Fourth Quarter and Full Year
2012
Masco Earnings Presentation

Safe Harbor Statement
Written and oral statements made in this presentation that reflect our views about our future
performance 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. These views 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 our reliance on new
home construction and home improvement, our reliance on key customers, the cost and availability
of raw materials, shifts in consumer preferences and purchasing practices, our ability to improve
our underperforming businesses, and our ability to maintain our competitive position in our
industries. These and other factors are discussed in detail in Item 1A, “Risk Factors” in our 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. Our 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.
Certain of the financial and statistical data included in this presentation and the related
materials are non-GAAP financial measures as defined under Regulation G. The Company believes
that non-GAAP performance measures and ratios used in managing the business may provide
attendees of this presentation with additional meaningful comparisons between current results and
results in prior periods. Non-GAAP performance measures and ratios should be viewed in addition
to, and not as an alternative for, the Company's reported results under accounting principles
generally accepted in the United States. Additional information about the Company is contained in
the Company's filings with the SEC and is available on Masco’s web site, www.masco.com.
2

Masco Q4 & Full Year 2012 Results – Agenda
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
3

Key Messages Today
Improved Q4 results provide momentum going into 2013
Sales growth driven by increased North American new
home construction activity and successful product &
program introductions
Margin improvement reflects operating leverage,
execution on pricing and total cost productivity
Strong progress on the priorities we set at the
beginning of the year
4

Delivered on 2012 Priorities
Cabinet profit improvement
Installation profit improvement
Successfully launched new products and programs
Reduced debt by ~$400M/refinanced $400M
Invested in strategic growth initiatives
Grew share of key brands
Total cost productivity
Geographic expansion
5

Strategy Execution Highlights Full Year 2012
• New product and program introductions at retail with
1 Plumbing and Decorative Architecture
Expand market • Strong residential new construction, retrofit and commercial
leadership channel growth in Installation Services
• Window share gains in the Western U.S.
2
• Exceeded total cost productivity targets
Reduce costs • Supply chain and lean initiatives positively impacted
results
3
• Significant reduction in operating losses in our Cabinet
Improve and Installation segments
underperforming • New management team at Masco Cabinetry
businesses
4 • Debt reduction
Strengthen • Strong liquidity
Balance Sheet
• Strong working capital management
6

North America Cabinetry’s Strategic Initiatives
1 • Dealers
• Builders
Customer Focus
• Retail
• Consumers
2
• Channel strategies
Profitable • Promotions
Revenue Growth
• Products
3
• Rationalize operational footprint
Cost Realignment
• Increase overhead efficiency
7

Masco Q4 and Full Year 2012 Results – Agenda
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
8

Positive Contribution from All Segments in Q4
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue $1,890 $7,745
Growth 9% 4%
Adjusted Operating
$94 $472
Profit* $67 $143
Y-O-Y Change
Adjusted Operating
5.0% 6.1%
Margin* 340 bps 170 bps
Y-O-Y Change
Adjusted EPS* $0.04 $0.32
*See appendix for reconciliation to GAAP information.
Quarterly Highlights
• North America sales increased 12%; International sales increased
2% in local currency
• Sales growth driven by increased sales in retail, new home
construction, and international channels
• All segments contributed to sales and operating margin growth
9

Fourth Quarter 2012 Operating Profit Reflects Successful
Price/Commodity Management and Increased Volume
$32M $(2M)
$94M
$37M
$27M
Y-O-Y Change in
Operating Profit $67M
Q4 2011 Net Net Volume/Mix Profit Q4 2012
Operating Profit* Price/Commodity Improvement & Operating Profit*
All Other Net
*See appendix for reconciliation
10

Plumbing Products:
Strong Performance in both North America and International
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue* $739 $2,955
Growth 10% 1%
Adjusted Operating
$72 $332
Profit** $16 ($6)
Y-O-Y Change
Adjusted Operating
9.7% 11.2%
Margin** 140 bps (40) bps
Y-O-Y Change
*Excluding the effect of currency, sales increased 10% and 4% in the fourth quarter and full year 2012, respectively, compared to 2011.
**Excludes business rationalization charges of $7M and $3M in the fourth quarter of 2012 and 2011, respectively and $25M and $15M in the full year of
2012 and 2011, respectively. Also excludes goodwill impairment charge of $1M in the fourth quarter and full year of 2011.
Quarterly Highlights
• North American sales increased 12%
• Sales growth driven by increased sales in both retail and trade
• Successful launches of toilets and new faucets with key retail partner
• International sales increased 9% in local currency despite a challenging
economic environment
11

Decorative Architectural Products:
Core Products and New Programs Drive Sales Growth
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue $386 $1,818
Growth 11% 9%
Adjusted Operating
$65 $329
Profit* $30 $46
Y-O-Y Change
Adjusted Operating
16.8% 18.1%
Margin* 670 bps 120 bps
Y-O-Y Change
*Excluding business rationalization charges of $11M and $12M in the fourth quarter and full year of 2011, respectively. Also excludes goodwill
impairment charge of $75M in the fourth quarter and full year 2011.
Quarterly Highlights
• Sales driven by strong Behr Premium Plus Ultra sales, Behr Pro growth,
Behr’s expansion into Mexico, and Builder’s Hardware performance at
retail
• Margins impacted by decreased program and promotional costs and
the timing of price increases
12

Cabinets and Related Products:
North American Sales Grew 13% in Q4
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue* $289 $1,189
Y-O-Y Change 1% (3%)
Adjusted Operating
$(26) $(83)
Loss** $12 $32
Y-O-Y Change
Adjusted Operating
(9.0%) (7.0%)
Margin** 420 bps 230 bps
Y-O-Y Change
*Excluding the effect of currency, sales increased 1% and decreased 2% in the fourth quarter and full year of 2012, respectively compared to 2011.
**Excludes business rationalization charges of $24M and $13M in the fourth quarter of 2012 and 2011, respectively, and $37M and $47M in the full
year 2012 and 2011, respectively. Also excludes goodwill impairment charge of $44M in the fourth quarter and full year of 2011.
Quarterly Highlights
• North American sales increased 13%, reflecting solid sales
growth with our countertop, retail, dealer and builder
channels
• North American Cabinets driving segment operating profit
13 improvement

Installation and Other Services:
A Return to Profitability in Q4 with Strong
Operating Leverage
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue $323 $1,209
Growth 13% 12%
Adjusted Operating
$6 ($18)
Profit/Loss* $12 $53
Y-O-Y Change
Adjusted Operating
1.9% (1.5%)
Margin* 400 bps 510 bps
Y-O-Y Change
*Excludes business rationalization charges of $2M in the fourth quarter of 2011, and $1M and $8M in the full year of 2012 and 2011,
respectively.
Quarterly Highlights
• Sales growth driven by higher volumes in residential new home
construction and commercial channels, partially offset by the mix shift
in starts composition
• Installation sales to residential new home construction increased
nearly 30%
14 • Segment returned to profitability, reflecting strong operating leverage

Other Specialty Products:
Strong Performance Reflects Share Gains and
Profit Improvement
Fourth Quarter Full Year
($ in Millions)
2012 2012
Revenue $153 $574
Y-O-Y Change 6% -
Adjusted Operating
$7 $24
Profit* $7 $20
Y-O-Y Change
Adjusted Operating
4.6% 4.2%
Margin 460 bps 350 bps
Y-O-Y Change
*Excludes business rationalization charges of $29M in the fourth quarter of 2011, and $1M and $31M in the full year of 2012 and 2011, respectively.
Excludes warranty change in estimate of $12M in the full year of 2012. Also excludes impairment charges for goodwill and other intangible asset of $42M
and $374M in the fourth quarter and full year of 2012 and 2011, respectively.
Quarterly Highlights
• Sales growth driven by increased new home construction and repair &
remodel sales, new product introductions and share gains
• Excluding the exit of select U.S. Window markets, North American
window sales increased high teens percent
• Margins impacted by profit improvement initiatives and reduced new
15 product introduction costs

Strengthening the Balance Sheet
• Continued strong working capital execution
• Net debt reduction of $400M
• Bank line availability of $873M
$1.4 billion of cash as of 12/31/2012
16

Masco Q4 and Full Year 2012 Results – Agenda
Topic
• Summary of Results Tim Wadhams
• Financial/Operations Review John Sznewajs
• Outlook Tim Wadhams
• Q&A
17

2013 Outlook
Risks Opportunities
• Impact of reduced consumer • Positive momentum coming
disposable income out of 2012
• Commodity cost volatility • Improving demand in new
home construction
• European economic
uncertainty • Successful new product and
program launches at retail
• Leadership changes at Masco
Cabinetry
• Strong liquidity
18

Focus on 2013 Priorities
Cabinet profit improvement
Profitably grow Installation
Successfully launch new products and programs
Reduce debt by ~$200M
Investment in strategic growth initiatives
Grow share of key brands
Total cost productivity
Geographic expansion
19

Q&A

Appendix – Profit Reconciliation – Fourth Quarter
($ in Millions) Q4 2012 Q4 2011
Sales $ 1,890 $ 1,738
Gross Profit – As Reported $ 446 $ 332
Rationalization charges 27 48
Gross Profit – As Adjusted $ 473 $ 380
Gross Margin - As Reported 23.6% 19.1%
Gross Margin - As Adjusted 25.0% 21.9%
Operating Profit (Loss) – As Reported $ 21 $ (531)
Impairment of goodwill and other intangible assets $ 42 $ 494
Rationalization charges 31 61
Charge for litigation settlements, net 3 3
Gain from sales of fixed assets, net (3) -
Operating Profit – As Adjusted $ 94 $ 27
Operating Margin - As Reported 1.1% -30.6%
Operating Margin - As Adjusted 5.0% 1.6%
21

Appendix – Profit Reconciliation – Full-Year
($ in Millions) YTD 12/31/12 YTD 12/31/11
Sales $ 7,745 $ 7,467
Gross Profit – As Reported $ 1,951 $ 1,784
Rationalization charges 52 91
Other Specialty Products - Warranty 12 -
Gross Profit – As Adjusted $ 2,015 $ 1,875
Gross Margin - As Reported 25.2% 23.9%
Gross Margin - As Adjusted 26.0% 25.1%
Operating Profit (Loss) – As Reported $ 271 $ (295)
Rationalization charges 78 121
Charge for litigation settlements, net 77 9
Impairment of goodwill and other intangible assets 42 494
Other Specialty Products - Warranty 12 -
Gain from sales of fixed assets, net (8) -
Operating Profit – As Adjusted $ 472 $ 329
Operating Margin - As Reported 3.5% -4.0%
Operating Margin - As Adjusted 6.1% 4.4%
22

Appendix – EPS Reconciliation – Fourth Quarter
(in Millions) Q4 2012 Q4 2011
Loss from Continuing Operations before Income Taxes – As Reported $ (37) $ (593)
Impairment of goodwill and other intangible assets $ 42 $ 494
Rationalization charges 31 61
Charge for litigation settlements, net 3 3
Gain from sales of fixed assets, net (3) -
Gain from financial investments, net (4) (4)
Income (Loss) from Continuing Operations before Income Taxes – As $ 32 $ (39)
Adjusted
Tax at 36% rate benefit (expense) (12) 14
Less: Net income attributable to non-controlling interest 7 5
Net Income (Loss), as adjusted $ 13 $ (30)
Income (Loss) per common share, as adjusted $ 0.04 $ (0.09)
Shares Outstanding 349 348
23

Appendix – EPS Reconciliation – Full-Year
($ in Millions) YTD 12/31/12 YTD 12/31/11
Income (Loss) from Continuing Operations before Income Taxes – As $ 42 $ (472)
Reported
Rationalization charges $ 78 $ 121
Charge for litigation settlements, net 77 9
Impairment of goodwill and other intangible assets 42 494
Other Specialty Products - Warranty 12 -
Interest carry costs 7 -
Gain from sales of fixed assets, net (8) -
Gain from financial investments, net (22) (73)
Income (Loss) from Continuing Operations before Income Taxes – As $ 228 $ 79
Adjusted
Tax at 36% rate benefit (expense) (82) (28)
Less: Net income attributable to non-controlling interest 35 42
Net Income, as adjusted $ 111 $ 9
Income per common share, as adjusted $ 0.32 $ 0.02
Shares Outstanding 349 348
24

2013 Guidance Estimates
($ in Millions) 2013 Estimate 2012 Actual
Rationalization Charges1 ~ $40 $78
Tax Rate ~ 25% 198%
Interest Expense ~ $240 $254
General Corp. Expense2 ~ $130 $126
Capital Expenditures ~ $165 $119
Depreciation & Amortization3 ~ $210 $214
Shares Outstanding 349 million 349 million
1 – Based on current business plans.
2 – Includes rationalization expenses of $14M for the year ended December 31, 2012.
3 – Includes accelerated depreciation of $28M for the year ended December 31, 2012. Such expenses are also
included in the rationalization charges.

Segment Mix Full Year 2012 Estimate
Business Segment Revenue 2012 % of Total R&R% vs. NC NA% vs. Int’l
Plumbing
Products $3.0B 38% 82% 59%
Decorative
Architectural $1.8B 24% 99% 100%
Products
Cabinets and
Related Products $1.2B 15% 69% 73%
Installation and
Other Services $1.2B 16% 16% 100%
Other Specialty
Products $0.6B 7% 75% 75%
Total company $7.8B 100% 73% 78%
26 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

2012 Masco International Revenue Split*
7%
14%
10% 23%
North America
United Kingdom
Northern Europe
Southern Europe
Central Europe
Eastern Europe
34% 8% Emerging Markets
4%
International Sales Accounted for ~22%
of Total 2012 Masco Sales
27 *Based on company estimates