2018 4Q AND FULL YEAR EARNINGS

NYSE: DOOR

22

Safe Harbor / Non-GAAP Financial MeasuresSAFE HARBOR / FORWARD LOOKING STATEMENTThis 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 2019 outlook and long term growth framework, housing andother markets, and the effects of our restructuring and strategic initiatives. When used in this 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,” “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 unknownrisks, 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 achievementsexpressed 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 ofwhether 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, downward trends in our end markets and in economicconditions; reduced levels of residential new construction; residential repair, renovation and remodeling; and non-residential building construction activity due to increases in mortgage rates, changes in mortgage interest deductions and related tax changesand reduced availability of financing; competition; the continued success of, and our ability to maintain relationships with, certain key customers in light of customer concentration and consolidation; new tariffs and evolving trade policy between the UnitedStates and other countries, including China; increases in prices of raw materials and fuel; increases in labor costs, the availability of labor, or labor relations (i.e., disruptions, strikes or work stoppages); our ability to manage our operations includinganticipating demand for our products, managing disruptions in our operations, managing manufacturing realignments (including related restructuring charges), managing customer credit risk and successful integration of acquisitions; the continuousoperation of our information technology and enterprise resource planning systems and management of potential cyber security threats and attacks; our ability to generate sufficient cash flows to fund our capital expenditure requirements, to meet ourpension obligations, and to meet our debt service obligations, including our obligations under our senior notes and our ABL Facility; political, economic and other risks that arise from operating a multinational business; uncertainty relating to the UnitedKingdom's anticipated exit from the European Union; fluctuating exchange and interest rates; our ability to innovate and keep pace with technological developments; product liability claims and product recalls; retention of key management personnel;environmental and other government regulations, including the FCPA, and any changes in such regulations; and limitations on operating our business as a result of covenant restrictions under our existing and future indebtedness, including our senior notesand our ABL Facility.

NON-GAAP FINANCIAL MEASURESOur 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 whichdoes 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 inaccordance 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 servicerequirements. Adjusted EBITDA is defined as net income attributable to Masonite adjusted to exclude the following items: depreciation; amortization; share based compensation expense; loss (gain) on disposal of property, plant and equipment; registrationand listing fees; restructuring costs; asset impairment; loss (gain) on disposal of subsidiaries; interest expense (income), net; loss on extinguishment of debt; other expense (income), net; income tax expense (benefit); loss (income) from discontinuedoperations, net of tax; and net income (loss) attributable to non-controlling interest. This definition of Adjusted EBITDA differs from the definitions of EBITDA contained in the indentures governing the 2026 Notes and 2023 Notes and the credit agreementgoverning 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 ofactions 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 orreserve deducted in the relevant period in computing consolidated net income, including any one-time costs incurred in connection with acquisitions. Adjusted EBITDA is used to evaluate and compare the performance of the segments and it is one of theprimary measures used to determine employee incentive compensation. Intersegment transfers are negotiated on an arm's length basis, using market prices. We believe that Adjusted EBITDA, from an operations standpoint, provides an appropriate way tomeasure and assess segment performance. Our management team has established the practice of reviewing the performance of each segment based on the measures of net sales and Adjusted EBITDA. We believe that Adjusted EBITDA is useful tousers of the consolidated financial statements because it provides the same information that we use internally to evaluate and compare the performance of the segments and it is one of the primary measures used to determine employee incentivecompensation.

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 net income (loss) attributable to Masonite is Net income attributable to Masonite less restructuring costs, asset impairment charges, loss (gain) on disposal of subsidiaries, and other items, if any, that do not relate to Masonite’s underlyingbusiness performance (each net of related tax expense (benefit)). In the fourth quarter of 2018, we changed the definition of Adjusted net income (loss) attributable to Masonite to exclude restructuring charges and related tax impacts. As a result, we haverecast the previously-presented Adjusted net income attributable to Masonite reconciliations for the three months and year ended December 31, 2017, to also exclude these amounts. Additionally, amounts shown for the three months and year endedDecember 31, 2017, exclude the beneficial impact of the deferred tax revaluation recognized as a result of The Tax Cuts and Jobs Act of 2017 and the release of a valuation allowance in Canada as such tax assets are likely to be realized in future periods.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. Thismeasure may be inconsistent with similar measures presented by other companies. Adjusted EPS is Adjusted net income attributable to Masonite divided by Shares used in computing diluted Adjusted EPS.

Free cash flow is a non-GAAP liquidity measure used by investors, financial analysts and management to help evaluate the Company's ability to generate cash to pursue opportunities that enhance shareholder value. Free cash flow is not a measure ofresidual cash flow available for discretionary expenditures due to our mandatory debt service requirements. As a conversion ratio, free cash flow is compared to adjusted net income (loss) attributable to Masonite. Free cash flow and free cash flowconversion are used internally by the Company for various purposes, including reporting results of operations to the Board of Directors of the Company and analysis of performance. Management believes that these measures provide a usefulrepresentation of our operational performance and liquidity; however, the measures should not be considered in isolation or as a substitute for net cash flow provided by operating activities or net income attributable to Masonite as prepared in accordancewith GAAP.

3

Agenda

• Fourth Quarter Overview

• Financial Review

• Financial Outlook

• Summary / Q&A

4

FOURTH QUARTER OVERVIEW

55

4% Net Sales growth Acquisition growth largely offset by soft end

markets, particularly in December

3% Average Unit Price (AUP) growth

Previously announced price increases implemented in late December, but minimal 4Q impact

Adj. EBITDA* declined 10% YoY primarily due to lower volume and higher material inflation

Amended and extended asset based credit facility subsequent to quarter end, with upsize to $250M

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

Operational AspectsFinancial Performance

Continued to leverage MVantage to drive productivity Reduced overtime and shifts throughout 4Q

Decreased headcount by 3% from 3Q-end to YE; continued reductions in January 2019

Higher commodity inflation continued Mid-single digit inflation, inclusive of tariff impact

Previously communicated UK restructuring is progressing as planned

4Q18 Highlights

66

7.1%6.0%

8.6%

3.2%

-8.1%

-12.6%

7.2% 6.8%

10.8%

7.2%

3.2%

6.3%8.3%

4.4%

-5.5%

4Q17 1Q18 2Q18 3Q18 4Q18*

SF MF Equivalent

U.S. Housing Starts

U.S. Housing Completions

Macroeconomic indicators^

U.S. housing weakened further in 4Q18* Single family housing starts turned negative and

completions were flat for the quarter

Canadian starts remained negative; down 7% year-on-year Second quarter in a row that multi-family and

single-family starts were both negative YoY

U.K. new housing continued to recover Starts up 15% versus weak comp

Housing completions were also up 5% YoY

Source: U.S. Census Bureau

Source: U.S. Census Bureau

(*) – Due to U.S. Government shutdown, U.S. Census Bureau data for December has not been released yet.4Q18 represents only October and November year-on-year performance.(^) – Sources: U.S. data per U.S. Census Bureau, Canada data per Canadian Mortgage and HousingCorporation (CMHC) and UK data per National House Building Council (NHBC)

5.3%

9.6%6.3%

9.6%

0.6%2.2%

6.6%5.8%

-2.9%

-19.5%

4.7%

9.0%

6.2% 7.4%

-3.3%

4Q17 1Q18 2Q18 3Q18 4Q18*

SF MF Equivalent

2018 Housing Markets

7

New automated cutstockcomponents plant on track to start up 2Q19

Capacity investments at low cost sites to cost effectively supply North America

Leveraging global supplier footprint to achieve lowest landed cost

Ongoing consolidation of certain manufacturing sites

Completed sale of non-core floor joist product line in UK in January

Two additional non-core businesses to be exited in 2019

Rationalizing SKUs to increase efficiency and reduce complexity for customers

Continued product investments to drive higher AUP

2019 introductions of new Livingston interior and AquaSealTM entry door offerings

Plant transformation projects completed at 7 sites in 2018

86% YoY increase in Kaizen events

2018 had highest annual CI belt certifications since 2013

Continued capital investments to support efficiency improvements

$30M of capital deployed for strategic investments in 2H 2018

Footprint Optimization Portfolio OptimizationMVantage Utilization

Portfolio of initiatives intended to drive margin expansion regardless of volume growth

Margin Improvement Initiatives

8

Total restructuring actions estimated to generate future savings in excess of $20M annually; Q4 charge of $2M for previously announced actions; anticipate 2019 charges of $10-15M for additional actions

Consolidation of UK Interior door manufacturing and distribution operations, resulting in consolidation of 5 facilities

Transition UK to Global Business Services model, with customer service and accounting operations centralized

Relocating and automating cutstock components plant

Monterrey, MX capacity expansion and other efficiency initiatives allow for consolidation of one of seven U.S. Residential Interior door plants

Consolidating an Architectural Stile & Rail door plant into a recently acquired facility

Reduce North America headcount in SG&A and Overhead by ~5%

Initiated 4Q 2018, expect to complete 1Q 2019

Initiated 4Q 2018, expect to complete 1H 2019

Expect to complete 2H 2019

Pre

vio

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A

nno

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ddi

tiona

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ions

N

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y

Initiated 1Q 2019, expect to complete by 3Q 2019

Expect to complete 2H 2019

Restructuring Actions

Initiated 3Q 2018, expect to complete 2Q 2019

9

FINANCIAL REVIEW

1010

($ in millions) 4Q18 4Q17 B/(W)

Net Sales $528.4 $508.5 3.9%

Gross Profit $95.4 $100.1 (4.7%)

Gross Profit % 18.0% 19.7% (170 bps)

SG&A $61.6 $59.9 (2.8%)

SG&A % 11.7% 11.8% 10 bps

Adj. EBITDA* $57.5 $64.2 (10.4%)

Adj. EBITDA %* 10.9% 12.6% (170 bps)

Diluted EPS $0.46 $2.48 (81.5%)

Adj. EPS* $0.68 $0.70 (2.9%)

4Q18 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

$5

Flat

Flat

($7)

($10)

($2)

$7

Acquisitions

SG&A

Distribution

Factory

Materials

Fx

Volume/Mix/Price

Adjusted EBITDA* Bridge

11

Higher YoY AUP offset by lower sales volumes in Wholesale, particularly in month of December

Retail decline in line with our expectations as result of previously announced line review loss

Additional price increases successfully implemented in late December, providing minimal benefit in quarter

Timing of headcount flex resulted in negative volume leverage and additional pressure on Adj. EBITDA Margin*

BWI acquisition integration underway

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

North American Residential

($ in millions) 2018 B/(W) 2018 B/(W)

Net Sales $349.0 (2.7%) $1,454.8 1.8%

Net sales ex-Fx & Acq (4.0%) 1.3%

Adj. EBITDA* $39.7 (21.4%) $202.5 1.1%

Adj. EBITDA Margin* 11.4% (270bps) 13.9% (10bps)

Full YearFourth Quarter

12

Base sales volumes relatively flat despite Brexit uncertainty

Net sales decline attributable entirely to non-core product lines and components sales

DW3 acquisition continues to deliver strong sales growth and Adj. EBITDA Margin*

Restructuring underway in the UK to improve operational efficiencies and cost structure

Cost inefficiencies following consolidation of distribution and warehousing operations

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

Europe

($ in millions) 2018 B/(W) 2018 B/(W)

Net Sales $89.9 22.6% $369.0 26.4%

Net sales ex-Fx & Acq (2.5%) (1.1%)

Adj. EBITDA* $10.7 21.6% $45.0 33.1%

Adj. EBITDA Margin* 11.9% (10bps) 12.2% 60bps

Full YearFourth Quarter

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

Net sales growth driven by Graham & Maiman acquisition and continued strong AUP improvement

Base volumes impacted by ERP implementation, but YoY declines moderated versus previous three quarters

Adj. EBITDA* declines due largely to post-ERP implementation issues

Higher backlog created during conversion

Incurred plant inefficiencies and higher distribution costs in an effort to maintain service levels

Order intake levels increased YoY in the fourth quarter

Architectural

($ in millions) 2018 B/(W) 2018 B/(W)

Net Sales $83.0 19.3% $323.5 12.1%

Net sales ex-Fx & Acq 2.7% (2.7%)

Adj. EBITDA* $6.9 (19.8%) $37.7 25.2%

Adj. EBITDA Margin* 8.3% (410bps) 11.7% 130bps

Full YearFourth Quarter

1414

($ in millions) 2018 2017 B/(W)

Net Sales $2,170.1 $2,032.9 6.7%

Gross Profit $435.3 $407.0 7.0%

Gross Profit % 20.1% 20.0% 10 bps

SG&A $266.2 $247.9 (7.4%)

SG&A % 12.3% 12.2% (10 bps)

Adj. EBITDA* $267.9 $254.5 5.3%

Adj. EBITDA %* 12.3% 12.5% (20 bps)

Diluted EPS $3.33 $5.09 (34.6%)

Adj. EPS* $3.68 $3.34 10.2%

$19

($8)

($2)

($15)

($29)

Flat

$48

Acquisitions

SG&A

Distribution

Factory

Materials

Fx

Volume/Mix/Price

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

Adjusted EBITDA* Bridge

2018 Consolidated P&L Metrics

1515

(*) – 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

Strong Free Cash Flow* conversion of 118% in 2018

Liquidity, Credit & Debt Profile

Credit & Debt (millions of USD)

TTM Adj. EBITDA* $268 $255

TTM Interest Expense $39 $30

Total Debt $796 $626

Net Debt^ $680 $449

4Q18 4Q17

12 months ended 12/30/2018

12 months ended 12/31/2017

Unrestricted cash $116 $177

Total available liquidity $265 $339

Cash flow from operations $203 $173

Capital expenditures $82 $74

Share repurchases $167 $120

Liquidity & Cash Flow (millions of USD)

1616

2019 Backdrop*

Entering the year with improved price-cost relationship

December price increases in North America expected to offset material inflation

MVantage initiatives driving ongoing operational improvements to help mitigate labor inflation

Restructuring actions designed to optimize footprint and rationalize portfolio

Corporate cost savings expect to benefit results beginning 2H 2019; factory cost savings largely expected to begin in 2020

General uncertainty in housing market in both North America and the UK

Planning for nominal growth in both new construction and RRR

Tight US labor market

Increased wages, hiring costs and competition for talent

Macroeconomic and political uncertainty

Trade policy

Brexit impact on UK economy

Commodity inflation moderating but expected to continue; additional impacts from tariff

Mitigating ActionsHeadwinds

(*) – These factors represent forward-looking statements and are subject to risks and uncertainties. See "Safe Harbor/Forward Looking Statement”

1717

2019 Outlook*

2019 P&L Metrics

Net Sales Growth

Adjusted EPS^

+ 3% - 5% (+ 4% - 6% ex. FX)

$3.60 - $4.40

Adjusted EBITDA^ $275 - $305M

Capital Expenditures

Cash Taxes

Cash Flow Drivers

(*) –Our 2019 outlook is a forward-looking statement and subject to risks and uncertainties. See "Safe Harbor/Forward Looking Statement” (^) – See definition of non-GAAP financial measures 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.

Free Cash Flow^ Conversion

$75 - $80M

$12 - $16M

> 100%

1818

2021EArchitecturalEuropeNA Residential2018

2018 Volume Leverage AUP/Mix Net Productivity 2021E

Adj. EBITDA Margin* Trajectory

Long Term Growth Framework^

14% -15%

Minimal

+150-200 bps+50-100 bps

Net Sales Trajectory

~15%

12.3%

Prior LTGF (Mar ‘18) 16-17%

Volume ~ (100) bps Previously expected leverage unlikely due to lower demand

Price-Cost In-line Higher material inflation offset by stronger price/AUP contribution

Productivity ~ (25) bps Higher labor/freight inflation; footprint actions launched to recover productivity

Current LTGF (Feb ‘19) ~15%

Prior LTGF (Mar ‘18) 5-7% CAGR

End Markets ~ (2) pts Now planning for low single digit market growth across business

AUP / Mix In-line Continued investment in higher value products across all businesses

Acquired/Divested N/A No subsequent acquisitions considered; minimal impact from 2018/19 transactions

Current LTGF (Feb ‘19) ~4% CAGR

~15%

$2.17B

+ Mid Single Digits

~$2.4B+ Low Single Digits

+ Mid Single Digits

(^) – 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 Margin on page 2. We are not providing a quantitative reconciliation of our Long Term Growth Framework Adjusted EBITDA Margin to the corresponding GAAP information because the GAAP measures that we exclude from our Long Term Growth Framework Adjusted EBITDA Margin are difficult to predict and are primarily dependent on future uncertainties.

Framework revised to reflect impact of inflation and our current expectations for lower market growth

19

Anticipate sales and Adj. EBITDA* growth for FY2018 despite increasing market uncertainty and challenging inflationary environment

Continue to operate in an uncertain housing market

Expect to resume Adj. EBITDA Margin* expansion in 2019 through:

Previously announced pricing in North America, implemented in late December

Continued focus on the MVantage operating system

Previously announced restructuring actions, together with additional planned restructuring actions

Majority of restructuring actions to be completed in 1H 2019; benefits largely not realized until post-2019

Long Term Growth Framework reflects moderating demand outlook and higher inflationary environment

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

Summary

APPENDIX

2121

Segment Net Sales Walks – Q4

($ in millions) NA Residential Europe Architectural C&O Consolidated6

4Q17 Net Sales $358.8 $73.3 $69.6 $6.8 $508.5

Acquisitions $7.7 $20.5 $11.8 $0.0 $40.0

Base Volume ($27.6) ($0.1) ($2.2) ($0.5) ($30.4)

AUP $12.6 $0.6 $2.5 $0.0 $15.7

Other $0.5 ($2.3) $1.6 $0.2 $0.0

Foreign Exchange ($3.0) ($2.1) ($0.3) $0.0 ($5.4)

4Q18 Net Sales $349.0 $89.9 $83.0 $6.5 $528.4

2222

Segment Net Sales Walks – Full Year

($ in millions) NA Residential Europe Architectural C&O Consolidated6

2017 Net Sales $1,428.9 $291.9 $288.5 $23.6 $2,032.9

Acquisitions $7.7 $68.5 $42.8 $0.0 $119.0

Base Volume ($24.2) ($15.0) ($26.2) ($1.1) ($66.5)

AUP $38.9 $14.0 $15.3 $0.0 $68.2

Other $3.8 ($2.2) $3.0 $0.1 $4.6

Foreign Exchange ($0.3) $11.8 $0.1 $0.3 $11.9

2018 Net Sales $1,454.8 $369.0 $323.5 $22.9 $2,170.1

2323

Reconciliation of net income (loss) attributable to Masonite to Adjusted net income (loss) attributable to Masonite

Net income (loss) attributable to Masonite $ 12,347 $ 71,812 $ 92,710 $ 151,739

Add: Restructuring costs (136)

Add: Asset Impairment

Add: Loss (gain) on disposal of subsidiaries

Add: Loss on extinguishment of debt

Add: Income tax benefit as a result of U.S. Tax ReformAdd: Income tax benefit as a result of the release of valuation allowances

Income tax impact of adjustments

Adjusted net income (loss) attributable to Masonite

$ 18,143 $ 20,406 $ 102,485 $ 99,648

Diluted earnings (loss) per common share attributable to Masonite ("EPS")

$ 0.46 $ 2.48 $ 3.33 $ 5.09

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

$ 0.68 $ 0.70 $ 3.68 $ 3.34

Shares used in computing diluted EPS

1,624 1,624 850

—

— —

—

5,243 — 5,243 —

27,865,228 29,814,659

— 212

5,414 —

(2,506) (619)

Year Ended

December 30, December 31,

2018 2017

26,731,917 28,969,630

(1,071) (63)

Three Months Ended

(In thousands)December 30,

2018

December 31,

2017

— (27,138) — (27,138)

— (24,069) — (25,396)

2424

Reconciliation of Free Cash Flow Conversion

Net income (loss) attributable to Masonite $ 92,710

Add: Restructuring costs

Add: Asset Impairment

Add: Loss (gain) on disposal of subsidiaries

Add: Loss on extinguishment of debt

Add: Income tax benefit as a result of U.S. Tax ReformAdd: Income tax benefit as a result of the release of valuation allowances

Income tax impact of adjustments

Adjusted net income (loss) attributable to Masonite

$ 102,485

Net cash flow provided by operating activities $ 203,232

Less: Capital Expenditures 82,380

Free Cash Flow $ 120,852

Free Cash Flow Conversion 118%

Year Ended

—

(2,506)

5,414

—

5,243

—

2018

1,624

(In thousands)December 30,

2525

Note Change to Prior Period SG&A and Adjusted EBITDASelling, general and administration expense (SG&A) and Adjusted EBITDA in 2017 and 2016 wererecast as a result of the adoption of ASU 2017-07, as fully described in our Annual Report on Form 10-K. This resulted in consolidated decreases of $1.1 million and $0.5 million to Adjusted EBITDA for theyears ended December 31, 2017, and January 1, 2017, respectively, compared to the same figurespreviously presented. On a segment basis, Adjusted EBITDA for the Europe segment was increased by$0.3 million and $0.2 million for the years ended December 31, 2017, and January 1, 2017,respectively, while Adjusted EBITDA for the Corporate & Other category was decreased by $1.3 millionand $0.7 million for the years ended December 31, 2017, and January 1, 2017, respectively, comparedto the same figures previously-presented. Amounts for the segments do not sum to consolidatedamounts due to rounding.

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite

2626

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 39,690$ 10,735$ 6,856$ 194$ 57,475$ Less (plus):Depreciation 7,954 2,432 3,149 2,214 15,749 Amortization 421 3,816 2,382 1,013 7,632 Shared based compensation expense - - - (562) (562) Loss (gain) on disposal of property, plant and equipment 751 62 82 1 896 Restructuring Costs 275 1,349 - - 1,624 Asset Impairment - 5,243 - - 5,243 Interest expense (income), net - - - 11,027 11,027 Other income, net of expense (57) (245) - (422) (724) Income tax expense (benefit) - - - 3,067 3,067 Net income (loss) attributable to non-controlling interest 537 - - 639 1,176 Net income (loss) attributable to Masonite 29,809$ (1,922)$ 1,243$ (16,783)$ 12,347$

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 50,510$ 8,798$ 8,649$ (3,757)$ 64,200$ Less (plus):Depreciation 7,147 2,376 2,167 2,363 14,053 Amortization 865 2,111 2,351 1,266 6,593 Shared based compensation expense - - - 2,950 2,950 Loss (gain) on disposal of property, plant and equipment 96 (220) 488 - 364 Restructuring costs - - 242 (378) (136) Interest expense (income), net - - - 8,804 8,804 Other expense (income), net - 50 - (885) (835) Income tax expense (benefit) - - - (40,802) (40,802) Net income (loss) attributable to non-controlling interest 833 - - 564 1,397 Net income (loss) attributable to Masonite 41,569$ 4,481$ 3,401$ 22,361$ 71,812$

Three Months Ended December 30, 2018

Three Months Ended December 31, 2017

2727

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 202,465$ 44,985$ 37,742$ (17,256)$ 267,936$ Less (plus):Depreciation 29,959 9,922 10,431 8,777 59,089 Amortization 1,466 14,716 9,236 3,165 28,583 Shared based compensation expense - - - 7,681 7,681 Loss (gain) on disposal of property, plant and equipment 1,799 92 180 1,399 3,470 Restructuring costs 275 1,349 - - 1,624 Asset impairment - 5,243 - - 5,243 Interest expense (income), net - - - 39,008 39,008 Loss on extinguishment of debt - - - 5,414 5,414 Other expense (income), net (57) 61 - (2,537) (2,533) Income tax expense (benefit) - - - 23,813 23,813 Net income (loss) attributable to non-controlling interest 3,402 - - 792 3,834 Net income (loss) attributable to Masonite 165,981$ 13,602$ 17,895$ (104,768)$ 92,710$

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 200,179$ 33,820$ 30,050$ (9,543)$ 254,506$ Less (plus):Depreciation 29,798 9,588 9,032 9,110 57,528 Amortization 3,369 7,867 8,742 4,397 24,375 Shared based compensation expense - - - 11,644 11,644 Loss (gain) on disposal of property, plant and equipment 770 293 328 502 1,893 Restructuring costs - (27) 2,394 (1,517) 850 Loss (gain) on disposal of subsidiaries - 212 - - 212 Interest expense (income), net - - - 30,153 30,153 Other expense (income), net - 232 - (1,802) (1,570) Income tax expense (benefit) - - - (27,560) (27,560) Net income (loss) attributable to non-controlling interest 3,519 - - 1,723 5,242 Net income (loss) attributable to Masonite 162,723$ 15,655$ 9,554$ (36,193)$ 151,739$

Year Ended December 30, 2018

Year Ended December 31, 2017