Masco Corporation reported strong results for the second quarter of 2015, with total revenue increasing 3% year-over-year to $1.929 billion. All business segments saw revenue growth when excluding the effects of foreign currency translation. Operational improvements led to a 22% increase in operating profit to $280 million and operating margins expanded 230 basis points to 14.5%. Management remains focused on driving performance across all segments through new product introductions, improving efficiencies, and executing strategic initiatives.

1. Second Quarter
Earnings Presentation
MASCO CORPORATION
July 28, 2015

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, 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.
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3. Masco Q2 2015 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
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4. Q 2 2 0 1 5 I N R E V I E W
Strong Operating Leverage and Execution Drive Outperformance
● Strong growth across all segments in local currency
● Operational leverage drives profit growth
● Cabinetry turnaround accelerated
● Repurchased ~3.8 million shares
● Completed spin-off of TopBuild Corp.
4
Driving
Performance

5. Masco Q2 2015 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
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6. Strong Performance from all Segments
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*See Appendix for GAAP reconciliation.
Quarter Highlights
• Total company sales increased 7% excluding the effects of foreign currency
translation
• North American sales increased 7%; International sales increased 5% in local
currency
• FX negatively impacted sales by $77 million and profit by $19 million
($ in Millions)
Second Quarter
2015
Revenue
Y-O-Y Change
$1,929
3%
Operating Profit*
Y-O-Y Change
$280
22%
Operating Margin*
Y-O-Y Change
14.5%
230 bps
Adjusted EPS*
Y-O-Y Change
$0.38
36%

7. P L U M B I N G P R O D U C T S
7
Wholesale/Trade and Retail Continues to Drive Growth
($ in Millions)
Second Quarter
2015
Revenue
Y-O-Y Change
$846
0%
Operating Profit
Y-O-Y Change
$138
(1%)
Operating Margin
Y-O-Y Change
16.3%
(10 bps)
Quarter Highlights
• North American sales increased 8%; International sales increased 4% in local
currency
• FX negatively impacted sales by approximately $63 million and profit by $12
million
• Wholesale/trade and retail channels continue strong performance

8. 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
New Products & Pro Paint Drive Sales Growth
($ in Millions)
Second Quarter
2015
Revenue
Y-O-Y Change
$622
4%
Operating Profit
Y-O-Y Change
$133
18%
Operating Margin
Y-O-Y Change
21.4%
240 bps
Quarter Highlights
• Sales increased 6% excluding the effects of foreign currency translation
• New Behr Marquee® drives core sales growth
• Behr Pro® initiative continues to gain momentum
• Margins enhanced by the timing of promotional spend from Q2 to Q3

9. C A B I N E T S A N D R E L AT E D P R O D U C T S
9
Business Turnaround Accelerating
($ in Millions)
Second Quarter
2015
Revenue
Y-O-Y Change
$269
6%
Operating Profit
Y-O-Y Change
$15
N/M
Operating Margin
Y-O-Y Change
5.6%
880 bps
Quarter Highlights
• Home center sales drive top-line growth
• KraftMaid® dealer channel sales increased mid-single digits
• Improved operating efficiencies driving margin expansion

10. O T H E R S P E C I A LT Y P R O D U C T S
10
Growth and Positive Mix Drive Performance
($ in Millions)
Second Quarter
2015
Revenue
Y-O-Y Change
$192
8%
Operating Profit*
Y-O-Y Change
$21
40%
Operating Margin*
Y-O-Y Change
10.9%
250 bps
Quarter Highlights
• Sales increased 10% excluding the effects of foreign currency translation
• Strong performance across all channels and geographies in North American
windows
• Completed acquisition of U.K.-based Evolution Manufacturing
*Excludes business rationalization charges for the second quarter 2014 of $1 million.

11. Strong Balance Sheet and Disciplined Capital Allocation
Liquidity as of 6/30/2015
Cash and cash investments $1.3B
Short-term bank deposits $0.2B
Total $1.5B
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Q2 2015 Accomplishments
• Repurchased approximately 3.8 million shares
• Board of Directors intends to increase annual dividend by $.02 per
share beginning with the dividend to be paid in Q4 2015

12. Masco Q2 2015 Results
Topic
• Summary of Results Keith Allman
• Financial/Operations Review John Sznewajs
• Q&A
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13. Q&A

14. Appendix

15. Appendix – Profit Reconciliation – Second Quarter
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($ in Millions) Q2 2015 Q2 2014
Net Sales $ 1,929 $ 1,876
Gross Profit – As Reported $ 637 $ 575
Rationalization charges - -
Gross Profit – As Adjusted $ 637 $ 575
Gross Margin - As Reported 33.0% 30.7%
Gross Margin - As Adjusted 33.0% 30.7%
Operating Profit – As Reported $ 279 $ 221
Rationalization charges 1 8
Operating Profit – As Adjusted $ 280 $ 229
Operating Margin - As Reported 14.5% 11.8%
Operating Margin - As Adjusted 14.5% 12.2%

16. Appendix – EPS Reconciliation – Second Quarter
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(in Millions, Except per Common Share Data) Q2 2015 Q2 2014
Income from Continuing Operations before Income Taxes – As Reported $ 221 $ 171
Rationalization charges 1 8
Gains from financial investments, net (2) (3)
Earnings from equity investments, net (2) -
Income from Continuing Operations before Income Taxes – As Adjusted $ 218 $ 176
Tax at 36% rate (78) (63)
Less: Net income attributable to noncontrolling interest 10 13
Income from Continuing Operations, as adjusted $ 130 $ 100
Income per common share, as adjusted $ 0.38 $ 0.28
Average Diluted Shares Outstanding 344 352

17. ($ in Millions) 2015 Estimate1 2014 Actual1
Rationalization Charges2, 3 ~ $7 $64
Tax Rate4 ~ 40% 34%
Interest Expense5 ~ $230 $225
General Corp. Expense6 ~ $100 $119
Capital Expenditures ~ $160 $115
Depreciation &
Amortization3
~ $130 $141
Shares Repurchased7 $400-500 $158
Shares Outstanding8 344 million 352 million
2015 Guidance Estimates
1. Guidance and 2014 results exclude TopBuild.
2. Based on 2015 business plans.
3. Includes accelerated depreciation of $1 million for the year ended December 31, 2014. Such expense is also included in the rationalization charges.
4. 2015 tax rate is impacted by an $18 million valuation allowance as a result of our decision to spin off TopBuild. 2014 tax rate excludes the $529 million
release of the valuation allowance.
5. Reflects ~$5 million of incremental interest expense due to the March 2015 pre-funding of our June 2015 debt maturity.
6. Excludes rationalization expenses of $27 million for the year ended December 31, 2014 and $4 million (estimated) for the year ended December 31, 2015.
7. 2015 and 2014 share repurchases include approximately 720,000 and 1.7 million shares, respectively, to offset grants of long-term stock awards.
8. Reflects weighted average shares outstanding as of June 30, 2015 and assumes no further share repurchases in 2015.
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18. 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; excludes TopBuild Corp.
Business Segment
Plumbing
Products
Decorative
Architectural
Products
$3.3B
$2.0B
Revenue 2014 % of Total
47%
29%
$ 7.0B 100%Total Company
Other Specialty
Products
$0.7B 10%
R&R% vs. NC NA% vs. Int’l
82% 59%
99% 100%
74% 74%
82% 77%
Cabinets and
Related Products
$1.0B 14% 55% 91%
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19. 2014 International Revenue Split*
*Based on Company estimates; excludes TopBuild Corp.
International Sales Accounted for ~23%
of Total 2014 Masco Sales
28%
5%
10%
25%
9%
14%
9%
UK
Northern Europe
Southern Europe
Central Europe
Eastern Europe
Emerging markets
Other
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