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T H I R D Q U A R T E R 2 0 2 6 E A R N I N G S P R E S E N T A T I O N O c t o b e r 2 8 , 2 0 2 6
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2 Safe Harbor Statement This presentation contains statements that reflect our views about our future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “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 residential repair and remodel activity, and to a lesser extent, new home construction, our ability to maintain our strong brands, to develop innovative products and respond to changing consumer purchasing practices and preferences, our ability to maintain our public image and reputation, our ability to maintain our competitive position in our industries, our reliance on key customers, the cost and availability of materials, our dependence on suppliers and service providers, extreme weather events and changes in climate, risks associated with our international operations and global strategies, the impact on demand, pricing and product costs resulting from tariffs, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have acquired and may in the future acquire, our ability to attract, develop and retain a talented workforce, risks associated with cybersecurity vulnerabilities, threats and attacks and risks associated with our reliance on information systems and technology. 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. Any forward-looking statement made by us speaks only as of the date on which it was made. 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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F I N A N C I A L / O P E R A T I O N S R E V I E W Agenda Q & A S U M M A R Y O F R E S U L T S Jon Nudi President & CEO Rick Westenberg VP, CFO & Treasurer Jon Nudi & Rick Westenberg
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4 Summary of Results J O N N U D I
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5 Strengthening capabilities, partnerships and brands to drive long-term growth Advancing Our Strategy STRENGTHENING CAPABILITIES DEEPENING PARTNERSHIPS EXTENDING BRAND LEADERSHIP Yaron Ben David Chief Technology & AI Officer Brad Hiranaga Chief Marketing Officer Executive Committee New Members The Home Depot® 2026 Supplier Partnership Meeting Awards Delta Brand Distinctions Interconnected Partner of the Year Marketing Partner of the Year
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6For adjusted numbers, see Appendix for GAAP reconciliation. Q3 2026 Review Top line increased 3%, or 4% excluding the impacts of our Bristan divestiture and unfavorable currency Grew adjusted gross margin 250 bps to 37.1% Expanded adjusted operating profit margin 160 bps to 17.9% Achieved adjusted EPS growth of 23% to $1.19 per share Increased anticipated full year adjusted EPS to $4.65 to $4.75 per share, up from $4.40 to $4.60 per share Returned $322 million to shareholders through dividends and share repurchases
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7 Financial / Operations Review R I C K W E S T E N B E R G
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8 *As adjusted, see Appendix for GAAP reconciliation. ($ in Millions, except EPS) Q3 2026 Revenue Y-O-Y Change $1,966 3% Operating Profit* Y-O-Y Change $351 $39 Operating Margin* Y-O-Y Change 17.9% 160 bps EPS* Y-O-Y Change $1.19 23% Masco Corporation Quarter Highlights • Total company sales increased 3%, or 4% excluding the impacts of our divestiture and unfavorable currency • In local currency, North American sales increased 5% • In local currency, International sales decreased 5%, or 1% excluding the impact of our divestiture • Operating profit growth driven by pricing actions, cost savings initiatives and lower year-over-year tariff costs, partially offset by higher commodity and employee- related costs
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9 • Total segment sales increased 4%, or 5% excluding the impacts of our divestiture and unfavorable currency • In local currency, North American sales increased 8% • In local currency, International sales decreased 5%, or 1% excluding the impact of our divestiture • Operating profit growth driven by pricing actions, cost savings initiatives and lower year-over-year tariff costs, partially offset by higher commodity and employee-related costs * As adjusted and excludes business rationalization charges for the third quarter of 2026 and 2025 of $12 million and $8 million, respectively. ($ in Millions) Q3 2026 Revenue Y-O-Y Change $1,338 4% Operating Profit* Y-O-Y Change $256 $51 Operating Margin* Y-O-Y Change 19.1% 320 bps Plumbing Products Segment Quarter Highlights
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10 Decorative Architectural Products Segment Quarter Highlights • Total segment sales were flat compared to the prior year • PRO paint increased mid single digits • DIY paint decreased low single digits • Operating profit driven by higher commodity costs and lower volume, mostly offset by pricing and cost savings initiatives ($ in Millions) Q3 2026 Revenue YoY Change $628 —% Operating Profit* YoY Change $126 $(1) Operating Margin* YoY Change 20.1% (20) bps * As adjusted and excludes business rationalization charges for the third quarter of 2026 of $1 million.
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11 Balance Sheet Metrics as of September 30, 2026 Cash and cash investments $610M Revolver availability $1,000M Total liquidity $1,610M Gross debt to EBITDA1 2.1x Working capital as a % of sales1 18.8% Strong Balance Sheet Masco Corporation 1. See Appendix for reconciliation.
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12 12 12 Full Year 2026 Outlook 2026 Forecasted Adjusted EPS: $4.65 - $4.75 Business Segment 2026 Forecasted Sales Change 2026 Forecasted Adjusted Operating Profit Margin Plumbing Products Up Low Single Digits (higher end of the range) ~20% Decorative Architectural Products Roughly Flat ~19.5% Total Masco Up Low Single Digits 18.0% - 18.5%
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13 Q&A J O N N U D I R I C K W E S T E N B E R G
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14 Appendix
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15 2026 Assumptions 1. Plumbing Products segment ~$120m; Decorative Architectural Products segment ~$30m; Non-operating ~$5m. 2. Based on rates as of September 30, 2026. Item Assumption Tax rate 24.5% Rationalization charges ~$50M General corporate expense ~$120M Interest and other expense ~$115M Capital expenditures (includes maintenance capex of ~$75M) ~$175M Depreciation and amortization1 ~$155M Favorable foreign currency translation impact to sales2 ~$35M Share repurchase or acquisitions ~$1B Average diluted share count for 2026 ~198M Working capital as a % of net sales ~16.5% Free cash flow conversion ~95%
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16 16 Capital Allocation Strategy Balanced Approach to Continue to Drive Shareholder Value Reinvest in the Business Maintain Investment Grade Credit Rating Maintain Relevant Dividend Deploy Excess Free Cash Flow to Share Repurchase or Acquisitions 1 2 3 4 • Capex: 2-2.5% of sales • Target working capital: ~16.5% of sales • Target gross debt to EBITDA below 2.5x • Current annual dividend of $1.28 • Target dividend payout ratio of ~30% • Consistently in the market for share repurchases, but opportunistic • Expect to deploy ~$1 billion for share repurchases or acquisitions in 2026 • Actively cultivating our M&A pipeline
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17 Business Segment 2025 Revenue R&R%1 vs. NC2 NA%3 vs. Int’l4 Plumbing Products $5.2B Decorative Architectural Products $2.4B 100% Total Company $7.6B 2025 Segment Mix* 1. R&R = % of sales to repair and remodel channels 2. NC = % of sales to new construction channels 3. NA = % of sales within North America 4. Int’l = % of sales outside North America *Based on Company estimates and reflects the integration of Liberty Hardware into Delta Faucet Company, with Liberty’s results now being reported in the Plumbing Products Segment. North America Europe United Kingdom Total Company Geographic Revenue Split 13% 3% 79% 3% 2% China Other 69% 100% 79% 84% 100% 89% 16% 31% 11% 21%
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18 2025 Channel Mix* as a Percentage of Sales *Based on Company estimates and reflects the integration of Liberty Hardware into Delta Faucet Company, with Liberty’s results now being reported in the Plumbing Products Segment. Channel Plumbing Products Decorative Architectural Products Total Masco Retail 20% 96% 45% Wholesale/trade/dealers 49% 3% 34% E-commerce 20% 1% 13% Specialty dealers/other 11% 0% 8%
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19 Non-GAAP Financial Measures This presentation contains both U.S. generally accepted accounted principles (“GAAP”) and certain non-GAAP financial measures. R e c o n c i l i a t i o n s o f t h e s e n o n ‑ G A A P m e a s u r e s t o t h e m o s t d i r e c t l y c o m p a r a b l e G A A P m e a s u r e s a r e i n c l u d e d i n t h e f o l l o w i n g s l i d e s . We believe that certain non-GAAP financial measures used in managing the business may provide users of this financial information with additional meaningful comparisons between current results and results in prior periods. These non-GAAP financial measures should be considered in addition to, and not as an alternative for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.
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20 Profit Reconciliations – Third Quarter Amounts may not add due to rounding. ($ in Millions) Q3 2026 Q3 2025 Net sales $ 1,966 $ 1,917 Gross profit, as reported $ 720 $ 656 Rationalization charges 10 7 Gross profit, as adjusted $ 730 $ 663 Gross margin, as reported 36.6 % 34.2 % Gross margin, as adjusted 37.1 % 34.6 % Selling, general and administrative expenses, as reported $ 381 $ 353 Rationalization charges 3 2 Selling, general and administrative expenses, as adjusted $ 378 $ 352 Selling, general and administrative expenses as a percent of net sales, as reported 19.4 % 18.4 % Selling, general and administrative expenses as a percent of net sales, as adjusted 19.2 % 18.4 % Operating profit, as reported $ 338 $ 303 Rationalization charges 13 8 Operating profit, as adjusted $ 351 $ 312 Operating margin, as reported 17.2 % 15.8 % Operating margin, as adjusted 17.9 % 16.3 %
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21 EPS Reconciliation – Third Quarter Amounts may not add due to rounding. ($ in Millions, Except per Common Share Data) Q3 2026 Q3 2025 Income before income taxes, as reported $ 322 $ 276 Rationalization charges 13 8 Gain on sale of business (1) (13) — Loss from financial investments, net 1 — Income before income taxes, as adjusted $ 323 $ 284 Tax at 24.5% rate (79) (70) Less: Net income attributable to noncontrolling interest 10 11 Net income, as adjusted $ 234 $ 204 Net income per common share, as adjusted $ 1.19 $ 0.97 Average diluted common shares outstanding 196 209 (1) Represents the gain from the sale of our Bristan Group business for the three months ended September 30, 2026.
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22 EPS Outlook Reconciliation 2026 Low End High End Net income per common share $ 4.51 $ 4.61 Rationalization charges 0.19 0.19 Gain on sale of business (1) (0.05) (0.05) Net income per common share, as adjusted $ 4.65 $ 4.75 (1) Represents the gain from the sale of our Bristan Group business. Amounts may not add due to rounding.
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23 Gross Debt to EBITDA Reconciliation ($ in Millions) September 30, 2026 Debt $ 3,247 ($ in Millions) TTM September 30, 2026 Operating profit, as reported $ 1,373 Rationalization charges 39 Impairment charge for other intangible assets 5 Operating profit, as adjusted $ 1,417 Depreciation and amortization 150 EBITDA, as adjusted $ 1,567 Debt to EBITDA 2.1 x Amounts may not add due to rounding.
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24 Working Capital as a % of Sales As Reported ($ in Millions) September 30, 2026 Receivables $ 1,254 Inventories 1,050 Less: Accounts payable (860) Working capital $ 1,444 Net sales (last 12 months) $ 7,668 Working capital as a % of sales 18.8 % Amounts may not add due to rounding.
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T H A N K Y O U