4Q17 EARNINGS PRESENTATION NYSE: DOOR

4Q17 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 2018 outlook, 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, 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'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 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 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 or year ended January 1, 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 Year in Review 2017 Financial Results Financial Outlook Summary / Q&A 3

YEAR IN REVIEW 4

Key Milestones Achieved 7 th consecutive year of positive AUP Successful Masonite brand re-launch Architectural transformation on track, with significantly improved margins UK business recovery as post-brexit currency headwinds abated Re-energized our MVantage lean operating system focus Highest new product vitality index in over a decade Successfully completed $150 million bond add-on Continued opportunistic share repurchase program Executed margin-accretive tuck-in M&A 5 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

2017 Margin Drivers Operational Headwinds Minimal volume leverage on low single digit growth in North America end markets Tightening labor availability Rising inflationary environment Wage inflation Increasing materials inflation Operational inefficiencies Cost to serve retail business Reduced 1H labor productivity Elevated distribution costs Higher freight rates and fuel costs Distribution inefficiencies Focused Recovery Actions Improved plant labor productivity Reduced plant headcount by over 400 (7%) Optimized shift schedules Plant layout changes and equipment investments to improve throughput Optimized internal supply chain Rebalanced internal facings supply for cost efficiency Repositioned inventory to improve material flow Remain focused on logistics savings via packaging, freight lane changes Additional pricing actions taken Improved operational performance in 2H17 - More to accomplish in 2018 6

Quarterly Improvement Trend YoY Adjusted EBITDA* Trend Full Year 2017 Net Sales increased 3% Full Year 2017 Adjusted EBITDA* increased 1% (in millions) $58.2 $52.9 $68.5 $68.5 $65.1 $69.7 $60.6 $64.5 Improved YoY Adjusted EBITDA growth as year progressed Operational actions began to take hold 1Q '16 1Q '17 2Q '16 2Q '17 3Q '16 3Q '17 4Q '16 4Q '17 1H Comp = (4%) 2H Comp = +7% 7 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

DW3 Acquisition Market leading tech-enabled manufacturer of premium composite doors and window components Complements and expands Masonite UK portfolio and further strengthens our position in the Repair & Remodel channel Similar door business to DSI, with B2B sales to installers and home improvement fabricators ~$60M TTM 2017 Net Sales ~$11M TTM 2017 Adj. EBITDA ~8.5x Pre Synergy Adj. EBITDA* 8 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

2017 FINANCIAL RESULTS 9

4Q17 Consolidated P&L Metrics ($ in millions) 4Q17 4Q16 B/(W) Net Sales $508.5 $481.0 5.7% Gross Profit $100.1 $96.5 3.7% Adjusted EBITDA* Bridge Vol/AUP $13 Gross Profit % 19.7% 20.1% (40 bps) Fx $3 SG&A $59.6 $63.5 6.1% Materials -$6 SG&A % 11.7% 13.2% 140 bps Factory -$2 Adj. EBITDA* $64.5 $60.6 6.4% Distribution -$5 Adj. EBITDA %* 12.7% 12.6% 10 bps Adj. EPS* $0.71 $0.55 29.1% (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations SG&A $1 Adj. EPS* excludes approximately $1.77 of tax benefits 10

North American Residential Fourth Quarter Full Year ($ in millions) 2017 B/(W) 2017 B/(W) Net Sales $358.8 6.6% $1,428.9 5.7% Adj. EBITDA* $50.5 1.2% $200.2 (5.8%) Adj. EBITDA Margin* 14.1% (70bps) 14.0% (170bps) 4Q net sales increased due to higher retail volume, pricing actions, and Canadian Dollar Fx benefit Sales volume and AUP increased across all channels Adj. EBITDA* negatively impacted by higher distribution costs, due largely to higher freight costs Elevated freight rates persisted post-hurricanes More costly mix of freight lanes continued to be managed down across the quarter (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 11

Europe Fourth Quarter Full Year ($ in millions) 2017 B/(W) 2017 B/(W) Net Sales $73.3 7.3% $291.9 (3.1%) Adj. EBITDA* $8.7 10.1% $33.6 (13.4%) Adj. EBITDA Margin* 11.9% 30bps 11.5% (140bps) 4Q net sales growth largely explained by stronger GBP Foreign exchange benefitted 4Q while remaining a headwind on full year results Strong AUP growth driven by pricing actions fully offset slightly weaker volumes and drove Adj. EBITDA* growth Growth in merchant and remodel channels offset by softer volumes in builder channel Stronger GBP vs. Euro in 4Q helped mitigate strong material inflation headwinds (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 12

Architectural Fourth Quarter Full Year ($ in millions) 2017 B/(W) 2017 B/(W) Net Sales $69.6 (0.9%) $288.5 (3.2%) Adj. EBITDA* $8.6 48.3% $30.1 19.4% Adj. EBITDA Margin* 12.4% 410bps 10.4% 200bps Significant Adjusted EBITDA* and margin improvement Strong AUP gains driven by pricing actions Benefit of rationalized manufacturing footprint A&F Wood Products exceeding management s expectations Product line consolidation and operational integration complete; 2018 focus shifts to growing volume growth via improved service levels Adj. EBITDA* Margins 8.3% +170 bps YoY 7.3% +130 bps YoY 10.2% +30 bps YoY 11.8% +240 bps YoY 12.4% +410 bps YoY Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations 13

2017 Consolidated P&L Metrics ($ in millions) 2017 2016 B/(W) Adjusted EBITDA* Bridge Net Sales $2,032.9 $1,974.0 3.0% Gross Profit $406.9 $409.6 (0.7%) Vol/AUP $50 Gross Profit % 20.0% 20.8% (80 bps) Fx -$2 SG&A $246.9 $260.4 5.2% SG&A % 12.1% 13.2% 110 bps Adj. EBITDA* $255.5 $252.5 1.2% Materials Factory Distribution -$18 -$23 -$10 Adj. EBITDA %* 12.6% 12.8% (20 bps) Adj. EPS* $3.33 $3.03 9.9% (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations SG&A $6 Continued focus on operations to drive improvement in 2018 14

Liquidity, Credit & Debt Profile Credit & Debt (millions of USD) 4Q17 4Q16 TTM Adj. EBITDA* $255.6 $252.5 TTM Interest Expense $30.2 $28.2 Total Debt $625.7 $470.7 Net Debt^ $449.0 $399.0 Liquidity & Cash Flow (millions of USD) 12 months ended 12/31/2017 12 months ended 1/1/2017 Unrestricted cash $176.7 $71.7 Total available liquidity $338.8 $222.8 Cash flow from operations $173.5 $174.0 Capital expenditures $73.8 $82.3 Share repurchases $119.9 $109.2 S&P Upgrade to BB+ on 2/12/18 (*) 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

U.S. Tax Reform Update Key Reform Elements Expected Impact to Masonite Corporate Rate US Corporate Rate reduced to 21% in 2018 Favorable Masonite revenue/profit footprint oriented to US jurisdiction Transition Tax One-time tax on cumulative foreign earnings, paid over 8 yrs. Not Applicable Masonite a Canada domiciled company Capital Expenditures Immediate write-off of qualified property acquisitions thru 2022 Favorable Masonite capex geared primarily to qualifying capital assets Interest Expense Limitation Deductibility of interest expense now capped Unknown Awaiting IRS regulations to clarify deductibility guidelines Compensation Deductions Performance based comp now included in deduction limitations Unfavorable Significant portion of equity incentives are performance based 16

2018 Viewpoints* Continued U.S. housing market growth Tailwinds Expect mid single digit growth in U.S. housing starts and completions Expect low single digit growth in the U.S. RRR market Expect recent currency recovery to largely remain Price increases taken in all business segments Tightening labor market in U.S. Headwinds Increased hiring costs and wages Increasing inflationary pressures in both commodities and logistics Previously announced Retail PLR loss will temper North America growth General uncertainty in UK economy and timing for new housing growth New products and value-added services support continued AUP growth (*) Our 2018 viewpoints are a forward-looking statement and subject to risks and uncertainties. See "Safe Harbor/Forward Looking Statement 17

2018 Outlook* 2018 P&L Metrics (includes recent acquisitions) Net Sales +6% - 8% / +5% - 7% (ex Fx) Adjusted EBITDA^ $280 - $300M Adjusted EPS^ $3.70 - $4.20 Other Key Items Tax Rate 23% 27% Cash Taxes $9 - $12M Capital Expenditures $75 - $80M (*) Our 2018 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. 18

SUMMARY 19

SUMMARY Performance momentum in 2H 2017 Higher sales volume, AUP and SG&A savings offset by inflation and operational inefficiencies Capital allocation focused on improving returns Internal investments to improve operational performance and efficiency Margin accretive M&A Opportunistic share repurchase Remain focused on achieving mid to high teen Adjusted EBITDA* margin in the longer term 2018 Investor day to be held on March 2, 2018 at the New York Stock Exchange 20 (*) See safe harbor/non-gaap financial measures on page 2 for definitions and other information and appendix for non-gaap reconciliations

APPENDIX 21

Segment Sales Walks ($ in millions) NA Residential Europe Architectural C&O 6 Consolidated 4Q16 Net Sales $336.7 $68.3 $70.2 $5.9 $481.0 Foreign Exchange $3.9 $5.2 $0.4 $0.1 $9.6 Volume $12.9 ($2.2) ($3.1) $0.7 $8.3 AUP $6.1 $2.6 $1.9 $0.0 $10.6 Other ($0.8) ($0.6) $0.2 $0.1 ($1.0) 4Q17 Net Sales $358.8 $73.3 $69.6 $6.8 $508.5 22

Segment Sales Walks ($ in millions) NA Residential Europe Architectural C&O 6 Consolidated 2016 Net Sales $1,351.3 $301.2 $297.9 $23.6 $1,974.0 Foreign Exchange $5.0 ($12.1) $0.6 ($0.1) ($6.6) Volume $44.0 $0.3 ($23.2) $0.8 $21.9 AUP $30.5 $5.6 $11.3 $0.0 $47.4 Other ($1.9) ($3.1) $1.9 ($0.7) ($3.8) 2017 Net Sales $1,428.9 $291.9 $288.5 $23.6 $2,032.9 23

Reconciliation of Adj. EPS to net income (loss) attributable to Masonite (In thousands) Three Months Ended December 31, 2017 January 1, 2017 December 31, 2017 Year Ended January 1, 2017 Net income (loss) attributable to Masonite $ 71,812 $ 15,430 $ 151,739 $ 98,622 Add: Asset impairment 1,511 1,511 Add: Loss (gain) on disposal of subsidiaries 212 (6,575) Add: Income tax benefit as a result of U.S. Tax Reform (27,138) (27,138) Add: Income tax benefit as a result of the release of valuation allowances * (24,069) (25,396) Income tax impact of adjustments 737 Adjusted net income (loss) attributable to Masonite $ 20,605 $ 16,941 $ 99,417 $ 94,295 Diluted earnings (loss) per common share attributable to Masonite ("EPS") $ 2.48 $ 0.50 $ 5.09 $ 3.17 Diluted adjusted earnings (loss) per common share attributable to Masonite ("Adjusted EPS") $ 0.71 $ 0.55 $ 3.33 $ 3.03 Shares used in computing diluted EPS and diluted Adjusted EPS 28,969,630 31,010,490 29,814,659 31,101,076 * Full year results for the year ended December 31, 2017, were reclassified from the previously-presented amounts in order to conform to the current basis of presentation. 24

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 non-controlling interest 917 596 1,513 Net income (loss) attributable to Masonite $ 35,942 $ 3,964 $ 439 $ (16,780) $ 23,565 Total (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 non-controlling interest 838 246 1,084 Net income (loss) attributable to Masonite $ 41,368 $ 5,523 $ (264 ) $ (28,799 ) $ 17,828 Total 25

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite (In thousands) Three Months Ended July 2, 2017 North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 54,606 $ 8,937 $ 7,495 $ (2,501) $ 68,537 Less (plus): Depreciation 7,296 3,394 2,414 2,173 15,277 Amortization 642 2,028 2,155 771 5,596 Share based compensation expense 3,527 3,527 Loss (gain) on disposal of property, plant and equipment 196 129 (166) 256 415 Restructuring costs (96) 503 (1,107 ) (700) Loss (gain) on disposal of subsidiaries 212 212 Interest expense (income), net 7,112 7,112 Other expense (income), net (80) 58 (22) Income tax expense (benefit) 8,932 8,932 Loss (income) from discontinued operations, net of tax 134 134 Net income (loss) attributable to noncontrolling interest 925 245 1,170 Net income (loss) attributable to Masonite $ 45,547 $ 3,350 $ 2,589 $ (24,602) $ 26,884 Total (In thousands) Three Months Ended July 3, 2016 North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 55,666 $ 12,839 $ 7,672 $ (7,661) $ 68,516 Less (plus): Depreciation 8,126 2,480 2,076 2,131 14,813 Amortization 1,225 2,393 2,064 836 6,518 Share based compensation expense 4,782 4,782 Loss (gain) on disposal of property, plant and equipment 199 61 260 Restructuring costs (103 ) (103 ) Loss (gain) on disposal of subsidiaries (1,431 ) (1,431 ) Interest expense (income), net 6,933 6,933 Other expense (income), net 22 (823 ) (801 ) Income tax expense (benefit) 2,855 2,855 Loss (income) from discontinued operations, net of tax 184 184 Net income (loss) attributable to noncontrolling interest 858 293 1,151 Net income (loss) attributable to Masonite $ 45,258 $ 9,375 $ 3,471 $ (24,749 ) $ 33,355 Total 26

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite (In thousands) Three Months Ended October 1, 2017 North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 50,126 $ 8,219 $ 8,692 $ 2,669 $ 69,706 Less (plus): Depreciation 7,871 2,008 2,081 2,214 14,174 Amortization 869 2,061 2,075 1,211 6,216 Share based compensation expense 2,740 2,740 Loss (gain) on disposal of property, plant and equipment 877 244 33 234 1,388 Restructuring costs 69 1,378 (54 ) 1,393 Interest expense (income), net 7,213 7,213 Other expense (income), net (23) (163 ) (186) Income tax expense (benefit) 5,989 5,989 Loss (income) from discontinued operations, net of tax 139 139 Net income (loss) attributable to noncontrolling interest 844 318 1,162 Net income (loss) attributable to Masonite $ 39,665 $ 3,860 $ 3,125 $ (17,172) $ 29,478 Total (In thousands) Three Months Ended October 2, 2016 North American Residential Europe Architectural Corporate & Other 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 noncontrolling interest 926 231 1,157 Net income (loss) attributable to Masonite $ 45,374 $ 3,503 $ 2,968 $ (19,836 ) $ 32,009 Total 27

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite Three Months Ended December 31, 2017 (In thousands) North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 50,510 $ 8,734 $ 8,649 $ (3,427) $ 64,466 Less (plus): Depreciation 7,147 2,376 2,167 2,363 14,053 Amortization 865 2,111 2,351 1,266 6,593 Share 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 (14) (620) (634) Income tax expense (benefit) (40,802) (40,802) Loss (income) from discontinued operations, net of tax 65 65 Net income (loss) attributable to non-controlling interest 833 564 1,397 Total Net income (loss) attributable to Masonite $ 41,569 $ 4,481 $ 3,401 $ 22,361 $ 71,812 Three Months Ended January 1, 2017 (In thousands) North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 49,930 $ 7,905 $ 5,828 $ (3,014) $ 60,649 Less (plus): Depreciation 7,447 1,972 2,797 2,010 14,226 Amortization 870 1,997 1,773 888 5,528 Share based compensation expense 6,868 6,868 Loss (gain) on disposal of property, plant and equipment 252 391 378 1,021 Restructuring costs (2 ) 1,313 3 1,314 Asset impairment 1,511 1,511 Interest expense (income), net 7,028 7,028 Other expense (income), net 411 (1,156 ) (745 ) Income tax expense (benefit) 6,196 6,196 Loss (income) from discontinued operations, net of tax 144 144 Net income (loss) attributable to non-controlling interest 767 1,361 2,128 Total 28 Net income (loss) attributable to Masonite $ 40,594 $ 3,136 $ (1,944 ) $ (26,356 ) $ 15,430

Reconciliation of Adj. EBITDA to net income (loss) attributable to Masonite Year Ended December 31, 2017 (In thousands) North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 200,179 $ 33,564 $ 30,050 $ (8,225 ) $ 255,568 Less (plus): Depreciation 29,798 9,588 9,032 9,110 57,528 Amortization 3,369 7,867 8,742 4,397 24,375 Share 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 (24) (1,067 ) (1,091) Income tax expense (benefit) (27,560 ) (27,560) Loss (income) from discontinued operations, net of tax 583 583 Net income (loss) attributable to non-controlling interest 3,519 1,723 5,242 Total Net income (loss) attributable to Masonite $ 162,723 $ 15,655 $ 9,554 $ (36,193 ) $ 151,739 Year Ended January 1, 2017 (In thousands) North American Residential Europe Architectural Corporate & Other Adjusted EBITDA $ 212,619 $ 38,795 $ 25,160 $ (24,061 ) $ 252,513 Less (plus): Depreciation 31,159 8,480 9,622 8,343 57,604 Amortization 4,383 9,069 7,999 3,276 24,727 Share based compensation expense 18,790 18,790 Loss (gain) on disposal of property, plant and equipment 1,094 564 484 (31) 2,111 Restructuring costs 19 1,313 113 1,445 Asset impairment 1,511 1,511 Loss (gain) on disposal of subsidiaries (1,431 ) (5,144 ) (6,575 ) Interest expense (income), net 28,178 28,178 Other expense (income), net 557 (2,516 ) (1,959 ) Income tax expense (benefit) 21,787 21,787 Loss (income) from discontinued operations, net of tax 752 752 Net income (loss) attributable to non-controlling interest 3,389 2,131 5,520 Total 29 Net income (loss) attributable to Masonite $ 172,594 $ 21,537 $ 4,231 $ (99,740 ) $ 98,622