This is considered a "master key" MK1 for MasterBilt Outdoor sheds. Many outdoor sheds will have MK1 as part of the code shown which indicates the lock has been set up to use a "master key" MK1 however does not mean that the key will fit any type of shed. Shed T Handles will commonly have MK1 on the handle but the cuts are different depending on who manufactured the lock for them. Key will be pre-cut and ready to work in the lock.