2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 36 GENERAL DYNAMICS CORPORATION GENERAL MOTORS GOLDMAN SACHS GROUP, INC. GOODYEAR TIRE & RUBBER COMPANY March22,2018 DearFellowShareholder: Wearepleasedtosendyouthe2018GeneralDynamicsProxyStatement.Weremaincommittedtosoundcorporategovernanceandto astronglinkbetweenexecutivepayandcompanyperformanceinourexecutivecompensationprogram.Thedetailsofourgovernance andexecutivecompensationprogramsarecontainedinthisProxyStatementandreferenceddocuments. Ourshareholderengagementprogramcontinuedin2017andremainsakeyfocusforourcompanytoensureweareawareofyourtop priorities. Over the past year, we have spoken with shareholders about a number of critical topics, including our company strategy, executive compensation program and corporate governance practices. We continue to be encouraged by the positive shareholder feedback regarding our corporate governance and executive compensation programs. We value the input we receive from our shareholders. Our Board continues to reflect a diverse and well-qualified group of business leaders, aerospace and defense industry experts and financial and strategic advisors. To ensure that our Board represents diverse skills and experiences, we have added several new directorsthroughathoughtfulanddeliberateprocessoverthepastseveralyears.WardNye,whoisnominatedforelectiontotheBoard attheAnnualMeeting,willbringextensiveknowledgeofmanufacturingandindustrialoperations,aswellasprovidingadditionalpublic companygovernanceperspectivetotheBoard. Twoofourlonger-servingdirectorswillberetiringfromtheBoardinMaypursuanttoourDirectorRetirementPolicy.Wearegratefulto Mr. Chabraja for his wise counsel and 24 years of service on the Board, including 13 years as our Chairman. Mr. Keane joined our Boardin2004andweappreciatethesoundguidancehehasprovidedovertheyears. Ourcompanyenjoyedoutstandingoperatingperformancein2017.Revenue,operatingearnings,operatingmargin,returnonsalesand earnings per share all increased from 2016. Free cash flow and return on invested capital, two key metrics for our executive compensation program, also increased, with free cash flow representing 119 percent of earnings from continuing operations. Our backlogincreasednearly$1billionfrom2016,supportingourlong-termgrowthexpectations. On behalf of the Board of Directors, I invite you to attend the 2018 Annual Meeting of Shareholders and, even if you are not able to attend,encourageyoutovotebyproxy.TheaccompanyingProxyStatementcontainsinformationaboutthemattersonwhichyouare asked to vote. I urge you to read the materials carefully and vote in accordance with the Board of Directors’ recommendations. Your voteisveryimportant. Sincerely, PhebeN.Novakovic ChairmanandChiefExecutiveOfficer 2941FairviewParkDrive,Suite100 FallsChurch,Virginia22042 The Long-Term View: A ConversationwithMaryBarra, TimSolso,andPat Russo GeneralMotors’ChairmanandCEO,MaryBarra, IndependentLeadDirector,TimSolso,and GovernanceandCorporateResponsibility (“Governance”)CommitteeChair,PatRusso, discusstheBoard’sapproachtodrivinglong- termshareholdervalueandtheimportanceof meaningfulshareholderengagement.They alsoexplainwhyGM’sBoardhastherightmix ofexpertise,talent,anddiversitytoactively overseetheexecutionofGM’sstrategyinthis timeofrapidindustrychange. MARYT.BARRA Chairman&CEO THEODOREM.SOLSO IndependentLeadDirector PATRICIAF.RUSSO GovernanceCommitteeChair Howdoyouvalidatewhetheryouaredoingtherightthingsfor shareholders?Deliveringvaluenowandbuildingforthefuture? MARY: We have shared our strategy to transform GM, which is about driving excellence in our core business, while defining a futureformobility.Webelievethebestwaytovalidatewhetherour approach is creating shareholder value is to deliver exceptional business results today while investing to lead in the future. By refocusing our finite resources during the past several years – including actions to either improve or exit underperforming businesses and to invest our capital in higher-return opportunities–wehaveachievedresultsthatspeakforthemselves: three consecutive years of record financial performance. We have also made significant investments in technology and innovation that have positioned GM as a leader in the future of personal mobility.ThisviewissharedbythirdpartieslikeNavigantResearch, whichrankedGMastheleaderinautonomousvehicletechnology, aheadof18technologyandautomotivecompetitors. What’snext?Whatstepsareyoutakingtoincreaseshareholder value? MARY: We are a focused, more disciplined company. We will continuetotransformourcorebusiness,investinkeytechnologies thatareenablingustoleadinthefutureofpersonalmobility,and deploy capital to higher-return opportunities. In 2017, GM announceditsvisionforaworldwithzerocrashes,zeroemissions, andzerocongestion.Wearedevelopingthetechnologiesthatwill create this future, blending global insights with local market expertise as the automotive industry transforms from traditional manufacturingtotransportationservices. The strong foundation and the increased flexibility we have created will enable us to take further actions–operational, financial,andtechnological–thatwebelievewilldeliverincreased valueforourshareholders. Theautomobileindustryisundergoingaperiodofprofound change.HowdoestheBoardpositionGMtoemergeasaleader? TIM: The industry is changing quickly. Staying ahead means you havetobeopentonewideasandinviteinputthatchallengesyou with different thinking and perspectives. Our shareholder engagement process is an effective channel for the Board to hear these perspectives. Directors frequently meet with shareholders and can then bringshareholder viewsinto the boardroom.During 2017, members of the Board met in person with shareholders representingapproximately25%ofouroutstandingcommonstock. We also invite large, long-term investors in GM and sell-side research analysts to meet with the full Board to share their unfilteredviewsonanannualbasis. Shareholder engagement is invaluable because it gives us a first- hand perspective on what is important to our shareholders as we make strategic, financial, and operational decisions. Using this approach, the Board has worked closely with management in recent years as it executed a number of key strategic actions to transform our core business and lead in the future of personal mobility.Theseincludedthedecisiontoexitunprofitablemarkets, suchasEuropeandSouthandEastAfrica,infavorofhigher-return opportunities that include growing the Cruise Automation team and acquiring LiDAR provider Strobe, Inc. to accelerate GM’s leadershipinself-drivingvehicletechnology. G E N E R A L M O T O R S 2018 PROXYSTATEMENT i March9,2018 Dear Fellow Goodyear Shareholder, ThankyouforyourcontinuedinvestmentinGoodyear.Iandtherest oftheBoardinviteyoutoattendthe2018AnnualMeetingof Shareholders. Thisyear’sproxystatementreflectsourcontinuedfocusonour strategy,anengagedandeffectiveBoard,transparentcorporate governanceandexecutivecompensationstructures,andregular communicationwithourshareholders. OURPERFORMANCEIN2017 Wedeliverednetincomeof$346million,whichwasimpactedbya one-time,non-cashchargeof$299millionduetoU.S.taxreform, andsegmentoperatingincomeofover$1.5billionin2017.Our performancefellshortofourgoalsduetohigherrawmaterialcosts andweakdemandinmanyofourkeymarkets,despitefavorable trendsinmilesdriven,gasolinepricesandunemployment. Weendedtheyearwithastrongrecoveryinunitvolumesinthe fourthquarterof2017.Iwasparticularlypleasedwithour performancein17-inchandgreaterrimsizesegmentsofthe industry,wherewegrewalmostdoubletherateofthatsegmentof theoverallconsumerreplacementmarket.Iamconfidentinour abilitytobuildonthatmomentumintheyearahead. OURSTRATEGY Weremaincommittedtoourstrategywhichfocusesoncapturing profitablegrowthinattractivemarketsegments,mastering increasingcomplexityandconnectingeffectivelywithconsumers. Ourstrategyisdesignedtotakeadvantageofthelong-termtrends shapingourindustry,particularlyinthelargerrimsizesegmentof themarket.ThisiswhereGoodyearcanaddvaluewithour innovationleadership,award-winningproducts,strongglobalbrand, alignedretailanddistributionnetwork,andalltheothercapabilities thatwebringtobearinthemarketplace.Thecombinationofthese elementsdrivesvalueforourcustomersandconsumersandis whereGoodyearcontinuestodemonstrateitscompetitiveadvantage. Wehavecontinuedtoexecuteagainstourstrategy,andwehave positionedthecompanyintherightwayforthelongterm.Asa result,Icontinuetobeoptimisticabouttheopportunitiesforgrowth. Therecertainlywillbeobstaclestoovercomeaswepursueour objectives,butweremainconfidentinourabilitytoaddressthese challengesastheyariseandweremaincommittedtocreating sustainableeconomicvalueforourcompanyandourshareholders. OnbehalfofourBoardofDirectors,thankyouforyourcontinued support.Welookforwardtowelcomingyouatourannualmeeting. Sincerely, RichardJ.Kramer ChairmanoftheBoard, ChiefExecutiveOfficerandPresident Total of 02 pages in section LetterfromourChairmanandCEO Letter from our Chairman and CEO March23,2018 FellowShareholders: Youarecordiallyinvitedtoattendthe2018AnnualMeetingofShareholdersofTheGoldmanSachsGroup,Inc.We willholdthemeetingonWednesday,May2,2018at8:30a.m.,localtime,atourofficesinJerseyCity,New Jersey.Enclosedyouwillfindanoticesettingforththeitemsweexpecttoaddressduringthemeeting,aletter fromourLeadDirector,ourproxystatement,aformofproxyandacopyofour2017annualreporttoour shareholders. Inour2017lettertoourshareholders,whichisincludedintheannualreport,wedescribeourfocusinachieving sustainableearningsgrowthandthestrategicinitiativesthataredrivingprogressineachofourmajorbusinesses. Wealsodiscusshowtheoperatingenvironmenthasshiftedandthepotentialimplicationsforourbusinesses.We arecommittedtoprovidingourshareholderswithlong-termvalue,andwehopethatyouwillfindtheletter informative. IwouldliketopersonallythankyouforyourcontinuedinvestmentinGoldmanSachs.Welookforwardto welcomingmanyofyoutoourannualmeeting.Yourvoteisimportanttous:evenifyoudonotplantoattendthe meetinginperson,wehopeyourvoteswillberepresented. LloydC.Blankfein ChairmanandChiefExecutiveOfficer ProxyStatementforthe2018AnnualMeetingofShareholders | GoldmanSachs ii Total of 03 pages in section