Q1 2026 loss and weaker margins at MasterBrand (NYSE: MBC)

Rhea-AI Filing Summary

MasterBrand, Inc. reported a weak first quarter of 2026, posting net sales of $618.0 million, down 6.4% year-over-year, and shifting to a net loss of $15.4 million with a net margin of (2.5)% versus 2.0% profit a year earlier.

Gross profit fell to $156.6 million and margin compressed to 25.3%, pressured by lower volumes, unfavorable mix, inflation and approximately $25 million of gross tariff costs, partly offset by continuous improvement and tariff mitigation. Adjusted EBITDA dropped to $28.0 million, with margin sliding to 4.5% from 10.2%.

Free cash flow was deeply negative at $(146.2) million, and net debt to trailing adjusted EBITDA rose to 3.7x. Management amended its credit agreement to preserve flexibility and is executing a $30 million cost reduction plan expected to benefit results later in 2026. The company continues to anticipate closing its pending combination with American Woodmark in the second calendar quarter of 2026.

Positive

• None.

Negative

• Profitability and cash flow deterioration: Q1 2026 net sales fell 6.4% to $618.0 million, adjusted EBITDA margin declined from 10.2% to 4.5%, net (loss) income was $(15.4) million, and free cash flow was $(146.2) million, while net debt to adjusted EBITDA rose to 3.7x.

Insights

Equity analyst – building products

Results show margin compression, negative cash flow and higher leverage heading into a major merger.

MasterBrand saw Q1 2026 net sales fall to $618.0 million as softer housing completions and a mid-single-digit market decline reduced volumes. Gross margin shrank to 25.3%, hit by weaker mix, inflation and about $25 million of tariff costs.

Operating profitability deteriorated sharply, with adjusted EBITDA down to $28.0 million and margin at 4.5%. Net (loss) income was $(15.4) million, and free cash flow was $(146.2) million, reflecting weaker earnings and less favorable working capital.

Leverage increased, with net debt of $946.5 million and net debt to trailing adjusted EBITDA at 3.7x. Management aims to offset 100% of tariff dollar costs by the end of 2026 and is implementing a $30 million cost reduction program, while planning to close the American Woodmark merger in the second calendar quarter of 2026.

8-K Event Classification

4 items: 0.5, 2.02, 7.01, 9.01

4 items

Item 0.5 Item 0.5

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

Q1 2026 Net Sales: $618.0 million Q1 2026 Net (Loss) Income: $(15.4) million Q1 2026 Adjusted EBITDA: $28.0 million +5 more

8 metrics

Q1 2026 Net Sales $618.0 million Down 6.4% year-over-year

Q1 2026 Net (Loss) Income $(15.4) million Margin (2.5%) vs 2.0% prior year

Q1 2026 Adjusted EBITDA $28.0 million Margin 4.5% vs 10.2% prior year

Q1 2026 Free Cash Flow $(146.2) million Thirteen weeks ended March 29, 2026

Net Debt $946.5 million As of March 29, 2026

Net Debt to Adjusted EBITDA 3.7x Trailing twelve months ended March 29, 2026

Q2 2026 Adjusted EBITDA Outlook $51–$61 million Guidance range with 7.8–8.8% margin

Expected 2026 Gross Tariff Costs 5–6% of net sales Full year 2026 outlook

Key Terms

Adjusted EBITDA, free cash flow, net debt to adjusted EBITDA, non-GAAP financial measures, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA1 was $28.0 million, compared to $67.1 million in the first quarter of 2025."

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 $(146.2) million for the thirteen weeks ended March 29, 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.

net debt to adjusted EBITDA financial

"the ratio of net debt to adjusted EBITDA1 from the most recent trailing twelve months was 3.7x."

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.

non-GAAP financial measures regulatory

"certain non-GAAP financial measures as defined under SEC rules have been included."

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

tariff mitigation actions financial

"These headwinds were partially offset by continuous improvement initiatives and targeted tariff mitigation actions."

cost reduction initiative financial

"we took decisive action to implement our $30 million cost reduction initiative."

Earnings Snapshot

Net Sales: $618.0 million · Guidance included

Q1 2026

Net Sales $618.0 million -6.4% year-over-year

Net (Loss) Income $(15.4) million from $13.3 million profit prior year

Adjusted EBITDA $28.0 million from $67.1 million prior year

Adjusted EBITDA Margin 4.5% from 10.2% prior year

Guidance

For Q2 2026, MasterBrand guides to a mid- to high-single-digit net sales decline, adjusted EBITDA of $51–$61 million with 7.8–8.8% margin, and adjusted diluted EPS of $0.03–$0.13.

Understanding 8-K Material Events →

FALSE0001941365877622-47823300 Enterprise Parkway, Suite 300BeachwoodOhio00019413652026-05-052026-05-05

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): May 5, 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 May 5, 2026, announcing certain financial and operational results for the fiscal quarter ended March 29, 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 May 5, 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 May 5, 2026
			99.2						Investor Presentation, dated May 5, 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: May 5, 2026						By:			/s/ R. David Banyard, Jr.
						Name:			R. David Banyard, Jr.
						Title:			President & Chief Executive Officer

MasterBrand Reports First Quarter 2026 Financial Results

•Net sales decreased 6.4% year-over-year to $618.0 million

•Net (loss) income margin decreased 450 basis points year-over-year to (2.5)%

•Adjusted EBITDA margin1 decreased 570 basis points year-over-year to 4.5%

•Diluted (loss) earnings per share were $(0.12), compared to $0.10 in the prior year period, adjusted diluted earnings per share1 were $0.06, compared to $0.18 in the prior year period

•Company provides second quarter 2026 financial outlook

BEACHWOOD, Ohio.--(BUSINESS WIRE)--May 5, 2026-- MasterBrand, Inc. (NYSE: MBC, the “Company,” or “MasterBrand”), the largest residential cabinet manufacturer in North America, today announced first quarter 2026 financial results.

“Our first quarter results reflect our disciplined focus on our near-term priorities. We delivered performance in line with our outlook while managing cost pressures and navigating an uncertain macroeconomic environment that continued to weigh on demand,” said Dave Banyard, President and Chief Executive Officer. "We anticipate our pending combination with American Woodmark to close in the second calendar quarter of 2026, and we remain confident that we are building the right strategic and financial foundation to position MasterBrand for future growth as demand recovers."

First Quarter 2026

Net sales were $618.0 million, a decrease of 6.4% compared to the first quarter of 2025, following a mid-single-digit market decline and a slower pace of housing completions.

Gross profit was $156.6 million, compared to $202.2 million in the prior year. Gross profit margin decreased 530 basis points to 25.3% on lower volume and the related unfavorable fixed cost leverage and unfavorable product mix. Material, personnel and utility inflation, combined with the impact of tariffs, contributed to overall margin pressure. These headwinds were partially offset by continuous improvement initiatives and targeted tariff mitigation actions.

Gross tariff costs were approximately $25 million in the first quarter, and mitigation plans continue to progress.

Net (loss) income was $(15.4) million, compared to $13.3 million in the first quarter of 2025, and net (loss) income margin was (2.5)%, compared to net income margin of 2.0% in the prior year, as a result of lower gross profit and higher deal-related SG&A expenses, partially offset by the initial benefits of cost actions taken in the quarter.

Adjusted EBITDA1 was $28.0 million, compared to $67.1 million in the first quarter of 2025. Adjusted EBITDA margin1 decreased 570 basis points to 4.5%, compared to 10.2% in the prior year, driven by lower volume and the related unfavorable fixed cost leverage, unfavorable mix, inflation and tariffs, partially offset by continuous improvement efforts net of inflation, cost actions implemented in the quarter and tariff mitigation efforts.

Diluted (loss) earnings per share were $(0.12) compared to $0.10 in the first quarter of 2025. Adjusted diluted earnings per share1 were $0.06 compared to $0.18 in the first quarter of 2025.

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 March 29, 2026, the Company had $138.4 million in cash and $332.3 million of availability under its revolving credit facility. Additionally, total debt was $1,084.9 million, net debt1 was $946.5 million and the ratio of net debt to adjusted EBITDA1 from the most recent trailing twelve months was 3.7x. During the quarter, the Company proactively amended its credit agreement to preserve financial flexibility as it navigates near-term macroeconomic headwinds while continuing to meet all debt obligations.

Net cash used in operating activities was $(133.0) million for the thirteen weeks ended March 29, 2026, compared to $(31.4) million for the thirteen weeks ended March 30, 2025. Free cash flow1 was $(146.2) million for the thirteen weeks ended March 29, 2026, compared to $(41.2) million for the thirteen weeks ended March 30, 2025. The declines in net cash provided by operating activities and free cash flow were driven by lower net income versus the prior year, less favorable movements in working capital and an increase in our income tax receivable.

No share repurchases were made during the first quarter of 2026. The Company is restricted from repurchasing shares under its merger agreement with American Woodmark until the close of the merger.

Second Quarter 2026 Financial Outlook

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

•Net sales year-over-year decrease of mid-single-digit to high-single-digit percentage

•Adjusted EBITDA1,2 in the range of $51 to $61 million, with related adjusted EBITDA margin1,2 in the range of 7.8% to 8.8%

•Adjusted diluted earnings per share1,2 in the range of $0.03 to $0.13

Adjusted diluted earnings per share1 guidance for the quarter reflects a higher-than-normal degree of uncertainty due to potential variability in the effective tax rate. This is driven by low pre-tax income, which amplifies the impact of non-deductible deal-related expenses relating to the pending merger with American Woodmark, as well as other potential discrete tax items. As a result, the actual effective tax rate and adjusted diluted earnings per share1 may differ materially from the guidance provided.

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

•Gross tariff costs of approximately 5-6% of 2026 net sales

•Interest expense to be flat to down year-over-year

•Free cash flow1 to be in excess of 2026 net income

The Company is not reiterating its prior outlook for effective tax rate improvement for the full year of 2026. MasterBrand now expects its full year 2026 effective tax rate to be elevated relative to the prior year, primarily reflecting the impact of non-deductible deal-related expenses associated with the pending merger with American Woodmark.

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 fiscal second quarter 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.

2

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 the 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. Additionally, this outlook does not reflect any anticipated financial benefits from the pending merger with American Woodmark, nor does it include expected transaction or integration-related costs.

"While first quarter results reflect the challenging demand and cost environment we are navigating, our operational actions are progressing as planned," said Andi Simon, Executive Vice President and Chief Financial Officer. "Continuous improvement efforts contributed meaningfully to the quarter, our tariff mitigation actions are taking hold, and we took decisive action to implement our $30 million cost reduction initiative. We expect the financial benefit of these cost actions to build through the remainder of the year, with the majority weighted to the second half."

3

Conference Call Details

The Company will hold a live conference call and webcast at 4:30 p.m. ET today, May 5, 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 May 19, 2026. To access the replay, please dial (877) 660-6853 (U.S.) or +1 (201) 612-7415 (international). The replay passcode is 13759256. 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. Net debt to adjusted EBITDA is used by management to assess our financial leverage and ability to service our debt obligations.

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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 second quarter 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, 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, 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 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.

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

5

•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;

•Changes in the anticipated timing for closing the combination of MasterBrand with American Woodmark (the “Transaction”);

•Delays in obtaining, adverse conditions contained in, or the inability to obtain necessary regulatory approvals or complete regulatory reviews required to complete the Transaction;

•The outcome of any legal proceedings that may be instituted against MasterBrand or American Woodmark following the announcement of the Transaction;

•The inability to complete the Transaction;

•The inability to recognize, or delays in obtaining, anticipated benefits of the Transaction, including synergies, which may be affected by, among other things, competition, the ability of the combined company to integrate operations in a successful manner and in the expected time period, grow and manage growth profitably, maintain relationships with customers and suppliers and retain key employees;

•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 during the pendency of or following the Transaction;

•Diversion of management time on Transaction-related issues;

•The reaction of customers and other persons to the Transaction; and

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

6

Investor Relations

Investorrelations@masterbrand.com

Media Contact

Media@masterbrand.com

Source: MasterBrand, Inc.

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CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME
(Unaudited)
												13 Weeks Ended
(U.S. Dollars presented in millions, except per share amounts)																		March 29, 2026						March 30, 2025
NET SALES																		$	618.0					$	660.3
Cost of products sold																		461.4						458.1
GROSS PROFIT																		156.6						202.2
Gross Profit Margin																		25.3		%				30.6		%
Selling, general and administrative expenses																		155.9						154.0
Amortization of intangible assets																		6.4						6.4
Restructuring charges																		12.8						4.7
OPERATING (LOSS) INCOME																		(18.5)						37.1
Interest expense																		18.4						19.4
Other (income) expense, net																		(0.8)						0.4
(LOSS) INCOME BEFORE TAXES																		(36.1)						17.3
Income tax (benefit) expense																		(20.7)						4.0
NET (LOSS) INCOME																		$	(15.4)					$	13.3
Average Number of Shares of Common Stock Outstanding
Basic																		127.5						127.5
Diluted																		127.5						130.7
(Loss) Earnings Per Common Share
Basic																		$	(0.12)					$	0.10
Diluted																		$	(0.12)					$	0.10

8

SUPPLEMENTAL INFORMATION
(Unaudited)
						13 Weeks Ended						13 Weeks Ended
						March 29,						March 30,
(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)						$	(15.4)					$	13.3
Interest expense						18.4						19.4
Income tax (benefit) expense						(20.7)						4.0
Depreciation expense						16.3						16.4
Amortization expense						6.4						6.4
EBITDA (Non-GAAP Measure)						$	5.0					$	59.5
[1] Restructuring charges						12.8						4.7
[2] Restructuring-related charges						5.1						1.0
[3] Acquisition-related costs						5.6						1.6
[4] Insurance recoveries						(0.5)						—
[5] Recognition of pension settlement charge						—						0.3
Adjusted EBITDA (Non-GAAP Measure)						$	28.0					$	67.1
2. Reconciliation of Net (Loss) Income to Adjusted Net Income
Net (Loss) Income (GAAP)						$	(15.4)					$	13.3
[1] Restructuring charges						12.8						4.7
[2] Restructuring-related charges						5.1						1.0
[3] Acquisition-related costs						5.6						1.6
[4] Insurance recoveries						(0.5)						—
[5] Recognition of pension settlement charge						—						0.3
[6] Amortization expense						6.4						6.4
[7] Income tax impact of adjustments						(6.0)						(3.5)
Adjusted Net Income (Non-GAAP Measure)						$	8.0					$	23.8
3. (Loss) Earnings per Share Summary
Diluted (Loss) Earnings Per Share (GAAP)						$	(0.12)					$	0.10
Impact of adjustments						$	0.18					$	0.08
Adjusted Diluted Earnings Per Share (Non-GAAP Measure)						$	0.06					$	0.18
Weighted average diluted shares outstanding						127.5						130.7
4. Profit Margins
Net Sales (GAAP)						$	618.0					$	660.3
Net (Loss) Income margin percentage (GAAP)						(2.5)		%				2.0		%
Adjusted Net Income margin percentage (Non-GAAP Measure)						1.3		%				3.6		%
Adjusted EBITDA margin percentage (Non-GAAP Measure)						4.5		%				10.2		%

9

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 weeks ended March 30, 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. The acquisition-related costs in the thirteen weeks ended March 29, 2026 are primarily associated with the pending acquisition of American Woodmark, which is expected to close in the second calendar quarter of 2026. Costs for both acquisitions 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 $1.4 million for the thirteen weeks ended March 29, 2026. For the thirteen weeks ended March 30, 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 thirteen weeks ended March 29, 2026 related to recoveries of costs from insurable events that occurred within the manufacturing footprint in 2025. We are still pursuing insurance recoveries and any additional funds received will be deducted from Adjusted EBITDA in future periods.

[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 thirteen weeks ended March 30, 2025, the Company recognized a settlement charge of $0.3 million related to the final valuation of the pension plan.

[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] 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.

10

CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
						March 29,						March 30,
(U.S. Dollars presented in millions)						2026						2025
ASSETS
Current assets
Cash and cash equivalents						$	138.4					$	113.5
Accounts receivable, net						217.7						221.1
Inventories						271.7						288.7
Other current assets						107.1						65.8
TOTAL CURRENT ASSETS						734.9						689.1
Property, plant and equipment, net						494.0						476.2
Operating lease right-of-use assets, net						182.7						63.0
Goodwill						1,127.1						1,126.1
Other intangible assets, net						540.8						565.3
Other assets						37.2						36.1
TOTAL ASSETS						$	3,116.7					$	2,955.8
LIABILITIES AND EQUITY
Current liabilities
Accounts payable						$	175.1					$	182.4
Current operating lease liabilities						24.3						19.2
Other current liabilities						154.5						160.9
TOTAL CURRENT LIABILITIES						353.9						362.5
Long-term debt						1,084.9						1,058.2
Deferred income taxes						166.4						157.5
Other postretirement plan liabilities						3.8						3.6
Operating lease liabilities						171.1						52.2
Other non-current liabilities						16.1						15.1
TOTAL LIABILITIES						1,796.2						1,649.1
Stockholders' equity						1,320.5						1,306.7
TOTAL EQUITY						1,320.5						1,306.7
TOTAL LIABILITIES AND EQUITY						$	3,116.7					$	2,955.8
Reconciliation of Net Debt to Adjusted EBITDA
Long-term debt						$	1,084.9					$	1,058.2
Less: Cash and cash equivalents						(138.4)						(113.5)
Net Debt						$	946.5					$	944.7
Adjusted EBITDA for Prior Fiscal Year						298.2						363.6
Less: Prior Period Adjusted EBITDA						(67.1)						(79.4)
Plus: Current Period Adjusted EBITDA						28.0						67.1
Adjusted EBITDA (trailing twelve months)						$	259.1					$	351.3
Net Debt to Adjusted EBITDA						3.7x						2.7x

11

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
						13 Weeks Ended						13 Weeks Ended
						March 29,						March 30,
(U.S. Dollars presented in millions)						2026						2025
OPERATING ACTIVITIES
Net (loss) income						$	(15.4)					$	13.3
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation						16.3						16.4
Amortization of intangibles						6.4						6.4
Restructuring charges, net of cash payments						5.8						3.1
Amortization of finance fees						0.7						0.7
Stock-based compensation						4.3						5.1
Recognition of pension settlement charge						—						0.3
Changes in operating assets and liabilities:
Accounts receivable						(67.6)						(30.0)
Inventories						(2.8)						(12.2)
Other current assets						(17.2)						5.9
Accounts payable						(24.6)						(0.1)
Accrued expenses and other current liabilities						(39.4)						(38.0)
Other items						0.5						(2.3)
NET CASH USED IN OPERATING ACTIVITIES						(133.0)						(31.4)
INVESTING ACTIVITIES
Capital expenditures						(13.2)						(9.8)
Proceeds from the disposition of assets						0.2						—
NET CASH USED IN INVESTING ACTIVITIES						(13.0)						(9.8)
FINANCING ACTIVITIES
Proceeds from revolving credit facility borrowings						150.0						95.0
Repayment of revolving credit facility borrowings						(40.0)						(45.0)
Payment of financing fees						(1.0)						—
Repurchase of common stock						—						(11.4)
Payments of employee taxes withheld from share-based awards						(6.7)						(4.5)
Other items						(0.7)						(0.6)
NET CASH PROVIDED BY FINANCING ACTIVITIES						101.6						33.5
Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash						(1.1)						0.2
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH						$	(45.5)					$	(7.5)
Cash, cash equivalents, and restricted cash at beginning of period						$	183.9					$	121.6
Cash, cash equivalents, and restricted cash at end of period						$	138.4					$	114.1
Cash and cash equivalents						$	138.4					$	113.5
Restricted cash included in other assets						—						0.6
Total cash, cash equivalents and restricted cash						$	138.4					$	114.1
Reconciliation of Free Cash Flow
Net cash used in operating activities						$	(133.0)					$	(31.4)
Less: Capital expenditures						(13.2)						(9.8)
Free cash flow						$	(146.2)					$	(41.2)

12

1 Q1 2026 Investor Presentation May 5, 2026

2 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

3 MasterBrand Overview #1 North American residential cabinet manufacturer Key brands 1 Based on 2025 Net Sales 2 Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP metrics. Please see Appendix for definitions and corresponding reconciliations to historical GAAP measures MasterBrand at a glance 1 ~60% Net sales to R&R 7,900+ Dealer network $298 million 2025 Adjusted EBITDA2 12,500+ Employees 20+ Manufacturing facilities MasterBrand key financial metrics 1 $2.7 billion 2025 Net sales 2

4 The MasterBrand Story Building great experiences together O U R P U R P O S E Lead through Lean Engage teams and foster problem-solving Align to Grow Deliver on the unique needs of each customer Tech Enabled Drive profitable growth and transform the way we work through digital, data, and analytics 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 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 PRE-SPIN-OFF TODAY Industry Leader Largest distribution network Product & Brand Portfolio Leader amongst peers Operational Excellence At Scale

5

6 Industry Leading Customer Base MasterBrand channel mix 1 55% Dealer: provide customer education, service and design consultation 32% Retail: common box products that offer some customization along with in-stock, semi- custom and premium products 13% Builder: sold directly and highly correlated to single-family housing starts Dealer Retail Builder MasterBrand has a leadership position across channels… Overview of primary sales channels in the US and Canada: Dealer Channel Retailers / Home Center Channel Builder Channel Primary End Market Exposure R&R / New Home Construction R&R New Home Construction Customer Concentration Low High Medium Fragmented network: Requires broad products and regional presence to address and allows for a variety of consumer touch points Multi-brand strategy: Dealers offer multiple brands, enabling trade up and down to drive sales High retention rate: Physical showroom investments and sales training drive retention  …and why it matters 1 Based on 2025 Net Sales

7 Multi-Branded Strategy Across Price Points and Products

8 + + + Integrated Manufacturing Network & Strong Track Record of Continuous Improvement O L D M O D E L : 10+ product platform / plant silos N E W M O D E L : 4 construction-specific product platforms Assets Capabilities Product Specs Networked manufactured footprint Capability duplication aligned to demand Aligned product continuum

9 Brings Together Two Highly Complementary American Businesses, Benefitting Customers, Associates, and Shareholders Fortifies Financial Profile and Enhances Capital Flexibility Expects to unlock Meaningful Cost Synergies and Commercial Growth Opportunities to Accelerate and Amplify Value Creation • Expects annual run-rate cost synergies of $90M by the end of year three, following close1 • Anticipates accretion to adjusted diluted EPS in year two, following close For additional details, please see the full transaction presentation on the MasterBrand investor relations website Enhances the Industry’s Most Diversified Portfolio of World-Class Cabinet Brands and Products Covering the Full Price Spectrum 1 Synergy expectations are based on assumptions and analysis as of the merger announcement. Following close, estimates will be reassessed in the context of the current operating environment, and updated guidance is expected to be provided as appropriate MasterBrand + American Woodmark: Compelling Strategic Combination with Clear Value Drivers

10 • Top-line performance was primarily the result of a mid-single-digit market decline and a slower pace of home completions. • The y-o-y decline in net income was driven by lower gross profit and higher deal-related SG&A expenses, partially offset by the initial benefits of cost actions taken in the quarter. • Adjusted EBITDA margin1 declined primarily due to lower volume and the related unfavorable fixed cost leverage, unfavorable mix, inflation and tariffs, partially offset by continuous improvement efforts net of inflation, cost actions implemented in the quarter and tariff mitigation efforts. Financial Results 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 ($ in millions, except per share amounts) Q1 2026 Q1 2025 B/(W) Net Sales $ 618.0 $ 660.3 (6.4) % Gross Profit $ 156.6 $ 202.2 (22.6) % Gross Profit Margin 25.3 % 30.6 % (530) bps SG&A $ 155.9 $ 154.0 1.2 % Net (loss) Income $ (15.4) $ 13.3 (215.8) % Net (loss) Income Margin (2.5) % 2.0 % (450) bps Adjusted EBTIDA1 $ 28.0 $ 67.1 (58.3) % Adjusted EBITDA Margin1 4.5 % 10.2 % (570) bps Diluted (Loss) Earnings Per Share(GAAP) $ (0.12) $ 0.10 (220.0) % Adjusted Diluted EPS1 $ 0.06 $ 0.18 (66.7) % Net Cash Used In Operating Activities (YTD) $ (133.0) $ (31.4) (323.6) % Free Cash Flow1 (YTD) $ (146.2) $ (41.2) (254.9) % Q1 2026 Highlights

11 Second Quarter 2026 Outlook1 • Q2 2026 end markets are expected to be down mid- to high-single- digits year-over-year. • Net Sales and Adjusted EBITDA2 ranges primarily reflect an anticipated modest improvement in product mix, further flow through from previously implemented pricing actions, including tariff related pricing, as well as the timing of benefit realization from our tariff mitigation and cost rationalization actions. • Outlook reflects typical first quarter to second quarter seasonal volume uplift. • Adjusted diluted EPS2 guidance reflects a higher-than-normal degree of uncertainty due to potential variability in the effective tax rate. • Outlook only reflects tariffs in effect as of May 5, 2026, and does not reflect any other potential tariffs or tariff-related impacts on company costs or end market demand. • Outlook does not reflect any anticipated financial benefits from the pending merger with American Woodmark and does not include expected transaction or integration-related costs. • Continuing a disciplined approach to spending while remaining committed to strategic investments in the business. Mid- to High- Single-Digit % Decline North American Cabinets Market MasterBrand Mid- to High-Single-Digit % Decline Net Sales $51-$61 million Adjusted EBITDA2 ~7.8%-8.8% Adjusted EBITDA Margin2 $0.03-$0.13 Adjusted Diluted EPS2 S T R O N G B A L A N C E S H E E T W I T H F I N A N C I A L F L E X I B I L I T Y 1 This outlook information was established by the Company on its first quarter 2026 Earnings Conference Call on May 5, 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 Market Growth Near-Term Expectations

12 Current Tariff Environment 1 Gross tariff costs reflect the total incremental cost due to tariffs before any mitigation actions, and reflect only tariffs in effect as of May 5, 2026 2 The mix of COGS components and components by geographical source may change as mitigation efforts take effect • Section 122 Tariff – General 10% global tariff replacing the Liberation Day Tariffs following the Supreme Court's decision in February. Scheduled to expire July 2026, with further changes anticipated thereafter. • 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. • MasterBrand expects to offset 100% of tariff dollar costs on a run-rate basis by the end of 2026. 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 (before mitigation) Estimated Tariff Exposure and Impact

13 05 Appendix

14 To supplement the financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) in this presentation, 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. 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 appendix of this presentation. We have not provided a reconciliation of our fiscal second quarter 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, 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

15 Note: See tick legend on slide 16 Fiscal Year Ended (In millions, except percentages) December 27, 2020 December 26, 2021 December 25, 2022 December 31, 2023 December 29, 2024 December 28, 2025 Reconciliation of Net Income to EBITDA to ADJUSTED EBITDA Net Income (GAAP) $ 145.7 $ 182.6 $ 155.4 $ 182.0 $ 125.9 $ 26.7 Related party interest income, net (2.4) (4.6) (12.9) — — — Interest expense — — 2.2 65.2 74.0 74.1 Income tax expense 50.5 55.7 58.0 56.7 42.4 19.6 Depreciation expense 48.0 44.4 47.3 49.0 57.1 67.9 Amortization expense 17.8 17.8 17.2 15.3 20.2 25.6 EBITDA (Non-GAAP Measure) $ 259.6 $ 295.9 $ 267.2 $ 368.2 $ 319.6 $ 213.9 [1] Acquisition-related costs — — — — 25.4 28.9 [2] Restructuring charges 6.1 4.2 25.1 10.1 18.0 15.2 [3] Restructuring-related charges (adjustments) 5.3 3.7 12.7 (0.2) — 20.5 [4] Gain on sale of asset — — — — (4.3) — [5] Recognition of actuarial losses and pension settlement losses (gains) — — 0.2 2.9 2.7 (0.4) [6] Purchase accounting cost of products sold — — — — 2.2 — [7] Separation costs — — 15.4 2.4 — — [8] Asset impairment charges 9.5 — 46.4 — — — [9] Costs related to pending insurance claims, net of insurance proceeds — — — — — 3.0 [10] Allowance for credit loss — — — — — 17.1 Adjusted EBITDA (Non-GAAP Measure) $ 280.5 $ 303.8 $ 367.0 $ 383.4 $ 363.6 $ 298.2 NET SALES $ 2,469.3 $ 2,855.3 $ 3,275.5 $ 2,726.2 $ 2,700.4 $ 2,734.7 Net Income Margin 6 % 6 % 5 % 7 % 5 % 1 % Adjusted EBITDA Margin % 11 % 11 % 11 % 14 % 13 % 11 % Full Year Non-GAAP Reconciliations

16 [1] 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 2024 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. The acquisition-related costs in 2025 are primarily associated with the pending acquisition of American Woodmark, which is expected to close in the second calendar quarter of 2026. Costs for both acquisitions are comprised primarily of professional fees. [2] 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. The fiscal 2024 restructuring charges also include an asset impairment charge associated with the decision to exit a leased manufacturing facility.   [3] Restructuring-related charges (adjustments) 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. The restructuring-related adjustments in fiscal 2023 are recoveries of previously recorded restructuring-related charges resulting from changes in estimates of accruals recorded in prior periods.    [4] Gain on sale of asset relates to a gain resulting from the sale of facilities and land on December 12, 2024. The location was previously closed in conjunction with the consolidation of our warehouse facilities to enable efficiencies and increase annual savings. This facility sold for a purchase price of $6.6 million, resulting in a $4.3 million gain recognized as a separate component of non-operating income in the Condensed Consolidated Statements of Income.   [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 addition, during 2024, the Company offered a lump- sum benefit payout option to certain plan participants related to the decision to terminate our defined benefit pension plan, resulting in a $2.9 million non-cash settlement charge. During 2025, the Company recognized a net settlement gain of $0.4 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 Supreme Cabinetry Brands, Inc. All inventory obtained was sold in the third quarter of 2024.   [7] Separation costs represent one-time costs incurred directly by MasterBrand related to the separation from Fortune Brands.   [8] We exclude the impact of pre-tax impairment charges related to impairments of indefinite-lived tradenames. [9] Costs related to pending insurance claims, net of insurance proceeds, are excluded as they are not deemed indicative of future operations. The costs recognized in 2025 are related to the incurrence of insurable events within the manufacturing footprint. We are pursuing insurance recoveries and any funds received will be used to offset these costs in future periods. [10] 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. The charge is recorded within selling, general and administrative expense in the Condensed Consolidated Statements of Income and is not indicative of the Company’s ongoing operating performance. FY Non-GAAP Reconciliations Tick Legend

17 Note: See tick legend on slide 19 SUPPLEMENTAL INFORMATION (Unaudited) 13 Weeks Ended 13 Weeks Ended March 29, March 30, (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) $ (15.4) $ 13.3 Interest expense 18.4 19.4 Income tax (benefit) expense (20.7) 4.0 Depreciation expense 16.3 16.4 Amortization expense 6.4 6.4 EBITDA (Non-GAAP Measure) $ 5.0 $ 59.5 [1] Restructuring charges 12.8 4.7 [2] Restructuring-related charges 5.1 1.0 [3] Acquisition-related costs 5.6 1.6 [4] Insurance recoveries (0.5) — [5] Recognition of pension settlement charge — 0.3 Adjusted EBITDA (Non-GAAP Measure) $ 28.0 $ 67.1 2. Reconciliation of Net (Loss) Income to Adjusted Net Income Net (Loss) Income (GAAP) $ (15.4) $ 13.3 [1] Restructuring charges 12.8 4.7 [2] Restructuring-related charges 5.1 1.0 [3] Acquisition-related costs 5.6 1.6 [4] Insurance recoveries (0.5) — [5] Recognition of pension settlement charge — 0.3 [6] Amortization expense 6.4 6.4 [7] Income tax impact of adjustments (6.0) (3.5) Adjusted Net Income (Non-GAAP Measure) $ 8.0 $ 23.8 3. (Loss) Earnings per Share Summary Diluted (Loss) Earnings Per Share (GAAP) $ (0.12) $ 0.10 Impact of adjustments $ 0.18 $ 0.08 Adjusted Diluted Earnings Per Share (Non-GAAP Measure) $ 0.06 $ 0.18 Weighted average diluted shares outstanding 127.5 130.7 4. Profit Margins Net Sales (GAAP) $ 618.0 $ 660.3 Net (Loss) Income Margin percentage (GAAP) (2.5) % 2.0 % Adjusted Net Income Margin percentage (Non-GAAP Measure) 1.3 % 3.6 % Adjusted EBITDA Margin percentage (Non-GAAP Measure) 4.5 % 10.2 % YTD 2026 Non-GAAP Reconciliations

18 [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 weeks ended March 30, 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. The acquisition-related costs in the thirteen weeks ended March 29, 2026 are primarily associated with the pending acquisition of American Woodmark, which is expected to close in the second calendar quarter of 2026. Costs for both acquisitions 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 $1.4 million for the thirteen weeks ended March 29, 2026. For the thirteen weeks ended March 30, 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 thirteen weeks ended March 29, 2026 related to recoveries of costs from insurable events that occurred within the manufacturing footprint in 2025. We are still pursuing insurance recoveries and any additional funds received will be deducted from Adjusted EBITDA in future periods. [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 thirteen weeks ended March 30, 2025, the Company recognized a settlement charge of $0.3 million related to the final valuation of the pension plan. [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] 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. YTD 2026 Non-GAAP Reconciliations Tick Legend

19 CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 29, March 30, (U.S. Dollars presented in millions) 2026 2025 ASSETS Current assets Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 138.4 $ 113.5 Accounts receivable, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 217.7 221.1 Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 271.7 288.7 Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107.1 65.8 TOTAL CURRENT ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 734.9 689.1 Property, plant and equipment, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 494.0 476.2 Operating lease right-of-use assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . 182.7 63.0 Goodwill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,127.1 1,126.1 Other intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 540.8 565.3 Other assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37.2 36.1 TOTAL ASSETS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,116.7 $ 2,955.8 LIABILITIES AND EQUITY Current liabilities Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 175.1 $ 182.4 Current operating lease liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.3 19.2 Other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154.5 160.9 TOTAL CURRENT LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353.9 362.5 Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,084.9 1,058.2 Deferred income taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166.4 157.5 Other postretirement plan liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.8 3.6 Operating lease liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171.1 52.2 Other non-current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.1 15.1 TOTAL LIABILITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,796.2 1,649.1 Stockholders' equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,320.5 1,306.7 TOTAL EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,320.5 1,306.7 TOTAL LIABILITIES AND EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,116.7 $ 2,955.8 Reconciliation of Net Debt to Adjusted EBITDA Long-term debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,084.9 1,058.2 Less: Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (138.4) (113.5) Net Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 946.5 $ 944.7 Adjusted EBITDA for Prior Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 298.2 363.6 Less: Prior Period Adjusted EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (67.1) (79.4) Plus: Current Period Adjusted EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28.0 67.1 Adjusted EBITDA (trailing twelve months) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 259.1 $ 351.3 Net Debt to Adjusted EBITDA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.7x 2.7x Non-GAAP Reconciliations

20 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 13 Weeks Ended 13 Weeks Ended March 29, March 30, (U.S. Dollars presented in millions) 2026 2025 OPERATING ACTIVITIES Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (15.4) $ 13.3 Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.3 16.4 Amortization of intangibles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.4 6.4 Restructuring charges, net of cash payments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.8 3.1 Amortization of finance fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.7 0.7 Stock-based compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.3 5.1 Recognition of pension settlement charge . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 0.3 Changes in operating assets and liabilities: Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (67.6) (30.0) Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (2.8) (12.2) Other current assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (17.2) 5.9 Accounts payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (24.6) (0.1) Accrued expenses and other current liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (39.4) (38.0) Other items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.5 (2.3) NET CASH USED IN OPERATING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (133.0) (31.4) INVESTING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (13.2) (9.8) Proceeds from the disposition of assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.2 — NET CASH USED IN INVESTING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (13.0) (9.8) FINANCING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Proceeds from revolving credit facility borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.0 95.0 Repayment of revolving credit facility borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (40.0) (45.0) Payment of financing fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1.0) — Repurchase of common stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — (11.4) Payments of employee taxes withheld from share-based awards . . . . . . . . . . . . . . . . . . . . . (6.7) (4.5) Other items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (0.7) (0.6) NET CASH PROVIDED BY FINANCING ACTIVITIES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101.6 33.5 Effect of foreign exchange rate changes on cash, cash equivalents, and restricted cash . . . . . (1.1) 0.2 NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH . . . . . . . . . . . . . . . . . $ (45.5) $ (7.5) Cash, cash equivalents, and restricted cash at beginning of period . . . . . . . . . . . . . . . . . . . . . . . . . $ 183.9 $ 121.6 Cash, cash equivalents, and restricted cash at end of period . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 138.4 $ 114.1 Reconciliation of Free Cash Flow Net cash used in operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (133.0) $ (31.4) Less: Capital expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (13.2) (9.8) Free cash flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (146.2) $ (41.2) Non-GAAP Reconciliations

21 YTD % Change 2025 Net Sales (millions) $ 660.3 Volume (42.0) (6.4) % Net ASP1 (1.1) (0.2) % Foreign Currency 0.8 0.1 % 2026 Net Sales (millions) $ 618.0 (6.4) % 1 Net ASP (Average Selling Price) includes price/mix and other factors that could impact this measure Prior Year to Current Year Net Sales Walk

FAQ

How did MasterBrand (MBC) perform financially in Q1 2026?

MasterBrand reported net sales of $618.0 million, down 6.4% year-over-year, and a net loss of $(15.4) million. Gross margin declined to 25.3%, and adjusted EBITDA fell to $28.0 million with a margin of 4.5%, reflecting weaker demand and cost pressures.

What happened to MasterBrand’s margins and earnings versus Q1 2025?

Gross profit margin declined from 30.6% to 25.3%, and adjusted EBITDA margin decreased from 10.2% to 4.5%. Net results moved from $13.3 million of income to a $(15.4) million loss, driven by lower volume, unfavorable mix, inflation and higher deal-related expenses.

What is MasterBrand’s leverage and liquidity position as of March 29, 2026?

As of March 29, 2026, MasterBrand had $138.4 million in cash, $332.3 million of revolver availability, and total debt of $1,084.9 million. Net debt was $946.5 million, with net debt to trailing adjusted EBITDA at 3.7x, reflecting weaker earnings.

How did tariffs affect MasterBrand’s Q1 2026 results and 2026 outlook?

Gross tariff costs were about $25 million in Q1 2026 and are expected to total roughly 5–6% of 2026 net sales. Management aims to offset 100% of tariff dollar costs on a run-rate basis by the end of 2026 through pricing, mitigation actions and operational improvements.

What guidance did MasterBrand give for Q2 2026 and the rest of 2026?

For Q2 2026, MasterBrand expects a mid- to high-single-digit net sales decline, adjusted EBITDA of $51–$61 million with margin of 7.8–8.8%, and adjusted diluted EPS of $0.03–$0.13. For 2026, it reiterates a mid-single-digit decline in its addressable market.

What is the status of MasterBrand’s pending merger with American Woodmark?

MasterBrand anticipates its pending combination with American Woodmark will close in the second calendar quarter of 2026. Current guidance excludes any anticipated financial benefits, transaction expenses or integration-related costs associated with the merger, which are discussed separately in company materials.

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