1Q17 EARNINGS PRESENTATION

NYSE: DOOR

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Safe Harbor / Non-GAAP Financial Measures

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 2017 outlook or 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 passage of legislation authorizing its exit from 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, to meet our pension obligations, and to meet our

debt service obligations, including our obligations under our senior notes and our ABL 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 taken by, and the continued success of, certain key customers; our ability

to maintain relationships with certain customers; the ability to generate the benefits of our restructuring activities; retention of key management personnel; environmental and other government

regulations; and limitations on operating our business as a result of covenant restrictions under our existing and future indebtedness, including our senior notes and our ABL Facility.

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 April 2, 2017 and April 3, 2016 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.

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Agenda

• First Quarter Highlights

• Financial Review

• Summary / Q&A

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COMPANY OVERVIEW

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1Q17 Highlights

Sales volume down on very strong

comps across business in Q1 2016

Average Unit Price (AUP) increase

in all three reportable segments

Europe business impacted by Fx

Price increases implemented

Continued progress in Architectural

integration and financial results

Plant rationalization

Pricing traction via 2016 increases

Challenging quarter in NA

Residential due largely to

operational inefficiencies

New Masonite Brand Introduction

New logo, brand statement and

marketing campaign

Website re-design

Home Depot Florida rollout began

near end of quarter

New digital initiatives to improve

the customer experience and test

new routes to market

Repurchased 144k shares for

approximately $11 million

Key Initiatives Business Performance

6 6

Business Trends

Home Depot Florida

store roll out began

in March 2017

New branding

New kiosks

New packaging

Home Depot (FL) Ramp New Products

Heritage Series Exterior Doors

Style matches our successful

Craftsmen-style interior doors

Relevant industry trend

Introduced new fir-grain texture

7 7

Branding / Marketing

13.1 million media impressions

Paid media drove 28,000 website

page views

>50% of website visitors identifying

as “Professionals”

8 8

Growing the Business

Location: Central Florida

Timing: Anticipated Q2 2017

Online direct order platform for select

offering of premium door systems,

delivered right to jobsite within 5 days

Test program in Florida market

Delivering an Extraordinary Customer Experience

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FINANCIAL REVIEW

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1Q17 Consolidated P&L Metrics

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

(^) – Diluted EPS and diluted Adj. EPS were the same in the first quarter of 2016 and 2017

+1% ex-Fx

Brand launch costs

offset by other

SG&A reductions

($ in millions) 1Q17 1Q16 +/-

Net Sales $487.2 $489.3 -0.4%

Gross Profit $95.6 $98.2 -2.6%

Gross Profit % 19.6% 20.1% -50 bps

SG&A $64.8 $64.9 0.2%

SG&A % 13.3% 13.3% -

Adj. EBITDA* $52.9 $58.2 -9.1%

Adj. EBITDA %* 10.9% 11.9% -100 bps

Adj. EPS^ $0.77 $0.57 35.1%

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North American Residential

Volume down from very strong prior year quarter

Strong AUP trends in wholesale and retail from

combination of price and mix improvements

Adjusted EBITDA decline driven by volume

decline, brand launch costs and inflationary

pressures

AUP improvement offset by operational

inefficiencies

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

($ in millions) 2017 2016 Diff

Net Sales $338.0 $328.7 +3%

Adj. EBITDA* $44.9 $51.4 -13%

Adj. EBITDA Margin* 13.3% 15.6% -230bps

First Quarter

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Europe

Weakness in GBP negatively impacted Net Sales

and Adj. EBITDA* by approximately $10 million

and $2 million, respectively

Mid single digit AUP increase in UK

UK sales volume flat as continued strong demand

at DSI offset modest weakness in builder business

Viewpoint unchanged on growth potential of UK

housing market

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

($ in millions) 2017 2016 Diff

Net Sales $70.0 $80.6 -13%

Net sales ex-Fx -1%

Adj. EBITDA* $7.7 $10.1 -24%

Adj. EBITDA Margin* 11.0% 12.6% -160bps

First Quarter

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Architectural

Strong 1Q16 led to lower 1Q17 volume

comparison

Pricing and mix driving strong AUP growth

2016 price increase benefitting 2017 sales

Continued strong demand in higher end products

Execution of Architectural transformation

projects remains on track

Algoma plant closure

Product optimization / simplification

Brand integration

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

($ in millions) 2017 2016 Diff

Net Sales $71.8 $73.5 -2%

Adj. EBITDA* $5.2 $4.4 +18%

Adj. EBITDA Margin* 7.3% 6.0% +130bps

First Quarter

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Liquidity, Credit & Debt Profile

Credit & Debt (millions of USD)

TTM Adj. EBITDA* $247.1 $224.7

TTM Interest Expense $28.0 $28.4

Total Debt $471.2 $469.0

Net Debt^ $436.7 $419.0

1Q17 1Q16

3 months ended

4/2/2017

3 months ended

4/3/2016

Unrestricted cash $34.5 $50.0

Total available liquidity $187.5 $206.6

Cash flow from operations ($2.5) $3.2

Capital expenditures $14.7 $23.8

Share repurchases $11.3 $16.0

Liquidity & Cash Flow (millions of USD)

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

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

15 15

12.8%

2016 2019

$2.0

2016 2019

Long-Term Growth Framework

7% - 9%

CAGR

16% - 17%

Adjusted EBITDA* Margin

Net Sales

( )̂ - 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 or Adjusted EPS outlook to the corresponding GAAP information because the GAAP

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

Cash Flow Deployment

CapEx to Support Growth

Opportunistic Share

Repurchase

Strategic Acquisitions

Fund Working Capital

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SUMMARY

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SUMMARY

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations

Architectural Business continues to improve

European business impacted by Fx

NA Residential faced challenges in 1Q17

Actions being taken to address manufacturing and

distribution inefficiencies

Average Unit Price (AUP) increased in all three

reportable segments

Sequential sales and operating improvement from

January through March

Continued progress on key strategic initiatives

Brand launch

Advisar test program

Making doors more relevant

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APPENDIX

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Segment Sales Walks

($ in millions) NA Residential Europe Architectural C&O

1Q16 Net Sales $328.7 $80.6 $73.5 $6.5

Foreign Exchange $0.9 ($9.8) $0.2 $0.0

Volume ($3.5) ($2.4) ($7.8) $0.3

AUP $12.2 $2.9 $5.6 $0.0

Other ($0.3) ($1.3) $0.3 $0.5

1Q17 Net Sales $338.0 $70.0 $71.8 $7.3

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Reconciliation of Adj. EBITDA to net income

(loss) attributable to Masonite Three Months Ended April 2, 2017

(In thousands)

North American

Residential Europe Architectural Corporate &

Other Total

Adjusted EBITDA $ 44,937 $ 7,674 $ 5,214 $ (4,966 ) $ 52,859

Less (plus):

Depreciation 7,484 1,810 2,370 2,360 14,024

Amortization 993 1,667 2,161 1,149 5,970

Share based compensation expense — — — 2,427 2,427

Loss (gain) on disposal of property, plant and equipment (399 ) 140

(27 ) 12

(274 )

Restructuring costs — — 271 22 293

Interest expense (income), net — — — 7,024 7,024

Other expense (income), net — 93 — (342 ) (249 )

Income tax expense (benefit) — — — (1,679 ) (1,679 )

Loss (income) from discontinued operations, net of tax —

—

—

245

245

Net income (loss) attributable to non-controlling interest 917

—

—

596

1,513

Net income (loss) attributable to Masonite $ 35,942 $ 3,964 $ 439 $ (16,780 ) $ 23,565

Three Months Ended April 3, 2016

(In thousands)

North American

Residential Europe Architectural Corporate &

Other Total

Adjusted EBITDA $ 51,375 $ 10,118 $ 4,431 $ (7,683 ) $ 58,241

Less (plus):

Depreciation 7,920 2,076 2,507 2,067 14,570

Amortization 1,158 2,396 2,147 763 6,464

Share based compensation expense — — — 3,728 3,728

Loss (gain) on disposal of property, plant and equipment 91

31

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(31 ) 132

Restructuring costs — 21 — (2 ) 19

Interest expense (income), net — — — 7,232 7,232

Other expense (income), net — 71 — 715 786

Income tax expense (benefit) — — — 6,210 6,210

Loss (income) from discontinued operations, net of tax —

—

—

188

188

Net income (loss) attributable to non-controlling interest 838

—

—

246

1,084

Net income (loss) attributable to Masonite $ 41,368 $ 5,523 $ (264 ) $ (28,799 ) $ 17,828