Visual Presentation

Investor Presentation

January 11, 2006

The Power of People and Ideas

Agenda

•

Metaldyne Overview

•

Product/Customer Strategy

•

Sales Update

•

Financial Review

The Power of People and Ideas

Metaldyne Overview

The largest independent supplier of engine, driveline and chassis components,
systems and modules to the global automotive industry

Note: N.A. Forging is excluded in the numbers above from Powertrain and Chassis.
For external purposes $26 million and $16 million of N.A. Forging relate to Powertrain in 2004 and 2005 Q2
YTD respectively; and $320 million and $183 million relate to Chassis in 2004 and 2005 Q2 YTD respectively.

2004 Sales (Actual): $826
2005 Sales (Q2 YTD): $505
Q2 2005 YTD up 24% versus 2004

2004 Sales (Actual): $832
2005 Sales (Q2 YTD): $464
Q2 2005 YTD up 10% versus 2004

2004 Sales (Actual): $346
2005 Sales (Q2 YTD): $199
Q2 2005 YTD up 14% versus 2004

Metaldyne Product Structure

The largest independent supplier of engine, driveline and chassis components,
systems and modules to the global automotive industry

Steering & Rear Knuckles

Upper & Lower
Control Arms

Mini-Corner Assemblies

Wheel Spindles

Wheel Hubs

Connecting Rods & Bearing Caps

Front Engine Modular Assemblies

Balance Shaft Modules

Exhaust Manifolds

Crankshaft Dampers & Isolation
Pulleys

Powertrain

Chassis

2004 Sales (Actual): $826
2005 Sales (Q2 YTD): $505
Q2 2005 YTD up 24% versus 2004

2004 Sales (Actual): $832
2005 Sales (Q2 YTD): $464
Q2 2005 YTD up 10% versus 2004

Metaldyne Product Structure

2000

MascoTech Auto

2005E

Metaldyne

Metaldyne
Core Products

N.A. Forging

45%

55%

14%

86%

Sales Revenue 2000 / 2005E / 2009 E

10%

90%

2009E

Metaldyne

Growth Strategy - Metaldyne Transformation

Sales

EBITDA

$112

$135

$164

Metaldyne Update

Metaldyne achieved top line growth of
approximately 11.7% through Q3 YTD 2005,
despite a 1.3% decline at Big Three
automakers over the past year.

Best Q3 YTD EBITDA performance
in company history.

Business model has been strongly
embraced by OEMs.

$400mm in new business
awards launching in 2005

Global footprint now established with expansion
continuing in China and Korea

Diversification in Metaldyne’s
customer base continues.

Growth with Toyota, Honda, Nissan,
Hyundai, Renault and BMW

Modules replacing components

2005 Highlights

Market Performance

$294.8 Million Q3 YTD in new business awards

New Castle awarded knuckles and control
arms for North American OEMs

Korea and Fremont Awarded Balance Shaft Modules

Hamburg and North Vernon Awarded Exhaust Products and
Connecting Rods

Barcelona and Lyon Awarded Engine NVH Products

2005 Highlights

Other Key Initiatives

Completed Final AR Securitization with GE

Added Estimated $30-40m of Additional Liquidity on Daily Basis vs. Old Facility

Successfully Addressed Risks of GM/Ford Downgrade

Signed Agreement to Sell North American Forging Business

Received Hyundai Supplier award

GM and Hyundai Conn Rod Launches

PSA NVH Product Launch

Launch of New Plant in Hangzhou, China

Facility Groundbreaking in Suzhou, China

Historical CAPEX
reinvestment has averaged
over 75% of EBITDA since 2002

New business model implemented,
expanded technologies, growing global
footprint

Metaldyne’s revenue base
expected to grow through 2010

Current estimates of “awarded” business
launching through 2009 over $650 million

Over $150 million of “highly probable” business

Over $700 million of “tracking business” in
discussion

2006 Capital Expenditures expected to be $75 million.

2006 expected to be CASH FLOW POSITIVE

Historical and Forecasted CAPEX (millions $)

Metaldyne has invested more than industry
to change business model...

…However, 2006 capital will be
more in line with industry.

Spend
$200 million
above industry
average.

5 Years of Significant Investment

The Power of People and Ideas

Product/Customer Strategy

Existing Facility in 2001

New Since 2001

Canada

Mexico

Brazil

EUROPE

United Kingdom

France

Germany

Czechia

Italy

Spain

ASIA

Japan

Korea

China

India

Sales
and /or
R&D

Engine
Products

PM & Con
Rod

Vibration
Control

Hydraulic
Controls

Chassis
Products

Forgings

United States

Driveline
Products

TBD

Metaldyne Global Footprint - Current

Growth Strategies

Increase Value-Add Content

Pursue OEM Outsourcing

Acquire Strategic OEM Assets / Businesses

Leverage Market Consolidation

Expand Core Capabilities Globally

Connecting Rods

Valve Bodies

Balance Shaft
Modules

Mini Corner
Assemblies

Differential Case
Assemblies

Clutch Modules

Damper / Isolation
Pulleys

Key Products

Honda Pilot

Connecting Rods

Growth Strategy:

•

Increase Value-Add Content

•

Pursue OEM Outsourcing

Key Products

Hyundai Sonata

Balance Shaft
Modules

Growth Strategy:

•

Increase Value-Add Content

•

Expand Core Capabilities Globally

Key Products

Customer TBA

Differential Case
Assemblies

Growth Strategy:

•

Increase Value-Add Content

•

Pursue OEM Outsourcing

Key Products

Ford Explorer

Clutch Modules

Growth Strategy:

•

Increase Value-Add Content

•

Pursue OEM Outsourcing

Key Products

Chrysler 300C

Mini Corner
Assemblies

Growth Strategy:

•

Increase Value-Add Content

•

Pursue OEM Outsourcing

•

Acquire Strategic OEM Business

•

Leverage Market Consolidation

•

Expand Core Capabilities Globally

Key Products

SGM / Daewoo Magnus

Valve Bodies

Growth Strategy:

•

Increase Value-Add Content

•

Expand Core Capabilities Globally

Key Products

Renault Laguna

Growth Strategy:

•

Increase Value-Add Content

•

Leverage Market Consolidation

Damper / Isolation
Pulleys

Key Products

The Power of People and Ideas

Sales Update

2005

OEM Total Sales

⁽¹⁾Sales to end vehicle platforms (sees through Tier 1 sales relationships)

⁽²⁾Includes sales that are currently being manufactured; business that has been “awarded” (with a purchase order and/or letter of intent
in Company possession); “highly probable” quoted business that has a prototype order or an encouraging letter from the customer; and
other “tracking” business that has been quoted to the customer.

2009

2005

OEM Total Sales

⁽¹⁾Sales to end vehicle platforms (sees through Tier 1 sales relationships)

2009

Key Customer Growth:
7% - 20%

2006 New Program Launches	Peak Sales ^(millions)
Knuckles/Knuckle Modules	41.6
Control Arms	8.6
Dampers	16.3
Connecting Rods	35.6
Valve Bodies	25.2
Differential Gears/Assemblies	64.3
Balance Shaft Modules	30.7
Wheel Hubs	10.6
Other	160.9

2006 New Program Launches Approximately $400 million

2006 New Program Launches

Key 2006 Forecast Assumptions

Vehicle Production consistent
with CSM forecast

–

GM 0.4% increase, Ford 3.4%
decline and DCX 0.8% decline

–

Total Big 3 Production 1.1% decline

–

Total NAFTA Production 0.3%
increase

		(millions)
2005 Q3 LTM Sales	$	2,180
Less: Q3 LTM NAF Sales ⁽¹⁾	$	(318)
Adjusted 2005 Q3 LTM Sales	$	1,862
Net of $47.3 million of inter-company sales

Sales Outlook

Metaldyne’s Building Blocks of Success

Large Reliance on DaimlerChrysler
in North American Market

Product-focused Growth Strategies Built Upon
Value-Added Content to all Customers

Rapid Expansion of Asia Footprint and Customers

Primary Emphasis on Operating Acumen

The Power of People and Ideas

Financial Review

18.7% reduction in production for Big 3 in North America since
2000

Increases in raw material cost approximately equal to 100% of
historical EBITDA

Unexpected deterioration of North American Forging business

In 2000 this business represented approximately 59% of EBITDA while in
2004 it represented only 15%

Completed accounting investigation

Stemming from issues predating formation of Metaldyne and current
management team

Industry wide liquidity crunch… while Metaldyne invested record
amounts of capital required to change the business model

⁽¹⁾ Per internal financial statements

Financial Review

400,000

800,000

1,200,000

1,600,000

2,000,000

2001

2002

2003

2004

Q3 05

LTM

90,000

130,000

170,000

210,000

Sales

EBITDA

Sales vs. EBITDA – 2001 Thru Q3 2005

Includes New Castle in 2004 and 2005;
excludes TriMas

Historical Financials | Excluding Forging

Recent Quarter End Liquidity History

North American Forging divestiture – Asset
Purchase Agreement signed

$79.2M in cash and retain accounts receivable
(approx. $40M)

Buyer assumes IRB of $7.5M

Over $12M of required Letter of
Credit go with deal

Buyer retains all other working capital
(post sale true up at $3.5M)

Bank amendment will determine
total liquidity effect

Equipment Financing Facility –
Completed on 12/20/05

Utilized approx. $11M with approx. $9M
additional to be used in first half of 2006

Operating Performance

EBITDA growth combined with capital
spending reduction

Alternative Opportunities

Buyout aged/accretive operating leases

Mexico sale leaseback

TriMas stock

Strategy for Achieving Quarter-End
Liquidity over $200M

Represents quarter-ended liquidity position as consistently
calculated. Note that this number tends to inflate quarter-end
liquidity due to quarter-end cash collections.

Liquidity Strategy

($ in millions)

NA Forging will be reported as discontinued
operations on the 2005 financial statements.
This is not reflected on this format.

Costs to divest NA forging business not included

Expected to incur significant non-cash loss upon
sale

Q4 2005 does not include an estimate for
Fixed Asset gains and losses.

Operating Profit and Adjusted EBITDA
include

2004:

$2.8 million in fees relating to the 2004
accounting investigation.

2005:

$3.6 million FAS 106 curtailment gain

Approximately $1.0M of severance

Approximately $0.6M of Sarbanes Oxley costs

Q4 2005 Preliminary Outlook

The Power of People and Ideas

Appendix

($ in 000s)

Q3 2004 EBITDA
contains a $4.5
million reduction
of management
incentive
compensation.

Q3 2005 Performance

(1) The Company defines Adjusted EBITDA as net income (loss) before cumulative effect of
accounting change and before interest, taxes, depreciation, amortization, asset impairment,
non-cash losses on sale-leaseback of and equipment and non-cash restricted stock award
expense. See reconcilation of Net Income to Adjusted EBITDA in the appendix.

(2) Note that the Company received approximately $19 million and $84 million in the third quarter
and the YTD third quarter of 2005 respectively in pricing related to material cost increases for the
components it manufactures. However, these cost increases were a direct pass through to the
customers and the Company did not make any margin on this price increase. Adjusting sales to
eliminate this price increase, margin would have been 0.3% higher in the third quarter and 0.5%
higher in the YTD third quarter of 2005.

(3) Restructuring expense mainly due to reduction in headcount in response to 2005 and 2004
economic conditions.

($ in millions - except per share data)

Income Statement

($ in millions)

Summary Balance Sheet

($ in millions)

Metaldyne Undrawn Commitments at 10-02-05

The Power of People and Ideas