Supplemental Retirement Plan – Important InformationEffective in January 2020 There will be some changes to the Baker Hughes Supplemental Retirement Plan (SRP), effective in January 2020. You should review the key transition dates and be aware of services that will be unavailable during the blackout period.

What’s HappeningAccount Transfer to Newport GroupNewport Group will be the new SRP recordkeeper. Newport Group is a leading retirement services firm that has specialized in the administration of deferred compensation plans like the SRP for more than 30 years. SRP 2020 annual enrollment was completed through the Newport Group system.

Your SRP account will transfer to Newport Group beginning January 2020. Due to this change, you will also have a new customer service team to assist you with your SRP benefit. Representatives can be reached at 800-230-3950, Monday to Friday, 7:30 a.m. – 7:00 p.m. CT.

No Investment Fund ChangesThere will be no changes to the investment fund lineup at this time.

Blackout Period To ensure all account information is transferred accurately to the new recordkeeper, there will be periods of time (“blackout periods”) beginning December 2019, when you will be unable to manage your account.

When the blackout period ends the week of January 13, 2020, you will be able to view your new account balance, see your SRP elections, and make investment changes.

If You Don’t Take Any ActionYour account details will automatically transition to your new SRP account. Historical account data currently available online will not transfer to your new SRP account, so if you want to retain this data, go to your current SRP account and download that information before December 31, 2019. You do not have to take any other action during the transition period.

Your beneficiaries will map to your new account. When you can access your account the week of January 13, 2020, make sure to review your beneficiaries and make any necessary changes.

Your Beneficiaries

January 2020 Distributions

Key Dates

Date What’s Happening

Now until December 20, 2019, at 3:00 p.m. CST You can access your current SRP account through BakerHughesBenefits.com/SRP and make any non-investment changes (such as address or beneficiary changes) as you do now.

December 31, 2019, 3:00 p.m. CST: Blackout Period Begins

Beginning on this date, you will be unable to make changes to any of the investments for your account, including transferring funds between investments and making changes to your future investment elections.

January 1, 2020 – Week of January 13, 2020 The recordkeeper will use this time to get your account set up in their system. Your balances will remain fully invested during this time.

The week of January 13, 2020: Blackout Period Ends

If you are employed, SRP deferrals and company contributions from your January 3, 2020 paycheck will post in your new SRP account after the blackout period ends. You will be notified when the transition is complete.

Mid- to late January 2020 You will receive your Q4 2019 statement in the mail in mid- to late January, as you usually do.

If you are due a payment in January 2020, it will be paid in January after the transition period ends based on the January 1 account balance.. If you wish to add or update your direct deposit information, you must do so by December 20, 2019.

Below are some upcoming dates and deadlines to be aware of as we make the transition to Newport Group.

Any investment changes made after 3:00 p.m. CST will usually be effective on the next business day that markets are open. For example, any investment election change made after 3:00 p.m. CST on January 15, 2020, will be effective on January 16, 2020.

Neither Baker Hughes nor any other entity associated with the Plan can provide investment advice. Before investing each individual should carefully consider his or her investment objectives, risks, charges, expenses, and other important information associated with any employer retirement plan. No single approach is right for everyone because, among other factors, individuals have different financial goals, different time horizons for meeting those goals, and different risk tolerances.

You have the right to direct the investment of your assets. It is important for you to review the descriptions of the investment options offered within the plan, and all other materials and resources to help you make well-informed choices. You can access your current account information on myRewards. Beginning the week of January 13, 2020, you will be able to access your account information through Newport Group via BakerHughesBenefits.com/SRP. You may also want to consult your tax advisor and other financial professionals before making any investment decisions.

If you have questions about this notice, please email srp@bakerhughes.com. For questions about your SRP account between now and December 31, 2019 contact the Baker Hughes Benefits Center at 866-244-3539. After December 31 you can contact your new SRP representatives at 800-230-3950.