#1Laurel, Mississippi Plant Tour Management Presentation 13 NYSE: DOOR Masonite#2Safe Harbor / Non-GAAP Financial Measure SAFE HARBOR / FORWARD LOOKING STATEMENTS 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 improvements in the housing market and related markets and the effects of our pricing and other strategies. 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, general economic, market and business conditions; levels of residential new construction, residential repair, renovation and remodeling and non-residential building construction activity; competition; our ability to successfully implement our business strategy; 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 and to meet our debt service obligations, including our obligations under our senior notes and our senior secured asset-backed credit 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 by, and the continued success of, certain key customers; our ability to maintain relationships with certain customers; new contractual commitments; our ability to generate the benefits of our restructuring activities; retention of key management personnel; environmental and other government regulations; limitations on operating our business as a result of covenant restrictions under our existing and future indebtedness, including our senior notes and senior secured asset-based credit facility; and other factors publicly disclosed by the company from time to time. NON-GAAP FINANCIAL MEASURE net Adjusted EBITDA is a measure used by management to measure operating performance. It is defined as net income (loss) attributable to Masonite plus depreciation, amortization of intangible assets, restructuring costs, loss (gain) on sale of property, plant and equipment, impairment of property, plant and equipment, registration and listing fees, interest expense, net, other expense (income), net, income tax expense (benefit), loss (income) from discontinued operations, net of tax, net income attributable to non-controlling interest and share based compensation expense. Adjusted EBITDA is not a measure of financial condition or profitability under GAAP, and should not be considered as an alternative to income (loss) or net income (loss) attributable to Masonite determined in accordance with GAAP or (ii) operating cash flow 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. We believe that the inclusion of Adjusted EBITDA in this press release is appropriate to provide additional information to investors about our operating performance. Not all companies use identical calculations, and as a result, this presentation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Moreover, Adjusted EBITDA as presented for financial reporting purposes herein, although similar, is not the same as similar terms in the applicable covenants in our ABL Facility or our senior notes. 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 appendix sets forth a reconciliation of Adjusted EBITDA to net income (loss) attributable to Masonite for the periods indicated. 2#3Today's Agenda ① Company Overview ② Residential Interior Door Facings ③ NA Residential Door Opportunity ④ Key Focus Areas ⑤ Summary ⑥Q&A Masonite®#4Company Overview Masonite is a Global Building Products Company 2013 Sales by Segment Net Sales of $1.7 billion and approximately 32 million doors sold in 2013. An extensive global footprint with 65 manufacturing facilities spread across 11 countries. Serve more than 7,000 customers in over 80 countries. One of only two vertically integrated residential molded door manufacturers and the only vertically integrated commercial door manufacturer in North America. Established leadership positions in all targeted product categories in North America. North America CANADA CHILE North America, 76% Europe, Asia & Latin America, 20% S. Africa, 4% 2013 NA End-Markets S. America Europe IRELAND Non-residential building const., UK 21% FRANCE CZECH REPUBLIC ISRAEL South Africa Southeast Asia UNITED STATES MEXICO Manufacturing MALAYSIA SOUTH AFRICA Headquarters Residential new const., 35% Residential RRR, 44% 4#5Company Overview Masonite has the Broadest Product Offering in NA Residential Interior Residential Exterior Residential Door Facings and Components Non-Residential Interior Non-Residential Exterior Non-Residential Door Facings Masonite JELD- WEN Steve's and Sons Therma- Tru Plastpro Andersen Pella VT Industries Graham Eggers Industries X × x × × x × × x x x x x x х x x × × x x × × × and Components (#) - - Steel & Glass exterior doors are not a strategic focus area for Masonite. (-)- We believe Eggers has veneer production capacity, but no door core. х × x Source: Company Websites, Deutsche Bank. The Only Vertically Integrated Residential AND Commercial Door Manufacturer in NA. 5#6Leadership Position Company Overview Masonite has Established Leadership Positions Interior Residential Doors Exterior Molded Stile & Rail Fiberglass Steel Ledco Lemieux Door-Stop Lifetime Chile India Leadership Position Leadership Position Leadership Position Limited Masonite presence. 2010-2014 acquisitions. Leadership Position Non-Residential Door Components Steel & Glass Interior Wood Door Core Veneers / Facings Baillargeon Marshfield Marshfield Birchwood Algoma Algoma Leadership Position Leadership Position Defined as #1 or #2 in NA (based on internal estimates). 6#7Company Overview Residential Interior Molded Doors - Raw Materials to Slabs Residential Interior Molded Doors Step #1 Step #2 Step #3 Key Inputs Acquired Molded Door Facings Produced Door Slab Assembly D ■ Laurel uses 27 acres of timber/day " Molded doors "nest" well for shipping ■ Masonite has > 1,000 dies (~$75M USD)* ■ Have capacity for 1.5M U.S. starts Manual or fully automated (Denmark) Manual: ~8 hours, automated ~4 min. ☐ 5 facings plants replacement value ~$1B ■ Do not sell facings within key NA market Plans for 3 NA fully automated units (*) Includes interior and exterior molded dies. Today's Tour Showcased Steps #1 & #2 7#8Company Overview Residential Interior Molded Doors Slabs - Path to Market Step #3 Finished Door Slabs Residential Interior Molded Doors Step #4 Additional Value Added Services Pre-Hanging Pre-Finishing Finished Door Slabs Shipped Directly to one or two step Distribution Customers Step #5 Masonite Customers THE HOME DEPOT HUTTIG BUILDING PRODUCTS Canevazive A Retail Customers Masonite LOWE'S ProBuild™ Builders FirstSource Stine HOME & YARD BMC Wholesale Distributors Independent & Dealers Masonite Believes Vertical Integration is a Competitive Advantage 8#9Today's Agenda ① Company Overview ② Residential Interior Door Facings ③ NA Residential Door Opportunity ④ Key Focus Areas ⑤ Summary ⑥Q&A Masonite®#10Residential Interior Door Facings Key Questions What does global interior residential molded door facings capacity look like today? What would it take for a new entrant to come into the market? How many independent door slab assemblers are in North America-and where do they get their facings? 10#11Residential Interior Door Facings Question #1: Global Facings Network Canada There Are A Limited Number of Facilities on the Global Network ND MT MN SD ID WY · NV United States UT CO MO CA OK NM TX Mexico. AL Guatemala Nicarague Greenland Iceland Venezuela Guyana Colombia Suriname AP Ecuador BN AM MA PA PI Brazil TO RO Peru MT BA SE GO Bolivia MG MS ES Paraguay SP RJ Chile PR SC RS Uruguay Argentina Masonite facilities Jeld-Wen facilities. Other Norway Sweden Finland Denmark United Kingdom Belarus Ireland Poland Germany Spain Portugal Russia Ukraine Kazakhstan Austria Mongolia France Romania Italy Uzbekistan wayzstan Kyrgyzstan Greece Turkey Turkmenistan Syria Afghanistan Iraq Iran Pakistan Western Sahara Morocco Algeria Libya Egypt Saudi Arabia Oman Mauritania Mali Niger Sudan Yemen Chad Burkina Faso Guinea Nigeria South Ethiopia Sudan Somalia Kenya Gabon DR Congo Tanzania Angola Zambia -Mozambique Namibia Zimbabwe Madagascar Botswana South Africa China South Korea Japan India Myanmar (Burma) nd Vietnam Philippines Malaysia Indonesia Papua New Guinea NT OLD Australia Masonite & Jeld-Wen Have Approximately 75% of Global Facings Capacity* - (*) Management's estimate NSW ACT 11#12Residential Interior Door Facings Question #1: Global Facings Network Facings Production Capacity by Mill* (in millions of facings) 40.0 35.0 30.0 25.0 20.0 15.0 10.0 5.0 0.0 Laurel, MS Towanda, PA Size & Production Quality* Masonite & Jeld-Wen operate 8 of the 9 largest facing mills in the world: Masonite: ~80 million facings Jeld-Wen: ~75 million facings All others: ~55 million facings Total global industry capacity utilization is currently estimated between 60 to 70%. Masonite and Jeld-Wen are the only two owners of facings production facilities in the western hemisphere. We believe Masonite and Jeld-Wen produce higher quality facings (lower cost of quality). - (*) Management's estimates Ireland Dodson, LA Kostamanou, Romania Klamath Falls, OR Malaysia Sacopan, QC Masonite facilities Jeld-Wen facilities Other Latvia Tever, Turkey Yildiz, Turkey Craigsville, WV Chile Fudun, China Hume/lpswitch, Australia Huibong, China Vanachai, Thailand Tongyuan, China We Believe Masonite & Jeld-Wen Own the Largest Facilities With the Highest Quality Production • 12 22#13Residential Interior Door Facings Question #1: Global Facings Network Industry Capacity Has Decreased in Recent Years Through Closed Facings Facilities 2010 2014 British Columbia Saskatchewan Edmonton ° Vancouver Calgary Ontario Quebec Winnipeg British Columbia Saskatchewan Edmonton Calgary Vancouver Ontario Quebec Winnipeg Was gton North Dakota Montana Ne Bruns Washington North Dakota Montana N Brun Minnesota Minnesota Montreal Montreal 10 0 Maine Maine South Dakota Wisconsin Toronto South Dakota Wisconsin Toronto egon Michigan egon Michigan Idaho, Idaho, Wyoming Work Wyoming lowa Chicago Ham lowa Nebraska Nebraska Illinois. Pennsylvania Chicago Illinois Ohio Nevada Utah United States Colorado Kansas Indiana New York Missouri West Virginia Massa Rhode Isl Connecticut Ohio, Nevada Utah United States Colorado Kansas Indiana Missouri California Los Angeles Kentucky Virginia New Jersey California Tennessee No Work Pennsylvania Wast Virginia Kentucky Virginia North New York Rhode Is Han Mass Connecticut New Jersey Oklahoma Arkansas Tennessee. North Carolina Delaware Maryland Los Angeles Oklahoma Arkansas Delaware Carolina Maryland Arizona New South Arizona New ° Mexico Dallas San Diego Phoenix Missi pi Alabama South Carolina 0 District of Mexico Dallas Missi pi Carolina District of Columbia San Diego Phoenix Alabama Columbia Texas Georgia Texas Georgia Louisiana Louisiana San San ° 0 Antonio Houston Antonio Houston Florida Florida Monterrey Monterrey Mexico Havana Mexico Havana Masonite facilities JW facilities Masonite facilities JW facilities Craft Master (CMI) facility Since 2010, Three Facing Mills Have Closed or Been Converted and One Has Opened Closures: White Swan, Washington (~12mm) & Marion, North Carolina (~13mm). Conversions: Dubuque, Iowa (~7mm). Openings: Dodson, Louisiana ~18mm. 13#14Residential Interior Door Facings Key Questions What does global interior residential molded door facings capacity look like today? What would it take for a new entrant to come into the market? How many independent door slab assemblers are in North America-and where do they get their facings? 14#15Residential Interior Door Facings Question #2: Market Entry ~$100 - $150 million per line Facing Plant ~$9 $10 million per plant Pre-Finishing Pre-Hanging Full Product Line & Distribution Die Plates ~$75 million investment* Slab Assembly ~$20 - $25 million per plant Each Step of Production Poses Unique Challenges Note: $ are approximate management estimates. (*) - Masonite has >1,000 dies with approximate value of $75 million. Includes interior and exterior molded dies. 15#16Residential Interior Door Facings Question #2: Market Entry - Facings Plant Facings Production Facilities are Multiyear Construction Projects A timeline of ~4 years to ramp to meaningful production* 0 1 2 3 4 Production Hurdles Wood species perform differently Access to wood basket Requires significant testing High initial cost of quality • • Multiple environmental concerns . Bio-scrubbers MACT compliance Production flexibility • # of press openings Change over times Cycle time Site Selection, Planning & Permitting ~12 months (years) Construction ~24 months Startup, Qualification ~12 months astey Fran (*) Management's estimates - Laurel consumes the equivalent of ~10,000 trucks / year of fiber or ~27 acres of timber daily. 16#17Residential Interior Door Facings Question #2: Market Entry - Die Plates Vertical Integration in the Design and Fabrication of Production Tooling Provides Several Competitive Advantages: - Cost savings - - - Prioritization of die schedule Protection of confidentiality Rapid response to changing market needs Quality control 17#18Residential Interior Door Facings Question #2: Market Entry - Interior Slab Assembly Assembly Facilities Are Strategically Located to Service a Large Geographic Area Vancouver Seattle Washington Portland о Calgary North Dakota Montana Oregon daho Wyoming South Dakota Winnipeg Ontario Quebec New Brunswick Ottawa Montreal Maine Minnesota Minneapolis Wisconsin Michigan ronto Milwaukee Chicago Detroit New York Iowa Nebraska Vermont Now Hampshire Massachusetts Connecticut Rhode Island Ohio о Nevada Denver United States Illinois Indiana 0 Pittsburgh Kansas City dianapolis Columbus Pennsylvania Philadelphia Maryland New York O New Jersey Utah Sacramento Colorado Kansas West Virginia Delaware Missouri St. Louis District of Kentucky Vinia California Las Vegas Columbia San Francisco Tennessee North Carolina Atlanta Charlotte South о Mississippi olina Alabama Georgia Albuquerque Oklahoma Arkansas Los Angeles Arizona New Mexico о San Diego Phoenix Fort Worth Dallas Ciudad о Juarez Tucson Texas Baja California Sonora Austino Houston Louisiana Chihuahua San Antonio Coahuila de Zaragoza Nuevo León Monterrey Baja California Sur Sinaloa Durango Mexico Tamaulipas Jacksonville Orlando Tampa Florida Miami The Bahamas 10 Assembly Plants x $20 Million Per Plant = $200 Million Investment* (*) Our facility in Monterrey, Mexico has interior assembly, exterior assembly and dorFAB capabilities that primarily services the Mexican market. Nova Scotia Bermuda 18#19Residential Interior Door Facings Question #2: Market Entry - Pre-Finishing & Pre-Hanging Pre-Finishing & Pre-Hanging Sites - 2009 Pre-Finishing & Pre-Hanging Sites - 2014 Pre-Finishing & Pre-Hanging sites Pre-Hanging sites only Pre-Finishing ($ in millions) 40 35 30 25 45 20 15 10 5 Pre-Hanging Pre-Finishing Sales 0 2011 2012 2013 19#20Exterior Doors Residential Interior Door Facings Question #2: Market Entry – Full Product Line Interior Doors ~$22 Flush Primed Molded Flush Veneer West End Safe 'N Sound Palazzo Bolection MDF Wood Stile & Rail ~$125 Utility Steel ~$500+ French Doors 11 designs 3 species 3 designs 2 textures All flush and molded 3 designs Engineered Unlimited designs core Unlimited designs 18 species 63 glass options 18 species ~$1,000+ HD Steel Belleville Fiberglass Barrington Fiberglass AvantGuard Torrefied Wood 3 door designs 18 door designs 18 door designs 15 door designs 3 wood grains plus smooth 2 wood grains 2 wood species 9 door designs 4 species Unlimited designs Masonite Provides the Broadest Product Offering in the Industry Note: Prices reflect estimated retail price in U.S. market. 20 20#21Residential Interior Door Facings Question #2: Market Entry - Distribution Retail Decor Wholesale Distributors HUTTIG BUILDING PRODUCTS Constructive Solutions Since 18es Masonite Independent & Pro Dealers ProBuild™ Builders FirstSource Stine HOME & YARD BMC Builders Contractors & Architects Remodelers Masonite Believes Its Distribution Network is a Competitive Advantage 21 21#22Residential Interior Door Facings Key Questions What does global interior residential molded door facings capacity look like today? What would it take for a new entrant to come into the market? How many independent door slab assemblers are in North America-and where do they get their facings? 22#23Residential Interior Door Facings Question #3: Independent NA Door Slab Assemblers Only Masonite & Jeld-Wen Service the Entire North American Market Masonite® the beautiful door™ JELD WEN WINDOWS & DOORS STEVES HALEY ABS AMERICAN BUILDING SUPPLY, INC. Lynden Door Competing Door Assembly Companies Are Smaller in Size and Regionally Focused (*) - We estimate Steve's, Haley Bros., ABS, and Lynden Door represent -15% of the door market. 23#24Residential Interior Door Facings Question #3: Independent NA Door Slab Assemblers Estimated Scale of Door Slab Assembly and Sales Companies (Interior Doors)* Vertically Integrated Masonite JELD WEN the beautiful door™ WINDOWS & DOORS Regional Assemblers STEVES HALEY We believe Masonite & Jeld-Wen's interior residential door business is approximately the same size A ABS-AMERICAN BUILDING SUPPLY, INC. L Lynden Door Market Exits (Since 2004) C&S Door (2005) Florida Made Door (2004) Illinois Flush Door (2010) Ledco Door (2010) Lifetime Door (2010) CMI (2012) Masonite & Jeld-Wen Are the Only Two Vertically Integrated Players in North America (*) Masonite estimates 24 24#25Today's Agenda ⑪ Company Overview ② Residential Interior Door Facings ③ NA Residential Door Opportunity ④ Key Focus Areas ⑤ Summary ⑥Q&A Masonite®#26North American Residential Door Opportunity Market Growth – U.S. Housing Starts - (in millions) 2,500 U.S. Housing Starts (1959-Present) 2,000 1,500 1,000 500 0 1959 1962 Source: U.S. Census Bureau 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 50-year average of housing starts = 1.5mm 7.0 6.0 5.0 4.0 3.0 2.0 1.0 Housing as a % of U.S. GDP 1975 1980 Source: NAHB 1985 1990 1995 2000 2005 2012 2013 4.7% average since 1975 Housing Activity Remains Far Below Historical Averages 26#27North American Residential Door Opportunity Market Growth - Masonite is Well Positioned Today Interior Residential Doors Exterior Molded/Flush Stile & Rail Fiberglass Steel Exterior Stile & Rail Flush Interior Fiberglass Wood Entry Frames Steel Note: Charts are based on door volume Molded Masonite Sold ~26 Million Doors in North America During 2013 - 95% Residential* (*) - Masonite sold ~32 million doors globally during 2013 vs. ~50 million doors during 2006. 27 222#28North American Residential Door Opportunity Mix - Consumer Trade-Up is Expected to Accelerate Steel vs. Fiberglass Flush vs. Molded Hollow Core vs. Solid Core Stile & Rail Steel was ~65% of 2013 NA Flush was ~20% of 2013 NA Hollow Core was Residential Exterior Sales Residential Interior Sales ~90% of 2013 NA Residential Interior Sales === Stile & Rail was ~10% of 2013 NA Residential Interior Sales As Markets Recover, Trade-Up Should Increase 28#29North American Residential Door Opportunity Pricing – Industry is not Capturing Sufficient Value 2013 Avg Global Door Selling Price: ~$55 2011 5.0% Distribution: ~9% 3.0% SG&A: ~10% 1.0% Direct Labor: ~12% -1.0% -3.0% Overhead: ~15% -5.0% Masonite ROA 2012 2013 Masonite ROE 2011 2012 2013 5.0% 3.0% Materials: -48% 1.0% -1.0% -3.0% Adj. EBITDA: ~6% ~$3 per door -5.0% 2013: Net Income = ($0.37)/share, Return on Assets = (0.5%), Return on Equity = (1.0%)* Note: All numbers shown are Masonite's global consolidated figures. See appendix for non-GAAP reconciliations. (*) - Net income from continuing operations. 29 29#30North American Residential Door Opportunity Pricing – "First Steps" Have Been Successfully Taken 2013 NA Price Increases Affected a Limited Percentage of Masonite's Total Global Business^ 25% 15% 2014 NA Price Increases Have Been Broader Based^ Q1'13 Q4'13 Q1'14 55% U.S. Wholesale Mid Single Digit Increase on Certain Interior & Exterior Doors, Door Lites & Components U.S. Wholesale Mid Single Digit Increase on Molded & Flush Interior Doors North America Retail & U.S. Wholesale Mid-High Single Digit* Increase Across Interior & Exterior Doors Masonite Has Taken Three North American Price Increases Over Five Quarters (^) - Percentages of net sales are approximate and based on management estimates of net sales. (*) The 2014 impact of North American retail pricing is expected to be up low-mid single digits once prior year price concessions are taken into account. 30#31North American Residential Door Opportunity Pricing – "First Steps" Have Been Successfully Taken - NA Average Unit Price is Increasing 8.0% (AUP Growth %, year over year) 6.0% 4.0% 2.0% 0.0% -2.0% -4.0% -6.0% Q3'13 Q2'13 Q1'13 Q4'12 Q3'12 Q2'12 Q1'12 Q4'11 Q3'11 Q2'11 Q1'11 Q4'13 Q1'14 Impact of Recent Pricing* $15 $10 $5 $- Q2 '14 Q3 '14 Q4 '14 Q1 '15 ~$10 Million of Pricing Expected Q2'14 – Q1'15 ~$40 Plus ~$1.36 Million ~29.3 in of Annual Price Million Adj. Shares EBITDA per share NA AUP Has Increased 4 Consecutive Quarters Pro-Forma, Pricing adds ~$1.36/share Adj. EBITDA Masonite Is Committed to Capturing Fair Value for the Products & Services We Provide (*) - Management believes the majority, but not all, of this incremental pricing will be accretive. 31#3240% 30% 20% 10% 0% 90 7.5% 40% 30% 20% 10% 0% -10% -20% 2.2% (9.7%) (0.1%) 84.4% North American Residential Door Opportunity Volume, Mix & Pricing = Enhanced Returns ROE Peer Industry #1 Reported 2013 EBITDA 5.9% CBPX ■ 2011 4.5% ■ 2012 Wall Board ■ 2013 EXP ROE Peer Industry #2 12.5% ос ■ 2011 ■ 2012 ■ 2013 CSL 15.8% 14.0% 8.5% 15.1% In 2013, Masonite reported Adjusted EBITDA of $105.9 million Pro Forma 2013 EBITDA Roofing Masonite is Committed to Capturing Fair Value for the Products & Services We Provide Note: See appendix for Non-GAAP reconciliations. Numbers are for companies' consolidated financial results. Eagle Materials fiscal year end is March 31, 2014. (1) Net income represents tax-effected adjusted EBIT. EBIT adjustments include segment related restructuring, impairment and other one-time expenses. (2) Owens Corning's total company ROE is used as a proxy for their roofing business. Applying the peer industry #1 and #2 median ROE of 14.5% to Masonite's financial performance would imply an Adj. EBITDA of $299.4 million in 2013. This translates to an Adj. EBITDA margin of 17.3% in 2013. 32#33Today's Agenda ⑪ Company Overview ② Residential Interior Door Facings ③ NA Residential Door Opportunity 4 Key Focus Areas ⑤ Summary ⑥ Q&A Masonite®#34Key Focus Areas Capabilities Designed to Create Shareholder Value Automation Product Line Leadership Electronic Enablement Sales and Marketing Excellence Strategic Tuck-In Acquisitions Goal: Grow Share & Expand Margins Beyond Macro Economic Recovery 34#35Key Focus Areas Automation - Automated Door Slab Assembly . Automating the Assembly Process Improved Safety • Increased Productivity • Higher Quality • Better Service Facings Feeding Station Biele Frame Assembly Frame Assembly Stations 35#36Key Focus Areas - Automation – New Commercial Door Machining Center Current Process 12 outdated stations Latest CNC* technology Batch Processing Automated Robotic Solution 43 FTEs 27 FTEs Future Process ■ Reduces staffing by ~1/3rd ■Improves quality and consistency. ☐ Single piece flow. ■ One automated CNC* machine with single piece flow (5 machines vs. 12). ■ From 1,200 to 1,750 doors per day. Multiple Opportunities Exist Across Masonite to Accelerate Automation (*) Computer Numerical Control. 36#37Key Focus Areas Product Line Leadership - Good/Better/Best GOOD BETTER C BETTER BEST 37#38Key Focus Areas - Electronic Enablement – Max Express Configurator $2,500,000 $2,000,000 Masonite $1,500,000 Find Your Door $1,000,000 with Max. $500,000 $108,891 Max Update - E-commerce Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-124 Oct-12 Nov 12 Quoting Takes off with launch of ... Max 2.0 April YOY Growth 295% $430,181 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May 13 Jun-13 Jul-13 Aug-13 DESIGN YOUR DOOR > Dealer Associate Training On the Rise 400 310 300 232 237 253 175 200 126 123 73 100 0 Q2 Q3 Q4 Q1 Q2 Q3 '12 112 112 '13 '13 113 Apr 2014: 16% Q4 Q1 13 14 Quote to Order Conversion: Dealers are slowly but increasingly placing orders thru Max Apr 2012: 0% Apr 2013: 11% NEXT UP... MyMax Dealer version of Max on their website Distributor ERP Integration Masonite Max Express Configurator Quote Velocity is Beginning to Accelerate Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 38 Feb-14 Mar-14 April YOY Growth 437% $2,163,514 Apr-14#39Key Focus Areas Sales & Marketing Excellence - Consumer Education Consumer Friendly Packaging Masonite Masonite the the bankdoor Masonite Masonite In-Store Merchandising INTERIOR PREHUNG SPANISH GEES HERE Rykerlackert 6 Panel Textured Spanish goes here 2 PREPAINTED DOOR NO WORK NECESSARY SPANSHOES HOLLOW CONSTRUCTION SPANISH GOE VAN TO INTERIOR PREHUNG SPLISH GESPERE WATCH VIDEO H Oon wit www.me.com Interior Fiberglass Spanish Goes Here feboutful dor Steel Spanish Goes Here 1 Lite Clear insured Class Fiberglass Unithred wwwSpani Sporah Cool Hag SpSport Coat Ha Sy 1 Lite Miniblind Clear Insulated Glass Maid Rberglas Fin Untnished Spanish Goas He Spanish Co 8 Z REINFORCED LOCK AREA FOR ADDED SECURITY ÁREA DE CERCA RECETAM PARA POSEBNA CENT&ROT RESISTANT DOOR PANEL PANELES PUERTA RESISTENTES A LAS ABOLIADAS Y A DISCOMPO INSULATES SX BETTER THAN REAL WOOD AISLACINCO VECES WEIGQUELA 5X A UNITED LIFETIME Lifetime WARRANTY GASAT UNITADA DE POR VELA *Based on isleting ch polyde focore compared to wood H REINFORCED LOCK AREA FOR ADDED SECURITY AREA DE CERRADURA REFORMA PARA MAYOR SEGUIBEAD STRONG&DURABLE DOOR PANEL INTERNAL MINIBLINDS CONTROL LIGHT AND PRIVACY MINIPERSIANAS INTERMAS PABA CONTROLAR LALEZ TUAPEWA LIMITED LIFETIME Lifetime WARRANTY GARANTA LIMIDA BE PERVEDA Unfinished, Ready to Paint Unfinished, Ready to Paint GET IT INSTALLED Ankle for kid www.homedepot.com/kbon Spanish Goas Hara m GET IT Akon Ausste for www.havedel.com/instacom MASONITE'S Interactive Glass Display TOUCH HERE TO BEGIN START Glass Shape Availability Masonite Masonite ALSTON Choose a Glass Option TOUCH TO VIEW PAL SCREEN ALSTON Exterior Traditional Displays Interactive Displays Consumer Education Helps Drive Customer Satisfaction and Facilitates Trade-Up 39#40Key Focus Areas Strategic Tuck-in Acquisitions - Door-Stop International door-stop INTERNATIONAL Acquisition Details ~$50 mm net purchase price* • Based in Nottingham, United Kingdom . Specializes in fiberglass exterior doors. • Leading e-commerce platform with 3-day delivery High average unit prices, double-digit margins and strong EBITDA to cash conversion United Kingdom housing starts accelerating (*) - - Net of cash acquired. Pre Acquisition $7.6M TTM Adjusted EBITDA ~6.5x Pre Synergy Adjusted EBITDA UK Housing Market is Accelerating 140 130 120 110 100 2011 (in 000s) 2012 2013 2014 Source: UK Office of National Statistics (Autumn 2013) 40 40#41Today's Agenda ① Company Overview ② Residential Interior Door Facings ③ NA Residential Door Opportunity 4 Key Focus Areas ⑤ Summary ⑥ Q&A Masonite®#42Summary Positioning the Company for a Sustained Recovery Advantageous Market Position ✓ One of only two vertically integrated residential molded door manufactures in North America ✓ Only vertically integrated commercial door manufacturer in North America ✓ Established leadership positions in all targeted product categories in our largest market (North America) A Business Footprint Not Easy to Replicate Insured replacement value of residential interior molded door facings facilities in excess of $1 billion Strategic footprint of assembly facilities to service large geographic area Market Opportunity for Continued Growth U.S. new housing expected to experience double digit growth in 2014+ (NAHB) Repair, Renovation and Remodeling expected to increase mid-single digits (HIRI) ✓ Commercial door activity expected to increase in 2015+ (McGraw Hill) ✓ Long-term, demographically driven demand characteristics remain strong Key Focus Areas to Accelerate Growth Automation ✓ Product Line Leadership ✓ Electronic Enablement Sales & Marketing Excellence Strategic Tuck-in Acquisitions Pantry 22 42#43Summary Creating a Business Not Easy to Replicate Vertical Integration Pre-Finishing Pre-Hanging Die Fabrication Facings Production Slab Assembly Masonite's replacement insurance value on our facing production facilities alone is in excess of $1.0 billion. itryConfig Detail.php? Pcx Masonite E-Commerce masonite.com Home Back to Gallery About Us Contact Us Hover to zoom Views Product Info Bellevile Oak Textured 2 Panel Door 3/4 Lite with Naples Glass $1,370.00 Prist Share Choose Glass (31 Options) Full Glass | Close-up | Privacy Rating Alston Cuzco Georgian Georgian Iron Springs Kardella Chor Panama Pear Glass Quattro Rockland Sienna Wood Naples Glass with Antique Black Caming ▸ Popular Choice Done New Products Automation 43 43#44Q&A Masonite®#45Appendix Masonite®#46Appendix Reconciliation to GAAP Measures In thousands, except ratios Net income (loss) Total assets Return on assets Net income (loss) Total equity Return on equity 2013 2012 $ (8,362) $ Masonite International Corporation 2011 (21,802) $ (4,152) 1,591,145 1,645,948 1,528,056 -0.5% -1.3% -0.3% (8,362) 825,562 -1.0% $ (21,802) 837,815 -2.6% $ (4,152) 848,483 -0.5% Total equity $ 825,562 Median peer return on equity 14.5% Pro forma net income based on implied return on equity 120,086 Pro forma income tax expense (at 26.4%) 43,074 Depreciation 62,080 Amortization of intangible assets 17,058 Share based compensation expense 7,752 Loss (gain) on disposal of property, plant and equipment (1,775) Impairment of property, plant and equipment 1,904 Registration and listing fees 2,421 Restructuring costs 10,630 Interest expense (income), net 33,230 Other expense (income), net 2,316 Loss (income) from discontinued operations, net of tax Pro forma Adjusted EBITDA based on implied return on equity $ 598 299,374 46#47Masonite