1. 2014 Fourth Quarter Earnings Presentation
NYSE: DOOR
February 25, 2014

2. Safe 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
Adjusted EBITDA is a measure used by management to measure operating performance. Adjusted EBITDA is defined as net income (loss) attributable to Masonite plus depreciation,
amortization, restructuring costs, loss (gain) on sale of property, plant and equipment, asset impairment, 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 (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 presentation 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 table in the appendix sets forth a reconciliation of Adjusted EBITDA
to net income (loss) attributable to Masonite for the periods indicated.
2

3. ① Company / Industry Update
② 2014 Financial Review
③ Summary / Q&A

4. Company / Industry Update
2014 Recap
4
Masonite’s Balanced Growth Strategy is Delivering Results
2014 Headwinds2014 Highlights
• North America Volume Growth
• Positive unit volume growth for 5th consecutive year
• Higher North American Average Unit Price
• Consistent improvement since Q2’ 2013
• Door-Stop acquisition
• Completed acquisition in February 2014
• Strong Financial Results
• Net Sales increased 6.2%
• Adjusted EBITDA increased 29.5% to $137.1MM
• Adjusted EBTIDA margin increased 140 bps
• Reduced working capital as a % of sales 110 bps
• South Africa
• Explosion at Estcourt Mill in Q2’14
• Adjusted EBITDA impact estimated at $6.0-7.0MM
• Israel
• No longer operating as part of Masonite
• Restructuring charge of $9.5MM in 2014
• France
• Housing starts down 10% in 2014
• Non-cash Impairment charge of $13.8MM in Q4’14
• Foreign Exchange Impact
• Net Sales ($23.6MM) & Adjusted EBITDA ($1.6MM)
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
Q2'12
Q3'12
Q4'12
Q1'13
Q2'13
Q3'13
Q4'13
Q1'14
Q2'14
Q3'14
Q4'14
North American Change in Average Unit Price South AfricaFrance / Israel

5. Company / Industry Update
Five Focus Areas Designed to Accelerate Growth
Product Line Leadership
Sales and Marketing Excellence
Electronic Enablement
Automation
Portfolio Optimization: Strategic Acquisitions & Market Exits
5
Goal: Grow Share & Expand Margins Beyond Macroeconomic Recovery

6. Company / Industry Update
Investing in Masonite’s Future
6
The Most Robust Set of New Product Introductions in 9 Years
• Heritage Series
Three new designs that combine the architectural
detail of authentic wood shaker doors with the
strength and durability of molded panel doors
• Vista Grande
An exciting new line of modern fiberglass entry
doors incorporating wider glass brighten any
space and provide a leading edge, more
fashionable design
• Decorative Glass
Nine consumer preferred designs ranging from
minimalistic, contemporary styles to timeless,
Craftsman styles
Product Line Leadership
Heritage Series Vista Grande
Decorative Glass

7. Company / Industry Update
Investing in Masonite’s Future
Electronic Enablement
7
Sales & Marketing Excellence
Targeted Investments in Sales, Marketing and Information Technology Capabilities
• Down channel investments focused on influencing
key decision makers and direct customers.
• Influencing architectural code, compliance and
specification writing helps ensure consumers get
products designed to suit their specific needs.
• Consumer education helps drive customer
satisfaction and facilitates trade up.
ERPSales HR
• Migrating all acquired and legacy businesses within
Masonite’s Architectural business onto a common
ERP system.
• Max Configurator and Max 3.0
• Desktop icon with 1-click login and password
memory
• Dealer-friendly, quick-entry configuration
screen.

8. • Acquisitions:
 Door Stop – February 2014
 Harring Doors – December 2014
Company / Industry Update
Investing in Masonite’s Future
Automation Acceleration
8
Automation Initiatives & Portfolio Optimization are Strengthening Masonite’s Business
• Robotics, Scanning RFID Technologies and
Integrated PLCs:
• Improves safety and lowers health care
costs by reducing the amount of manual
manipulation required to manufacture a
door
• Improves quality, consistency and reduces
handling defects by having a consistent,
repeatable process
• Enables faster response time to changes in
consumer preferences and market demand
Portfolio Optimization
• Dispositions:
 Non-Strategic markets
 Poor macroeconomic outlook
 Outdated facilities or equipment
 Poor cash conversion metrics
 Exited 6 markets since 2010:
 Israel 2014
 Poland 2014
 Hungary 2012
 Romania 2012
 Ukraine 2010
 Turkey 2010

9. Company / Industry Update
Drivers of Continued Expansion
Recent Pricing Actions
9
Q1’15 Q2’15 Q3’15 Q4’15
Q1’14
Q3’14
Expected
Benefits
Higher Pricing Enables More Re-Investment with our Channel Partners
Incremental Benefits from 2014 Pricing Actions 2015 Pricing Actions
2015 Q1 Wholesale Pricing Action
• Wholesale increase to be effective in March across
interior and exterior products in the U.S. & Canada
• Benefits expected to begin hitting P&L in Q2

10. ① Company / Industry Update
② 2014 Financial Review
③ Summary / Q&A

11. $105.9
$137.1
$100.0
$110.0
$120.0
$130.0
$140.0
$150.0
2013 2014
$1,731.1
$1,837.7
$1,500.0
$1,700.0
$1,900.0
$2,100.0
$2,300.0
2013 2014
31.6
32.7
25.0
27.5
30.0
32.5
35.0
37.5
2013 2014
Net Sales Adjusted EBITDA*Door Volume^
(in millions) (millions of USD) (millions of USD)
2013 2014 2013 2014 2013 2014
(^) – Does not include Africa segment.
(*) – See appendix for non-GAAP reconciliations.
2014 Full Year Financial Results
Door Volume, Net Sales and Adjusted EBITDA
11
Door Volume, Net Sales & Adjusted EBITDA Reflect Improving Fundamentals
+29.5%+6.2%+3.5%
+7.5%Excluding impact of F(x) +31.0%Excluding impact of F(x)

12. (^) – Lower personnel costs of $4.2MM was more than offset by (among other things) a $7.4MM increase due to Door Stop, $5.7MM of
non-cash losses on disposals of PP&E and a $3.1MM increase in professional fees driven (primarily) by SOX compliance costs.
(*) – See appendix for non-GAAP reconciliations
Net Sales
Gross Profit
Gross Profit %
SG&A^
SG&A %
Adj. EBITDA*
Adj. EBITDA %
2014
$1,837.7
$265.4
14.4%
$224.1
12.2%
$137.1
7.5%
2013
$1,731.1
$225.5
13.0%
$207.2
12.0%
$105.9
6.1%
Change
+6.2%
+17.7%
+140 bps.
+8.2%
+20 bps.
+29.5%
+140 bps.
2014 Full Year Financial Results
Consolidated P&L Information
12
Improving Margins from Higher Average Unit Pricing and Increased Volume
(Millions of USD)

13. 2013 Net Sales
Volume*
Avg. Unit Price
Other
FX
2014 Net Sales
North America
$1,321.6
$37.8
$65.6
($7.3)
($21.7)
$1,396.0
Europe/ROW
$339.9
$17.8
$20.6
$1.5
$5.3
$385.1
Africa
$69.6
($22.9)
$17.1
$0.0
($7.2)
$56.6
Total
$1,731.1
$32.7
$103.3
($5.8)
($23.6)
$1,837.7
1.9%
6.0%
(0.3%)
(1.4%)
6.2%
(*) - Includes the incremental impact of our 2014 acquisitions.
(Millions of USD)
+5.6% +13.3% -18.7%
% Change
2014 Full Year Financial Results
Net Sales Reconciliation by Reportable Business Segment
Average Unit Price Increased in all Three Reportable Business Segments
13

14. (*) – See appendix for non-GAAP reconciliations
Net Sales
Gross Profit
Gross Profit %
SG&A*
SG&A %
Adj. EBITDA
Adj. EBITDA %
Q4’14
$448.9
$67.6
15.1%
$53.9
12.0%
$37.7
8.4%
Q4’13
$420.5
$51.5
12.2%
$54.7
13.0%
$17.8
4.2%
Change
+6.8%
+31.3%
+290 bps.
-1.5%
-100 bps.
+111.8%
+420 bps.
2014 Fourth Quarter Financial Results
Consolidated P&L Information
14
Adjusted EBITDA Margin Doubled due to Increased Volume and Higher AUP
(Millions of USD)

15. $0.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
$45.0
$50.0
Q1'13 Q1'14 Q2'13 Q2'14 Q3'13 Q3'14 Q4'13 Q4'14
15
2014 Full Year Adjusted EBITDA Increased Nearly 30% vs. 2013
2014 Fourth Quarter Financial Results
Adjusted EBITDA Quarterly Progression
Adjusted EBITDA* Continues to Grow after a Slow First Quarter
(*) – See appendix for non-GAAP reconciliations.
(in millions)
-24.8%
+31.6%
+25.4%
+111.8%

16. 2015 Outlook
Balancing Tailwinds, Headwinds & Investments in Our Future
Tailwinds
16
• Modest Unit Volume Growth
• Higher Average Unit Prices
Investments for the Future*
2015 Net Sales and Adj. EBITDA Growth Rates Expected To Be Similar To 2014^
• Product Line Leadership
• Strengthening material sciences
• Product management
• Sales & Marketing Excellence
• Down channel initiatives focused on influencing
key decision makers and end consumers
• Electronic Enablement
• ERP system for acquired businesses
• Max Configurator
• Automation Acceleration
• Mechanical and process engineers
• Quality control
Headwinds
• Inflation
• Wood / metals / chemicals / glass
• Tightening labor market / health care costs
• Uncertainty
• Business trends in France
• Foreign exchange
(*) – 2015 capital expenditures are expected to be approximately $60-$65 million.
(^) – 2014 net sales increased approximately 6% and adjusted EBITDA increased approximately 30%.

17. Financial Policy & Coverage Ratios
Selected Cash Flow Data 2014 2013
Cash flow from operations $77.4 $47.5
Additions to property, plant & equipment ($50.1) ($46.0)
Cash used in acquisitions ($54.3) ($15.4)
Gross Proceeds from issuance of LT debt $138.7 $0.0
Payment of financing costs ($1.9) $0.0
Increase (decrease) in cash & cash
equivalents
$91.2 ($21.4)
Unrestricted Cash $192.0
ABL Borrowing Base $121.8
AR Purchase Agreement $13.9
Total Available Liquidity $327.7
Liquidity at December 28, 2014 (millions of USD)
2014 Adj. EBITDA^ $137.1
2014 Interest Expense $41.5
Total Debt $511.9*
Net Debt $319.9
2014 Fourth Quarter Financial Results
Liquidity, Credit and Debt Profile
Debt Maturity Schedule
8.25% Senior Unsecured Notes due 2021
17
(*) – Includes $11.9 million unamortized premium
(^) – See appendix for non-GAAP reconciliations.
(~) – All-in weighted yield of 7.65%
Strong Company Performance and Successful Acquisitions Have Improved Financial Ratios
3.6
5.2
4.7
4.4
3.7
2.6
3.5
3.0
2.6
2.3
3.2
2.8 2.9
3.0
3.3
1.8
1.5
1.6
1.5 2.1
0.0
1.0
2.0
3.0
4.0
5.0
6.0
Dec-13 Mar-14 Jun-14 Sep-14 Dec-14
Total Debt / Adj. EBITDA Net Debt / Adj. EBITDA
Adj. EBITDA / Interest (Adj. EBITDA - Capex) / Interest
$125
$500
0
100
200
300
400
500
600
2013 2014 2015 2016 2017 2018 2019 2020 2021
8.25% Senior Unsecured Notes~$125 mm Asset Backed Loan
1 - Targeted Total Debt/Adj. EBITDA ratio of < or equal to 4.0x

18. ① Company / Industry Update
② 2014 Financial Review
③ Summary / Q&A

19.  Fundamentals Continue to Improve
 2014 full year and 2014 Q4 results were strong:
 Net sales increased 6.2% / 6.8%
 Adjusted EBITDA increased 29.5% / 111.8%
 Adjusted EBITDA margin expanded 140 / 420 basis points to 7.5% / 8.4%
 Investing in Five Key Focus Areas Designed to Accelerate Growth
 Product Line Leadership
 Sales & Marketing Excellence
 Electronic Enablement
 Automation
 Portfolio Optimization
 Expect Another Strong Year in 2015 Balancing Growth and Investment
 U.S. new housing starts and completions both continue to grow
 2014 and 2015 pricing actions and positive mix expected to increase AUP
 Areas of potential inflation (materials / labor) and uncertainty (France / FX) exist
 Investing across key focus areas to protect and strengthen Masonite’s future
19
Summary
Masonite’s Balanced Growth Strategy is Working

20. Questions & Answers

21. Appendix

22. Reconciliation of Adjusted EBITDA to Net Income
(loss) Attributable to Masonite
22
(In thousands)
December 28,
2014
September 28,
2014
June 29,
2014
March 30,
2014
December 29,
2013
Adjusted EBITDA 137,087$ 117,172$ 110,007$ 99,418$ 105,877$
Less (plus):
Depreciation 60,622 60,222 59,885 61,000 62,080
Amortization 21,723 20,348 19,736 18,479 17,058
Share based compensation expense 9,605 9,335 8,921 8,205 7,752
Loss (gain) on disposal of property, plant and
equipment 3,816 2,394 (614) (797) (1,775)
Registration and listing fees — 423 2,421 2,421 2,421
Restructuring costs 11,137 17,357 8,709 9,911 10,630
Asset impairment 20,657 — — 1,903 1,904
Interest expense (income), net 41,525 39,476 37,359 34,973 33,230
Other expense (income), net (587) 4,175 4,324 (949) 2,316
Income taxexpense (benefit) 4,533 (10,259) (18,535) (22,308) (21,377)
Loss (income) from discontinued operations, net of tax 630 838 776 649 598
Net income (loss) attributable to non-controlling
interest 3,222 1,425 2,005 2,166 2,050
Net income (loss) attributable to Masonite (39,796)$ (28,562)$ (14,980)$ (16,235)$ (11,010)$
Twelve Months Ended
(In thousands)
December 28,
2014
September 28,
2014
June 29,
2014
March 30,
2014
December 29,
2013
September 29,
2013
June 30,
2013
March 31,
2013
Adjusted EBITDA 37,722$ 35,597$ 44,050$ 19,718$ 17,807$ 28,432$ 33,461$ 26,177$
Less (plus):
Depreciation 14,798 15,842 14,536 15,446 14,398 15,505 15,651 16,526
Amortization 5,550 4,889 5,593 5,691 4,175 4,277 4,336 4,270
Share based compensation expense 2,270 2,255 2,797 2,283 2,000 1,841 2,081 1,830
Loss (gain) on disposal of property, plant and
equipment 1,457 236 1,036 1,087 35 (2,772) 852 110
Registration and listing fees — — — — 423 1,998 — —
Restructuring costs (57) 9,913 560 721 6,163 1,265 1,762 1,440
Asset impairment 20,657 — — — — — 1,904 —
Interest expense (income), net 10,491 10,447 10,594 9,993 8,442 8,330 8,208 8,250
Other expense (income), net (1,670) (404) 1,306 181 3,092 (255) (363) (158)
Income taxexpense (benefit) 1,131 2,004 1,379 19 (13,661) (6,272) (408) (1,036)
Loss (income) fromdiscontinued operations, net of tax 194 124 170 142 402 62 44 90
Net income (loss) attributable to non-controlling
interest 1,724 258 499 741 (73) 838 605 680
Net income (loss) attributable to Masonite (18,823)$ (9,967)$ 5,580$ (16,586)$ (7,589)$ 3,615$ (1,211)$ (5,825)$
Three Months Ended