The document discusses Goodrich Corporation, a major aerospace supplier with leadership positions across multiple markets. It outlines Goodrich's financial performance in 2004 and expectations for 2005, noting balanced growth across commercial and military sectors. New programs like the Airbus A380 and Boeing 787 are expected to be significant drivers of future sales growth.

1. Marshall Larsen
Chairman, President and CEO
Smith Barney Citigroup
18th Annual Industrial Manufacturing
Conference
March 8, 2005
New York City
1

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 A380 and A350, 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, including in the company’s Annual Report on Form 10-K for the year ended
December 31, 2004 and in the Company's February 7, 2005 Full Year 2004 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.
2

3. Agenda
Company and market overview
Organic growth
Key programs
Emerging opportunities in the Defense and Space
markets
2005 focus – operational excellence
2004 Financial results and 2005 outlook
3

4. 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 21,300 employees in facilities throughout the
world
4

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
5

6. Full Year 2004 Sales by Market Channel
Total Sales $4,725M
Total Military and Space Total Commercial OE
Other
6%
30% 29%
Boeing
Commercial OE
8%
Airbus
Commercial OE
15%
OE
Military &
Space, OE &
Aftermarket
30%
Regional,
Business & Gen.
AM Av. OE
6%
Large Commercial Aircraft
Aftermarket
Heavy A/C
Maint. 25%
3%
Regional, Business &
Total Commercial Aftermarket
General Aviation
Aftermarket
35%
7%
Balanced business mix – three major market channels, each with 2004 growth
6

7. Expectations for Goodrich 2005 Sales
Average Expected Growth
2004 Sales
Sales by Market Channel Mix 2004 Actual 2005 Expected
Change Change
Military and Space – Low Single
30% 8%
OE and Aftermarket Digit Growth
Boeing and Airbus –
23% 4% Approx. 12%
OE Production
Regional, Business & General
6% 27% Approx. Flat
Aviation - OE
Aftermarket – Large Commercial
32% 8% Approx. 5%
and Regional, Business and GA
Heavy Airframe Maintenance 3% 2% >10%
Other 6% 5% Flat
Goodrich Total Sales $4.7B 8% $5.0 – $5.1B
7

8. Current vs. Prior Cycle
Market Differences
Market
Growth rate for OE production more manageable
Better balance between Boeing and Airbus
Significantly larger fleet to fuel aftermarket
strength
Airbus fleet is older, more mature – increased
aftermarket support
8

9. Large Aircraft Deliveries
Prior Cycle vs. Current Expectations
1,000 1,000
Boeing Airbus
Boeing Airbus
900
900
GR
800 R
800
CAG
A %
C 10
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
*Forecasts based on public information from manufacturers
9

10. Current vs. Prior Cycle
Company Specific Differences
Goodrich Specific
Significantly larger sales base
• 1996 sales at $1.25B
• 2005 estimated sales at $5 to $5.1B – 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 30% 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
10

11. Agenda
Company and market overview
Organic growth
Key programs
Emerging opportunities in the Defense and Space
markets
2005 focus – operational excellence
2004 Financial results and 2005 outlook
11

12. Airbus A380 & Boeing 787 Awards
A380 787
Passenger Version Passenger Version
Nacelles
Engine Fan Case/Other Specialty
Aerostructures Products
Landing Gear
Power Generation/Distribution
Sensors
Engine Controls
Fuel & Proximity Systems
Flight Control Actuation
Lighting
Wheels and Brakes
Evacuation Systems
Cargo Systems
Specialty Seating Pending
Significant market penetration on new programs
12 Note: Shaded areas indicate Goodrich positions

13. 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
13 ** Year in which significant sales are expected to begin **** Total estimated sales over 20 years

14. 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
$1,000 • JSF Program
• C-5 Re-engine Program
• 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
14

15. Agenda
Company and market overview
Organic growth
Key programs
Emerging opportunities in the Defense and Space
markets
2005 focus – operational excellence
2004 Financial results and 2005 outlook
15

16. Emerging Growth Opportunities
HUMS: Health & Usage Management Systems
Patented Software that can detect and identify subtle, abnormal
vibrations and predict wear in rotating machinery
“Listens” for Subtle, Abnormal “Sounds”
(Vibrations)
Early Detection of “Unhealthy” Conditions
Directs Maintenance in Plain, Simple
Language
No “Experts” Required
Saves – TIME, Saves – MONEY, Saves –
LIVES
Safer Aircraft, Less Maintenance Time
Revenue Potential > $300M
Pursue Civil Fleet and Military Upgrades
16

17. Emerging Growth Opportunities
Airborne Reconnaissance – DB110
“Turnkey” Reconnaissance
System For Border Patrol And
Homeland Security
Goodrich Provides:
Airborne pods
• DB-110 EO/IR camera
• Data Link
• Recorder
Ground stations
Training
Integrated logistics support
Current contracts with UK and
Poland
Proven capability in a high risk
environment
DB-110 used extensively in
Operation Iraqi Freedom
17

18. Emerging Growth Opportunities
Chemical/Biological Detection Systems
Market Needs:
Develop a robust chemical and biological detection system for Defense and
Homeland Security applications.
Approach:
Apply Goodrich’s Millimeter Wave technology to address detection of chemical
and biological agents.
Utilize expertise in the areas of threat warning, signal extraction, and systems
design to solve difficult problems.
Secure Funding for development and production from government agencies
Revenue Potential: $29M
Agency and Program Contract Value
HSARPA:
Auto Rapid Facility Chemical Agent Monitor (ARFCAM) $8M awarded
Rapid Automated Biological Identification System (RABIS) $3M awarded
ARO (Army Research Organization) $3M appropriated
DTRA (Defense Threat Reduction Agency) $4M pending
18

19. Emerging Growth Opportunities
Laser Perimeter Awareness System
Protect High Value
Homeland Security
TERRORISM Assets and
Global Cooperation
Infrastructure
What needs Protection: Nuclear
Power Generation Power and
Perimeter Security
Military Bases Weapons
Explosive Detection
Oil Refineries
Container Sensing
Market $1.5B Dams
Airports
5 Year
Petrochemical
Gov’t Offices
LPAS Revenue
Military Bases
Embassies
Potential
>$150M Borders
Ships / Ports
*Morgan Keegan & Co.
LPAS fills market need for autonomous perimeter security
Positioned to fill gap between guard/fence/camera solutions
and more expensive radar/infra-red schemes
19

20. Agenda
Company and market overview
Organic growth
Key programs
Emerging opportunities in the Defense and Space
markets
2005 focus – operational excellence
2004 Financial results and 2005 outlook
20

21. 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”
21

22. 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
22

23. Operational Excellence
Lean Product Development
Planning Execution Stable Production
Macro Learning
Standard Work Combination Sheet
Standard Work Sheet
7-
FR OM: Incoming PR EPARED BY: J. Smith
PROCES S NAME:
SCOPE OF
Forming Center DATE: 3/16/00
talk to customer OPERATIONS TO: Finished 590 seconds
Date:______________ Process /Cell:__________________ Dept.:_________ Takt Time:_____________
Face & Burr 059
12/6/98
look for work Marty & Jim Group 1 N/A
Observer(s):____________________ Part:_________________ Machine No:___________________
Operator:___________
Fred M.
count cost Spray & Dry Times
Operation Times (seconds)
Step Plan.
Operation
2 No. Op. Man Mach Walk
100 200 300 400 500 600 700 800
Pick part form tote, index
1 77quot; 10quot;
1 to APLT and scribe.
• Pksx xnk dcm; s
• Pksx xnk dcm; s • Pksx xnk dcm; s • knk sdcn Incoming Rack
Remove APLT and face
• knk sdcn • knk sdcn • [nq sndc hdhdn
2 163quot; 10quot;
edges to scribe line.
2
• [nq sndc hdhdn • [nq sndc hd hdn • nq s msjkc mzm
1
3
• nq smsjkc mzm • nq smsjkc mzm • jsjk qw nq
Mach ng
• j sj k qw nq • jsjk qw nq Deburr holes.
make spares • ncx nokk qwddm
ine
Formi
3
build tools 84quot; 10quot;
• ncx nokk qwddm
make parts
Index part to APLT,
3 4 5quot;
102quot;
clamp and final scribe.
Rem APLT and
ove
6 5 10quot;
50quot;
6 final face edges.
4 5
• Pksx xnk dcm; s
• knk sdcn
6 Final deburr holes.
Finished
11
• Pksx xnk dcm;s
4
53quot;
• [nq sndc hdhdn
• knk sdcn Rack
5
• nq smsjkc mzm
Tab hing
• Pksx xnk dcm; s
• [nq sndc hdhdn
• j sjk qw nq
• knk sdcn Test Bench
le
Finis
• nq s msjkc mzm
7 Place part and APLT in tote.
• [nq sndc hdhdn 10quot;
• jsjk qw nq
Customer audit
• nq s msjkc mzm
• ncx nokk qwddm
• jsjk qw nq
get materiel
plan work
• Pksx xnk dcm; s
SAFETY CAUTION STANDARD WORK INPROCESS TAKT TI ME CYCLE TIME OPE RATOR(S):
• knk sdcn QUALITY CHECK
• [nq sndc hdhdn
5=
• nq smsjkc mzm
• j sjk qw nq MAN
Tot al
• Pksx xnk dcm;s • Pksx xnk dcm; s Totals
• ncx nokk qwddm 529quot; 55quot; Waiting: AUTO
• knk sdcn • knk sdcn
WAL K
• [nq sndc hdhdn • [nq sndc hd hdn
WAITI G
N
13 584quot;
• nq smsj kc mzm • nq smsjkc mzm
9
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 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
23

24. 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
24

25. 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
25

26. A380 Actuation System
Current Status
Most complex and largest commercial flight control system
Joint development and production by multiple Goodrich
business units (Actuation Systems, Engine Control Systems,
Fuel and Utility Systems, and Power Systems)
Combines conventional and electro-hydraulic actuation
Lighter weight, improved reliability, and lower total cost
Redesign/retrofit program on schedule
Redesigned motor drive electronics currently in test phase
Expect approved product mid-year
Expect retrofit effort to be substantially completed in 2005
Evaluating potential claim against Northrop Grumman
Financial impact essentially complete in 2005
26

27. A380 – Primary Flight
Control System
4 Rudders EBHA
4 Elevators S/C
4 Elevators EHA
8 Ailerons S/C
4 Ailerons EHA
Total = 24 servocontrols per aircraft
27

28. Agenda
Company and market overview
Organic growth
Key programs
Emerging opportunities in the Defense and Space
markets
2005 focus – operational excellence
2004 Financial results and 2005 outlook
28

29. Full Year 2004 – Financial Summary
Full Year Full Year
(Dollars in Millions, excluding EPS)
2004 2003 Change
Sales $4,725 $4,383 8%
Segment operating income $493 $316 56%
- % of Sales 10.4% 7.2% +3.2%
Income
- Continuing operations $156 $38 311%
- Net income $172 $100 72%
Diluted EPS
- Continuing operations $1.30 $0.33 294%
- Net income $1.43 $0.85 68%
29

30. 2005 Outlook
P&L Summary ($M)
Actual Estimate
2004 2005 B/(W)
Sales $4.725B $5.0-5.1B +6-8%
Segment Income $493 $555-585 +13-19%
Margin % 10.4% 11.0-11.5% +0.6 – 1.1%
Net Income $172 $195-220 +13 - 28%
EPS (Diluted)
- Continuing Operations $1.30 $1.60-1.80 +23 - 38%
- Reported $1.43 $1.60-1.80 +12 - 26%
Shares Outstanding 120.3M 122.5M 2%
~ ~
Strong sales and earnings growth
Note: The current earnings and cash flow from operations outlook for 2005 does not include any premiums and associated costs, or interest
30 expense savings, related to early retirement of debt during 2005 or resolution of the previously disclosed Rohr and Coltec tax litigation.

31. Summary
31

32. 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
32

33. What Investors Should
Expect from Goodrich in 2005
Key focus in 2005 – operational excellence and margin
improvement
Complete redesign effort, and substantially
complete the retrofit, for A380 actuators
Focused on the business
• “Blocking and Tackling”
- Cash flow
- Margin improvement
- Actuation business operational improvement
- Working capital management
- Cost reduction
• New product development
- Continue investing in new products and systems
Continue to reduce leverage
Target $150 - $200 million debt retirement
Transparency of financial results and disclosure
33