Deutsche Bank 7th Annual Global Industrials and Materials Summit

John Sznewajs

Chief Financial Officer

June 8, 2016

Safe Harbor Statement

Statements contained 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. 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 sustain the performance of our cabinetry businesses, 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.

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Agenda

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The Company

The Transformation

The Outlook

Revenue1 $7.1B

Market cap >$10B

Dividend yield ~1.2%

Free Cash Flow2 ~$500M

Focused on Repair & Remodel4

(Breakdown of 2015 Revenue)

NewConstruction

Repair &Remodel83%17%

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Liquidity3 $1.0B

M A S C O A T A G L A N C E

Global Leader in Branded Home Improvement and Building Products

1. Revenue reflects 2015 Net Sales excluding the results of our Installation and Other Services segment which was spun off as TopBuild on 6/30/2015. 2. Free Cash Flow reflects the year ended 12/31/2015.3. As of March 31, 2016 adjusted to exclude $1.3B of cash payment relating to the discharge of indebtedness in April 2016.4. Based on company estimates; excludes TopBuild.

M A S C O A T A G L A N C E

Strong Brands with Industry Leading Positions

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BUSINESS SEGMENT

CabinetryProducts

PlumbingProducts

DecorativeArchitecturalProducts

$1.0B

$3.3B

$2.0B

REVENUE 2015

$7.1BTotal Company

Windows and Other SpecialtyProducts

$0.8B

LEADING POSITIONS

Leading U.S. kitchen and bath cabinetry brands

#1 worldwide in faucets, fittings, showerheads

#1 in spas

Leading DIY paint and stain provider

#1 in vinyl windows in the western U.S.

M A S C O A T A G L A N C E

Key Strengths

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1 Unparalleled brand strength

2 Customer focused innovation

3 Broad market coverage

4 Strong financial position

M A S C O A T A G L A N C E

Unparalleled Brand Strength

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Masco Cabinetry(cabinet manufacturer

in U.S.)

Delta®

(faucet brandin North America)

Behr®

(DIY architecturalcoatings in

North America)

Milgard®

(vinyl windowbrand in

Western U.S.)

Hansgrohe®

(global faucet and mixer brand)

Arrow®, Liberty®,BrassCraft® and

Watkins®

(in their respectivecategories)

#2

#1

#1 #1

#1

#2

M A S C O A T A G L A N C E

Leaders in Innovation

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25%*

Examples of New Products / Technologies

ExistingProducts

201420132012

75%

Hansgrohe SelectTM

Collection

KraftMaid® New Design Launch

2015 Revenues

Delta® Toilets

Paint & Primerin One

KraftMaid®

Vanities

Behr DeckOver®

Coating

KraftMaidVantage®

Cabinetry

Behr Marquee®

Coating

Delta Temp2O®

Showerhead

2015

Delta EssaTM

Collection

Behr TexturedDeckOver®

Coating

Axor® Starck V Collection

*Based on company estimates

M A S C O A T A G L A N C E

Broad Coverage Across Attractive Segments, Price Points and Channels

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Segments Price Points Channels

Newconstruction

17%

Repair / remodel

83%

International21%

N. America79%

• Low ticket value ~$20

• High ticket luxury ~$20K • Direct-to-Builder

• Big box retail

• Wholesale / dealer trade

M A S C O A T A G L A N C E

Strong Balance Sheet with Significant Financial Flexibility

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Strong Liquidity(as of 3/31/2016)

Reducing Leverage(as of 3/31/2016)

Balance Sheet Liquidity

Cash and cash investments $0.8B1

Short-term bank deposits $0.2B

Total $1.0B

1 Cash and cash investments excludes $1.3 billion of cash payments relating to the discharge of indebtedness in April 2016.2 Net debt defined as Total Debt ($4.3 billion) less cash and cash investments ($2.2 billion) and short-term bank deposits ($0.2 billion).3 See appendix for GAAP reconciliation.4 Includes debt reduction of approximately $0.4 billion in April 2016.

Financial Flexibility

Net debt2 / Adjusted EBITDA3 1.7x

Revolver availability $.75B

Debt reduction since 20114 ~$1B

Agenda

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The Company

The Transformation

The Outlook

Organization

Operational Excellence

Portfolio and Capital Allocation

T H E “ N E W ” M A S C O

Transformational Initiatives

Formed a new management team

Instituted a center led business model

Restructured HQ

Made key business unit management changes

Completed spin off of TopBuild

Authorized share buy back of 50 million shares

Increased dividend

Reduced costs and increased efficiencies

Standardized planning processes

Prioritized capability building

Drove cost improvement culture

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T H E “ N E W ” M A S C O

Created a Less Cyclical Business

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North America 19%81% Int’l

R&R 29%71% New home

North America 21%79% Int’l

R&R 17%83% New home

Revenue Breakdown – International vs. North America

Revenue Breakdown – R&R vs. New Home Construction

1. Based on 2014 revenues (including TopBuild) and company estimates.2. Based on 2015 revenue and company estimates.

More Global Diversification

Less Cyclicality

Pre-Spin1 Post-Spin2

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T H E “ N E W ” M A S C O

Focus on Operational Excellence

Aligned on Key

Financial Metrics

Capitalize on our Strong Operating Leverage

Strong Management

Team

Culture of Accountability

R E S U L T S :

Stable Revenues, Strong Profitability

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$6.3

$7.1

2012 2015

Revenues($B)

$505

$927

2012 2015

$0.38

$1.19

2012 2015

EPS*($)

Operating Profit*($M)

4%CAGR

22%CAGR

46%CAGR

*Amounts exclude TopBuild.*See appendix for GAAP reconciliation. EPS as reported was $0.15 in 2012 and $1.03 in 2015.

Agenda

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The Company

The Transformation

The Outlook

S T R A T E G Y F O R G R O W T H

Fundamentals Impacting our End Markets are Strong

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1Age of US

Housing Stock

2Home Price Appreciation

3HousingTurnover

4Household Formation

5Housing

Affordability

S T R A T E G Y F O R G R O W T H

Strategies which Capitalize on Masco’s Strengths

DecorativeArchitectural

ProductsSegment

Cabinetry ProductsSegment

Windows And Other

SpecialtyProductsSegment

PlumbingProductsSegment

1.Extend Milgard’s leadership position in Western U.S.2.Pursue geographic expansion with Milgard® products 3.Extend UK Window Group’s leadership position

Sales Growth:9-11% CAGR

Operating Margins:~10-13%

1.Extend leadership in North American plumbing2.Pursue category expansion3.Growth in priority international markets, both organically and

inorganically

1.Extend our Consumer leadership position2.Grow share in the PRO paint segment 3.Leverage the KILZ® and Liberty® family of brands

Sales Growth:4-6% CAGR

Operating Margins:~16-17%

3 Year GoalsStrategic Priorities

Sales Growth:6-9% CAGR

Operating Margins:~18%

1.Profitably recover KraftMaid® and Merillat® share2.Execute Builder Direct turnaround3.Achieve margin improvement targets

Sales Growth:4-7% CAGR

Operating Margins:~8-9%

19Note: 2014 amounts restated to exclude TopBuild. Future performance reflects company estimates.

7%CAGR

16%CAGR

27%CAGR

Revenue*($B)

Operating Profit*($B)

EPS*($)

$6.8

$8.3

2014 2017

$0.88

$1.80

2014 2017

$0.74

$1.15

2014 2017

*2014 revenue and operating profit uses a $1.10 Euro to USD foreign exchange rate . See appendix for GAAP reconciliation.

S T R A T E G Y F O R G R O W T H

Clear Line of Sight to Profitable Growth

F I N A N C I A L F L E X I B I L I T Y

Strong Free Cash Flow Coupled with Disciplined Capital Deployment

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Invest in the business

Pay down debt

Bolt on acquisitions

Return capital to shareholders~$2B

FCF2015 - 2017

+

+

New Masco. Positioned to Outperform

Leveraging a portfolio of industry leading global brands with compelling growth strategies

Aligned management team with a clear strategic focus

Strong free cash flow generation and capital management driving value to shareholders

+

Transformative actions have delivered strengthened results and redefined Masco

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Positioned to Outperform

Q&A

Appendix

($ in Millions) 2016 Estimate 2015 Actual1

Rationalization Charges2 ~ $8 $18

Tax Rate3 ~ 36% 43%

Interest Expense ~ $230 $225

General Corp. Expense4 ~ $100 $105

Capital Expenditures ~ $190 $152

Depreciation & Amortization ~ $140 $127

Shares Repurchased5 $400-500 $456

Shares Outstanding6 333 million 335 million

1. 2015 results exclude TopBuild.2. Based on 2016 business plans. 3. 2015 tax rate is impacted by a $21 million valuation allowance resulting from our decision to spin off TopBuild, and a $19 million charge to recognize the

required taxes on substantially all undistributed foreign earnings except those that are legally restricted. 4. Excludes rationalization expenses of $4 million for the year ended December 31, 2015.5. 2016 and 2015 share repurchases include approximately 1.0 million and 741,000 shares, respectively, that were repurchased to offset grants of long-term

stock awards.6. Reflects weighted average diluted shares outstanding for the first quarter 2016 and assumes no further share repurchases in 2016.

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2016 Guidance Estimates

2015 Segment Mix*

R&R = % of sales to repair and remodel channelsNC = % of sales to new construction channels NA = % of sales within North AmericaInt’l = % of sales outside North America

* Based on Company estimates; excludes TopBuild.

Business Segment

PlumbingProducts

DecorativeArchitecturalProducts

$3.3B

$2.0B

Revenue 2015 % of Total

47%

28%

$ 7.1B 100%Total Company

Windows and Other Specialty Products

$0.8B 11%

R&R% vs. NC NA% vs. Int’l

83% 63%

99% 100%

70% 76%

83% 79%

Cabinetry Products $1.0B 14% 57% 92%

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2015 International Revenue Split*

*Based on Company estimates; excludes TopBuild.

International Sales Accounted for ~21% of Total 2015 Masco SalesInternational Sales Accounted for ~21% of Total 2015 Masco Sales

29%

5%

8%

26%

5%

17%

10%

UKNorthern EuropeSouthern EuropeCentral EuropeEastern EuropeEmerging marketsOther

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Appendix – Net Sales and Profit Reconciliations

Last Twelve Months Ended

March 31,Year Ended December 31,

($ in Millions) 2016 2015 2014 2013 2012

Operating Profit, as reported $ 983 $ 914 $ 721 $ 612 $ 384 Rationalization charges 15 18 64 47 74 (Income) charge for litigation settlements - - (9) - 1 (Gain) from sales of fixed assets, net (5) (5) - - (8)Impairment of goodwill and other intangible assets - - - - 42 Windows and Other Specialty Products - warranty - - - - 12

Operating Profit, as adjusted 993 927 776 659 505 Depreciation and amortization 128 127 141 157 173

EBITDA, as adjusted $ 1,121 $ 1,054 $ 917 $ 816 $ 678

($ in Millions) 2014Net Sales Net sales, as reported $ 7,006

Currency adjustment (204) Net sales, as reported and FX modified $ 6,802

Operating ProfitOperating Profit, as adjusted $ 776

Currency adjustment (36)Operating Profit, as adjusted and FX modified $ 740

Appendix – EPS Reconciliation

(in millions, except per common share data)

Year Ended December 31, ($ in Millions) 2015 2014 2012

Earnings Per Common Share Income from continuing operations

before income taxes, as reported $ 689 $ 507 $ 155 Rationalization charges 18 64 74 Impairment of goodwill and other intangible assets - - 42 (Income) charge for litigation settlements - (9) 1 (Gain) from sale of fixed assets, net (5) - (8)(Gain) from financial investments, net (6) (4) (22)(Earnings) losses from equity investments, net (2) 2 -Windows and Other Specialty Products – warranty - - 12 Interest carry costs - - 7

Income from continuing operationsbefore income taxes, as adjusted 694 560 261

Tax at 36% rate (250) (202) (94)

Less: Net income attributable to noncontrolling interest 39 47 35

Income from continuing operations, as adjusted $ 405 $ 311 $ 132

Income per common share, as adjusted $ 1.19 $ 0.88 $ 0.38

Average diluted common shares outstanding 341 352 349