Earnings Presentation May 9, 2013 Safe Harbor/Forward Looking - PowerPoint PPT Presentation

First Quarter Earnings Presentation May 9, 2013

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 that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Masonite International Company (the “Company”), 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. When used in this Investor Presentation, such statements may contain 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 information in this Investor Presentation may include, without limitation, statements regarding intentions, goals, targets, preliminary results, performance, goals, achievements, operations, acquisitions and integration of acquired businesses, plans and objectives, strategies, business and economic conditions, and projected costs. These statements reflect the Company’s current expectations regarding future events and operating performance are based on information currently available to the Company and speak only as of the date of this Presentation. All forward-looking statements in this Investor Presentation are qualified by these cautionary statements. Forward-looking statements involve significant risks and uncertainties, 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. Forward-looking information is based on various material factors or assumptions, which are based on information currently available to the Company. Material factors or assumptions that were applied in drawing a conclusion or making a target, objectives or goal set out in the following forward-looking information are as set out within this Investor Presentation. Readers are cautioned that the preceding and enclosed list of material factors or assumptions is not exhaustive. Although the forward-looking statements contained in this Investor Presentation are based upon what the Company believes are reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this Presentation, and should not be relied upon as presenting the Company’s views on any date subsequent to such date. The Company assumes no obligation to update or revise these forward-looking statements to reflect new information, events, and circumstances or otherwise, except in such circumstances as may be required by applicable law. For those who listen to the rebroadcast of this presentation, we remind you that the remarks made herein are as of today, and have not been updated subsequent to the initial earnings call. This investor Presentation does not constitute an offer of securities or solicitation of an offer to purchase securities. 2

Non-GAAP Financial Measure 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, interest expense, net, other expense (income), net, income tax (benefit) expense, 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 (i) net 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 prospectus is appropriate to provide additional information to investors about our operating performance. Because not all companies use identical calculations, this presentation of Adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Moreover, Adjusted EBITDA as presented for the 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 charge, 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 net income (loss) to Adjusted EBITDA for the periods indicated. 3

1. Market Update 2. Financial Results 3. Summary / Q&A

Market Update: Existing Home Sales Average Sales Price Inventory Months of Supply (in thousands) (in millions) 4 $240 10 9 8 3 $230 7 6 2 5 $220 4 3 1 $210 2 1 0 - $200 2010 2011 2012 Mar-13 2010 2011 2012 Mar-13 2010 2011 2012 Mar-13 Up ~10% vs. 2011 Down 1.1MM vs. 2010 Half 2010 Levels Source: National Association of REALTORS Higher average selling prices are driving a slight increase in existing homes available for sale, while strong demand has resulted in a sharp drop in months supply of existing homes. 5

Market Update: New Home Sales New Home Sales Inventory Months of Supply (in thousands) (in thousands) 200 500 10 180 9 160 8 400 140 7 120 6 300 100 5 80 4 200 60 3 40 2 100 20 1 0 0 0 2010 2011 2012 Mar-13 2010 2011 2012 Mar-13 2010 2011 2012 Mar-13 Up 38% vs. 2010 Down 35K vs. 2010 Half 2010 Levels Source: U.S. Census Bureau The inventory level of new homes is also very low with less than 160,000 units available (slightly more than four months of supply), leaving builders hustling to catch-up with demand. 6

Market Update: U.S. New Single Family Housing Starts Show Strength U.S. New Housing Starts - Single Family 700 (in thousands) 650 619 617 616 590 589 600 570 538 531 513 511 506 504 481 500 470 400 300 200 100 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Q1’12 Avg. = 487 Q2’12 Avg. = 516 Q3’12 Avg. = 545 Q4’12 Avg. = 592 Q1’13 Avg. = 628 +29% vs. YA Source: U.S. Census Bureau 7

Market Update: U.S. New Multi-Family Housing Starts Have Accelerated U.S. New Housing Starts - Multi Family 450 (in thousands) 417 400 365 350 318 300 286 300 271 253 248 243 250 225 223 222 212 209 193 200 150 100 50 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Q1’12 Avg. = 227 Q2’12 Avg. = 220 Q3’12 Avg. = 229 Q4’12 Avg. = 312 Q1’13 Avg. = 340 +55% vs. YA Source: U.S. Census Bureau 8