Fourth Quarter and Full Year
2016 Earnings Presentation
February 9, 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 press release speak only as of the date of this press
release. 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 Q4 and Full Year 2016 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
3

2 0 1 6 I N R E V I E W
Continued Execution of Strategy Drives Results
• Gained share with our strong brands
• Invested in new products and programs
• Drove top and bottom line growth
• Positioned Masco for further growth
• Expanded profit margin
• Strengthened balance sheet
• Returned over $585 million to shareholders
4
Driving
Shareholder
Value

Masco Q4 and Full Year 2016 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
5

21st Consecutive Quarter of Sales
and Operating Profit Growth
6
*See Appendix for GAAP reconciliation.
Quarter Highlights
• Total company sales increased 4% excluding the effects of foreign currency translation
• North American sales increased 3%; international sales increased 8% in local currency
• Operating profit impacted by increased insurance costs of approximately $10 million
(approximately $.02 per share)
($ in Millions)
Fourth Quarter
2016
Full-Year
2016
Revenue
Y-O-Y Change
$1,759
3%
$7,357
3%
Operating Profit*
Y-O-Y Change
$221
$2
$1,075
$148
Operating Margin*
Y-O-Y Change
12.6%
(20) bps
14.6%
160 bps
Adjusted EPS*
Y-O-Y Change
$0.33
14%
$1.51
27%

P L U M B I N G P R O D U C T S
7
Delivers Profitable Growth and Margin Expansion
Quarter Highlights
• Sales increased by 7% excluding the effects of foreign currency translation driven by
record performances at Delta, Hansgrohe and Watkins
• FX negatively impacted sales by approximately $14 million
• Operating profit impacted by higher insurance costs of approximately $5 million and
strategic growth investments of approximately $10 million
*Excludes business rationalization charges for the fourth quarter and the full year 2016 of $2 million and $13 million,
respectively, and for the fourth quarter and the full year 2015 of $7 million and $9 million, respectively.
($ in Millions)
Fourth Quarter
2016
Full-Year
2016
Revenue
Y-O-Y Change
$891
5%
$3,526
6%
Operating Profit*
Y-O-Y Change
$153
$20
$655
$134
Operating Margin*
Y-O-Y Change
17.2%
150 bps
18.6%
300 bps

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
8
Pro Initiative and New Programs Drive Growth
Quarter Highlights
• Strong demand for Behr Pro® and DIY products
• Builders’ hardware benefited from shower door program expansion
• Performance impacted by planned increases in strategic growth investments
and promotional allowances, and unfavorable price to commodity, totaling
approximately $20 million
($ in Millions)
Fourth Quarter
2016
Full-Year
2016
Revenue
Y-O-Y Change
$443
5%
$2,092
4%
Operating Profit
Y-O-Y Change
$75
($10)
$430
$27
Operating Margin
Y-O-Y Change
16.9%
(330) bps
20.6%
60 bps

C A B I N E T R Y P R O D U C T S
9
KraftMaid ® Product Strength Improves Margins
Quarter Highlights
• Retail and dealer sales driven by continued success of KraftMaid® products
• Growth in retail and dealer sales more than offset by the exit of certain less
profitable direct-to-builder business
*Excludes business rationalization charges for the fourth quarter and the full year 2016 of $3 million and $8 million,
respectively. Excludes business rationalization charges for the fourth quarter and full year 2015 of $2 million and $5 million,
respectively, and gain from sale of property and equipment for the fourth quarter and the full year 2015 of $2 million and $5
million, respectively.
($ in Millions)
Fourth Quarter
2016
Full-Year
2016
Revenue
Y-O-Y Change
$234
(8%)
$970
(5%)
Operating Profit*
Y-O-Y Change
$19
$ -
$101
$50
Operating Margin*
Y-O-Y Change
8.1%
60 bps
10.4%
540 bps

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
10
Improvements at Milgard on Plan
Quarter Highlights
• Sales increased 2% excluding the effects of foreign currency translation
• European window sales increased 6% in local currency
($ in Millions)
Fourth Quarter
2016
Full-Year
2016
Revenue
Y-O-Y Change
$191
(2%)
$769
2%
Operating Profit (Loss)*
Y-O-Y Change
$7
$ -
($2)
($59)
Operating Margin*
Y-O-Y Change
3.7%
10 bps
(0.3%)
(780) bps
*Excludes business rationalization charges for the fourth quarter and full year 2016 of $1 million.

Strong Balance Sheet
Liquidity as of 12/31/2016
Cash and cash investments $1.0B
Short-term bank deposits $0.2B
Total $1.2B
11
Disciplined Capital Allocation
• Repurchased approximately 14.9 million shares in 2016
• 12.9 million shares left in our 50 million share repurchase program
• Increased annual dividend by $0.02 to $0.40 per share
• Rating raised by Fitch to investment grade

Masco Q4 and Full Year 2016 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
12

Q&A

Appendix

Appendix – Profit Reconciliation – Fourth Quarter
15
($ in Millions) Q4 2016 Q4 2015
Net Sales $ 1,759 $ 1,715
Gross Profit – As Reported $ 573 $ 532
Rationalization charges 4 6
(Gain) on sale of property and equipment - (2)
Gross Profit – As Adjusted $ 577 $ 536
Gross Margin - As Reported 32.6% 31.0%
Gross Margin - As Adjusted 32.8% 31.3%
Selling, General and Administrative Expenses – As Reported $ 358 $ 320
Rationalization charges 2 3
Selling, General and Administrative Expenses – As Adjusted $ 356 $ 317
Selling, General and Administrative Expenses as Percent of Net Sales – As Reported 20.4% 18.7%
Selling, General and Administrative Expenses as Percent of Net Sales – As Adjusted 20.2% 18.5%
Operating Profit – As Reported $ 215 $ 212
Rationalization charges 6 9
(Gain) on sale of property and equipment - (2)
Operating Profit – As Adjusted $ 221 $ 219
Operating Margin - As Reported 12.2% 12.4%
Operating Margin - As Adjusted 12.6% 12.8%

Appendix – Profit Reconciliation – Full Year
16
($ in Millions) 2016 2015
Net Sales $ 7,357 $ 7,142
Gross Profit – As Reported $ 2,456 $ 2,253
Rationalization charges 14 8
(Gain) on sale of property and equipment - (5)
Gross Profit – As Adjusted $ 2,470 $ 2,256
Gross Margin - As Reported 33.4% 31.5%
Gross Margin - As Adjusted 33.6% 31.6%
Selling, General and Administrative Expenses – As Reported $ 1,403 $ 1,339
Rationalization charges 8 10
Selling, General and Administrative Expenses – As Adjusted $ 1,395 $ 1,329
Selling, General and Administrative Expenses as Percent of Net Sales – As Reported 19.1% 18.7%
Selling, General and Administrative Expenses as Percent of Net Sales – As Adjusted 19.0% 18.6%
Operating Profit – As Reported $ 1,053 $ 914
Rationalization charges 22 18
(Gain) on sale of property and equipment - (5)
Operating Profit – As Adjusted $ 1,075 $ 927
Operating Margin - As Reported 14.3% 12.8%
Operating Margin - As Adjusted 14.6% 13.0%

Appendix – EPS Reconciliation – Fourth Quarter
17
(in Millions, Except per Common Share Data) Q4 2016 Q4 2015
Income from Continuing Operations before Income Taxes – As Reported $ 173 $ 160
Rationalization charges 6 9
(Gain) on sale of property and equipment - (2)
(Gain) from auction rate securities (2) -
(Gains) from private equity funds, net (3) (1)
(Earnings) from equity investments, net (1) -
Loss from other investments 3 -
Income from Continuing Operations before Income Taxes – As Adjusted $ 176 $ 166
Tax at 36% rate (63) (60)
Less: Net income attributable to noncontrolling interest 8 10
Income from Continuing Operations, as adjusted $ 105 $ 96
Income per common share, as adjusted $ 0.33 $ 0.29
Average Diluted Shares Outstanding 323 335

Appendix – EPS Reconciliation – Full Year
18
(in millions, except per common share data) 2016 2015
Income from Continuing Operations before Income Taxes – As Reported $ 830 $ 689
Rationalization charges 22 18
(Gain) on sale of property and equipment - (5)
(Gain) from auction rate securities (3) -
(Gains) from private equity funds, net (5) (6)
(Earnings) from equity investments, net (2) (2)
Loss from other investments 3 -
Income from Continuing Operations before Income Taxes – As Adjusted $ 845 $ 694
Tax at 36% rate (304) (250)
Less: Net income attributable to non-controlling interest 43 39
Income from Continuing Operations, as adjusted $ 498 $ 405
Income per common share, as adjusted $ 1.51 $ 1.19
Average Diluted Shares Outstanding 330 341

($ in Millions) 2017 Estimate 2016 Actual
Rationalization Charges1 ~ $2 $22
Tax Rate ~ 36% 36%
Interest Expense ~ $175 $229
General Corp. Expense ~ $100 $109
Capital Expenditures ~ $200 $180
Depreciation & Amortization ~ $130 $134
Foreign Currency Translation
Impact to Sales2 ~ ($100) ($68)
Shares Repurchased3 $400-500 $459
Shares Outstanding4
323 million 323 million
1. Based on 2017 business plans.
2. Based on rates as of December 29, 2016.
3. 2016 share repurchases include approximately 1.1 million shares that were repurchased to offset grants of long-term stock awards.
4. Reflects weighted average diluted shares outstanding for the fourth quarter 2016 and assumes no share repurchases in 2017.
19
2017 Guidance Estimates

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%
20

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