3Q18 EARNINGS PRESENTATION

NYSE: DOOR

22

Safe Harbor / Non-GAAP Financial Measures

SAFE HARBOR / FORWARD LOOKING STATEMENTThis earnings 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 ofour 2018 outlook, housing and other markets, and the effects of our restructuring and strategic initiatives. When used in this press release, such forward-looking statements may be identified by the useof 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 theactual results, performance or achievements of Masonite, or industry results, to be materially different from any future plans, goals, targets, objectives, results, performance or achievements expressedor 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, andwill 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-lookingstatements 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 andinflation; 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 yearprocess 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 acquirein 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 obligationsunder 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 anyshortage 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; ourability to maintain relationships with certain customers; the ability to generate the benefits of our restructuring activities; retention of key management personnel; environmental and other governmentregulations; 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 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 which does not have a standardized meaning under GAAP and is unlikely to be comparable to similar measures used by other companies. AdjustedEBITDA 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 offree 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. Adjusted EBITDA isdefined as net income (loss) attributable to Masonite adjusted to exclude the following items: depreciation; amortization; share based compensation expense; loss (gain) on disposal of property, plantand equipment; registration and 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 discontinued operations, net of tax; and net income (loss) attributable to non-controlling interest. This definition of Adjusted EBITDAdiffers from the definitions of EBITDA contained in the indenture governing the 2023 and 2026 Notes and the credit agreement governing the ABL Facility. Adjusted EBITDA, as calculated under ourABL 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 orexpected 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 orother 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 tablesin 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 AdjustedEBITDA 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 areprimarily 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, loss on extinguishment of debt, and otheritems, 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 AdjustedEPS 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 assetsare likely to be realized in future periods. The revision to this definition had no impact on our reported Adjusted EPS for the three or nine months ended September 30, 2018 or October 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 underlyingperformance of the Company from period to period. This measure may be inconsistent with similar measures presented by other companies.

3

Agenda

• Third Quarter Overview

• Financial Review

• Summary / Q&A

4

THIRD QUARTER OVERVIEW

55

3Q18 Highlights

8% Net Sales growth Acquisition growth balanced against

moderating end markets

>4% Average Unit Price (AUP) growth in all segments

2% Adj. EBITDA* growth

Higher Adj. EBITDA* margins across all segments, offset by the impact of higher Corporate costs

$300M August bond offering; continued disciplined capital deployment with $34M share repurchase

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

Operational AspectsFinancial Performance

Rising costs offsetting operational improvements and higher AUP Additional price increases communicated

across all channels

Higher commodity inflation as anticipated, tariffs began to be felt Preparing for higher tariffs in 2019

Improving mix through continued product initiatives

Acquisitions delivering growth and synergies A&F and DW3 continue to perform well,

Graham & Maiman integration on track

66

TTM Adj. EBITDA* Trend

($ in millions)

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

Higher 3Q Corp costs due to incentive comp, wage/benefits and acquisitions

Adj. EBITDA* Progress

3Q Segment Performance

$137

$204

$252 $255$275

2014 2015 2016 2017 3Q18

Adj. EBITDA* / Adj. EBITDA* margin

NA Residential +$3M +70 bps

Europe +$2M +60 bps

Architectural +$3M +40 bps

Corporate ($7M) n/m

YOY Change

77

2018 Housing Markets

U.S. Housing Starts

U.S. Housing Completions

Macroeconomic indicators

Moderating U.S. housing growth in the quarter Single family housing starts have

slowed to lowest level in 18 months

Canadian starts down 12% in 3Q18 Multi-family starts turned negative in the

quarter while single-family starts remained negative YoY

U.K. new housing starts up 2% in 3Q18, while housing completions turned negative in the quarter

Source: U.S. Census Bureau

Source: U.S. Census Bureau

11.8%

7.1%6.0%

8.6%

2.5%

-16.8%

-12.6%

7.2% 6.8% 7.8%5.9%

3.2%

6.3%

8.3%

3.3%

3Q17 4Q17 1Q18 2Q18 3Q18SF MF Equivalent

7.4%

5.3%

9.6%

6.3%

9.3%

11.6%

2.2%

6.6%5.8%

-2.7%

8.1%

4.7%

9.0%

6.2%7.3%

3Q17 4Q17 1Q18 2Q18 3Q18

SF MF Equivalent

8

Cost and Margin Initiatives

MVantage Operating System

Renewed focus on belt certifications & Kaizen

Structured 3 month transformation projects to drive out waste in key NA plants, supported by CI team

Manufacturing Footprint

Shifting production to lower cost regions

Relocating/automating cutstock components plant

Product Portfolio

Steadily improving Vitality Index

Rationalizing low-volume and/or non-differentiated SKUs to unlock capacity for higher margin products

UK Restructuring

Consolidating warehousing/shipping operations

Combining back office activities (*) – Vitality index is defined as percentage of sales from products introduced in the last 5 years

Sourcing Strategies

Price negotiations, supplier footprint shifts to mitigate impact of tariffs on China-sourced material

99

BWI Acquisition

Leading provider of doors and door systems in the Northeast and Mid-Atlantic region Strong historical relationship as

their largest supplier

Would represent ~$55 million incremental revenue to Masonite

Purchase price of ~$23 million before post-close adjustments

Affords opportunity to expand presence and better service customers in the Northeast

10

FINANCIAL REVIEW

1111

$7

($5)

Flat

($7)

($6)

($2)

$15

Acquisitions

SG&A

Distribution

Factory

Materials

Fx

Volume/Mix/Price

3Q18 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

Adjusted EBITDA* Bridge

Primarily wage/benefit &

overhead inflation

($ in millions) 3Q18 3Q17 B/(W)

Net Sales $557.1 $517.5 7.7%

Gross Profit $110.8 $104.0 6.5%

Gross Profit % 19.9% 20.1% (20 bps)

SG&A $64.5 $59.1 (9.1%)

SG&A % 11.6% 11.4% (20 bps)

Adj. EBITDA* $70.8 $69.4 2.0%

Adj. EBITDA %* 12.7% 13.4% (70 bps)

GAAP EPS $0.89 $1.00 (11.0%)

Adj. EPS* $1.03 $1.00 3.0%

12

North American Residential

High-single-digit growth in wholesale business, offset by previously announced lost business in retail channel

AUP up across channels and product categories

Higher end/differentiated product (i.e. Heritage) performing well and vitality index continuing to increase

Higher raw material costs and timing of factory maintenance costs were an offset

Announced relocation of cutstock component facility from CA to NV

Planned to increase output and reduce headcount using targeted automation

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

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

Net Sales $368.3 1.1% $1,105.8 3.3%

Net sales ex-Fx 2.2% 3.1%

Adj. EBITDA* $53.4 6.6% $162.8 8.8%

Adj. EBITDA Margin* 14.5% 70bps 14.7% 70bps

YTDThird Quarter

13

Europe

Continued soft end-market conditions in UK

DW3 continues to deliver solid top line growth and strong Adj. EBITDA margin

Strong AUP growth on pricing actions taken to address material cost inflation

Initiated footprint rationalization in the UK to improve operational efficiencies and cost structure

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

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

Net Sales $91.2 21.9% $279.1 27.7%

Net sales ex-Fx & Acq (2.4%) (0.7%)

Adj. EBITDA* $10.7 28.9% $34.3 37.2%

Adj. EBITDA Margin* 11.7% 60bps 12.3% 90bps

YTDThird Quarter

14

Architectural

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

Mid-single-digit AUP gains offset by base volume decline

Slower than anticipated recovery from 2017 Architectural transformation actions

September ramp-down of Northumberland facility in preparation for October ERP conversion

Continued Adj. EBITDA* and Adj. EBITDA* margin improvement, despite discrete headwinds:

Lapping closure of Algoma, WI plant in 3Q 2017

Impact of Graham and Maiman acquisition

Graham & Maiman acquisition integration on track

Continue to expect double digit Adj. EBITDA* margin for this business by 2nd year following acquisition

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

Net Sales $92.1 25.1% $240.5 9.9%

Net sales ex-Fx & Acq (0.7%) (4.5%)

Adj. EBITDA* $11.2 28.7% $30.9 44.4%

Adj. EBITDA Margin* 12.2% 40bps 12.8% 300bps

YTDThird Quarter

1515

Liquidity, Credit & Debt Profile

Credit & Debt (millions of USD)

TTM Adj. EBITDA* $275 $250

TTM Interest Expense $37 $28

Total Debt $796 $626

Net Debt^ $604 $475

3Q18 3Q17

9 months ended 9/30/2018

9 months ended 10/1/2017

Unrestricted cash $193 $151

Total available liquidity $355 $323

Cash flow from operations $141 $98

Capital expenditures $51 $52

Share repurchases $95 $110

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

16

SUMMARY

Continued to execute in challenging cost environment, additional pricing communicated

Higher Adj. EBITDA margins at businesses, offset by higher Corporate costs

Focused cost initiatives continue

MVantage lean activities to transform plants

Cutstock plant relocation

UK restructuring actions underway

Disciplined capital allocation

Internal investments to improve operational performance and efficiency

Strategic M&A balanced with opportunistic share repurchase

Expect to be near or at the low-end of original full year Adj. EBITDA* outlook range for 2018

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

17

APPENDIX

1818

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

3Q17 Net Sales $364.2 $74.8 $73.6 $4.9 $517.5

Acquisitions $0.0 $18.5 $19.4 $0.0 $37.9

Base Volume ($9.0) ($5.0) ($5.9) $0.5 ($19.4)

AUP $15.6 $3.3 $3.2 $0.0 $22.1

Other $1.4 ($0.1) $2.2 $0.2 $3.7

Foreign Exchange ($3.9) ($0.3) ($0.4) $0.1 ($4.6)

3Q18 Net Sales $368.3 $91.2 $92.1 $5.6 $557.1

Segment Sales Walks

1919

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

Net income (loss) attributable to Masonite $ 24,796 $ 29,478 $ 80,363 $ 79,927

Add: Loss (gain) on disposal of subsidiaries

Add: Loss on extinguishment of debt

Income tax impact of adjustments

Adjusted net income (loss) attributable to Masonite

$ 28,775 $ 29,478 $ 84,342 $ 80,139

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

$ 0.89 $ 1.00 $ 2.85 $ 2.65

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

$ 1.03 $ 1.00 $ 2.99 $ 2.66

Shares used in computing diluted EPS

Three Months Ended

(In thousands)September 30,

2018

October 1,

2017

—

5,414 —

27,911,940 29,574,793

(1,435) —

—

Nine Months Ended

September 30, October 1,

2018 2017

28,234,063 30,136,303

— 212

5,414 —

(1,435) —

2020

Note Change to Prior Period SG&A and Adjusted EBITDASelling, general and administration expenses (SG&A) and Adjusted EBITDA in2017were recast as a result of the adoption of ASU 2017-07, as fully described in ourQuarterly Report on Form 10-Q. This resulted in a consolidated increase of $0.3million and $0.8 million to SG&A, which in turn resulted in a $0.3 million and $0.8million decrease to Adjusted EBITDA for the three and nine months ended October 1,2017, respectively, compared to the same figures previously presented. On a segmentbasis, Adjusted EBITDA for the Europe segment was increased by $0.1 million and$0.2 million for the three and nine months ended October 1, 2017, while AdjustedEBITDA for the Corporate & Other category was decreased by $0.3 million and $1.0million for the three and nine months ended October 1, 2017, respectively, comparedto the same figures previously-presented. Amounts for the segments do not sum toconsolidated amounts due to rounding.

The impact of the adoption on fiscal year 2016 was a $0.5 million increase in SG&Aand a $0.5 million decrease in Adjusted EBITDA for both the fourth quarter and the fullyear compared to the same figures previously-presented.

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

2121

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

Consolidated Twelve Months Ended

January 3, January 1 December 31, September 30, (in thousands) 2016 2017 2017 2018

Adjusted EBITDA 204,197$ 252,013$ 254,506$ 274,661$ Less (plus):Depreciation 59,160 57,604 57,528 57,393 Amortization 23,725 24,727 24,375 27,544 Shared based compensation expense 13,236 18,790 11,644 11,193 Loss (gain) on disposal of property, plant and equipment 1,371 2,111 1,893 2,938 Restructuring costs 5,678 1,445 850 (136) Asset impairment 9,439 1,511 - - Loss (gain) on disposal of subsidiaries 59,984 (6,575) 212 - Interest expense (income), net 32,884 28,178 30,153 36,785 Loss on extinguishment of debt 28,046 - - 5,414 Other expense (income), net (1,757) (2,459) (2,153) (3,247) Income tax expense (benefit) 14,172 21,787 (27,560) (20,056) Loss (income) from discontinued operations, net of tax 908 752 583 603 Net income (loss) attributable to non-controlling interest 4,462 5,520 5,242 4,055 Net income (loss) attributable to Masonite (47,111)$ 98,622$ 151,739$ 152,175$

Year Ended

2222

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

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 53,414$ 10,678$ 11,228$ (4,559)$ 70,761$ Less (plus):Depreciation 7,571 2,612 3,060 2,463 15,706 Amortization 269 3,603 2,343 826 7,041 Shared based compensation expense - - - 1,640 1,640 Loss (gain) on disposal of property, plant and equipment 43 24 (5) - 62 Interest expense (income), net - - - 10,151 10,151 Loss on extinguishment of debt - - - 5,414 5,414 Other expense (income), net - 124 - (1,229) (1,105) Income tax expense (benefit) - - - 6,151 6,151 Loss (income) from discontinued operations, net of tax - - - 157 157 Net income (loss) attributable to non-controlling interest 644 - - 104 748 Net income (loss) attributable to Masonite 44,887$ 4,315$ 5,830$ (30,236)$ 24,796$

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 50,126$ 8,283$ 8,692$ 2,340$ 69,441$ Less (plus):Depreciation 7,871 2,008 2,081 2,214 14,174 Amortization 869 2,061 2,075 1,211 6,216 Shared 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 - 41 - (492) (451) Income tax expense (benefit) - - - 5,989 5,989 Loss (income) from discontinued operations, net of tax - - - 139 139 Net income (loss) attributable to non-controlling interest 844 - - 318 1,162 Net income (loss) attributable to Masonite 39,665$ 3,860$ 3,125$ (17,172)$ 29,478$

Three Months Ended September 30, 2018

Three Months Ended October 1, 2017

2323

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

(in thousands)

North

American Residential Europe Architectural

Corporate & Other Consolidated

Adjusted EBITDA 162,775$ 34,250$ 30,886$ (17,450)$ 210,461$ Less (plus):Depreciation 22,005 7,490 7,282 6,563 43,340 Amortization 1,045 10,900 6,854 2,152 20,951 Shared based compensation expense - - - 8,243 8,243 Loss (gain) on disposal of property, plant and equipment 1,048 30 98 1,398 2,574 Interest expense (income), net - - - 27,981 27,981 Loss on extinguishment of debt - - - 5,414 5,414 Other expense (income), net - 306 - (2,653) (2,347) Income tax expense (benefit) - - - 20,746 20,746 Loss (income) from discontinued operations, net of tax - - - 538 538 Net income (loss) attributable to non-controlling interest 2,505 - - 153 2,658 Net income (loss) attributable to Masonite 136,172$ 15,524$ 16,652$ (87,985)$ 80,363$

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 149,669$ 25,022$ 21,401$ (5,786)$ 190,306$ Less (plus):Depreciation 22,651 7,212 6,865 6,747 43,475 Amortization 2,504 5,756 6,391 3,131 17,782 Shared based compensation expense - - - 8,694 8,694 Loss (gain) on disposal of property, plant and equipment 674 513 (160) 502 1,529 Restructuring costs - (27) 2,152 (1,139) 986 Loss (gain) on disposal of subsidiaries - 212 - - 212 Interest expense (income), net - - - 21,349 21,349 Other expense (income), net - 182 - (1,435) (1,253) Income tax expense (benefit) - - - 13,242 13,242 Loss (income) from discontinued operations, net of tax - - - 518 518 Net income (loss) attributable to non-controlling interest 2,686 - - 1,159 3,845 Net income (loss) attributable to Masonite 121,154$ 11,174$ 6,153$ (58,554)$ 79,927$

Nine Months Ended September 30, 2018

Nine Months Ended October 1, 2017