Slide 1: Q3 2025 Earnings Presentation
Q3 2025 Earnings Presentation PETER JACKSON, CEO PETE BECKMANN, CFO October 30, 2025 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: Q3 2025 Performance
Q3 2025 Perfor mance 1 $3.9B $1.2B $434M $122M $1.88 Net Gross Adjusted Net Adjusted Sales Profit EBITDA2 Income Diluted EPS2 6.9% 13.5% 30.8% 57.0% 38.8% Decrease Decrease Decrease Decrease Decrease 30.4% 11.0% Adj. 3.1% Net Income 5.3% Adj. Net Income Gross Margin EBITDA Margin2 % of Sales % of Sa
Slide 5: Continued Execution of Our Strategy
Continued Execution of Our Strategy Invested ~$20M in Q3 to open a new millwork location in South Carolina and expand or upgrade value-added facilities in 7 states ~47% value-added product mix in Q3 and ~48% YTD Delivered $11 million in productivity savings in Q3 and $33M YTD related to supply
Slide 6: 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 Reduce discretionary spending Leverage cos
Slide 7: Disciplined Capital Deployment Framework
Disciplined Capital Deployment Framework ~$1.6B Key Highlights $256M >$100 Million Deployed in Q3 $83M Capital Expenditures $19M M&A $905M ~$1.6 Billion Deployed YTD $256M Capital Expenditures $404M $905M M&A $404M Share Repurchases YTD 2025 Share Repurchases Tuck-In M&A Organic Growth Suc
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 ~200 bps Growth in Value- Added Product Mix Q4 2025 Trusted partner to leading Las Vegas homebuilders, specializing in premium residential door solutions Value-Added Value-Added Q4 202
Slide 9: Leading the Industry's Digital Transformation – Empowering Builders with Modern Solutions
Leading the Industr y’s Digital Transfor mation – Empowering Builders with Moder n Solutions Addressing industry …with industry-leading …to enhance our partnership pain points… digital solutions… with builders and suppliers Traditional design cycles and End-to-end digital solutions Grow Share Wi
Slide 10: Q3 2025 Financial Update
Q3 2025 Financial Update Core Organic Sales1 Core Organic Sales1 Highlights by End Market Highlights by Product Single-Family (SF): -12.1% Value-Added Core Organic Sales1 attributable to lower starts activity decreased 13.9% against the and value per start prior year due to the below- normal sta
Slide 11: Q3 2025 Financial Update
Q3 2025 Financial Update Net Sales Mix by Product Category Net Sales Mix by End Market Value-Added Product Mix: ~47% Repair & Remodel / Other 28% 22% 25% Manufactured Products $3.9B Windows, Doors & Millwork $3.9B Multi-Family 9% 25% Specialty Building Products & Services 66% 25% Single-Family Lumbe
Slide 12: Q3 2025 Financial Update
Q3 2025 Financial Update Net Sales ($M) Bridge -$244 -$47 $4,232 -10.6% Core Organic1 +4.8% Acquisitions -1.1% Deflation $3,941 Q3 2024 Non-Commodity2 Commodity Q3 2025 Adjusted EBITDA3 ($M) Bridge -$183 -$10 $627 $434 Q3 2024 Non-Commodity2 Commodity Q3 2025 1) Core Organic Sales refers to revenue
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 2.3x 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: 2025 Outlook
2025 Outlook 2025 Full Year Outlook Metrics Current Guidance Prior Guidance 2024 Actual Total Net Sales1 $15.1 to $15.4 billion $14.8 to $15.6 billion $16.4 billion Gross Profit Margin1 30.1% to 30.5% 29.0% to 30.5% 32.8% Total Adjusted EBITDA1,4 $1.625 to $1.675 billion $1.5 to $1.7 billion $2.3 bi
Slide 15: 2025 Full Year Assumptions
2025 Full Year Assumptions 2025 Full Year Assumptions Metrics Current Assumptions Prior Assumptions Single-Family Starts Growth (BLDR geographies) Down ~9% Down 10-12% Multi-Family Starts Growth (BLDR geographies)1 Down Mid-Teens Down Mid-Teens Repair & Remodel Growth (BLDR geographies) Flat Flat Se
Slide 16: 2026 Scenarios
2026 Scenarios Scenario Analysis Based on SF Housing and Commodity Assumptions 2025E1 Full Year 2026 Scenarios Normalized Assumptions Single Family ~920K ~875K ~920K ~965K Price fluctuations can ~1M to ~1.1M result in materially Housing Starts (Down ~9%) (Down ~5%) (Flat) (Up ~5%) different results
Slide 17: Historical Trend Comparison
Historical Trend Comparison thousands 10-Year Single-Family Starts Trend 1,200 1,127 1,100 1,005 991 1,013 1,000 948 920 876 888 900 849 782 800 700 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Aggregated1 Pro Forma2 Actuals 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025E Net Sales $9,461 $
Slide 18: 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 19: Overview of Base Business Framework
Over view of Base Business Framework ~67% of BFS’s Base Business1 Underlying Base Business Assumptions is Non-Commodity Windows, Doors & Millwork Lumber & Lumber Sheet Goods Assumes $400/mbf lumber and lumber sheet goods Manufactured Products Specialized Products & Other pricing (in line with 25-y
Slide 20: Base Business Performance Aligned with Long Term Plan
Base Business 1 Perfor mance Aligned with Long Ter m Plan Sales ($B) Adjusted EBITDA2 ($B) $22.7 $4.4 $19.9 $5.0 $17.1 $16.4 $3.1 $2.1 $4.2 $15.25 ~5% $2.9 ~12% $12.8 $0.6 $0.0 $2.3 $10.9 $1.3 $0.6 $0.3 $0.0 $1.65 $17.7 $16.5 $16.4 $1.1 $15.7 $15.6 $0.8 $2.3 $2.3 $2.3 $11.5 $12.5 $0.0 $1.8 $1.75 $0.
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
Slide 29: 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 . 29 29