the beautifuldoor

November 2016

3Q16 Earnings Presentation

2

SAFE HARBOR / FORWARD LOOKING STATEMENT

This investor presentation contains forward-looking information and other forward-looking statements within the meaning of applicable Canadian and/or U.S. securities laws, including our discussion of

our long term growth framework, housing and other markets, and the effects of our strategic initiatives. When used in this Investor Presentation, such forward-looking statements may be identified by

the use of such words as “may,” “might”, “could,” “will,” would,” “should,” “expect,” “believes,” “outlook,” “predict,” “forecast,” “framework,” “objective,” “remain,” “anticipate,” “estimate,” “potential,”

“continue,” “plan,” “project,” “targeting,” or the negative of these terms or other similar terminology.

Forward-looking statements involve significant known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Masonite, or industry

results, to be materially different from any future plans, goals, targets, objectives, results, performance or achievements expressed or implied by such forward-looking statements. As a result, such

forward-looking statements should not be read as guarantees of future performance or results, should not be unduly relied upon, and will not necessarily be accurate indications of whether or not such

results will be achieved. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements include, but are not limited to, our ability to successfully

implement our business strategy; general economic, market and business conditions; levels of residential new construction, residential repair, renovation and remodeling and non-residential building

construction activity; the United Kingdom referendum to exit the European Union; competition; our ability to manage our operations including integrating our recent acquisitions and companies or assets

we acquire in the future; our ability to generate sufficient cash flows to fund our capital expenditure requirements and to meet our debt service obligations, including our obligations under our senior

notes and our senior secured asset-backed credit facility; labor relations (i.e., disruptions, strikes or work stoppages), labor costs, and availability of labor; increases in the costs of raw materials or any

shortage in supplies; our ability to keep pace with technological developments; the actions by, and the continued success of, certain key customers; our ability to maintain relationships with certain

customers; new contractual commitments; our ability to generate the benefits of our restructuring activities; retention of key management personnel; environmental and other government regulations;

limitations on operating our business as a result of covenant restrictions under our existing and future indebtedness, including our senior notes and senior secured asset-based credit facility; and other

factors publicly disclosed by the company from time to time.

NON-GAAP FINANCIAL MEASURES

Our management reviews net sales and Adjusted EBITDA (as defined below) to evaluate segment performance and allocate resources. Net assets are not allocated to the reportable segments.

Adjusted EBITDA is a non-GAAP financial measure which does not have a standardized meaning under GAAP and is unlikely to be comparable to similar measures used by other companies. Adjusted

EBITDA should not be considered as an alternative to either net income or operating cash flows determined in accordance with GAAP. Additionally, Adjusted EBITDA is not intended to be a measure of

free cash flow for management's discretionary use, as it does not include certain cash requirements such as interest payments, tax payments and debt service requirements. Beginning with the third

quarter of 2015, we revised our calculation of Adjusted EBITDA to separately exclude loss (gain) on disposal of subsidiaries. This definition of Adjusted EBITDA differs from the definitions of EBITDA

contained in the indenture governing the 2023 Notes and the credit agreement governing the ABL Facility. Adjusted EBITDA, as calculated under our ABL Facility or senior notes would also include,

among other things, additional add-backs for amounts related to: cost savings projected by us in good faith to be realized as a result of actions taken or expected to be taken prior to or during the

relevant period; fees and expenses in connection with certain plant closures and layoffs; and the amount of any restructuring charges, integration costs or other business optimization expenses or

reserve deducted in the relevant period in computing consolidated net income, including any one-time costs incurred in connection with acquisitions. The tables in the appendix to this presentation

reconcile Adjusted EBITDA to net income (loss) attributable to Masonite for the periods indicated. We are not providing a quantitative reconciliation of our Adjusted EBITDA outlook to the corresponding

GAAP information because the GAAP measures that we exclude from our Adjusted EBITDA outlook are difficult to predict and are primarily dependent on future uncertainties.

Adjusted EBITDA margin is defined as Adjusted EBITDA divided by Net Sales. Management believes this measure provides supplemental information on how successfully we operate our business.

Adjusted EPS for the quarter ended October 2, 2016 and September 27, 2015 is diluted earnings per common share attributable to Masonite (EPS) less asset impairment charges, loss (gain) on

disposal of subsidiaries and loss on extinguishment of debt, net of related tax expense (benefit). Management uses this measure to evaluate the overall performance of the Company and believes this

measure provides investors with helpful supplemental information regarding the underlying performance of the Company from period to period. This measure may be inconsistent with similar measures

presented by other companies.

Safe Harbor / Non-GAAP Financial Measures

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Quarterly Overview

the beautifuldoor

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Key Highlights

2016 year to date incremental Adj. EBITDA margin* >40%

2016 year to date net sales growth in NA Residential of 15%

DSI business exhibiting strength despite uncertainty in UK

Strategic focus to transform the Architectural business

Recently opened Digital Innovation Center

Solid progress on glide path to 2018 growth framework:

Increasing volume and accelerated operating leverage

Innovative new products and value-added services

Fair value for products

Driving operational efficiencies

(*) – See appendix for non-GAAP reconciliations

5

Financial Overview

Net sales +3% to $489.6 million

8% increase excluding Fx and MAL

Adj. EBITDA* +29% to $65.1 million

10th consecutive quarter of double-digit

Adj. EBITDA* growth

Adj. EBITDA margin* +270bps to 13.3%

Adjusted EPS* increased 44%

$44 million of shares repurchased

14th consecutive quarter of AUP growth

Interior vs. entry category growth rates

driving AUP change in NA & Europe

NA Residential - 2%

Europe +11%

Architectural +5%

(*) – See appendix for non-GAAP reconciliations

3Q 2016 Highlights Continued AUP Growth

-4%

-2%

0%

2%

4%

6%

8%

10%

Q3'1

1

Q4'1

1

Q1'1

2

Q2'1

2

Q3'1

2

Q4'1

2

Q1'1

3

Q2'1

3

Q3'1

3

Q4'1

3

Q1'1

4

Q2'1

4

Q3'1

4

Q4'1

4

Q1'1

5

Q2'1

5

Q3'1

5

Q4'1

5

Q1'1

6

Q2'1

6

Q3'1

6

6

Architectural Transformation

Migration to common door chassis

Product and specification optimization

Rationalizing manufacturing footprint

Improved ability to flex production

across multiple plants

Manufacturing Footprint

Product OptimizationBranding

ERP Implementation

Unparalleled

Service

Compelling Product

Offering

Specify with

Confidence

Announced closing of Algoma, WI

manufacturing facility

Estimated annual cost savings of $5mm

Estimated completion date by the end of

3Q17

Estimated $4.8mm restructuring charge

Business Integration Strategies Manufacturing Footprint

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Digital Innovation

Investing to improve the customer

experience

Expanding our digital reach

Developing digital tools

Transforming go-to-market strategies

Digital team in new office with open floor

plan and a focus on collaboration

Digital Innovation Center in Ybor City, Tampa, FLNew Digital Innovation Center

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Adj. EBITDA & Margin Trend

$1,964.9#

Adj. EBITDA Adj. EBITDA Margin

TTM Adj. EBITDA* of $249M; Adj. EBITDA Margin* up 730 bps since 2010

208%

2010 – 3Q16

Growth

$80.7 $82.0

$97.3$105.9

$137.1

$204.2

$248.7

5.3%5.5%

5.8%6.1%

7.5%

10.9%

12.6%

2010 2011 2012 2013 2014 2015 3Q16 (TTM)

(*) – See appendix for non-GAAP reconciliations

+730bps

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the beautifuldoor

Financial Review

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Strong growth in both retail and

wholesale channels

Incremental Lowe’s business

performing ahead of expectations

Stronger relative growth continues in

interior category vs. entry category

New products supporting revenue

growth, particularly for interior doors

New Heritage series designs

exceeding expectations

3Q 2016 Highlights

Segment Overview – North American Residential

($ in millions) 3Q16 3Q15 Diff

Net Sales $337.7 $304.2 +11%

Adj. EBITDA $55.6 $43.9 +27%

Margin 16.5% 14.4% +210bps

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Segment Overview – Europe

Net sales increased 2%, excluding Fx

Adj. EBITDA* +34% driven by 2015

portfolio optimization and higher AUP

Double digit growth at DSI

Brexit-related uncertainty driving

some slowdown in new residential

construction activity in 3Q

UK government initiatives targeted to

help housing market

3Q 2016 Highlights

(*) – See appendix for non-GAAP reconciliations

($ in millions) 3Q16 3Q15 Diff

Net Sales $70.0 $78.4 -11%

Adj. EBITDA $7.9 $5.9 +34%

Margin 11.3% 7.6% +370bps

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Segment Overview – Architectural

Double digit Adj. EBITDA* growth and

110 bps margin expansion

1H16 price increase beginning to

positively impact AUP

2Q ERP implementation / operational

inefficiencies contributed to soft volume

- - back on track by end of Q3

3Q 2016 Highlights

(*) – See appendix for non-GAAP reconciliations

($ in millions) 3Q16 3Q15 Diff

Net Sales $76.6 $74.1 +3%

Adj. EBITDA $7.2 $6.1 +18%

Margin 9.4% 8.3% +110bps

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3Q16 Consolidated P&L Metrics

Net Sales

Gross Profit

Gross Profit %

SG&A

SG&A %

Adj. EBITDA*

Adj. EBITDA %*

Adj. EPS*

3Q16

$489.6

$103.8

21.2%

$63.0

12.9%

$65.1

13.3%

$0.89

3Q15

$475.7

$87.5

18.4%

$59.6

12.5%

$50.5

10.6%

$0.62

B/(W)

+2.9%

+18.6%

+280 bps

(5.7%)

(40 bps)

+28.9%

+270 bps

+$0.27

($ in millions)

(*) – See appendix for non-GAAP reconciliations

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Liquidity, Credit and Debt Profile

Credit & Debt (millions of USD)

TTM Adj. EBITDA $248.7 $185.1

TTM Interest Expense $28.3 $36.2

Total Debt $470.7 $472.6

Net Debt* $422.3 $403.6

3Q16 3Q15

9 months ended

10/2/2016

9 months ended

9/27/2015

Unrestricted cash $48.4 $69.0

Total available liquidity $212.9 $206.1

Cash flow from operations $91.9 $93.4

Capital expenditures $57.9 $31.1

Share repurchases $90.2 NA

Liquidity & Cash Flow (millions of USD)

(*) – Net debt equals total debt less unrestricted cash

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2016 Viewpoints

Continued U.S. housing market growth

Expect mid to high-single digit growth in

U.S. housing completions

Expect mid-single digit growth in the

U.S. RRR market

New products driving higher AUP

Favorable commodities market

Tightening labor market in U.S.

Increased hiring costs

Lower productivity from recent

employee hires

“Brexit” causing uncertainty in UK

housing market

Weak currencies including GBP and

MXP negatively impacting input costs

Tailwinds Headwinds

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10.9%

0%

5%

10%

15%

20%

25%

2015 2018

$1.9

$0.0

$0.5

$1.0

$1.5

$2.0

$2.5

$3.0

2015 2018

Long Term Growth Framework

Net Sales

($ in billions)

Adjusted EBITDA* Margin

7% - 10%

CAGR

14% - 15%

Note: Company long term growth framework is a forward-looking statement and subject to risks and uncertainties. See "Safe Harbor/Forward Looking Statement”

(*) – See definition of Adjusted EBITDA on page 2. We are not providing a quantitative reconciliation of our Adjusted EBITDA outlook to the corresponding GAAP information because the GAAP measures that we

exclude from our Adjusted EBITDA outlook are difficult to predict and are primarily dependent on future uncertainties.

YTD +8% YTD 12.9%

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Summary / Q&A

the beautifuldoor

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Masonite’s Profitable Growth Agenda

Market Recovery

Optimized Portfolio

Leveraging Improved Cost

Structure & Capabilities

Unparalleled Customer Experience

New product innovation

Digital innovation in routes to

market

MVantage Lean Enterprise

Automation, Efficiency, Speed,

Simplicity

Structural Tailwinds

Strategic Focus

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Summary

Net sales +3% (+5% ex. Fx)

Gross margin expanded 280 bps

Adj. EBITDA* +29% to $65.1 million

Adj. EBITDA margin* +270 bps to 13.3%

Solid U.S. macro environment

Continued uncertainty in UK post-Brexit

Focus on operational efficiencies to help

mitigate tightening NA labor market

Benefit from new product launches

3Q 2016 Highlights FY 2016 Drivers

(*) – See appendix for non-GAAP reconciliations

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Appendix

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Appendix

Segment Sales Walk

3Q15 Net Sales

Forex

Volume*

AUP

Other

3Q16 Net Sales

NA Residential

$304.2

($1.5)

$40.2

($5.2)

--

$337.7

Europe

$78.4

($9.6)

($4.9)

$8.5

($2.4)

$70.0

Architectural

$74.1

--

($2.2)

$3.8

$0.9

$76.6

C&O

$19.0

--

($13.3)

--

($0.4)

$5.3

($ in millions)

+12% ex Fx +2% ex Fx +3% ex Fx

(*) – Includes the incremental impact of recent acquisitions and dispositions

Reflects sale of S.

Africa

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AppendixReconciliation of Adj. EBITDA to Net Income (loss) Attributable to Masonite

(In thousands)

North

American

Residential Europe Architectural

Corporate &

Other Total

Adjusted EBITDA 55,648$ 7,933$ 7,229$ (5,703)$ 65,107$

Less (plus):

Depreciation 7,666 1,952 2,242 2,135 13,995

Amortization 1,130 2,283 2,015 789 6,217

Share based compensation expense - - - 3,412 3,412

Loss (gain) on disposal of property, plant and equipment 552 142 4 - 698

Restructuring costs - - - 215 215

Loss(gain) on disposal of subsidiaries - - - (5,144) (5,144)

Interest expense (income), net - - - 6,985 6,985

Other expense (income), net - 53 - (1,252) (1,199)

Income tax expense (benefit) - - - 6,526 6,526

Loss (income) from discontinued operations, net of tax - - - 236 236

Net income (loss) attributable to non-controlling interest 926 - - 231 1,157

Net income (loss) attributable to Masonite 45,374$ 3,503$ 2,968$ (19,836)$ 32,009$

Net Sales to external customers $337,713 $70,040 $76,578 $5,316 $489,647

Adjusted EBITDA margin 16.5% 11.3% 9.4% nm 13.3%

(In thousands)

North

American

Residential Europe Architectural

Corporate &

Other Total

Adjusted EBITDA 43,885$ 5,941$ 6,141$ (5,455)$ 50,512$

Less (plus):

Depreciation 7,683 2,107 2,081 2,683 14,554

Amortization 1,261 2,208 2,015 774 6,258

Share based compensation expense - - - 1,490 1,490

Loss (gain) on disposal of property, plant and equipment 213 14 59 5 291

Restructuring costs 2 219 - 918 1,139

Asset impairment - 9,439 - - 9,439

Loss(gain) on disposal of subsidiaries - 29,721 - - 29,721

Interest expense (income), net - - - 7,179 7,179

Other expense (income), net - 77 - (1,797) (1,720)

Income tax expense (benefit) - - - (2,510) (2,510)

Loss (income) from discontinued operations, net of tax - - - 192 192

Net income (loss) attributable to non-controlling interest 696 - - 66 762

Net income (loss) attributable to Masonite 34,030$ (37,844)$ 1,986$ (14,455)$ (16,283)$

Net Sales to external customers $304,158 $78,403 $74,114 $18,975 $475,650

Adjusted EBITDA margin 14.4% 7.6% 8.3% nm 10.6%

Three Months Ended October 2, 2016

Three Months Ended September 27, 2015

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AppendixReconciliation of Adj. EBITDA to Net Income (loss) Attributable to Masonite

(In thousands)

October 2,

2016

July 3,

2016

April 3,

2016

January 3,

2016

September 27,

2015

June 28,

2015

March 29,

2015

December 28,

2014

Adjusted EBITDA 65,107$ 68,516$ 58,241$ 56,840$ 50,512$ 59,057$ 37,788$ 37,722$

Less (plus):

Depreciation 13,995 14,813 14,570 14,890 14,554 14,410 15,306 14,798

Amortization 6,217 6,518 6,464 7,481 6,258 4,975 5,011 5,549

Share based compensation expense 3,412 4,782 3,728 6,261 1,490 3,106 2,379 2,270

Loss (gain) on disposal of property, plant

and equipment 698 260 132 786 291 350 (56) 1,457

Restructuring costs 215 (103) 19 1,195 1,139 988 2,356 (57)

Asset impairment — — — — 9,439 — — 18,202

Loss (gain) on disposal of subsidiaries (5,144) (1,431) — 30,263 29,721 — — —

Interest expense (income), net 6,985 6,933 7,232 7,165 7,179 6,787 11,753 10,491

Loss on extinguishment of debt — — — — — — 28,046 —

Other expense (income), net (1,199) (801) 786 1,782 (1,720) (635) (1,184) (1,670)

Income tax expense (benefit) 6,526 2,855 6,210 (599) (2,510) 15,013 3,264 1,131

Loss (income) from discontinued

operations, net of tax 236 184 188 247 192 240 229 194

Net income (loss) attributable to non-

controlling interest 1,157 1,151 1,084 1,583 762 381 1,736 1,724

Net income (loss) attributable to Masonite 32,009$ 33,355$ 17,828$ (14,214)$ (16,283)$ 13,442$ (31,052)$ (16,367)$

Three Months Ended

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AppendixReconciliation of Adj. Net Income (loss) Attributable to Masonite to Net

Income (loss) Attributable to Masonite

(In thousands) October 2, 2016 September 27, 2015 October 2, 2016 September 27, 2015

Net income (loss) attributable to Masonite 32,009$ (16,283)$ 83,192$ (33,893)$

Add: Asset impairment - 9,439 - 9,439

Add: Loss (gain) on dispoal of subsidiaries (5,144) 29,721 (6,575) 29,721

Add: Loss on extinguishment of debt - - - 28,046

Tax impact of adjustments 737 (3,248) 737 (3,248)

Adjusted net income (loss) attributable to Masonite 27,602$ 19,629$ 77,354$ 30,065$

Diluted earnings (loss) per common share attributable to Masonite ("EPS") 1.03$ (0.54)$ 2.66$ (1.12)$

Diluted adjusted earnings (loss) per common share attributable to Masonite

("Adjusted EPS") 0.89$ 0.62$ 2.47$ 0.95$

Shares used in computing diluted EPS 31,173,776 30,351,707 31,257,009 30,218,023

Incremental shares issuable under share compensation plans and warrants - 1,381,610 - 1,405,923

Shares used in computing diluted Adjusted EPS 31,173,776 31,733,317 31,257,009 31,623,946

Three Months Ended Nine Months Ended

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