1. Marshall Larsen
Chairman, President and CEO
Bank of America
35th Annual Investment Conference
San Francisco
September 21, 2005
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2. Forward Looking Statements
Certain statements made in this presentation are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 regarding the Company's future plans,
objectives and expected performance. The Company cautions readers that any such forward-
looking statements are based on assumptions that the Company believes are reasonable, but are
subject to a wide range of risks, and actual results may differ materially.
Important factors that could cause actual results to differ include, but are not limited to: demand
for and market acceptance of new and existing products, such as the Airbus A350 and A380, the
Boeing 787 Dreamliner, the Embraer 190, and the Lockheed Martin F-35 Joint Strike Fighter and
F-22 Raptor; the health of the commercial aerospace industry, including the impact of
bankruptcies in the airline industry; global demand for aircraft spare parts and aftermarket
services; and other factors discussed in the Company's filings with the Securities and Exchange
Commission and in the Company's July 28, 2005 Second Quarter 2005 Results press release.
The Company cautions you not to place undue reliance on the forward-looking statements
contained in this presentation, which speak only as of the date on which such statements were
made. The Company undertakes no obligation to release publicly any revisions to these forward-
looking statements to reflect events or circumstances after the date on which such statements
were made or to reflect the occurrence of unanticipated events.
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3. Company Overview - Goodrich
One of the largest worldwide aerospace suppliers
Broadest portfolio of products in industry
Proprietary, flight critical products
Operating history of over 130 years
More than 22,100 employees in facilities throughout the world
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5. Goodrich – Key Market
Leadership Positions
Aerospace Focus - Leadership Positions - Global Presence - Broad Systems Capability - Highly Engineered Products
UTC SNECMA HON Goodrich
2004 Aerospace Sales $14.7B $8.9B $9.7B $4.7B
Nacelles
Engines
Power Generation
Sensors
APUs
Avionics
Electronic Controls
Flight Ctrl/Actuation
Environmental Controls
Landing Gear
Lighting
Wheel/Brakes
Evacuation Systems
Cargo Systems
Space Systems
Goodrich has the broadest portfolio of system leadership positions;
with approximately 85% of sales in markets with #1 or #2 positions world-wide
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6. First Half 2005 Sales by Market Channel
Total Sales $2,628M
Total Military and Space Total Commercial OE
Other
6%
28% 31%
Boeing
Commercial OE
8%
Airbus
Commercial OE
16%
OE
Military &
Space, OE &
Aftermarket
28%
Regional,
Business & Gen.
AM Av. OE
7%
Heavy A/C
Large Commercial Aircraft
Maint.
Aftermarket
4%
24%
Regional, Business &
General Aviation Total Commercial Aftermarket
Aftermarket
35%
7%
6 Balanced business mix – three major market channels, each with strong growth
7. 2005 Market Channel Growth Expectations
Average Growth
2004 Sales
Mix
Sales by Market Channel 1st 6 Mos. 2005 Expected
2005 vs. 1st Change from
6 Mos. 2004 2004
Military and Space –
30% 11% 5% - 6%
OE and Aftermarket
Boeing and Airbus –
23% 18% Approx. 20%
OE Production
Regional, Business & General
6% 22% >10%
Aviation - OE
Aftermarket – Large Commercial
32% 13% Approx. 10%
and Regional, Business and GA
Heavy Airframe Maintenance 3% 38% >25%
Other 6% 15% Approx. 15%
Goodrich Total Sales $4.7B 15% 10% - 12%
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8. Current vs. Prior Cycle
Market Differences
Market
Growth rate for OE production smoother
Better balance between Boeing and Airbus
Significantly larger fleet to fuel aftermarket strength
Airbus and regional jet fleet is older, more mature –
increased aftermarket support
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9. Large Aircraft Deliveries
Prior Cycle vs. Current Expectations
1,000 1,000
Boeing Airbus
Boeing Airbus
900
900
800
GR R
800
CAG
A %
C 11
Aircraft Delivered
700
Aircraft Delivered
700
2%
3 600
600
500
500
400
400
300
300
200
200
100
100
0
0 2003 2004 2005 2006
1996 1997 1998 1999 Est.* Est.*
Based on current estimates, this upcycle will have more measured OE growth
9 *Forecasts based on public information from manufacturers
10. Current vs. Prior Cycle
Company Specific Differences
Goodrich Specific
Significantly larger sales base
• 1996 sales at $1.25B
• 2005 estimated sales at $5.2 to $5.3B – more than a four-fold increase
Significantly more diverse products
• 1996 – focused on wheels and brakes, landing gear, sensors and
evacuation systems
• 2005 – all of the above plus aerostructures, engine controls, actuation
and more
Top line growth potential from new programs is much
greater
Currently at 28% military and space, versus 18% in 1996
(without Rohr) and 9% in 1997 (including Rohr)
Much better positioned from a cost structure standpoint
Higher proportion of “power-by-the-hour” contracts
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11. Airbus A380, A350 & Boeing 787 Awards
A380 A350 787
Passenger Passenger Passenger
Version Version Version
Nacelles
Engine Fan Case/Other Specialty
Pending
Aerostructures Products
Landing Gear Pending
Power Generation/Distribution Pending
Sensors Pending
Engine Controls Pending
Fuel & Proximity Systems Pending
Flight Control Actuation Pending
Lighting Pending
Wheels and Brakes Pending
Evacuation Systems Pending
Cargo Systems Pending
Specialty Seating Pending Pending
Significant market penetration on new programs
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Note: Shaded areas indicate Goodrich positions
12. Key New Programs Will Add
Balanced Future Growth
Military
Commercial
CF34-10 Nacelle
A380 Program Joint Strike Fighter
System C-5 Re-Engine
$1.4 Billion+*
$6 Billion+* $5 Billion+* $0.8 Billion+*
2005**
2005** 2006** 2004**
787 Dreamliner A350 Program Small Engine Controls
$1.1 Billion+*
$7 Billion+*** $6 Billion****
2005**
2008** 2010**
*Total estimated sales over life of program *** Total estimated sales through 2028
12 ** Year in which significant sales are expected to begin **** Total estimated sales over 20 years
13. Expected Future Sales
from Key New Programs
(Dollars in Millions)
$1,400
Annual Expected Future Sales for:
• A380 Program
$1,200 • 787 Program
• A350 Program
• CF34-10 Nacelle System
CF34-
$1,000 • JSF Program
• C-5 Re-engine Program
Re-
• Small Engine Controls
$800
$600
$400
$200
$0
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
New program sales are expected to provide significant incremental
sales growth
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14. Emerging Growth Opportunities
HUMS: Health & Usage Management
Systems
Patented Software that can detect and
identify subtle, abnormal vibrations and
predict wear in rotating machinery
Airborne Reconnaissance – DB110
“Turnkey” reconnaissance system for
Border Patrol and Homeland Security
Chemical/Biological Detection Systems
Robust chemical and biological detection
Nuclear
system for Defense and Homeland Security Power
applications and
Weapon
Laser Perimeter Awareness System s
Petrochemical
Military
Bases
Autonomous perimeter security
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15. Goodrich – Strategic Imperatives
Top Quartile
Aerospace Returns
Conclusion
Leverage the Operational
Balanced Growth
Enterprise Excellence
Use portfolio mass and Manage investments at the Push aggressive Supply
breadth to capture market portfolio level Chain Management and
share Continuous Improvement
Provide Enterprise Shared
Win new program positions Services Drive breakthrough change
in product and development
Pursue Military Markets and Leverage SBU capabilities into
costs using LPD and DFSS
Government funding integrated, higher level
opportunities systems Improve Enterprise
manufacturing and
Aftermarket products and Simplify customer interfaces –
engineering efficiencies
services expansion act as “One Company”
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16. Operational Excellence
Lean Manufacturing - Actuation Systems
A380 Prismatic Titanium Machining Cell
Linkage and Flow Event
Entire area moved during the week
Pre-Event – Monday Morning Post Event – Friday Morning
• Part travel reduced by 78% from 1,677m to 372m
• Operator travel reduced by 85% from 2,442m to 372m
• Lead time for Titanium Valve Block reduced by 86% from 72 days to 10 days
• Work in progress reduced by 64% from 39 blocks to 14 blocks
3 Months Action in 1 Week
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17. Operational Excellence
Lean Product Development
Planning Execution Stable Production
Macro Learning
Standard Work Combination Sheet
Standard Work Sheet
FROM: Incoming PREPA RED BY: J. Smith
PROCESS N AME:
SC OPE OF
Forming Center DATE: 3/16/00
talk to customer OPER ATION S TO: Finished 590 seconds
Date:______________ Face & Burr 059
Process /Cell:__________________ Dept.:_________ Takt Time:_____________
12/6/98
look for work
7-
N/A
Marty & Jim Group 1
Observer(s):____________________ Part:_________________ Machine No:___________________
Operator:___________
Fred M.
count cost
S pray & Dry Times
Operation Times (seconds)
Step Plan.
Operation Op.
2 M an
No. Mach Walk
100 200 300 400 500 600 700 800
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MACRO Impact Customer LWW Part Assy. Assy. Cell Std. Pull Validate
3P
VOC
Learning Matrix Deliverables Prog. Plan Family Flow I Flow II Layout Work Systems SW
New Program Execution – Lean LPD Model
$
Product Development:
$
Continue to Evolve
Least Waste Way
787 and A350 Nacelle Program Execution Cum
Non-
Recurring Recurring Unit Cost
Newest Training Ground for Lean PD Time
Raises Performance Bar for Lean PD
Rigorous and Relentless Application of Lean PD on
All New Business Acquisition Projects
All New Product Development Programs
Implement… Improve… Standardize
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18. Operational Excellence
Significant Cost Reduction
The Challenge: Significant Cost Reduction
Make / Buy / Offset
Pre-Lean Traditional Cost Model
Core Competency Model
LWW Cost Model
Goodrich One Source
Make
Technology
Global Sourcing Offset
Target Cost
Buy
Gap Closure
Global Sourcing Offset Deploy per Site Strategy
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19. Operational Excellence
Supply Chain Management
Eastern Europe Russia
Misc. LG support Titanium Forgings China
and sheets Forgings/Machined Parts
Comp. Fan Cowls
Korea
Castings
Taiwan
Machined Panels
Singapore
Machined Parts/Engine Mounts
Indonesia
Machined Parts JV
Mexico
Seals
Malaysia
Electronic Comps
India Composite Panels
MRO
Engineering
Transportation Service
IT Services
Components
Goodrich Sourcing Efforts Growing in Low Cost Countries
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20. Goodrich – Culture
Highest levels of integrity
Entrepreneurial, fast moving and empowered
Key functions recently aligned at enterprise
level to leverage size, capabilities
Experienced, stable management team
Accountability
Customer focus
Technology leadership
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21. What Investors Should
Expect from Goodrich in 2005
Key focus in 2005 – operational excellence
and margin improvement
Focused on the business
“Blocking and Tackling”
Cash flow
Margin improvement
Working capital management
Cost reduction
New product development
Continue investing in new products and systems
Transparency of financial results and
disclosure
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