<PAGE>
[GRAPHIC OF PRECISION CASTPARTS CORP. LOGO]
PRECISION CASTPARTS CORP.
---------------------------------------------
GOLDMAN SACHS CAPITAL GOODS CONFERENCE
October 30, 2000
<PAGE>
FORWARD-LOOKING STATEMENT
--------------------------------------------------
INFORMATION IN THIS PRESENTATION DESCRIBING THE PROJECTED GROWTH AND
FUTURE RESULTS AND EVENTS CONSTITUTES FORWARD-LOOKING STATEMENTS,
within the meaning of the Private Securities Litigation Reform Act of
1995. ACTUAL RESULTS IN FUTURE PERIODS MAY DIFFER MATERIALLY FROM THE
FORWARD-LOOKING STATEMENTS BECAUSE OF A NUMBER OF RISKS AND
UNCERTAINTIES, including but not limited to fluctuations in the
aerospace and general industrial cycles; the relative success of the
Company's entry into new markets, including the rapid ramp-up of
production for industrial gas turbine and airframe components;
competitive pricing; the availability and cost of materials and
supplies; relations with the Company's employees; the Company's ability
to manage its operating costs and to integrate acquired businesses in
an effective manner; governmental regulations and environmental
matters; risks associated with international operations and world
economies; the relative stability of certain foreign currencies; and
implementation of new technologies. ANY FORWARD-LOOKING STATEMENTS
SHOULD BE CONSIDERED IN LIGHT OF THESE FACTORS. THE COMPANY UNDERTAKES
NO OBLIGATION TO PUBLICLY RELEASE ANY FORWARD-LOOKING INFORMATION TO
REFLECT ANTICIPATED OR UNANTICIPATED EVENTS OR CIRCUMSTANCES AFTER THE
DATE OF THIS PRESENTATION.
<PAGE>
<TABLE>
<CAPTION>
[Organizational Chart Depicting FY 01 - Q2]
Precision Castparts Corp.
<S> <C> <C> <C>
Investment Cast Products Forged Products Fluid Management Industrial Products
Products
PCC Structurals Wyman-Gordon PCC Flow Technologies PCC Specialty
Forgings Products
PCC Airfoils J&L Fiber Services
Wyman-Gordon Castings Advanced Forming
Technology
</TABLE>
<TABLE>
<CAPTION>
FY01 FY00 %
Q2 Q2 Change
<S> <C> <C> <C>
Net Sales $566.4M $357.9M 58.3%
Gross Margin $124.5M $80.4M 54.9%
Operating Income $71.0M $42.9M 65.5%
Earnings per
Share (diluted) $0.61 $0.47 29.8%
</TABLE>
<PAGE>
U.S. MANUFACTURING LOCATIONS
[Graphic of United States Depicting Locations of PCC Manufacturing Facilities]
- 36 Manufacturing Facilities
- 16 States
- 10,600 Employees
<PAGE>
WORLDWIDE MANUFACTURING LOCATIONS
[Graphic of Europe Depicting Locations of PCC Manufacturing Facilities]
Other manufacturing facilities:
Edmonton, Canada
Mexicali, Mexico
Bangalore, India
Sales Offices
- Shanghai
- Germany
- Singapore
- Australia
- 12 Manufacturing Facilities
- 10 Countries
- 2,450 Employees
<PAGE>
<TABLE>
<CAPTION>
INVESTMENT CAST PRODUCTS
$282.1M
17.4% OP INCOME
Wyman-Gordon
PCC Structurals PCC Airfoils Castings
-------------------- ----------------- --------------------
<S> <C> <C>
*Investment Castings * Investment Castings * Investment Castings
- Aircraft Engines - Aircraft Engines - Aircraft Engines
- Aeroderivative Engines - Industrial Gas Turbines - Industrial Gas Turbines
- Medical Prostheses - Aeroderivative Engines - Aerospace
- Impellers - Automotive - Airframe
- General Industrial - Microturbines
* Machining - Nuclear Energy
* Tungsten Carbide Components -Aerospace - Locomotive
- Gundrills - IGT - Food Processing
- Extruded Products - Medical Prostheses
- Other Components * Repair
- Aerospace
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - PCC STRUCTURALS
[Bar Chart Depicting PCC Structurals Base/Acquisition Growth
for Years 1985, 1996, 1998 and 2001 Forecast]
<TABLE>
<CAPTION>
1985 1996 1998 2001 Forecast
------ ------ ------ ------------------
<S> <C> <C> <C>
Base Base Base Base
Base Growth 65% Base Growth 195% Base Growth 187%
Acquisition 8% Acquisition 36% Acquisition 47%
Total 73% Total 231% Total 234%
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - PCC AIRFOILS
[Bar Chart Depicting PCC Airfoils Base/Acquisition Growth
for Years 1986, 1989, 1997 and 2001 Forecast]
<TABLE>
<CAPTION>
1986 1989 1997 2001 Forecast
------ ------ ------ ------------------
<S> <C> <C> <C>
Base Base Base Base
Base Growth 17% Base Growth 70% Base Growth 161%
Acquisition 3% Acquisition 56% Acquisition 151%
Total 20% Total 126% Total 312%
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - WYMAN-GORDON CASTINGS
[Bar Chart Depicting Wyman-Gordon Castings Base/Acquisition Growth
for Years 1985, 2000 Pro Forma and 2001 Forecast]
<TABLE>
<CAPTION>
1985 2000 Pro Forma 2001 Forecast
------ --------------------- ------------------
<S> <C> <C>
Base Base Base
Base Growth 73% Base Growth 103%
Acquisition 250% Acquisition 267%
Total 323% Total 370%
</TABLE>
<PAGE>
REVENUE BY INDUSTRY
INVESTMENT CAST PRODUCTS
<TABLE>
<CAPTION>
FY 1999 FY 2000 FY 2001 Forecast
<S> <C> <C>
[Pie Chart depicting [Pie Chart depicting [Pie Chart depicting
FY 1999 Revenue] FY 2000 Revenue] FY 2001 Forecast
$942,100,000 $970,800,000 Revenue]
Aerospace 79% Aerospace 70% Aerospace 67%
IGT 12% IGT 21% IGT 23%
Other* 7% Other* 7% Other* 7%
Aeroderivative Engines 2% Aeroderivative Engines 2% Aeroderivative Engines 3%
</TABLE>
* "Other" includes industrial processing, automotive, medical, etc.
<PAGE>
FY01 Outlook
------------------
Investment Cast Products
- Increasing aircraft engine market growth
- Strong growth in IGT and aeroderivatives
- Airframe sales expanding
- Strong regional aircraft engine sales
- Market share gains in aluminum casting
- Mexico site selected
- Opportunities for value-added machining
<PAGE>
Forged Products
$155.4M
15.3% Op Income
|
Wyman Gordon Forgings
* Forgings * Machining
- Aircraft Engines - Aerospace
- Aeroderivative Engines - IGT
- Structurals
- Industrial Gas Turbines
- Seamless Pipe
<PAGE>
BASE/ACQUISITION GROWTH - WYMAN-GORDON FORGINGS
[Bar Chart Depicting Wyman-Gordon Forgings'
Base/Acquisition Growth for 2000 Pro Forma and 2001 Forecast]
2000 Pro Forma
--------------------
Base
2001 Forecast
------------------
Base
Base Growth 5%
Acquisition 8%
Total 13%
<PAGE>
Revenue by Industry
Forged Products
FY2000
$192,100,000
Aerospace 81%
IGT 8%
Energy 9%
Other 2%
FY2001 Forecast
Aerospace 76%
IGT 11%
Energy 13%
<PAGE>
FY01 Outlook
------------------
Forged Products
- Top-line growth opportunities
- Increased volume from aerospace forgings, IGT forgings, and value-added
machining
- Excellent market growth opportunity in extruded pipe products
- Strong aircraft engine marketplace
- Continued strength in IGT and aeroderivatives
- Outstanding execution of cost-savings plans
- Lincoln acquisition - technology/market growth
- International manufacturing
<PAGE>
AIRCRAFT ENGINE CONTENT
[Cutaway Graphic Depicting Aircraft Engine Content]
<PAGE>
INDUSTRIAL GAS TURBINE CONTENT
[Cutaway Graphic Depicting Industrial Gas Turbine Content]
<PAGE>
Fluid Management Products
$77.3M
4.3% Op Income
PCC Flow Technologies
<TABLE>
<CAPTION>
<S> <C> <C>
* Pumps (OEM/Aftermarket) * Valves (OEM/Aftermarket) * Brand Names
- Energy - Energy - PACO Pumps
- Power Generation - Refining - Johnston Pump
- Cogeneration - Chemical - General Valve
- Agricultural - Petrochemical - E/One
- Municipal - Pharmaceutical - TBV
- Residential - Brewing - TECHNO
- Shipping - Pulp and Paper - Reiss
- Mining - Valtaco
- Technova
* Detection Systems * Wellhead Equipment - Sterom
- Power Generation - Energy - Newco Valves
- OIC Valves
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - PCC FLOW TECHNOLOGIES
[Bar Chart Depicting PCC Flow Technologies
Base/Acquisition Growth for Years 1998, 1999, 2000 and 2001 Forecast]
<TABLE>
<CAPTION>
1998 1999 2000 2001 Forecast
------ ------ ------ ------------------
<S> <C> <C> <C>
Base Base Base Base
Base Growth 8% Base Growth (4%) Base Growth (2%)
Acquisition 21% Acquisition 29% Acquisition 45%
Total 29% Total 25% Total 43%
</TABLE>
<PAGE>
REVENUE BY INDUSTRY
FLUID MANAGEMENT PRODUCTS
[Pie Chart Depicting [Pie Chart Depicting
FY 1999] FY 2000
$280,100,000 $269,800,0000
Energy/Petrochemical - 41% Energy/Petrochemical - 47%
Other* - 21% Other* - 15%
Wastewater - 14% Wastewater - 18%
Industrial Processing - 12% Industrial Processing - 7%
Commercial Construction - 8% Commercial Construction - 11%
Water Resources - 4% Water Resources - 2%
[Pie Chart Depicting
FY 2001 Forecast]
Energy/Petrochemical - 47%
Other* - 14%
Wastewater - 18%
Industrial Processing - 9%
Commercial Construction - 9%
Water Resources - 3%
*"Other" includes chemical transport, mining, irrigation, etc.
Excludes Penberthy & Water Specialties
<PAGE>
FY01 Outlook
------------------
Fluid Management Products
- Power generation market
- Improved sales opportunities
- Expanded European/US distribution
- Sourcing agreements
- Esso International (Latin America/SE Asia)
- SASOL (South Africa)
- Black & Veatch (U.S.)
- Fluor Daniel (Worldwide)
- International growth
- Malaysia
- Mexico
<PAGE>
FY01 Outlook
------------------
- Improved operating performance
- Manufacturing productivity
- Upgraded factories
- Romania - Brookshire - TBV - Glasgow -E/One
- Outsourcing
- China - India - Mexico - Romania
- Redesigned products for lower cost
- Consolidation of facilities
- Cautious optimism for refining/chemical recovery
<PAGE>
INDUSTRIAL PRODUCTS
$51.6M
3.4% OP INCOME
<TABLE>
<CAPTION>
PCC Specialty Products J&L Fiber Services Advanced Forming
Technology
<S> <C> <C>
*Cold-Forming Tools/Machines *Refiner Plates *Metal-Injection-Molding
*Machine Tools *Screen Cylinders *Metal-Matrix-Composites
*Fabricated Masts *Refiner Rebuilds *ThixoFormed(TM) Parts
- Automotive - Pulp and Paper - Automotive
- Appliance - Electronics
- Medical - Medical
- Agricultural - Firearms
- Fastener Manufacturers - Power/Hand Tools
- General Industrial - Telecommunications
- Aerospace - Aerospace
- Construction - Computer Cases
- Lift Trucks - Consumer Products
- Electronics Packaging
*Brand Names
- Reed-Rico(R)
- Eldorado
- Fastener Engineers
- Astro Punch(R)
- Lewis Machine
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - PCC SPECIALTY PRODUCTS
(Bar Chart Depicting PCC Specialty Products Base/Acquisition
Growth - 1995 Pro Forma, 1997, 1998, 2001 Forecast)
<TABLE>
<CAPTION>
1995 Pro Forma 1997 1998 2001 Forecast
<C> <C> <C> <C>
- Base - Base - Base - Base
- Base Growth 2% - Base Growth 15% - Base Growth (9%)
- Acquisition 73% - Acquisition 118% - Acquisition 132%
Total 75% Total 133% Total 123%
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - J&L FIBER SERVICES
(Bar Chart Depicting J&L Fiber Services Base/Acquisition Growth -
1998 Pro Forma, 1999, 2000, 2001 Forecast)
<TABLE>
<CAPTION>
<C> <C> <C> <C>
1998 Pro Forma 1999 2000 2001 Forecast
- Base - Base - Base - Base
- Base Growth 12% - Base Growth 12% - Base Growth 10%
</TABLE>
<PAGE>
BASE/ACQUISITION GROWTH - ADVANCED FORMING TECHNOLOGY
(Bar Chart Depicting Advanced Forming Technology Base/
Acquisition Growth -1995 Pro Forma, 1998, 2000, 2001 Forecast)
<TABLE>
<CAPTION>
<C> <C> <C> <C>
1995 Pro Forma 1998 2000 2001 Forecast
- Base - Base - Base - Base
- Base Growth 49% - Base Growth 49% - Base Growth 89%
- Acquisition 34% - Acquisition 24%
Total 83% Total 113%
</TABLE>
<PAGE>
REVENUE BY INDUSTRY
INDUSTRIAL PRODUCTS
(PIE CHARTS DEPICTING FY 1999, FY 2000, FY 2001 FORECAST)
[Pie Chart Depicting [Pie Chart Depicting
FY 1999] FY 2000]
$223,400,000 $219,200,000
Automotive - 35% Automotive - 33%
Pulp & Paper - 30% Pulp & Paper - 29%
Other*- 22% Other* - 22%
Industrial Suppliers - 7% Industrial Suppliers - 12%
Industrial Processing - 6% Industrial Processing - 4%
[Pie Chart Depicting
FY 2001 Forecast]
Automotive - 30%
Pulp & Paper - 27%
Other*- 21%
Industrial Suppliers - 13%
Industrial Processing - 9%
*"Other" includes electronics, appliances, consumer, firearms/ordnance,
medical, etc.
<PAGE>
FY01 Outlook
------------------
Industrial Products
- Strong rebound for PCC Olofsson
- New designs
- Offshore manufacturing
- International sales for PCC Superior Fabrication
- Distribution
- Aftermarket focus
- Some market recovery for Reed-Rico(R)/Astro Punch(R)
- Fastener Engineers acquisition looks promising
- PCC synergies
- Manufacturing/engineering improvements
- International opportunities
<PAGE>
FY01 Outlook
------------------
Industrial Products
- J&L opportunities
- SmartPlates(TM)
- Refiner rebuilds
- E-business
- Corporate contracts
- Strong growth in Asia
- Manufacturing cost reductions
- Increased sales in all AFT product lines
- ThixoForming(TM) profitability
- MIM market growth
- Composites profitability
- Strong partnering relationships in strategic markets
- On track for 20% sales growth and 2X FY00 earnings in FY01
<PAGE>
TOTAL BASE/ACQUISITION GROWTH - 1985-2001 FORECAST
[Bar Chart Depicting PCC Total Base/Acquisition Growth
for Years 1985, 1986, 1995, 1997, 2000 and 2001 Forecast]
<TABLE>
<CAPTION>
1985 1986 1995
---- ---- ----
<S> <C> <C>
Base Base Base
Base Growth 49% Base Growth 46%
Acquisition 34% Acquisition 201%
Total 145% Total 247%
1997 2000 2001(forecast)
---- ---- ----
Base Base Base
Base Growth 96% Base Growth 117% Base Growth 161%
Acquisition 516% Acquisition 1263% Acquisition 1402%
Total 612% Total 1380% Total 1563%
</TABLE>
<PAGE>
Summary
------------
- Strong aerospace market
- Increased share in growth engine programs
- Regional market increasingly important
- Airframe growth
- IGT market showing continued strength
- Share gain in forgings, castings, and Fluid Management products
- Wyman-Gordon on track to beat initial cost-savings goals
- Offshore manufacturing
- Synergies
- Groton/Tilton turnaround
- Forging cost takeout
- Volume opportunities
- Buffalo closing
<PAGE>
Summary (cont'd)
----------------------
- PCC Flow Technologies positioned for improved sales and earnings
- Expanded distribution/products
- Productivity improvements
- European synergies
- Aftermarket opportunities
- Recovery of key markets
- Increased profitability forecast for Industrial Products
- New designs
- Aftermarket penetration
- Distribution
- Productivity
- International manufacturing
- Market enlargement
<PAGE>
[GRAPHIC OF PRECISION CASTPARTS CORP. LOGO]
