Masco (MAS) 8-K Masco Outperforms In the Second Quarter 2015

Exhibit 99

MASCO OUTPERFORMS IN THE SECOND QUARTER 2015

Key Highlights

·Sales increased 3 percent to $1.9 billion and increased 7 percent excluding the effects of foreign currency translation

·North American sales increased 7 percent; International sales increased 5 percent in local currency

·Adjusted operating profit increased 22 percent to $280 million

·Adjusted EPS increased 36 percent to $.38 per common share

·Board announces intent to increase annual dividend by $0.02 per share to $0.38 beginning in the fourth quarter

·Tax free spin-off of TopBuild Corp. completed on June 30, 2015

·Masco received a $200 million cash distribution from TopBuild Corp. on June 30, 2015

TAYLOR, Mich. (July 28, 2015) — Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, reported net sales and operating profit growth in the second quarter of 2015. All segments contributed to a 14.5 percent adjusted operating profit margin, representing a 22 percent increase over prior year.

“Continued growth momentum, solid execution, and the timing of paint promotions enabled us to achieve earnings above our expectations for the quarter,” said Masco’s President and CEO Keith Allman. “Importantly, our Cabinets and Related Products segment accelerated the pace of its turnaround, resulting in better than expected top and bottom line results for that segment. In addition to our strong sales and profit growth, we returned nearly $270 million to shareholders through dividends and share repurchases in the first half of 2015.”

2015 Second Quarter Commentary

·Net sales from continuing operations increased 3 percent to $1.9 billion. North American sales increased 7 percent and international sales decreased 10 percent in U.S. dollars but increased 5 percent in local currency

·Compared to second quarter 2014, results for key financial measures, as adjusted for certain items (see Exhibit A) and with a normalized tax rate of 36 percent, were as follows:

·Gross margins improved to 33 percent compared to 30.7 percent

·Operating margins improved to 14.5 percent compared to 12.2 percent

·Income from continuing operations was $.38 per common share compared to $.28 per common share

·Income from continuing operations, as reported, was $.31 per common share

·Liquidity at the end of the second quarter was approximately $1.5 billion

·Approximately 3.8 million shares were repurchased in the second quarter

2015 Second Quarter Operating Segment Highlights

·Plumbing Products’ net sales were flat, but increased 7 percent excluding the effects of foreign currency translation, fueled by ongoing strength in the wholesale and retail channels

·Decorative Architectural Products’ net sales increased 4 percent, driven by new products and the pro paint initiative

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·Cabinets and Related Products’ net sales increased 6 percent, driven by KraftMaid® Cabinetry’s sales growth with home centers and dealers

·Other Specialty Products’ net sales increased 8 percent, led by Milgard Windows’ strong performance across all channels and geographies

Outlook

“Masco has delivered a strong first half of the year and we are proud of our focus and execution,” said Mr. Allman. “With the completion of the spin-off of TopBuild Corp., we begin a new chapter in Masco’s history focused on driving shareholder value through our portfolio of industry-leading branded building products, operational excellence and disciplined capital allocation. Our Cabinetry business has returned to profitability and we expect the momentum it has built over the first half of the year to continue. For the balance of 2015, we believe the underlying demand for our market-leading products will increase and that the repair and remodeling environment will continue to improve. We believe we are positioned to capitalize on these opportunities. Reflecting confidence in Masco’s future outlook, our Board of Directors intends to increase our annual dividend by $0.02 per share to $0.38 beginning with the quarterly dividend to be paid in the fourth quarter of 2015.”

About Masco

Headquartered in Taylor, Mich., Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; KraftMaid® and Merillat® cabinets; Milgard® windows and doors; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit masco.com.

The 2015 second quarter supplemental material, including a presentation in PDF format, is available on the Company’s website at www.masco.com.

Conference Call Details

A conference call regarding items contained in this release is scheduled for Tuesday, July 28, 2015 at 8:00 a.m. ET. Participants in the call are asked to register five to ten minutes prior to the scheduled start time by dialing (855) 226-2726 (855-22MASCO) and from outside the U.S. at (706) 679-3614. Please use the conference identification number 74579395. The conference call will be webcast simultaneously and in its entirety through the Company’s website. Shareholders, media representatives and others interested in Masco may participate in the webcast by registering through the Investor Relations section on the Company’s website.

A replay of the call will be available on Masco’s website or by phone by dialing (855) 859-2056 and from outside the U.S. at (404) 537-3406. Please use the conference identification number 74579395. The telephone replay will be available approximately two hours after the end of the call and continue through August 28, 2015.

Safe Harbor Statement

Statements contained in this press release 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

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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 the 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. The forward-looking statements in this press release speak only as of the date of this press release. 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.

Investor Contact

Irene Tasi

Director — Investor Relations

313.792.5500

irene_tasi@mascohq.com

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MASCO CORPORATION
Condensed Consolidated Statements of Operations - Unaudited
For the Three Months and Six Months Ended June 30, 2015 and 2014
	(in millions, except per common share data)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Net sales	$	1,929		$	1,876		$	3,588		$	3,506
Cost of sales	1,292			1,301			2,456			2,449
Gross profit	637			575			1,132			1,057
Selling, general and administrative expenses	358			354			688			683
Operating profit	279			221			444			374
Other income (expense), net	(58		)	(50		)	(113		)	(109		)
Income from continuing operations before income taxes	221			171			331			265
Income tax expense	102			34			142			38
Income from continuing operations	119			137			189			227
(Loss) gain from discontinued operations, net	(4		)	15			(1		)	11
Net income	115			152			188			238
Less: Net income attributable to noncontrolling interest	10			13			19			25
Net income attributable to Masco Corporation	$	105		$	139		$	169		$	213
Income per common share attributable to Masco Corporation (diluted):
Income from continuing operations	$	0.31		$	0.35		$	0.48		$	0.56
(Loss) gain from discontinued operations, net	(0.01		)	0.04			—			0.03
Net income	$	0.30		$	0.39		$	0.48		$	0.59
Average diluted common shares outstanding	344			352			346			353
Amounts attributable to Masco Corporation:
Income from continuing operations	$	109		$	124		$	170		$	202
(Loss) gain from discontinued operations, net	(4		)	15			(1		)	11
Net income attributable to Masco Corporation	$	105		$	139		$	169		$	213

Historical information is available on our website.

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MASCO CORPORATION
Exhibit A: Reconciliations - Unaudited
For the Three Months and Six Months Ended June 30, 2015 and 2014
	(in millions, except per common share data)

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2015			2014			2015			2014
Gross Profit and Operating Profit Reconciliations
Net sales	$	1,929		$	1,876		$	3,588		$	3,506
Gross profit, as reported	$	637		$	575		$	1,132		$	1,057
Rationalization charges	—			—			1			4
Gross profit, as adjusted	$	637		$	575		$	1,133		$	1,061
Gross margin, as reported	33.0		%	30.7		%	31.5		%	30.1		%
Gross margin, as adjusted	33.0		%	30.7		%	31.6		%	30.3		%
Operating profit, as reported	$	279		$	221		$	444		$	374
Rationalization charges	1			8			7			13
Operating profit, as adjusted	$	280		$	229		$	451		$	387
Operating margin, as reported	14.5		%	11.8		%	12.4		%	10.7		%
Operating margin, as adjusted	14.5		%	12.2		%	12.6		%	11.0		%
Earnings Per Common Share Reconciliation
Income from continuing operations before income taxes, as reported	$	221		$	171		$	331		$	265
Rationalization charges	1			8			7			13
Gains from financial investments, net	(2		)	(3		)	(4		)	(4		)
(Earnings) losses from equity investments, net	(2		)	—			(2		)	2
Income from continuing operations before income taxes, as adjusted	218			176			332			276
Tax at 36% rate	(78		)	(63		)	(120		)	(99		)
Less: Net income attributable to noncontrolling interest	10			13			19			25
Income from continuing operations, as adjusted	$	130		$	100		$	193		$	152
Income per common share, as adjusted	$	0.38		$	0.28		$	0.56		$	0.43
Average diluted common shares outstanding	344			352			346			353

Historical information is available on our website.

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MASCO CORPORATION
Condensed Consolidated Balance Sheets and
Other Financial Data - Unaudited
	(dollars in millions)

	June 30,		December 31,
	2015		2014
Balance Sheet
Assets
Current Assets:
Cash and cash investments	$	1,297	$	1,379
Short-term bank deposits	210		306
Receivables	1,105		820
Inventories	779		712
Deferred income taxes	127		206
Prepaid expenses and other	72		68
Assets held for sale	—		373
Total Current Assets	3,590		3,864
Property and equipment, net	1,027		1,046
Goodwill	845		840
Other intangible assets, net	164		142
Other assets	243		200
Assets held for sale	—		1,141
Total Assets	$	5,869	$	7,233
Liabilities
Current Liabilities:
Accounts payable	$	889	$	721
Notes payable	6		505
Accrued liabilities	695		685
Liabilities held for sale	—		300
Total Current Liabilities	1,590		2,211
Long-term debt	3,419		2,919
Other liabilities	729		768
Liabilities held for sale	—		207
Total Liabilities	5,738		6,105
Equity	131		1,128
Total Liabilities and Equity	$	5,869	$	7,233

	As of
	June 30,			June 30,
	2015			2014
Other Financial Data
Working Capital Days
Receivable days	51			50
Inventory days	58			60
Payable days	68			70
Working capital	$	995		$	959
Working capital as a % of sales (LTM)	14.0		%	13.9		%

Historical information is available on our website.

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MASCO CORPORATION
Condensed Consolidated Statements of Cash Flows*
and Other Data - Unaudited	(dollars in millions)

	Six Months Ended
	June 30,
	2015			2014
Cash Flows From (For) Operating Activities:
Cash provided by operating activities	$	355		$	345
Working capital changes	(216		)	(284		)
Net cash from operating activities	139			61
Cash Flows From (For) Financing Activities:
Purchase of Company common stock	(207		)	(39		)
Cash dividends paid	(62		)	(54		)
Dividend paid to noncontrolling interest	(36		)	(34		)
Retirement of notes	(500		)	—
Issuance of notes, net of issuance costs	497			—
Cash distributed to TopBuild Corp.	(63		)	—
Issuance of TopBuild Corp. debt	200			—
Issuance of Company common stock	—			1
Tax benefit from stock-based compensation	15			—
Increase in debt, net	—			1
Credit Agreement and other financing costs	(3		)	—
Net cash for financing activities	(159		)	(125		)
Cash Flows From (For) Investing Activities:
Capital expenditures	(70		)	(54		)
Other, net	10			94
Net cash (for) from investing activities	(60		)	40
Effects of exchange rate changes on cash and cash investments	(6		)	(4		)
Cash and Cash Investments:
Decrease for the period	(86		)	(28		)
At January 1	1,383			1,223
At June 30	$	1,297		$	1,195

	As of June 30,
	2015		2014
Liquidity*
Cash and cash investments	$	1,297	$	1,195
Short-term bank deposits	210		228
Total Liquidity	$	1,507	$	1,423

* Prior period amounts not restated for spin-off of TopBuild Corp.

Historical information is available on our website.

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MASCO CORPORATION
Segment Data - Unaudited
For the Three Months and Six Months Ended June 30, 2015 and 2014
	(dollars in millions)

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2015			2014			Change		2015			2014			Change
Cabinets and Related Products
Net sales	$	269		$	253		6	%	$	518		$	490		6	%
Operating profit (loss), as reported	$	15		$	(8	)			$	11		$	(20	)
Operating margin, as reported	5.6		%	-3.2		%			2.1		%	-4.1		%
Rationalization charges	—			—					2			2
Accelerated depreciation related to plant closures	—			—					—			1
Operating profit (loss), as adjusted	15			(8		)			13			(17		)
Operating margin, as adjusted	5.6		%	-3.2		%			2.5		%	-3.5		%
Depreciation and amortization	6			9					13			18
EBITDA, as adjusted	$	21		$	1				$	26		$	1
Plumbing Products
Net sales	$	846		$	849		0	%	$	1,642		$	1,649		0	%
Operating profit, as reported	$	138		$	139				$	249		$	258
Operating margin, as reported	16.3		%	16.4		%			15.2		%	15.6		%
Rationalization charges	—			—					1			2
Operating profit, as adjusted	138			139					250			260
Operating margin, as adjusted	16.3		%	16.4		%			15.2		%	15.8		%
Depreciation and amortization	14			15					28			30
EBITDA, as adjusted	$	152		$	154				$	278		$	290
Decorative Architectural Products
Net sales	$	622		$	596		4	%	$	1,073		$	1,037		3	%
Operating profit, as reported	$	133		$	113				$	216		$	189
Operating margin, as reported	21.4		%	19.0		%			20.1		%	18.2		%
Depreciation and amortization	4			4					8			8
EBITDA	$	137		$	117				$	224		$	197

Historical information is available on our website.

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MASCO CORPORATION
Segment Data - Unaudited
For the Three Months and Six Months Ended June 30, 2015 and 2014
	(dollars in millions)

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2015			2014			Change		2015			2014			Change
Other Specialty Products
Net sales	$	192		$	178		8	%	$	355		$	330		8	%
Operating profit, as reported	$	21		$	14				$	27		$	19
Operating margin, as reported	10.9		%	7.9		%			7.6		%	5.8		%
Rationalization charges	—			1					—			1
Operating profit, as adjusted	21			15					27			20
Operating margin, as adjusted	10.9		%	8.4		%			7.6		%	6.1		%
Depreciation and amortization	4			4					8			9
EBITDA, as adjusted	$	25		$	19				$	35		$	29
Total
Net sales	$	1,929		$	1,876		3	%	$	3,588		$	3,506		2	%
Operating profit, as reported - segment	$	307		$	258				$	503		$	446
General corporate expense, net (GCE)	(28		)	(37		)			(59		)	(72		)
Operating profit, as reported	279			221					444			374
Operating margin, as reported	14.5		%	11.8		%			12.4		%	10.7		%
Rationalization charges - segment	—			1					3			5
Accelerated depreciation - segment	—			—					—			1
Rationalization charges - GCE	1			7					4			7
Operating profit, as adjusted	280			229					451			387
Operating margin, as adjusted	14.5		%	12.2		%			12.6		%	11.0		%
Depreciation and amortization - segment	28			32					57			65
Depreciation and amortization - non-operating	3			3					5			6
EBITDA, as adjusted	$	311		$	264				$	513		$	458

Historical information is available on our website.

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MASCO CORPORATION
North American and International Data - Unaudited
For the Three Months and Six Months Ended June 30, 2015 and 2014
	(dollars in millions)

	Three Months Ended								Six Months Ended
	June 30,								June 30,
	2015			2014			Change		2015			2014			Change
North American
Net sales	$	1,554		$	1,459		7	%	$	2,836		$	2,680		6	%
Operating profit, as reported	$	260		$	199				$	411		$	332
Operating margin, as reported	16.7		%	13.6		%			14.5		%	12.4		%
Rationalization charges	—			1					2			4
Accelerated depreciation related to plant closures	—			—					—			1
Operating profit, as adjusted	260			200					413			337
Operating margin, as adjusted	16.7		%	13.7		%			14.6		%	12.6		%
Depreciation and amortization	19			22					39			45
EBITDA, as adjusted	$	279		$	222				$	452		$	382
International
Net sales	$	375		$	417		-10	%	$	752		$	826		-9	%
Operating profit, as reported	$	47		$	59				$	92		$	114
Operating margin, as reported	12.5		%	14.1		%			12.2		%	13.8		%
Rationalization charges	—			—					1			1
Operating profit, as adjusted	47			59					93			115
Operating margin, as adjusted	12.5		%	14.1		%			12.4		%	13.9		%
Depreciation and amortization	9			10					18			20
EBITDA, as adjusted	$	56		$	69				$	111		$	135
Total
Net sales	$	1,929		$	1,876		3	%	$	3,588		$	3,506		2	%
Operating profit, as reported - segment	$	307		$	258				$	503		$	446
General corporate expense, net (GCE)	(28		)	(37		)			(59		)	(72		)
Operating profit, as reported	279			221					444			374
Operating margin, as reported	14.5		%	11.8		%			12.4		%	10.7		%
Rationalization charges - segment	—			1					3			5
Accelerated depreciation - segment	—			—					—			1
Rationalization charges - GCE	1			7					4			7
Operating profit, as adjusted	280			229					451			387
Operating margin, as adjusted	14.5		%	12.2		%			12.6		%	11.0		%
Depreciation and amortization - segment	28			32					57			65
Depreciation and amortization - non-operating	3			3					5			6
EBITDA, as adjusted	$	311		$	264				$	513		$	458

Historical information is available on our website.

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