June 03 Presentation

1. Deutsche Bank Global Industrials and
Basic Materials Conference
Masco Corporation

2. 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. 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, uncertainty in the international economy, shifts in consumer
preferences and purchasing practices, our ability to improve our underperforming businesses, our ability to maintain our
competitive position in our industries, risks associated with the proposed spin-off of our Services Business, our ability to
realize the expected benefits of the spin-off, the timing and terms of our share repurchase program, and our ability to
reduce corporate expense and simplify our organizational structure. We discuss many of the risks we face 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. 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.
The Company believes that the non-GAAP performance measures and ratios that are contained herein, used in
managing the business, may provide users of this financial information 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 Securities and
Exchange Commission and is available on Masco's website at www.masco.com.
2

3. K E Y M E S S A G E S T O D A Y
The New Masco: Transformation, Focus, Results
3
A Transforming
Business
Delivering
Strengthened
Performance
Clear Strategic
Focus

4. Organization
Operational Excellence
Portfolio and Capital
Allocation
A Transforming Business
 Formed a new management team
 Implemented talent framework
 Instituted a center led business model
 Restructured HQ
 Made key business unit management
changes
 Increased dividend
 Authorized share buy back of 50
million shares
 Announced spin off of TopBuild
 Reduced costs and increased efficiencies
 Standardized planning processes
 Prioritized capability building
 Drove cost improvement culture
Transformational Initiatives
4

5. Revenue Breakdown – R&R vs. New Home Construction*
Revenue Breakdown – International vs. North America*
R E S U L T S
Creating a Less Cyclical Business
5
N. America
81%
Int’l
19%
R&R
71%
New home
29%
N. America
77%
Int’l
23%
R&R
82%
New home
18%
Post-Spin
More Global Diversification
Less Cyclicality
Post-Spin
Pre-Spin
Pre-Spin
*Based on 2014 revenue and company estimates. See appendix for GAAP reconciliation

6. K E Y M E S S A G E S T O D A Y
The New Masco: Transformation, Focus, Results
6
A Transforming
Business
Delivering
Strengthened
Performance
Clear Strategic
Focus

7. Drive full potential of our
core businesses
Clear Strategic Focus
7
Leverage opportunities across
our portfolio
Actively manage portfolio
Drive full potential of our
core businesses

8. S T R A T E G I C F O C U S # 1 D R I V E F U L L P O T E N T I A L O F O U R C O R E B U S I N E S S
Leverage Our Brands
8
Masco Cabinetry
(cabinet manufacturer
in U.S.)
Delta®
(faucet brand
in North America)
Behr®
(DIY architectural
coatings in
North America)
Milgard®
(vinyl window
brand in
Western U.S.)
Hansgrohe®
(global faucet
and mixer brand)
Arrow®, Liberty®,
BrassCraft® and
Watkins®
(in their respective
categories)
#2
#1
#1 #1
#1
#2

9. S T R A T E G I C F O C U S # 1 D R I V E F U L L P O T E N T I A L O F O U R C O R E B U S I N E S S
Lead in Innovation
9
30%*
Examples of New Products / Technologies
Existing
Products
201420132012
70%
Hansgrohe SelectTM
Collection
KraftMaid® New
Design Launch
2014 Revenues
Delta® Toilets
Paint & Primer
in One
KraftMaid®
Vanities
Behr DeckOver®
Coating
KraftMaid®
VantageTM
Cabinetry
Behr Marquee®
Coating
Delta Temp2OTM
Showerhead
2015
Hansgrohe®
Rain XLTM
Showerhead
Behr Textured
DeckOver™
Coating
Axor® Starck V
Collection
*Based on company estimates

10. 10
S T R A T E G I C F O C U S # 1 D R I V E F U L L P O T E N T I A L O F O U R C O R E B U S I N E S S
Drive Operational Excellence
Aligned
on Key
Financial
Metrics
Capitalize on
our Strong
Operating
Leverage
Strong
Management
Team
Culture of
Accountability

11. Clear Strategic Focus
11
Drive full potential of our
core businesses
Leverage opportunities across
our portfolio
Actively manage portfolio
Leverage opportunities across
our portfolio

12. S T R A T E G I C F O C U S # 2 L E V E R A G E A C R O S S O U R P O R T F O L I O
Leverage Opportunities Across Our Portfolio
12
• Talent • Purchasing • Innovation • Sales • Brands

13. Actively manage portfolioActively manage portfolio
Clear Strategic Focus
13
Drive full potential of our
core businesses
Leverage opportunities across
our portfolio

14. • Financially attractive
• Differentiated / leadership position
• Aligned with other Masco businesses
• Attractive end markets*
• Accelerate organic strategies
• Meet financial hurdles
14
S T R A T E G I C F O C U S # 3 A C T I V E L Y M A N A G E P O R T F O L I O
Disciplined Portfolio Management
*Repair and Remodel, Global Segments, Low Cyclicality, Brand and Innovation Drive Value
Driving
Value
Creation
Portfolio Refinements
Strategic Acquisitions
+

15. K E Y M E S S A G E S T O D A Y
The New Masco: Transformation, Focus, Results
15
A Transforming
Business
Delivering
Strengthened
Performance
Clear Strategic
Focus

16. Delivering Strengthened Performance:
Consistent Profitability
16
$7.5
$8.2
$8.5
2012 2013 2014
Revenues
($B)
$500
$721
$851
2012 2013 2014
$0.37
$0.77
$1.02
2012 2013 2014
EPS*
($)
Operating Profit*
($M)
6.5%
CAGR
30%
CAGR
66%
CAGR
*Operating Profit as adjusted, excluding intangible assets, litigation, rationalization and other charges ($198M in 2012, $48M in 2013 and $63M in 2014). Operating profit as reported was $302M in
2012, $673M in 2013 and $788M in 2014. EPS as reported was ($0.16) in 2012, $0.83 in 2013 and $2.39 in 2014.

17. 17
ROICWACC
ROIC exceeded WACC by 160 bps in 2014
H I G H P E R F O R M A N C E
Delivering Strengthened Performance: Solid Returns
3.8%
5.8%
9.2%
10.6%
0%
2%
4%
6%
8%
10%
12%
2011 2012 2013 2014

18. Clear Strategies and Future Outlook
Decorative
Architectural
Products
Segment
Cabinets
and
Related
Products
Segment
Other
Specialty
Products
Segment
Plumbing
Products
Segment
1.Extend Milgard’s leadership position in Western U.S.
2.Pursue geographic expansion with Milgard
3.Extend UK Window Group’s leadership position
Sales Growth:
9-11% CAGR
Operating Margins:
~10-13%
1.Extend leadership in N. American plumbing
2.Pursue category expansion
3.Growth in priority international markets, both organically and
inorganically
1.Extend our Consumer leadership position
2.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%
2015 Goal
EBIT target
$10M
1.Profitably recover KraftMaid and Merillat share
2.Execute Builder Direct turnaround
3.Achieve margin improvement targets

19. 19Note: Future performance reflects company estimates and excludes the Installation Segment.
7%
CAGR
15%
CAGR
26%
CAGR
Revenue*
($B)
Operating Profit*
($B)
EPS*
($)
$6.8
$8.3
2014 2017
$0.91
$1.80
2014 2017
$0.75
$1.15
2014 2017
*2014 revenue and operating profit uses a $1.10 Euro to USD foreign exchange rate . See appendix for GAAP reconciliation
Delivering Strengthened Performance:
Profitable Growth

20. Delivering Strengthened Performance: Strong FCF
20
Invest in the business
Pay down debt
Bolt on acquisitions
Return Capital to
Shareholders
Disciplined
capital
deployment of
~$2B
FCF
2015 - 2017

21. +
+
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
21
Positioned to
Outperform

22. Questions and Answers

23. Appendix

24. 24
($ in Millions) 2014
Net Sales
Net sales, as reported $ 8,521
Installation and Other Services 1,515
Net sales, as adjusted $ 7,006
Currency adjustment 204
Net sales, as adjusted and FX modified $ 6,802
Operating Profit
Operating Profit, as reported $ 788
Installation and Other Services (58)
Rationalization charges 64
(Income) charge for litigation settlements (9)
Costs related to spin-off of Services Business 6
Operating Profit, as adjusted $ 791
Currency adjustment (36)
Operating Profit, as adjusted and FX modified $ 755
NOTE: Financial results exclude Installation and Other Services businesses. Subsequent to the spin-off transaction, Masco will account for
the Installation and Other Services businesses as a discontinued operation and restate its financial statements. Actual restatements may
vary from amounts shown herein.
2014 Reconciliations – Sales and Operating Profit

25. 25
NOTE: Financial results exclude Installation and Other Services businesses. Subsequent to the spin-off transaction, Masco will account for
the Installation and Other Services businesses as a discontinued operation and restate its financial statements. Actual restatements may
vary from amounts shown herein.
(in millions, except per common share data) 2014
Earnings Per Common Share
Income from continuing operations
before income taxes, as reported $ 575
Installation and Other Services (58)
Rationalization charges 64
Costs related to spin-off of Services Business 6
(Income) charge for litigation settlements (9)
(Gain) from financial investments, net (4)
Loss from equity investments, net 2
Income from continuing operations
before income taxes, as adjusted 576
Tax at 36% rate (207)
Less: Net income attributable to noncontrolling interest 47
Income from continuing operations, as adjusted $ 322
Income per common share, as adjusted $ 0.91
Average diluted common shares outstanding 352
2014 Reconciliations – EPS

26. ($ in Millions) 2015 Estimate 2014 Actual
Rationalization Charges1, 3 ~ $34 $72
Tax Rate4 ~ 36% 34%
Interest Expense7 ~ $230 $225
General Corp. Expense2 ~ $100 $103
Capital Expenditures ~ $190 $128
Depreciation &
Amortization3
~ $154 $167
Shares Repurchased5 $400-500 $158
Shares Outstanding6 347 million 352 million
1. Based on 2015 business plans. 2015 includes approximately $26 million related to spin-off transaction costs.
2. Excludes rationalization expenses of $33 million for the year ended December 31, 2014 and $17 million (estimated) for the year ended December 31, 2015.
3. Includes accelerated depreciation of $1 million for the year ended December 31, 2014. Such expenses are also included in the rationalization charges.
4. Excludes $529 million release of the valuation allowance in 2014.
5. 2015 and 2014 share repurchases include approximately 675 thousand and 1.7 million shares, respectively, to offset grants of long-term stock awards.
6. Reflects shares outstanding as of March 31, 2015 and assumes no further share repurchases in 2015.
7. Reflects ~$5 million of incremental interest expense due to the March 2015 pre-funding of our June 2015 debt maturity.
26
2015 Guidance Estimates

27. 2014 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
Installation and
Other Services
Decorative
Architectural
Products
$3.3B
$1.5B
$2.0B
Revenue 2014 % of Total
39%
23%
18%
$8.5B 100%Total Company
Other Specialty
Products $0.7B 8%
R&R% vs. NC NA% vs. Int’l
82% 59%
99% 100%
18% 100%
74% 74%
71% 81%
Cabinets and
Related Products $1.0B 12% 55% 91%
27

28. 2014 International Revenue Split*
*Based on Company estimates.
International Sales Accounted for ~19%
of Total 2014 Masco Sales
28%
5%
10%
25%
9%
14%
9%
UK
Northern Europe
Southern Europe
Central Europe
Eastern Europe
Emerging markets
Other
28