• Transaction strengthens balance sheet with pre-tax cash proceeds of approximately $1.45 billion, before customary closing adjustments

HOUSTON and LONDON, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR, “the Company”), an energy technology company, announced Monday the successful sale of its Waygate Technologies business to Hexagon. The all-cash transaction is valued at approximately $1.45 billion, before customary closing adjustments.

The sale encompasses Waygate Technologies’ remote visual inspection, ultrasound, radiography, and imaging solutions portfolios, and all assets of the business, including intellectual property, footprint and resources.

This divestiture reinforces the Company’s commitment to disciplined portfolio management, enhances the durability of earnings and cash flow, and further strengthens the Company’s balance sheet.

About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

For more information, please contact:

Media Relations

Adrienne M. Lynch
+1 713-906-8407
adrienne.lynch@bakerhughes.com

Investor Relations

Chase Mulvehill
+1 346-297-2561
investor.relations@bakerhughes.com