$$\frac{x^2 + 4x + 4}{x^2 + 2xy + y^2} \cdot \frac{(x + y)^4}{(x + 2)^5} = \frac{(x + 2)^2}{(x + y)^2} \cdot \frac{(x + y)^4}{(x + 2)^5} = \frac{(x + 2)^2(x + y)^4}{(x + y)^2(x + 2)^5} = \frac{(x + y)^2}{(x + 2)^3}$$
Ответ: $$\frac{(x + y)^2}{(x + 2)^3}$$