1Q18 EARNINGS PRESENTATION NYSE: DOOR

1Q18 EARNINGS PRESENTATION NYSE: DOOR

Safe Harbor / Non-GAAP Financial Measures SAFE HARBOR / FORWARD LOOKING STATEMENT This press release 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 2018 outlook, housing and other markets, and the effects of our strategic initiatives. When used in this press release, 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 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, including foreign exchange rate fluctuation and inflation; levels of residential new construction; residential repair, renovation and remodeling; and non-residential building construction activity; the United Kingdom's formal trigger of the two year process for its exit from the European Union and related negotiations; 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 wages or any shortage in supplies or labor; our ability to keep pace with technological developments; cyber security threats and attacks; 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 fourth 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 or diluted Adjusted EPS 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 is diluted earnings per common share attributable to Masonite (EPS) less asset impairment charges, loss (gain) on disposal of subsidiaries, and other items, if any, that do not relate to Masonite s underlying business performance (each net of related tax expense (benefit)). Beginning in the fourth quarter of 2017, we revised our calculation of Adjusted EPS to 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. The revision to this definition had no impact on our reported Adjusted EPS for the three months ended April 1, 2018 or April 2, 2017. 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. 2

Agenda First Quarter Overview Financial Review Summary / Q&A 3

FIRST QUARTER OVERVIEW 4

1Q18 Highlights 6% Net Sales growth AUP growth in all segments 17% Adj. EBITDA* growth Improving year over year gross margin and Adj. EBITDA margin* Solid operational performance in spite of difficult weather Solid Business Performance 69 production shifts lost in North America 15 production shifts lost in UK Key Initiatives Delivering Expected Results Driving improved productivity MVantage lean operating system Employee engagement Automation initiatives Manage costs and pricing in a rising inflation environment Strength in new products Disciplined capital deployment Completed acquisition of DW3 Repurchased 692K shares for $44 million ($60 million YTD) (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 5

2018 Housing Markets U.S. Housing Starts Source: U.S. Census Bureau 10.5% 11.8% 9.3% 6.1% 6.9% 5.9% 7.1% 7.5% 6.0% 6.3% 4.1% 3.2% -12.6% -15.6% -16.8% 1Q17 2Q17 3Q17 4Q17 1Q18 SF MF Equivalent U.S. Housing Completions 23.2% 11.6% 10.3% 9.7% 9.2% 7.3% Source: U.S. Census Bureau 11.6% 8.9% 8.1% 8.4% 7.4% 6.1% 5.3% 4.7% 2.2% Macroeconomic indicators Continued U.S. new housing growth Percentage of U.S. multi-family starts has increased in the first quarter of 2018 (>32% of total starts) Canadian starts up 1% in 1Q18 Growth in Canada exclusively from multi-family U.K. new housing starts down 13% in 1Q18, largely due to inclement weather 1Q17 2Q17 3Q17 4Q17 1Q18 6 SF MF Equivalent

Cost Environment Steel price index Jan 2017 - Present $828 $825 Dec 2017 $1,000 Cost Inflation Masonite expects 3% - 3.5% net materials inflation in 2018 versus 2017 Source: www.eia.gov Crude Oil index Jan 2017 - Present $53 $58 Dec 2017 $65 Commodities Indices Steel up 20% since year end Oil up 12% since year end Lumber up 4% for millwork Source: CRU Group Millwork pricing index Jan 2017 - Present Freight inflation driving higher distribution costs $765 $790 $820 Dec 2017 Source: Crows price data 7

Adj. EBITDA* Progression (TTM) ($ in millions) $263.3 $248.7 $252.0 $246.4 $246.1 $250.5 $254.5 $234.1 $224.7 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 Returned to positive Adjusted EBITDA* progression (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 8

FINANCIAL REVIEW 9

1Q18 Consolidated P&L Metrics ($ in millions) 1Q18 1Q17 B/(W) Adjusted EBITDA* Bridge Net Sales $517.9 $487.2 6.3% Gross Profit $105.4 $95.6 10.3% Vol/AUP^ $14 Gross Profit % 20.4% 19.6% 80 bps Fx $2 SG&A $68.2 $65.1 (4.8%) Materials -$5 SG&A % 13.2% 13.4% 20 bps Adj. EBITDA* $61.4 $52.6 16.7% Adj. EBITDA %* 11.9% 10.8% 110 bps Adj. EPS* $0.73 $0.77 (5.2%) Factory Distribution SG&A -$3 $1 Flat ex-fx & Acq. (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations (^) Includes impact of acquisitions 10

North American Residential First Quarter ($ in millions) 2018 B/(W) Net Sales $359.7 6.4% Net sales ex-fx 5% Adj. EBITDA* $50.4 12.2% Adj. EBITDA Margin* 14.0% 70bps Pricing actions mitigating inflationary environment Strong new product sales Adj. EBITDA* growth a result of higher AUP, foreign exchange benefits and improved factory productivity 11 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

Europe First Quarter ($ in millions) 2018 B/(W) Net Sales $87.1 24.4% Net sales ex-fx 12% Adj. EBITDA* $9.9 28.6% Adj. EBITDA Margin* 11.4% 30bps Foreign exchange added 13% to sales growth Strong AUP growth Base volume down due to inclement weather in quarter and the slower UK economy DW3 acquisition delivered solid growth with accretive adjusted EBITDA margin* (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 12

Architectural First Quarter ($ in millions) 2018 B/(W) Net Sales $66.7 (7.1%) Net sales ex-fx (8%) Adj. EBITDA* $7.7 48.1% Adj. EBITDA Margin* 11.5% 420bps Significant Adj. EBITDA* and Adj. EBITDA margin* improvement Strong AUP gains driven by pricing actions Benefit of rationalized manufacturing footprint Solid performance in quick ship business Project order timing and inclement weather led to soft demand in early 1Q (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 13

Liquidity, Credit & Debt Profile Credit & Debt (millions of USD) 1Q18 1Q17 TTM Adj. EBITDA* $263.3 $246.4 TTM Interest Expense $31.9 $28.0 Total Debt $625.7 $471.2 Net Debt^ $588.0 $436.7 Liquidity & Cash Flow (millions of USD) 3 months ended 4/1/2018 3 months ended 4/2/2017 Unrestricted cash $37.7 $34.5 Total available liquidity $197.7 $187.5 Cash flow from operations $27.2 ($2.5) Capital expenditures $21.8 $14.7 Share repurchases $44.2 $11.3 (*) 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 14

SUMMARY 15

SUMMARY Solid quarter with net sales and Adj. EBITDA* growth Price and productivity expanded gross margins MVantage driving continuous improvements in manufacturing plants Capital allocation focused on improving returns Internal investments to improve operational performance and efficiency Strategic M&A Opportunistic share repurchase On track to deliver on 2018 outlook 16 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

APPENDIX 17

Segment Sales Walks ($ in millions) NA Residential Europe Architectural C&O 6 Consolidated 1Q17 Net Sales $338.0 $70.0 $71.8 $7.3 $487.2 Foreign Exchange $4.0 $9.0 $0.4 $0.1 $13.5 Base Volume $11.4 ($8.6) ($11.1) ($1.3) ($9.7) Acquisitions $0.0 $11.2 $2.9 $0.0 $14.1 AUP $6.4 $5.6 $3.2 $0.0 $15.2 Other ($0.1) ($0.1) ($0.5) ($1.7) ($2.4) 1Q18 Net Sales $359.7 $87.1 $66.7 $4.4 $517.9 18

Reconciliation of Adj. EPS to net income (loss) attributable to Masonite (In thousands) Three Months Ended April 1, 2018 April 2, 2017 Net income (loss) attributable to Masonite $ 20,826 $ 23,565 Add: Asset impairment Add: Loss (gain) on disposal of subsidiaries Tax impact of adjustments Adjusted net income (loss) attributable to Masonite $ 20,826 $ 23,565 Diluted earnings (loss) per common share attributable to Masonite ("EPS") $ 0.73 $ 0.77 Diluted adjusted earnings (loss) per common share attributable to Masonite ("Adjusted EPS") $ 0.73 $ 0.77 Shares used in computing diluted EPS 28,672,262 30,454,988 19

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite Note Change to Prior Period SG&A and Adjusted EBITDA Selling, general and administration expenses (SG&A) and Adjusted EBITDA in 2017 were recast as a result of the adoption of ASU 2017-07, as fully described in our Quarterly Report on Form 10-Q. This resulted in a consolidated increase of $0.3 million to SG&A, which in turn resulted in a $0.3 million decrease to Adjusted EBITDA for the three months ended April 2, 2017, compared to the same figure previously presented. On a segment basis, Adjusted EBITDA for the three months ended April 2, 2017, was increased by $0.1 million in the Europe segment and was decreased in the Corporate & Other category by $0.3 million, compared to the same figures previouslypresented. Each quarter in 2017 was impacted similarly, resulting in a $1.1 million increase in SG&A and a $1.1 million decrease in Adjusted EBITDA for the full year compared to the same figures previously-presented. The impact of the adoption on fiscal year 2016 was a $0.5 million increase in SG&A and a $0.5 million decrease in Adjusted EBITDA for both the fourth quarter and the full year compared to the same figures previously-presented. 20

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite (In thousands) Three Months Ended April 1, 2018 North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 50,398 $ 9,930 $ 7,660 $ (6,574) $ 61,414 Less (plus): Depreciation 7,344 2,303 2,030 2,257 13,934 Amortization 481 3,239 2,254 611 6,585 Share based compensation expense 3,065 3,065 Loss (gain) on disposal of property, plant and equipment 533 79 612 Interest expense (income), net 8,756 8,756 Other expense (income), net 35 (307 ) (272) Income tax expense (benefit) 6,701 6,701 Loss (income) from discontinued operations, net of tax 250 250 Net income (loss) attributable to noncontrolling interest 970 (13) 957 Net income (loss) attributable to Masonite $ 41,070 $ 4,353 $ 3,297 $ (27,894) $ 20,826 Total (In thousands) Three Months Ended April 2, 2017 North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 44,937 $ 7,738 $ 5,214 $ (5,295) $ 52,594 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 157 (671 ) (514 ) Income tax expense (benefit) (1,679 ) (1,679 ) Loss (income) from discontinued operations, net of tax 245 245 Net income (loss) attributable to noncontrolling interest 917 596 1,513 Net income (loss) attributable to Masonite $ 35,942 $ 3,964 $ 439 $ (16,780 ) $ 23,565 Total 21

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite April 3, 2016 July 3, 2016 October 2, 2016 Twelve Months Ended January 1, April 2, July 2, 2017 2017 2017 October 1, 2017 December Adjusted EBITDA 224,650 234,109 248,704 252,013 246,366 246,121 250,455 254,506 263,326 Less (plus): Depreciation 58,424 58,827 58,268 57,604 57,058 57,522 57,701 57,528 57,438 Amortization 25,178 26,721 26,680 24,727 24,233 23,311 23,310 24,375 24,990 Shared based compensation expense 14,585 16,261 18,183 18,790 17,489 16,234 15,562 11,644 12,282 Loss (gain) on disposal of property, plant and equipment 1,559 1,469 1,876 2,111 1,705 1,860 2,550 1,893 2,779 Restructuring costs 3,341 2,250 1,326 1,445 1,719 1,122 2,300 850 557 Asset impairment 9,439 9,439-1,511 1,511 1,511 1,511 - - Loss (gain) on disposal of subsidiaries 59,984 58,553 23,688 (6,575) (6,575) (4,932) 212 212 212 Interest expense (income), net 28,363 28,509 28,315 28,178 27,970 28,149 28,377 30,153 31,885 Other expense (income), net 213 47 568 (2,459) (3,759) (3,246) (2,498) (2,153) (1,911) Income tax expense (benefit) 18,114 5,956 14,992 21,787 13,898 19,975 19,438 (27,560) (19,180) Loss (income) from discontinued operations, net of tax 867 811 855 752 809 759 662 583 588 Net income (loss) attributable to non-controlling interest 3,810 4,580 4,975 5,520 5,949 5,968 5,973 5,242 4,686 Net income (loss) attributable to Masonite 773 20,686 68,978 98,622 104,359 97,888 95,357 151,739 149,000 31, 2017 April 1, 2018 22