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Andrew Martin

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Paul Gifford

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For Immediate Release

Fourth quarter 2011 net income per diluted share of $1.85, including merger-related costs totaling $0.05 per diluted share, increased 59 percent compared to fourth quarter 2010 net income per diluted share of $1.16.

Fourth quarter 2011 sales grew 19 percent, to $2,145 million, compared to fourth quarter 2010 sales of $1,806 million. Organic growth during the fourth quarter 2011 was 15 percent.

Fourth quarter 2011 commercial aftermarket sales grew 20 percent, compared to fourth quarter 2010. Organic growth during the fourth quarter 2011 was 18 percent.

Full year 2011 net income per diluted share was $6.33, including merger-related costs of $0.18 per diluted share and costs of $0.17 per diluted share associated with plant closure and acquisition-related costs, an increase of 40 percent compared to full year 2010 net income per diluted share of $4.51.

Full year 2011 sales grew 16 percent, to $8,075 million, compared to full year 2010 sales of $6,967 million. Organic growth during 2011 was 12 percent.

Full year 2011 net cash provided by operating activities, minus capital expenditures was $863 million, or 106 percent of net income

Large commercial airplane original equipment sales increased by about 27 percent,

Regional, business and general aviation airplane original equipment sales increased by about 17 percent, of which about 10 percent was organic growth,

Large commercial, regional, business and general aviation airplane aftermarket sales increased by about 20 percent, of which about 18 percent was organic growth, and

Defense and space sales of both original equipment and aftermarket products and services increased by about 12 percent. Organic sales growth for this market channel was about 5 percent.

The fourth quarter 2011 results included lower pre-tax income of $2 million, $1 million after-tax or $0.01 per diluted share, related to the changes in estimates for certain long-term contracts primarily in our aerostructures and aircraft wheels and brakes businesses, compared to the fourth quarter 2010. Total pre-tax changes in estimates for the fourth quarter 2011 were $25 million. Changes in both periods were related primarily to favorable cost and operational performance, changes in volume expectations and sales pricing improvements and finalization of contract terms on current and/or follow-on contracts.

The fourth quarter 2011 results included higher pre-tax income of $19 million, $12 million after-tax or $0.09 per diluted share, related to lower world-wide pension plan expense, compared to the fourth quarter 2010.

The company reported an effective tax rate of 29.3 percent for the fourth quarter 2011, compared to an effective tax rate of 8.5 percent during the fourth quarter 2010. The fourth quarter 2010 tax rate included a tax benefit related to a settlement with the California Franchise Tax Board concerning issues related to Goodrich and Rohr for all tax years through 2001 and the full year 2010 benefit of the R&D tax credit, which was renewed by the U.S. Congress in late 2010.

The fourth quarter 2010 results included pre-tax debt redemption costs of approximately $35 million, $22 million after-tax or $0.17 per diluted share. There were no similar charges during the fourth quarter 2011.

Large commercial airplane original equipment sales increased by about 18 percent,

Regional, business and general aviation airplane original equipment sales increased by about 42 percent, of which about 20 percent was organic growth,

Large commercial, regional, business and general aviation airplane aftermarket sales increased by about 15 percent, of which about 13 percent was organic growth, and

Defense and space sales of both original equipment and aftermarket products and services increased by about 10 percent. Organic sales growth for this market channel was about 6 percent.

The full year 2011 results included lower pre-tax income of $36 million, $23 million after-tax or $0.18 per diluted share, related to the expected merger with United Technologies. The pre-tax costs consist of $18 million of transaction-related costs, primarily for third party fees as well as approximately $18 million of increased share-based compensation expenses related to the increased share price.

The full year 2011 results included pre-tax costs of $20 million, $13 million after-tax or $0.10 per diluted share related to a plant closure decision announced in June 2011.

The full year 2011 results included pre-tax and after-tax costs of $9 million, or $0.07 per diluted share, associated with the Microtecnica and Winslow acquisitions.

The full year 2011 results included higher pre-tax income of $10 million, $6 million after-tax or $0.05 per diluted share, related to the revision of estimates for certain long-term contracts primarily in our aerostructures and intelligence, surveillance and reconnaissance (ISR) businesses, compared to the full year 2010. Total revisions in estimates for the full year 2011 were $108 million, pre-tax. Revisions in both periods were primarily related to favorable cost and operational performance, changes in volume expectations and sales pricing improvements and finalization of contract terms on current and/or follow-on contracts.

The full year 2011 results included higher pre-tax income of $78 million, $49 million after-tax or $0.39 per diluted share, related to lower world-wide pension plan expense, compared to the full year 2010.

The company reported an effective tax rate of 29.7 percent for the full year 2011, compared to an effective tax rate of 27.4 percent for the full year 2010.

The full year 2010 results included pre-tax debt redemption costs of approximately $35 million, $22 million after-tax or $0.17 per diluted share. There were no similar charges during 2011.

demand for and market acceptance of new and existing products, such as the Airbus A350 XWB, A320neo and A380, the Boeing 787 and 737 MAX, the EMBRAER 190, the Mitsubishi Regional Jet (MRJ), the Bombardier CSeries, the Dassault Falcon 7X and the Lockheed Martin F-35 Lightning II and the Northrop Grumman Joint STARS re-engining program;

our ability to maintain profitability on the aerostructures 787 OE contract with Boeing;

our ability to extend our commercial OE contracts beyond the initial contract periods;

cancellation or delays of orders or contracts by customers or with suppliers, including delays or cancellations associated with the Airbus A350 XWB, A320neo and A380, the Boeing 787 and 737 MAX, the EMBRAER 190, the Mitsubishi Regional Jet (MRJ), the Bombardier CSeries, the Dassault Falcon 7X and the Lockheed Martin F-35 Lightning II and the Northrop Grumman Joint STARS re-engining program;

our ability to obtain price adjustments pursuant to certain of our long-term contracts;

the financial viability of key suppliers and the ability of our suppliers to perform under existing contracts;

the extent to which we are successful in integrating and achieving expected operating synergies for recent and future acquisitions;

performance issues with products currently in production or in use and successful development of products and advanced technologies;

the impact of bankruptcies and/or consolidations in the airline industry;

the health of the commercial aerospace industry, including the large commercial, regional, business and general aviation aircraft manufacturers;

global demand for aircraft spare parts and aftermarket services;

changing priorities or reductions in the defense budgets in the U.S. and other countries, U.S. foreign policy and the level of activity in military flight operations;

the possibility of restructuring and consolidation actions and the successful implementation of any announced actions;

threats and events associated with and efforts to combat terrorism;

the extent to which changes in regulations and/or assumptions result in changes to expenses relating to employee and retiree medical and pension benefits;

competitive product and pricing pressures;

our ability to recover under contractual rights of indemnification for environmental, asbestos and other claims arising out of the divestiture of our tire, vinyl, engineered industrial products and other businesses;

the effect of changes in accounting policies or legislation, including tax legislation;

cumulative catch-up adjustments or loss contract reserves on long-term contracts accounted for under the percentage of completion method of accounting;

domestic and foreign government spending, budgetary and trade policies;

economic and political changes in international markets where we compete, such as changes in currency exchange rates, interest rates, inflation, fuel prices, deflation, recession and other external factors over which we have no control;

the outcome of contingencies including completion of acquisitions, joint ventures, divestitures, tax audits, litigation and environmental remediation efforts;

the impact of labor difficulties or work stoppages at our, a customer’s or a supplier’s facilities;

uncertainties and business impacts associated with the proposed acquisition of the Company by United Technologies, including uncertainties relating to the anticipated timing of filings and approvals relating to the transaction, the expected timing of completion of the transaction and the ability to complete the transaction; and

the potential impact of litigation relating to the proposed transaction with United Technologies.

NET CUSTOMER SALES

Actuation and Landing Systems

Nacelles and Interior Systems

Electronic Systems

Total Sales

SEGMENT OPERATING INCOME

Actuation and Landing Systems

Nacelles and Interior Systems

Electronic Systems

Segment Operating Income

Higher large commercial airplane OE sales of approximately $61 million, primarily in our landing gear and actuation systems businesses;

Higher defense and space OE and aftermarket sales of approximately $37 million, primarily in our actuation systems business;

Higher large commercial, regional, business and general aviation airplane aftermarket sales of approximately $34 million, primarily in our landing gear and actuation systems businesses;

Higher other aerospace and non-aerospace sales of approximately $14 million, primarily in our actuation systems and engine components businesses; and

Higher regional, business and general aviation airplane OE sales of approximately $6 million, primarily in our wheels and brakes business.

Higher sales volume and favorable product mix across most businesses, which resulted in higher income of approximately $27 million;

Favorable pricing partially offset by higher operating costs across most businesses, which resulted in higher income of approximately $19 million; and

Favorable foreign exchange, including remeasurement of monetary assets/liabilities, of approximately $7 million; partially offset by

Lower income of approximately $4 million related to changes in estimates for certain long-term contracts in our wheels and brakes business that were more favorable in the fourth quarter of 2010.

Higher large commercial OE sales of approximately $65 million, primarily in our aerostructures business;

Higher large commercial, regional, business and general aviation airplane aftermarket sales of approximately $47 million, primarily in our aerostructures and interiors businesses;

Higher regional, business, and general aviation airplane OE sales of approximately $8 million, primarily in our aerostructures business; and

Higher defense and space OE and aftermarket sales of approximately $4 million, primarily in our interiors business.

Higher sales volume and favorable product mix, primarily in our aerostructures and interiors businesses, which resulted in higher income of approximately $42 million;

Favorable pricing, primarily in our aerostructures business, partially offset by higher operating costs across most businesses, which resulted in higher income of approximately $6 million; and

Higher income of approximately $4 million related to changes in estimates for certain long-term contracts in our aerostructures business that were more favorable in the fourth quarter of 2011.

Higher defense and space OE and aftermarket sales of approximately $25 million, primarily in our sensors and integrated systems and intelligence, surveillance and reconnaissance systems businesses;

Higher large commercial, regional, business and general aviation airplane aftermarket sales of approximately $22 million, primarily in our sensors and integrated systems and engine controls and electrical power businesses;

Higher regional business and general aviation airplane OE sales of approximately $8 million, primarily in our sensors and integrated systems business;

Higher other aerospace and non-aerospace sales of approximately $7 million, primarily in our engine controls and electrical power business; and

Higher large commercial airplane OE sales of approximately $2 million, primarily in our sensors and integrated systems business.

Higher sales volume and favorable product mix across most businesses, which resulted in higher income of approximately $34 million; and

Favorable foreign exchange, including remeasurement of monetary assets/liabilities, of approximately $4 million; partially offset by

Lower income of approximately $3 million related to changes in estimates for certain long-term contracts in our ISR business, consisting of favorable changes in estimates of approximately $3 million in the fourth quarter 2011 compared to favorable changes of approximately $6 million in the fourth quarter 2010; and

Higher operating costs across all businesses partially offset by favorable pricing in our sensors and integrated systems and engine control and electrical power systems businesses, which resulted in lower income of approximately $2 million.

Sales

Operating costs and expenses:

Cost of sales

Selling and administrative costs

Operating Income

Interest expense

Interest income

Other income (expense) — net

Income from continuing operations before income taxes

Income tax expense

Income From Continuing Operations

Income from discontinued operations — net of income taxes

Consolidated Net Income

Net income attributable to noncontrolling interests

Net Income Attributable to Goodrich

Amounts Attributable to Goodrich:

Income from continuing operations

Income from discontinued operations — net of income taxes

Net Income Attributable to Goodrich

Earnings per common share attributable to Goodrich:

Basic Earnings Per Share:

Continuing operations

Discontinued operations

Net Income Attributable to Goodrich

Diluted Earnings Per Share:

Continuing operations

Discontinued operations

Net Income Attributable to Goodrich

Dividends Declared Per Common Share

Sales:

Actuation and Landing Systems

Nacelles and Interior Systems

Electronic Systems

Total Sales

Operating Income:

Actuation and Landing Systems

Nacelles and Interior Systems

Electronic Systems

Total Segment Operating Income (1)

Corporate General and Administrative Expenses

ERP Costs

Total Operating Income

Segment Operating Income as a Percent of Sales:

Actuation and Landing Systems

Nacelles and Interior Systems

Electronic Systems

Total Segment Operating Income as a Percent of Sales

Segment operating income is total segment revenue reduced by operating expenses directly identifiable with our business segments except for certain enterprise ERP expenses which were not allocated to the segments. Segment operating income is used by management to assess the operating performance of the segments. See reconciliation of total segment operating income to total operating income above.

Numerator

Income from continuing operations attributable to Goodrich

Percentage allocated to common shareholders

Denominator

Weighted-average shares

Effect of dilutive securities

Adjusted weighted-average shares and assumed conversion

Per share income from continuing operations

Basic

Diluted

Current Assets

Cash and cash equivalents

Accounts and notes receivable — net

Inventories — net

Deferred income taxes

Prepaid expenses and other assets

Income taxes receivable

Total Current Assets

Property, plant and equipment — net

Goodwill

Identifiable intangible assets — net

Deferred income taxes

Other assets

Total Assets

Current Liabilities

Short-term debt

Accounts payable

Accrued expenses

Income taxes payable

Deferred income taxes

Current maturities of long-term debt and capital lease obligations

Total Current Liabilities

Long-term debt and capital lease obligations

Pension obligations

Postretirement benefits other than pensions

Long-term income taxes payable

Deferred income taxes

Other non-current liabilities

Shareholders’ Equity

Common stock — $5 par value

Authorized 200,000,000 shares; issued 149,713,719 shares at December 31, 2011 and 148,213,331 shares at December 31, 2010 (excluding 14,000,000 shares held by a wholly owned subsidiary)

Additional paid-in capital

Income retained in the business

Accumulated other comprehensive income (loss)

Common stock held in treasury, at cost (24,422,527 shares at December 31, 2011 and 23,259,865 shares at December 31, 2010)

Total Shareholders’ Equity

Noncontrolling interests

Total Equity

Total Liabilities And Equity

Operating Activities

Consolidated net income

Adjustments to reconcile consolidated net income to net cash provided by operating activities:

(Income) loss from discontinued operations

Restructuring and consolidation:

Expenses

Payments

Pension and postretirement benefits:

Expenses

Contributions and benefit payments

Depreciation and amortization

Excess tax benefits related to share-based payment arrangements

Share-based compensation expense

Loss on extinguishment of debt

Deferred income taxes

Change in assets and liabilities, net of effects of acquisitions and divestitures:

Receivables

Inventories, net of pre-production and excess-over-average

Pre-production and excess-over-average inventories

Other current assets

Accounts payable

Accrued expenses

Income taxes payable/receivable

Other assets and liabilities

Net Cash Provided By Operating Activities

Investing Activities

Purchases of property, plant and equipment

Proceeds from sale of property, plant and equipment

Net payments made for acquisitions, net of cash acquired

Investments in and advances to equity investees

Net Cash Used In Investing Activities

Financing Activities

Increase (decrease) in short-term debt, net

Debt redemption premium

Net proceeds from issuance of long-term debt

Repayments of long-term debt and capital lease obligations

Proceeds from issuance of common stock

Purchases of treasury stock

Dividends paid

Excess tax benefits related to share-based payment arrangements

Distributions to noncontrolling interests

Net Cash Provided By (Used In) Financing Activities

Discontinued Operations

Net cash provided by (used in) operating activities

Net cash provided by (used in) investing activities

Net cash provided by (used in) financing activities

Net cash provided by (used in) discontinued operations

Effect of exchange rate changes on cash and cash equivalents

Net increase (decrease) in cash and cash equivalents

Cash and cash equivalents at beginning of period