Masco Corporation
Third Quarter 2017 Earnings Presentation
October 24, 2017

Safe Harbor Statement
This presentation contains statements that reflect our views about our future performance and constitute “forward-
looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such as “believe,” “anticipate,” “appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “expect,”
“assume,” “seek,” “forecast,” and similar references to future periods. Our views about future performance involve risks
and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results
discussed in our forward-looking statements. We caution you against relying on any of these forward-looking
statements.
Our future performance may be affected by the levels of home improvement activity and new home construction, our
ability to maintain our strong brands and to develop and introduce new and improved products, our ability to maintain
our competitive position in our industries, our reliance on key customers, our ability to achieve the anticipated benefits of
our strategic initiatives, our ability to improve our under-performing U.S. window business, the cost and availability of
raw materials, our dependence on third party suppliers, and risks associated with international operations and global
strategies. These and other factors are discussed in detail in Item 1A, “Risk Factors” in our most recent Annual Report
on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and
Exchange Commission. The forward-looking statements in this presentation speak only as of the date of this
presentation. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not
possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-
looking statements as a result of new information, future events or otherwise.
2

Masco Q3 2017 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
3

Q 3 2 0 1 7 I N R E V I E W
Continuing Progress on Strategic Initiatives
• Top line growth driven by Plumbing and Decorative
Architectural segments
• Margin expansion resulting from Windows turnaround
• Repurchased 4 million shares for $178 million
• Earnings per share target range updated to $1.93 to $1.97
from $1.93 to $2.00 per common share which reflects the
impact of the severe hurricanes
Driving
Shareholder
Value
4

Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
Masco Q3 2017 Results
5

($ in Millions)
Third Quarter
2017
Revenue
Y-O-Y Change
$1,936
3%
Operating Profit*
Y-O-Y Change
$296
$21
Operating Margin*
Y-O-Y Change
15.3%
60 bps
Adjusted EPS*
Y-O-Y Change
$0.50
22%
24th Consecutive Quarter of Sales and Operating Profit Growth
*See Appendix for GAAP reconciliation.
Quarter Highlights
• Total company sales increased 2% excluding the effects of foreign currency translation
• In local currency, North American sales increased 2% and international sales increased 4%
• FX favorably impacted sales by approximately $15 million
• Estimated Q3 2017 revenue impact due to hurricanes of approximately $15 million;
approximately $5 million in Q4 2017
6

P L U M B I N G P R O D U C T S
Solid North American and International Top Line Growth
7
($ in Millions)
Third Quarter
2017
Revenue
Y-O-Y Change
$951
6%
Operating Profit*
Y-O-Y Change
$176
($3)
Operating Margin*
Y-O-Y Change
18.5%
(140) bps
* Excludes business rationalization charges for the third quarter 2017 and 2016 of $1 million and $5 million, respectively.
Quarter Highlights
• Total segment sales increased by 4% excluding the effects of foreign currency translation
• In local currency, North American sales increased 4% and international sales increased 6%
• FX favorably impacted sales by approximately $13 million
• Margins impacted by increases in strategic growth initiatives and other variable expenses
totaling approximately $10 million

D E C O R AT I V E A R C H I T E C T U R A L P R O D U C T S
Pro Initiative Continues to Fuel Growth
8
($ in Millions)
Third Quarter
2017
Revenue
Y-O-Y Change
$553
3%
Operating Profit
Y-O-Y Change
$104
($7)
Operating Margin
Y-O-Y Change
18.8%
(190) bps
Quarter Highlights
• Behr’s pro initiative achieved double digit growth
• Builders’ hardware benefited from shower door program expansion and growth in E-commerce
• Operating profit impacted by unfavorable price to commodity relationship
• New retail cabinetry hardware program was not fully set in Q3 2017 as planned; expect
approximately $8 million of reset cost in Q4 2017

C A B I N E T R Y P R O D U C T S
KraftMaid® Retail and Dealer Business Grows Double Digits
9
($ in Millions)
Third Quarter
2017
Revenue
Y-O-Y Change
$229
(4%)
Operating Profit*
Y-O-Y Change
$19
($1)
Operating Margin*
Y-O-Y Change
8.3%
(10) bps
* Excludes business rationalization charges for the third quarter 2016 of $1 million.
Quarter Highlights
• Repair and remodel growth more than offset by higher than anticipated declines in United
States and UK new home construction
• Margin negatively impacted by planned costs of approximately $6 million related to the
impact of Chinese plywood duties and tariffs and new product launches

W I N D O W S A N D O T H E R S P E C I A LT Y P R O D U C T S
North American Windows Turnaround Delivers Strong Results
10
($ in Millions)
Third Quarter
2017
Revenue
Y-O-Y Change
$203
0%
Operating Profit
Y-O-Y Change
$23
$33
Operating Margin
Y-O-Y Change
11.3%
1620 bps
Quarter Highlights
• North American windows drove strong 12% growth
• Segment sales increased 9% excluding the divestiture of Arrow Fastener
Arrow Fastener
Divestiture Impact
(in millions)
Third Quarter
2016
Fourth Quarter
2016
Sales $17 $18
Operating Profit $3 $5

Strong Balance Sheet
Liquidity as of 9/30/2017
Cash and cash investments $1.1B
Short-term bank deposits $0.1B
Total $1.2B
Disciplined Capital Allocation
• Repurchased approximately 4 million shares in Q3 for $178 million
11

Masco Q3 2017 Results
12
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A

Q&A

Appendix

Appendix – Profit Reconciliations – Third Quarter
15
($ in Millions) Q3 2017 Q3 2016
Net sales $ 1,936 $ 1,877
Gross profit, as reported $ 650 $ 614
Rationalization charges 1 4
Gross profit, as adjusted $ 651 $ 618
Gross margin, as reported 33.6% 32.7%
Gross margin, as adjusted 33.6% 32.9%
Selling, general and administrative expenses, as reported $ 355 $ 345
Rationalization charges - 2
Selling, general and administrative expenses, as adjusted $ 355 $ 343
Selling, general and administrative expenses as percent of net sales, as reported 18.3% 18.4%
Selling, general and administrative expenses as percent of net sales, as adjusted 18.3% 18.3%
Operating profit, as reported $ 295 $ 269
Rationalization charges 1 6
Operating profit, as adjusted $ 296 $ 275
Operating margin, as reported 15.2% 14.3%
Operating margin, as adjusted 15.3% 14.7%

Appendix – EPS Reconciliation – Third Quarter
16
(in Millions, Except per Common Share Data) Q3 2017 Q3 2016
Income before income taxes, as reported $ 256 $ 227
Rationalization charges 1 6
(Gain) on sale of business (2) -
(Gains) from private equity funds, net - (1)
Impairment of private equity funds 2 -
Income before income taxes, as adjusted $ 257 $ 232
Tax at 34% rate (36% for 2016) (87) (84)
Less: Net income attributable to noncontrolling interest 12 12
Net income, as adjusted $ 158 $ 136
Net income per common share, as adjusted $ 0.50 $ 0.41
Average diluted common shares outstanding 316 329

Appendix – EPS Reconciliation – Full Year Outlook
17
Low End High End
Net income per common share 1.80$ 1.84$
Loss on extinguishment of debt 0.22 0.22
(Gain) on sale of business (0.11) (0.11)
Allocation to participating securities per share (1) 0.02 0.02
Net income per common share, as adjusted 1.93$ 1.97$
Twelve Months Ended
December 31, 2017
(1) Represents the impact of distributed dividends and undistributed earnings to unvested restricted stock awards in
accordance with the two-class method of calculating earnings per share.

($ in Millions) 2017 Estimate 2016 Actual
Rationalization Charges ~ $5 $22
Tax Rate1 ~ 34% 36%
Quarterly Interest Expense ~ $41 $229
General Corp. Expense ~ $105 $109
Capital Expenditures ~ $180 $180
Depreciation & Amortization ~ $130 $134
Foreign Currency Translation Impact to Sales2 ~ $10 ($68)
Shares Repurchased3 $400-500 $459
2017 Guidance Estimates
18
1. Reduction in tax rate from prior guidance primarily due to the adoption of ASU 2016-09 related to stock-based compensation.
2. Based on rates as of September 30, 2017.
3. 2017 and 2016 share repurchases include approximately 819,000 and 1.1 million shares that were repurchased to offset grants o f long-term stock awards.

2016 Segment Mix*
R&R = % of sales to repair and remodel channels
NC = % of sales to new construction channels
NA = % of sales within North America
Int’l = % of sales outside North America
* Based on Company estimates
Business Segment
Plumbing
Products
Decorative
Architectural
Products
$3.5B
$2.1B
Revenue 2016 % of Total
48%
28%
$ 7.4B 100%Total Company
Windows and Other
Specialty Products
$0.8B 11%
R&R% vs. NC NA% vs. Int’l
82% 63%
99% 100%
71% 78%
83% 79%
Cabinetry Products $1.0B 13% 61% 94%
19

2016 International Revenue Split*
*Based on Company estimates
International Sales Accounted for ~21%
of Total 2016 Masco Sales
27%
5%
8%
28%
6%
16%
10%
20
United
Kingdom
Northern
Europe
Other
Emerging
Markets
Eastern
Europe
Southern
Europe
Central
Europe