compressed work weeks,
hybrid work, remote work, and other options.12

Employee stock programs and retirement saving plans

are available in most locations globally.

Financial assistance to employees pursuing

formal education through the Tuition Reimbursement
Program.13

Financial support for U.S. employees who adopt a child.

For additional information on U.S.-specific benefits

portfolio including retiree benefits offered, visit
www.bakerhughesbenefits.com/guide.

12 This policy is applicable to all employees, but individual circumstances

vary based on local laws and regulations, positions, and job requirements.
13 Offered to eligible employees in Canada, Guyana, Trinidad and Tobago
and the United States as outlined in program policy.

Federico Sicilia | Packaging Supervisor, Industrial & Energy Technology

CORE is a social community and continual, self-directed learning experience

for any employee keen to develop critical leadership behaviors. It is aligned to
our values - grow, collaborate, lead, and care - and the behaviors that support
these values. CORE was launched in 2021 and has since grown into a diverse
and inclusive community with 5,000+ members in 69 countries across business
segments and functions. Employees invested ~17,500 hours towards learning
through CORE in 2022.

Right to left: Victor Sampaio Central Reliability Engineer, Gbenga Osunjaye Sr Product
Management Manager, Nataliya Calahan Central Reliability Engineer, Idil Atalik Sr Manager,
Technical Product Owner (all Oilfield Services & Equipment)

Career transitions

Jobs must sometimes change or be

reduced to meet the needs of our Building core capabilities
customers and our dynamic business
environment.
Critical to the execution of our transformation, we have identified
In the unavoidable event of involuntary four differentiating capabilities. In 2022, we built and implemented a
workforce reductions, we comply with framework that included key activities to attract, retain, and develop
local laws and requirements regarding the Digital capabilities needed for success. We will continue to replicate
notice periods, engagement with works that framework and process for the remaining three capabilities.
councils, and other processes. We
What are the differentiating capabilities?
provide severance payments that meet
or exceed local requirements and offer
outplacement assistance and services
Digital Commercial
in many locations. We employ forward-
looking strategic workforce planning Building digital products Customer-centric solution
to anticipate workforce changes selling
Digital capabilities enable us to
and attempt to redeploy or retrain
build, sell, and support digital Commercial capabilities focus
employees where possible.
products. on meeting customer needs
with solutions-focused offerings.
Supporting future careers
through learning and Sustainability Technology
development Industry-leading solutions for Creating the future of energy
Shaping the future of energy means cleaner energy
Technology capabilities bring to
having the freedom, support, and tools Sustainability capabilities allow life solutions for more sustainable
for employees to define their career us to shape, define, and lead and reliable energy.
path. We offer our people opportunities in sustainable practices and
to learn, grow, and develop their skills in products.
a fast-moving and global environment.

Our formal leadership development programs play a pivotal role in providing

these experiences and building a diverse pipeline of talent within our
organization. Turning this commitment into action in 2022: Table 4-2: Leadership program
participation
• The number of participants in ASPIRE identifying as women increased by 2020 2021 2022

25.0% and IMPACT by 77.8%. CULTIVATE remained a program designed ASPIRE 321 243 300
specifically to develop the employee population that identify as women. IMPACT 16 21 32

• We launched our newest leadership program in partnership with our military CULTIVATE 101 129 191
veterans - ASCEND. This is a transitional leadership program for military leaders ASCEND** - - 4
retiring from the military and joining the civilian workforce. Total 438 393 527

• Overall leadership program participation increased by 34.1%. **New 2022 metric

Learning at Baker Hughes Figure 4-8: Our leadership programs

Our employees have access to more than 70,000 on-demand training ASPIRE
courses that can be accessed anytime, anywhere. Prioritizing professional
development, furthering job-related skills, and enhancing technical A two-year rotational program for
knowledge enables employees to be the architects of their own careers. We recent graduates and early-career
also regularly offer learning events featuring internal and external experts, employees to grow functional and
addressing important topics such as DEI, personal wellness, industry trends, leadership skills through challenging
leadership behaviors, and more. assignmnets, learning plans, and
global cross-functional projects.
Building onto the pilot conducted in 2021, we continued our efforts to expand
the CORE communities in 2022. We did this through successfully launching IMPACT
a new arm of the community called CORE Strengths which is focused on
A three-year leadership accelerator for
critical skills to help move the Company forward. CORE Strengths focuses on
top performing mid-career employees
such areas as coaching skills, project management, leading change, as well
who have already built functional
as people and data analytics.
expertise and are ready to be
developed into our executive pipeline.

CULTIVATE

A one-year non-rotational program

that fosters the development of high-
potential women leaders through
immersive learning experiences and
one-on-one mentoring.

ASCEND

A two-year program for transitioning

junior military officers who are seeking
to launch successful, accelerated,
post-military careers as leaders and
innovators within Baker Hughes.

Global Learning team wins two Brandon Hall Excellence

Awards

The 2022 Brandon Hall Group Human Capital Management

Table 4-3: Average hours of training
Excellence Awards are given for work in learning
2022 14
and development, talent management, leadership
All employees 37
development, talent acquisition, human resources, sales
Men 39 performance, diversity, equity, inclusion, and the future
Women 30 of work.
Gender undeclared 6
Our Learning and Development team has won two gold
By seniority
Brandon Hall awards for its Living Baker Hughes’ Values
Professional Band and above employees 2415
through the CORE community:
Senior Professional Band and above
17
employees • GOLD for “Best use of social/collaborative learning”
Executive Band employees** 12
By business segment • GOLD for “Best unique or innovative learning and
IET employees** 18
development program”

OFSE employees** 51
In addition to expanding CORE, we launched the JOURNEY
Headquarter employees** 18 community, our new community for People Leaders.
By job function JOURNEY is a social community and self-directed
Commercial** 16 learning experience dedicated to helping People Leaders
Enabling** 20 understand themselves, build relationships, develop strong
teams, and help shape vision and strategy to prepare our
Production** 51
organization for the future.
Technical** 18
Other employees** 5

We will remain focused

**New 2022 metric

on attracting, retaining,
14 In 2021, we calculated the average training hours by
aggregating the number of completions then multiplying it by
5 hours to estimate the hours spent on learning. In 2022, we

and developing our talent,

are more specifically representing hours by using estimated
duration field in the learning management system for each
respective course. Where the duration field is blank/empty we

underpinning all that we do.

used the median duration hours of the Activity Type.

15 Leadership Training Band is not included in PB+ for 2022.

Diversity Equity Inclusion Culture

The unique Ensuring fair treatment How we value The set of shared attitudes,
attributes we bring and access to difference, respect, values, goals, and practices
as individuals opportunity to maximize and interact with that characterizes an
an individual’s potential each other institution or organization

Commit to progress on diversity,

equity, and inclusion (DEI)
Our people represent a workforce rich in all facets of diversity. What is the Baker Hughes
We believe that our differences make us stronger and that Inclusive Leadership Model?
unique perspectives fuel innovation. When people thrive, we all
move forward. While diversity, equity, and inclusion (DEI) have
been at the forefront of many organizations over recent years, We all want to work where we feel safe voicing our
our commitment to furthering our progress at an accelerated opinions, comfortable being our true selves, and
rate is steadfast and focused on action. respected for the value we bring. Our inclusive
leadership model identifies six key behaviors that
In June 2022, we published our 2021 inaugural Diversity, Equity, are critical to fostering and sustaining a culture of
and Inclusion Annual Report that laid out our foundational DEI inclusion. The model was established in 2022 and
goals and progress towards those goals. will be rolled out to our organization globally. When
done right, the outcome is an engaged, highly
motivated workforce with higher productivity,
stronger collaboration across teams, and
increased creativity.
Read the 2021 and 2022 Diversity, Equity, and
Inclusion Annual Reports here.

2021 Diversity, 2022 Diversity,

Equity, and Equity, and
Inclusion Annual Inclusion Annual
Report (published Report (published
Use the QR code below
June 2022) May 2023)
to read about what
diversity means to Tano
Ererughurie, a member
Progress against our DEI strategic goals will take time and we
of the Gas Services team
recognize that effort is needed to engrain DEI as part of our
based in Lagos, Nigeria.
cultural transformation. We implemented strategic initiatives
that will set us up for steady progress. A sampling of these
include:

1. Launched the pronunciation and pronouns feature in

Workday, our internal human capital management system,
driving enhanced inclusivity.

2. Recognized as “DEI best places to work for disability

inclusion” by Disability:IN with score of 80% by participating
in Disability Inclusion Index.

3. Developed our Inclusive Leadership Model.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 49
We have strengthened our ability to monitor progress on our DEI goals through close
partnerships and regular meetings with the executive leadership team, our established
global DEI council, and the Human Capital and Compensation Committee of the Board
of Directors.

We are seeing steady progress in diversity representation. Women represent 19.1% of all
employees and 36.1% of employees in the U.S. are people of color. While we feel strongly
that all progress is meaningful, we are committed to furthering that progress at a faster

19%
rate. We have set specific, targeted goals including increasing women and people of
color representation, retention parity across under-represented groups, increasing
spending on diverse suppliers, and diverse and inclusive supply chains.
of all employees
are women

Figure 4-9: Women at Table 4-4: Diversity snapshot

Baker Hughes (%)

2020 2021 2022

Board of Directors
Women at Baker Hughes (%)
33.0% Board of Directors 33.0 33.0 33.0

33%
All employees 18.2 18.8 19.1
All employees
Women in management roles** - - 18.8

of the Board of Directors

19.1% Senior Professional Band 17.0 18.1 18.6
and above (SPB+)
are women
Women in STEM roles* - 11.2 12.1
Women in management roles**

18.8% 2020 2021 2022

People of color in U.S. (%)
Senior Professional Band All employees 35.6 35.8 36.1
and above (SPB+) Women* 25.0 24.6
-
18.6% Men** - - 75.4
Gender undeclared** 0.016
- -
Women in STEM roles*
Senior Professional Band - 31.6 32.1
12.1% and above*

Executive Band and above** - - 28.6

36% *New 2021 metric; ** New 2022 metric

of all employees are

people of color 16 Percentages are rounded to one decimal place. If a percentage shows as 0 that means it is less than .05 percent.

50 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Baker Hughes wins The Offshore Energies
United Kingdom Award for Equality,
Diversity, and Inclusion
The award celebrates various initiatives and efforts in promoting an
inclusive culture. Kim Sabate developed a LGBT STEM program and
championed the creation of a gender transition toolkit, designed to
assist managers in supporting and understanding employees who
are transitioning gender. These initiatives contributed to Baker Hughes
receiving this award for equality, diversity, and inclusion in Scotland.

Kim Sabate collected the Offshore Energies United Kingdom Award for Equality,
Diversity, and Inclusion (EDI) at the industry body’s annual awards ceremony in
Aberdeen, Scotland.

Spotlight on our employee resource groups

Figure 4-10: Employee resource groups

Employee resource groups (ERGs) are made up of employees who have joined together based on shared interests,
characteristics, or life experiences to pursue knowledge, innovation, and shared passions. Working across diverse cultures and
multidisciplinary teams, our people have the opportunity to learn, adapt, and grow on every project. Each new opportunity
comes with a combination of global influence, local impact, and personal fulfillment.

All employees are welcome to join ERGs either as members of the represented communities or as allies. Total ERG membership
increased by 13.1% from prior year with 8,099 employees participating in employee resource groups. This represents 14.4% of our
workforce participating in an ERG.

ERGs have a powerful influence on driving change by elevating the conversations and awareness around key priorities. In
October 2022, we hosted our inaugural ERG summit bringing together employees from over 30 countries. This three-day
investment in our ERGs allowed participants to hear from champions across the organization, learn from external speakers
about best practices, and participate in discussions with our leaders. By enhancing the governance, support, and alignment
across our ERGs, we can foster closer connections between employees and communities around the world.

We also have Community of Interest (COI) groups which are formed by employees to share information and best practices on
a topic. Through more informal engagement, employees can benefit from collaborating with like-minded colleagues. One of
these COI groups is the Renew Community. Renew is focused on sharing ways to work and live more sustainably. Read more
about Renew and how its furthering our strategy on pages 56-57.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 51
Celebrating diversity, equity, and inclusion
while raising funds for those in need
Over 400 people joined the second Baker Hughes diversity, equity,
and inclusion run in Talamona, Italy. Participants included our
employees, residents, and charity association members. Funds
collected and donated as part of the initiative contributed as
emergency support following the devastating flood that hit the
Marche region in Italy.

This run was organized in collaboration with the main local

associations that promote diversity and inclusion, diversity in
physical and cognitive abilities, gender, and sexual orientation,
as well as inclusion of minorities overall. The Talamona site
is recognized for its technology excellence and for its strong
commitment to promoting thevalues of diversity, equity, and
inclusion within Baker Hughes and with local communities.

DEI outreach in the community

Our care and respect for one another also extends to the communities we
serve and partnerships we create. We are proud of our social impact in the
local communities where we live and work, such as:

• The reporting year was the second year in which ERGs were involved
in the decision making for our Foundation grant-giving process. Each
ERG nominated a charity of their choice to be given a grant. As a
result, $270,000 of Baker Hughes Foundation giving was committed
to diverse communities. Learn more about additional philanthropic
contributions to communities on page 53.
• The Baker Hughes Foundation pledged $1 million in grants to four
Historically Black Colleges and Universities for the 2022-23 academic
year, part of the Foundation’s long-running mission to promote
education and opportunity in the communities where our employees
live and work. The funds will help provide financial support for a wide
variety of STEM programs, professional certifications, scholarships, and
career readiness and curriculum development programs.

Read more about how we engage with and give back to our communities in
the next section.

Karla Pedroza | Aspire Field Service Leadership Program,

Industrial & Energy Technology

52 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Engage with
communities in
Philanthropic contributions
which we live
and work We pledged approximately $2 million in strategic grants through
the Baker Hughes Foundation in support of the UN Sustainable
We strive to be proactive global Development Goals in 2022. Above and beyond strategic grants, the
citizens, seeking to make a positive Baker Hughes Foundation matches employee contributions to qualified
impact on society, the economy, non-profits, up to $5,000 per person per year. In 2022, many of our
and the environment. We focused people participated in organized fundraisers, personal giving, and
more deeply on an aligned giving matching gifts.
strategy and re-engaging through
volunteerism activities in 2022. $925K supporting DEI, Education, and Opportunity

• Historically Black Colleges and Universities (HBCUs)

Our community outreach strategy
and execution are overseen by • ERG-nominated charities (Gigi’s Playhouse, Junior Achievement,
a dedicated communications Folds of Honor)
team and governed by the Board • Singapore Management University
of Trustees of the Baker Hughes • Houston Minority Supplier Development Council
Foundation. This board is comprised • Emancipation Park Conservancy
of four senior executives within the
• Tech for Troops
Company. We report our community
• Children’s Environmental Literacy Foundation
affairs performance and plans to
the Governance and Corporate
$417K supporting Health, Safety and Wellness, and Disaster Relief
Responsibility Committee annually.
• Feed the Hunger
About the Baker Hughes • Red Cross societies

Foundation • MD Anderson Center

For 25 years, the Baker Hughes $650K supporting Environment

Foundation has been a steward of
• One Tree Planted
charitable resources for meaningful
• Coastal Prairie Conservancy
community impact. The Foundation
seeks to advance environmental • American Forest Foundation
quality, education, health, safety,
and wellness around the world by
supporting organizations with shared
values, demonstrated leadership,
evidence of impact, financial
soundness, and the capacity to
implement initiatives and evaluate
their success. The Baker Hughes
Foundation makes strategic
philanthropic contributions, matches
employee contributions, and awards
volunteer recognition grants for
outstanding employee community
service.

Our people combine a powerful

sense of purpose with the passion
and pioneering spirit to make a
meaningful impact. When our
employees volunteer their time 27,181
1,181
and energy in their communities,
797 16,905
they are putting ‘Care’ - one of our
250 7,161
core values - into action. As we
emerge from the pandemic and 2020 2021 2022 2020 2021 2022
the return of in-person volunteering,
we saw more engagement in
2022, with a 48.2% increase in In November 2022, the Baker Hughes
the number of unique volunteer
Foundation announced $425,000
participants and 60.8% increase in
to Dynamo Camp, a children’s
total volunteer hours - our largest
recreational therapy camp in Italy
year-over-year increase in recent
years. Empowering our people The Baker Hughes Foundation’s
to look to the future and make a contribution will support energy
difference excites and inspires efficiency upgrades on an iconic but
us every day. We will continue to underused historical building dating
drive a culture of volunteerism and back to the early 1900s. The upgrades
aligned charitable giving strategy will also allow Dynamo Camp to expand
with our communities in the most capacity though a new space dedicated
meaningful way. to activities for campers and 18 new beds
for staff and volunteers.

This donation also supports our

commitment to advancing SDG 3.
Photo courtesy of Dynamo Camp

Table 4-5: Community contributions17

2020 2021 2022

Matched employee financial contributions made by foundation $800,000 $669,215 $756,121

Company and foundation financial pledges and contributions18 $2,966,951 $2,578,208 $1,992,500

Company in-kind contributions 19

$115,070,021 $41,967,750 $72,524,166

Total charitable pledges and contributions $118,836,972 $45,215,173 $75,272,787

17 Contributions are reported when the contract is signed and payments may be made in 2022 or 2023.
18 2022 financial contributions based on Baker Hughes Foundation financial contributions only.
19 Company In-kind contributions represent OFSE business segment software license donations only.

54 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Our employees plant
trees, supporting
global reforestation
In partnership with One
Tree Planted, a non-profit
organization, the Baker
Hughes Foundation issued a
$350,000 grant. Additionally,
our employee volunteers
participated in three planting
events across the globe in 2022
– Houston, Dubai and England.
These types of events help
contribute to outcomes such
as erosion control, biodiversity,
forest fire restoration, carbon
Chairman and CEO Lorenzo Simonelli, Chief HR Officer Deanna Jones, Chief Diversity, sequestration, and economic
Equity, and Inclusion Officer Nicole Durham, and Baker Hughes employees present diversification.
donation check to Emancipation Park Conservancy.

The Baker Hughes Foundation announced a

$100,000 grant to Houston’s Emancipation Park
Conservancy (EPC) The work we do
Purchased by a group of African American community leaders for one is not just about
of the nation’s original Juneteenth celebrations, Emancipation Park was
donated to the city of Houston in 1916 and remained the only public trees. It’s about
park open to Black residents for more than 20 years. The funds given will
support the conservancy’s mission to preserve the park’s integrity and
the planet’s
enrich its heritage as a local, state, national, and international landmark. life support
This announcement marked the third consecutive year the Baker Hughes
Foundation has supported EPC through charitable giving. systems for
EPC aligns with Baker Hughes Foundation’s mission to promote education, clean air, water,
environment, and health and safety in the communities where the
Company operates.
biodiversity,
climate, health,
and social
impact — what
we call the
6 pillars of
reforestation.

Matt Hill, Chief

Environmental Optimist at
One Tree Planted

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 55
Embed sustainability Highlighting the Renew
Community
as everyone’s
responsibility Working together in collaboration with
talented colleagues accelerates our
Every employee has a role to play ability to deliver on our sustainability
in our transformation. Becoming an commitments. The Renew Community
energy technology Company requires provides a global network for our
a transformation at all levels of the employees with a mission to share
organization, including our culture. information, resources, and ideas on
To deliver the energy security and how to operate more sustainably.
sustainability that makes affordable, Renew is a crucial enabler of ongoing
cleaner energy accessible to everyone innovation to improve operations and
we must embed sustainability as reduce CO2e emissions across our entire
everyone’s responsibility at Baker value chain.
Hughes. All employees in all roles across
the Company can learn how to work Our employees are eager to get
and live more sustainably. engaged and learn about sustainable
habits. We will be developing
In 2022, we held knowledge sharing sustainability training, driving
sessions and two flagship events for engagement campaigns, identifying
Earth Day and Environment Awareness incentives, and expanding the Renew
month. These activities along with Community aimed at embedding
regular communication through sustainable habits into all that we do.
our Renew Community are driving
awareness deeper into the organization.

The Carbon Out initiative showcases

how our employees are taking charge
and making a difference in their roles
today. Read more about Carbon Out on
pages 64-65.

Mission

Employee Knowledge and External thought

engagement and resource sharing leadership
empowerment

Flagship events

Earth Day Environmental Knowledge

Challenge April Awareness Month sharing sessions
2022 September 2022 all year

Engagement

2,062 Renew virtual

engagements 538 Messages in
the platform
292 Unique
participants

Renew Membership

861 Members as
of November 244 2022
additions 28 Membership
roadshows 50+ Employees
recognized as
2022 Sustainability
Champions

60 Our Planet strategy

62 Become a net-zero emissions business by 2050

66 Enable our partners to thrive in a low carbon world

70 Minimize the resources we use

78 Reduce spills and report them transparently

Planet
performance snapshot

SUSTAINABILITY PRIORITY KEY PERFORMANCE INDICATORS 2020 2021 2022

Energy transition business

Product lifecycle assessments completed 1 7 43
impacts and innovation
Water withdrawn (million liters) 4,797 3,143 3,214
Water Water consumed (million liters) 552 374 559
Water discharged (million liters) 4,245 2,769 2,655
Significant spills (barrels) 738 1,693 827
Oil spills (barrels) 28 6 37
Fuel spills (barrels) <1 2 3
Spills
Waste spills (barrels) <1 1 1
Chemical spills (barrels) 155 130 378
Hydrocarbon spills in the Arctic* - - -
# of IUCN Red List Species 1 201 392
# of species - Least concern - 71 251
# of species - Near threatened - 4 14
Biodiversity
# of species - Vulnerable - 74 78
# of species - Endangered - 39 38
# of species - Critically endangered - 13 11
Waste generated (metric tons) 680,790 482,806 235,403
Waste20 Waste recycled (metric tons) 214,043 125,222 57,666
Waste disposed (metric tons) 466,747 357,584 177,737

SUSTAINABILITY PRIORITY KEY PERFORMANCE INDICATORS 2019 2022

Total scope 1 emissions (MT CO2e) 500,604 376,172

Total scope 2 indirect emissions - market based (MT CO2e) 286,752 193,933
Total scope 1 and 2 emissions (MT CO2e) 787,356 570,105
Emissions
Total scope 3 emissions (MT CO2e) 188,223,561 252,414,204
Production, imports, and exports of ozone-depleting substances
- -
(MT CFC-11 equivalent)**
% of electricity from zero-emission sources21 14% 26%
Total electricity (MWh) 741,375 604,093
Renewable electricity (MWh) 104,307 137,327
Non-renewable electricity (MWh) 637,068 466,766
Total fuels (MWh) 2,211,833 1,609,879
Energy
Diesel/Distillate (MWh) 763,099 472,915
Natural gas (MWh) 1,062,286 875,344
Gasoline/Petrol (MWh) 384,407 252,227
Propane (MWh) 2,040 6,797
Other fuels (MWh) - 2,595
Total energy (MWh) 2,953,208 2,213,972
Energy intensity (MWh/ $ of revenue) 0.00012 0.00010

*New 2021 metric, **New 2022 metric

20 Change in methodology in 2022. Years 2020 and 2021 data were not recalculated and verified with new method and cannot be directly compared.
21 This 26% represents our total zero-emission electricity usage; this is the sum of renewable energy and nuclear energy (a non-renewable, zero-emission source).

OUR GOALS HOW WE WILL DELIVER SUCCESS HOW WE WILL MEASURE SUCCESS

• Reduce scope 3 emissions by 2033

• Enable our partners to • YOY increase R&D funded by external sources
1. Pioneer low carbon
thrive in a low carbon
energy solutions to • BH positioned early & recognized as key technology provider
world
deliver value for our • Reduce scope 1 and 2 CO2e emissions by 50% by 2030
• Become a Net-Zero
customers
business by 2050 • Complete life cycle assessments for the >95% emissions intensive
products by 2026
Planet

• Complete proactive strategic policy framework for all growth

areas
2. Champion • Reduce spills at our sites
• Reduce spills and report
environmental • Reduce usage in water-stressed sites by 2030
them transparently
stewardship and
• Minimize the resources • Reduce waste to landfill by 2030
minimize our footprint
we use • Assess 100% of sites for biodiversity risk by 2030 and implement risk
management programs for high-risk sites

While the world continues to address energy security,

sustainability, and affordability, the need and urgency of
carbon dioxide equivalent (CO2e) reductions and conservation
What’s New for 2022
of environmental resources are becoming stronger.
• Reduced our scope 1 and 2 CO2e emissions
Guided by our alignment with the Paris Agreement, we’ve from our 2019 base year.
set out a clear pathway to reduce our scope 1 and 2 CO2e
• Expanded the breadth and depth of our
emissions to net-zero by 2050 and be a sustainable solutions
Carbon Out program to further operationalize
provider for our customers.
CO2e emissions reductions and drive
Our Planet strategy has environmental stewardship at its core. sustainable behaviors across the business.
We developed two key focus areas comprised of specific • Scaled the adoption of our proprietary life
outcomes to drive our strategy forward. Our performance to cycle assessment tool, FastLCA, to measure
these outcomes in 2022 is detailed in this section. the carbon footprint of our products and
services.
To address our Planet strategic goals, we leveraged
• Deepened our supplier engagement to better
conservation measures, circularity, life cycle assessments,
understand supplier CO2e emissions data for
and CO2e emissions reduction projects across our facilities
our top tier suppliers.
and field sites. Our efforts to drive sustainable operations are
accomplished by our greatest asset - our people. • Continued to advance automation
of emissions data and strong internal
controllership of all Planet data.
• Continued expansion of third-party assurance
to include our waste metrics.

26 %
Electricity sourced
from zero-emission
sources

10
Scope 3 emissions
categories reported
with limited
assurance

57,666
Metric tons of
waste recycled

In 2022, we advanced progress on our net-zero journey and

further refined our calculation and estimation methodology Figure 5-1: Total scope 1 and 2 emissions by year (MT CO2e)
to improve our reporting processes. Our main reduction
pathways were a result of executed energy efficiency Scope 1 Scope 2, market based
initiatives, facility consolidations, and increased electricity
from renewable and zero-carbon sources.
286,752
As an energy technology company, we strive to reduce our 193,933
CO2e emissions in our manufacturing, operations, and how
we provide services to our customers. This will be achieved 500,604
376,172
through increased energy efficiency throughout our
operations, and adoption of renewable electricity across our
2019 2022
global footprint of facilities.

Table 5-1: Scope 1 and 2 emissions by year (MT CO2e)

Scope 1 and 2 CO2e emissions REDUCTION
% REDUCTION
reduced by 28% through 2022 2019 2022 FROM 2019
(MT CO 2E )
FROM 2019

We are striving to reach our interim target of reducing Scope 1 500,604 376,172 124,432 25%
scope 1 and 2 CO2e emissions by 50% by 2030. We
Scope 2
compare our emissions reduction progress to a 2019 286,752 193,933 92,819 32%
market based22
base year. We utilize this base year, as it was the first
Scope 2
full performance year of the Company following the 295,317 210,902 84,415 29%
location based
spin out of Baker Hughes from GE. Additionally, 2019
was a typical year from an operations standpoint Total 787,356 570,105 217,251 28%
and did not have an artificially high or low emissions
performance year for scope 1 and 2. It was, however,
an anomolously low year in terms of our Gas Tech
Table 5-2: Scope 1 emissions breakdown (MT CO2e)
equipment string testing, which utilizes natural Gas
Tech. Thus, the use of natural gas has increased as 2019 2022 % REDUCTION FROM 2019
we have performed more equipment testing, but we
are working to find alternative sources of renewable Facilities 161,557 111,871 31%
natural gas for this testing.
Vehicles 141,380 92,243 35%

• During 2022, our combined scope 1 and 2 CO2e Field activities 197,667 172,058 13%

emissions were 28% lower than our 2019 base year.

Total 500,604 376,172 25%

• Our scope 1 emissions decreased from 500,604 MT

CO2e in 2019 to 376,172 MT CO2e in 2022.

31%
in CO2e emissions from all
• Our scope 2 emissions decreased from 286,752 MT
Baker Hughes controlled facilities
CO2e in 2019 to 193,933 MT CO2e in 2022.
in 2022 versus our 2019 base year.

reduction

22 Please see Note 2 - GHG reporting organizational boundaries, Statement and Notes on Greenhouse Gas CO2e Emissions for definition of market-based.

• Dedicated energy conservation emission electricity

26%
Of our electricity comes from
efforts and daily process changes. renewable or other zero-emission
We continued to find opportunities sources, such as nuclear.
• Implemented sustainable standards
to use renewable and zero-emission
in new building construction,
energy sources both onsite and offsite Non-Renewable,
renovation, and retrofits. zero-emission
across all our global locations. From Renewable,
20,575
• Reduced time and energy usage the United States to Brazil, Italy, and zero-emission
during the manufacturing process. Singapore, we continued to procure 137,327
renewable energy through power
Field activities and fleet emissions both purchase agreements (PPAs), and
had a reduction from our base year of collaborations with retail energy
2019, however, there was an increase in providers. We continued to adhere to
our CO2e emissions in both categories MWh
our policy of not utilizing carbon offsets
compared to last year’s totals primarily until such time that all achievable
due to an increase in activity for our carbon reduction is completed.
customers that required more driving Non-
Renewable
and fuel consumption at field sites. At Baker Hughes, our emissions
446,191
Despite these headwinds, our total reduction strategy, in the short and
scope 1 and 2 emissions have improved medium term, does not include the
year-over-year. use of carbon offsets or virtual power
purchase agreements (vPPAs). Our Table 5-3: Energy use by category (MWh)
• 35% CO2e emission reduction from strategy to reach our emission reduction 2019 2022
fleet activities compared to our 2019 goals leverages Renewable Energy
base year. Renewable
Credits (RECs), Renewable Energy 104,307 137,327
electricity
• 13% CO2e emission reduction in field Guarantees of Origin (REGOs), or similar
Non-Renewable
activities versus our 2019 base year. certificates when tied to a local market 637,068 466,766
electricity
of electricity generation or PPA.
Total electricity 741,375 604,093
For fleet and field related emissions, we
continued to execute on CO2e reduction In 2022, we redefined our methodology Diesel/Distillate 1,062,286 875,344
activities such as: to further specify how we apply zero-
Natural gas 763,099 472,915
emission certificates. Our revised
• Tracking and reduction of boundary includes Baker Hughes sites Gasoline/Petrol 384,407 252,227
unnecessary vehicle idling through in unregulated regions, and excludes
Propane 2,040 6,797
our Idling policy and vehicle sites located in regulated regions
monitoring program. which require using a specified energy Other fuels - 2,595

• Optimizing schedules, logistics, and provider. With these changes to our Total fuels 2,211,832 1,609,878
rental car solutions. methodology, we continued to meet all
existing GHG Protocol guidelines and the Total energy 2,953,207 2,213,971
• Encouraging carpooling or ride share
CDP’s RE100 requirements for credible
opportunities for employees.
renewable energy usage claims. This
• Improved operational efficiency with aligned to our internal carbon offset
fleet and vessels to reduce CO2e policy which restricts the application of
emissions during transportation and RECs and REGOs to the local markets * Our non-renewable category includes energy from
non-emissive sources such as nuclear power. This
other field activities. Projects include in which the electricity was generated. subsection of non-renewable zero-emission energy is
idle reduction and ship to shore For North American markets, we define
illustrated in Figure 5-2.

power projects.

“local market” as electricity generated or purchased within All in. Carbon Out.
the same state where electricity is used. By applying this
more conservative definition, we effectively limited the total Our Carbon Out program aims to educate and empower
claimed RECs to local markets and reduced the overall every employee to have an active role in our scope 1 and 2
amount of renewable energy we claim. This approach reduction efforts. Sustainable practices and employee-driven
sets a new standard whereby our stakeholders can have solution identification drive carbon out of our daily operations.
high confidence in our commitment to reducing our direct
impact in communities in which we operate.

Zero-emission energy made up 157,902 MWh/Yr, or 26%, of

Our Carbon Out program empowers our business
our annual electricity usage in 2022. We are proud of our
segments to prioritize CO2e emissions reductions by
results, but acknowledge that we need to bring even more
identifying projects that meet our pathway criteria for
renewable and zero-emission energy into our mix. This year,
the road to net-zero operational CO2e emissions.
the percentage of our renewable electricity usage year
over year remained flat, but despite this result, initiatives
across our business contributed to our continued progress.
We reduced the REC usage in areas where we brought Since its launch in 2021, our Carbon Out program has
direct renewables online, and we also drove efficiencies engaged employees and leaders from across the business
to reduce electricity use at facilities that utilize renewable to enable them with the knowledge, training and resources
energy. In those examples, we worked to prioritize direct to systematically reduce our operational CO2e emissions.
renewable use over RECs, and focused on the overall Employees in all parts of Baker Hughes are empowered to
reduction of energy consumption at sites. We strive to identify CO2e emissions reduction solutions that are reviewed
bring energy forward, and while we have work to do, we are and approved to ensure timely, efficient, and cost-effective
focused on the journey along the path to net zero. implementation of CO2e emissions reduction solutions.
Direct carbon removal projects, such as CCUS, have been
considered for longer term abatement pathways.

impact through: increased our focus on sustainability

in our operations and contributed to 56
• A network of over 260 employees a mindset shift among our employees
43
that are Carbon Out champions to adopt more sustainable practices
across both business segments. in their day to day lives. We believe this
These employees represent multiple transformation is foundational to being
corporate disciplines, such as HSE, a sustainable business. 7
2
supply chain, sourcing, real estate,
field service engineers, and finance. 2021 2022
The goal of our champion network
Quantifying our carbon
Completed LCAs LCAs in progress
is to build and execute a pipeline of footprint through life cycle
projects that enable us to achieve analysis
CO2e emissions reduction throughout
Understanding, quantifying, and FastLCA is a tool aligned to the ISO
our operations.
reducing our direct and indirect CO2e 14067:2018 standard that features the
• Sustainability educational materials capability to calculate complete life
emissions across the value chain is
and opportunities to equip our cycle assessments for three applications:
integral to our progress on the path to
employees with the right knowledge
net zero. To ensure that we establish an
and skills sets to identify qualifying • specific products or services;
accurate representation of our CO2e
projects. Participants of our core
emissions footprint, we utilize life cycle • systems of products or services; and
leadership training programs -
assessments (LCAs) across our portfolio • comparative analysis between
ASPIRE, CULTIVATE, and IMPACT - were
of product offerings. LCAs quantify products.
engaged in the Carbon Out program
CO2e emissions that will occur during
to grow sustainability skill sets. In
the life of a product or service. This The comparative analysis feature
addition, over 400 employees across
quantification has directed our focus for helped to provide important insights
the Company from 27 countries
carbon-reduction opportunities across into efficiencies gained through new
participated in sustainability focused
our value chain by assessing CO2e product innovations. Our LCAs provide
training opportunities to expand their
emission impacts during: our customers with verified information
capabilities.
on the CO2e emissions footprint of
• Crowdsourced ideas and employee- • product design; our products. As part of our overall
driven initiatives across the Company • material selection; sustainability strategy, we are working to
helped to build a pipeline of new quantify the lifecycle CO2e emissions of
• component sourcing;
CO2e emissions reduction projects for all of our major product groups.
review, consideration and funding. • manufacturing processes;
• product installation and use; and Our product lines completed a total of
• HSE training of over 2,200 employees
43 life cycle assessments in 2022, with
on energy efficiency, energy • disposal of our products.
an additional 56 LCAs in progress. This
efficiency/factory assessments,
In 2022, we launched our proprietary is a significant improvement from our
and submission of over 300 ideas
life cycle assessment (LCAs) tool - 2021 totals when the LCA tool was in
to improve energy efficiency and
FastLCA — across all products lines to development; 7 LCAs were completed
reduce carbon emissions across our
drive the quantification and analysis of and 2 LCAs were in progress for 2021.
global facilities.
the estimated cradle-to-grave CO2e Each LCA undergoes a rigorous review
emissions impact of our products by a third party and is documented to
and services. show adherence to the use of FastLCA
tool and underlying ISO standard. This
early adoption within our business
demonstrated our commitment to CO2e
emission reductions for our operations
and our customers value chain CO2e
emissions.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 65
Enable our partners This survey focused on the upstream
portion of our value chain and engaged
Logistics improvements led to a 41%
and 31% decrease in our category 4 and
to thrive in a low our vendors in preliminary assessments 9 emissions, respectively. Decreased

carbon world of their CO2e emissions footprints. We

developed a live dashboard to monitor
reliance on air freight yielded significant
emissions reductions in the conveyance
To be a sustainable business, we must the survey response submissions of goods on both the upstream and
help our partners across our entire value and increase visibility to outstanding downstream ends of our value chain.
chain to be more sustainable. responses and information.
Last year, energy markets shifted and
This section highlights our work with We also organized webinars, supplier began to rebalance, more heavily
our customers and suppliers to conferences, and workshops to engage favoring natural gas to meet the ever-
improve their operational efficiency by our vendors on CO2e emissions and risk increasing demand for energy. This shift
developing and deploying less emissive management. Internally, we conducted has resulted in increased demand for
technologies, partnering with suppliers periodic “supply chain days” to educate equipment required to bring additional
to understand their current CO2e our supply chain employees in the energy online. In 2022, the sale of 16
emissions and reduction strategies, and specifics of how they can impact our turbines along with an increase in
reducing our scope 3 CO2e emissions, CO2e emission reductions through their electrical motor sales led to a 35%
which are scope 1 and 2 for our suppliers day-to-day work. jump in our category 11 emissions. This
and customers. increased activity further created the
Scope 3 CO2e emissions need for more forged materials and
Engaging our suppliers chemicals, impacting the emissions of
While our journey to net zero for scopes purchased goods and services (scope 3
We understand that our environmental 1 and 2 emissions is impactful, scope 3 category 1).
impact is a result of activities across our emissions account for several orders
entire value chain, and we work closely of magnitude more emissions. In 2022, The increase in our category 5 emissions
with our suppliers to identify our upstream we worked to set an internal target is largely attributed to higher volumes
CO2e emission reduction opportunities to reduce our scope 3 emissions and of land filled commercial and industrial
across our shared value chain. expanded the quantification of our value waste in 2022. In addition to the increased
chain emissions. Specific initiatives will volume, we shifted to a more accurate
We achieved an important milestone be actioned through our Carbon Out methodology for waste estimation.
in our efforts for supply chain CO2e program as we develop and advance our
emission reductions in 2022 by In 2022, the total revenue of our invested
scope 3 emissions reduction roadmap.
becoming a supply chain member of (category 15) entities grew by 8%
CDP. Our membership has enabled us to In 2022, our overall scope 3 emissions compared to 2021. As a key variable in
work with our suppliers to support their increased by 34% over the 2019 base our category 15 emissions estimation,
CO2e emission reduction activities by year, in conjunction with increased this revenue growth is the leading driver
disclosing CO2e emissions data, while activity and orders. However, at a for higher emissions as compared to
also gaining insights from our suppliers’ category level, emissions were lower our 2019 baseline. Our methodology will
CDP disclosures. for both business travel and employee improve as we incorporate operational
commuting. With hybrid work schedules emissions data from our investments.
A key priority for us in 2022 was to and expanded digital communications As an energy technology company
improve supplier engagement and options, our employees traveled less in focused on being a sustainable pioneer
share learnings. In addition, as part of 2022 than they did in 2019. We enhanced in all we do, our strategy is focused
our Principles strategy, we aim to assess our methodology and replaced regional on developing abatement solutions
our active suppliers on environmental averages with employee-provided data and embedding additional emissions
criteria every three years. As part of from our commuting survey. The survey savings into multiple categories
this effort, this year we launched our data provides greater accuracy which associated with our value chain.
first annual CDP CO2e emissions survey with we calculate our overall carbon
and collected 2021 disclosures from 152 CO2e emissions. Previous estimates
suppliers - a response rate of about 30%. resulted in an overstated level of
emissions attributed to commuting.

CATEGORY 2019 2022

1 Purchased goods and services 4,602,303 5,718,784

2 Capital goods 298,734 233,574

Fuel- and energy-related activities (not

3 184,214 136,224
included in scope 1 or scope 2)

Upstream transportation and

4 536,642 317,937
distribution

5 Waste generated in operations 20,612 79,284

6 Business travel 100,624 56,454

7 Employee commuting 151,941 101,404

9 Transportation and distribution 518,908 359,773

11 Use of sold products 181,576,472 244,794,528

15 Investments 233,111 616,242

Total scope 3 188,223,561 252,414,204

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 67
Climate change as Accordingly, climate change risk and perils: flood, wind, extreme heat and
opportunity assessments at Baker wildfires, using Jupiter ClimateScoreTM
a financial risk and Hughes were conducted to include predictive climate data analytics for
opportunity these time horizons. three Intergovernmental Panel on
Climate Change’s (IPCC) fifth revision
We recognize the challenges of climate In line with the TCFD recommendations, of projected socioeconomic global
change, but we also see the opportunities we divided our risk assessment into two changes scenarios (IPCC SSP5): RCP2.6,
for growth that stem from a resource- major categories: risks related to the RCP 4.5 and RCP 8.523.
constrained but innovative world. By physical impacts of climate change and
positioning ourselves to support the risks related to the transition to a lower For Baker Hughes’ operational footprint
transition to a low carbon economy, we carbon economy. in 2050, we estimate average annual
will enhance our business resiliency by maximum losses of approximately $49.1
providing new commercial opportunities Physical risk management million in damages, $165.9 million in
for us and our customers while managing business disruptions and approximately
physical risks to the Company. A comprehensive and robust physical
$10.4 million in productivity losses based
risk assessment program is important to
on a greater than 4°C IPCC climate
To position ourselves for long-term satisfy the requirements of governments
scenario (SSP5-RCP8.5), with total
success, our business, in accordance and regulatory bodies in a growing
maximum exposure of $225.4 million,
with the Task Force on Climate- number of countries and to enable
a 14% increase compared to $197.8
Related Financial Disclosures (TCFD) informed decisions on where and when
million in 2020. Higher risk exposure in
recommendations, undertook to allocate our capital and resources to
2050 is driven by the rising probability
quantitative climate change scenario prevent or mitigate impact of climate
of extreme weather events or their
analyses and opportunity hotspot change. Baker Hughes’ physical risk
increased severity for some locations
mapping. These analyses helped assessment determines financial
in the next 30 years. Detailed weather
provide more insight on climate issues exposure to damages, business
risk profiles and related financial risk
that could impact the business and disruptions and productivity losses for
exposure calculations are available
outlined the potential impact over all Baker Hughes facilities, as well as the
for every single facility, country,
three-time horizons: short-term (5 selected sites of our critical suppliers.
business segment, and product line.
years), medium-term (5-10 years), We model impact of severe weather
We incorporate the results of this
and long-term (beyond 10 years). events for the four relevant weather
assessment into our business continuity
and facility response planning,

23 RCP: Representative Concentration Pathway is a greenhouse gas concentration trajectory.

68 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
prioritizing our mission critical sites and sole source suppliers anticipated or faster than we can transition, or if we fail to
in locations with moderate to high risk. Furthermore, the execute our energy transition strategy as planned, demand
data is beneficial in mid- and long-term strategic business for our technologies and services or access to credit could be
planning, helping to identify and mitigate risk exposures adversely affected.
to Baker Hughes’ infrastructure and logistics. Data is also
harmonized with our environmental impact investment Transitioning to a low-carbon economy will likely require
decisions to ensure that we are managing cost and risks extensive policy, legal, technology, and market changes.
using all available information. There is increased focus by governments and our customers,
investors and other stakeholders on climate change,
Transition risks and opportunities sustainability, and energy transition matters. Negative
attitudes or perceptions of our industry or fossil fuel
The transition risk assessment derives estimated financial
products and their relationship to the environment have
impact on our business from modelled portfolio responses
led governments, non-governmental organizations, and
to four energy market scenarios as published by the
companies to implement initiatives to conserve energy and
International Energy Agency (IEA): the 1.5°C Net Zero Emissions
promote the use of alternative energy sources, which may
Scenario, the <2°C Sustainable Development Scenario,
reduce the demand for and production of oil and gas in
the Announced Pledges Scenario, and the Stated Policies
areas of the world where our customers operate, and thus
Scenario. The four IEA scenarios encompass a broad range
reduce future demand for our products and services. In
of energy market scenarios that, when applied to our
addition, initiatives by investors and financial institutions to
existing portfolio, might translate to a wide range of revenue
limit funding to companies in fossil fuel-related industries
impacts across our different businesses. In some cases,
may adversely affect our liquidity or access to capital.
these scenarios yield an estimated revenue from our current
portfolio. In the long-term scenario, we predict that our existing
portfolio will generate growth under the Stated Policies
While we recognize the potential for transition risk, Baker
Scenario, accompanied by increasing revenue contributions
Hughes is playing a key role in enabling an orderly low carbon
from our energy transition portfolio. We also estimate that
energy transition. Our future success may depend upon our
any potential material declines in revenue from our current
ability to effectively execute on our energy transition strategy.
portfolio under the Announced Pledges Scenario, the
Our strategy depends on our ability to develop additional
Sustainable Development Scenario, or the Net-Zero Scenario
innovative technologies and work with our customers and
can be mitigated by revenue growth from our energy
partners to advance new energy solutions such as CCUS,
transition portfolio.
hydrogen energy, geothermal, and other integrated solutions.
If the energy transition landscape changes faster than

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 69
Minimize the resources we use
We are committed to minimizing the environmental The following procedures are included in our management
impact across our facilities, through the services we system and are applicable to all of our sites and
provide at our customer sites, and in the communities operations globally:
where we operate. We take a holistic, risk-based approach
to make progress towards our commitments. Our 1. Agency visits
robust environmental management system provides 2. Air emissions management
a framework for innovative technologies along with
3. Chemical management
proactive learning and improvements. We strive to
minimize our water, waste, and ecological footprints. 4. Due diligence for property transactions

5. Due diligence for business transactions

Below are the key objectives and outcomes we are
measuring against to advance our goal of environmental 6. Environmental reporting
stewardship. 7. Emergency response

8. Energy management and efficiency

Our environmental management
9. Land quality protection and secondary containment
system helps us minimize resource use
10. Spill prevention and response
Our environmental management system (EMS) is built
11. Waste management and minimization
on stringent environmental standards that we set
for ourselves and meet or exceed global regulatory 12. Waste vendor audits
requirements. Our EMS is aligned to ISO 14001:2015 and 13. Water quality protection
provides a framework for continual improvement, risk
assessments, global procedures, training, reporting, and We utilized a tiered approach that enabled customization
assurance and control measures. It has helped us work at the regional, product line, or site level based on local
towards achieving our emissions reduction goals while requirements or risk profiles.
reducing our operational environmental footprint. This
framework also enabled us to track our production output,
using a combination of internal validation and third-party
assessments.

177,737
Hazardous 15

Non-Hazardous
65,185
E-waste

Metals

57,666
112,537
27,483
173
22,249
7,761
Recycled Disposed

Table 5-5: Waste volume (metric tons)24

RECYCLED DISPOSED GENERATED

Hazardous 7,761 112,537 120,298

Non-hazardous 22,249 65,185 87,434

E-waste 173 15 188

Managing waste Metals 27,483 - 27,483

In 2022, we assessed our methodology for how Total 57,666 177,737 235,403
we calculate our waste production across
our business. The primary change included Table 5-6: Waste diverted from disposal by recovery
modification to our estimation process; we now operation (metric tons)25
include an additional level of precision by including HAZARDOUS
NON-
HAZARDOUS E-WASTE METALS
facility square footage, rather than only facility WASTE
WASTE
type, to increase accuracy of estimated waste Offsite preparation
629 801 6 -
generated per site. Additional changes to the for reuse
methodology included: Offsite reclamation 3 221 - -

Offsite recycling - - 167 -

• Improvements made to fill gaps and data
Offsite material
coverage. - - - 27,483
recovery operations
• Reclassified reconditioned drums as recycled Other offsite
7,129 21,227 - -
recovery options
that were previously classified as waste.
Total waste recycled 57,666
• Removed data from outside the active period
for estimations.
Table 5-7: Waste prevented from disposal (metric tons)
Our sites continued to follow our formal procedure
TOTAL WASTE PREVENTED
for waste management and minimization, which
Former waste to product conversion 1,266
requires that all waste types be identified and
tracked. We provide guidance to promote efforts
to minimize waste volumes and increase the Table 5-8: Waste directed to disposal by disposal operation
recycling and reuse of materials at each facility. (metric tons)25
NON-
HAZARDOUS E-
HAZARDOUS
Because of these methodology changes we are WASTE
WASTE
WASTE

unable to make a YOY comparison; however, Offsite incineration with energy

978 1,940 -
as a part of our strategic efforts to focus on our recovery
Offsite incineration without
environmental impact, we set an internal target 2,062 1,875 -
energy recovery
and commit to reducing waste to landfill by 2030.
Offsite landfilling 4,210 24,986 -
Other offsite disposal
We prioritize the responsible use of natural 105,287 36,384 -
operations
resources through quality control and assurance
Disposal - - 15
processes, thus minimizing scrap and waste
Total waste disposed 177,737
materials.
24 Methodology for 2022 changed. Historic data not comparable due to methodology change.
25 There were neither onsite disposal operations nor onsite recovery operations in 2022.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 71
There were various global efforts that our facility carried out an e-waste While we have engaged in asset
contributed to our waste reduction recycling drive, where 1,850 kg of optimization activities since 2015, we
efforts in 2022: e-waste were sent to be recycled. increased our focus on internal asset
• Our Malaysia facility hosted a drive to reuse and remarketing as strategies
• The OFSE Aberdeen, Montrose, to reduce waste in 2022. The global
recycle textiles, preventing 334 kg of
and Nailsea sites in the United redeployment and remarketing
textiles from being sent to disposal.
Kingdom continue to diligently program utilizes multiple tools to
work on segregating waste into the The organizational boundary for our waste manage redeployment of assets
appropriate streams, which has and recycling metric includes facilities within the Company and remarketing
helped them recycle 200 wood under our operational control that are of used assets, including an internal
pallets per year. active at any time during the calendar redeployment catalog. Before an asset
• Our Florence, Massa, and year and does not exclude divestitures. is considered for resale, it is inspected
Avenza sites in Italy make waste This allows our local teams to more easily to be redeployed internally. Part of
management a priority and identify reduction opportunities and track the capital asset approval process is
implemented several new initiatives progress in the future. checking the internal redeployment
last year: catalog to make sure there is not
Waste generation, management and anything available before purchasing
◊ Implementation of higher disposal are subject to stringent local, new capital assets.
concentrated cleaning products national and international regulations
that are 100% biodegradable. This across our operations. Such regulations Not only are these programs cost-
resulted in a reduction of single- include compliance requirements effective, but they also contribute to
use plastic containers. for waste segregation, storage, reducing waste and promote circularity.

◊ All paper tissues on site are made transportation and disposal.

Our equipment is designed for durability,
from recycled paper.
Promoting circular economy and new technology can be injected
◊ Wood waste generated from during the life of our machines to boost
the three sites was repurposed We promote circular economy asset performance. Our Industrial and
rather than disposed, promoting principles of minimizing resource use Energy Technology business segment is
circularity. through reuse, repair, and refurbish. We continuously working on many projects
are committed to reducing our volume to refurbish customer equipment to
• To reduce single-use plastic waste, of waste by using resources wisely and enhance efficiency and plant output
sites in India and the Ivory Coast increasing the recycling of materials while minimizing waste. Electrification,
implemented a program to assign within our business. Circularity was efficiency improvements, gas recovery
refillable water bottles to every site identified as a critical component of our from vent or flare, and fueling with
employee. It served as a pilot and waste reduction strategy. hydrogen gas turbines are some
the same initiative is now being examples of upgrading projects that
implemented in Congo and Gabon. Our teams continue to engineer
lead to emissions reductions.
products with circularity in mind with a
• Our blend plant in Rayne, Louisiana
focus on resource optimization, reduced
successfully implemented a reuse
resource consumption, and recovery
program to convert a waste stream
of end of life products and waste by
to product, resulting in a 366 MT
recycling or giving it a second life as a
reduction in waste volume.
new product.
• In line with the UAE’s no landfill policy,

72 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Water stewardship
We are committed to conserving and protecting freshwater The increase in water withdrawal and decrease in water
resources throughout the water cycle — from withdrawal, discharge resulted in a 49% increase in water consumption
to use and eventual reuse or discharge. To advance this compared to 2021. The sites that mainly contributed to this
commitment, in 2022, we added a water reduction goal to our increase had an increase in operational activity this year and
strategy to reduce usage at water-stressed sites by 2030. an increase in testing processes that don’t return water into
circulation.
Each year we engage internal resources to improve the
robustness of our data collection process. In 2022, we We assess areas of water stress using the World Resources
improved data accuracy by adding 19 sites that are reporting Institute’s Aqueduct tool. Since 2020, we have used Aqueduct
actual water usage rather than estimating. We also improved for an annual review of our water use across the globe. In
our estimation method by including facility square footage in 2022, our water consumption in water-stressed areas stayed
addition to facility type. consistent with our 2021 consumption at 13 ML. Our water
withdrawn from these areas increased 65% from 249 ML in
This year our total water withdrawal increased by 2% from 2021 to 410 ML in 2022. However, water discharged to these
3,143 Megaliters (ML) in 2021 to 3,214 ML in 2022. Our total water areas increased by 68% from 236 ML in 2021 to 397 in 2022.
discharge was down 4% from 2,769 ML to 2,655 ML. These This year, an additional six sites were reclassified to a
changes were due to sites installing water meters to report water risk area. The site reclassifications and reporting
usage rather than estimating and ensuring data is being improvements made in 2022 both contributed to the observed
categorized and reported correctly. increase in water withdrawal and discharge in these areas.

Table 5-9: Water use (ML)

2020 2021 2022

WITHDRAWN CONSUMED DISCHARGED WITHDRAWN CONSUMED DISCHARGED WITHDRAWN CONSUMED DISCHARGED

Surface 249 - 27 4 - 51 0.1 - 55

Groundwater 485 - 90 487 - 105 618 - 45

Municipal 4,063 - 4,128 2,652 - 2,606 2,596 - 2,536

Seawater - - 0.2 - - 7 - - 19

Total 4,797 552 4,245 3,143 374 2,769 3,214 559 2,655

Table 5-10: Water use in water-stressed areas (ML)

2020 2021 2022

WITHDRAWN CONSUMED DISCHARGED WITHDRAWN CONSUMED DISCHARGED WITHDRAWN CONSUMED DISCHARGED

Surface 1 - 16 - - 7 0.1 - 27

Groundwater 81 - 1 54 - 15 152 - 15

Municipal 408 - 449 195 - 212 258 - 349

Seawater - - 0.2 - - 2 - - 6

Total 490 24 466 249 13 236 410 13 397

Italy: Our Florence and Massa sites utilize an automatic

supervision system for all drinking water pipes that
reduces leakages. In 2022, we increased field instruments
to measure and monitor effective water flow in all drinking
pipes for these sites, which allows for better, quicker,
and more effective water management. There was an
8% reduction of water consumption compared to the
previous year at our Learning Center in Italy due to the
installation of electric valves with timers to close/interrupt
flow for drinking water pipes during the weekends.

The teams identified and fixed water leakages from

old pipes from the Arno River — one of the key water
streams of the region - to our Nuovo Pignone plant. The
guaranteed flow rate was approximately 25 m3 per hour of
water, and the water leakage was estimated to be over 8
m3 per hour. Diagnostics, excavations, camera inspections,
and other techniques of inflating noble gas in the pipes
were run to detect and successfully fix the leakage.

Risk identification and mitigation

Best Environmental Project of the Year — Runner up
at EGYPS Global Sustainability in Energy Awards 2023 Water risks were identified and assessed utilizing the World
Baker Hughes India Watershed project Resources Institute’s Aqueduct tool, which produced a
digital risk map that provided a consolidated view of
Our employees in India combated desertification with Company facilities and operating environments. As of
an ambitious soil and water conservation project to help year-end 2022, 81 sites were in an area of high water risk
farmers and the local community through an integrated and 65 were located in an area of extremely high-water
watershed management project (see above). In 2022, risk based on their physical, regulatory, and reputational
280 hectare of watershed treatments were completed, risk profile.
resulting in 1,040 million liters of water storage and 6,450
tons of CO2e soil carbon sequestration by end of 2022. The global environment team oversees water quality
standards and provides site teams with effective tools
The project not only resulted in soil and water to manage risks, promote effective water management,
conservation in rural farmlands by educating farmers to and elevate our conservation practices. Our global water
adopt sustainable farming and agribusiness practices quality protection procedure sets the minimum standards
that protect enhanced soil carbon and water content, and requirements for all sites and operations globally,
but it also enabled and empowered local community regardless of risk profile. Sites with high or extremely
members (especially women) to develop sustainable high water risk are required to complete an additional
streams of income. assessment (see Table 5-11) to evaluate their activities
where water is used, and identify options for conservation,
The initiative won a runner up award for Best
improved efficiency and risk mitigation.
Environmental Project of the year at EGYPS 2023 Global
Sustainability in Energy Awards. Water conservation and management assessments were
completed at 94 locations in 2022.

Focuses on activities that warrant evaluation of water use,

including:

• Equipment or chemical manufacturing

Screening • Vehicle or tool washing

• Hydrotesting and laboratory operations
• Cleaning activities including line/vessel rinse
• Outdoor water use/irrigation

Evaluates actions related to the following:

• Installation and monitoring of water meters

• Leak detection and repair programs
Monitoring and • Implementation of control measures and water shutoff
education
• Use of “dry” cleaning methods where feasible
• Optimization of water pressure to equipment needs
• Increasing awareness of water conservation and
management

Identifies equipment or conservation measures associated with:

• Fixtures, equipment, and valves inspection and maintenance

• Automatic sensors and metering of faucets
Fixtures and
equipment • Wash bay efficiency evaluations including pre-rinse
• Options for equipment water supply including flow rate
• Evaluation of cooling towers, boilers, and chilled water
systems

Provides options for improved water management including:

• Using drip system or weather- based irrigation system

Outdoor water • Maintaining irrigation system components on a routine basis
use
• Exploring opportunities to plant native/drought-tolerant
species
• Evaluating reuse of “grey water” for irrigation

Evaluates laboratory activities and provides process

improvements to minimize water usage, including:

Laboratory • Assessing purified water usage and reduction opportunities

equipment • Optimizing vacuum pumps and steam sterilizer usage
• Routine inspection of recirculating systems as well as fume
hood filtration systems to ensure proper functionality

Provides a forum to collect input, questions, or topics not

included in the assessment.
Sharing ideas
• Includes a formal opportunity for site personnel to share best
practices

• Renew Community of Interest and the

Women’s Network ERG hosted a native tree
planting activity where they planted drought-
tolerant, native Ghaf trees at the International
Center for Biosaline Agriculture.
• Our team in Singapore organized a beach
cleanup on Coney Island (Pulau Serangoon),
removing 70 bags of marine trash from the
park.
• In Brunei, Baker Hughes and the Brunei Forestry
Department planted 260 trees in the Sungai
Liang Forest Reserve.
Employee volunteer tree planting in Texas

Protecting biodiversity Our conservation efforts focus on Our annual site biodiversity assessment
internal standards for establishing sites is reviewed each year through careful
and natural capital in new areas, sound environmental controls at each of our locations.
Biodiversity is our strongest natural practices throughout our existing Regardless of prior years' results, we
defense against climate change, and operations, volunteer efforts by our look at every site each year as if it
we strive to protect and conserve employees, and foundation grants to were being assessed for the first time.
biodiversity and natural ecosystems. support environmental efforts. In 2022, this attention to detail during
Deforestation can adversely impact our due diligence processes revealed
Through the Baker Hughes Foundation, a site that had not been documented
biodiversity, increase greenhouse gas
we develop partnerships with previously had potential biodiversity risks
emissions, and contribute to climate
conservation organizations and fund identified, which had not been identified
change. We believe that conserving and
environmental projects that protect previously. For industrial sites, the review
protecting ecosystems is necessary to
biodiversity and minimize the effects of of environmental risks includes sensitive
meet the Paris Agreement goals, the
climate change. We strive to support habitats, such as wetlands, and the
United Nations Sustainable Development
environmental projects, such as the potential presence of protected species.
Goals, and our Company's commitment
preservation of sensitive forest areas, We conduct formal environmental
to environmental sustainability.
through enhanced management impact assessments as required by
We are committed to minimizing techniques, including reduced impact local regulations. This is particularly
our adverse impacts on biodiversity, logging practices. important for new business activities
protected areas, and areas of significant around the world, due to the continuing
In 2021, we added biodiversity criteria
biological value at or near all our changes to our real estate portfolio.
to our due diligence process for any
operational sites. We endeavor to
new build site that is being considered We recognize the UNESCO “No-Go”
minimize our environmental footprint,
or any newly acquired site. We wanted commitment for Natural World Heritage
conserve natural habitats, and protect
to ensure that any addition to our sites as an important program for the
and restore ecosystems through
facilities were thoughtfully assessed protection of unique and valuable
nature-based projects. As part of our
to understand the comprehensive locations.
commitment to biodiversity, our strategy
potential impacts to the environment
aims to assess 100% of sites on biodiversity
and the effects on biodiversity in We are concerned about the potential
risk by 2030 and implement risk
surrounding areas and communities. effects that industrial operations can
management programs for high risk sites.

We identify, assess, mitigate, and control potential

sources of air emissions from processes and
operations, including both stationary and mobile
sources. Where needed, we install emission-
control devices, such as scrubbers, dust collection
have on protected and ecologically systems, and paint booths, to protect air quality
sensitive sites. In 2022, we continued and meet regulatory requirements.
our methods of engaging internal
Across our business, employees have worked to
stakeholders to complete our in-depth
minimize the use of chemicals that may pose
review of our sites. We identified 17 sites
a threat to the environment. For example, our
with operations that are in or adjacent
environmental procedures prohibit the use of
to a protected area or an area of high
chlorinated hydrocarbon-based solvents or ozone
biodiversity value outside a protected
depleting chemicals. We undertake an annual
area. This includes locations in Mexico,
comprehensive survey across our operations
Angola, Australia, France, Germany, the
to help us avoid the use of ozone depleting
United States, and the United Kingdom.
substances. Our survey results for 2022 did not
We publicly disclose the presence of identify any use of these materials, excluding
International Union for Conservation refrigerants used in air conditioning systems.
of Nature (IUCN) Red List species on or
adjacent to our Company locations.
Based on our review, we are reporting
392 species on the IUCN Red List which
have habitats in areas that may be
potentially affected by our operations.
This is a significant increase from our
2021 reported species of 201. The majority
(64%) of the species reported this year
are classified as Least Concern (251).
The increase in the number of species
reported is due to the addition of sites in
2022 and the increase in species count
for areas in Alaska.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 77
Reduce spills and report
them transparently Our core control measures to address potential spill
risks include:
We are committed to reducing spill volumes to
minimize potential harm to the communities we
• Ensuring container condition, compatibility, and proper
operate in and the environment. Supported by our
handling procedures
internal spill prevention and response policy, we are
striving to reach our strategic outcome to reduce • Maintaining equipment, hoses, valves, and vehicles to
the volume of spills at our sites. prevent leaks
• Securing containers adequately for safe transport
This year, spill reduction was identified as a
• Testing control equipment such as high-level alarms
focal area for improvement in our operations
after completing internal assessments. Our spills • Conducting tank integrity testing in accordance with
strategy was developed as a framework to drive regulatory requirements
progress towards spill reduction and accountability. • Completing routine site inspections
• Following proper procedures for liquid transfer activities
Preventing spills
• Affirming adequate secondary containment for liquid
We strongly believe in being proactive to avoid storage areas
spills through periodic inspection and routine • Conducting spill drills to increase effectiveness of
maintenance. We have robust internal standards response capability
and processes to identify any risks of spills and
have established control measures, such as
including secondary containment and other
engineering controls.
When spills do occur, we ensure effective response procedures are
Sites are expected to conduct and document followed for immediate mitigation of environmental affects and spills
periodic inspections to identify spill risk factors are promptly reported, as required. Investigating spill incidents is
as outlined in the updated spill prevention and integral to our environmental management system, so that we can
response procedure. Timely corrective actions or implement corrective actions to prevent recurrence.
improvements must be implemented and tracked
in our system of record. We inspected

98%
of our tanks as a preventative
measure to identify any
potential risks of spills.

Reporting spills Managing chemicals

To foster and drive a preventative We know that all spills regardless of Four facilities in our OFSE segment
approach to spills, all of our global sites volume can have an impact to our were recognized in 2022 by the
are required to report every spill and environment. That is why we have Society of Chemical Manufacturers
categorize accurately, regardless of the created a dedicated strategic outcome & Affiliates (SOCMA) for excellence
volume. to reduce spill volume across our sites. in environmental, health and safety
This will require us to reflect inward on initiatives. The Baker Hughes Rayne
In 2022, we continued to focus on our internal procedures, processes, and Blend Plant in Rayne, Louisiana
increasing the rigor of our spills culture as we work to minimize points of was honored with two 2022 Silver
reporting which resulted in an increase failure that could lead to spills. We will Performance Improvement Awards in
in the number of spills reported continue to diligently focus on process the categories of Product Stewardship
compared to 2021. The quantity of control in operations, conduct effective and Resource Management and Waste
spills reported increased; however, our field training, investigate root causes, Minimization. Also, the Bayport facility
significant spill volume — as defined by execute corrective action plans, and in Pasadena, Texas, and the chemical
GRI standard - decreased by 51%. improve preventative maintenance on facilities in Bakersfield, California, and
our equipment and chemical storage. Kilgore, Texas, were each given a 2022
We recognize that although our
Silver Award in Resource Management
significant spills volume decreased,
and Waste Minimization.
there is still opportunity to improve in
this area. In 2022, we saw increased Table 5-12: Spill volume (barrels) Baker Hughes is a longtime participant
spill volume in the categories of oil, in ChemStewards®, a rigorous
fuel, and chemical spills. The increase 2019 2020 2021 2022 program to foster and improve upon
in these categories was the result of a Significant a culture of facility safety, product
small number of high volume spills. For 1,598 738 1,693 827
spills stewardship, environmental safeguards,
example, a singular spill caused by a risk reduction, and stakeholder
Oil spills 214 28 6 37
process failure contributed 65% of our engagement. Now in its 17th year, the
total oil spill volume. All significant spill Fuel spills 3 <1 2 3 annual Performance Improvement
occurrences go through a stringent Awards recognize companies
root cause analysis and corrective Waste spills <1 <1 1 1 demonstrating best practices in these
action procedure that identifies points areas.
Chemical
of failure in processes which led to 350 155 130 378
spills
the spill. Detailed investigations are
required immediately following a spill
that document contributing factors and
ways to prevent future spills.

82 Our Principles strategy

84 Champion compliance and integrity

88 Ensure sustainable governance

91 Strive for sustainable, diverse, and inclusive supply chains

92 Uphold the highest health, safety, and environment standards

Jose Ramirez | Lead Engineer, Mechanical Component, OFSE

Principles
performance snapshot

SUSTAINABILITY PRIORITY KEY PERFORMANCE INDICATORS 2020 2021 2022

# of employees who completed the annual Code of Conduct training,

53,370 50,161 53,846
including training on ethics, compliance, and anti-corruption

% of employees who completed the annual Code

98 92 97
of Conduct training

% of governance body members who have received training on anti-corruption*26 - 90 99

Ethics and governance
% of operations assessed for risks related to corruption* - 100 100

% of enterprise security personnel, including full-time security personnel and

- 100 100
embedded contractors, trained in human rights policies or procedures*

# of identified leaks, thefts, or losses of customer data - - -

# of substantiated complaints received concerning breaches of customer privacy - - -
# of certified Supplier Social Responsibility Program (SSRP) auditors27 152 93 84
# of SSRP audits 434 545 408
# of SSRP audit red flag findings 965 1,696 1,343
% of audits that were re-audits 74 82 81
Supply chain
% of audit red flag findings closed within 90 days28 83 95 95
# of suppliers rejected due to SSRP policy 21 52 23
% of local spend 82 77 81
Local spend (billion USD) $7B $7.7B $13B
# of HSE leadership engagements 68,886 66,716 64,550
# of HSE observations 1,038,071 1,051,723 1,071,845
Average hours HSE trainings - employees** - - 5.3
Average hours HSE trainings - contractors** - - 0.64
Perfect HSE Days 200 204 217
# of near misses 1,299 1,075 1,017
Total recordable incident rate 0.23 0.28 0.22
Health and safety Days away from work rate 29
0.11 0.13 0.11
# of days away from work cases 104 97 86
# of employee work-related fatalities - - 1
# of contractor work-related fatalities - - -
# of total recordable illness 30
69 37 5
# of musculoskeletal disorders** - - 2
# of diseases caused by physical agents** - - 3
# of vehicle incidents** - - 213

*New 2021 metric, **New 2022 metric

26 Governance body members include 116 Senior Executive Band and above employees, which include the most senior-level managers and individual contributors, such as Vice
Presidents and above.
27 The 2022 value is not comparable to historic data due to change in definition of “auditor.”
28 A red-flag finding is a warning sign. Once found, new suppliers should not be issued an order unless further review indicates that there is no issue or until significant progress has
been made on the corrective action.
29 Total recordable incident rate (TRIR) is calculated using OSHA standard.
30 Work-related ill health metrics are reported in accordance with the GRI standards, which are based on the OSHA guidelines. Occupational cancer, skin injuries, respiratory disease,
disease caused by chemical agents, biological agents and infectious or parasitic diseases, mental and behavioral diseases, and other diseases accounted for 0% of illness in
2022.

OUR GOALS HOW WE WILL DELIVER SUCCESS HOW WE WILL MEASURE SUCCESS

• 100% of targeted personnel trained annually on

1. Drive a culture of human rights policies and procedures
1. Drive a culture of
transparency and • Champion compliance
transparency andthe and ethics • Specialized human rights training completed for >80%
integrity - doing
integrity - doing the Supplier Social Responsibility Program (SSRP) auditors
right thing beyond • Ensure sustainable
right thing beyond and sourcing by 2025
compliance governance
compliance • Process to record, track and monitor human rights
Principles

grievances in place Q1 2024

• Total Recordable Incident Rate <0.3
• All Perfect HSE Days

2. Take energy forward • Active suppliers assessed for environmental criteria

• Uphold the highest health,
2. Take energy forward every three years
responsibly with safety, and environment
responsibly with standards
integrity and • 90% of SSRP audit red-flag findings closed within 90
integrity and
transparency • Strive for principled, diverse, days
transparency
and inclusive supply chains • 90% completion rate for SSRP planned audits
• 80% of suppliers agreeing to BH Integrity Guide by 2030

0.22
Total recordable
95%
SSRP red flag findings
Building on the commitments outlined
in our 2021 Corporate Responsibility
report, our Principles mission has two
key goals and four objectives.
incident rate closed within 90 days
Our governance initiatives, programs,
and policies drive a culture of
transparency and integrity, ensuring
that we do the right thing, beyond
compliance. We aim to take energy
forward responsibly - with integrity and

100% 97%
transparency.

Enterprise security Employees who

personnel trained completed the annual
on human rights Code of Conduct training

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 83
Champion with monthly awareness campaigns on
topics including human rights, modern
compliance slavery, and anti-discrimination, and
How to report a concern
and integrity are encouraged to integrate integrity
moments, quick reminders of high
+1 800 288 8475 (U.S. Toll Free)
importance compliance topics, policies,
Ethics and compliance +1 713 626 0521 (Collect)
and procedures into internal and
Our ethics and compliance program external meetings.
is designed to prevent, detect, and BakerHughes.Ombuds@
respond to any potential violations of Open reporting and consultation bakerhughes.com
law, our Code of Conduct, and other We believe that a culture in which 17021 Aldine Westfield Road,
Company policies and procedures. This all employees maintain the highest Houston, Texas, 77073, USA
company-wide commitment to integrity levels of integrity, conduct business
is fundamental to running a sound, in a professional manner, treat one
successful, and sustainable business. another with dignity and respect, and
support open communication without
Our Code of Conduct, approved by our Anti-bribery and anti-corruption
repercussions creates a better and
Board of Directors, governs our behavior.
more productive work environment. Our Code of Conduct includes a
Our compliance team, led by our Chief
Compliance Officer, is tasked with summary of our global anti-bribery and
Employees and other stakeholders
the operationalization of the Code of corruption policy, which prohibits bribery
have several ways to raise compliance
Conduct. and facilitating payments in all business
concerns, and they are encouraged
dealings, including with governments,
to report any ethics or compliance
Each year, employees, including senior employees of state-owned companies,
matters. Our Fair Employment Practice
leaders, are required to complete online and private sector entities. As part of
policy prohibits retaliation against an
training on our Code of Conduct, which our compliance program, to prevent
employee for raising a concern about
includes training segments on policies bribery, we have internal controls, such
a potential violation of policy or law.
and procedures for human rights, anti- as online and live trainings in high-
Reporting mechanisms include raising
corruption, data privacy, cybersecurity, risk countries, and policies addressing
a concern with their direct manager, a
conflict of interest, trade compliance, compliance-sensitive activities, such as
global network of Ombuds, a dedicated
and other compliance topics. In 2022, travel, expenses, charitable donations,
website where employees can report
99% of governance body members31 and transactions with third parties.
concerns and anonymize if desired, and
and 97% of the entire employee
a worldwide 24-hour helpline operated For our Enterprise Risk Management
population completed the annual
by a third party and available in 150 (ERM) process, each year, leaders from
Code of Conduct training. As part of
languages. All concerns raised are each business segment and functions
our objective to champion compliance
investigated and treated confidentially. hold workshops to discuss and assess
and ethics, each year we aim to reach
100% of our employee population, compliance risks and deploy risk
We take all allegations regarding our
including governance body members, mitigation plans. In 2022, all four product
Code of Conduct, the law, and various
completing the code of conduct training. companies were assessed for risks
policies seriously, and investigate
While we did not reach that value in related to compliance, including risks
allegations with a rigorous, and
2022, we achieved a 5% year-over- from corruption. Relevant risks identified
disciplined investigations process that
year improvement. In addition to the as part of the risk assessment process
drives consistency in process and in
annual training, employees engage include bribery and corruption risks
discipline.
within our value chain.

31 Governance body members include 116 Senior Executive Band and above employees, which include the most senior-level managers and individual contributors, such as Vice
Presidents and above.

84 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Human rights
Human rights are fundamental rights
and freedoms to which every individual
is equally and inalienably entitled. We
recognize human rights as a universal
obligation to uphold, and a core
principle to our business practices. As
a signatory of the UN Global Compact,
we are committed to advancing the Ten
Principles and the SDGs.

Our Human Rights Policy applies to all

employees, business partners, vendors,
suppliers, and contractors. This policy is
informed by the UN Guiding Principles
on Business and Human Rights and our
Code of Conduct. It is supported by a
framework of policies and guidelines,
setting forth the expectations that
we do what is right and safe and
consider the well-being of our people,
suppliers, customers, communities, and
environment.

We integrate onboarding, training,

management, due diligence, and
reporting systems to identify, prevent,
mitigate, and take prompt corrective
action to address identified compliance
issues. Due diligence tools we rely on
include, but are not limited to, legal
and regulatory compliance reviews
and supplier audits. When adverse
human rights impacts or violations
are identified relating to our business
activities or from linkages to our
operations, we are committed to
taking timely and transparent action
to remediate in a fair and equitable
manner. Grievance mechanisms are
available for all individuals across our
value chain. Confidentiality is respected,
and individuals may choose to remain
anonymous.

Filippo Camporeale | Shop operator, Industrial & Energy Technology

Our human rights pledge sexual orientation, gender identity or considerations into operational plans. In
expression, age, disability, veteran instances where local communities may
We commit to responsible business
status, or other characteristics protected be adversely impacted by our activities,
practices, high standards of integrity
by law (see our Fair Employment our businesses are supported by
and ethical conduct, compliance with
Practices Statement available on every functional teams and processes which
all applicable laws, and respect for
vacancy announcement). work to manage and mitigate potential
the rights and dignity of all people. We
impacts on public well-being.
respect human rights as expressed in We seek to provide a work environment
the International Bill of Human Rights free from all unlawful forms of
and the fundamental conventions of harassment and bullying, including
Data privacy and
the International Labour Organization sexual harassment, and furthering cybersecurity
Declaration on Fundamental Principles workplace health and safety.
and Rights at Work. If there is a conflict We take cybersecurity and data privacy
between internationally recognized seriously. We respect rights to data
We respect the freedom of association
human rights and national laws, we protection and privacy. In 2022, we had
and right to collective bargaining.
will follow processes that seek ways to zero identified leaks, thefts, or losses of
honor the principles of international We respect individual privacy rights customer data and zero substantiated
human rights. Human rights are so and commit to processing, collecting, complaints received concerning
essential to our work that they are handling, and protecting personal breaches of customer privacy.
incorporated into our sustainability information responsibly, in compliance
We maintain cybersecurity and digital
strategy, underpinning our commitment with applicable privacy and information
trust compliance programs aimed at
to integrity and ethical conduct. We security laws, our Data Privacy Policy,
protecting our systems and information,
prohibit slavery, servitude, forced and and related policies, guidelines, and
complying with relevant laws and
compulsory labor, human trafficking, notices.
regulations, and maintaining the highest
and child labor — collectively “modern
We respect the human rights of local level of trust. Our programs are focused
slavery” (see our Modern Slavery Act
communities, including vulnerable, on building digital trust through sound
Statement for more information). We
marginalized, and indigenous oversight of cybersecurity and data
prohibit discrimination or harassment
groups. Our businesses engage privacy protections and the responsible
against any employee or applicant
with communities, customers, use of data and technology.
based on race, color, religion, national or
ethnic origin, sex (including pregnancy), local governments, and other key
stakeholders to integrate local

cybersecurity
status. with applicable law, our policies,
applicable contractual obligations, and
Our executive leadership is actively
and data privacy
standards for privacy, cybersecurity, and
engaged in the oversight of our information governance. The mandate
cybersecurity and digital trust
seriously. We
and goal of our Digital Trust Compliance
compliance programs. The executive Program is to mitigate risks with a
leadership-level committees provide
respect rights to
trust-centered purpose and to drive
oversight and strategic direction accountability for compliance business
for cybersecurity and digital trust
data protection
obligations and responsible use of data
compliance programs and our risk and technology through our Company’s
mitigation efforts.
and privacy.
values, our Code of Conduct, and
our integrity programs. The program
Incident reporting and management includes policies and procedures,
Employees and stakeholders can enterprise risk assessment, privacy
report cybersecurity threats, data impact assessments, incident response
We protect our digital systems and data
privacy incidents, or other concerns and management, regular audits,
through a comprehensive cybersecurity
through external and internal reporting mandatory cybersecurity and privacy
management program, and we operate
channels. We have established policies training, and ongoing awareness
an integrated Cyber Fusion Center to
and procedures for responding to campaigns for our employees to
coordinate resources, reduce incident
cybersecurity and privacy incidents, understand our policies and compliance
response time, and shift toward a
including protocols for escalating to requirements relevant to their functions.
proactive cyber-defense model.
executive leadership, engaging external
Oversight responsibilities for our stakeholders, and reporting incidents. Product security
cybersecurity and digital trust Our product security approach spans
compliance programs and risks lie Cybersecurity three critical cornerstones: people,
with the Audit Committee of our process, and technology. It is based on
We leverage the United States National
Board of Directors. To emphasize the international standards, regulations, and
Institute of Standards and Technology
Board’s commitment to cybersecurity, industry best practices, such as:
(NIST) cybersecurity framework to
Director Rice recently obtained the
drive strategic direction and maturity
NACD CERT Certificate in Cybers-Risk • ISO 27001 - Information technology —
improvement. We engage third-party
Oversight. The Board recognizes the Security techniques
security experts for risk assessments
rapidly evolving nature of cyber threats • IEC-62443 suite — Industrial Network
and program enhancements, including
and is committed to the prevention, and System Security
ransomware vulnerability assessments,
timely detection, and mitigation of
cybersecurity tabletop exercises and
the effects of any such incidents on This holistic approach seeks to ensure
internal phishing awareness campaigns.
the Company and our stakeholders. that organizational and technical
We also maintain information security
Our Audit Committee receives reports security measures are integrated into
risk insurance coverage. The Company
on the Company’s cybersecurity the product development lifecycle at all
has not experienced a material
program and developments from our stages, from requirements specification,
cybersecurity breach to date.
Chief Information Officer and Chief to design, implementation, operation,
Information Security Officer at each Privacy and Digital Trust Compliance and maintenance. Methods and tools
of our regular Board meetings. These commonly accepted by both the
reports include analyses of recent Baker Hughes’ Global Digital Trust security and industry communities are
cybersecurity threats and incidents Compliance Program seeks to ensure used to ship products free of known
across the industry, review of our own vulnerabilities.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 87
Ensure sustainable including cybersecurity, finance, and
operations. Our Governance and
and safety, corporate responsibility,
and sustainability activities and risks,
governance Corporate Responsibility Committee, including risks related to climate change,
which recommends director candidates among others. The Governance and
Corporate governance for annual election, evaluates the Corporate Responsibility Committee also
composition of the Board annually and oversees the publication of this report.
Our framework for corporate identifies desired skills, experience, and
governance is set forth in our capabilities. The committee strives to The primary responsibility for
Governance Principles, committee maintain a Board with varied expertise developing, managing, and executing
charters, and our Fifth Amended and and perspective and one that reflects our sustainability strategy rests with
Restated Bylaws, which can be found on diversity, including but not limited to our management team. Our Chief
our website. gender, ethnicity, background, and Sustainability Officer (CSO) oversees
experience. our sustainability strategy and chairs
Our Governance Principles provide our Sustainability Steering Team. The
guidelines for Board matters, including As part of our sustainability strategy, Steering team works with subject
the leadership structure of the Board. we plan to have our Board and other matter working teams to manage
Written charters for the Board’s Audit executive staff complete annual ESG- our sustainability priorities, set goals,
Committee, Human Capital and related trainings to continue to develop monitor our progress, and coordinate
Compensation Committee, Governance knowledge in sustainability. At present, our sustainability reporting. We also
and Corporate Responsibility four of our directors, including our have a formalized sustainability
Committee, and Finance Committee CEO, have skills and experience in ESG. management structure with designated
describe the roles and responsibilities Additional information can be found in executive sponsors, including the Chief
of each committee. Additionally, our our 2023 proxy filing. Legal Officer, Chief Human Resources
Code of Conduct applies to all officers, Officer, and the Senior Vice President of
directors, and employees. Contacting the Board Enterprise Operational Excellence that
report to the Board Chair/CEO.
Our Board of Directors To provide our shareholders and other
interested parties with a direct and open
Operating responsibly and with On a working level, sustainability is
line of communication to our Board,
accountability to serve the best driven by a unified approach, across all
shareholders may communicate with
interests of our stakeholders requires functions and both segments, working
any member of the Board, including
sound corporate governance—a with our People, Planet, and Principles
our independent lead director, the
commitment that begins with our Board teams to operationalize sustainability.
chair of any committee, or with the
of Directors. Our Board recognizes that The actions of these teams are
non-management directors of Baker
operating responsibly — minimizing the described within this report.
Hughes as a group by sending such
environmental impact of our operations, written communication to our Corporate So that everyone at Baker Hughes is
fostering employee engagement, and Secretary, c/o Baker Hughes Company, responsible for sustainability, we plan to
respecting human rights by creating 17021 Aldine Westfield Road, Houston, align annual executive compensation
an environment of respect, integrity, Texas, 77073, USA or by email at to ESG outcomes by 2025. We have
and fairness for our employees and boardofdirectors@bakerhughes.com. a strong stated and demonstrated
customers wherever we do business —
commitment to reduce scope 1, 2 and 3
is fundamental to the long-term
success of our Company.
Governance of carbon emissions over time, alongside
many additional ESG-related objectives.
sustainability
Our Board exhibits a broad mix of skills, The ESG-related metrics currently
experience, diversity, and perspectives, The Board Governance and Corporate included in our short-term-incentive
collectively demonstrating leadership Responsibility Committee has oversight plan, as discussed and approved by
and a substantive understanding of responsibility for our environmental the Human Capital & Compensation
our strategy as an energy technology matters including monitoring our Committee each year and socialized
Company. Our directors’ sustainability sustainability strategy and initiatives and with many of our investors during
expertise includes direct experience management of sustainability-related bi-annual engagement sessions,
with human resources and talent risks. The Governance and Corporate currently include HSE-related goals, DEI
development, legal and corporate Responsibility Committee receives representation goals across multiple
governance issues, environmental and regular reports from management on employee groups, and scope 1 and 2
safety regulations, and risk oversight the Company’s environmental, health emissions reduction goals relative to

Our Board recognizes that operating responsibly – minimizing the environmental impact of our operations,
fostering employee engagement, and respecting human rights by creating an environment of respect, integrity,
and fairness for our employees and customers wherever we do business – is fundamental to the long-term
success of our Company. The Board and committees oversee significant ESG topics as follows:

Figure 6-1: Board of Directors oversight of environmental, social and governance matters

AUDIT FINANCE GOVERNANCE & CORPORATE HUMAN CAPITAL AND

COMMITTEE COMMITTEE RESPONSIBILITY COMMITTEE COMPENS ATION COMMITTEE

• ESG disclosures in • ESG investments • Corporate responsibility • Diversity, equity,

sec filings report and inclusion
• Investor relations
• Human rights concerns • ESG reporting standards/ • Compensation tied
metrics to ESG
• Cybersecurity
• HSE program • Competitive benefits
• Supplier audit program
and compensation
• Human trafficking
• Talent retention
• ESG policy/regulatory
updates • Succession planning
• Charitable giving • Training and
development
• Political contributions
• Talent planning/culture
• Board composition and
for energy transition
governance

our 2019 base year. Also included is proactively identify and monitor key risks The ERM executive sponsors review
development of the scope 3 emissions and opportunities that have significant response actions and key risk indicators
reduction roadmap for our internal potential to affect our business or with the risk owners, and quarterly
scope 3 emissions reduction goal. strategy. updates are presented to the Executive
Additional information can be found in Leadership Team. ERM risks are reviewed
our 2023 proxy filing. Every identified risk is rated according during Board of Directors and various
to probability, impact (including Board committee meetings throughout
environmental, social, and governance
Buffering sustainability impact), and preparedness. Those that
the year.

risks through our Enterprise are identified as severe require enhanced Given the interconnectedness of key
Risk Management process monitoring and improvement efforts. risks, the ERM team works closely with
risk champions across various levels of
We identify risks to our strategic and Identified risks are then reviewed with the organization to introduce, support,
business objectives utilizing an effective executive leadership for validation and promulgate risk management
Enterprise Risk Management (ERM) and alignment. Executive sponsors behaviors and to ensure an integrated
process — a risk-based management are assigned to the top risks and key approach to risk management.
and continuous monitoring program that risk indicators, and mitigation actions
is aligned to the business cycle, leads to are established. The ERM Steering A summary of our Company’s material
more informed decision-making, and Committee and the Board of Directors risks is presented in our 2022 Form 10-K
builds resilience across the organization. have oversight of the ERM program and filing and quarterly reports on Form 10-Q.
can recommend further analysis or, in
Our ERM process includes an annual risk some cases, specific improvements to
review with representatives of business strengthen the Company’s safeguards.
segments and various functions to

Tax We monitor changes in tax laws and appropriate, we will engage with tax
tax practices to manage tax risk. This is authorities to assist with the shaping of
We recognize that, among our duties to a key area of focus of our in-house tax future legislation and tax policy. We will
our shareholders, we have an obligation professionals with regular training from make fair and accurate disclosures in
to pay no more tax than is due under both in-house subject matter experts correspondence and returns and respond
laws and regulations of countries in and external advisors, to train staff on to queries and information requests in a
which we and our subsidiaries operate, the skills to identify and address tax risks. timely manner.
in accordance with rules set by Knowledge is shared among the tax
governments. group with the discussion of relevant tax Where disputes arise with tax authorities, in
technical information. areas of doubt or where legal interpretations
In 2022, we reported net tax cash differ, we endeavor to address the matter
payments to governments totaling $498 Our approach to cooperation and promptly, provide support for the position
million. Our tax payments are disclosed transparency is beneficial to our taken and resolve it in a responsible, open,
as part of our audited financial stakeholders and investors, as well as to and timely manner. Questions or concerns
statements. Our United Kingdom tax the governments in countries in which about issues related to tax can be reported
policy is publicly available and can be we do business. Transparency initiatives, through our public compliance line at
found on our website. such as Advanced Pricing Agreements reportconcerns.bakerhughes.com, or by
(APAs), promote several advantages calling 1-800-288-8475 (U.S. only) or 1-713-
The Vice President of Tax is responsible
to governments, including access to 626-0521 (International) to anonymously
for, and implements, our tax strategy,
business information and strategies as speak with a third-party agent.
reporting directly to the Chief Financial
well as efficient staffing of audit resources.
Officer. The VP of Tax is supported by
We have several APAs in process with key The tax department plays a critical role in
a team of in-house tax professionals
jurisdiction where we operate. delivering value for the organization in four
based in primary operational locations.
key areas of our sustainable development
We strive to achieve low-risk strategies: funding initiatives through
We understand that sometimes there
designations which allows us to focus grants, credits, and discretionary incentives;
is more than one tax outcome in
the resources of our tax organization understanding how to unlock value in
commercially motivated transactions.
on material transactions and ensure indirect tax, property tax, and excise tax;
However, we do not willfully engage in
effective and efficient ongoing tax identifying value chain opportunities; and
tax schemes nor structure transactions
compliance. Pursuant to Generally evaluating mergers and acquisitions through
in such a way that our tax team
Accepted Accounting Principles (GAAP), a sustainable business value lens.
considers the transactions contrary to
companies typically are required to
the clear intentions of the tax legislation
establish relevant tax reserves to cover Tax can provide guidance on how to
concerned.
instances where tax positions are claim and utilize grants, credits, and
Tax incentives and exemptions uncertain, subject to audit, or under discretionary incentives. The U.S. Inflation
are sometimes implemented by dispute. We expect our ongoing efforts Reduction Act’s energy transition-related
governments and fiscal authorities to engage in broader transparency with provisions highlight the tax function’s key
in order to support investment, tax administrations, to result in lower tax role in advancing decarbonization goals
employment, and economic reserves over time. and related investments in our sustainable
development. Where these exist and development strategies.
It is our policy to be compliant,
are applicable to our business, we seek
transparent, and proactive in
to apply them in the manner intended,
interactions with tax authorities. Where
taking external professional advice
where necessary.

Strive for sustainable, Our Supplier Social Responsibility Program

(SSRP) is designed to prevent, detect, and
of SSRP audit red-flag32 findings closed
within 90 days and a 90% completion
diverse, and inclusive appropriately respond to any potential rate for SSRP planned audit, which we

supply chains violations of the law or Company

policies. As a part of the SSRP, all new
achieved in 2022. While we were able
to achieve our goals in 2022, we had
We ensure that the suppliers we work direct material suppliers are screened a 10% year-over-year decrease in the
with adhere to our high standards. As and assessed for social risks. SSRP sets number of audits due to a change
a major equipment manufacturer and standards for and monitors compliance in the definition of an auditor. We
service provider, we use our influence of our suppliers’ HSE, ethics, compliance, do not believe that there have been
to raise the standards of our industry and human rights performance. Suppliers significant impacts due to this change
through our policies and programs. that are flagged as “high risk” in these as evidenced by a stable percentage
Our Supplier Integrity Guide governs topics are further audited. We suspend of audits with 81% in 2022, compared to
all aspects of our relationships with business relationships with suppliers 82% in 2021.
suppliers, contractors, consortium immediately in the case of serious labor-
partners, and consultants. By 2050, related findings.
we aim to have 80% of our suppliers
agreeing to our Integrity Guide. Our As part of our sustainability strategy,
sustainable supply-chain framework by 2025, we will be implementing a
consists of four core pillars, the details specialized human rights training for
of which can be found in our 2021 our SSRP auditors and sourcing team.
Corporate Responsibility report. In addition, we also aim to have a 90%

32 A red-flag finding is a warning sign. Once found, new suppliers should not be issued an order unless further review indicates that there is no issue or until significant progress has
been made on the corrective action.

safety, and environment Our HSE Management System is an enterprise-wide

framework that drives continuous improvement in
standards performance and compliance across our operations.

Occupational safety We take a multi-tiered approach that enables leadership

at various levels (country, business, or product level)
We strive to operate safely and responsibly to take care to create localized and relevant procedures. This
of our people, customers, partners, community, and the approach allows for more detailed task-level standards
environment. and compliance with applicable obligations, including
regulatory and customer requirements. All employees,
Our commitment to health, safety, and environment
including directly supervised contractors, are covered by
(HSE) starts at the highest levels of our Company and is
the management system.
embedded throughout all layers of the organization. As
we continue our focus on the health and safety of our The management system is formally reviewed annually
employees, we strive for everyday to be a Perfect HSE to identify any changes or improvements from relevant
Day where all employees return from work safely. In 2022, stakeholder groups, such as regulators, industry, public
Baker Hughes achieved improvements in several health and business operations. Identified improvements are
and safety metrics. Despite these successes in reducing adopted and revisions are published and communicated
overall health and safety incidents, we are saddened to to the organization. Employees are encouraged to provide
report the loss of one of our colleagues who was fatally feedback, request revisions or clarification at any time.
injured while conducting field activities in Ecuador. If changes are made to documents, we follow a revision
publication process and communicate the changes to
We encourage and empower all employees to take
employees.
an active role in “owning” HSE by stopping work when
conditions are unsafe and reporting observations, Our management system and respective policies and
near misses, and stop-work events through open procedures conform to the recognized International
reporting channels. As part of our sustainability strategy Organization for Standardization (ISO) certifications,
and our objective to uphold high health, safety, and noted below. Depending on the business needs, for key
environmental standards, we also have two objectives operations, we hold individual or multi-site certifications
for HSE: to maintain our TRIR below 0.3 and to have 365 to these standards33. At sites where a third-party
Perfect HSE Days. In 2022, we achieved our goal with a certificate is not applicable, the management system at
TRIR of 0.22. those locations meet or exceed the requirements of the
ISO standard(s) since all relevant internal policies and
Our teams are required to complete recurring training.
procedures are aligned to ISO standards.
We offer more than 230 unique HSE courses including
foundational training required for all employees,
workplace and job specific training, and human-
performance leadership training for managers. Our
ambition is to make every day a Perfect HSE Day—one
without serious injuries, accidents, or harm to the
environment. In 2022, we achieved 217 Perfect HSE Days,
up 6% from 2021., but short of our target of 365 Perfect
HSE Days.

33 Business needs may include a customer’s’ contractual requirements.

61
sites were certified to ISO 45001,
the international standards for
occupational health and safety
management systems

245
sites were certified to ISO 9001,
the international standard for
quality management systems

In addition, our internal

standards are aligned to ISO
50001, the international standard
for energy management
systems in support of our
energy-efficiency goals. One
site is also certified to the ISO
50001 standard.

Independent reviews
are conducted through the
multi-site certification process
and external audits.

Izekor Nosa Bill | Shop Operator, Industrial & Energy Technology

Our approach to health and safety To improve performance in this area, reviews. HSE employee engagements
we have implemented additional are conducted by leadership regularly
Health, safety, and the environment
efforts for leaders, including providing and reported monthly in our data
(HSE) principles are embedded in
targeted messaging to engagements management system. All employees
everything we do and how we work —
and reference materials. We restated and contractors have a responsibility
from protecting the safety of our teams,
our expectations with leaders on and are empowered to actively own
operations, and the environment, to
compliance with engagements. We HSE to ensure the health and safety
maintaining compliance with external
also implemented an expansion of of everyone around them. In 2022, we
parties, customers, and regulatory
our tool to enable a wider selection of logged 1,071,845 HSE observations, a
requirements.
engagement categories and introduced modest 2% increase in observations
Our commitment to HSE starts at the a mobile application to efficiently record since last year.
highest levels of our Company and is engagements in real-time while at a
job site or facility. Occupational health Health and safety is at the core of our
embedded throughout all layers of the
risk identification and mitigation are culture as we are committed to doing
organization. Our Senior Vice President
managed through our global health the right thing to protect our employees,
of Enterprise Operations Excellence,
team. Management leads in the customers, the communities where we
in partnership with our HSE Leader,
communication and implementation live and work, and the environment.
is responsible for our HSE systems
of health-related activities and We use a risk-based approach to
and standards. We had a small, 3%
communicates and implements HSE determine hazards that could lead to
decline in leadership engagements
priorities and metrics into strategic adverse health, safety, environment,
from 2021. Leadership engagements
planning, operations, and business and quality (HSEQ) impacts or cause
are down slightly over the prior year.

94 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
processes to deviate from planned locally, and two training activities are and other higher-risk activities related
results. The risk management process recommended to all contingent workers. to pressure, lifting and rigging, electrical,
includes risk identification, risk analysis, Effectiveness of training is evaluated and process safety.
risk evaluation, and risk mitigation. The through analysis of incident trends,
hazards that have been determined audit results, and employee feedback. Employees, contractors, or those directly
to cause or contribute to cases of ill In 2022, 231 HSE courses were offered involved with our activities are expected
health during the reporting period and employees completed 703,977 to stop work when conditions are unsafe
are associated with exposure to trainings. On average, employees and report observations, near misses,
extreme environmental temperatures spend approximately 5.3 hours per year and stop-work events to management.
and repetitive motion work activities. completing HSE training and contractors If an individual exercises their “stop work
Governance has been updated spent approximately 0.6 hours. authority,” activities must be stopped
to include a work / rest schedule immediately and may resume once
for extreme heat environments Taking preventative measures the issue is addressed. When incidents
and educational communications do occur, they are tracked in our data
In addition to training, we integrate
have been developed to alert the management system, investigations
policies, programs, and initiatives
organization of the hazard and potential are conducted, formal incident reviews
to protect employees from health
risk control options. The occurrence are performed, and corrective actions
and safety risks and hazards and
of repetitive motion musculoskeletal to prevent recurrence are tracked. In
promote the overall well-being of our
disorders is not common for our addition, learnings are disseminated
employees. By strengthening our focus
work; however, efforts are underway to targeted employee populations with
on learning and improvement, we aim
to develop an ergonomics training similar operational risks following an
to minimize human error, mitigate
program for site ergonomics teams incident.
incidents, and continuously improve
as well as a principle of design for
our HSE performance. Throughout
engineers.
the year, we continued our emphasis
on proactive prevention measures,
Training to foster a safety culture
human performance, and leadership As we continue our focus on
We have an obligation to ensure engagements to discuss risk. the health and safety of our
all employees are trained and employees, we strive for everyday
understand our HSE fundamentals. We Local leadership periodically reviews to be a Perfect HSE Day where
have a comprehensive HSE training and assesses related data trends, all employees return from work
curriculum designed for the complex communicates feedback to employees, safely. In 2022, we achieved
nature of our operational risk profile, and reviews and updates operational improvements in several health
enabling employees to gain technical procedures as needed. We set clear and safety metrics, including
awareness on risks and to recognize targets and regularly track and

15%
hazards. Training needs are assessed assess our progress through annual
through evaluation of relevant management reviews, site self-
regulations, applicable laws, and risks assessments completed based on site
improvement in our days away
associated with the employee’s job risk criteria, internal audits conducted by
from work case rate.
duties. Training topics include fatigue trained employee auditors, and external
management awareness, stop work annual audits from customers and the
awareness, emergency and disaster
preparedness, and slips, trips, and falls.
ISO registrar.

Our risk assessment process is in

86%
These trainings are deployed using improvement in our total
place to identify, understand, and
our online learning system, and in- recordable illnesses.
mitigate impacts through proactive
person trainings are provided when
and preventative programs and control
required. Trainings are provided free of
measures. Risks are assessed from the
charge, during paid working hours. All
site or project level, and includes risks
employees are assigned required HSE
from transportation, material handling
training, while contractors are assigned
activities, remote/offshore operations,
trainings based on need identified

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 95
Process Safety Management The emphasis on leading indicators Supporting workers’ health
enables us to extract actionable insights
Our Process Safety Management
from data without the impacts of high The health, safety, and well-being of our
(PSM) program is aligned to industry
consequence events. people is of paramount importance.
standards and best practices, aimed
When we prioritize our physical and
at preventing or mitigating events In addition to project-based mental well-being, it empowers our
that can cause catastrophic safety collaboration, engagement with employees to be their best at work and
or environmental consequences. The customers, industry, and regulatory at home.
program includes training, global and agencies occur continually to advance
business-specific procedures, risk process safety performance through Our well-being strategy, Living Well,
assessments, barrier management learnings and best practice sharing. provides all employees and their
checklists, process safety operations Other contributions to industry include families a wide variety of resources,
fundamentals, management of change, technical publications or presentations, benefits, and learning opportunities
audits, threat response drills, among leading sessions in forums and designed to drive an inclusive culture
other elements. conferences, and projects with and facilitate ownership of health and
committees and workgroups. well being. Throughout the year, we
Process Safety projects are ongoing
hosted events with health and wellness
within some of our operations. Audits
experts, further embedded wellness into
are conducted globally for performance
leadership engagements, and provided
assurance, including execution of
Our ambition to achieve zero health and wellness resources and tools
a targeted audit strategy covering
process safety events drives our to all employees.
specific operational business units.
The audits help ensure adoption and strategy and approach, which is
In addition to physical and mental
sustainable performance of process centered around the following
health, we host dialogues across the
safety risk management across the principles:
Company on how safety, security,
enterprise. Learnings from incidents are purpose, and connections at work
1. Process safety hazards and
used to focus on reliable execution of and in the community support our
risks are understood across
safety-critical tasks as a key to reducing overall well-being. We understand that
the Company.
risk as low as reasonably practicable. managing one’s well-being is a unique
The Process Safety Operations 2. Process safety is intrinsic to and personal process, and we strive to
Fundamentals were designed as product and service delivery. connect employees with the resources
a human-factors tool to educate, they need, when they need them.
reinforce, and continually remind the 3. Sound risk mitigation is
workforce of their importance. applied through operational We work with our health benefit
and asset integrity. providers and internal teams to
Process Safety Events include barrier offer employees health and wellness
impacts and loss of primary containment 4. Process safety is sustained programs, telemedicine access, health
events and are included in our leading through continual learning screenings, immunizations, fitness
and lagging performance indicators. and improvement. reimbursements, and virtual wellness

96 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
tools. Our employee assistance program functions, and regions, in accordance are required to complete annual training
gives employees and their family with global risk and operational on human rights and adhere to our
members direct access to professional structure. The Security team oversees supplier integrity guide, which includes
coaches for in-the-moment counseling the administration, governance, guidelines on human rights.
or referrals to community experts and implementation of the crisis
and extended care providers to help management and business continuity Aligned with our strategic outcome
navigate daily life, manage remote work, programs through global standards of 100% of targeted (e.g., security)
and cope with major life events. and processes, training, exercises, and personnel trained annually on human
ongoing engagement. rights policies and procedures, in 2022,
Employee health and privacy 100% of our enterprise security personnel,
At the center of our security operations including full-time security personnel
We emphasize the protection of
is the Global Intelligence and Travel and embedded contractors, received
personal information, including personal
Security Operations Center focused on training on human rights. We also
health. We do not routinely house
monitoring global developments and incorporate principles on security and
or capture personal health-related
issuing timely updates, administering human rights into requests for proposals
information unless required, such as
the travel security program for and tenders, to ensure all security
COVID vaccination status or medical
high-risk locations, and operating suppliers and contractors understand
accommodations. In situations where
the emergency-notification system and adhere to our commitments to
we collect personal health information,
for critical communications and ethical business conduct.
we follow strict access control and
operational impact.
confidentiality policies inclusive but
not limited to our Personnel Privacy Other priorities include monitoring
Notice and our Data Privacy Policy. All global developments while educating
personal health information on workers and equipping employees to recognize,
is maintained through our independent report, and prevent an array of potential
and highly inspected third-party risks at our workplaces, while traveling,
vendors that administer our benefit or across our operations. Workplace
programs. Should any personal health- violence, natural disasters, terrorism,
related information be collected, we and broader socioeconomic or
have strict access control measures geopolitical risks are just a few of the
limiting visibility and management potential risks monitored and managed.
of data to only those required for the
business process. Security and human rights

As a signatory to the UN Global Compact,

Security we align with the principles outlined
in the Voluntary Principles on Security
We are committed to protecting our
and Human Rights. In 2021, internal
people, workplaces, and operations,
training and awareness resources were
and respecting communities globally
developed by our security team with the
through proactive risk-based,
purpose of embedding these principles
intelligence-led security programs
into our operations. Security personnel,
and mitigation measures. Our security
including embedded security contractors,
team supports business segments,

Ahmetovic Matteo | Shop operator, Flow Machining Cell

Masi Gabriele | Production supervisor, Flow Machining Cell
Bruni Marco | Shop operator, Flow Machining Cell

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes 97
Appendices
As an energy technology leader, we model leadership through excellence in sustainability performance. We strive to improve
how we track, measure, and report our sustainability data, following the best practices for sustainability reporting. Despite the
dynamic development of guidance and standards for corporate sustainability reporting, we aim to report reliable, verified
investment-grade data. We are also committed to providing transparency on the quality of our data. The information contained
in this report is governed by clearly defined processes and controls. Upon final review and approval of each KPI and metric by
process owners, the report is drafted by our Sustainability Strategy and Performance Management Team. The report and its
included data are then reviewed by our internal audit team. Our internal audit function follows rigorous processes mirroring
financial data governance and auditing standards to increase the fidelity of our reporting. Additionally, certain People and
Planet data are assured by our independent accountants, KPMG, as discussed in their reports in Appendix B.

Appendix A – Standard Alignment Tables

Our sustainability report contains metrics that are aligned to the following recognized frameworks:

• Global Reporting Initiative (GRI)

• Sustainable Accounting Standards Board (SASB) Oil & Gas Services Industry Standard - Extractives & Minerals Processing
Sector

• Task Force on Climate-Related Financial Disclosures (TCFD)

Appendix B – Metrics, Statements and Notes with Independent Accountants’ Reports

Our People and Planet data are presented as follows:

People:

• Statement and Notes on Selected People Metrics, including Glossary of Terms

Planet:

• Statements and Notes on Greenhouse Gas CO2e Emissions

• Statement and Notes on Waste

An Independent Accountants' Report precedes the related People and Planet reporting.

98 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Appendix A:
Standard Alignment Tables
Interpreting this section
The information in the indices below show how we align to accepted sustainability standards, including industry standards. The
tables below list indicators from GRI, SASB, and TCFD on which we have fully or partially reported. Estimates are developed using
the best available data at time of publication. In some cases, data is estimated and is based solely on our interpretation and
judgment.

GRI Index
GRI TOPIC DISCLOSURE
DISCLOSURE TITLE LOCATION AND DATA
STANDARD NO.
Baker Hughes Company 17021 Aldine Westfield Houston, Texas.
2-1 Organizational details
Form 10-K
Entities included in the
2-2 organization’s sustainability Form 10-K
reporting
Reporting period,
From January 1st, 2022, through December 31st, 2022; Annual reporting; 05/24/2023.
2-3 frequency, and contact
SustainabilityTeam@bakerhughes.com
point
Restatements of
2-4 Baseline emissions (GRI 305-1d, 305-2d, 305-3e).
information
2-5 External assurance Independent Accountants’ Reports, p. B-4, p. B-18 - B-19
Activities, value chain, and
2-6 Company overview, p. 16
other business relationships
2-7 Employees People chapter pp. 34-57
Workers who are not
2-8 Our people, pp. 36-38.
employees
Governance structure and 2023 Proxy filing,
2-9
General composition p. 88
disclosure Nomination and selection
2-10 of the highest governance 2023 Proxy filing
body
Chair of the highest 2023 Proxy filing
2-11
governance body p. 6
Role of the highest
Ethics and compliance, p. 84
governance body
2-12 Governance of sustainability, pp. 88-89
in overseeing the
Buffering sustainability risks through enterprise risk management, p. 89.
management of impacts
Delegation of responsibility
2-13 Governance of sustainability, pp. 88-89.
for managing impacts
Role of the highest
2-14 governance body in Governance of sustainability, pp. 88-89.
sustainability reporting
Conflicts committee charter
2-15 Conflicts of interest
2023 Proxy filing
Communication of critical
2-16 Open reporting and consultation, p. 84.
concerns

*Denotes compliance with GRI 11: Oil and Gas Sector Standard 2021

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes A-1
Our Board of Directors consists of corporate leaders with expertise in substantive
areas that guide our corporate strategy and objectives, including our ESG strategy.
In furtherance of its responsibility to oversee the company’s position on corporate
social responsibility and public issues of significance which affect investors and other
key stakeholders, the Governance & Corporate Responsibility Committee reviews the
Collective knowledge of the composition of the Board on an annual basis in order to ensure that the collective
2-17
highest governance body knowledge, skills and experience of the Board aligns with the Company’s aligns with
the Company’s sustainability goals. In addition, the Committee recommends director
candidates for annual election, evaluates the composition of the Board annually
and identifies desired skills, experience, and capabilities. The Committee strives to
maintain a Board with varied expertise and perspective and one that reflects diversity,
including but not limited to gender, ethnicity, background, and experience.
Our Board of Directors is committed to overseeing the integration of ESG principles
throughout the organization. The Board receives updates regarding our sustainability
strategy and long-term ESG objectives on a periodic basis. While our full Board is
tasked with ESG oversight, certain of its committees have responsibility for certain
aspects of the ESG strategy. The Human Capital and Compensation Committee
reviews human capital management metrics. The Governance and Corporate
Responsibility Committee oversees the Company’s positions on corporate social
responsibilities and has been charged by the Board with oversight responsibility of the
Company’s environmental matters as well as assessing its sustainability strategy and
initiatives, including the publication of our Corporate Responsibility report. In addition,
Evaluation of the the Governance & Corporate Responsibility Committee receives regular reports from
2-18 performance of the highest management on the Company’s environmental and sustainability priorities and risks,
governance body including progress on our net-zero emission goals and execution, our ESG reporting
frameworks, and ESG ratings. The Audit Committee monitors compliance, human
rights concerns and ethical risks. As reflected in our Governance Principles, the Board
performs an annual self-evaluation led by the lead independent director.

General As a component of the annual evaluation, each director is asked to provide an

Disclosure assessment of the effectiveness of the Board and its committees. The Board
utilizes the results of its annual self-evaluation to identify areas of improvement
and strengthen corporate governance practices. The Governance and Corporate
Responsibility Committee monitors the process to assess the effectiveness of the
Board. On a periodic basis, the lead independent director has engaged independent
governance experts to facilitate the evaluation process and to identify areas.
The Human Capital and Compensation Committee reviews the executive and
director's compensation each year to ensure that compensation aligns with the
company's long-term strategies. Our compensation policies around executive
compensation reinforces market-aligned and pay for performance compensation
programs. The Human Capital and Compensation Committee has responsibility for
reviewing the relationship between our risk management policies and practices,
2-19 Remuneration policies
corporate strategy and senior executive compensation and assessing whether any
such risk is reasonably likely to have a material adverse effect on the Company.
Additional details on our Board of Directors compensation and our executive
compensation policies and programs, including the process for determining
remuneration, can be found in the Compensation, Discussion & Analysis section of our
Proxy Statement as filed with the Securities and Exchange Commission.
Process to determine
2-20 2023 Proxy filing
remuneration
Annual total compensation
2-21 2023 Proxy filing
ratio
Statement on sustainable
2-22 CEO Letter, pp. 6-7.
development strategy
2-23 Policy commitments Ethics and compliance, p. 84.
Embedding policy Ethics and compliance, p. 84; Strive for sustainable, diverse, and inclusive supply
2-24
commitments chains, p. 91.
Processes to remediate Ethics and compliance, p. 84; Strive for sustainable, diverse, and inclusive supply
2-25
negative impacts chains, p. 91.

A-2 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Mechanisms for seeking
2-26 advice and raising Open reporting and consultation, p. 84.
concerns
Compliance with laws and
2-27 Material legal actions, if any, are reported in our Form 10-K.
regulations
General
Disclosure 2-28 Membership associations Stakeholder engagement, p. 30

Approach to stakeholder
2-29 Stakeholder engagement, p. 30
engagement
Collective bargaining Approximately 26% of employees are covered under a collective bargaining
2-30
agreements agreement.
Process to determine
3-1* Materiality assessment, pp. 28-29.
material topics
Material
3-2* List of material topics Materiality assessment, pp. 28-29.
topics
Management of material
3-3* People, pp. 34-57; Planet, pp. 58-79; Principles, pp. 80-97.
topics
Economic impact, p. 17
Direct economic value
201-1* Tax not reported by country due to confidentiality constraints. Economic value
generated and distributed
generated is not reported due to confidentiality constraints.

Economic Financial implications

performance and other risks and
201-2* Climate change as a financial risk and opportunity, pp. 68-69.
opportunities due to
climate change
Financial assistance
201-4* Standard not material.
received from government
Proportion of senior
Market
202-2* management hired from Data not available.
presence
the local community
Infrastructure investments
Indirect 203-1* Data not available.
and services supported
economic
Significant indirect
impact 203-2* Data not available.
economic impacts
Principles performance snapshot, p. 81.
Procurement Proportion of spending on “Local” is defined as being purchased in the same country as the location of the order
204-1*
practices local suppliers issuances. Our significant operations are those where we conduct manufacturing,
assembly, maintenance, and service operations.
Principles performance snapshot, p. 81.
Operations assessed for
205-1* All 2 Business Segments assessed.
risks related to corruption
Anti-bribery and anti-corruption, p. 84.
Communication and Principles performance snapshot, p. 81.
Anti-
training about anti-
corruption 205-2* Data not provided by region or employee category. Data regarding business partners
corruption policies and
procedures (205-2c) is not available.

Confirmed incidents of
205-3* corruption and actions Data not available due to confidentiality constraints.
taken
Legal actions for anti-
Anti-
competitive behavior,
competitive 206-1* Form 10-K
anti-trust, and monopoly
Behavior
practices

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes A-3
207-1* Approach to tax Tax, p. 90.
Tax governance, control,
207-2* Tax, p. 90.
and risk management
Stakeholder engagement
Tax
207-3* and management of Tax, p. 90.
concerns related to tax
Country-by-country
207-4* Data not available.
reporting
Energy consumption within
302-1* Planet performance snapshot, p. 59.
the organization
Energy consumption
302-2* Data not available.
outside the organization
Energy
302-3* Energy intensity Planet performance snapshot, p. 59.

Reduction of energy
302-4 Data not available.
consumption
Interactions with water as a
303-1* Water stewardship, pp. 73-75.
shared resource
Management of water
303-2* Water stewardship, pp. 73-75.
discharge-related impacts
Water and
effluents 303-3* Water withdrawal Planet performance snapshot, p. 59.

303-4* Water discharge Planet performance snapshot, p. 59.

303-5* Water consumption Planet performance snapshot, p. 59.

A-4 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Direct (scope 1) GHG Statements and Notes on Greenhouse Gas CO2e Emissions,
305-1*
emissions pp. B-20 - B-30
Energy indirect (scope 2) Statements and Notes on Greenhouse Gas CO2e Emissions,
305-2*
GHG emissions pp. B-20 - B-30
Other indirect (scope 3) Statements and Notes on Greenhouse Gas CO2e Emissions,
305-3*
GHG emissions pp. B-20 - B-30
Statements and Notes on Greenhouse Gas CO2e Emissions,
305-4* GHG emissions intensity
pp. B-20 - B-30
Emissions Reduction of GHG
305-5* Data not available.
emissions
Emissions of ozone-
305-6 depleting substances Planet performance snapshot, p. 59.
(ODS)
Nitrogen oxides (NOX),
sulfur oxides (SOX), and
305-7* Data not available.
other significant air
emissions
Waste generation and
306-1* significant waste-related Managing waste, pp. 71 – 72.
impacts
Management of significant
306-2* Managing waste, pp. 71 – 72.
waste-related impacts
Waste (2020)
306-3* Waste generated Planet performance snapshot, p. 59.

Waste diverted from

306-4* Planet performance snapshot, p. 59.
disposal

306-5* Waste directed to disposal Planet performance snapshot, p. 59.

Effluents and
306-3 Significant spills Planet performance snapshot, p. 59.
waste (2016)
New suppliers that
Supplier 308-1 were screened using Data not available.
Environmental environmental criteria
Assessment Negative environmental
308-2 impacts in the supply chain Engaging our suppliers, p. 66.
and actions taken
New employee hires and Attract, retain, and develop diverse talent,
401-1*
employee turnover pp. 42-43.
Benefits provided to full- a) Retaining our people by investing in our people, pp. 44-45.
time employees that are
Employment 401-2* b) Our significant operations are those where we conduct manufacturing, assembly,
not provided to temporary
or part-time employees maintenance, and service operations.

A:c) People performance snapshot, pg. 35

401-3* Parental leave
d:e) Data not available.
Labor/ Minimum notice periods We comply with local laws and collective bargaining agreements pertaining to
Management 402-1* regarding operational operational changes. Notice periods vary by geography but are generally at least one
relations changes month.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes A-5
Occupational health and
403-1* safety management Our HSE management system, p. 92.
system
Hazard identification, risk
403-2* assessment, and incident Our approach to health and safety, pp. 94 – 95.
investigation
Occupational health Our approach to health and safety, pp. 94 – 95.
403-3*
services Process safety management, p. 96.
Worker participation,
consultation, and
403-4* communication on Occupational safety, p. 92.
occupational health and
safety
Worker training on
403-5* occupational health and Training to foster a safety culture, p. 95.
safety

403-6* Promotion of worker health Supporting workers’ health, pp. 96-97.

Occupational Prevention and mitigation

health and of occupational health Our approach to health and safety, p. 94.
safety 403-7* and safety impacts
directly linked by business Process safety management, p. 96.
relationships
Workers covered by an
occupational health and
403-8* Our HSE management system, p. 92.
safety management
system
Principles performance snapshot, p. 81.

Process Safety Management, p. 96.

403-9* Work-related injuries Formula for calculating TRIR: # of recordable cases X 200,000 hours divided by total
hours worked. Total hours worked are calculated using factors based on job family
data for each employee, such as length of shift and overtime typical of job families.

Information unavailable for non-employees due to data limitations.

Principles performance snapshot, p. 81.

Our approach to health and safety, p. 94.

403-10* Work-related ill health
The ill health metrics are inclusive of non-Baker Hughes employees who work at
Baker Hughes facilities. However, in 2022, all ill health incidents involved Baker Hughes
employees.
Average hours of training Table 4-3: Average hours of training, p. 48.
404-1*
per year per employee People chapter pp. 34-57
Programs for upgrading
Training and employee skills and
404-2* Career transitions, p. 46.
education transition assistance
programs
Percentage of employees Table 4-1: Percentage of employees receiving annual performance and career
receiving regular development reviews, p. 44.
404-3
performance and career
development reviews People chapter pp. 34-57

Diversity of governance 2023 Proxy Statement

405-1*
Diversity bodies and employees People chapter pp. 34-57
and equal Ratio of basic salary and
opportunity a:b) Data breakdown not available, but company-level data is available in latest UK
405-2* remuneration of women
Gender Pay Gap Report.
to men
Incidents of discrimination
Non-
406-1* and corrective actions Data not available due to confidentiality constraints.
discrimination
taken

A-6 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Operations and suppliers
Freedom of
in which the right to
association
407-1* freedom of association and Data not available.
and collective
collective bargaining may
bargaining
be at risk
Operations and suppliers at
408-1 a:b) Data not available. c) Human rights, p. 85, Strive for sustainable, diverse,
Child labor 408-1 significant risk for incidents
and inclusive supply chains, p. 91.
of child labor
Operations and suppliers at
Forced or
significant risk for incidents 409-1a) Data not available. b) Human Rights, p. 85, Strive for sustainable, diverse, and
compulsory 409-1*
of forced or compulsory inclusive supply chains, p. 91.
labor
labor
Security personnel trained
Security
410-1* in human rights policies or Principles performance snapshot, p. 81.
practices
procedures
Rights of Incidents of violations
indigenous 411-1* involving rights of Data not available due to confidentiality constraints.
peoples indigenous peoples
Operations with local
community engagement,
413-1* Data not available.
impact assessments, and
Local development programs
communities Operations with significant
actual and potential
413-2* Form 10-K
negative impacts on local
communities
New suppliers that were
414-1* screened using social Data not available.
Supplier social
criteria
assessment
Negative social impacts Principles performance snapshot, p. 81.
414-2* in the supply chain and
actions taken 414-2b) Data not available.

Public policy 415-1* Political contributions Political contributions report.

Assessment of the health
Customer
and safety impacts of
Health and 416-1* Data not available.
product and service
Safety
categories
Substantiated complaints
Customer concerning breaches of
418-1 Principles performance snapshot, p. 81.
privacy customer privacy and
losses of customer data

SASB Sector Standards

SECTOR TOPIC CODE ACCOUNTING METRIC INFORMATION REFERENCE

(1) Total Fuel Consumption:

Total fuel consumed, percentage
5,795,564 GJ
renewable, percentage used in: (1)
EM-SV-110a.1
on-road equipment and vehicles
and (2) off-road equipment. GJ (2) 0% (3-1) 23.4%.
Emission reduction services (3 -2) 76.6%.
& fuels management
Discussion of strategy or plans Become a net-zero business by
EM-SV-110a.2 to address air emissions-related 2050,
risks, opportunities, and impacts. pp. 62-65.
Percentage of engines in service
EM-SV-110a.3 that meet Tier 4 compliance for Data not available.
non-road diesel engine emissions.
(1) Total volume of fresh water
(1) Standard not applicable.
EM-SV-140a.1 handled in operations, (2)
(2) Standard not applicable.
percentage recycled.
Water Management
Discussion of strategy or plans
Services
to address water consumption Water stewardship,
EM-SV-140a.2
and disposal-related risks, pp. 73-75.
opportunities, and impacts.
Volume of hydraulic fracturing (1) Data not available.
EM-SV-150a.1
fluid used, percentage hazardous. (2) Data not available.
Chemicals Management Discussion of strategy or plans to Managing chemicals,
EM-SV-150a.2 address chemical-related risks,
opportunities, and impacts. p. 79.

Oil & Gas services Average disturbed acreage per (1) Standard not applicable
EM-SV-160a.1
(1) oil and (2) gas well site. (2) Standard not applicable.
Ecological Impact Discussion of strategy or plan to
Management address risks and opportunities Biodiversity and natural capital,
EM-SV-160a.2
related to ecological impacts pp. 76-77.
from core activities.
(1a) 0.22

(1b) Data not available.

(1c) 0.23
(2a) Data not available. Absolute
value is 1.
(1) Total recordable incident rate
(2b) Data not available. Absolute
(TRIR), (2) fatality rate, (3) near
value is zero.
miss frequency rate (NMFR),
(4) total vehicle incident rate (2c) Data not available.
(TVIR), and (5) average hours of (3a) Data not available.
Workforce Health & Safety EM-SV-320a.1 health, safety, and emergency
(3b) Data not available.
response training for (a) full-time
(3c) Data not available.
employees,
(4a) Data not available, absolute
(b) contract employees, and value 213.
(c) short-service employees. (4b) Data not available.

(4c) Data not available.

(5a) 5.3 hours.

(5b) 0.64 hours.

(5c) Data not available.

A-8 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Description of management
systems used to integrate a Process safety management, p.
Workforce Health & Safety EM-SV-320a.2
culture of safety throughout the 96.
value chain and project lifecycle.
Amount of net revenue in
countries that have the 20
EM-SV-510a.1 lowest rankings in Transparency $300,670,377.00
International’s Corruption
Business Ethics & Payments
Perception Index.
Transparency
Description of the management
system for prevention of
Oil & Gas services EM-SV-510a.2 Ethics and compliance, p. 84.
corruption and bribery throughout
the value chain.
Discussion of corporate positions
related to government regulations
Management of the Legal Public policy and working with
EM-SV-530a.1 and/or policy proposals that
& Regulatory Environment governments, p. 33.
address environmental and social
factors affecting the industry.
Description of management
Critical Incident Risk systems used to identify and Process safety management, p.
EM-SV-540a.1
Management mitigate catastrophic and tail- 96.
end risks.

(1) Number and aggregate

volume of hydrocarbon spills,
(1) 37 barrels of oil; 3 barrels of fuel
Oil & gas exploration & (2) volume in Arctic, (3) volume
Biodiversity Impacts EM-EP-160a.2 (2) 0 barrels (3) 0 barrels (4) 37
production impacting shorelines with ESI
barrels.
rankings 8-10, and (4) volume
recovered.

EM-SV-000.A Number of active rig sites. Standard not applicable.

EM-SV-000.B Number of active well sites. Standard not applicable.

Oil & Gas services Total amount of drilling
EM-SV-000.C Standard not applicable.
performed.
Total number of hours worked by
EM-SV-000.D Data not available.
all employees.

1. Governance

TCFD RECOMMENDATIONS DISCLOSURE CONTENT AND REFERENCES

Describe the board's oversight of climate-related Corporate governance, p. 88.

risks and opportunities. Governance of sustainability, pp. 88-89.
Describe management's role in assessing and
Governance of sustainability, pp. 88-89.
managing climate-related risks and opportunities.

2. Strategy

TCFD RECOMMENDATIONS DISCLOSURE CONTENT AND REFERENCES

• CEO letter, pp. 6-7.

Describe the climate-related risks and opportunities
the organization has identified over the short, • Climate change as a financial risk and opportunity, pp. 68-69.
medium, and long-term.
• Form 10-K, item 1A. risk factors, pp. 14-25.
• CEO letter, pp. 6-7.
Describe the impact of climate-related risks and
• CSO letter, pp. 8-9.
opportunities on the organization's businesses,
• Innovation and collaboration, p. 19.
strategy, and financial planning.
• Climate change as a financial risk and opportunity, pp. 68-69.
Describe the resilience of the organization's
strategy, taking into consideration different
• Climate change as a financial risk and opportunity, pp. 68-69.
climate-related scenarios, including a 2°C or lower
scenario.

3. Risk Management

TCFD RECOMMENDATIONS DISCLOSURE CONTENT AND REFERENCES

Describe the organization's processes for • Become a net-zero business by 2050, pp. 62-65.
identifying and assessing climate-related risks. • Climate change as a financial risk and opportunity, pp. 68-69.
Describe the organization's processes for
• Planet, pp. 58-79.
managing climate-related risks.
Describe how processes for identifying, assessing,
and managing climate-related risks are integrated • Buffering sustainability risks through our Enterprise Risk Management process, p. 89.
into the organization's overall risk management.

4. Metrics and Targets

TCFD RECOMMENDATIONS DISCLOSURE CONTENT AND REFERENCES

Disclose the metrics used by the organization to Statements and Notes on Greenhouse Gas CO2e Emissions,
assess climate-related risks and opportunities in
line with its strategy and risk management process. pp. B-20 - B-30

Disclose scope 1, scope 2, and, if appropriate, scope Statements and Notes on Greenhouse Gas CO e Emissions,
2
3 greenhouse gas (GHG) emissions, and the related
risks. pp. B-20 - B-30

Describe the targets used by the organization to

manage climate-related risks and opportunities Become a net-zero business by 2050, pp. 62-65.
and performance against targets.

A-10 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Appendix B:
Metrics, Statements and Notes with
Independent Accountants’ Reports
Interpreting this section
We follow rigorous processes to present the relevant metrics in accordance with the methodology specified in the subject
matter. In this section, you will find the independent accountants' reports providing limited or reasonable assurance over
selected metrics found in this section.

SUBJECT MATTER 2022 ASSURANCE LEVEL

People: Employee headcount information Employee counts

People: Statement and Notes on Selected

All listed People metrics on pp. B-5 - B-16 Limited assurance
People Metrics, including Glossary of Terms

Scope 1 emissions Reasonable assurance

Planet: Statements and Notes on Greenhouse
Scope 2 emissions Reasonable assurance
Gas CO2e Emissions
Scope 3 emissions Limited assurance

Planet: Statement and Notes on Waste Waste metrics Limited assurance (first year assured)

METRIC CRITERIA 1 KEY PERFORMANCE INDICATORS (KPI) 2 2022 3 METHODOLOGY

# of total employees. 55,235

# of total employees by region -
7,081
Asia Pacific (APAC).
# of total employees by region - Russia
and Commonwealth of Independent 681
States (RCIS).
# of total employees by region -
9,486
Middle East and North Africa (MENAT).
# of total employees by region -
14,080
North America (NAM).
# of total employees by region -
5,828
Latin America (LATAM).
# of total employees by region -
1,006
Sub-Saharan Africa (SSA).
# of total employees by region –
17,073
Europe.
# of total full time employees. 54,490
# of total full time employees by region
7,026
Employee Management - Asia Pacific (APAC).
counts metric # of total full time employees by
region - Russia and Commonwealth of 679
Independent States (RCIS).
# of total full time employees by region
9,475
- Middle East and North Africa (MENAT).
# of total full time employees by region
14,046
- North America (NAM).
# of total full time employees by region
5,745
- Latin America (LATAM).
# of total full time employees by region
997
- Sub-Saharan Africa (SSA).
# of total full time employees by region
16,522
– Europe.
# of total part time employees. 745
# of total part time employees by
55
region - Asia Pacific (APAC).
# of total part time employees by
region - Russia and Commonwealth of 2
Independent States (RCIS).

1 Included to indicate the most comparable GRI metric; however, GRI disclosures are not complete relative to the requirements of GRI.
2 Date range is from (1/1/22-12/31/22) unless otherwise noted.
3 Percentages are rounded to one decimal place. If a percentage shows as 0.0 that means its less than .05 percent.

METRIC CRITERIA 1 KEY PERFORMANCE INDICATORS (KPI) 2 2022 3 METHODOLOGY

# of total part time employees by

region - Middle East and North Africa 11
(MENAT).
# of total part time employees by
34
region - North America (NAM).
# of total part time employees by
83
region - Latin America (LATAM).

# of total part time employees by

9
region - Sub-Saharan Africa (SSA).
# of total part time employees by
551
region – Europe.
# of total employees by gender – Men. 43,535
# of total employees by gender –
10,554
Women.
# of total employees by gender -
1,140
Gender undeclared.
# of total employees by gender -
6
No gender selected.
# of total full time employees by gender
43,107
– Men.
# of total full time employees by gender
10,238
– Women.
# of total full time employees by gender
1,139
- Gender undeclared.
# of total full time employees by gender
6
- No gender selected.
Employee Management
# of total part time employees by
counts metric 428
gender – Men.
# of total part time employees by
316
gender – Women.
# of total part time employees by
1
gender - Gender undeclared.
# of total employees by age group -
5,606
under 30.
# of total employees by age group -
38,352
30-50.
# of total employees by age group -
11,274
over 50.
# of total employees by age group -
3
No age selected.
# of total senior professional and above
8,944
employees (SPB+).
# of total Executive Band and above
639
employees (EB+).
# of total employees by job function –
4,968
Commercial.
# of total employees by job function –
6,583
Enabling.
# of total employees by job function –
32,112
Production.
# of total employees by job function –
10,389
Technical.
# of total employees by job function –
1,183
Other.

Independent Accountants’ Review Report

To the Board of Directors and Management
Baker Hughes Company:
To the Board of Directors and Management
We
Bakerhave reviewed
Hughes Company:the Selected People Metrics as of and for the year ended December 31, 2022 in the
accompanying Statement and Notes on Selected People Metrics (the “People Review Subject Matter”) in
Appendix B of the 2022
We have reviewed Corporate
the Selected Sustainability
People Metrics as Report
of and(the
for “Report”) of Baker
the year ended Hughes Company
December 31, 2022 in(the the
“Company”). The Company’s management is responsible for
accompanying Statement and Notes on Selected People Metrics (the “People Review Subject preparing and presenting the People Review
Matter”) in
Subject Matter
Appendix in accordance
B of the 2022 Corporate with the Methodology
Sustainability and (the
Report related Glossary
“Report”) of Terms
of Baker set forth
Hughes in the People
Company (the
Review Subject
“Company”). TheMatter
Company’s (the “People Criteria”).
management Our responsibility
is responsible is to express
for preparing a conclusion
and presenting on the People
the People Review
Review Subject Matter based on our review.
Subject Matter in accordance with the Methodology and related Glossary of Terms set forth in the People
Review Subject Matter (the “People Criteria”). Our responsibility is to express a conclusion on the People
Our
Reviewreview was conducted
Subject Matter based in accordance
on our review. with attestation standards established by the American Institute of
Certified Public Accountants in AT-C section 105, Concepts Common to All Attestation Engagements, and
AT-C section
Our review was210, Review Engagements.
conducted in accordance with Those standards
attestation require that
standards we plan and
established perform
by the the review
American Instituteto of
obtain limited assurance about whether any material modifications should
Certified Public Accountants in AT-C section 105, Concepts Common to All Attestation Engagements, and be made to the People Review
Subject
AT-C sectionMatter210,
in order
Review for Engagements.
it to be in accordance with the criteria.
Those standards requireThe thatprocedures
we plan and performed in a review
perform the review to vary in
nature and timing
obtain limited from, and
assurance aboutarewhether
substantially less in extent
any material than, anshould
modifications examination,
be made thetoobjective
the People of which
Review is to
obtain
Subjectreasonable
Matter in orderassurancefor it toabout
be inwhether
accordance the People
with theReview
criteria.Subject Matter is in
The procedures accordance
performed in awith
reviewthe vary in
criteria,
nature and in all material
timing from, respects,
and are in order to express
substantially less inan opinion.
extent than, Accordingly, we dothe
an examination, notobjective
express of such
whichan opinion.
is to
Because of the limited nature of the engagement, the level of assurance
obtain reasonable assurance about whether the People Review Subject Matter is in accordance with the obtained in a review is substantially
lower than
criteria, thematerial
in all assurance that would
respects, have
in order to been
express obtained had an
an opinion. examination
Accordingly, webeen performed.
do not We believe
express such that
an opinion.
the review evidence obtained is sufficient and appropriate to provide a reasonable
Because of the limited nature of the engagement, the level of assurance obtained in a review is substantially basis for our conclusion.
lower than the assurance that would have been obtained had an examination been performed. We believe that
We review
the are required
evidence to be independent
obtained and toand
is sufficient meet our other ethical
appropriate to provideresponsibilities
a reasonable in basis
accordance
for our with relevant
conclusion.
ethical requirements related to the engagement.
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant
The procedures
ethical requirements we performed
related to were based on our professional judgment and consisted primarily of inquiries of
the engagement.
management to obtain an understanding of the methodology and inputs used in deriving the People Review
Subject
The Matter, recalculating
procedures we performeda were selection
basedof the
on our People Review Subject
professional judgment Matter based on primarily
and consisted the People of Criteria
inquiriesandof
inputs identified by management, and performing analytical procedures.
management to obtain an understanding of the methodology and inputs used in deriving the People Review
Subject Matter, recalculating a selection of the People Review Subject Matter based on the People Criteria and
Exceptidentified
inputs to the extent stated in our Independent
by management, and performing Accountants’ Report on the GHG Examination Subject Matter,
analytical procedures.
GHG Review Subject Matter and Waste Review Subject Matter, our review was limited to the People Review
Subjectto
Except Matter presented
the extent statedininthe ourReport. The Report
Independent includes Report
Accountants’ other information
on the GHG and metrics thatSubject
Examination were not Matter,
subject to our review procedures. Accordingly, we do not express an opinion,
GHG Review Subject Matter and Waste Review Subject Matter, our review was limited to the People Review conclusion, or any other form of
assurance on such information or metrics.
Subject Matter presented in the Report. The Report includes other information and metrics that were not
subject to our review procedures. Accordingly, we do not express an opinion, conclusion, or any other form of
Based on our
assurance on review, we are notoraware
such information of any material modifications that should be made to the People
metrics.
Review Subject Matter as of and for the year ended December 31, 2022, in order for it to be in accordance with
the People
Based on ourCriteria.
review, we are not aware of any material modifications that should be made to the People
Review Subject Matter as of and for the year ended December 31, 2022, in order for it to be in accordance with
the People Criteria.

May 24, 2023

KPMG LLP, a Delaware limited liability partnership and a member firm of
the KPMG global organization of independent member firms affiliated with
B-4 Baker Hughes TOC | Letters | By theKPMG
Numbers | Limited,
International Abouta private
Baker Hughes
English company |limited
Sustainability
by guarantee. | People | Planet | Principles | Appendices
Statement and Notes on Selected People Metrics
METRIC CRITERIA 1 KEY PERFORMANCE INDICATORS (KPI) 2 2022 3 METHODOLOGY

Number of all effective employees, including

employees terminated during the year ended in
Professional December 31, 2022, who completed a professional
development Management # of employees completing professional development touchpoint and evidenced and
45,454
planning with metric development planning with their manager. recorded in HR enterprise system for review period
manager (which includes annual priority setting, ongoing
touchpoints, or annual performance and career
development review).
% of employees receiving regular
performance and career development 75.0%
reviews.
% of employees receiving regular
performance and career development 72.8% Number of eligible effective employees who have
reviews by gender – Men. completed the annual performance and career
% of employees receiving regular development review divided by total number of
performance and career development 84.0% eligible effective employees.
reviews by gender – Women.
Number of eligible effective employees who have
% of employees receiving regular
completed the annual performance and career
performance and career development 31.0%
development review in respective gender category
reviews by gender - Gender undeclared.
divided by total number of eligible effective
% of employees receiving regular employees in respective gender category.
performance and career development 100.0%
reviews by gender - No gender selected. Number of eligible effective employees who
have completed the annual performance and
% of employees receiving regular
career development review in respective career
performance and career development
Regular 95.8% band divided by total number of eligible effective
reviews by career band - Professional band
performance employees in respective career band.
and above (PB+).
and career GRI 404-3
% of employees receiving regular Number of eligible effective PB+ employees who
development
performance and career development have completed the annual performance and career
reviews 95.8%
reviews by career band - Senior Professional development review in respective gender category
Band (SPB+). divided by total number of eligible effective PB+
% of Executive Band (EB+) employees employees in respective gender category.
receiving regular performance and career 94.1% Number of eligible effective PB+ employees who
development reviews. have completed the annual performance and
% of PB+ employees receiving regular career development review in respective job function
performance and career development 96.0% divided by total number of eligible effective PB+
reviews by gender – Men. employees in respective job function. For purposes
% of PB+ employees receiving regular of this metric, eligible effective employees exclude
performance and career development 95.3% employees on leave and those hired after October 1,
reviews by gender – Women. 2022. Leadership Training Band is not included in PB+
% of PB+ employees receiving regular for 2022 because they follow their own performance
performance and career development 88.9% management process.
reviews by gender - Gender undeclared.
% of PB+ employees receiving regular
performance and career development 100.0%
reviews by gender - No gender selected.

% of PB+ employees receiving regular

performance and career development 93.4%
reviews by job function – Commercial.
% of PB+ employees receiving regular
performance and career development 95.3%
Regular reviews by job function – Enabling.
performance % of PB+ employees receiving regular
and career GRI 404-3 performance and career development 95.5%
development reviews by job function – Production.
reviews % of PB+ employees receiving regular
performance and career development 97.8%
reviews by job function – Technical.
% of PB+ employees receiving regular
performance and career development 0.0%
reviews by job function – Other.
# of employees participating in leadership
527
development programs.
Number of participants in leadership development
# of employees participating in each
300 programs including ASPIRE (early career leadership
leadership development program – ASPIRE.
program), IMPACT (mid-career leadership program),
# of employees participating in each CULTIVATE (mid-career leadership program for
32
leadership development program – IMPACT. women), and ASCEND (military transition program)
Employees # of employees participating in each who were part of the program as of December 31,
Management
in leadership leadership development programs – 191 2022.
metric
programs CULTIVATE.
# of employees participating in each
4 Number of participants in each ASPIRE, IMPACT,
leadership development program – ASCEND.
CULTIVATE, and ASCEND programs. Number of
# of ASPIRE program participants that identify participants who identify as women for ASPIRE and
155
as women. IMPACT.
# of IMPACT program participants that
16
identify as women.
Baker Hughes has identified job groups as STEM roles
consistent with roles defined by US Bureau of Labor
Women in STEM Management Statistics.
% of women in STEM roles. 12.1%
roles metric Number of effective employees who identify as
women and who are in STEM roles divided by all
effective employees in STEM roles.

Total amount of charitable pledges and Number of self-reported volunteer hours completed
$75,272,787
contributions (USD). during FY 2022 by active full-time employees.
Amount of employee-matched contributions Amount of employee-matched contributions paid by
$756,121
made by the Baker Hughes Foundation (USD). the Baker Hughes Foundation.

Amount of company and foundation Amount of company and foundation financial

$1,992,500
financial pledges and contributions (USD)4. pledges and contributions. 2022 financial pledges
and contributions based on Baker Hughes Foundation
Amount of company in-kind contributions
Community Management $72,524,166 financial pledges and contributions only.
(USD)5.
contributions metric
Amount of company in-kind contributions. In-kind value
is calculated by looking at product sales price of in-kind
donations. Company in-kind contributions represent
OFSE business segment software licenses only.
# of volunteer service hours. 27,181
Total amount of charitable pledges and contributions
(sum of employee-matched contributions, foundation
financial pledges and contributions, company in-kind
contributions).
% of US employees who identify as people of
36.1%
color.
Number of effective employees in US who identify as
% of US employees who identify as people of
75.4% people of color divided by total number of effective
color by gender – Men.
employees in US as of year-end.
% of US employees who identify as people of
24.6% Number of effective employees in US who identify as
color by gender – Women.
US employees - GRI 405-1, people of color (PoC) and are in respective seniority
people of color Management % of US employees who identify as people of divided by total number of effective employees in US
0.0%
(PoC) Metric color by gender - Gender undeclared. who are in respective seniority.
% of US employees who identify as people of Number of effective employees in US who identify as
color by seniority - Senior Professional Band 32.1% people of color in respective gender category divided
and above (SPB+). by total number of effective employees in US who
% of US employees who identify as people of identify as people of color.
color by seniority - Executive Band and above 28.6%
(EB+).
Number of effective employees who were voluntarily
# of total employee attrition. 6,609 or involuntarily terminated in FY 2022.

Number of effective employees who were terminated

# of total employee attrition by gender – divided by the average monthly effective employee
5,291
Men. count for FY 2022.

# of total employee attrition by gender – Number of effective employees in respective

1,274
Women. gender category who were terminated divided by
the average monthly effective employee count in
# of total employee attrition by gender - respective gender category for FY 2022.
44
Employee Gender undeclared.
GRI 401-1 Number of effective employees in respective age
attrition
group who were terminated divided by the average
% of total employee attrition (rate). 12.0%
monthly effective employee count in respective age
group for FY 2022.
% of total employee attrition (rate) by gender
12.0% Number of effective employees in respective region
– Men.
who were terminated divided by the average monthly
effective employee count in respective region for FY
% of total employee attrition (rate) by gender 2022.
12.1%
– Women. Employees are counted more than once if they are
hired or terminated more than once in the same year.

4 2022 financial contributions based on Baker Hughes Foundation financial contributions only.
5 Company in-kind contributions represent OFSE operating segment software license donations only.

% of total employee attrition (rate) by gender

16.5%
- Gender undeclared.
# of total employee attrition by region - Asia
647
Pacific (APAC).
# of total employee attrition by region -
Russia and Commonwealth of Independent 1,019
States (RCIS).
# of total employee attrition by region -
909
Middle East and North Africa (MENAT).
# of total employee attrition by region -
1,990
North America (NAM).
# of total employee attrition by region -
505
Latin America (LATAM).
# of total employee attrition by region -
67
Sub-Saharan Africa (SSA).
# of total employee attrition by region –
1,472
Europe.
% of total employee attrition (rate) by region
9.4%
- Asia Pacific (APAC).
% of total employee attrition (rate) by region
- Russia and Commonwealth of Independent 34.9%
Employee States (RCIS).
GRI 401-1
attrition % of total employee attrition (rate) by region
9.9%
- Middle East and North Africa (MENAT).

% of total employee attrition (rate) by region

15.0%
- North America (NAM).

% of total employee attrition (rate) by region

9.1%
- Latin America (LATAM).

% of total employee attrition (rate) by region

7.1%
- Sub-Saharan Africa (SSA).
% of total employee attrition (rate) by region
9.1%
– Europe.
# of total employee attrition by age group -
1,088
under 30.
# of total employee attrition by age group -
4,247
30-50.
# of total employee attrition by age group -
1,274
over 50.
% of total employee attrition (rate) by age
19.1%
group - under 30.
% of total employee attrition (rate) by age
11.1%
group - 30-50.
% of total employee attrition (rate) by age
11.6%
group - over 50.

# of voluntary attrition. 4,714

# of voluntary attrition by gender – Men. 3,739

# of voluntary attrition by gender – Women. 974

# of voluntary attrition by gender - Gender
1
undeclared.
% of voluntary attrition (rate). 8.6%
% of voluntary attrition (rate) by gender –
8.5%
Men.
% of voluntary attrition (rate) by gender –
9.3%
Women.
% of voluntary attrition (rate) by gender -
0.4%
Gender undeclared.
# of voluntary attrition by region -
556
Asia Pacific (APAC). Number of effective employees who were voluntarily
# of voluntary attrition by region - Russia terminated in FY 2022.
and Commonwealth of Independent States 391
Number of effective employees who were voluntarily
(RCIS).
terminated divided by the average monthly effective
# of voluntary attrition by region - employee count for FY 2022.
657
Middle East and North Africa (MENAT).
Number of effective employees in each gender
# of voluntary attrition by region - category who were voluntarily terminated divided
1,608
North America (NAM). by the average monthly effective employee count in
# of voluntary attrition by region - each gender category for FY 2022.
363
Voluntary Management Latin America (LATAM).
attrition Metric Number of effective employees in each age group
# of voluntary attrition by region -
49 who were voluntarily terminated divided by the
Sub-Saharan Africa (SSA).
average monthly effective employee count in each
# of voluntary attrition by region – Europe. 1,090 age group for FY 2022.
% of voluntary attrition (rate) by region - Number of effective employees in each region who
8.1%
Asia Pacific (APAC). were voluntarily terminated divided by the average
% of voluntary attrition (rate) by region - monthly effective employee count in each region for
Russia and Commonwealth of Independent 13.4% FY 2022.
States (RCIS).
Employees are counted more than once if they are
% of voluntary attrition (rate) by region - hired or terminated more than once in the same year.
7.2%
Middle East and North Africa (MENAT).
% of voluntary attrition (rate) by region -
12.1%
North America (NAM).
% of voluntary attrition (rate) by region -
6.5%
Latin America (LATAM).
% of voluntary attrition (rate) by region -
5.2%
Sub-Saharan Africa (SSA).
% of voluntary attrition (rate) by region –
6.7%
Europe.
# of voluntary attrition by age group -
858
under 30.
# of voluntary attrition by age group - 30-50. 3,082
# of voluntary attrition by age group - over
774
50.
% of voluntary attrition (rate) by age group -
15.1%
under 30.
% of voluntary attrition (rate) by age group -
8.0%
30-50.
% of voluntary attrition (rate) by age group -
7.1%
over 50.

# of internal candidates hired. 4,983

# of internal candidates hired by gender – Men. 3,734

# of internal candidates hired by gender –
1,247
Women.
# of internal candidates hired by gender -
1
Gender undeclared.
# of internal candidates hired by gender -
1
No gender selected.
# of internal candidates hired by region -
478
Asia Pacific (APAC).
# of internal candidates hired by region -
Russia and Commonwealth of Independent 84
States (RCIS).
# of internal candidates hired by region -
781
Middle East and North Africa (MENAT).
# of internal candidates hired by region - Number of external candidates hired. Number of
1,615 external candidates by respective gender who were
North America (NAM).
hired. Number of external candidates by respective
# of internal candidates hired by region -
428 age group who were hired. Number of external
Latin America (LATAM).
candidates by respective region who were hired.
New # of internal candidates hired by region -
63 Number of internal candidates hired. Number of
candidates GRI 401-1 Sub-Saharan Africa (SSA).
internal candidates by respective gender who were
hired # of internal candidates hired by region – Europe. 1,534 hired. Number of internal candidates by respective
# of internal candidates hired by age group age group who were hired. Number of internal
807
- under 30. candidates by respective region who were hired.
# of internal candidates hired by age group Employees are counted more than once if they are
3,702
- 30-50. hired or terminated more than once in the same year.
# of internal candidates hired by age group
474
- over 50.
# of external candidates hired. 10,733

# of external candidates hired by gender – Men. 7,182

# of external candidates hired by gender –
2,377
Women.
# of external candidates hired by gender -
1,174
Gender undeclared.
# of external candidates hired by region -
1,166
Asia Pacific (APAC).
# of external candidates hired by region -
Russia and Commonwealth of Independent 247
States (RCIS).
# of external candidates hired by region -
1,707
Middle East and North Africa (MENAT).
# of external candidates hired by region -
3,157
North America (NAM).
# of external candidates hired by region -
1,437
Latin America (LATAM).
# of external candidates hired by region -
189
Sub-Saharan Africa (SSA).

# of external candidates hired by region – Europe. 2,830

# of external candidates hired by age group
3,515
- under 30.
# of external candidates hired by age group
6,353
- 30-50.
# of external candidates hired by age group
865
- over 50.

% of employees by gender – Men. 78.8%

% of employees by gender – Women. 19.1%

% of employees by gender - Gender
2.1%
Undeclared.
% of employees by gender - No gender
0.0%
selected.
% of employees by gender for each job
75.6%
function - Commercial and Men.

% of employees by gender for each job

49.0%
function - Enabling and Men.

% of employees by gender for each job

88.2%
function - Production and Men.

% of employees by gender for each job

78.7%
function - Technical and Men.
% of employees by gender for each job
4.2%
function - Other and Men.
% of employees by gender for each job Number of effective employees in respective gender
24.4%
function - Commercial and Women. divided by total number of effective employees.
% of employees by gender for each job Number of effective employees in respective seniority
51.0%
function - Enabling and Women. and gender divided by total effective employees in
% of employees by gender for each job respective seniority.
11.7%
function - Production and Women. Number of effective employees in respective function
Employees by % of employees by gender for each job and gender divided by total effective employees in
GRI 405-1 21.3%
gender function - Technical and Women. respective job function.

% of employees by gender for each job Number of effective employees designated as people
0.5% manager of respective gender divided by total
function - Other and Women.
effective employees designated as people manager.
% of employees by gender for each job
function - Commercial and Gender 0.0% Number of employees on Board of Directors who
Undeclared. identify as women divided by total number of Board
% of employees by gender for each job of Directors.
0.0%
function - Enabling and Gender Undeclared.
% of employees by gender for each
job function - Production and Gender 0.0%
Undeclared.
% of employees by gender for each job
0.0%
function - Technical and Gender Undeclared.

% of employees by gender for each job

95.3%
function - Other and Gender Undeclared.
% of employees by gender for each job
function - Production and No gender 0.0%
selected.
% of employees by gender for each seniority
81.4%
- SPB+ and Men.
% of employees by gender for each seniority
18.6%
- SPB+ and Women.

% of employees by gender for each seniority

0.0%
- SPB+ and Gender undeclared.

% of employees by gender for each seniority

75.6%
- EB+ and Men.
% of employees by gender for each seniority
24.4%
- EB+ and Women.
% of employees by gender for each seniority
0.0%
- EB+ and Gender undeclared.
% of employees that are people managers by
79.2%
Employees by gender – Men.
GRI 405-1
gender % of employees that are people managers by
18.8%
gender – Women.
% of employees that are people managers by
2.0%
gender - Gender undeclared.

% of employees that are people managers by

0.0%
gender - No gender selected.
% of women-identifying employees on Board
33.0%
of Directors.
% of employees by age group - under 30. 10.2%

% of employees by age group - 30-50. 69.4%

% of employees by age group - over 50. 20.4%

% of employees by age group - Age group
0.0%
left blank.
% of employees by age group for each job
6.1%
function - under 30 and Commercial.

% of employees by age group for each job

10.9%
function - under 30 and Enabling.

% of employees by age group for each job

11.0%
function - under 30 and Production.

% of employees by age group for each job

10.1% Number of effective employees in respective age
function - under 30 and Technical.
group, divided by total effective employees.
% of employees by age group for each job
0.9% Number of effective employees in respective age
function - under 30 and Other.
Employees by group and job function divided by total effective
GRI 405-1 % of employees by age group for each job
age group 68.8% employees in respective job function.
function - 30-50 and Commercial.
Number of effective employees in respective age
% of employees by age group for each job group and seniority divided by total effective
69.4%
function - 30-50 and Enabling. employees in respective seniority.
% of employees by age group for each job
68.9%
function - 30-50 and Production.

% of employees by age group for each job

68.2%
function - 30-50 and Technical.

% of employees by age group for each job

97.6%
function - 30-50 and Other.

% of employees by age group for each job

25.2%
function - over 50 and Commercial.

% of employees by age group for each job

19.7%
function - over 50 and Enabling.

% of employees by age group for each job

20.1%
function - over 50 and Production.

% of employees by age group for each job

21.7%
function - over 50 and Technical.

% of employees by age group for each job

1.5%
function - over 50 and Other.

% of employees by age group for each job

0.0%
function - Age group blank and Production.

% of employees by age group for each

0.3%
seniority - under 30 and SPB+.
Employees by % of employees by age group for each
GRI 405-1 0.0%
age group seniority - under 30 and EB+.

% of employees by age group for each

67.4%
seniority - 30-50 and SPB+.
% of employees by age group for each
65.7%
seniority - 30-50 and EB+.
% of employees by age group for each
32.3%
seniority - over 50 and SPB+.

% of employees by age group for each

34.3%
seniority - over 50 and EB+.

# of employees entitled to parental leave. 50,283

# of employees entitled to parental leave by
39,824
gender – Men.
# of employees entitled to parental leave by
10,440
gender – Women.
Total number of effective employees entitled to
# of employees entitled to parental leave by parental leave.
13
gender - Gender Undeclared.
Number of effective employees entitled to parental
# of employees entitled to parental leave by leave by gender.
6
gender - No gender selected.
Number of U.S. effective employees with an approved
# of US employees that took parental leave. 300 leave for maternity and/or parental that have been
# of US employees that took parental leave approved.
90
by gender – Women. Number of U.S. effective employees with an approved
Parental leave GRI 401-3
# of US employees that took parental leave leave for maternity and/or parental that have been
210
by gender – Men. approved by gender.
# of US employees that returned from leave Number of U.S. effective employees with approved
237
in the reporting period following leave. leave for maternity and/or parental that have
# of US employees that returned from leave returned to work in FY 2022.
in the reporting period following leave by 76 Number of U.S. effective employees with approved
gender – Women. leave for maternity and/or parental that have
# of US employees that returned from leave returned to work in FY 2022 by gender.
in the reporting period following leave by 160
gender - Men.
# of US employees that returned from leave
in the reporting period following leave by 1
gender - No gender selected.
# of employees enrolled in at least one Total number of active employees enrolled in at least
8,099
Employee employee resource group. one employee resource group as of December 31,
Management
resource group 2022. Total number of active employees enrolled in at
metric % of employees enrolled in at least one
membership 14.4% least one employee resource group as of December
employee resource group.
31, 2022 divided by total number of active employees.

% of employees by generation group –

0.0%
Greatest.
% of employees by generation group – Silent. 0.0%
% of employees by generation group –
7.5%
Boomers.
Employees by % of employees by generation group -
Management 36.4% Number of effective employees by generation group
generation Generation X.
metric divided by total effective employees.
group % of employees by generation group -
51.3%
Generation Y.
% of employees by generation group -
4.9%
Generation Z.
% of employees by generation group -
0.0%
Generation left blank.
# of employees working outside the United Number of effective employees that are working
42,442
States. outside of the US as of December 31, 2022.
Country Management
# of countries with employees. 89 Number of countries with effective employees.
representation metric
Number of nationalities represented by effective
# of nationalities represented by employees. 157
employees, as self-reported in HR enterprise system.
Number of system recorded learning hours
completed divided by number of effective employees
as of December 31, 2022.

Number of system recorded learning hours

Average hours of training per employee7 37
completed in respective gender divided by number
of effective employees in respective gender as of
December 31, 2022.

Number of system recorded learning hours

completed in respective career band divided by
number of effective employees in respective career
band as of December 31, 2022.

Average hours Number of system recorded learning hours

Average hours of training per employee by
39 completed in respective job function divided by
of training gender – Men.
GRI 404-1 number of effective employees in respective job
per year per
employee6 function as of December 31, 2022.

Number of system recorded learning hours

completed in respective operating segment divided
by number of effective employees in respective
operating segment as of December 31, 2022.

Average training hours includes online and in person

training completed during FY 2022, for effective
Average hours of training per employee by employees as of December 31, 2022, which is recorded
30
gender – Women. in our enterprise learning management system.
The metric does not include training completions
maintained outside of the enterprise system and may
contain multiple course completions for the same
course by the same employee.

6 In 2022, estimated duration of each training is used for the calculation, or where an estimated duration is not available, we used the median duration of actual completions of the
training.
7 In 2022, we are more specifically representing hours by using estimated duration field in the learning management system for each respective course. Where the duration is blank/
empty we used the median duration hours of the Activity Type.

Average hours of training per employee by

6
gender - Gender undeclared.
Average hours of training per employee by
career band - Professional band and above 24
employees (PB+).
Average hours of training per employee by
career band - Senior Professional Band and 17
above employees (SPB+).
Average hours of training per employee by
career band - Executive Band and above 12
employees (EB+).
Average hours of training per employee by
operating segment - Industrial and Energy 18
Average hours Technology (IET).
of training Average hours of training per employee by
GRI 404-1
per year per operating segment - Oilfield Services and 51
employee6 Equipment (OFSE).
Average hours of training per employee by
18
operating segment – Headquarters.

Average hours of training per employee by

16
job function – Commercial.
Average hours of training per employee by
20
job function – Enabling.
Average hours of training per employee by
51
job function – Production.

Average hours of training per employee by

18
job function – Technical.
Average hours of training per employee by
5
job function – Other.

Gender Self-identified as men, women, undeclared or no gender selected in HR enterprise system.

Career band Company’s internal classification of various jobs depending on level of responsibility and contribution.

Career band including Professional Band, Lead Professional Band, Senior Professional Band, Executive Band, Senior
Executive Band, Vice President, Senior Vice President who are in office-based developing, supporting, applying, leading,
Professional Band and and shaping roles who are at professional, lead professional, or functional tactical positions.
above (PB+)
For 2022 metrics, Leadership Training Band is not included in PB+ because they follow their own performance
management process.
Senior Professional Career band including Senior Professional Band, Executive Band, Senior Executive Band, Vice President, Senior Vice
Band and above President who are in office-based applying, leading, and shaping roles and who are senior level managers, seasoned
(SPB+) managers, and specialized individual contributors requiring in-depth understanding of their business or function.
Executive Band and
Career band including Executive Band, Senior Executive Band, Vice President, Senior Vice President.
above (EB+)
People of color includes employees who identify as American Indian or Alaska Native, Asian, Black, or African American,
PoC Hispanic, or Latino, Native Hawaiian or other Pacific Islander, two or more races. This designation is self-reported in the
U.S..
Employee Resource Group. We have the following ERGs: Black Employee Network, Asian Pacific American Forum,
ERG
Enabled, LatinX, Multicultural, Pride@work, Veterans, Women’s Network.

FY 2022 Financial year counted from January 1st, 2022, to December 31st, 2022.

Effective employees All employees excluding interns, co-ops, trainees, apprentice, inactive employees and contingent workers.

Active employees All employees excluding employees on long-term leave of absence, inactive employees and contingent workers.

Company’s internal classification according to job family group (Commercial, Enabling, Production, Technical, and
Job function
Other). A summary of the jobs compassed by these job functions can be found on page 38.

Internal candidates An existing employee that filled an open internal position/requisition within the Company.

External candidates A person that is not an employee of the Company that was hired into an open position/requisition.

Entitled to parental Entitled to parental leave based on country eligibility criteria, utilizing the Baker Hughes country policies and/or statutory
leave regulations, whichever is more encompassing.
Primary and Company’s designation used for the parental leave benefit program to distinguish the amount of leave entitlement.
Secondary parent This is a self-designation by employee as primary or secondary.
Management roles/
Effective employees who are in a people leader role.
People manager
Seniority/senior roles references two specific groupings of effective employees in leadership, Senior Professional Band
Seniority
and above (as defined above) and Executive Band and above (as defined above).
All effective employees will be categorized into either the Part-Time category (employees with Time Type of Part Time
Employee time type
plus employees with Time Type of Full Time who are less than 1.0 FTE) and Full-Time category (employees with Time
category
Type of Full Time and 1.0 or greater FTE).
All effective employees are categorized into one of the following age groups: Under 30 years old, 30 – 50 years old, and
over 50 years old. Employees whose birthdate is not available will be categorized as age group left blank. Calculation
Age group
for age group will use age as whole numbers only considered as of 12/31/2022 (i.e. if employee is 50 years old and 6
days, employee will be in the 30-50 age group).
An identification of a person based on their status of belonging to a particular nation. This is self-identified by
Nationality
employees in the HR enterprise system.
All effective employees will be categorized into one of the following generation groups based on birth year: Silent (1928
through 1945), Baby Boomers (1946 through 1964), Generation X (1965 through 1979), Generation Y/Millennials (1980
Generation group
through 1995) and Generation Z (1996 through present); employees whose birth year is not available will be categorized
as generation group left blank.
A group of countries located in the same geographically specified area as determined by the company. Regions
Region include: Asia Pacific (APAC), Russia and Commonwealth of Independent States (RCIS), Middle East and North Africa
(MENAT), North America (NAM), Latin America (LATAM), Sub-Saharan Africa (SSA), and Europe.

Independent Accountants’ Report

To the Board of Directors and Management
Baker Hughes Company: Independent Accountants’ Report
To the Board of Directors and Management
We
Baker have examined the Scope 1 and Scope 2 greenhouse gas emissions data and related notes for the year
To the Hughes
ended Board ofCompany:
December Directors
31, 2022and in theManagement
accompanying Statements and Notes on Greenhouse Gas CO2e Emissions
Baker
(the Hughes
“GHG Company:of Baker Hughes Company (the “Company”) (the “GHG Examination Subject Matter”).
Statements”)
We have examined the Scope 1 and Scope 2 greenhouse gas emissions data and related notes for the year
We have
ended also reviewed:
December 31,the
2022 in the accompanying Statements and Notes ondata Greenhouse Gas CO2fore Emissions
We have examined Scope 1 and Scope 2 greenhouse gas emissions and related notes the year
(the
ended “GHG Statements”)
December 31, 2022 of Baker
in the Hughes
accompanying Company (the
Statements “Company”)
and Notes (theon “GHG Examination
Greenhouse Gas Subject
CO Matter”).
2e Emissions
•We have
the Scope
also 3 greenhouse gas emissions data and related notes for the year ended December 31, 2022 in
reviewed:
(the the
“GHGGHGStatements”)
Statementsof(the Baker “GHG HughesReview Subject (the
Company “Company”)
Matter”); and (the “GHG Examination Subject Matter”).
We have also reviewed:
• the ScopeStatement and Notes gas
3 greenhouse on Waste
emissions for the data year and ended
related December
notes for31, year (the
the2022 ended “Waste
DecemberReview 31,Subject
2022 in
Matter”).
the GHG Statements (the “GHG Review Subject Matter”); and
• the Scope 3 greenhouse gas emissions data and related notes for the year ended December 31, 2022 in
• the the Statement and Notes on Waste for the year ended December 31, 2022 (the “Waste Review Subject
These subject
Matter”). matters are(the
GHG Statements “GHG
included inReview
Appendix SubjectB of the Matter”);
Company’sand 2022 Corporate Sustainability Report (the
•“Report”).
the Statement and Notes on Waste for the year ended December 31, 2022 (the “Waste Review Subject
Matter”).
These subject matters are included in Appendix B of the Company’s 2022 Corporate Sustainability Report (the
The Company’s management is responsible for preparing and presenting the GHG Examination Subject Matter
“Report”).
These
in subject matters
accordance with the are included in
Greenhouse Gas Appendix
Protocol: B of the Company’s
A Corporate 2022 Corporate
Accounting and Reporting Sustainability
Standard,Report Revised(the
“Report”).
Edition and GHG Protocol Scope 2 Guidance: An amendment to the GHG Protocol Corporate Standard
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(collectively,
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procedures performed
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KPMG LLP , ato obtain
Delaware reasonable
limited liability partnership assurance about
and a member firm of
procedures performed in a review vary in nature and timing from, and are substantially less in extent than, whether the GHG Review Subject
an
the KPMG global organization of independent member firms affiliated with
examination, the objective of which is to obtain reasonable assurance about whether the GHG Review Subject
KPMG International Limited, a private English company limited by guarantee.

KPMG LLP, a Delaware limited liability partnership and a member firm of

the KPMG global organization of independent member firms affiliated with
B-18 Baker Hughes TOC | Letters | By the KPMG
Numbers | Limited,
International Abouta private
Baker Hughes
English company |limited
Sustainability
by guarantee.
KPMG LLP, a Delaware limited liability partnership and a member firm of
| People | Planet | Principles | Appendices
the KPMG global organization of independent member firms affiliated with
Matter and Waste Review Subject Matter are in accordance with the criteria, in all material respects, in order to
express an opinion. Accordingly, we do not express such an opinion. Because of the limited nature of the
engagements, the level of assurance obtained in the reviews is substantially lower than the assurance that
would have been obtained had examinations been performed. We believe that the review evidence we
obtained is sufficient and appropriate to provide a reasonable basis for our conclusions.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant
ethical requirements related to the engagements.

The procedures we performed in our reviews were based on our professional judgment and consisted primarily
of inquiries of management to obtain an understanding of the methodology and inputs used in deriving the
GHG Review Subject Matter and Waste Review Subject Matter, recalculating a selection of the GHG Review
Subject Matter and Waste Review Subject Matter based on the methodologies and inputs identified by
management, and performing analytical procedures.

Except to the extent stated in our Independent Accountants’ Review Report on the People Review Subject
Matter, our examination was limited to the GHG Examination Subject Matter presented in the Report and our
reviews were limited to the GHG Review Subject Matter and Waste Review Subject Matter presented in the
Report. The Report includes other information and metrics that were not subject to our examination or review
procedures. Accordingly, we do not express an opinion, conclusion, or any other form of assurance on such
information or metrics.

As described in the GHG Statements and Statement and Notes on Waste, energy use data and waste volume
are subject to measurement uncertainties resulting from limitations inherent in the nature of and methods used
for determining such data. Obtaining sufficient appropriate examination evidence to support our opinion and
sufficient appropriate review evidence to support our conclusions does not reduce the inherent uncertainty in
the data. The selection by the Company’s management of different but acceptable measurement techniques
could have resulted in materially different measurements.

As described in Note 2 of the GHG Statements, the Company has recalculated its 2019 Scope 1, 2, and 3
emissions to account for structural changes, boundary enhancement, and enhancements in methodology and
data, in accordance with the GHG Protocol.

In our opinion, the GHG Examination Subject Matter of the Company for the year ended December 31, 2022 is
presented in accordance with GHG Protocol Corporate Standard, in all material respects.

Based on our reviews, we are not aware of any material modifications that should be made to the GHG Review
Subject Matter or the Waste Review Subject Matter for the year ended December 31, 2022, in order for them to
be in accordance with the GHG Protocol Scope 3 Standard and the Waste Criteria, respectively.

May 24, 2023

Total scope 1 Emissions 500,603 376,172

Total scope 2 Indirect Emissions - Location Based 295,317 210,902

Total scope 2 Indirect Emissions - Market Based 286,752 193,933

Total scope 1 and 2 Emissions - Market Based 787,355 570,105

Total reported scope 3 Emissions 188,223,561 252,414,204

Note 1 - Company
Baker Hughes Company ("Baker Hughes," "the Company," "we," "us," or "our") is an energy technology company with a diversified
portfolio of technologies and services that span the energy and industrial value chain. Built on a century of experience and
conducting business in over 120 countries, our innovative technologies and services are taking energy forward.

The Statements and Notes on Greenhouse Gas (GHG) CO2e Emissions have been prepared based on reporting year 2022, from
January 1, 2022, to December 31, 2022, corresponding to the Baker Hughes Company fiscal year. The Statements and Notes on
GHG CO2e emissions also include emissions data from base year 2019 (January 1, 2019, to December 31, 2019), corresponding to
the Company’s fiscal year.

The Statements and Notes on GHG CO2e Emissions do not include 2020-2021 emissions data since recalculated GHG CO2e
emissions data for all years between the base year and the reporting year is optional, as noted in the World Resources Institute
(WRI)/ World Business Council for Sustainable Development (WBCSD) Greenhouse Gas Protocol: A Corporate Accounting and
Reporting Standard, Revised Edition.

Scope 1
GHG CO2e emissions information has been prepared in accordance with the WRI/WBCSD Greenhouse Gas Protocol: A Corporate
Accounting and Reporting Standard, Revised Edition. Scope 1 represents direct GHG CO2e emissions that occur from sources
that are owned or controlled by Baker Hughes.

• Scope 1, facilities: Where fuel quantity is known, stationary combustion source methodology is used as described in the EPA
Mandatory Reporting Rule, 40 CFR Part 98 Subpart C based on actual purchases during the year. Where fuel quantity is
unknown, estimation methodology is based on size of occupied space and type of operation using the US Energy Information
Administration (EIA) Commercial Buildings Energy Consumption Survey (CBECS) data.

• Scope 1, field activities: Where fuel quantity is known, stationary combustion source methodology is used as described in the
EPA Mandatory Reporting Rule, 40 CFR Part 98 Subpart C based on actual purchases during the year, or actual consumption
in instances where fuel was not purchased. Where fuel quantity is unknown, fuel quantity is calculated using known fuel
purchase records, operating hours and an average hourly consumption rate for field equipment.

• Scope 1, vehicles and marine vessels: Where fuel quantity is known or based on fixed usage contracts, mobile combustion
source methodology is as described in the EPA Center for Corporate Climate Leadership GHG Inventory Guidance on Direct
Emissions from Mobile Combustion Sources. Where vehicle fuel quantity is unknown, estimation methodology is based on
regional averages of similar vehicles with known fuel usage.

B-20 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Scope 2
GHG CO2e emissions information has been prepared in accordance with the WRI/WBCSD GHG Protocol Corporate Standard
and GHG Protocol Scope 2 Guidance: An amendment to the GHG Protocol Corporate Standard. Scope 2 accounts for GHG CO2e
emissions from the generation of purchased electricity consumed by the Company.

• Scope 2, facilities: Emissions are calculated from electricity use with EPA eGRID, Canada National Inventory, and International
Energy Agency emission factors based on actual purchases during the year. Location-based emissions are calculated using
these grid factors by location for our global facility portfolio. We also calculate market-based emissions based on electricity
procurement decisions and details including contracts, renewable energy certificates (RECs) in the US, and renewable
energy guarantees of origin (REGOs) in the UK and European Union. European residual mix factors are used where REGOs are
unavailable. Where electricity use data is unavailable, estimation methodology involves calculation of energy use based on
square footage and facility type using the EIA CBECS data.
• Scope 2, remote work: Emissions associated with remote work are included in scope 2. We take this approach to
counterbalance reduced emissions resulting from fewer office-based employees working on-site at our facilities since the
COVID-19 pandemic. The Company continues to offer flexible work arrangements to our global employees and remote
working has continued at a somewhat lower rate. Emissions from home office electricity use were assessed in a Baker
Hughes-specific Home Office study. The study assessed the actual electricity use by volunteer employee participants and
calculated the corresponding emissions using IEA Emission Factors.

Scope 3
GHG CO2e emissions information has been prepared in accordance with the WRI/WBCSD GHG Protocol: Corporate Value
Chain (scope 3), Accounting and Reporting Standard. Scope 3 includes indirect GHG CO2e emissions (not included in scope 2)
that occur in the value chain of the Company, including both upstream and downstream emissions categories listed in Notes 7
and 8.

Collectively, the WRI/WBCSD GHG Protocol: A Corporate Accounting and Reporting Standard, Revised Edition, the GHG Protocol
Scope 2 Guidance: An amendment to the GHG Protocol Corporate Standard and the GHG Protocol: Corporate Value Chain
(scope 3), Accounting and Reporting Standard are referred to as the “GHG Protocol” in this document.

Estimation uncertainties
The Company obtains energy use data from across our global operations for the calculation of our GHG inventory in
accordance with the GHG Protocol. However, there are estimation uncertainties resulting from the limitations inherent in the
methodologies used to calculate energy and emissions for the subset of facilities and activities where actual use data is not
available. These methodologies are described within the Statements and Notes on GHG CO2e Emissions for scope 1, 2 and 3
emissions categories. The selection by the Company's management of different but acceptable measurement techniques
could have resulted in materially different measurements.

Note 2 – GHG reporting inventory boundaries

The Company presents its emissions under the operational control approach, accounting for emissions from operations over
which it, or one of its subsidiaries, has the full authority to introduce and implement its operating policies. We exclude minority
owned joint ventures not operated by the Company.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes B-21
Operational boundaries
Scope 1 and 2 Operational boundaries: We include scope 1 emissions from the combustion of fuels on-site at our facilities,
including natural gas, distillate, gasoline, kerosene, propane, residual fuel oil, and hydrofluorocarbons (HFCs). Scope 1 also
includes offsite activities associated with transportation in our company vehicle fleet and field activities related to stimulation
work carried out on marine vessels, pressure pumping operations, integrated well services (IWS), and offshore wireline activities.

Scope 2 includes CO2e emissions from the purchase and self-generation of renewable and nonrenewable electricity used on-
site across our global facility portfolio. Emissions associated with remote work are also included in scope 2.

For both scope 1 and 2, the Company includes both owned and leased facilities, vehicles, and equipment. The Company
accounts for CO2e emissions from long-term leased assets (equipment, vehicles, and real estate) that are treated as wholly
owned assets in financial accounting and are recorded as such on the balance sheet. We account for emissions from all other
leased vehicles based on operational fleet management inventories. Facilities subleased to third parties are excluded and
scope 1 does not include emissions from process and pipeline services (PPS) because robust methods to calculate these are not
yet available.

Scope 3 operational boundaries:

Scope 3 includes:

• GHG Protocol category 1 – purchased goods and services.

• Category 2 - capital goods; We are now disclosing Category 2 based on improvements in data and methodology since our
2021 Corporate Responsibility report.
• Category 3 – fuel and energy related activities (not included in scope 1 and 2).
• Category 4 – shipments paid for by Baker Hughes and captured in transportation management systems.
• Category 5 – waste from operations.
• Category 6 – business travel.
• Category 7 – employee commuting.
• Category 9 – shipments not paid for by Baker Hughes.
• Category 11 – direct-use phase emissions from products and services.
• Category 15 – equity investments.

Base year
The GHG CO2e base year applies to scope 1, scope 2, and scope 3 emissions and has been prepared in accordance with the
GHG Protocol set out herein. The Company has established 2019 as the base year for scope 1, 2 and 3 as it best represents the
most recent year of business-as-usual operations prior to the COVID-19 pandemic. In accordance with the GHG Protocol, Baker
Hughes has established a policy to recalculate base year emissions based on a 5% cumulative significance threshold applied
to adjustments of scope 1, scope 2, and scope 3 categories individually for the current reporting year and base year. Significant
changes evaluated for recalculation include recent company structural changes, boundary enhancement, and enhancements
in methodology and data. The recalculation of our fixed-base year emissions is in accordance with the GHG Protocol’s “same-
year/all-year” approach. Adjustments to the scope 1 and 2 base year were made for:

1. Divestiture of two business units in 2022 for categories 3 and 5, which use scope 1 and 2 activity data.

2. Improvements in accounting methodology for facility emissions and scope 2 market-based emissions based on enhanced
data processing capabilities.

3. Improvements in data quality and estimation methodology for fleet emissions.

1. Divestiture of two business units in 2022 for categories 3 and 5.

2. Divestiture of three business units in 2021 for all categories except 3 and 5 which were adjusted in the prior year.

3. Acquisition of three business units in 2021 for all categories except category 3 which was adjusted in the prior year.

4. Improvements in accounting methodology for category 3.

5. Improvements in data quality for category 1.

6. Boundary change for category 11.

Greenhouse gases covered

Emissions data is provided in metric tonnes (MT) for each GHG separately in addition to the total of all GHGs. The GHG CO2e
emissions disclosed in the Statements and Notes on GHG CO2e Emissions include the following seven greenhouse gases: carbon
dioxide (CO2), methane (CH4), nitrous oxide (N2O), hydrofluorocarbons (HFCs), perfluorocarbons (PFCs), nitrogen trifluoride (NF3),
and sulfur hexafluoride (SF6).

Market-based approach
Carbon emissions can be reduced through energy efficiency and conservation measures and by increasing the use of zero
carbon or low-carbon energy sources. The market-based approach calculates the carbon emissions based on our electricity
procurement decisions which include the use of renewables and zero-emissions energy sources, such as nuclear. Details
including contracts, renewable energy certificates (RECs), and renewable energy guarantees of origin (REGOs) are used in
calculating market-based emissions. We apply energy attribute certificates (EACs) only to the electricity consumption of
specific facilities under the contract. Excess EACs are not applied to sites or regions other than those under contract. We use
market-based values to assess our performance against our stated emissions reduction goals in the current reporting year as
compared to our base year.

Global warming potentials

GHG CO2e emissions were calculated using the Global Warming Potentials (GWP) from the International Panel on Climate
Change (IPCC) Fifth Assessment Report (AR5 – 100 year). Where emission factors are published with AR4 GWP, we have adjusted
the factors to use AR5 for consistency across our inventory.

2019: -United States – Environmental Protection Agency (EPA) Emission Factors for
Greenhouse Gas Inventories (Table 1), March 26, 2020.

United States – Environmental Protection Agency (EPA), Inventory of U.S. Greenhouse

Gas Emissions and Sinks: 1990–2016 EPA 430-R-18-003, Annex 3.2.2022:
Distillate fuel,
Vehicle United States – Environmental Protection Agency (EPA) Emission Factors for
gasoline/petrol
Greenhouse Gas Inventories (Table 1), April 1, 2022.

United States – Environmental Protection Agency (EPA), Inventory of U.S. Greenhouse

Gas Emissions and Sinks: 1990–2019 EPA 430-R-21-005, Annexes to the Inventory of U.S.
GHG Emissions and Sinks, Table A-79, Table A-82 and Table A-83.

Field activities
2019: United States – Environmental Protection Agency (EPA) Emission Factors for
(Pressure
Greenhouse Gas Inventories (Table 1 and 5), March 26, 2020.
Scope 1 pumping, wireline, Distillate fuel
integrated well 2022: United States – Environmental Protection Agency (EPA) Emission Factors for
services, and Greenhouse Gas Inventories (Table 1 and 5), April 1, 2022.
marine vessels)

2019: United States – Environmental Protection Agency (EPA) Emission Factors for
Greenhouse Gas Inventories (Table 1), March 26, 2020.

2022: United States – Environmental Protection Agency (EPA) Emission Factors for
Natural gas, distillate,
Greenhouse Gas Inventories (Table 1), April 1, 2022.
gasoline, kerosene,
Facilities
LPG, propane, residual International Journal of Hydrogen Energy 46 – Global warming consequences of
fuel oil, HFCs replacing natural gas with hydrogen in the domestic energy sectors of future low-
carbon economies in the UK and USA, July 8, 2021.

California Air Resources Board, High GWP Refrigerants (https://ww2.arb.ca.gov/

resources/documents/high-gwp-refrigerants).

2019: United States – Environmental Protection Agency (EPA) eGRID 2018, March 9,
2020; 2019 Canada National Inventory Report 1990-2017, Annex 13-2 through 13-14,
2019; International Energy Agency (IEA) – IEA 2017 released 2019; Association of Issuing
Bodies, European Residual Mixes 2019, Version 1.1, August 9, 2020.
Facilities Electricity 2022: United States – Environmental Protection Agency (EPA) eGRID 2020, April 1,
Scope 2 2022; 2022 Canada National Inventory Report 1990-2020, Part 3, Annex 13, Table
A13-1 through Table A13-14; International Energy Agency (IEA) – IEA 2022 released
September 2022; Association of Issuing Bodies, European Residual Mixes 2021, Version
1.0, May 31, 2022.

2019: International Energy Agency (IEA) – IEA 2017 released 2019.

Remote work Electricity
2022: International Energy Agency (IEA) – IEA 2022 released September 2022.

Purchased goods and 2019: EXIOBASE 3 EE MRIO tables, Version 3.7, December 18, 2019.
Category 1
services 2022: EXIOBASE 3 EE MRIO tables, Version 3.8.2, October 21, 2021.

2019 & 2022: GHG Protocol and Quantis “Documentation of the data and calculations
Category 2 Capital goods to support the Greenhouse Gas Protocol Scope 3 Screening Tool”, last updated
Scope 3 February 2021.

Fuel- and energy

related activities (not GHG Protocol and Quantis “Documentation of the data and calculations to support
Category 3
included in scope 1 or the Greenhouse Gas Protocol Scope 3 Screening Tool”, last updated February 2021.
scope 2)

B-24 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
2019: DEFRA 2019. UK Government GHG Conversion Factors for Company Reporting
Upstream 2019, v 1. Freighting Goods Table.
Category 4 transportation and
distribution 2022: DEFRA 2022. UK Government GHG Conversion Factors for Company Reporting
2022, v 1. Freighting Goods Table.

2019: DEFRA 2019. UK Government GHG Conversion Factors for Company Reporting
Waste generated 2020, v 1. Waste Disposal Table.
Category 5
in operations 2022: DEFRA 2022. UK Government GHG Conversion Factors for Company Reporting
2022, v 1. Waste Disposal Table.

2019: United States - Environmental Protection Agency (EPA) Emission Factors for
Greenhouse Gas Inventories (Tables 2 and 10), March 26, 2020.

UK Government - DEFRA GHG Conversion Factors for Company Reporting (hotel stay,
Business travel- air, Business travel- land), 2019.

UK Government – DEFRA GHG Conversion Factors for Company Reporting (Business

travel - land), 2020.

Category 6 Business Travel 2022: UK Government - DEFRA GHG Conversion Factors for Company Reporting (hotel
stay, Business travel- air, Business travel- land), 2022.

United States - Environmental Protection Agency (EPA) Emission Factors for

Greenhouse Gas Inventories (Tables 2 and 10), April 1, 2022.

2019 and 2022:

India GHG Program 2015. v 1, Passenger Car Table, p. 9

Scope 3
US EPA Environmentally-Extended Input-Output (USEEIO) v1.1

2019: United States - Environmental Protection Agency (EPA) Emission Factors for
Greenhouse Gas Inventories (Table 10), March 26, 2020.

Employee 2022: United States - Environmental Protection Agency (EPA) Emission Factors for
Category 7
commuting Greenhouse Gas Inventories (Table 10), April 1, 2022.

UK Government - DEFRA GHG Conversion Factors for Company Reporting (Business

travel - Land).

Downstream
Category 9 transportation and 2019 and 2022: Same as Category 4.
distribution

International Energy Agency (IEA) – IEA 2019 released 2019.

International Energy Agency (IEA) – IEA 2022 released September 2022.

SimaPro 9.0.0.30 with Ecoinvent 3.5 database.

Category 11 Use of sold products United States - Environmental Protection Agency (EPA) Emission Factors for
Greenhouse Gas Inventories (Table 7), April 1, 2022.

IEA SDG7: Data and Projections,

"Energy intensity," April 2022.

GHG Protocol and Quantis “Documentation of the data and calculations to support
Category 15 Investments
the Greenhouse Gas Protocol Scope 3 Screening Tool”, last updated February 2021.

Total scope 1, scope 2 (market based) and scope 3 emissions per dollar of revenue for the year ended December 31, 2022. The
Company has established 2019 as the base year for scope 1, 2 and 3 as it best represents the most recent year of business-as-
usual operations prior to the COVID-19 pandemic.

2019 2022

Scope 1 per $ revenue 0.000021 0.000018

Scope 2 per $ revenue 0.000012 0.000009

Scope 3 per $ revenue 0.007896 0.011931

Total per $ revenue 0.007929 0.011958

Total revenue (millions USD) $23,838 $21,156

Note 4 - CO2e Emissions data by GHG

GHG Emissions by gas

Emissions data for all seven GHGs in metric tonnes and in tonnes of CO2e include only scope 1 and 2 emissions.

IN MT CO 2E

CO2 CH4 N2O HFCs PFCs NF3 SF6

Scope 1 370,644 4,613 908 7 0 0 0

Scope 2,
2022 209,987 326 589 N/A N/A N/A N/A
Location-Based Approach
Scope 2,
193,239 233 461 N/A N/A N/A N/A
Market-Based Approach

IN ABSOLUTE MT GAS

CO2 CH4 N2O HFCs PFCs NF3 SF6

Scope 1 370,644 165 3 7 0 0 0

Scope 2,
2022 209,987 12 2 N/A N/A N/A N/A
Location-Based Approach
Scope 2,
193,239 8 2 N/A N/A N/A N/A
Market-Based Approach

Note 5 - Emissions data on direct or biogenic CO2 emissions from biologically

sequestered carbon
There are no emissions applicable to biologically sequestered carbon (e.g., CO2 from burning biomass or biofuels).

Note 6 - Information on offsets

It is the Baker Hughes sustainability policy to exhaust all carbon emissions reduction pathways prior to starting to use offsets.
Carbon offsets are not included in our short to mid-term net-zero roadmap (See Note 2, market-based approach).

2019 2022 NOTES

Includes spend related to purchased goods and services,

except for capital goods (Category 2), utilities (Category 3),
Purchased Goods
Category 1 4,602,303 5,718,784 logistics (Category 4), and business travel (Category 6). Spend
and Services
considered relates to raw materials, finished & semi-finished
goods, and services provided to the Company.
Includes emissions from the upstream production of Plant,
Category 2 Capital Goods 298,734 233,574 Property, & Equipment (PP&E) from the Company’s Fixed Asset
Registry.
Fuel- and Energy-
Related Activities Includes emissions from fuel and energy related activities not
Category 3 184,214 136,224
(not included in already accounted for in scope 1 and scope 2 emissions.
Scope 1 or 2)
Upstream Includes domestic and international third-party owned or
Category 4 Transportation 536,642 317,937 operated transportation via land, sea or air purchased by Baker
Upstream
and Distribution Hughes.
Scope 3
Includes emissions from the disposal of waste types, hazardous
emissions Waste Generated
Category 5 20,612 79,284 and non-hazardous waste, and disposal methods, such as
in Operations
Recycling, Landfill, or re-use.
Includes business travel booked within and outside Baker
Hughes' third-party booking system, and out-of-pocket
Category 6 Business Travel 100,624 56,454 business travel expenses. This includes business travel activities
such as air, rail, bus, automobiles (including employee owned
and rental cars), as well as hotel stays when employees travel.
Includes commuting emissions from active employees except
for Home Office emissions for employees who work remotely.
Employee
Category 7 151,941 101,404 This includes travel by personal vehicle, public transportation, or
Commuting
other zero emission methods. Optional Home Office emissions
are reported under scope 2.
Over 99% of emissions from the operation of leased assets are
Category 8 Leased Assets Not relevant Not relevant
included in scope 1 and 2, or scope 3 category 11.
Includes domestic and international third-party owned or
Transportation
Category 9 518,908 359,773 operated transportation related to Baker Hughes products, via
and Distribution
land, sea or air, purchased by value chain partners.
Processing of Sold
Category 10 insignificant insignificant Over 99% of Baker Hughes revenues are from finished goods.
Products
Includes in-use emissions from products and services sold
Use of Sold by Baker Hughes. These direct use-phase emissions originate
Category 11 181,576,472 244,794,528
Products from the combustion of fuel or consumption of electricity, and
leakage during the operation of sold products and services.
Down- Further engagement with customers is needed to understand
End-of-Life
stream how products are disposed/dispositioned. This also
Category 1 Treatment of Sold Not reported Not reported
Scope 3 complements our efforts in 2023 to advance the circular
Products
emissions economy.
Baker Hughes does not distinguish between products sold
Excluded Excluded
Category 13 Leased Assets and leased and therefore accounts for leased assets within
category category
category 11 - Use of Sold Products.
Category 14 Franchises Not relevant Not relevant Baker Hughes does not operate franchises.

Category 15 Investments 233,111 616,242 Includes equity investments which are not consolidated into
Baker Hughes financial statements. Certain equity investments
are not included as the Company is limited in its ability to collect
data.
Total scope 3 188,223,561 252,414,204
emissions

Description of scope 3 methodologies and data used

DESCRIPTION OF THE METHODOLOGIES, ALLOCATION

DESCRIPTION OF THE TYPES AND SOURCES OF DATA USED TO
METHODS, AND ASSUMPTIONS USED TO CALCULATE
CALCULATE EMISSIONS
EMISSIONS
Activity data The calculation uses the spend-based methodology.
(primary data) direct and indirect purchasing activity in Where spend cannot be mapped to a UNSPSC code,
the reporting year. emissions are estimated through extrapolation of
mapped spend.
Category 1, Emissions factors
Emissions = (spend by UNSPSC) x (mapped EEIO
Purchased (secondary data) cradle-to-gate emission factors for
factor).
goods and purchased goods and services were obtained from
services EXIOBASE3.

Description of the data quality of reported emissions Very Good

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Activity data The calculation uses the average spend-based
methodology and emission factors outlined in the
(primary data) PP&E purchasing activity in the reporting
GHG Protocol and Quantis “Documentation of the
year.
data and calculations to support the Greenhouse
Emissions factors Gas Protocol Scope 3 Screening Tool”, last updated
Category 2, (secondary data) emission factors from the Scope February 2021.
Capital goods 3 Quantis Evaluator Tool (ghgprotocol.org/scope-3- Emissions = (spend by category) x (Quantis emission
evaluator). factor).

Description of the data quality of reported emissions Very Good

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Upstream
Activity data The estimation uses average-data methodology, and
scope 3
emission factors outlined in the GHG Protocol and
emissions (primary data) scope 1 and scope 2 (market-based)
Quantis “Documentation of the data and calculations
emissions from the reporting year
to support the Greenhouse Gas Protocol Scope 3
Emissions factors Screening Tool”, last updated February 2021.
Category 3, Fuel
(secondary data) emission factors from the Scope Emissions = (total Scope 1 and 2 emissions) x (Quantis
and energy
3 Quantis Evaluator Tool (ghgprotocol.org/scope-3- emission factor)
related
evaluator)

Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Activity data
The calculation uses a combination of the distance-
(primary data) Details from the company’s transportation weight and spend-based methodology. Where
management system including the freight spend, origin distance-weight data is not available, freight spend is
and destination of the shipment, the mode of transport, used to extrapolate emissions.
and weight for domestic and international movements.
Category 4, Emissions = (emission factor by mode) x (distance of
Upstream Emissions factors movement x weight of shipment by mode).
transportation (secondary data) The emission factors are from DEFRA
and logistics Conversion Factors for Company Reporting, Freighting
Goods table for each mode of transport.

Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners

B-28 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Activity data The calculation uses the Waste-Type-Specific
(primary data) The quantities of hazardous, nonhazardous, methodology. Where data is unavailable (does not
recycled, and e-waste generated during operations were meet reporting threshold of 10,000 square feet facility
obtained from the Company’s’ HSE data management or some rental facilities), activity data is extrapolated
system. The data also includes the treatment methods considering region and facility type. For 2019, we back-
recycling, landfill, incineration with and without energy cast emissions based on 2022 waste quantities, the
Category recovery and others. 2019 DEFRA Conversion Factor, and 2019 revenue.
5, Waste
Emissions = (emission factor by waste type and
generated from Emissions factors
disposal method) x (amount of waste by type and
operations (secondary data) The emission factors are from the DEFRA
disposal method).
Conversion Factors for Company Reporting, Waste Disposal
table.

Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Activity data

(primary data) Distance per mode of transportation and

number of hotel nights Baker Hughes employees booked
in the reporting year is collected by Baker Hughes external
partners, namely our travel management partner and
preferred rental car providers.

(primary data) Distance travelled by personal use of car

for business travel as reported in Baker Hughes expense
management system.
Upstream The calculation uses the distance-based methodology
Emissions factors
scope 3 for travel, hotel stays, and spend-based methodology
emissions (secondary data) Emission factors for rental cars are from for expenses.
EPA by car class and Global Warming Potential (GWP)
Emissions = ∑ (distance travelled by vehicle type
values as reported within the IPCC Fifth Assessment Report.
(vehicle-km or passenger-km) × vehicle specific
(secondary data) Emission factors for hotel are from DEFRA emission factor (kg CO e/vehicle-km or kg CO e/
2 2
GHG Conversion Factors for Company Reporting – “Hotel passenger-km)) + ∑ (annual number of hotel nights
stay”. Where data is not available by country, an average (nights) × hotel emission factor (kg CO2e/night)) + (( ∑
emission factor is applied. (Expenses claimed for public transport) - ∑ (Expenses
Category 6,
Business travel (secondary data) Emission factors for air are from DEFRA’s covered by other reports)) x EEIO emission factor (kg
GHG Conversion Factors considering flight types (short haul, CO2e/$) ).
long-haul) and cabin class. Reports used for other travel expenses include reports
(secondary data) Emission factors for rail are from from third party travel vendors.
DEFRA’s GHG Conversion Factors considering national and
international rail.

(secondary data) Emission factors for personal cars used

for business travel are from country-specific sources. US –
EPA Emission Factors Hub; India

– India GHG Program; UK & all other countries – DEFRA

Conversion Factors.

(secondary data) Emission factor for public transportation

spend is from US EPA Environmentally-Extended Input-
Output (USEEIO) matrices.

Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

82%
from suppliers or other value chain partners

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes B-29
Activity data This calculation uses the average-data method, and
assumes an average distance travelled each day,
(primary data) Employee count from human capital
number of employees working from home, and 48
management system and direct employee commuting
working weeks in a year with a 5-day work week.
data (mode, distance, frequency) taken by a company
wide survey. Assumes car travel is representative of employee
commuting behaviors as other data is not available.
(secondary data) Estimated one-way commute miles
We aspire to improve the data quality in the future by
from U.S. DOT, Federal Highway Administration, 2010 Status
surveying our employee base.
of the Nation’s Highways, Bridges, and Transit: Conditions
Upstream Category 7,
& Performance (https://www.fhwa.dot.gov/policy/2010cpr/ Emissions = total distance travelled by vehicle type
scope 3 Employee
execsum.cfm for 2019, and https://www.fhwa.dot.gov/ x ∑ ((# Employees - # Employees Working Remotely)
emissions commuting
policyinformation/statistics/2020/vm1.cfm for 2021). x distance travelled from work to home / day (one-
way) x 2 x number of commuting days per year) OR
Emissions factors
Emissions = Distance travelled x Emission factor per
(secondary data) Emissions factors from EPA GHG vehicle type x frequency of commute. Only applicable
Emissions Factors Hub – Table 10 Scope 3 Category 6 and 7. to employees who responded to the survey.

Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Activity data

(secondary data) Category 4 emissions from upstream This calculation uses a combination of distance-based
transportation and distribution and estimated percentage and spend-based methods. Emissions are estimated
of Baker Hughes purchased shipments vs. third-party for Category 9 by extrapolating emissions from
Category 9, purchased shipments, based on Incoterms weighted by Category 4 based on revenue.
Downstream activity. Emissions = (emissions Cat4) x (ratio of BH-purchased
transportation vs. not purchased).
(secondary data) Revenue data, along with Incoterm
and distribution
weighting, is used to estimate emissions for Category 9.

Description of the data quality of reported emissions Fair

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
Activity data
We calculate direct use-phase emissions for products
(Primary data) Revenue, sales, build plan data for products and services. Energy consumption, gas leakage,
and services. product utilization, and estimated lifetime of products
(Primary data) Product specifications and subject-matter- is based on product expert knowledge and technical
expert testimony. calculations.
Category 11,
Down- Use of sold Emissions factors Emissions = Sum of emissions (MT CO2e) x qty sold in
stream products reporting year (functional unit) x expected life (years) x
(Secondary data) See GHG Emission Factors table in Note 2 allocation factor.
scope 3
above.
emissions.
Description of the data quality of reported emissions Good.

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners
This estimation uses the average-data methodology,
reporting year revenue where available, and emission
Activity data factors outlined in the GHG Protocol and Quantis
(primary data) Revenue and industry of equity investments “Documentation of the data and calculations to
which are not consolidated into the Company’s financial support the Greenhouse Gas Protocol Scope 3
statements. Screening Tool”, last updated February 2021. Certain
equity investments have zero emissions if there was
Category 15, (Secondary data) Emission factors from the Scope
zero activity in their financial information or financial
Investments 3 Quantis Evaluator Tool (ghgprotocol.org/scope-3-
information was not available.
evaluator)
Emissions = ($ revenue by industry) x (Quantis
emission factor).

Description of the data quality of reported emissions Fair

Percentage of emissions calculated using data obtained

0%
from suppliers or other value chain partners

Metric Criteria Page # KPI Methodology

• Total waste generated.

• Hazardous waste generated.
• Non-hazardous waste Total waste generated = ∑ Hazardous waste generated, non-
Waste generated GRI 306-3 p. 71 generated. hazardous waste generated, e-waste waste generated, metals
• E-waste generated. waste generated.
• Metal waste generated.
• All
• Total waste recycled. Total waste diverted from disposal from Baker Hughes operations
through recycling.
Waste diverted • Hazardous waste recycled.
from disposal by GRI 306-4 p. 71 • Non-hazardous waste recycled. Total waste diverted from disposal = ∑ Hazardous waste diverted
waste type from disposal, non-hazardous waste diverted from disposal,
• E-waste recycled.
e-waste diverted from disposal, metals waste diverted from
• Metals recycled. disposal.
• Hazardous waste diverted from Total waste diverted from disposal from Baker Hughes operations.
disposal by recovery operation.
Total waste diverted from disposal = ∑ Hazardous waste diverted
• Non-hazardous waste diverted
Waste diverted from disposal, non-hazardous waste diverted from disposal,
from disposal by recovery
from disposal operation. e-waste diverted from disposal, metals waste diverted from
GRI 306-4 p. 71
by recovery disposal.
• E-waste diverted from disposal
operation
by recovery operation. Each respective component of this calculation is broken down
in categories of recovery operations; preparation of reuse,
• Metal waste diverted from
disposal by recovery operation. reclamation, recycling, and other recovery operations.

• Total waste directed to disposal.

• Hazardous waste directed to Total weight of waste directed to disposal in metric tons by waste
Waste directed to disposal. type.
disposal by waste GRI 306-5 p. 71 • Non-hazardous waste directed Total waste directed to disposal = ∑ Hazardous waste directed
type to disposal. to disposal, non-hazardous waste directed to disposal, e-waste
• E-waste directed to disposal. directed to disposal, metal waste directed to disposal.
• Metal waste directed to disposal.
• Hazardous waste disposed by Total waste directed to disposal from Baker Hughes operations.
disposal operation. Total waste directed to disposal = ∑ Hazardous waste directed
Waste directed • Non-hazardous waste disposed to disposal, non-hazardous waste directed to disposal, e-waste
to disposal by disposal operation. directed to disposal, metals waste directed to disposal.
GRI 306-5 p. 71
by disposal • E-waste disposed by disposal Each respective component of this calculation is broken down
operation operation. in categories of disposal operation categories: Incineration (with
• Metal waste disposed by energy recovery), Incineration (without energy recovery), Landfilling,
disposal operation. and other disposal operations.
• Total waste that was prevented
The sum of total waste prevented equals the volume of material
Waste prevented GRI 306-4 p. 71 from waste disposal by
that was converted from a waste to a product.
converting into products.

TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices Baker Hughes B-31
Note 1 - Basis of presentation
The Statement and Notes on Waste have been prepared for the year from January 1, 2022, to December 31, 2022, corresponding
to the Company’s fiscal year. The Company prepared the Statement and Notes on Waste in accordance with select Global
Reporting Initiative’s disclosures: GRI 306 Waste 2020. Key terms used are defined in the GRI Standards Glossary.

Note 2 – Reporting boundary

The Company presents its waste volume from operations over which it, or one of its subsidiaries, has the full authority to
introduce and implement its operating policies. We exclude minority owned joint ventures not operated by the Company.

Note 3 – Use of estimates and estimation uncertainties

The Company bases its estimates and methodologies on historical experience, available information, and various other
assumptions that it believes to be reasonable. Waste volume presented are subject to measurement uncertainties resulting
from limitations inherent in the nature and the methods used for determining such data. The selection of different but
acceptable measurement techniques can result in materially different measurements. The precision of different measurement
techniques may also vary.

Note 4 - Methodology of Waste Metrics

The volume (metric ton) and waste type are obtained from third party vendors using the Company’s HSE data management
system. Where data from third party vendors are not available for a certain location, the Company estimates the volume by
extrapolating the square footage of the location and the actual volume for the waste type of a similar location.

Note 5 - Glossary of Terms

TERM DEFINITION

Waste disposed that possesses any of the characteristics contained in Annex III of the Basel Convention, or that is
Hazardous waste
considered to be hazardous by national legislation.

Non-hazardous waste All other waste not classified as hazardous, e-waste or metal waste.

Electronic waste Loosely discarded, surplus, obsolete, broken, electrical or electronic devices.

(e-waste) i.e., computers, copiers, fax machines, etc.

Metals are materials that are hard, lustrous, malleable, ductile, and sonorous.
Metal waste
i.e., iron, copper, aluminum, calcium, magnesium, etc.

B-32 Baker Hughes TOC | Letters | By the Numbers | About Baker Hughes | Sustainability | People | Planet | Principles | Appendices
Legal disclosures
We report our sustainability performance annually. This report was developed for the reporting period of January 1, 2022
to December 31, 2022. This report includes several restatements of data from prior years’ reports in accordance with the
Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard, Revised Edition. Those restatements and the
reasons for them are identified as they appear. Our organizational boundary is based on an operational control approach. We
report performance from the operation of our wholly owned companies and the subsidiaries over which we have operational
control and exclude non-operated, minority-owned joint ventures. Our report is reviewed prior to publication by our Governance
and Corporate Responsibility Committee as part of their regular review of sustainability and corporate responsibility topics,
which is then approved by the full Board of Directors.

Unless otherwise specifically stated, this report covers Baker Hughes’s performance in 2022. Incremental information regarding
our sustainability report has been included in our 2022 Annual Report on Form 10-K and our 2022 Proxy Statement, which can be
found at https://investors.bakerhughes.com/investor-relations.

The goals and projects described in this report are aspirational; as such, no guarantees or promises are made that these
goals and projects will be met or successfully executed. Furthermore, data, statistics, and metrics included in this report are
not prepared in accordance with generally accepted accounting principles (GAAP), continue to evolve and may be based
on assumptions believed to be reasonable at the time of preparation, but should not be considered guarantees and may be
subject to future revision. This report uses certain terms including those that GRI or others refer to as “material” to reflect the
issues or priorities of Baker Hughes and its stakeholders. Used in this context, however, these terms are distinct from, and should
not be confused with, the terms “material” and “materiality” as defined by or construed in accordance with securities, or other,
laws or as used in the context of financial statements and reporting.

Statements of future events or conditions in this report, including those that concern future circumstances and results and
other statements that are not historical facts and are sometimes identified by the words “may,” “will,” “should,” “potential,”
“intend,” “expect,” “endeavor,” “seek,” “anticipate,” “estimate,” “overestimate,” “underestimate,” “believe,” “could,” “project,” “predict,”
“continue,” “target” or other similar words or expressions, are forward-looking statements. Forward-looking statements are based
upon current plans, data, estimates and expectations that are subject to risks, uncertainties, and assumptions.

Should one or more of these forward looking statements, risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.
The inclusion of such statements should not be regarded as a representation that such plans, estimates or expectations will
be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations
include, among others: changes in demand for oil and natural gas, as well as integrated products and services; expenditure
reductions; changes in economic, political, and business conditions; changes in laws, regulations, other requirements or the
enforcement or interpretation thereof including those related to oil and gas exploration and production, natural resources
and fossil fuels management and climate-related initiatives; technological developments of, and substantial investments in,
alternative energy; success of our CCUS and other initiatives; inability to reduce environmental impact; involvement in litigation;
inability to satisfy service, equipment and power purchase agreements; inability to obtain, maintain, protect or enforce our
intellectual property rights; remedial or non-compliance actions; the financial and operating conditions of our supply chain;
defects in risk management; losses from, or the inability to identify and mitigate, risks inherent in operating in the global energy
industry; high cost or unavailability of infrastructure, materials, equipment, supplies and/or personnel; potential disruption of
operations due to war, accidents, weather and seasonal factors, political events, civil unrest, cybersecurity, geopolitical, or
terrorism threats, pandemics, economic downturns or other causes beyond our control; and the risk factors in the “Risk Factors”
section of our 2022 Annual Report on Form 10-K and those set forth from time-to-time in other filings by the Company with the
U.S. Securities and Exchange Commission (SEC), available through our website or through the SEC’s Electronic Data Gathering
and Analysis Retrieval (EDGAR) system at http://www.sec.gov.

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