MasterBrand (NYSE: MBC) swings to Q2 loss as American Woodmark merger closes

Rhea-AI Filing Summary

MasterBrand, Inc. reported Q2 2026 results reflecting the closing of its all‑stock merger with American Woodmark and softer legacy demand. Net sales were $815.2 million, including $125.5 million from American Woodmark, while legacy MasterBrand sales declined 5.6% year over year.

Gross profit was $205.5 million with a 25.2% margin, down from 32.8%. The company posted a net loss of $57.6 million versus $37.3 million of income a year earlier; adjusted EBITDA fell to $62.5 million (7.7% margin) from $105.4 million. Year‑to‑date operating cash flow dropped to $5.8 million and free cash flow turned negative at $(17.6) million. MasterBrand ended the quarter with $241.6 million in cash, net debt of $1,148.7 million, and combined net debt to adjusted EBITDA of 3.9x. Management has executed about $30 million of annualized cost synergies, raised its run‑rate synergy target to over $100 million by year three, and issued second‑half 2026 guidance for net sales of $2.05–$2.11 billion and adjusted EBITDA of $129–$149 million.

Positive

• Raised synergy target to over $100 million in annual run-rate savings by the end of year three, with approximately $30 million already executed and $15 million expected to benefit second-half 2026.
• Total liquidity of $635.5 million, including $241.6 million of cash and $393.9 million of revolver availability, supports integration spending, tariff mitigation and the company’s multi-year deleveraging plans.
• Second-half 2026 outlook calls for $2.05–$2.11 billion in net sales and $129–$149 million in adjusted EBITDA despite an addressable market expected to be down mid-single digits.
• Tariff burden expected to be fully mitigated on a dollar run-rate basis by year-end 2026, offset through a mix of supply-chain, operational and pricing actions.
• Management targets net leverage below 2.0x by the end of 2028 and continues to expect full-year 2026 free cash flow to exceed net income.

Negative

• Q2 2026 net loss of $57.6 million compared with $37.3 million of income a year earlier, as lower volume, mix and merger-related costs pressured profitability.
• Adjusted EBITDA fell 40.7% year over year to $62.5 million and margin compressed 680 basis points to 7.7%, reflecting end-market declines and inflation in materials, labor and freight.
• Free cash flow turned to a $(17.6) million outflow for the first half of 2026, versus $25.5 million of free cash flow in the prior-year period.
• Leverage increased to 3.9x net debt to adjusted EBITDA, up from 2.5x, after the American Woodmark acquisition and new $375 million Term Loan A borrowing.
• Legacy MasterBrand net sales declined 5.6% in the quarter and legacy gross margin fell 540 basis points to 27.4%, highlighting continued end-market softness and unfavorable mix.

Filing Explained

The completed May 28 merger leaves MasterBrand with a $375.0 million Term Loan A and $1,148.7 million of net debt as of June 28.

Form 8-K reports specified material events; this filing furnishes second-quarter results and an investor presentation. The May 28 all-stock merger with American Woodmark is complete, and the combined company reports $1,390.3 million of total debt, including a $375.0 million Term Loan A, and $1,148.7 million of net debt.

Approximately $30 million of annualized synergy actions had been completed by the end of July, while the more than $100 million figure is a future annual run-rate target expected by the end of year three after closing.

As of June 28, 2026, the company reported $241.6 million of cash and $393.9 million of revolver availability, and said it remained in compliance with its financial covenants.

The filing identifies two initiated plant closures as integration actions and retains a target of below 2.0x net leverage by the end of 2028; those initiatives and the target remain future execution milestones.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 net sales: $815.2 million Q2 2026 net (loss) income: $(57.6) million Q2 2026 adjusted EBITDA: $62.5 million +5 more

8 metrics

Q2 2026 net sales $815.2 million Consolidated net sales for the 13 weeks ended June 28, 2026

Q2 2026 net (loss) income $(57.6) million Net loss for the 13 weeks ended June 28, 2026

Q2 2026 adjusted EBITDA $62.5 million Non-GAAP adjusted EBITDA for the 13 weeks ended June 28, 2026

Net cash provided by operating activities YTD 2026 $5.8 million Net cash from operations for the 26 weeks ended June 28, 2026

Free cash flow YTD 2026 $(17.6) million Free cash flow for the 26 weeks ended June 28, 2026

Net debt $1,148.7 million Net debt as of June 28, 2026

Combined net debt to adjusted EBITDA 3.9x Combined company net debt to adjusted EBITDA, trailing twelve months

Annual run-rate cost synergy target over $100 million Expected annual run-rate cost synergies by end of year three post-close

Key Terms

adjusted EBITDA, free cash flow, run-rate cost synergies, net debt to adjusted EBITDA, +2 more

6 terms

adjusted EBITDA financial

"Adjusted EBITDA1 was $62.5 million, including a $4.3 million contribution"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

free cash flow financial

"Free cash flow1 was $(17.6) million for the twenty-six weeks ended June 28, 2026"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

run-rate cost synergies financial

"expects over $100 million in annual run-rate cost synergies by the end of year three"

Run-rate cost synergies are the ongoing, annualized savings a company expects to achieve after combining operations with another business, once integration actions (like consolidating offices or cutting overlapping staff) are fully in place. For investors, they matter because they show how a deal is expected to improve future profitability and cash flow — like projecting the yearly savings from merging two households so you can judge whether the combination was worth the price paid.

net debt to adjusted EBITDA financial

"Combined Net Debt to Adjusted EBITDA (trailing twelve months) was 3.9x"

Net debt to adjusted EBITDA is a leverage ratio that compares a company’s net debt (total interest-bearing debt minus cash) to its recurring operating earnings after removing one-off items. Think of it like how many years of steady take-home pay the business would need to pay off its outstanding debt; investors use it to gauge debt burden, financial risk and relative creditworthiness, with lower ratios generally indicating a safer balance sheet.

IEEPA duty refunds regulatory

"includes approximately $11 million of IEEPA duty refunds received and expected"

Section 301 Tariff regulatory

"Section 301 Tariff – Tariffs ranging from 10% to 12.5% on imports"

A Section 301 tariff is a customs duty imposed under a government trade law that lets authorities penalize foreign practices judged to be unfair to domestic businesses. Think of it like a targeted tax or penalty on specific imported goods; it matters to investors because it can raise costs, reshape supply chains, change competitive dynamics and company profits, and introduce regulatory uncertainty that affects stock valuations.

Earnings Snapshot

Net sales: $815.2 million · Guidance included

quarter ended June 28, 2026

Net sales $815.2 million up 11.5% vs Q2 2025

Gross profit margin 25.2% down 760 basis points vs 32.8% in Q2 2025

Net (loss) income $(57.6) million from $37.3 million income in Q2 2025

Adjusted EBITDA $62.5 million down 40.7% from $105.4 million in Q2 2025

Adjusted EBITDA margin 7.7% down 680 basis points from 14.4% in Q2 2025

Diluted EPS $(0.38) from $0.29 in Q2 2025

Adjusted diluted EPS $0.05 from $0.40 in Q2 2025

Free cash flow (year-to-date) $(17.6) million from $25.5 million in the prior-year period

Guidance

For the second half of 2026, the company expects net sales of $2.05–$2.11 billion, adjusted EBITDA of $129–$149 million with margins of 6.3%–7.1%, and adjusted diluted EPS between $(0.05) and $0.03, including about $15 million of synergy capture and $11 million of IEEPA duty refunds.

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Available on EDGAR 08/04/2026 - 04:07 PM Accepted by SEC EDGAR 08/04/2026 - 04:06 PM Learn about SEC filing dates

FAQ

What were MasterBrand (MBC)'s key financial results for Q2 2026?

MasterBrand reported Q2 2026 net sales of $815.2 million and a net loss of $57.6 million. Adjusted EBITDA was $62.5 million with a 7.7% margin, and diluted EPS was $(0.38) versus $0.29 in Q2 2025.

How did the American Woodmark merger affect MasterBrand (MBC) in Q2 2026?

The American Woodmark merger closed on May 28, 2026 and contributed $125.5 million of net sales and $(28.9) million of net loss in Q2. MasterBrand has executed about $30 million of annualized cost synergies and raised its synergy target to over $100 million.

What guidance did MasterBrand (MBC) provide for the second half of 2026?

For the second half of 2026, MasterBrand expects net sales of $2.05–$2.11 billion and adjusted EBITDA of $129–$149 million, implying margins of 6.3%–7.1%. Adjusted diluted EPS is guided between $(0.05) and $0.03.

What is MasterBrand (MBC)'s leverage and liquidity after acquiring American Woodmark?

As of June 28, 2026, MasterBrand had net debt of $1,148.7 million and combined net debt to adjusted EBITDA of 3.9x. Liquidity totaled $635.5 million, including $241.6 million of cash and $393.9 million of revolver availability.

How are tariffs impacting MasterBrand (MBC)'s 2026 outlook?

For full-year 2026, MasterBrand expects gross tariff costs of about 5–6% of net sales for the combined company. Management plans to offset these costs on a dollar-for-dollar run-rate basis by year-end through supply-chain, operational and pricing mitigations.

What synergy targets has MasterBrand (MBC) set after the American Woodmark deal?

MasterBrand now expects over $100 million in annual run-rate cost synergies by the end of year three post-close. Approximately $30 million of annualized synergy actions were executed by end of July, with about $15 million expected to benefit second-half 2026.

How did MasterBrand (MBC)'s cash flow change in the first half of 2026?

For the 26 weeks ended June 28, 2026, net cash provided by operating activities was $5.8 million, down from $53.4 million a year earlier. Free cash flow was $(17.6) million, compared with $25.5 million in the prior-year period.

FALSE0001941365877622-47823300 Enterprise Parkway, Suite 300BeachwoodOhio00019413652026-08-042026-08-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________________

FORM 8-K

________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 4, 2026

________________________

MasterBrand, Inc.

(Exact name of registrant as specified in its Charter)

________________________

Delaware			001-41545			88-3479920
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

3300 Enterprise Parkway, Suite 300 Beachwood, Ohio						44122
(Address of Principal Executive Offices)						(Zip Code)

877-622-4782

(Registrant’s telephone number, including area code)

________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock, par value $0.01 per share

MBC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02.    Results of Operations and Financial Condition.

MasterBrand, Inc. (the “Company”) issued an earnings release on August 4, 2026, announcing certain financial and operational results for the fiscal quarter ended June 28, 2026. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

Item 7.01.    Regulation FD Disclosure.

On August 4, 2026, the Company posted a slide presentation on its investor relations website. Company officers intend to use this slide presentation in connection with upcoming meetings with analysts and investors. Pursuant to Regulation FD, a copy of the slide presentation is furnished with this Current Report on Form 8-K as Exhibit 99.2 and incorporated by reference herein.

The information in Items 2.02 and 7.01, including the press release furnished as Exhibit 99.1 and the investor presentation furnished as Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any Company filing under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such filing.

Item 9.01.    Financial Statements and Exhibits.

(d)Exhibits

			Exhibit No.						Description
			99.1						Earnings Release, dated August 4, 2026
			99.2						Investor Presentation, dated August 4, 2026
			104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			MasterBrand, Inc.
			(Registrant)
Date: August 4, 2026						By:			/s/ R. David Banyard, Jr.
						Name:			R. David Banyard, Jr.
						Title:			President & Chief Executive Officer

MasterBrand Reports Second Quarter 2026 Financial Results

•Closed transformative all-stock merger with American Woodmark during the quarter and raised long-term annual run-rate cost synergy target to over $100 million

•Net sales were $815.2 million, including a $125.5 million contribution from American Woodmark

•Net loss was $(57.6) million and net loss margin was (7.1)%

•Adjusted EBITDA1 was $62.5 million, representing an adjusted EBITDA margin1 of 7.7%

•Diluted (loss) earnings per share were $(0.38), compared to $0.29 in the prior year period, adjusted diluted earnings per share1 were $0.05, compared to $0.40 in the prior year period

•Company introduces second-half 2026 financial outlook, which includes $15 million of synergy realization from the $30 million in annualized synergies executed to date

BEACHWOOD, Ohio.--(BUSINESS WIRE)--August 4, 2026-- MasterBrand, Inc. (NYSE: MBC, the “Company,” or “MasterBrand”), the largest residential cabinet manufacturer in North America, today announced second quarter 2026 financial results.

“The second quarter marked an important milestone for MasterBrand. We completed our merger with American Woodmark, establishing the most comprehensive portfolio of trusted cabinetry brands in North America, while our legacy business delivered results largely in line with our outlook despite continued softness in demand,” said Dave Banyard, President and Chief Executive Officer. “With integration ahead of schedule, we remain confident that this combination positions MasterBrand to streamline our cost structure, unlock greater earnings power, and drive growth as our markets recover.”

Second Quarter 2026

Results for the second quarter include American Woodmark from the May 28, 2026 close date. Prior year comparisons reflect legacy MasterBrand only.

Net sales were $815.2 million, including a $125.5 million contribution from American Woodmark. Legacy MasterBrand net sales were $689.7 million, a decrease of 5.6% compared to the second quarter of 2025, reflecting a mid- to high-single-digit market decline, as expected, slightly offset by favorable net average selling price (“ASP”) due to the flow through of tariff pricing.

Gross profit was $205.5 million, with a contribution of $16.7 million from American Woodmark. Gross profit margin was 25.2%. Legacy MasterBrand gross profit was $188.8 million, compared to $239.7 million in the prior year period. Legacy gross profit margin decreased 540 basis points to 27.4%, compared to 32.8% in the second quarter of 2025, driven by lower volume and the related unfavorable fixed cost leverage, unfavorable product mix, and material, labor, and freight inflation, partially offset by our continuous improvement efforts and favorable ASP from tariff pricing flow-through.

Net (loss) income was $(57.6) million, with a contribution of $(28.9) million from American Woodmark and net (loss) income margin was (7.1)%. Legacy net (loss) income was $(28.7) million compared to $37.3 million in the second quarter of 2025 and net (loss) income margin was (4.2)%, compared to net income margin of 5.1% in the prior year, driven by lower gross profit and higher SG&A expenses, primarily due to merger-related costs, and a higher tax expense due to non-deductible expenses and jurisdictional differences, partially offset by the initial benefits of cost actions taken in the quarter.

1 - See "Non-GAAP Financial Measures" and the corresponding financial tables at the end of this press release for definitions and reconciliations of non-GAAP measures.

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Adjusted EBITDA1 was $62.5 million, including a $4.3 million contribution from American Woodmark. Adjusted EBITDA margin1 was 7.7%. Legacy MasterBrand adjusted EBITDA1 was $58.2 million compared to $105.4 million in the prior year period, and adjusted EBITDA margin1 was 8.4%, down 600 basis points due to market driven volume declines and the related unfavorable fixed cost leverage, unfavorable product mix, and material, labor, and freight inflation, partially offset by the flow through of tariff mitigation, our continuous improvement efforts and previously announced cost actions.

Diluted (loss) earnings per share were $(0.38) based on 153.6 million weighted average shares outstanding compared to $0.29 in the second quarter of 2025 based on 129.1 million weighted average shares outstanding. Adjusted diluted earnings per share1 was $0.05 based on 153.6 million weighted average shares outstanding compared to $0.40 in the second quarter of 2025 based on 129.1 million weighted average shares outstanding.

American Woodmark Integration and Synergies

On May 28, 2026, MasterBrand completed its merger with American Woodmark, creating the most comprehensive portfolio of trusted cabinetry brands in North America. Integration of American Woodmark is underway, with approximately $30 million of annual synergy actions completed as of the end of July. The Company now expects over $100 million in annual run-rate cost synergies by the end of year three post-close, exceeding its original synergy target. This target excludes the previously announced $30 million legacy MasterBrand cost reduction initiative and American Woodmark's closure of its Monterrey, Mexico facility, both of which are incremental.

1 - See "Non-GAAP Financial Measures" and the corresponding financial tables at the end of this press release for definitions and reconciliations of non-GAAP measures.

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Balance Sheet, Cash Flow and Capital Allocation

As of June 28, 2026, the Company had $241.6 million in cash and $393.9 million of availability under its revolving credit facility. Additionally, total debt was $1,390.3 million, net debt1 was $1,148.7 million and the ratio of net debt to adjusted EBITDA1 from the most recent trailing twelve months, inclusive of American Woodmark’s most recent trailing twelve-months adjusted EBITDA1, was 3.9x. The Company's credit agreement permits the inclusion of trailing twelve-month adjusted EBITDA for American Woodmark and stock-based compensation, among other permitted adjustments, for covenant compliance purposes. The Company remained in full compliance with all applicable financial covenants related to its outstanding debt as of the end of the second quarter.

Net cash provided by operating activities was $5.8 million for the twenty-six weeks ended June 28, 2026, compared to $53.4 million for the twenty-six weeks ended June 29, 2025. Free cash flow1 was $(17.6) million for the twenty-six weeks ended June 28, 2026, compared to $25.5 million in the prior-year period. The decrease in net cash provided by operating activities and free cash flow were driven by a decrease in net income in the twenty-six weeks ended June 28, 2026 compared to the twenty-six weeks ended June 29, 2025.

No share repurchases were made during the second quarter of 2026. The Company intends to prioritize integration investments and debt reduction and is currently targeting net leverage below 2.0x by the end of 2028.

Second-Half 2026 Financial Outlook

For the second half of 2026, the Company expects the following:

•Net sales of $2.05 to $2.11 billion

•Adjusted EBITDA1,2 in the range of $129 to $149 million, with related adjusted EBITDA margin1,2 in the range of 6.3% to 7.1%

•Adjusted diluted earnings per share1,2 in the range of $(0.05) to $0.03

◦Reflects interest expense of approximately $50 million, reflecting the newly arranged $375 million delayed-draw Term Loan A used to retire American Woodmark's debt at close

This outlook reflects the combined company, with American Woodmark included for the full second half, and includes approximately $15 million of synergy capture and approximately $11 million of IEEPA duty refunds received and expected to be received over the period.

For full year 2026, MasterBrand is reiterating its expectation that its addressable market will be down mid-single digits. The Company now expects the following:

•Gross tariff costs of approximately 5-6% of full-year 2026 net sales; expected to be fully offset on a dollar-for-dollar run-rate basis by end of year

•The Company continues to expect free cash flow¹ for full-year 2026 to be in excess of net income

1 - See "Non-GAAP Financial Measures" and the corresponding financial tables at the end of this press release for definitions and reconciliations of non-GAAP measures.

2 - We have not provided a reconciliation of our second half of 2026 adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS guidance because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred and which may be excluded from adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS. Additionally, estimating such GAAP measures and providing a meaningful reconciliation for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions used for historical non-GAAP measures.

3

This financial outlook only reflects the impact of those tariffs in effect as of the date of this release and does not reflect any other potential tariffs or tariff-related impacts on company costs or end market demand. The Company believes the dynamic nature of tariffs, specifically the uncertainty of implementation, potential timing and duration, limits the usefulness of estimating this information. MasterBrand undertakes no obligation to update this outlook as circumstances evolve. This outlook reflects the combined company including American Woodmark.

"Our teams continued to execute cost actions and tariff mitigation efforts while accomplishing early synergy realization from the combination," said Andi Simon, Executive Vice President and Chief Financial Officer. "With the merger complete and integration planning continuing and converting to execution, we are introducing second-half 2026 outlook for the combined company. Our priorities from here are clear: disciplined execution on costs and synergies, and steady progress on the balance sheet."

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Conference Call Details

The Company will hold a live conference call and webcast at 4:30 p.m. ET today, August 4, 2026, to discuss the financial results and business outlook. Telephone access to the live call will be available at (877) 407-4019 (U.S.) or by dialing +1 (201) 689-8337 (international). The live audio webcast can be accessed on the “Investors” section of the MasterBrand website www.masterbrand.com.

A telephone replay will be available approximately one hour following completion of the call through August 18, 2026. To access the replay, please dial (877) 660-6853 (U.S.) or +1 (201) 612-7415 (international). The replay passcode is 13761068. An archived webcast of the conference call will also be available on the "Investors" page of the Company's website.

Non-GAAP Financial Measures

To supplement the financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) in this earnings release, certain non-GAAP financial measures as defined under SEC rules have been included. It is our intent to provide non-GAAP financial information to enhance understanding of our financial information as prepared in accordance with GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for, other financial measures prepared in accordance with GAAP. Our methods of determining these non-GAAP financial measures may differ from the methods used by other companies for these or similar non-GAAP financial measures. Accordingly, these non-GAAP financial measures may not be comparable to measures used by other companies.

We use EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income margin, adjusted diluted earnings per share (“adjusted diluted EPS”), free cash flow, net debt, and net debt to adjusted EBITDA, which are all non-GAAP financial measures. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. We evaluate the performance of our business based on income before income taxes, but also look to EBITDA as a performance evaluation measure because interest expense is related to corporate functions, as opposed to operations. For that reason, we believe EBITDA is a useful metric to investors in evaluating our operating results. Adjusted EBITDA is calculated by removing the impact of non-operational results and special items from EBITDA. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by net sales. Adjusted net income is calculated by removing the impact of non-operational results, including non-cash amortization expense, which is not deemed to be indicative of the results of current or future operations, and special items from net income. Adjusted net income margin is calculated as adjusted net income divided by net sales. Adjusted diluted EPS is a measure of our diluted earnings per share excluding non-operational results and special items. We believe these non-GAAP measures are useful to investors as they are representative of our core operations and are used in the management of our business, including decisions concerning the allocation of resources and assessment of performance.

Free cash flow is defined as cash flow from operations less capital expenditures. We believe that free cash flow is a useful measure to investors because it is a meaningful indicator of cash generated from operating activities available for the execution of our business strategy, and is used in the management of our business, including decisions concerning the allocation of resources and assessment of performance. Net debt is defined as total balance sheet debt less cash and cash equivalents. We believe this measure is useful to investors as it provides a measure to compare debt less cash and cash equivalents across periods on a consistent basis. Net debt to adjusted EBITDA is calculated by dividing net debt by the trailing twelve months adjusted EBITDA. For periods impacted by an acquisition, trailing twelve months adjusted EBITDA includes the full trailing twelve months adjusted EBITDA of the

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acquired entity. Net debt to adjusted EBITDA is used by management to assess our financial leverage and ability to service our debt obligations.

As required by SEC rules, detailed reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure are included in the financial statement section of this earnings release. We have not provided a reconciliation of our fiscal 2026 second half adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS guidance because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, including restructuring and other charges, which are excluded from adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions used for historical non-GAAP measures.

About MasterBrand:

MasterBrand, Inc. (NYSE: MBC) is the largest manufacturer of residential cabinets in North America and offers a comprehensive portfolio of leading residential cabinetry products for the kitchen, bathroom and other parts of the home. Delivered through our exceptional distribution network, MasterBrand products are available in a wide variety of designs, finishes and styles and span the most attractive categories of the cabinets market: stock, semi-custom and premium cabinetry. Additional information can be found at www.masterbrand.com.

Forward-Looking Statements:

Certain statements contained in this Press Release, other than purely historical information, including, but not limited to estimates, projections, statements relating to our business plans, objectives and expected operating results, financial outlook and cost synergies, and the assumptions upon which those statements are based, are forward-looking statements. Statements preceded by, followed by or that otherwise include the word “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “priorities,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements. These factors include those listed under “Risk Factors” in Part I, Item 1A of our Form 10-K for the fiscal year ended December 28, 2025, Part II, Item 1A of our subsequent Forms 10-Q and other filings with the SEC.

The forward-looking statements included in this document are made as of the date of this Press Release and, except pursuant to any obligations to disclose material information under the federal securities laws, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this Press Release.

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Some of the important factors that could cause our actual results to differ materially from those projected in any such forward-looking statements include:

•Our ability to develop and expand our business;

•Our ability to develop new products or respond to changing consumer preferences and purchasing practices;

•Our anticipated financial resources and capital spending;

•Our ability to manage costs;

•Our ability to effectively manage manufacturing operations and capacity, or an inability to maintain the quality of our products;

•The impact of our dependence on third parties to source raw materials and our ability to obtain raw materials in a timely manner or fluctuations in raw material costs;

•Our ability to accurately price our products;

•Our projections of future performance, including future revenues, capital expenditures, gross margins, and cash flows;

•The effects of competition;

•Costs of complying with evolving tax and other regulatory requirements and the effect of actual or alleged violations of tax, environmental or other laws;

•The effect of climate change and unpredictable seasonal and weather factors;

•Conditions in the housing market in the United States, Canada and Mexico;

•The expected strength of our existing customers and consumers and any loss or reduction in business from one or more of our key customers or increased buying power of large customers;

•Information systems interruptions or intrusions or the unauthorized release of confidential information concerning customers, employees, or other third parties;

•Worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis, including risks associated with uncertain trade environments, changes to U.S. tariff policy and retaliatory tariffs imposed by other countries;

•The effects of a public health crisis or other unexpected event;

•Our ability to successfully integrate American Woodmark’s operations, systems, personnel, and business processes and realize anticipated synergies, cost savings, and other strategic benefits within expected timeframes or at all;

•The impact of our current and any additional future debt obligations on our business, current and future operations, profitability and our ability to meet other obligations;

•Business disruption, operational inefficiencies or increased costs resulting from integration activities following the acquisition of American Woodmark;

•The diversion of management attention and resources from ongoing business operations as a result of integration activities and strategic initiatives associated with the acquisition of American Woodmark

•Our ability to maintain relationships with customers, suppliers, associates and other business partners following the acquisition of American Woodmark;

•Our ability to successfully integrate, migrate, or harmonize information technology systems, cybersecurity controls, financial reporting systems and other business processes across the combined company;

•Unexpected integration costs, operational challenges, disruptions or liabilities associated with the acquisition of American Woodmark;

7

•Our ability to retain key employees and leadership personnel and effectively integrate workforces and corporate cultures;

•Our ability to optimize manufacturing operations, distribution networks and supply chain activities while minimizing disruption to customers and operations; and

•Other statements contained in this Press Release regarding items that are not historical facts or that involve predictions.

Investor Relations

Investorrelations@masterbrand.com

Media Contact

Media@masterbrand.com

Source: MasterBrand, Inc.

8

CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
(Unaudited)
						13 Weeks Ended												26 Weeks Ended
(U.S. Dollars presented in millions, except per share amounts)						June 28, 2026						June 29, 2025						June 28, 2026						June 29, 2025
NET SALES						$	815.2					$	730.9					$	1,433.2					$	1,391.2
Cost of products sold						609.7						491.2						1,071.1						949.3
GROSS PROFIT						205.5						239.7						362.1						441.9
Gross Profit Margin						25.2		%				32.8		%				25.3		%				31.8		%
Selling, general and administrative expenses						216.7						159.4						372.6						313.4
Amortization of intangible assets						7.4						6.4						13.8						12.8
Restructuring charges						9.2						6.6						22.0						11.3
OPERATING (LOSS) INCOME						(27.8)						67.3						(46.3)						104.4
Interest expense						20.8						18.9						39.2						38.3
Other income, net						(0.1)						(0.6)						(0.9)						(0.2)
(LOSS) INCOME BEFORE TAXES						(48.5)						49.0						(84.6)						66.3
Income tax expense (benefit)						9.1						11.7						(11.6)						15.7
NET (LOSS) INCOME						$	(57.6)					$	37.3					$	(73.0)					$	50.6
Average Number of Shares of Common Stock Outstanding
Basic						153.6						126.8						140.6						127.2
Diluted						153.6						129.1						140.6						129.9
(Loss) Earnings Per Common Share
Basic						$	(0.38)					$	0.29					$	(0.52)					$	0.40
Diluted						$	(0.38)					$	0.29					$	(0.52)					$	0.39

9

SUPPLEMENTAL INFORMATION - Quarter-to-date
(Unaudited)
						13 Weeks Ended						13 Weeks Ended
						June 28,						June 29,
(U.S. Dollars presented in millions, except per share amounts and percentages)						2026						2025
1. Reconciliation of Net (Loss) Income to EBITDA to ADJUSTED EBITDA
Net (loss) income (GAAP)						$	(57.6)					$	37.3
Interest expense						20.8						18.9
Income tax expense						9.1						11.7
Depreciation and amortization expense						34.4						24.2
EBITDA (Non-GAAP Measure)						$	6.7					$	92.1
[1] Restructuring charges						9.2						6.6
[2] Restructuring-related charges						5.6						4.9
[3] Acquisition-related costs						38.4						1.9
[5] Recognition of pension settlement adjustment						—						(0.1)
[6] Purchase accounting cost of products sold						2.6						—
Adjusted EBITDA (Non-GAAP Measure)						$	62.5					$	105.4
2. Reconciliation of Net (Loss) Income to Adjusted Net Income
Net (loss) income (GAAP)						$	(57.6)					$	37.3
[1] Restructuring charges						9.2						6.6
[2] Restructuring-related charges						5.6						4.9
[3] Acquisition-related costs						38.4						1.9
[5] Recognition of pension settlement adjustment						—						(0.1)
[6] Purchase accounting cost of products sold						2.6						—
[7] Amortization of intangible assets						7.4						6.4
[8] Change in effective tax rate						15.8						—
[9] Income tax impact of adjustments						(13.8)						(4.9)
Adjusted Net Income (Non-GAAP Measure)						$	7.6					$	52.1
3. (Loss) Earnings per Share Summary
Diluted (Loss) Earnings Per Share (GAAP)						$	(0.38)					$	0.29
Impact of adjustments						$	0.43					$	0.11
Adjusted Diluted Earnings Per Share (Non-GAAP Measure)						$	0.05					$	0.40
Weighted average diluted shares outstanding						153.6						129.1
4. Profit Margins
Net Sales (GAAP)						$	815.2					$	730.9
Net (Loss) Income Margin percentage (GAAP)						(7.1)		%				5.1		%
Adjusted Net Income Margin percentage (Non-GAAP Measure)						0.9		%				7.1		%
Adjusted EBITDA Margin percentage (Non-GAAP Measure)						7.7		%				14.4		%

10

SUPPLEMENTAL INFORMATION
(Unaudited)
						26 Weeks Ended						26 Weeks Ended
						June 28,						June 29,
(U.S. Dollars presented in millions, except per share amounts and percentages)						2026						2025
1. Reconciliation of Net (Loss) Income to EBITDA to Adjusted EBITDA
Net (Loss) Income (GAAP)						$	(73.0)					$	50.6
Interest expense						39.2						38.3
Income tax (benefit) expense						(11.6)						15.7
Depreciation and amortization expense						57.1						47.0
EBITDA (Non-GAAP Measure)						$	11.7					$	151.6
[1] Restructuring charges						22.0						11.3
[2] Restructuring-related charges						10.7						5.9
[3] Acquisition-related costs						44.0						3.5
[4] Insurance recoveries						(0.5)						—
[5] Recognition of pension settlement charge						—						0.2
[6] Purchase accounting cost of products sold						2.6						—
Adjusted EBITDA (Non-GAAP Measure)						$	90.5					$	172.5
2. Reconciliation of Net (Loss) Income to Adjusted Net (Loss) Income
Net (Loss) Income (GAAP)						$	(73.0)					$	50.6
[1] Restructuring charges						22.0						11.3
[2] Restructuring-related charges						10.7						5.9
[3] Acquisition-related costs						44.0						3.5
[4] Insurance recoveries						(0.5)						—
[5] Recognition of pension settlement charge						—						0.2
[6] Purchase accounting cost of products sold						2.6						—
[7] Amortization of intangible assets						13.8						12.8
[9] Income tax impact of adjustments						(19.8)						(8.4)
Adjusted Net (Loss) Income (Non-GAAP Measure)						$	(0.2)					$	75.9
3. (Loss) Earnings per Share Summary
Diluted (Loss) Earnings Per Share (GAAP)						$	(0.52)					$	0.39
Impact of adjustments						$	0.52					$	0.19
Adjusted Diluted (Loss) Earnings Per Share (Non-GAAP Measure)						$	—					$	0.58
Weighted average diluted shares outstanding						140.6						129.9
4. Profit Margins
Net Sales (GAAP)						$	1,433.2					$	1,391.2
Net (Loss) Income margin percentage (GAAP)						(5.1)		%				3.6		%
Adjusted Net (Loss) Income margin percentage (Non-GAAP Measure)						—		%				5.5		%
Adjusted EBITDA margin percentage (Non-GAAP Measure)						6.3		%				12.4		%

11

TICK LEGEND:

[1] Restructuring charges are nonrecurring costs incurred to implement significant cost reduction initiatives and may consist of workforce reduction costs, facility closure costs, cessation of operations and other costs to maintain certain facilities where operations have ceased, but which we are still responsible for. The restructuring charges for all periods presented primarily include costs related to workforce reductions, lease abandonment and asset disposals for facilities that have been closed, but not yet sold. During the thirteen weeks ended March 29, 2026, the Company implemented a voluntary and involuntary separation program to reduce overall headcount, primarily in our corporate functions. As a result of the workforce reduction, the Company recorded $8.1 million of one-time termination benefits during the thirteen weeks ended March 29, 2026.

[2] Restructuring-related charges are expenses directly related to restructuring initiatives that do not represent normal, recurring expenses necessary to operate the business, but cannot be reported as restructuring under GAAP. The restructuring-related charges for all periods presented primarily include losses on disposal of inventories from exiting product lines, losses on the sale of facilities closed as a result of restructuring actions and costs resulting from the redeployment of equipment within the manufacturing footprint.

[3] Acquisition-related costs are transaction and integration costs, including legal, accounting and other professional fees, severance, stock-based compensation and other integration related costs. These charges are primarily recorded within selling, general and administrative expenses within the Condensed Consolidated Statements of Income. Acquisition-related costs are significantly impacted by the timing and complexity of the underlying acquisition related activities and are not indicative of the Company’s ongoing operating performance. The acquisition-related costs incurred in the thirteen and twenty-six weeks ended June 28, 2026 are primarily associated with the acquisition of American Woodmark, which closed on May 28, 2026. Costs for both periods are comprised primarily of severance costs, including accelerated share-based compensation, and professional fees. The acquisition-related costs incurred in the thirteen and twenty-six weeks ended June 29, 2025 are associated with the acquisition of Supreme Cabinetry Brands, Inc., which was announced in the second quarter of fiscal 2024 and closed early in the third quarter of fiscal 2024. Costs for both periods are comprised primarily of professional fees.

Certain of the acquisition-related costs incurred are deemed non-deductible for U.S. tax purposes. The tax impact of these non-deductible acquisition-related costs was $2.0 million and $3.4 million for the thirteen and twenty-six weeks ended June 28, 2026, respectively. For the thirteen and twenty-six weeks ended June 29, 2025, all acquisition-related costs were deductible. These items are not deemed indicative of ongoing operations and have been excluded from the income tax impact of adjustments for the relevant periods.

[4] Recoveries related to insurance claims are excluded as they are not deemed indicative of future operations. The amount recognized in the twenty-six weeks ended June 28, 2026 related to recoveries of costs from insurable events that occurred within the manufacturing footprint in 2025.

[5] We exclude the impact of actuarial gains and losses related to our U.S. defined benefit pension plan as they are not deemed indicative of future operations. In 2024, the Company made the decision to terminate our defined benefit pension plan. During the twenty-six weeks ended June 29, 2025, the Company recognized a settlement charge of $0.2 million related to the final valuation of the pension plan.

[6] Purchase accounting cost of products sold relates to the fair market value adjustment required under GAAP for inventory obtained in the acquisition of American Woodmark, $2.6 million of which was sold in the second quarter subsequent to the transaction close on May 28, 2026.

[7] We add back amortization of intangible assets in calculating adjusted net income and adjusted diluted EPS for all periods presented. Non-cash amortization expenses are not indicative of the Company’s ongoing operations.

[8] Change in effective tax rate represents catch-up tax expense recorded in the quarter to reflect a change in the estimated annual effective tax rate and is not indicative of future operating results. The Company determines its interim tax provision using an estimated annual effective tax rate methodology. In the second quarter, an updated full-year pretax income forecast resulted in a significant change to the estimated annual effective tax rate compared with the first quarter, which drove the catch-up tax expense recorded in the quarter. As a result of this adjustment, the sum of quarterly non-GAAP net income reported does not equal the year-to-date non-GAAP net income reported herein.

[9] In calculating adjusted net income, the tax effects of each of the adjustments described in Items [1] through [7] above have been reflected using an estimated annual effective income tax rate of 25.0 percent, which includes the impact of recurring permanent differences and state income taxes, but excludes discrete items. Discrete income tax items are adjusted in the period they are identified and may include, but are not limited to, changes in uncertain tax positions, return-to-provision adjustments, the tax effects of certain stock-based compensation, and changes in valuation allowances on deferred tax assets. Management believes this approach provides investors with a clearer understanding of the income tax provision and the estimated annual effective income tax rate applicable to the Company’s ongoing operations.

12

CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
						June 28,						June 29,
(U.S. Dollars presented in millions)						2026						2025
ASSETS
Current assets
Cash and cash equivalents						$	241.6					$	120.1
Accounts receivable, net						247.2						218.8
Inventories						435.6						277.0
Other current assets						137.3						73.8
TOTAL CURRENT ASSETS						1,061.7						689.7
Property, plant and equipment, net						832.6						478.4
Operating lease right-of-use assets, net						282.6						67.7
Goodwill						1,318.5						1,127.6
Other intangible assets, net						888.6						560.5
Other assets						95.6						33.5
TOTAL ASSETS						$	4,479.6					$	2,957.4
LIABILITIES AND EQUITY
Current liabilities
Accounts payable						$	249.5					$	176.7
Current portion of long-term debt						18.8						—
Current operating lease liabilities						56.3						19.3
Other current liabilities						279.1						172.6
TOTAL CURRENT LIABILITIES						603.7						368.6
Long-term debt						1,371.5						998.7
Deferred income taxes						270.9						154.7
Operating lease liabilities						243.2						56.9
Other non-current liabilities						21.6						17.5
TOTAL LIABILITIES						2,510.9						1,596.4
Stockholders' equity						1,968.7						1,361.0
TOTAL EQUITY						1,968.7						1,361.0
TOTAL LIABILITIES AND EQUITY						$	4,479.6					$	2,957.4
Reconciliation of Net Debt to Adjusted EBITDA
Current portion of long-term debt						$	18.8					$	—
Long-term debt						$	1,371.5					$	998.7
Less: Cash and cash equivalents						(241.6)						(120.1)
Net Debt						$	1,148.7					$	878.6
Adjusted EBITDA for Prior Fiscal Year						298.2						363.6
Less: Prior Period Adjusted EBITDA						(172.5)						(184.5)
Plus: Current Period Adjusted EBITDA						90.5						172.5
Adjusted EBITDA (trailing twelve months)						$	216.2					$	351.6
Less: American Woodmark Adjusted EBITDA post-acquisition contribution						(4.3)						—
Legacy MasterBrand Adjusted EBITDA (trailing twelve months)						$	211.9					$	—
Add: American Woodmark Adjusted EBITDA (trailing twelve months)						$	82.6					$	—
Combined Adjusted EBITDA (trailing twelve months)						$	294.5					$	—
Combined Net Debt to Adjusted EBITDA						3.9x						2.5x

13

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
						26 Weeks Ended						26 Weeks Ended
						June 28,						June 29,
(U.S. Dollars presented in millions)						2026						2025
OPERATING ACTIVITIES
Net (loss) income						$	(73.0)					$	50.6
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization						57.1						47.0
Restructuring charges, net of cash payments						8.1						5.0
Amortization of finance fees						1.5						1.4
Stock-based compensation						17.0						10.8
Recognition of pension settlement charge						—						0.2
Changes in operating assets and liabilities:
Accounts receivable						(6.3)						(26.9)
Inventories						7.5						0.2
Other current assets						2.6						0.1
Accounts payable						3.4						(5.5)
Accrued expenses and other current liabilities						(8.1)						(23.2)
Other items						(4.0)						(6.3)
NET CASH PROVIDED BY OPERATING ACTIVITIES						5.8						53.4
INVESTING ACTIVITIES
Capital expenditures						(23.4)						(27.9)
Proceeds from the disposition of assets						0.3						3.6
Acquisition of business, net of cash acquired						(330.3)						—
NET CASH USED IN INVESTING ACTIVITIES						(353.4)						(24.3)
FINANCING ACTIVITIES
Proceeds from revolving credit facility borrowings						150.0						115.0
Issuance of Term Loan A						375.0						—
Repayment of revolving credit facility borrowings						(110.0)						(125.0)
Payment of financing fees						(1.0)						—
Repurchase of common stock						—						(18.1)
Payments of employee taxes withheld from share-based awards						(7.8)						(4.6)
Other items						(1.6)						(1.3)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES						404.6						(34.0)
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash						0.7						4.0
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH						$	57.7					$	(0.9)
Cash, cash equivalents, and restricted cash at beginning of period						$	183.9					$	121.6
Cash, cash equivalents, and restricted cash at end of period						$	241.6					$	120.7
Cash and cash equivalents						$	241.6					$	120.1
Restricted cash included in other assets						—						0.6
Total cash, cash equivalents and restricted cash						$	241.6					$	120.7
Reconciliation of Free Cash Flow
Net cash provided by operating activities						$	5.8					$	53.4
Less: Capital expenditures						(23.4)						(27.9)
Free cash flow						$	(17.6)					$	25.5

14

1 Q2 2026 Investor Presentation August 4, 2026

Certain statements contained in this presentation, other than purely historical information, including, but not limited to estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those statements are based, are forward-looking statements. Statements preceded by, followed by or that otherwise include the word “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans,” “may increase,” “may fluctuate,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could,” are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements. These factors include those listed under “Risk Factors” in Part I, Item 1A of our Form 10-K for the fiscal year ended December 28, 2025, Part II, Item 1A of our subsequent Forms 10-Q and other filings with the SEC. The forward-looking statements included in this document are made as of the date of this presentation and, except pursuant to any obligations to disclose material information under the federal securities laws, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this presentation. Forward Looking Statements

Second Quarter Highlights • Closed transformational merger with American Woodmark and commenced integration initiatives day one • Raised combined-company annual run-rate cost synergy target to over $100 million • Introduced second-half 2026 financial outlook as integration planning converts to execution • Executed $30 million of annualized cost synergies as of the end of July, with $15 million of savings expected in the second-half of 2026 • Offset the cost of tariff-related headwinds through operational and supply-chain mitigations 3 Financial Highlights1 ($ in millions) Q2 2026 Net Sales $ 815.2 Gross Profit $ 205.5 Gross Profit Margin 25.2% SG&A $ 216.7 Net Loss $ (57.6) Net Loss Margin (7.1)% Adjusted EBITDA1 $ 62.5 Adjusted EBITDA Margin1 7.7% 1 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP metrics. Please see Appendix for definitions and corresponding reconciliations to historical GAAP measures.

The MasterBrand Story Building great experiences together O U R P U R P O S E Build on our rich history by innovating how we work and what we offer to delight our customers O U R V I S I O N Make the team better Be bold Champion improvement O U R C U L T U R E Lead through Lean Engage teams and foster problem-solving Align to Grow Deliver on the unique needs of each customer Tech Enabled Transform the way we work through digital, data, and analytics Operational excellence with focus on digital, data, and analytics solutions Largest distribution network with deep builder, dealer, and home center relationships Comprehensive product and brand portfolio D E L I V E R E D T H R O U G H T H E M A S T E R B R A N D W A Y Industry-leading customer service 4

Strengthens Regional Presence With a Broader Operational Footprint Across North American Markets Builds the Scale and Resources to Grow with Customers Across Every Channel Unlocks Meaningful Cost Synergies and Commercial Growth Opportunities to Amplify Value Creation • Annual Run-Rate Cost Synergies of $100M+ Expected by the End of Year Three, Following Close • Accretion to Adjusted Diluted EPS Expected in Year Two, Following Close Expands the Industry’s Most Comprehensive Portfolio of Trusted Cabinet Brands and Products Across a Broad Price Spectrum MasterBrand + American Woodmark: Stronger Together, Built to Lead Delivers Superior Service and Enhanced Value to Customers and Consumers Across the Full Value Chain 5

Combined Company Financial Profile Legacy MasterBrand Q2 2026 TTM Legacy American Woodmark Q2 2026 TTM Combined Company Q2 2026 TTM Market Capitalization1 $2.0 billion Net Revenue $2.7 billion $1.4 billion $4.1 billion Adj. EBITDA2 $211.9 million $82.6 million $294.5 million Adj. EBITDA Margin2 8.0% 5.8% 7.2% Net Debt to Adj. EBITDA2 3.9x 6 1 Based on the closing share price as of June 26, 2026, and shares outstanding. 2 Adjusted EBITDA, Adjusted EBITDA margin, and net debt to adjusted EBITDA are non-GAAP metrics. Please see Appendix for definitions and corresponding reconciliations to historical GAAP measures.

Stronger Channel Partnerships, Expanded Geographic Reach, and an Industry Leading Customer Base MasterBrand serves customers through a strategic mix of channels1 14% 33% 53% 22% 37% 41% 38% 45% 17% Dealer-DistributorRetailBuilder Combined Company 7 Enhanced diversity and scale across channels, allowing customers greater access and flexibility to where and how they purchase Expanded coverage across Retail and Builder channels Strategically increased exposure to residential New Construction end-market Broader product portfolio for existing channels Increased touchpoints for customer support and an enhanced service offering Complementary footprint in all channels Increased geographic reach and expansion in key growth markets 1 2 3 1 Calculated based on the combination of trailing twelve months ended June 28, 2026.

Multi-Branded Strategy Across Price Points and Products MasterBrand portfolio by type and key brands O P P O R T U N I T Y F O R B R A N D R A T I O N A L I Z A T I O N & C O N S O L I D A T I O N Price point (per cabinet)<$350 >$750 Value Semi-custom Semi-custom PremiumValue Stock Legacy MasterBrand 8

Optimizing the Manufacturing Network through Integration and Consolidation N E T W O R K E D F O O T P R I N T : 3 8 manufacturing facilities across North America MasterBrand Cabinets American Woodmark Announced Integration-Related Closures Duplicative capacity, coverage, and product footprint across the combined network creates opportunities to consolidate and drive synergies through combined company scale  Rationalize footprint while maintaining ample capacity to capture demand recovery  Proven business system tools drive continuous improvement and product portfolio simplification  Disciplined capital spending culture enables sustained operational efficiency 9

Merger Integration Underway Integration PrioritiesIntegration to Date Actions Taken Since May 28, 2026, Close • Retired AMWD's existing debt at closing using a $375M delayed-draw Term A facility under existing debt agreement, simplifying the capital structure • Executed approximately $30M in annualized procurement and overhead synergies, including administrative actions • Initiated two plant closures to consolidate production and rationalize footprint • Launched cross-selling product introductions into dealer network • Commenced supply chain optimization and consolidation • Increased cost synergy target, provided combined- company guidance, and updated leverage ratio, synergy phasing detail, and tariff mitigation outlook Optimize supply chain and manufacturing network alignment Realize synergy opportunities in operational overhead Advance facility consolidation across the combined operating footprint Right-size corporate cost structure, including headcount & public company costs 10

$0 $20 $40 $60 $80 $100 Estimated Cost Synergy Phasing ($M Breakdown of cost synergy opportunity1 $100M+ Annual Run-Rate Cost Synergies Expected by End of Year Three, Accelerating and Amplifying Value Creation $100M+ 56% 43% SG&A – Indirect Costs Cost of Goods Sold56% 43% $15M 1HY1 11 $35M 2HY1 $50M+ Y2-Y3 Synergies realized post-close $50M Y1 + Estimated cost synergy phasing2 ($M) COGS Top Items Expected Timing Supply Chain Y1 & Y2 Plant Consolidations (Excluding Depreciation) Y1, Y2, Y3 SG&A Top Items Expected Timing Corporate Headcount Y1 Corporate Costs Y1 Plant-Level SG&A Y1, Y2, Y3 1 Expected cost synergies do not include transaction or implementation costs. One-time costs to achieve are estimated at approximately a 1:1 ratio to expected run rate synergies. 2 Synergies represent expected incremental annualized run-rate savings upon exiting each respective period.

Financial Results ($ in millions, except per share amounts) Q2 2026 Q2 2025 B/(W) Net Sales $ 815.2 $ 730.9 11.5% Gross Profit $ 205.5 $ 239.7 (14.3)% Gross Profit Margin 25.2 % 32.8% (760) bps SG&A $ 216.7 $ 159.4 35.9% Net (loss) Income $ (57.6) $ 37.3 (254.4)% Net (loss) Income Margin (7.1)% 5.1 % (1220) bps Adjusted EBTIDA1 $ 62.5 $ 105.4 (40.7)% Adjusted EBITDA Margin1 7.7% 14.4% (680) bps Diluted (Loss) Earnings Per Share(GAAP) $ (0.38) $ 0.29 (231.0)% Adjusted Diluted EPS1 $ 0.05 $ 0.40 (87.5)% Net Cash Provided By Operating Activities (YTD) $ 5.8 $ 53.4 (89.1)% Free Cash Flow1 (YTD) $ (17.6) $ 25.5 (169.0)% Q2 2026 Results 12 Top-line performance reflects a $125.5 million contribution from American Woodmark and mid- to high-single- digit end market decline slightly offset by favorable net ASP from the flow- through of tariff pricing The decrease in gross profit reflects lower volume and the related unfavorable fixed cost leverage, unfavorable product mix, and material, labor, and freight inflation, partially offset by a $16.7 million contribution from American Woodmark, continuous improvement efforts and favorable ASP from tariff pricing flow-through Adjusted EBITDA1 includes $4.3 million of contribution from American Woodmark. The Adjusted EBITDA margin1 decline was primarily due to market driven volume declines and the related unfavorable fixed cost leverage, unfavorable product mix, and material, labor, and freight inflation, partially offset by the flow through of tariff mitigation, our continuous improvement efforts, and previously announced cost actions 1 Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Diluted EPS, and Free Cash Flow are non-GAAP metrics. Please see Appendix for definitions and corresponding reconciliations to historical GAAP measures.

2H 2026 Outlook1 • Second-half 2026 addressable market is expected to be down mid-single digits year-over-year, with the broader market expected to begin its recovery in 2027. • Net sales range reflects contribution from American Woodmark for the full second half, partially offset by continued broader end market decline and price and mix dynamics. • Adjusted EBITDA2 range includes $15 million of annual synergy capture over the period and approximately $11 million of IEEPA duty refunds received and expected to be received over the period, partially offset by continued volume and mix headwinds. • Outlook reflects the combined company, with American Woodmark included for the full second half. • Outlook assumes only those tariffs currently in effect and does not reflect any incremental impact from the ongoing conflict in the Middle East. • Continuing a disciplined approach to spending while remaining committed to strategic investments in the business. Mid-Single-Digit % Decline North American Cabinets Market MasterBrand $2.05-$2.11 billion Net Sales $129-149 million Adjusted EBITDA2 ~6.3%-7.1% Adjusted EBITDA Margin2 $(0.05)-0.03 Adjusted Diluted EPS2 $15 million Of Synergy Capture Market Growth Near-Term Expectations 13 1 This outlook information was established by the Company on its second quarter 2026 Earnings Conference Call on August 4, 2026, and it speaks only as of that date. Its inclusion in this presentation does not constitute a reaffirmation or update of such information as of the date hereof or any other date. 2 Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted Diluted EPS are non-GAAP metrics. Please see Appendix for definitions.

Current Tariff Environment Recent Developments • Section 301 Tariff – Tariffs ranging from 10% to 12.5% on imports from approximately 60 trading partners, announced July 23, 2026, replacing 10% global tariff that expired on July 24, 2026. • Section 338 Tariff – Tariffs on certain Canadian imports, taking effect August 19, 2026, imposing an additional 50% duty on certain Canadian-origin wood products and furniture. Continuing Tariffs • Section 232 Tariffs – Including 25% tariff on lumber and wood products, kitchen cabinets and bath vanities. Scheduled increase to 50% tariff rate postponed to January 1, 2027. • Countervailing (CVD) and Antidumping (AD) Duties on Hardwood and Decorative Plywood Imports from Vietnam, Indonesia, and China. COGS Components2 70 - 80% 15 - 20% 45 - 55% 15 - 25% 25 - 35% • Approximately 50% of Materials costs are wood and wood-related materials • Approximately 50% of wood and wood- related materials are domestically sourced Components by Geographical Source2 < 15% Full Year 2026 Tariff Impact Gross Tariff Costs1 5-6% of 2026 Net Sales (Combined company, before mitigation) Estimated Tariff Exposure and Impact Mitigation Expectations 100% of Tariff Costs Offset on Dollar Run Rate Basis by Year End (Mix of supply chain, operational, and price mitigation) 14 1 Gross tariff costs reflect the incremental costs due to tariffs before any mitigation actions, reflect only tariffs in effect as of August 4, 2026, and are based on expected full year MasterBrand net sales, including contribution from American Woodmark beginning on May 28, 2026. 2 Combined company exposure. The mix of COGS components and components by geographical source may change as mitigation efforts take effect.

Leverage, Liquidity, and Cash Generation Leverage Ratios ($ in millions) Q2 2026 Q2 2025 Adjusted EBITDA¹ TTM (Incl. full TTM American Woodmark contribution) $294.5 – Total Debt $1,390.3 $998.7 Net Debt¹ $1,148.7 $878.6 Net Debt to Adjusted EBITDA¹ TTM (Incl. full TTM American Woodmark contribution) 3.9x 2.5x Covenant Net Leverage² (max 3.75x) 3.4x 2.4x Interest Expense $20.8 $18.9 Covenant Interest Coverage² (min 3.0x) 5.1x 5.0x Liquidity and Cash Generation June 28, 2026 Unrestricted Cash $241.6 Revolver Availability $393.9 Total Liquidity $635.5 Net Cash Provided by Operating Activities (YTD) $5.8 Capital Expenditures (YTD) $23.4 Free Cash Flow¹ (YTD) $(17.6) • Retired American Woodmark’s existing debt with $375 million Term Loan A facility, further supporting the combined company’s capital structure and financial flexibility • On track toward target of below 2.0x by the end of 2028 as tariff mitigation, cost synergies, and free cash flow generation build 15 1 Adjusted EBITDA, Net Debt, Free Cash Flow, and related ratios are non-GAAP metrics. Please see Appendix for definitions and corresponding reconciliations to historical GAAP measures. 2 Calculated per the terms of the Company’s credit agreement; differs from the reported ratio primarily due to permitted addbacks.

16 05 Appendix

To supplement the financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) in this earnings release, certain non-GAAP financial measures as defined under SEC rules have been included. It is our intent to provide non-GAAP financial information to enhance understanding of our financial information as prepared in accordance with GAAP. Non-GAAP financial measures should be considered in addition to, not as a substitute for, other financial measures prepared in accordance with GAAP. Our methods of determining these non-GAAP financial measures may differ from the methods used by other companies for these or similar non-GAAP financial measures. Accordingly, these non-GAAP financial measures may not be comparable to measures used by other companies. We use EBITDA, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income margin, adjusted diluted earnings per share (“adjusted diluted EPS”), free cash flow, net debt, and net debt to adjusted EBITDA, which are all non-GAAP financial measures. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. We evaluate the performance of our business based on income before income taxes, but also look to EBITDA as a performance evaluation measure because interest expense is related to corporate functions, as opposed to operations. For that reason, we believe EBITDA is a useful metric to investors in evaluating our operating results. Adjusted EBITDA is calculated by removing the impact of non-operational results and special items from EBITDA. Adjusted EBITDA margin is calculated as adjusted EBITDA divided by net sales. Adjusted net income is calculated by removing the impact of non-operational results, including non-cash amortization expense, which is not deemed to be indicative of the results of current or future operations, and special items from net income. Adjusted net income margin is calculated as adjusted net income divided by net sales. Adjusted diluted EPS is a measure of our diluted earnings per share excluding non-operational results and special items. We believe these non-GAAP measures are useful to investors as they are representative of our core operations and are used in the management of our business, including decisions concerning the allocation of resources and assessment of performance. Free cash flow is defined as cash flow from operations less capital expenditures. We believe that free cash flow is a useful measure to investors because it is a meaningful indicator of cash generated from operating activities available for the execution of our business strategy, and is used in the management of our business, including decisions concerning the allocation of resources and assessment of performance. Net debt is defined as total balance sheet debt less cash and cash equivalents. We believe this measure is useful to investors as it provides a measure to compare debt less cash and cash equivalents across periods on a consistent basis. Net debt to adjusted EBITDA is calculated by dividing net debt by the trailing twelve months adjusted EBITDA. For periods impacted by an acquisition, trailing twelve months adjusted EBITDA includes the full trailing twelve months adjusted EBITDA of the acquired entity. Net debt to adjusted EBITDA is used by management to assess our financial leverage and ability to service our debt obligations. As required by SEC rules, detailed reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure are included in the financial statement section of this earnings release. We have not provided a reconciliation of our fiscal 2026 second half adjusted EBITDA, adjusted EBITDA margin and adjusted diluted EPS guidance because the information needed to reconcile these measures is unavailable due to the inherent difficulty of forecasting the timing or amount of various items that have not yet occurred, including restructuring and other charges, which are excluded from adjusted EBITDA, adjusted EBITDA margin, and adjusted diluted EPS. Additionally, estimating such GAAP measures and providing a meaningful reconciliation consistent with the Company’s accounting policies for future periods requires a level of precision that is unavailable for these future periods and cannot be accomplished without unreasonable effort. Forward-looking non-GAAP measures are estimated consistent with the relevant definitions and assumptions used for historical non-GAAP measures. Non-GAAP Financial Measures 17

Q2 2026 Non-GAAP Reconciliations 18 SUPPLEMENTAL INFORMATION - Quarter-to-date (Unaudited) 13 Weeks Ended 13 Weeks Ended June 28, June 29, (U.S. Dollars presented in millions, except per share amounts and percentages) 2026 2025 1. Reconciliation of Net (Loss) Income to EBITDA to ADJUSTED EBITDA Net (loss) income (GAAP) $ (57.6) $ 37.3 Interest expense 20.8 18.9 Income tax expense 9.1 11.7 Depreciation and amortization expense 34.4 24.2 EBITDA (Non-GAAP Measure) $ 6.7 $ 92.1 [1] Restructuring charges 9.2 6.6 [2] Restructuring-related charges 5.6 4.9 [3] Acquisition-related costs 38.4 1.9 [4] Recognition of pension settlement adjustment — (0.1) [5] Purchase accounting cost of products sold 2.6 — Adjusted EBITDA (Non-GAAP Measure) $ 62.5 $ 105.4 2. Reconciliation of Net (Loss) Income to Adjusted Net Income Net (loss) income (GAAP) $ (57.6) $ 37.3 [1] Restructuring charges 9.2 6.6 [2] Restructuring-related charges 5.6 4.9 [3] Acquisition-related costs 38.4 1.9 [4] Recognition of pension settlement adjustment — (0.1) [5] Purchase accounting cost of products sold 2.6 — [6] Amortization of intangible assets 7.4 6.4 [7] Change in effective tax rate 15.8 — [8] Income tax impact of adjustments (13.8) (4.9) Adjusted Net Income (Non-GAAP Measure) $ 7.6 $ 52.1 3. (Loss) Earnings per Share Summary Diluted (Loss) Earnings Per Share (GAAP) $ (0.38) $ 0.29 Impact of adjustments $ 0.43 $ 0.11 Adjusted Diluted Earnings Per Share (Non-GAAP Measure) $ 0.05 $ 0.40 Weighted average diluted shares outstanding 153.6 129.1 4. Profit Margins Net Sales (GAAP) $ 815.2 $ 730.9 Net (Loss) Income Margin percentage (GAAP) (7.1)% 5.1% Adjusted Net Income Margin percentage (Non-GAAP Measure) 0.9% 7.1% Adjusted EBITDA Margin percentage (Non-GAAP Measure) 7.7% 14.4%

[1] Restructuring charges are nonrecurring costs incurred to implement significant cost reduction initiatives and may consist of workforce reduction costs, facility closure costs, cessation of operations and other costs to maintain certain facilities where operations have ceased, but which we are still responsible for. The restructuring charges for all periods presented primarily include costs related to workforce reductions, lease abandonment and asset disposals for facilities that have been closed, but not yet sold. [2] Restructuring-related charges are expenses directly related to restructuring initiatives that do not represent normal, recurring expenses necessary to operate the business, but cannot be reported as restructuring under GAAP. The restructuring-related charges for all periods presented primarily include losses on disposal of inventories from exiting product lines, losses on the sale of facilities closed as a result of restructuring actions and costs resulting from the redeployment of equipment within the manufacturing footprint. [3] Acquisition-related costs are transaction and integration costs, including legal, accounting and other professional fees, severance, stock-based compensation and other integration related costs. These charges are primarily recorded within selling, general and administrative expenses within the Condensed Consolidated Statements of Income. Acquisition-related costs are significantly impacted by the timing and complexity of the underlying acquisition related activities and are not indicative of the Company’s ongoing operating performance. The acquisition-related costs incurred in the thirteen weeks ended June 28, 2026 are primarily associated with the acquisition of American Woodmark, which closed on May 28, 2026. Costs are comprised primarily of severance costs, including accelerated share-based compensation, and professional fees. The acquisition-related costs incurred in the thirteen weeks ended June 29, 2025 are associated with the acquisition of Supreme Cabinetry Brands, Inc., which was announced in the second quarter of fiscal 2024 and closed early in the third quarter of fiscal 2024. Costs are comprised primarily of professional fees. Certain of the acquisition-related costs incurred are deemed non-deductible for U.S. tax purposes. The tax impact of these non-deductible acquisition-related costs was $2.0 million for the thirteen weeks ended June 28, 2026. For the thirteen weeks ended June 29, 2025, all acquisition-related costs were deductible. These items are not deemed indicative of ongoing operations and have been excluded from the income tax impact of adjustments for the relevant periods. [4] We exclude the impact of actuarial gains and losses related to our U.S. defined benefit pension plan as they are not deemed indicative of future operations. In 2024, the Company made the decision to terminate our defined benefit pension plan. [5] Purchase accounting cost of products sold relates to the fair market value adjustment required under GAAP for inventory obtained in the acquisition of American Woodmark, $2.6 million of which was sold in the second quarter subsequent to the transaction close on May 28, 2026. [6] We add back amortization of intangible assets in calculating adjusted net income and adjusted diluted EPS for all periods presented. Non-cash amortization expenses are not indicative of the Company’s ongoing operations. [7] Change in effective tax rate represents catch-up tax expense recorded in the quarter to reflect a change in the estimated annual effective tax rate and is not indicative of future operating results. The Company determines its interim tax provision using an estimated annual effective tax rate methodology. In the second quarter, an updated full-year pretax income forecast resulted in a significant change to the estimated annual effective tax rate compared with the first quarter, which drove the catch-up tax expense recorded in the quarter. As a result of this adjustment, the sum of quarterly non-GAAP net income reported does not equal the year-to-date non-GAAP net income reported herein. [8] In calculating adjusted net income, the tax effects of each of the adjustments described in Items [1] through [6] above have been reflected using an estimated annual effective income tax rate of 25.0 percent, which includes the impact of recurring permanent differences and state income taxes, but excludes discrete items. Discrete income tax items are adjusted in the period they are identified and may include, but are not limited to, changes in uncertain tax positions, return-to-provision adjustments, the tax effects of certain stock-based compensation, and changes in valuation allowances on deferred tax assets. Management believes this approach provides investors with a clearer understanding of the income tax provision and the estimated annual effective income tax rate applicable to the Company’s ongoing operations. Q2 2026 Non-GAAP Reconciliations Tick Legend 19

TTM Non-GAAP Reconciliations 20 MasterBrand Legacy MasterBrand Legacy MasterBrand Legacy MasterBrand Legacy American Woodmark Consolidated 52 Weeks Ended 26 Weeks Ended 26 Weeks Ended TTM TTM TTM (In millions, except percentages) December 28, 2025 June 29, 2025 June 28, 2026 June 28, 2026 June 28, 2026 June 28, 2026 Reconciliation of Net Income to EBITDA to ADJUSTED EBITDA Net Income (Loss) (GAAP) $ 26.7 $ 50.6 $ (44.1) $ (68.0) $ (265.1) $ (333.1) Interest expense 74.1 38.3 39.2 75.0 17.5 92.5 Income tax expense (benefit) 19.6 15.7 (6.3) (2.4) (17.0) (19.4) Depreciation and amortization expense 93.5 47.0 47.5 94.0 64.2 158.2 EBITDA (Non-GAAP Measure) $ 213.9 $ 151.6 $ 36.3 $ 98.6 $ (200.4) $ (101.8) [1] Restructuring charges 15.2 11.3 16.4 20.3 15.7 36.0 [2] Restructuring-related charges 20.5 5.9 10.2 24.8 0.6 25.4 [3] Acquisition-related costs 28.9 3.5 23.8 49.2 51.0 100.2 [4] Costs, net (recoveries) related to pending insurance claims 3.0 — (0.5) 2.5 — 2.5 [5] Recognition of pension settlement (gains) losses (0.4) 0.2 — (0.6) — (0.6) [6] Purchase accounting cost of products sold — — — — 2.6 2.6 [7] Goodwill impairment — — — — 213.1 213.1 [8] Allowance for credit loss 17.1 — — 17.1 — 17.1 Adjusted EBITDA (Non-GAAP Measure) $ 298.2 $ 172.5 $ 86.2 $ 211.9 $ 82.6 $ 294.5 NET SALES $ 2,734.7 $ 1,391.2 $ 1,307.7 $ 2,651.2 $ 1,433.6 $ 4,084.8 Adjusted EBITDA Margin % 10.9 % 12.4 % 6.6 % 8.0 % 5.8 % 7.2 % Reconciliation of Net Debt to Adjusted EBITDA Current portion of long-term debt $ 18.8 Long-term debt $ 1,371.5 Less: Cash and cash equivalents (241.6) Net Debt $ 1,148.7 Adjusted EBITDA (trailing twelve months) $ 294.5 Net Debt to Adjusted EBITDA 3.9x

TTM Non-GAAP Reconciliations Tick Legend 21 [1] Restructuring charges are nonrecurring costs incurred to implement significant cost reduction initiatives and may consist of workforce reduction costs, facility closure costs, cessation of operations and other costs to maintain certain facilities where operations have ceased, but which we are still responsible for. The restructuring charges for all periods presented primarily include costs related to workforce reductions, lease abandonment and asset disposals for facilities that have been closed, but not yet sold. [2] Restructuring-related charges are expenses directly related to restructuring initiatives that do not represent normal, recurring expenses necessary to operate the business, but cannot be reported as restructuring under GAAP. The restructuring-related charges for all periods presented primarily include losses on disposal of inventories from exiting product lines, losses on the sale of facilities closed as a result of restructuring actions and costs resulting from the redeployment of equipment within the manufacturing footprint. [3] Acquisition-related costs are transaction and integration costs, including legal, accounting and other professional fees, severance, stock-based compensation and other integration related costs. These charges are primarily recorded within selling, general and administrative expenses within the Condensed Consolidated Statements of Income. Acquisition-related costs are significantly impacted by the timing and complexity of the underlying acquisition related activities and are not indicative of the Company’s ongoing operating performance. [4] Costs and recoveries related to insurance claims are excluded as they are not deemed indicative of future operations. The amount recognized in 2025 and the twenty- six weeks ended June 28, 2026 related to costs and recoveries from insurable events that occurred within the manufacturing footprint in 2025. [5] We exclude the impact of actuarial gains and losses related to our U.S. defined benefit pension plan as they are not deemed indicative of future operations. In 2024, the Company made the decision to terminate our defined benefit pension plan. During the twenty-six weeks ended June 29, 2025, the Company recognized a settlement charge of $0.2 million related to the final valuation of the pension plan. [6] Purchase accounting cost of products sold relates to the fair market value adjustment required under GAAP for inventory obtained in the acquisition of American Woodmark, $2.6 million of which was sold in the second quarter subsequent to the transaction close on May 28, 2026. [7] Reflects non-cash goodwill impairment charge recorded prior to the transaction. Historical goodwill of American Woodmark was subsequently eliminated as part of transaction accounting adjustments. [8] Allowance for credit loss represents a one time, non-cash charge resulting from the Company’s assessment of the collectability of a specific customer’s receivable balance of $17.1 million as of December 28, 2025. The reserve relates entirely to sales recognized in 2025 and arose from facts and circumstances specific to this customer.

22 Non-GAAP Reconciliations CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 28, June 29, (U.S. Dollars presented in millions) 2026 2025 ASSETS Current assets Cash and cash equivalents $ 241.6 $ 120.1 Accounts receivable, net 247.2 218.8 Inventories 435.6 277.0 Other current assets 137.3 73.8 TOTAL CURRENT ASSETS 1,061.7 689.7 Property, plant and equipment, net 832.6 478.4 Operating lease right-of-use assets, net 282.6 67.7 Goodwill 1,318.5 1,127.6 Other intangible assets, net 888.6 560.5 Other assets 95.6 33.5 TOTAL ASSETS $ 4,479.6 $ 2,957.4 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 249.5 $ 176.7 Current portion of long-term debt 18.8 — Current operating lease liabilities 56.3 19.3 Other current liabilities 279.1 172.6 TOTAL CURRENT LIABILITIES 603.7 368.6 Long-term debt 1,371.5 998.7 Deferred income taxes 270.9 154.7 Operating lease liabilities 243.2 56.9 Other non-current liabilities 21.6 17.5 TOTAL LIABILITIES 2,510.9 1,596.4 Stockholders' equity 1,968.7 1,361.0 TOTAL EQUITY 1,968.7 1,361.0 TOTAL LIABILITIES AND EQUITY $ 4,479.6 $ 2,957.4 Reconciliation of Net Debt to Adjusted EBITDA Current portion of long-term debt $ 18.8 $ — Long-term debt $ 1,371.5 $ 998.7 Less: Cash and cash equivalents (241.6) (120.1) Net Debt $ 1,148.7 $ 878.6 Adjusted EBITDA for Prior Fiscal Year 298.2 363.6 Less: Prior Period Adjusted EBITDA (172.5) (184.5) Plus: Current Period Adjusted EBITDA 90.5 172.5 Adjusted EBITDA (trailing twelve months) $ 216.2 $ 351.6 Less: American Woodmark Adjusted EBITDA post-acquisition contribution (4.3) — Legacy MasterBrand Adjusted EBITDA (trailing twelve months) $ 211.9 $ — Add: American Woodmark Adjusted EBITDA (trailing twelve months) $ 82.6 $ — Combined Adjusted EBITDA (trailing twelve months) $ 294.5 $ — Combined Net Debt to Adjusted EBITDA 3.9x 2.5x

23 Non-GAAP Reconciliations CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 26 Weeks Ended 26 Weeks Ended June 28, June 29, (U.S. Dollars presented in millions) 2026 2025 OPERATING ACTIVITIES Net (loss) income $ (73.0) $ 50.6 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 57.1 47.0 Restructuring charges, net of cash payments 8.1 5.0 Amortization of finance fees 1.5 1.4 Stock-based compensation 17.0 10.8 Recognition of pension settlement charge — 0.2 Changes in operating assets and liabilities: Accounts receivable (6.3) (26.9) Inventories 7.5 0.2 Other current assets 2.6 0.1 Accounts payable 3.4 (5.5) Accrued expenses and other current liabilities (8.1) (23.2) Other items (4.0) (6.3) NET CASH PROVIDED BY OPERATING ACTIVITIES 5.8 53.4 INVESTING ACTIVITIES Capital expenditures (23.4) (27.9) Proceeds from the disposition of assets 0.3 3.6 Acquisition of business, net of cash acquired (330.3) — NET CASH USED IN INVESTING ACTIVITIES (353.4) (24.3) FINANCING ACTIVITIES Proceeds from revolving credit facility borrowings 150.0 115.0 Issuance of Term Loan A 375.0 — Repayment of revolving credit facility borrowings (110.0) (125.0) Payment of financing fees (1.0) — Repurchase of common stock — (18.1) Payments of employee taxes withheld from share-based awards (7.8) (4.6) Other items (1.6) (1.3) NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES 404.6 (34.0) Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash 0.7 4.0 NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH $ 57.7 $ (0.9) Cash, cash equivalents, and restricted cash at beginning of period $ 183.9 $ 121.6 Cash, cash equivalents, and restricted cash at end of period $ 241.6 $ 120.7 Cash and cash equivalents $ 241.6 $ 120.1 Restricted cash included in other assets — 0.6 Total cash, cash equivalents and restricted cash $ 241.6 $ 120.7 Reconciliation of Free Cash Flow Net cash provided by operating activities $ 5.8 $ 53.4 Less: Capital expenditures (23.4) (27.9) Free cash flow $ (17.6) $ 25.5

Q2 % Change YTD % Change 2025 Net Sales (millions) $ 730.9 $ 1,391.2 Volume (48.0) (6.6)% (90.0) (6.5) % Foreign Currency 0 0.0 % 0.8 0.1 % Net ASP1 6.8 0.9 % 5.7 0.4 % American Woodmark 125.5 17.2 % 125.5 9.0 % 2026 Net Sales (millions) $ 815.2 11.5 % $ 1,433.2 3.0 % 1 Net ASP (Average Selling Price) includes price/mix and other factors that could impact this measure 24 Prior Year to Current Year Net Sales Walk

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