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EPAM and Baker Hughes Collaborate to Transform the Energy Sector Leveraging Advanced AI Implementations

1. EPAM collaborates with Baker Hughes for advanced digital transformations. 2. The partnership enhances efficiency and supports Baker Hughes' 2030 digital revenue goals. 3. EPAM will play a key role at Baker Hughes' Annual Meeting in Florence. 4. This collaboration indicates EPAM's increasing significance in the energy sector.

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Why Bullish?

EPAM's expansive role with Baker Hughes can boost its market position, similar to past partnerships that led to stock gains.

How important is it?

The collaboration may significantly enhance EPAM's credibility and revenue potential within the energy sector.

Why Long Term?

Sustained benefits from the collaboration could enhance EPAM's performance over a prolonged period.

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Collaboration will define and drive global energy efficiency through advanced digital solutions NEWTOWN, Pa., Feb. 1, 2025 /PRNewswire/ -- EPAM Systems, Inc. (NYSE: EPAM), a leading digital transformation services and product engineering company, today announced an expanded engagement with Baker Hughes to revolutionize the energy sector. This engagement names EPAM as Baker Hughes' systems integration collaborator for digital and AI implementations, marking a significant milestone in the sector's digital transformation. Combining EPAM's best-in-class digital engineering and product development capabilities with Baker Hughes' expertise in energy technology, this collaboration will redefine workflows, improve operational efficiency and deliver innovative solutions to drive substantial environmental benefits. Leveraging digital solutions will further support Baker Hughes' 2030 commitment to growing its digital revenue stream through advanced technologies and fostering sustainable energy development. "We are pleased that Baker Hughes has chosen to team up with EPAM, entrusting us with their most complex digital transformation and technology modernization challenges," said Balazs Fejes, President of Global Business & Chief Revenue Officer of EPAM. "With our expert orchestration and systems thinking approach, we look forward to bringing world-class solutions to drive significant change across the industry." The digital transformation achieved through this collaboration also punctuates the theme for the 2025 Baker Hughes Annual Meeting (AM25). The event, held in Florence, Italy, from February 2 to 4, 2025, will bring more than 2,000 industry leaders, policymakers, and experts to share strategies for driving actionable change in the energy industry. EPAM's significant presence at AM25 includes the following highlights: "This year's theme, Progress at Scale, reflects the need for sustainable energy development to drive lasting change across energy and industry," said Lorenzo Simonelli, Chairman and CEO of Baker Hughes. "As Baker Hughes' system integration collaborator for digital and AI implementations – and the current systems integrator for our Leucipa™ automated field production solution – the digital capabilities and expertise of EPAM are crucial to meet growing global energy demand." For more information about how EPAM is turning future possibilities into today's reality for energy companies, visit www.epam.com/industries/energy-and-resources. About EPAM Systems Since 1993, EPAM Systems, Inc. (NYSE: EPAM) has used its software engineering expertise to become a leading global provider of digital engineering, cloud and AI-enabled transformation services, and a leading business and experience consulting partner for global enterprises and ambitious startups. We address our clients' transformation challenges by focusing EPAM Continuum's integrated strategy, experience and technology consulting with our 30+ years of engineering execution to speed our clients' time to market and drive greater value from their innovations and digital investments. We make GenAI real with our AI LLM orchestration, testing and engineering solutions, EPAM DIAL, EPAM EliteA™ and EPAM AI/RUN™, respectively. We deliver globally but engage locally with our expert teams of consultants, architects, designers and engineers, making the future real for our clients, our partners, and our people around the world. We believe the right solutions are the ones that improve people's lives and fuel competitive advantage for our clients across diverse industries. Our thinking comes to life in the experiences, products and platforms we design and bring to market. Added to the S&P 500 and the Forbes Global 2000 in 2021 and recognized by Glassdoor and Newsweek as a Top 100 Best Workplace, our multidisciplinary teams serve customers across six continents. We are proud to be among the top 15 companies in Information Technology Services in the Fortune 1000 and to be recognized as a leader in the IDC MarketScapes for Worldwide Experience Build Services, Worldwide Experience Design Services and Worldwide Software Engineering Services. Learn more at www.epam.com and follow us on LinkedIn. Forward-Looking Statements This press release includes estimates and statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Our estimates and forward-looking statements are mainly based on our current expectations and estimates of future events and trends, which affect or may affect our business and operations. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. Those future events and trends may relate to, among other things, developments relating to the war in Ukraine and escalation of the war in the surrounding region, political and civil unrest or military action in the geographies where we conduct business and operate, difficult conditions in global capital markets, foreign exchange markets and the broader economy, and the effect that these events may have on client demand and our revenues, operations, access to capital, and profitability. Other factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the risk factors discussed in the Company's most recent Annual Report on Form 10-K and the factors discussed in the Company's Quarterly Reports on Form 10-Q, particularly under the headings "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Risk Factors" and other filings with the Securities and Exchange Commission. Although we believe that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made based on information currently available to us. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law. SOURCE EPAM Systems, Inc.

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