Slide 1: Q2 2025 Earnings Presentation
Q2 2025 Earnings Presentation PETER JACKSON, CEO PETE BECKMANN, CFO July 31, 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: Primary Focus Areas in 2025
Primar y Focus Areas in 2025 Operational Capital Allocation / Our Customers Excellence Smart Investments We strive to be trusted partners to We focus on talent development, Strong, consistent free cash flow homebuilders by delivering best-in- agility, and technology integration. enables investment i
Slide 5: Q2 2025 Performance
Q2 2025 Perfor mance $4.2B $1.3B $506M $185M $2.38 Net Gross Adjusted Net Adjusted Sales Profit EBITDA1 Income Diluted EPS1 5.0% 11.2% 24.4% 46.2% 32.0% Decrease2 Decrease2 Decrease2 Decrease2 Decrease2 30.7% 12.0% Adj. 4.4% Net Income 6.2% Adj. Gross Margin EBITDA Margin1 % of Sales Net Income % of
Slide 6: Continued Execution of Our Strategy in Q2
Continued Execution of Our Strategy in Q2 ▪ Invested more than $35M to open a new millwork location in Florida and expand or upgrade value-added facilities in 7 states ▪ ~47% value-added product mix in Q2 driven by a below-normal starts environment and continued Multi-Family normalization ▪ Delivere
Slide 7: 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 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 ▪ Leading supplier of lumber and building materials in the Growth in Value- Q2 2025 ~200 bps Added Product Mix Northern California and Nevada markets ▪ Leading supplier of lumber, buildi
Slide 9: Disciplined Capital Deployment Framework
Disciplined Capital Deployment Framework ~$1.5B Q2 2025 Highlights $173M $86M allocated to sustaining the business and investing in value- added capacity and our digital solutions $886M $61M deployed on one acquisition to expand our footprint into high-growth geographies and enhance our value-added
Slide 10: Creating a Better Way to Build as Demand for Modern Digital Solutions Continues to Grow
Creating a Better Way to Build as Demand for Moder n Digital Solutions Continues to Grow Addressing industry …with industry-leading …to become the premier partner pain points… digital solutions… for builders and suppliers ▪ Lengthy design cycle remains Streamlined design in a Increase Wallet Share
Slide 11: Q2 2025 Financial Update
Q2 2025 Financial Update Core Organic Sales1 Core Organic Sales1 Highlights by End Market Highlights by Product ▪ Single-Family (SF): -9.1% ▪ Value-Added Core Organic Sales1 attributable to lower starts activity decreased 11.3% against the prior and value per start year due to continued MF normaliza
Slide 12: Q2 2025 Financial Update
Q2 2025 Financial Update Net Sales Mix by Product Category Net Sales Mix by End Market Value-Added Product Mix: ~47% Repair & Remodel / Other 21% 26% 23% Manufactured Products Multi-Family 9% $4.2B Windows, Doors & Millwork $4.2B Specialty Building Products & Services 27% 24% 70% Single-Family Lumbe
Slide 13: Q2 2025 Financial Update
Q2 2025 Financial Update Net Sales ($M) Bridge -$157 -$65 $4,456 -8.5% Core Organic1 +5.0% Acquisitions -1.5% Deflation $4,234 Q2 2024 Non-Commodity2 Commodity Q2 2025 Adjusted EBITDA3 ($M) Bridge -$130 -$34 $670 $506 Q2 2024 Non-Commodity2 Commodity Q2 2025 1) Core Organic Sales refers to revenue g
Slide 14: 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 ▪ Target leverage ratio of 1.0x to 2.0x 2 Organic Growth ▪ Drive productivity and growth with investments 2.3x 3 Inorganic Growth 1.5x
Slide 15: 2025 Scenarios
2025 Scenarios Estimated Performance Scenario Analysis Based on SF Housing Starts and Commodity Cost Assumptions 2024 FY2025 Scenarios SF Housing ~875K ~900K ~925K 1,013K Starts (Down ~14%) (Down ~11%) (Down ~9%) Commodity $406 ~$350 to ~$400 ~$375 to ~$425 ~$400 to ~$450 Price ($/mbf) Total Sales1
Slide 16: 2025 Outlook
2025 Outlook 2025 Full Year Outlook Metrics Current Guidance Prior Guidance 2024 Actual Total Net Sales1 $14.8 to $15.6 billion $16.05 to $17.05 billion $16.4 billion Gross Profit Margin1 29.0% to 30.5% 29.0% to 31.0% 32.8% Total Adjusted EBITDA1,4 $1.5 to $1.7 billion $1.7 to $2.1 billion $2.3 bill
Slide 17: 2025 Full Year Assumptions
2025 Full Year Assumptions 2025 Full Year Assumptions Metrics Current Assumptions Prior Assumptions Single-Family Starts Growth (BLDR geographies) Down 10-12% Down Mid-Single Digits Multi-Family Starts Growth (BLDR geographies)1 Down Mid-Teens Down Mid-Teens Repair & Remodel Growth (BLDR geographies
Slide 18: Historical Trend Comparison
Historical Trend Comparison thousands 10-Year Single-Family Starts Trend 1,200 1,123 1,100 1,005 1,013 991 1,000 948 876 888 900 900 849 782 800 700 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 19: 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 20: Overview of Base Business Framework
Over view of Base Business Framework ~66% of BFS’s Base Business1 Underlying Base Business Assumptions is Non-Commodity Windows, Doors & Millwork Lumber & Lumber Sheet Goods ▪ Assumes $400/mbf lumber and lumber sheet goods Manufactured Products Specialized Products & Other pricing (in line with 25-y
Slide 21: Base Business Performance Aligned with Long Term Plan
Base Business 1 Perfor mance Aligned with Long Ter m Plan Sales ($B) Adjusted EBITDA2 ($B) $22.7 $4.4 $19.9 $5.0 $17.1 $3.1 $4.2 $16.4 $2.1 $2.9 $15.2 $0.6 $0.0 $0.6 $2.3 $0.0 $1.3 $0.0 $17.7 $1.6 $15.7 $16.5 $16.4 $15.2 $0.0 $2.3 $2.3 $2.3 $1.8 $1.6 2021 2022 2023 2024 2025E 2021 2022 2023 2024 202
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
Slide 30: 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 . 30 30