1Q17 EARNINGS PRESENTATION NYSE: DOOR

1Q17 EARNINGS PRESENTATION NYSE: DOOR

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. 2

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

COMPANY OVERVIEW 4

1Q17 Highlights Business Performance 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 Key Initiatives 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 5

Business Trends Home Depot (FL) Ramp New Products Home Depot Florida store roll out began in March 2017 New branding New kiosks New packaging Heritage Series Exterior Doors Style matches our successful Craftsmen-style interior doors Relevant industry trend Introduced new fir-grain texture 6

Branding / Marketing 13.1 million media impressions Paid media drove 28,000 website page views >50% of website visitors identifying as Professionals 7

Growing the Business Delivering an Extraordinary Customer Experience Online direct order platform for select offering of premium door systems, delivered right to jobsite within 5 days Test program in Florida market Location: Central Florida Timing: Anticipated Q2 2017 8

FINANCIAL REVIEW 9

1Q17 Consolidated P&L Metrics ($ in millions) 1Q17 1Q16 +/- Net Sales $487.2 $489.3-0.4% +1% ex-fx 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% - Brand launch costs offset by other SG&A reductions Adj. EBITDA* $52.9 $58.2-9.1% Adj. EBITDA %* 10.9% 11.9% -100 bps Adj. EPS^ $0.77 $0.57 35.1% (*) 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 10

North American Residential First Quarter ($ 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 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 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) 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 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 12 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

Architectural First Quarter ($ 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 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 13 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

Liquidity, Credit & Debt Profile Credit & Debt (millions of USD) 1Q17 1Q16 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 Liquidity & Cash Flow (millions of USD) 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 (*) 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

Long-Term Growth Framework Net Sales Cash Flow Deployment $2.0 7% - 9% CAGR 2016 2019 Adjusted EBITDA* Margin 12.8% 16% - 17% Fund Working Capital Strategic Acquisitions CapEx to Support Growth Opportunistic Share Repurchase 2016 2019 (^) - 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. 15

SUMMARY 16

SUMMARY 17 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 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

APPENDIX 18

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 19

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite (In thousands) Three Months Ended April 2, 2017 North American Residential Europe Architectural Corporate & Other 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 noncontrolling interest 917 596 1,513 Net income (loss) attributable to Masonite $ 35,942 $ 3,964 $ 439 $ (16,780) $ 23,565 Total 20 (In thousands) Three Months Ended April 3, 2016 North American Residential Europe Architectural Corporate & Other 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 41 (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 noncontrolling interest 838 246 1,084 Net income (loss) attributable to Masonite $ 41,368 $ 5,523 $ (264 ) $ (28,799 ) $ 17,828 Total