JP MORGAN HOMEBUILDING AND BUILDING PRODUCTS CONFERENCE

NYSE: DOOR

May 15, 2019

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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 long term growth framework, discussion of housing and other markets, andthe 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 unknown risks, uncertaintiesand 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 bysuch 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 suchresults 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 economic conditions; reduced levelsof 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 changes and reduced availability offinancing; 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 United States 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 including anticipating demand for ourproducts, managing disruptions in our operations, managing manufacturing realignments (including related restructuring charges), managing customer credit risk and successful integration of acquisitions; the continuous operation of our informationtechnology 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 our pension obligations, and to meetour 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 United Kingdom's anticipated exit from theEuropean 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 governmentregulations, 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 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 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 EPS is diluted earnings per common share attributable to Masonite (EPS) less restructuring costs, asset impairment charges, loss (gain) on disposal of subsidiaries, loss on extinguishment of debt and other items, if any, that do not relate toMasonite’s underlying business performance (each net of related tax expense (benefit)). In the fourth quarter of 2018, we changed the definition of Adjusted EPS to exclude restructuring charges and related tax impacts. This change had no impact toAdjusted EPS for the three months ended April 1, 2018. 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.

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Company Overview

Masonite at a Glance

Net Sales of ~$2.2 billion in 2018

~34 million doors sold in 2018

Serving approximately 9,000 customers in 64 countries

Established leadership positions* in all targeted product categories in North America Residential

2018 Net Sales by Segment 2018 Net Sales of Doors by End Market

North American

Residential 67%

Europe 17%

Architectural 15%

Corporate & Other 1%

Residential new construction

36%

Residential repair, renovation and remodeling

50%

Total non-residential

construction 14%

(*) – Defined as #1 or #2 in North America

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Vertical Integration

Three layers of vertically integrated supply chain; Residential example shown here:

Components Production

► 5 molded facilities globally

• 8 press lines

• Insured replacement value of >$1 billion

► Additional plants produce door core and other components

Slab Assembly

► 14 North American assembly plants

• 9 producing interior

• 5 producing steel entry

• 3 producing FG entry

► 4 UK plants

Door Fabrication

► 9 North American facilities

► Services retail customers and contractors/installers

► Pre-hanging and pre-finishing services

Similar vertical integration employed in Architectural business

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1969 1973 1977 1981 1985 1989 1993 1997 2001 2005 2009 2013 201735

40

45

50

55

60

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

End Market Trends

Source: Architectural Billings Index (Rolling 12 month average)

Score above 50 indicates a positive outlook for spending

Source: U.S. Census Bureau (Actuals)

US New Housing Starts(1969 – present)

US Non-residential Building Index(2009 – present)

UK Housing Starts(2014 – 2018)

Source: ONS/National House Building Council (NHBC)

50 yr. avg.

Europe ArchitecturalNA Residential

170.1 180.1

188.7 197.7 199.9

2014 2015 2016 2017 2018

6

Performed further review of builder floorplans to evaluate current trends in:

Total square footage

Interior doors per floorplan

For builders we serve, current overall average for interior doors/home is 18

Data illustrates impact to average number of doors/home as growth skews to Entry Level segment

2019 Doors per House Survey

Continued focus on higher AUP product critical to help mitigate lower doors per house

Current Market Trends

Interior Doors per Square Foot1

(1) – 2019 data is based on sample of 75 floor plans from various regions across 5 of Masonite’s top national builders, first presented on Q1 2019 Earnings Call

Interior Doors~2000 sq. ft = 16~2500 sq. ft = 19~3000 sq. ft = 22

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($ in millions) FY B/(W) Q1 B/(W)

Net Sales $1,454.8 1.8% $353.7 (1.7%)

Net sales ex-Fx & Acq 1.3% (3.9%)

Adj. EBITDA* $202.5 1.1% $53.6 6.3%

Adj. EBITDA Margin* 13.9% (10bps) 15.2% 120 bps

20192018

North American Residential

RRR ~55%

New Residential

Construction ~45%

Wholesale ~65%

Retail ~35%

Net Sales by Customer ChannelNet Sales by End Market

► 1 of 2 vertically integrated residential interior door manufacturers in North America

► Established leadership positions^ in interior molded, steel, fiberglass and stile & rail doors

(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations(^) – Defined as #1 or #2 in North America

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(*) – See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations(^) – DW3 was acquired on January 30, 2018

UK ~90%

Other ~10%

► Acquisitions have expanded UK product offering across interior and exterior doors

► Innovative “Go-to-Market” business model with Door-Stop International and DW3^

Europe

Net Sales by End MarketEuropean Net Sales

RRR, ~65%

New Residential,

~30%

Mixed Use, ~5%

($ in millions) FY B/(W) Q1 B/(W)

Net Sales $369.0 26.4% $84.3 (3.2%)

Net sales ex-Fx & Acq (1.1%) 3.9%

Adj. EBITDA* $45.0 33.1% $10.0 0.7%

Adj. EBITDA Margin* 12.2% 60bps 11.9% 50 bps

20192018

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Architectural Transformation2

► Vertically integrated Architectural wood door manufacturer in North America

(*) See safe harbor/non-GAAP financial measures on page 2 for definitions and other information and appendix for non-GAAP reconciliations(^) Defined as #1 or #2 in North America(1) Other consists of stock doors, multifamily and retail(2) Excludes Graham/Maiman acquisition in June 2018

► Established leadership positions^ in interior wood doors, door core and veneers

Office

Education/Govt

Healthcare

Hospitality

Other1

Architectural

Net Sales by End Market

► Comprehensive set of initiatives to integrate business from 2016 to 2021

• Consolidate brands from 8 1

• Harmonize product lines from 43 8

• Increase ability to flex production across plants from 0% 80%

($ in millions) FY B/(W) Q1 B/(W)

Net Sales $323.5 12.1% $85.6 28.3%

Net sales ex-Fx & Acq (2.7%) 8.4%

Adj. EBITDA* $37.7 25.2% $7.6 (0.6%)

Adj. EBITDA Margin* 11.7% 130bps 8.8% (270 bps)

20192018

10

Verdi, NV cut-stock plant startup progressing as planned

Capacity investments at targeted sites to cost effectively supply North America

Announced closure of 2 North America Residential plants and 1 Architectural plant

Leveraging global supplier footprint to achieve lowest landed cost

Reduced headcount in SG&A and Overhead

Targeted divestiture of non-core businesses/product lines in UK

2 divestitures completed Q1 2019

1 additional non-core business targeted for divestiture 2H 2019

Rationalizing SKUs to increase efficiency and reduce complexity for customers

Continue to launch new offerings and manage product portfolio to drive higher AUP

North America Residential vitality index now >11%

Improved mix focus across all regions

Plant Transformation

7 sites completed in 2018; 2 currently underway in 2019

Performance Improvement Team (PIT) events

Training and Standards

2018 had highest annual Continuous Improvement (CI) belt certifications since 2013

Kaizen events up 86% YoY in 2018 and up 14% YoY in Q1 2019

Continued capital investments to support efficiency improvements

Footprint Optimization Portfolio OptimizationMVantage Utilization

Margin Improvement Initiatives

Executing well on our key strategic initiatives and previously announced restructuring

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Cash Flow

Working Capital

Capex

Acquisitions

Shareholder Returns

Cash Flow Priorities

Priorities

► Fund working capital needs

► Invest in organic growth initiatives

► Pursue value-added acquisitions

► Return excess cash to shareholders

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NON-GAAP RECONCILIATIONS

1313

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

1414

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

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

Adjusted EBITDA 53,621$ 9,997$ 7,614$ (5,753)$ 65,479$ Less (plus):Depreciation 9,079 2,382 2,741 4,083 18,285 Amortization 449 3,965 2,093 1,090 7,597 Shared based compensation expense - - - 2,680 2,680 Loss (gain) on disposal of property, plant and equipment 341 2,469 97 6 2,913 Restructuring Costs 1,880 862 604 394 3,740 Asset Impairment 10,625 - - - 10,625 Loss (gain) on disposal of subsidiaries - 4,605 - - 4,605 Interest expense (income), net - - - 11,127 11,127 Other income, net of expense - (139) - (991) (1,130) Income tax expense (benefit) - - - 58 58 Net income (loss) attributable to non-controlling interest 986 - - 204 1,190 Net income (loss) attributable to Masonite 30,261$ (4,147)$ 2,079$ (24,404)$ 3,789$

(in thousands)

North

American

Residential Europe Architectural

Corporate &

Other Consolidated

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 Shared 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 - (57) (22) Income tax expense (benefit) - - - 6,701 6,701 Net income (loss) attributable to non-controlling interest 970 - - (13) 957 Net income (loss) attributable to Masonite 41,070$ 4,353$ 3,297$ (27,894)$ 20,826$

Three Months Ended March 31, 2019

Three Months Ended April 1, 2018