Masco

“Plumbing Products The businesses in our Plumbing Products segment sell a wide variety of products that are manufactured or sourced by us. •Our plumbing products include faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures, shower drains, steam shower systems, water filtration systems, sinks and kitchen accessories. We primarily sell these products to home center retailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them to plumbers, building contractors, remodelers, smaller retailers, consumers and homebuilders.”

Annual report 2025A · The company itself

“Our DELTA and MIROLIN® products are sold primarily to home center retailers in North America.”

Annual report 2025A · The company itself

“Our spas, exercise pools and saunas are sold worldwide to independent specialty retailers and distributors and our spas and saunas are also sold to online mass merchandisers.”

Annual report 2025A · The company itself

“•Included in our Plumbing Products segment are brass, copper and composite plumbing system components and other non-decorative plumbing products that are sold to plumbing, heating and hardware wholesalers, home center and online retailers, hardware stores, building supply outlets and other mass merchandisers.”

Annual report 2025A · The company itself

“Decorative Architectural Products Our Decorative Architectural Products segment primarily includes architectural coatings, including paints, primers, specialty coatings, stains and waterproofing products, as well as paint applicators and accessories. These products are sold primarily in North America as well as in South America under the brand names BEHR®, KILZ®, WHIZZ® and other trademarks to “do‑it‑yourself” and professional customers through home center retailers and other retailers.”

Annual report 2025A · The company itself

“Our BEHR products are sold through The Home Depot, our largest customer overall, as well as this segment’s largest customer. Our Behr business grants to The Home Depot Behr brand exclusivity in the retail sales channel in North America and exclusivity with respect to Kilz branded primer products in the home improvement big box retail sales channel and across online only mass market retail marketplaces in the United States and in the retail sales channel in Canada. The granting of exclusivity affects our ability to sell those products and brands to other customers, and the loss of this segment’s sales to The Home Depot would have a material adverse effect on this segment’s business and on our consolidated business as a whole.”

Annual report 2025A · The company itself

“Our Decorative Architectural Products segment includes branded cabinet and door hardware, functional hardware, hook and hook rail products, and outdoor living hardware, which are manufactured for us and sold to home center retailers, online retailers, other specialty retailers, original equipment manufacturers and wholesalers.”

Annual report 2025A · The company itself

“Decorative bath hardware, shower accessories and shower doors are sold under the brand names DELTA® and FRANKLIN BRASS® and other trademarks to home center retailers, mass retailers, online retailers, other specialty retailers and wholesalers.”

Annual report 2025A · The company itself

“We sell our products through home center retailers, online retailers, distributors, wholesalers and independent dealers and rely on these customers to market and promote our products to consumers. Our success with our customers is dependent on, among other things, our ability to provide quality products with desired features at acceptable prices with timely delivery and a high level of customer service.”

Annual report 2025A · The company itself

“Our sales are concentrated with three significant customers and this concentration may continue to increase. In 2025, our net sales to The Home Depot were $2.9 billion (approximately 38 percent of our consolidated net sales), and our net sales to Ferguson and Lowe’s were each less than 10 percent of our consolidated net sales.”

Annual report 2025A · The company itself

“Masco Corporation and its subsidiaries (the “Company”) is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes BEHR® paint; DELTA® and HANSGROHE® faucets, bath and shower fixtures; LIBERTY® branded decorative and functional hardware; and HOT SPRING® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders.”

Annual report 2025A · The company itself

“We primarily sell these products to home center retailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them to plumbers, building contractors, remodelers, smaller retailers, consumers and homebuilders.”

Annual report 2025A · The company itself

“We primarily sell these products to home center retailers, online retailers, mass merchandisers, wholesalers and distributors that, in turn, sell them to plumbers, building contractors, remodelers, smaller retailers, consumers and homebuilders.”

Annual report 2025A · The company itself

“In 2025, we continued to return value to our shareholders by repurchasing approximately 8.5 million shares of our common stock and increasing our quarterly dividend by approximately seven percent compared to 2024.”

Annual report 2025A · The company itself

“Masco Corporation and its subsidiaries (the “Company”) is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes BEHR® paint; DELTA® and HANSGROHE® faucets, bath and shower fixtures; LIBERTY® branded decorative and functional hardware; and HOT SPRING® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders.”

Annual report 2025A · The company itself

“In addition, we have experienced and may continue to experience significantly higher costs for some of the material inputs and products in this segment that we import as a result of increased duties and tariffs.”

Annual report 2025A · The company itself

“We purchase substantial amounts of raw materials, components and finished products from outside sources, including international sources, and we manufacture certain of our products outside of the United States. Increases in the cost of the materials we purchase, including as a result of diminished availability, increased duties, tariffs and inflation or unfavorable fluctuations in currency exchange rates have increased and may in the future increase the prices for our products and negatively impact our results of operations and financial position.”

Annual report 2025A · The company itself

“In particular, we have experienced and may continue to experience significantly higher costs as a result of increased duties and tariffs, mainly in our Plumbing Products segment, due to duties and tariffs related to China and other international jurisdictions as well as related to materials.”

Annual report 2025A · The company itself

“Economic contractions or recessions have resulted in and could in the future result in a decline in residential repair and remodeling activity or in demand for new home construction, adversely impacting our results of operations and financial position.”

Annual report 2025A · The company itself

“Strategic Risks Our business strategy is focused on residential repair and remodeling activity and, to a lesser extent, on new home construction activity, both of which are impacted by a number of economic and other factors. Our business performance relies on residential repair and remodeling activity and, to a lesser extent, on new home construction activity.”

Annual report 2025A · The company itself

“We purchase substantial amounts of raw materials, components and finished products from outside sources, including international sources, and we manufacture certain of our products outside of the United States. Increases in the cost of the materials we purchase, including as a result of diminished availability, increased duties, tariffs and inflation or unfavorable fluctuations in currency exchange rates have increased and may in the future increase the prices for our products and negatively impact our results of operations and financial position.”

Annual report 2025A · The company itself

“Extreme weather events and changes in climate could adversely impact our results of operations and financial position. Extreme weather events, such as severe winter and other storms, hurricanes, fires, floods, tornados and droughts, as a result of climate change or other factors, have negatively impacted and may in the future negatively impact our business.”

Annual report 2025A · The company itself

“A number of factors impact consumers’ spending on home improvement projects as well as new home construction activity, including: •consumer confidence levels; •consumer income and debt levels; •consumer affordability; •unemployment and underemployment levels; •the availability of home equity loans and mortgages and the interest rates for and tax deductibility of such loans; •inflationary pressures, including from duties and tariffs; •changing government policies and programs; •existing home sales; •age of the housing stock; •fluctuations in home prices; •household formation; •trends in lifestyle and housing design; •the availability of skilled tradespeople for repair and remodeling work; and •natural disasters, terrorist acts, pandemics, social or civil unrest, wars or conflicts or other catastrophic events.”

Annual report 2025A · The company itself

“Further, our production has been and may in the future be impacted if we or our suppliers are unable to procure our requirements for various raw materials, including, among others, brass, copper, resins, titanium dioxide and zinc.”

Annual report 2025A · The company itself

“Consumer preferences have also changed, including a shift in consumer purchasing practices toward e-commerce and a potential increase in consumer demand for products with certain attributes, such as connected products and sustainable products.”

Annual report 2025A · The company itself

“Elevated energy prices have increased and may in the future increase our production and transportation costs.”

Annual report 2025A · The company itself

“A number of factors impact consumers’ spending on home improvement projects as well as new home construction activity, including: •consumer confidence levels; •consumer income and debt levels; •consumer affordability; •unemployment and underemployment levels; •the availability of home equity loans and mortgages and the interest rates for and tax deductibility of such loans; •inflationary pressures, including from duties and tariffs; •changing government policies and programs; •existing home sales; •age of the housing stock; •fluctuations in home prices; •household formation; •trends in lifestyle and housing design; •the availability of skilled tradespeople for repair and remodeling work; and •natural disasters, terrorist acts, pandemics, social or civil unrest, wars or conflicts or other catastrophic events.”

Annual report 2025A · The company itself

“The long-term performance of our businesses relies on our ability to attract, develop and retain a talented and workforce. For our businesses to be successful, we must invest significant resources to attract, develop and retain highly qualified and talented employees, who have the experience, knowledge and expertise to implement our strategic and business initiatives.”

Annual report 2025A · The company itself

“In addition, the prices of crude oil, natural gas, propylene and certain petroleum by-products can impact our costs and results of operations in this segment.”

Annual report 2025A · The company itself

“In addition, the prices of crude oil, natural gas, propylene and certain petroleum by-products can impact our costs and results of operations in this segment.”

Annual report 2025A · The company itself

“Unfavorable currency exchange rates, particularly the euro, the Chinese renminbi, the Canadian dollar, the British pound sterling and the Mexican peso, have in the past adversely impacted us, and could adversely impact us in the future.”

Annual report 2025A · The company itself

“In addition, water is a significant component of our architectural coatings products and may be subject to shortages and restrictions on supply in certain regions, due to climate-related and other influences.”

Annual report 2025A · The company itself

“The majority of our faucet, bathing and showering products are sold primarily in North America, Europe and China under the brand names DELTA®, BRIZO®, PEERLESS®, HANSGROHE®, AXOR®, KRAUS®, NEWPORT BRASS® and WALTEC®.”

Annual report 2025A · The company itself

“In 2025, 21 percent of our sales were made outside of North America (particularly in Europe) and transacted in currencies other than the U.S. dollar.”

Annual report 2025A · The company itself

“The majority of our faucet, bathing and showering products are sold primarily in North America, Europe and China under the brand names DELTA®, BRIZO®, PEERLESS®, HANSGROHE®, AXOR®, KRAUS®, NEWPORT BRASS® and WALTEC®.”

Annual report 2025A · The company itself