Slide 1: Second Quarter 2025 Earnings Presentation
Second Quarter 2025 Earnings Presentation July 31, 2025
Slide 2: Safe Harbor Statement
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,”
Slide 3: Agenda
Agenda 1 Summary of Results Jon Nudi 2 Financial / Operations Review Rick Westenberg 3 Q&A Jon Nudi Rick Westenberg 3
Slide 4: Summary of Results
1 Summary of Results Jon Nudi 4
Slide 5: Q2 2025 Product Recognitions
Q2 2025 Product Recognitions Delta ClarifiTM hansgrohe Reverse Osmosis System Raindance Alive Showerhead ChatHUETM 5
Slide 6: Q2 2025 Review
Q2 2025 Review Top line decreased 2%, but in line with prior year excluding the impacts of our divestiture and currency Improved adjusted gross margin 10 basis points to 37.7% Expanded adjusted operating profit margin 100 bps to 20.1% Delivered adjusted EPS growth of 8% to $1.30 per share Repurchase
Slide 7: Financial / Operations Review
2 Financial / Operations Review Rick Westenberg 7
Slide 8: Masco Corporation Quarter Highlights
Masco Corporation Second Quarter Quarter Highlights ($ in Millions) 2025 • Total company sales decreased 2%, but were in line with prior year excluding the Revenue $2,051 impacts of our divestiture and currency Y-O-Y Change (2)% • In local currency, North American sales Operating Profit* $413 decrea
Slide 9: Plumbing Products Segment
Plumbing Products Segment Quarter Highlights Second Quarter ($ in Millions) 2025 • Total segment sales increased 5%, or increased 4% excluding currency Revenue $1,312 Y-O-Y Change 5% • In local currency, North American sales increased 5% Operating Profit* $276 • In local currency, International sale
Slide 10: Decorative Architectural Products Segment
Decorative Architectural Products Segment Quarter Highlights Second Quarter ($ in Millions) 2025 • Total segment sales decreased 12%, or 4% excluding our divestiture Revenue $738 Y-O-Y Change (12)% • Paints & other coating products sales decreased mid-single digits Operating Profit $157 • PRO paint
Slide 11: Strong Balance Sheet
Strong Balance Sheet Masco Corporation Balance Sheet Metrics as of 6/30/2025 Cash and cash investments $390M Revolver availability $954M Total liquidity $1,344M Gross debt to EBITDA1 2.0x Working capital as a % of sales1 20.1% 1. See Appendix for reconciliation. 11
Slide 12: Full Year 2025 Outlook
Full Year 2025 Outlook 2025 Forecasted Adjusted EPS $3.90 - $4.10 Assumptions: • 2025 guidance includes all enacted tariffs in effect in July, net of mitigation actions, but does not include potential future tariffs or changes to existing tariffs • Global repair and remodel market (including price):
Slide 13: Q&A
3 Q&A Jon Nudi Rick Westenberg 13
Slide 14: Appendix
as O Cc o or or << MASCO
Slide 15: 2025 Assumptions
2025 Assumptions Item Assumption Tax rate 24.5% General corporate expense ~$95m Interest and other expense ~$110m Capital expenditures ~$175m (includes maintenance capex of ~$75m) Depreciation and amortization1 ~$150m Favorable foreign currency translation impact to sales2 ~$50m Share repurchase or
Slide 16: Capital Allocation Strategy
Capital Allocation Strategy Balanced Approach to Continue to Drive Shareholder Value • Capex: 2-2.5% of sales 1 Reinvest in the Business • Target working capital: ~16% of sales 2 Maintain investment grade credit rating • Target gross debt to EBITDA below 2.5x 3 Maintain relevant dividend • • Current
Slide 17: Long-Term Outlook
Low ticket, repair and remodel products provide LONG-TERM OUTLOOK growth and stability through Average annual sales growth an economic cycle • Organic: ~3-5% • Acquisition: ~1-3% Market-leading brands, Operating profit margin history of innovation, • Expand margins through cost productivity and volu
Slide 18: 2024 Segment Mix
2024 Segment Mix* Total Geographic Business Segment 2024 Revenue R&R% vs. NC NA% v. Int’l Revenue Split Plumbing Products $4.9B 83% 68% Decorative Architectural $3.0B 97% 100% Products Total Company $7.8B 88% 80% R&R = % of sales to repair NA = % of sales within and remodel channels North America NC
Slide 19: 2024 Channel Mix
2024 Channel Mix* 2024 Channel Mix as a Percentage of Sales Plumbing Decorative Architectural Total Channel Products Products Masco Retail 19% 88% 46% Wholesale/trade/dealer 52% 8% 35% E-commerce 18% 4% 12% Specialty Dealer/Other 11% 0% 7% *Based on Company estimates 19
Slide 20: Profit Reconciliations – Second Quarter
Profit Reconciliations – Second Quarter ($ in Millions) Q2 2025 Q2 2024 Net sales $ 2,051 $ 2,091 Gross profit, as reported $ 772 $ 785 Rationalization charges 1 1 Gross profit, as adjusted $ 774 $ 786 Gross margin, as reported 37.6 % 37.5 % Gross margin, as adjusted 37.7 % 37.6 % Selling, general a
Slide 21: EPS Reconciliation – Second Quarter
EPS Reconciliation – Second Quarter ($ in Millions, Except per Common Share Data) Q2 2025 Q2 2024 Income before income taxes, as reported $ 378 $ 366 Rationalization charges 2 2 Income before income taxes, as adjusted $ 380 $ 368 Tax at 24.5% rate (93) (90) Less: Net income attributable to noncontro
Slide 22: EPS Outlook Reconciliation
EPS Outlook Reconciliation 2025 Low End High End Net income per common share $ 3.87 $ 4.07 Rationalization charges 0.01 0.01 Realized losses from private equity funds, net 0.02 0.02 Net income per common share, as adjusted $ 3.90 $ 4.10 Amounts may not add due to rounding. 22
Slide 23: Gross Debt to EBITDA Reconciliation
Gross Debt to EBITDA Reconciliation ($ in Millions) June 30, 2025 Debt $ 2,993 ($ in Millions) TTM June 30, 2025 Operating profit, as reported $ 1,345 Rationalization charges 8 Operating profit, as adjusted $ 1,352 Depreciation and amortization 145 EBITDA, as adjusted $ 1,497 Debt to EBITDA 2.0 x Am
Slide 24: Working Capital as a % of Sales
Working Capital as a % of Sales As Reported ($ in Millions) June 30, 2025 Receivables $ 1,318 Inventories 1,097 Less: Accounts payable (871) Working capital $ 1,544 Net sales (last 12 months) $ 7,663 Working capital as a % of sales 20.1 % Amounts may not add due to rounding. 24