Slide 1: Q4 & FY 2025 Earnings Presentation
Q4 & FY 2025 Earnings Presentation PETER JACKSON, CEO PETE BECKMANN, CFO February 17, 2026 Footnote
Slide 2: Safe Harbor & Non-GAAP Financial Measures
Safe Harbor & Non-GAAP Financial Measures Cautionary Notice Statements in this presentation and the schedules hereto that are not purely historical facts or that necessarily depend upon future events, including statements about forecasted financial performance or other statements about anticipations
Slide 3: Clear Strategic Pillars Driving Long-Term Profitable Growth
Clear Strategic Pillars Driving Long-Ter m Profitable Growth Organic Growth with a Drive Continue to Disciplined Focus on Operational Build Our High- Capital Value-Added Excellence & Performing Allocation Products and Invest in Digital Culture Services and Innovation Footnote © C O P Y R I G H T B U
Slide 4: Resilient FY 2025 Performance
Resilient FY 2025 Perfor mance 1 $15.2B $4.6B $1.6B $435M $6.89 Net Gross Adjusted Net Adjusted Sales Profit EBITDA2 Income Diluted EPS2 7.4% 14.3% 32.0% 59.6% 40.4% Decrease Decrease Decrease Decrease Decrease 30.4% 10.4% Adj. 2.9% Net Income 5.1% Adj. Net Income Gross Margin EBITDA Margin2 % of Sa
Slide 5: Positioned to Outperform in All Market Scenarios
Positioned to Outperfor m in All Market Scenarios Optionality to Manage Across Environments BFS ADVANTAGES Weaker Economy Stronger Economy ✓ Right-size network and optimize capacity ✓ Accelerate digital and technology Differentiated Scale transformation ✓ Tighter controls on discretionary spending ✓
Slide 6: Continued Execution of Our Strategy
Continued Execution of Our Strategy ▪ Invested ~$110M in 2025 on new, expanded, or upgraded value-added operations across our footprint ▪ ~48% value-added product mix in 2025 ▪ Delivered $15M in productivity savings in Q4 and $48M in productivity savings in 2025 related to supply chain initiatives ▪
Slide 7: Disciplined Capital Deployment Framework
Disciplined Capital Deployment Framework ~$1.9B FY 2025 Highlights $342M $342M allocated to sustaining the business, as well as ROI generating growth investments in value-added capacity and Digital $1.14B $1.14B deployed on 8 acquisitions to expand our footprint into high-growth geographies and enha
Slide 8: Increasing Value-Added Mix and Expanding to Desirable Geographies Through M&A
Increasing Value-Added Mix and Expanding to Desirable Geographies Through M&A Net Sales Acquisition Date Benefits Growth in Value- Q4 2025 ▪ Leading supplier of lumber serving Central Texas ~300 bps Added Product Mix ▪ Wholesale manufacturer of factory-built housing serving Q4 2025 ten northeastern
Slide 9: Leading the Industry's Digital Transformation – Empowering Builders With Digital Capabilities
Leading the Industr y’s Digital Transfor mation – Empowering Builders With Digital Capabilities Digital Amplifies Our Core and Streamlines the Homebuilding Industry for All Stakeholders Core to How We Operate Amplifies Organic Growth Evolves the Digital Ecosystem Build consumer-grade solutions to Di
Slide 10: Q4 2025 Financial Update
Q4 2025 Financial Update Core Organic Sales1 Core Organic Sales1 Highlights by End Market Highlights by Product ▪ Single-Family (SF): -15% ▪ Total Core Organic Sales1 declined 14% driven by a below- attributable to lower starts activity normal starts environment and ongoing affordability challenges
Slide 11: Q4 2025 Financial Update
Q4 2025 Financial Update Net Sales Mix by Product Category Net Sales Mix by End Market Value-Added Product Mix: ~48% Repair & Remodel / Other 28% 22% 24% Manufactured Products $3.4B Windows, Doors & Millwork $3.4B Multi-Family 10% Specialty Building Products & Services 66% 24% 26% Single-Family Lumb
Slide 12: Q4 2025 Financial Update
Q4 2025 Financial Update Net Sales ($M) Bridge $3,820 -$391 -$71 -14.0% Core Organic1 +3.8% Acquisitions $3,358 -1.9% Deflation Q4 2024 Non-Commodity2 Commodity Q4 2025 Adjusted EBITDA3 ($M) Bridge $494 -$206 -$13 $275 Q4 2024 Non-Commodity2 Commodity Q4 2025 Note: Bridge values may not sum to total
Slide 13: Strong Balance Sheet and Liquidity Provide Financial Flexibility
Strong Balance Sheet and Liquidity Provide Financial Flexibility Consistent Capital Allocation Priorities Low Net Leverage1 Profile 1 Maintain a Strong Balance Sheet 2 Organic Growth 2.7x 1.9x 3 Inorganic Growth 1.3x 1.5x 1.0x 1.1x 0.7x 4 Return Capital to Shareholders 2019PF 2020PF 2021 2022 2023 2
Slide 14: 2026 Outlook
2026 Outlook 2026 Full Year Outlook Metrics Current Guidance 2025 Actual Total Net Sales1 $14.8 to $15.8 billion $15.2 billion Gross Profit Margin1 28.5% to 30% 30.4% Total Adjusted EBITDA1,4 $1.3 to $1.7 billion $1.6 billion Total Adjusted EBITDA Margin1,4 8.8% to 10.8% 10.4% Free Cash Flow2 ~$0.5
Slide 15: 2026 Full Year Assumptions
2026 Full Year Assumptions 2026 Full Year Assumptions Metrics Current Assumptions Single-Family Starts Growth (BLDR geographies) Flat Multi-Family Starts Growth (BLDR geographies)1 Flat Repair & Remodel Growth (BLDR geographies) Up 1% Selling Days No change vs. 2025 Average Commodity Prices ($/mbf)
Slide 16: Historical Trend Comparison
Historical Trend Comparison 10-Year Single Family Starts Trend thousands 1,200 1,127 1,100 991 1,005 1,013 1,000 948 925 876 888 900 849 782 800 700 1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Aggregated2 Pro Forma3 Actuals 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Net Sales $9,461 $
Slide 17: Appendix
Appendix Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D .
Slide 18: Overview of Base Business Framework
Over view of Base Business Framework ~64% of BFS’s Base Business1 Underlying Base Business Assumptions is Non-Commodity Windows, Doors & Millwork Lumber & Lumber Sheet Goods ▪ Assumes $400/mbf lumber and lumber sheet goods Manufactured Products Specialized Products & Other pricing (in line with long
Slide 19: Base Business Performance Aligned with Long-Term Plan
Base Business Perfor mance Aligned with Long-Ter m Plan Sales ($B) Adjusted EBITDA3 ($B) $22.7 $4.4 $19.9 ~5% ~9% $5.0 $4.2 $17.1 $16.4 $3.1 $2.1 $15.2 $15.3 $2.9 $12.8 $0.6 $0.0 $2.3 $10.9 $1.3 $0.6 $0.3 $0.0 $1.6 $1.5 $17.7 $16.5 $16.4 $1.1 $15.7 $15.5 $15.8 $0.8 $2.3 $2.3 $2.3 $11.5 $12.5 $0.0 $1
Slide 20: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 20 20
Slide 21: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 21 21
Slide 22: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 22 22
Slide 23: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 23 23
Slide 24: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 24 24
Slide 25: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 25 25
Slide 26: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 26 26
Slide 27: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 27 27
Slide 28: Summary Financial Information & Reconciliations
Summar y Financial Infor mation & Reconciliations Footnote © C O P Y R I G H T B U I L D E R S F I R S T S O U R C E . A L L R I G H T S R E S E R V E D . 28 28