Brands That Matter 10B Glenlake Parkway, Suite 300, Atlanta, Georgia 30328 www.newellrubbermaid.com/brands 2005 ANNUAL REPORT Brands That Matter Board of Directors Newell Rubbermaid is a branded consumer and commercial 2005 NET SALES $6.3 BILLION BY SEGMENT (Standing, Left to Right) Scott S. Cowen products company that touches the lives of people where they Gordon R. Sullivan President, Tulane University work, live and play. Our brands matter to consumers by making President, Association Age 59 of the United States Army Director since 1999 daily living more convenient and comfortable. Our brands matter Age 68 Director since 1999 (Sitting, Left to Right) in the workplace by promoting higher productivity and increased Raymond G. Viault Cynthia A. Montgomery Retired Vice Chairman, safety for people who use them every day. Long-term success OFFICE CLEANING & PRODUCTS Professor, Graduate School General Mills, Inc. requires partnering with and supporting our customers and ORGANIZATION of Business Administration, Age 61 27% Harvard University Director since 2002 developing our employees. 25% Age 53 Director since 1995 Allan P. Newell Private Investor Our priority is to increase value for shareholders. We will succeed William D. Marohn Age 60 HOME Chairman of the Board, Director since 1982 through our commitment to increasing investment in new product TOOLS & Newell Rubbermaid Inc. FASHIONS development and brand building, continuously improving our HARDWARE Former Vice Chairman, Elizabeth Cuthbert Millett 13% Whirlpool Corp. Private Investor 20% Age 49 cost structure, and strengthening our portfolio. We are are excited OME Age 66 H & Director since 1999 Director since 1995 about the opportunities that lie ahead and are well-positioned for FAMILY future growth. 15% Mark D. Ketchum Thomas E. Clarke President & Chief Executive President, New Business Officer, Newell Rubbermaid Inc. Ventures, Nike, Inc. Age 56 Age 54 Director since 2005 Director since 2003 Michael T. Cowhig (Not pictured) MEASURING OUR FINANCIAL PERFORMANCE President, Global Technical & Steven J. Strobel Manufacturing - Gillette - Vice President and Corporate We delivered on our key financial commitments in 2005, strategically exiting low-margin product lines while growing The Procter & Gamble Co. Controller, Motorola, Inc. high-margin sales, expanding gross margins by 130 basis points(1), making critical strategic investments behind our brands Age 58 Age 48 and driving higher free cash flow. This performance, particularly against the record raw material inflation we faced, gives Director since 2005 Director since 2006 us momentum and confidence heading into 2006. Executive Officers INTERNAL GROSS OPERATING FREE CASH SALES GROWTH MARGIN(1) INCOME(2) FLOW(3) Mark D. Ketchum Shaun P. Holliday Raymond J. Johnson Dale L. Matschullat J. Patrick Robinson (percent change) (percent of net sales) (percent of net sales) ($ in millions) President & Chief Executive President , President , Global Vice President, Vice President, Officer New Business & Innovation Manufacturing General Counsel and Chief Financial Officer Net sales growth for Net sales less cost of products Operating income, excluding Cash flow provided Age 56 Age 48 and Supply Chain Corporate Secretary Age 50 businesses owned longer sold, excluding charges, charges, as a percentage of sales by operations less Joined company 2005 Joined company 2005 Age 50 Age 60 Joined company 2001 than one year, including as a percentage of sales capital expenditures Joined company 2002 Joined company 1989 minor acquisitions and divestitures Hartley D. Blaha Timothy J. Jahnke Steven G. Marton James J. Roberts James M. Sweet President , Group President , Group President, President and Chief Vice President, Corporate Development Home & Family Products Office Products Group Operating Officer, Human Resources Age 40 Group Age 49 Rubbermaid/IRWIN Group Age 53 Joined company 2003 Age 46 Joined company 2004 Age 47 Joined company 2004 11.1% 29.9% $550 Joined company 1986 Joined company 2001 2.1% $538 10.0% 9.6% $473 28.7% 28.6% Brand Web Directory and other information about Newell Rubbermaid Stockholder Account Maintenance bernzomatic.com are available without charge to interested Communications concerning the transfer of shares, calphalon.com stockholders upon request. lost certificates, dividends, dividend reinvestment, -2.5% -1.7% dymo.com receipt of multiple dividend checks, duplicate expomarkers.com All requests and inquires should be directed to: mailings or change of address should be directed goody.com to the Transfer Agent and Registrar: gracobaby.com Newell Rubbermaid Inc. The Bank of New York irwin.com Investor Relations Shareholder Relations Dept. 8W lenoxsaw.com 10B Glenlake Parkway, Suite 300 PO Box 11258 papermate.com Atlanta, GA 30328 Church Street Station rubbermaid.com 800-424-1941 New York, NY 10286 sharpie.com [email protected] 800-432-0140 waterman.com www.newellrubbermaid.com www.stockbny.com '05 '03 '04 '05 '03 '04 '05 '03 '04 '05 '03 '04 Newell Rubbermaid is traded on the New York Annual Meeting of Stockholders This annual report should be read in conjunction Stock Exchange under the symbol NWL. The annual meeting of stockholders will be held May 9, 2006, 9:00 a.m. local time at: with Newell Rubbermaid’s 2006 annual meeting proxy statement and the 2005 Form 10-K. Copies Additional copies of this annual report, of the proxy statement and Form 10-K may be (1), (2) and (3) Please refer to the Reconciliation of Non-GAAP Financial Measures, provided as part of this annual report, for a reconciliation to the most directly comparable GAAP financial measure. Newell Rubbermaid’s Form 10-K and proxy Georgia Tech Hotel and Conference Center obtained online at www.newellrubbermaid.com. Products on Front Cover (starting at top, from L to R): Graco® Infant Safe SeatTM, Waterman® Exception fountain pen, Calphalon® OneTM Infused Anodized Aluminum sauce statement filed with the Securities and Exchange 800 Spring Street NW pan, DYMO® LabelWriter® label printer, LENOX® GoldTM reciprocating blade, BernzOmatic® MAPP gas torch, Goody® Ouchless® brush, Sharpie® MINI permanent marker, Commission, dividend reinvestment plan Atlanta, Georgia 30308 NASCAR® is a registered trademark of the National Rubbermaid® Commercial Products Microfiber cleaning tools, Expo® dry erase markers and eraser, IRWIN® VISE-GRIP® GrooveLock pliers, and Paper Mate® Profile® information, recent and historical financial data (404) 347-9440 Association for Stock Car Auto Racing, Inc. retractable pen Home & Family With leading brands consumers 2005 2004 SALES $930.3M $965.4M know and trust, Home & Family OPERATING INCOME(5) $98.1M $92.0M businesses offer an extensive (5) OPERATING INCOME % 10.5% 9.5% line of premium kitchenware, infant and juvenile products The recent introduction of and hair care products. Katana SeriesTM cutlery delivers high-quality and exceptional The Graco® brand represents the sharpness through the use of highest commitment to quality a special Japanese steel. and safety for juvenile products. From strollers and car seats to high chairs, playards and monitors, Graco From the Ouchless® Brush Collection to the Revolving delivers dependable and innovative solutions for the Fashion collection of accessories inspired by the latest next generation. trends in fashion, Goody® is the brand of choice for stylish women. Goody StayPutTM Elastic bands are Our leadership in the premium housewares favorites among the growing population market is built upon Calphalon’s of active, athletic and fit women. reputation for innovative cookware, cutlery and bakeware. Calphalon’s For decades, Little Tikes® toys Brands That Matter For Daily Living... commitment to the research and have brought countless hours of Whether for home or office, our innovative, high-quality products meet consumers’ needs and desires by enhancing development of revolutionary entertainment to children. The comfort, improving convenience and creating enjoyment. Our commitment to innovation begins by understanding cooking surfaces, such as Calphalon® MagiCookTM Kitchen, BC BuildersTM consumers’ preferences and using those insights to design, test and deliver solutions, like our compact, tri-fold Graco® TM ® OneTM Infused Anodized Aluminum playsets and Cozy CoupeTM ride-ons Mosaic stroller, and our bold Expo dry erase markers used in offices and classrooms around the world. and Contemporary Stainless Steel, are among the many playthings ensures the ideal culinary experience for all cooks. we offer that deliver creative and imaginative fun. Home Fashions 2005 2004 Our global collection of window furnishing brands, SALES $824.0M $906.8M including Levolor®, Kirsch® and Gardinia®, captures OPERATING INCOME(5) $22.7M $33.0M (5) and delivers home décor trends to the consumer. Our OPERATING INCOME % 2.8% 3.6% Home Fashions brands meet a variety of styles and tastes, with window furnishings offered through both custom and size-in-store programs and drapery hardware. The Home Fashions group continues to set the trend in decorative window fashions with vertical, aluminum and wood blinds, cellular and woven wood shades, sheer vertical window treatments, and decorative hardware. (5) Please refer to the Reconciliation of Non-GAAP Financial Measures, provided as part of this annual report, for a reconciliation to the most directly comparable GAAP financial measure. P. 9 / 2005 NEWELL RUBBERMAID ANNUAL REPORT 2005 NEWELL RUBBERMAID ANNUAL REPORT / P. 2 We refer to these as “Invest” businesses.