BMC STOCK HOLDINGS, INC. May 2018 Investor Presentation BMC. All Rights Reserved.

CLICK DISCLAIMER TO EDIT TITLE This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this document may include, without limitation, statements regarding sales growth, price changes, earnings performance, strategic direction and the demand for our products. Forward-looking statements are typically identified by words or phrases such as "may," "might," "predict," "future," "seek to," "assume," "goal," "objective," "continue," "will," "could," "should," "would," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," "target," "prospects," "guidance," "possible," "predict," "propose," "potential" and "forecast," or the negative of such terms and other words, terms and phrases of similar meaning. Forward-looking statements involve estimates, expectations, projections, goals, forecasts, assumptions, risks and uncertainties, many of which are outside BMC's control. BMC cautions readers that any forwardlooking statement is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking statement; therefore, investors and shareholders should not place undue reliance on such statement. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. A number of important factors could cause actual results to differ materially from those indicated by the forward-looking statements. These factors include without limitation: the state of the homebuilding industry and repair and remodeling activity, the economy and the credit markets; the impact of potential changes in our customer or product sales mix; our concentration of business in the Texas, California and Georgia markets; the potential loss of significant customers or a reduction in the quantity of products they purchase; seasonality and cyclicality of the building products supply and services industry; competitive industry pressures and competitive pricing pressure from our customers and competitors; fluctuation of commodity prices and prices of our products; our exposure to product liability, warranty, casualty, construction defect, contract, tort, employment and other claims and legal proceedings; our ability to maintain profitability; our ability to retain our key employees and to attract and retain new qualified employees, while controlling our labor costs; product shortages, loss of key suppliers or failure to develop relationships with qualified suppliers, and our dependence on third-party suppliers and manufacturers; the implementation of our supply chain and technology initiatives; the impact of long-term non-cancelable leases at our facilities; our ability to effectively manage inventory and working capital; the credit risk from our customers; the impact of pricing pressure from our customers; our ability to identify or respond effectively to consumer needs, expectations, market conditions or trends; our ability to successfully implement our growth strategy; the impact of federal, state, local and other laws and regulations; the impact of changes in legislation and government policy; the impact of unexpected changes in our tax provisions and adoption of new tax legislation; our ability to utilize our net operating loss carryforwards; natural or man-made disruptions to our distribution and manufacturing facilities; our exposure to environmental liabilities and subjection to environmental laws and regulation; the impact of health and safety laws and regulations; the impact of disruptions to our information technology systems; cybersecurity risks; our exposure to losses if our insurance coverage is insufficient; our ability to operate on multiple Enterprise Resource Planning ("ERP") information systems and convert multiple systems to a single system; the impact of our indebtedness; the various financial covenants in our secured credit agreement and senior secured notes indenture; and other factors discussed or referred to in the "Risk Factors" section of BMC's most recent Annual Report on Form 10-K filed with the SEC on March 1, 2018. All such factors are difficult to predict and are beyond BMC's control. All forward-looking statements attributable to BMC or persons acting on BMC's behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and BMC undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Basis of Presentation On December 1, 2015, the merger (the Merger ) of Stock Building Supply Holdings, Inc. ( SBS or Legacy SBS ) with Building Materials Holding Corporation ( Legacy BMC ) was completed. Some of this presentation includes financial and operating results, plans, objectives, expectations and intentions, and other statements that are not historical facts related to the Merger. The Merger was accounted for as a reverse acquisition under the acquisition method of accounting, with Legacy SBS treated as the legal acquirer and Legacy BMC treated as the acquirer for accounting purposes. As such, the Company has accounted for the Merger by using Legacy BMC historical information and accounting policies and adding the assets and liabilities of Legacy SBS as of the completion date of the Merger at their estimated fair values. As a result, current year results reported pursuant to U.S. generally accepted accounting principles ( GAAP ) are not comparable to periods prior to the completion of the Merger. 2

CLICK NON-GAAP TO EDIT (ADJUSTED) TITLE FINANCIAL MEASURES Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share are intended as supplemental measures of the Company s performance that are not required by, or presented in accordance with, GAAP. The Company believes that Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share provide useful information to management and investors regarding certain financial and business trends relating to the Company s financial condition and operating results. Adjusted net sales is defined as BMC net sales plus pre-merger SBS net sales. Adjusted gross profit is defined as BMC gross profit plus pre-merger SBS gross profit and inventory step-up charges. Adjusted EBITDA is defined as net income (loss) adjusted for pre-merger SBS (loss) income from continuing operations, interest expense, income tax expense (benefit), depreciation and amortization, Merger and integration costs, restructuring expense, inventory step-up charges, non-cash stock compensation expense, loss on debt extinguishment, headquarters relocation expense, insurance deductible reserve adjustment and fire casualty loss, loss on portfolio transfer, acquisition costs and other items and impairment of assets. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by net sales or, for 2015 and prior periods, Adjusted net sales. Adjusted net income is defined as BMC net income adjusted for merger and integration costs, non-cash stock compensation expense, acquisition costs, other items and after-tax effecting those items. Adjusted net income per diluted share is defined as Adjusted net income divided by diluted weighted average shares. Company management uses Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share for trend analyses, for purposes of determining management incentive compensation and for budgeting and planning purposes. Adjusted net sales and Adjusted EBITDA are used in monthly financial reports prepared for management and the board of directors. The Company believes that the use of Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share provide additional tools for investors to use in evaluating ongoing operating results and trends and in comparing the Company s financial measures with other distribution and retail companies, which may present similar non-gaap financial measures to investors. However, the Company s calculation of Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share are not necessarily comparable to similarly titled measures reported by other companies. Company management does not consider Adjusted net sales, Adjusted gross profit, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income and Adjusted net income per diluted share in isolation or as alternatives to financial measures determined in accordance with GAAP. The principal limitation of Adjusted EBITDA and Adjusted net income is that they exclude significant expenses and income that are required by GAAP to be recorded in the Company s financial statements. Some of these limitations are: (i) Adjusted EBITDA and Adjusted net income do not reflect changes in, or cash requirements for, working capital needs; (ii) Adjusted EBITDA does not reflect interest expense, or the requirements necessary to service interest or principal payments on debt; (iii) Adjusted EBITDA does not reflect income tax expenses or the cash requirements to pay taxes; (iv) Adjusted net income and Adjusted EBITDA do not reflect historical cash expenditures or future requirements for capital expenditures or contractual commitments; (v) although depreciation and amortization charges are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and Adjusted EBITDA and Adjusted net income do not reflect any cash requirements for such replacements and (vi) Adjusted net income and Adjusted EBITDA do not consider the potentially dilutive impact of issuing non-cash stock-based compensation. In order to compensate for these limitations, management considers Adjusted net sales, Adjusted EBITDA and Adjusted net income in conjunction with GAAP results. Readers should review the reconciliations of net sales to Adjusted net sales, gross profit to Adjusted gross profit, net income (loss) to Adjusted EBITDA and Adjusted net income, included in the Appendix, and should not rely on any single financial measure to evaluate the Company s business. 3

CLICK BMC COMPANY TO EDIT TITLE SNAPSHOT PROVIDING INNOVATIVE SOLUTIONS NASDAQ LISTED: BMCH A leading national building products solutions provider with $3.4 billion of net sales and $200 million of Adjusted EBITDA (1) for 2017 Locations in 19 states representing 66% of 2017 singlefamily building permits Significant market presence in 45 attractive metropolitan areas Focus on differentiated, value-added products and services that meet critical industry needs Proven growth track record (~24% Adjusted EBITDA 1 CAGR since 2015) with significant future opportunities as housing market expands 2017 Product & Service Mix Other Bldg. Products & Services, 24% Millwork, Windows & Doors, 27% Structural Components, 16% Lumber & Sheet Goods, 33% Product categories are shown a % of 2017 net sales Distribution Services Component Manufacturing Millwork Manufacturing Turnkey Solutions Design Services ebusiness Platform 103 Distribution Yards 51 Ready-Frame, EWP, Truss & Panel Manufacturing 49 Millwork Operations Installation Services Design Centers & Showrooms Logistics, Services & ecommerce 5 1. See Non-GAAP (Adjusted) Financial Measures page of this presentation for definition of Adjusted EBITDA and a reconciliation thereof to net income, the most directly comparable GAAP measure..

CLICK STRATEGIC TO EDIT FOOTPRINT TITLE IN HIGHLY ATTRACTIVE, LONG-TERM GROWTH MARKETS Company Footprint 2017 Sales by U.S. Census Division 103 Distribution locations in 19 states 66% of 2017 single-family building permits 51 49 Ready-Frame, EWP, Millwork Truss & Panel operations Manufacturing Facilities Pacific 18% Mid & South Atlantic 26% WA MT Mountain 23% West South Central 33% ID CA NV UT CO WV VA PA Regional categories are shown a % of 2017 net sales NM AR TX GA FL 6

CLICK HIGHLY TO DIVERSIFIED EDIT TITLE AND GROWING CUSTOMER BASE Diverse base of customers ranging from wellknown national builders to small regional and local players Single-Family Homebuilders 75% 2017 Customer Mix No single customer greater than 6% of total net sales Enhanced capabilities to serve attractive professional repair and remodeling contractor segment Repair & Remodel Contractors 11% Multi-Family & Commercial Contractors 14% Select Customers Customer categories are shown as a % of 2017 net sales National Homebuilders Regional Homebuilders Multi-family (millwork) 7

CLICK VALUE-ADDED TO EDIT SERVICES TITLE SUPPORT JOB SITE EXCELLENCE ONE-STEP VALUE CHAIN SHOWROOM TO JOB-SITE CONTRACTOR TO CLIENT Providing differentiated solutions and proprietary services that support our unique value proposition Driving enhanced productivity and customer satisfaction One-step distributor for premier building products manufacturers; critical link in building supply chain for customers Keen understanding of unique construction codes, regional product preferences and local distribution infrastructure 8

CLICK DIVERSITY TO EDIT OF SUPPLIER TITLE BASE STRATEGIC AGREEMENTS IN PLACE WITH LEADING BUILDING PRODUCT SUPPLIERS Diverse base of leading building products manufacturers One-step value-added distributor providing direct access to thousands of customers BMC Provides Strategic Go-to-Market Options for Suppliers 9

KEY ACTIVITIES Service Improvement Optimize Profitability Value-Added Capabilities Communication PILLARS GOAL SHARPENING THE FOCUS ON OUR GROWTH STRATEGIES STRATEGIC PRIORITIES Achieve Industry-Leading Financial Performance through Customer Service Leadership and Operational Excellence 1 2 3 4 Organic Growth of Value Added Products and Segments Deliver Operational Excellence with the BMC Operating System Build High Performing Culture Pursue Strategic Expansion Balance Customer Portfolio: Maximize Single Family Potential Grow Multi-Family in select markets Grow Pro Remodeling Segment Increase Mix of Value Added Products: Millwork Windows Doors Components Best in Class Customer Service Optimize Profitability: Profitable Pricing Purchasing Rigor SG&A Optimization Drive Continuous Improvement Performance Management BMC Leadership Academy: Talent Development Recruiting College Graduate Management Training Program Areas of Focus for Tuck-In Acquisitions: Value Added Products Pro Remodel Improved Local Scale Expand Geographically Solid Balance Sheet Provides Foundation for Growth 11

CLICK READY-FRAME TO EDIT TITLE - SIGNIFICANT GROWTH POTENTIAL OPPORTUNITY TO TRANSITION COMMODITY LUMBER SALES TO VALUE-ADDED Less Risk. Less Labor. Less Cost $171.2 Ready-Frame Sales (dollars in millions) $29.2 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 12 READY-FRAME video: https://www.youtube.com/watch?v=rev665u2qri

CLICK WHY READY-FRAME? TO EDIT TITLE A WIN-WIN OFFERING FOR BMC AND FOR CUSTOMERS For Builders For Framers For BMC Shortens cash conversion cycle time; Less framing time needed Less labor needed (particularly helpful given the current labor shortages) Safer less cutting on the jobsite; likely means fewer worker s compensation claims Greener and Cleaner less waste and additional savings on disposal costs Entire house package guaranteed to 1/16 th of an inch, which should result in fewer warranty claims Benefits of READY-FRAME: Can frame 20 30% more homes in same amount of time (Note: framers are typically paid by the square foot.) Safer, cleaner jobsite Potential reduction in jobsite injuries Framing becomes easier with each subsequent Ready-Frame package Promotes accuracy; Architectural errors are generally caught prior to framing Higher margin offering than traditional dimensional lumber packages Helps to solidify the Company s position as a solutions provider Fewer trips to jobsite (No last minute orders or extra lumber returns) Opportunity to cross-sell / up-sell products CA WA ID NV UT MT CO NM TX GA PA NC Washington, DC 13 Ready-Frame location

CLICK BMC S TO LEAN EDIT EBUSINESS TITLE EVOLUTION BUILDING A TECHNOLOGY PLATFORM TO ENABLE AND LEVERAGE PROFITABLE GROWTH Integrating Value-Added Solutions Around a Single ERP E-Commerce 2 Logistics Solutions Driver Productivity Customer Satisfaction Asset Utilization Product Costs 1 Ease of Accessibility Customer Productivity Associate Productivity New Customer Leads Installation Services Resource Management Communication & Document Management Completion Performance Single ERP 3 >92% 14 1. Reduced product costs from Photo Proof of Delivery, which has reduced Claims, including Returns, Damages and Missing Product 2. As of 3/31/18, transactional capabilities are available in 16 markets; rollout expected to continue following ERP conversions. 3. Conversions are expected to continue through early 2019

CLICK 24X7 TRANSACTIONAL TO EDIT TITLE FRONT-END TO ERP ENHANCES CUSTOMER EXPERIENCE / PRODUCTIVITY Easy, Fast, Convenient Intuitive interface Accessible 24x7 Mobile based platform Full breadth of products Customer specific pricing Product availability and lead times Professional Resources Robust building science content: articles, videos, project management tools How-to articles Product search with photos, specs, comparison tools Idea gallery with room scenes Interactive design tools Work More Efficiently Order Management Tools: place orders, check order status, create reorder lists Account management Tools: Pay invoices, assign users and admin permissions, view history Configure custom millwork Manage business digitally Introducing a Brand New Tool for our Customer s Belt 15 Note: Transactional capabilities are not yet available in all markets. As of 3/31/18, transactional capabilities are available in 16 markets; rollout expected to continue following ERP conversions.

CLICK OPERATIONAL TO EDIT EXCELLENCE TITLE TO DRIVE CONTINUOUS IMPROVEMENT Best-in-Class Customer Service Gain Efficiencies Using Lean Principles Reduce Cost Structure Increase Productivity Drive Continuous Improvement Using Lean principles to identify opportunities and create best practices to improve service, increase efficiencies and remove costs from the business. 16

CLICK CONTINUING TO EDIT TO TITLE BUILD A HIGH PERFORMANCE CULTURE Performance Management Action-oriented operating reviews Regular employee feedback Improvement based incentives Bi-Annual calibration of talent and succession planning Leadership Development Multi-phased approach to developing BMC leaders Focused on developing strong location, sales, and market leaders Heavy emphasis on developing High Potentials and future Leaders Trainee Program Recruiting and developing for succession Focus on Sales, Leadership, and Design Programs timing, 6-9 months Targeted recruiting in key geographic areas and schools that fit BMC culture 17

CLICK POSITIONED TO EDIT TO TITLE UTILIZE M&A TO DRIVE FUTURE GROWTH FRAGMENTED MARKET COMBINED WITH PROVEN AND DISCIPLINED M&A PROCESS LBM Dealer Market Fragmentation (1) Builders FirstSource 7% BMC 3% 84 Lumber 3% US LBM 3% Carter Lumber 1% M&A Opportunity Leverage profile provides financial flexibility to pursue accretive tuck-in acquisitions to enhance our value added offerings, customer base and/or geographic presence Recent acquisitions: Shone Lumber (Mar 18) solid customer base in DE & Southeast PA, including strong Custom Builder and Professional Remodeling relationships Others 83% TexPly (Apr 17) leading supplier of millwork and doors for single-family production builders in the DFW area Code Plus (Mar 17) DC area truss manufacturer LBM Dealers 2017 Total Net Sales (1) Public LBM Dealers Leverage Profile ($m) $7,034 4.9x (2) 4.6x (3) $3,366 $3,302 $3,092 $1,365 $559 Average of Top 100 LBM Dealers 1.7x (4) 18 As of 12/31/17 As of 3/31/18 As of 3/31/18 Fragmentation Presents Significant Consolidation Opportunities 1. Source: 2018 ProSales 100 rankings of pro dealers with manufacturing capabilities; Market Size based on Census Bureau data 2. US LBM is not public but filed an S-1 indicating their intention to go public; Leverage for US LBM was calculated using data provided for the Successor Company in their S-1/A filing filed on 3/22/18; The leverage calculation used was Total Debt of the Successor Company at 12/31/17 divided by TTM Adjusted EBITDA at 12/31/17 of the Successor Company as defined in their S-1 filing 3. Leverage for BLDR is the ratio of net debt at Mar. 31, 2018 to Adjusted EBITDA for the twelve months ended Mar. 31, 2018 as reported in BLDR s Investor Presentation on May 10, 2018. 4. BMC s calculation of leverage is the ratio of Long Term Debt to LTM Adjusted EBITDA as of Mar 31, 2018.

CLICK HISTORICAL EDIT FINANCIAL TITLE PERFORMANCE Adjusted Net Sales (1) ($mm) Adjusted Gross Profit (1) ($mm) $3,500 $2,800 $2,407 $2,607 $2,801 $3,094 $3,366 $800 $640 $531 $603 $670 $745 $796 $2,100 $480 $1,400 $700 $320 $160 22.1% 23.1% 23.9% 24.1% 23.6% $0 2013 2014 2015 2016 2017 $0 2013 2014 2015 2016 2017 Adjusted EBITDA (1) ($mm) Capital Expenditures (2) ($mm) $250 $200 $194 $200 $80 $60 $62 (3) $59 $53 $66 $150 $100 $50 $93 3.8% $114 4.4% $130 4.6% 6.3% 5.9% $40 $20 $34 $0 2013 2014 2015 2016 2017 $0 2013 2014 2015 2016 2017 20 1. See Non-GAAP (Adjusted) Financial Measures page of this presentation for definition of Adjusted net sales, Adjusted gross profit and Adjusted EBITDA. 2. Pro Forma Capital Expenditures including both legacy BMC and legacy Stock Building Supply; Also includes capital leases. 3. Excludes $15mm of capital expenditures related to the purchase of a facility which was sold shortly thereafter as part of a sale-lease back.

CLICK FIRST QUARTER TO EDIT TITLE 2018 HIGHLIGHTS Strong Growth in Value-Added Components Gross Profit Improvement Improved Profitability Adjusted EBITDA 1 Growth Operating Cash Flow Operational Excellence Structural Components growth of 23.6% $50 million in Q1 Ready-Frame sales, up 47% Total net sales up 10.1% Gross profit dollars up 11.7%, gross margin up 40 bps Reflects 100 bps year-over-year improvement in gross margin within the Lumber & Lumber Sheet Goods product category Net income grew $11.6 million to $15.4 million Adjusted earnings per share 1 of $0.29, up $0.18 Adjusted EBITDA 1 up $13.6 million to $47.2 million Adjusted EBITDA margin 1 up 130 bps over Q1 17 Delivered $23.2 million of operating cash flow Unlocking productivity opportunities through LEAN training Improving efficiency in our manufacturing and distribution operations Investing to increase automation in our processes 21 1. Adjusted earnings per share, Adjusted EBITDA and Adjusted EBITDA margin are non-gaap financial measures. See Non-GAAP (Adjusted) Financial Measures pages of this presentation for definition of Adjusted EBITDA and a reconciliation to net income, the most directly comparable GAAP measure.

CLICK Q1 2018 TO FINANCIAL EDIT TITLERESULTS 22 $850 $825 $800 $775 $750 $725 $700 $50 $45 $40 $35 $30 $ in millions $757.7 Q1 '17 Sales $ in millions $33.6 Q1 '17 Adjusted EBITDA Q1 2018 Net Sales Bridge $51.4 Lumber & Sheet Goods Inflation $21.4 Acquisitions $18.3 Organic & Other Growth ($14.6) Multi-family & Commercial Q1 2018 Adjusted EBITDA 1 Bridge $7.3 Commodity Inflation $2.9 Change in Lumber and Lumber Sheet Goods Gross Margin $2.4 Volume Growth & Other Operating Improvements $1.0 $834.2 Q1 '18 Sales $47.2 Acquisitions Q1 '18 Adjusted EBITDA Q1 2018 Commentary Net sales growth of 10.1% Commodity inflation adds $51 million to net sales as average selling prices on lumber and sheet goods up ~21% vs. prior year Sales from TexPly, Code Plus and first month of Shone Lumber total $21.4 million Strong 23.6% growth in structural components Growth in single-family and professional remodeling partially offset by declines in multi-family and commercial customer type 41% improvement in Adjusted EBITDA 1 Inflationary benefits accelerate as higher prices more fully absorbed Lumber and lumber sheet goods gross margin up 100 bps primarily due to temporary drop in structural panel market Lower than average contribution from acquisitions primarily due to Q1 seasonality 1. Adjusted EBITDA is a non-gaap financial measure. See Non-GAAP (Adjusted) Financial Measures pages of this presentation for definition of Adjusted EBITDA and a reconciliation to net income, the most directly comparable GAAP measure.

CLICK SOLID START TO EDIT IN TITLE Q1 RAISES CONFIDENCE FOR FULL YEAR 2018 Fundamentals Support Continued Improvement 2018 Year Over Year End Market Growth Assumptions Q1 2018 BMC Customer Mix Single-Family Starts Median Size of New Home 5% - 8% 1% - 2% Single-Family Homebuilders Remodeling Contractors 11.4% 12.2% Professional Remodeling Multi-Family Starts 3% - 5% 8% - 12% Multi-Family, Commercial & Other Contractors 76.4% BMC Full Year 2018 Expectations 2018 organic volume growth 2018 commodity inflation 2018 sales growth from completed acquisitions 1 2018 total net sales growth 2018 Incremental Operating Margins 2, 3 Longer-term Incremental Operating Margins 2 2% - 5% Deceleration in YoY benefits vs. Q1 Up 2% Up 6% 11% 9% 12% 10% 15% 23 1. Includes Code Plus, TexPly and Shone Lumber acquisitions 2. Incremental operating margin is defined as the change in operating income divided by the change in net sales. 3. Revised from previous expectation provided on Feb 27, 2018

CLICK STRONG TO BALANCE EDIT TITLESHEET TO SUPPORT GROWTH FLEXIBILITY FOR CONTINUED INVESTMENTS AND DISCIPLINED, ACCRETIVE M&A Attractive Cash Flow Dynamics Balance Sheet Positioned to Invest Improving Adjusted EBITDA 1 trends Working capital usage ~12-13% of sales 2018 Expectations: Capital expenditures: $55 to $65 million Depreciation expense: $50 to $55 million 2 Amortization expense: $15 to $16 million Interest expense: $24 to $26 million Effective tax rate: 25% 3/31/2018 Long-Term Debt $357 million Long-Term Debt/ LTM 3/31/2018 Adjusted EBITDA (1) 1.7x $375 million revolving ABL facility with extended maturity; $12.2 million outstanding borrowings at 3/31/2018 $301.5 million of availability for strategic investments and seasonal working capital needs $350 million 5.5% Senior Secured Notes maturing 2024 Leverage target of 2.0x to 2.5x allows flexibility to make strategic investments but remains prudent 24 1. Adjusted EBITDA is a non-gaap financial measure. See Non-GAAP (Adjusted) Financial Measures pages of this presentation for definition of Adjusted EBITDA. 2. Revised from previous expectation provided on Feb 27, 2018

1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 1,600 1,200 800 400 25 CLICK DRIVING TO LONG-TERM EDIT TITLE SHAREHOLDER VALUE -- 0 LEVERAGING STRONG FOUNDATION AND CORE CAPABILITIES TO ACCELERATE PROFITABLE GROWTH PROFITABLE GROWTH Favorable Macro Trends Job & Wage Growth Consumer Confidence Low Levels of Inventory Favorable demographics U.S. Single Family Housing Starts (1) Source: United States Census Bureau. (1) 50 year average Differentiated Value- Added Solutions Ready-Frame - Revolutionary framing solution, helping builders navigate labor shortage E-Business Suite Providing customers what they want when and how they want it Wide Breadth of Value- Added Offerings: Structural Components, including EWP, trusses, wall panels, etc. Millwork, Doors & Windows Solid Balance Sheet Provides Foundation for Growth Growth Strategies to Drive Profitable Growth Expand Value-Added Categories: Structural Components Millwork, Doors & Windows Execute with Culture of Operational Excellence, Customer Service and Innovation Strategic Tuck-In Acquisitions Gain Market Share in Professional Remodeling

BMC STOCK HOLDINGS REPORTED (GAAP) INCOME STATEMENT ($ths) FY 2015 Q1 16 Q2 16 Q3 16 Q4 16 FY 2016 Q1 17 Q2 17 Q3 17 Q4 17 FY 2017 Q1 18 Net sales 1,576,746 727,418 797,547 821,204 747,574 3,093,743 757,700 886,375 881,012 840,881 3,365,968 834,202 Cost of sales 1,215,336 560,801 605,892 618,238 566,847 2,351,778 579,503 674,688 671,467 644,795 2,570,453 635,118 Gross profit 361,410 166,617 191,655 202,966 180,727 741,965 178,197 211,687 209,545 196,086 795,515 199,084 SG&A 306,843 141,781 139,897 149,498 140,623 571,799 148,888 157,789 158,193 154,676 619,546 160,204 Depreciation expense 15,700 8,792 9,290 9,784 10,575 38,441 10,561 10,941 11,053 10,467 43,022 9,506 Amortization expense 3,626 5,245 5,288 5,349 4,839 20,721 3,821 4,100 4,026 4,056 16,003 3,657 Impairment of assets - 11,883 - - 45 11,928-26 409-435 - Merger and integration costs Income (loss) from operations 22,993 2,836 3,597 4,655 4,252 15,340 4,441 6,324 2,574 1,997 15,336 1,687 12,248 (3,920) 33,583 33,680 20,393 83,736 10,486 32,507 33,290 24,890 101,173 24,030 Interest expense (27,552) (8,231) (8,121) (7,668) (6,111) (30,131) (6,088) (6,495) (6,377) (6,076) (25,036) (5,982) Loss on debt extinguishment Other income (expense), net (Loss) income before income taxes Income tax (benefit) expense - - - (12,529) - (12,529) - - - - - - 784 1,455 1,411 735 469 4,070 319 964 1,083 3,324 5,690 1,950 (14,520) (10,696) 26,873 14,218 14,751 45,146 4,717 26,976 27,996 22,138 81,827 19,998 (9,689) (3,940) 8,891 4,982 4,333 14,266 973 9,380 9,553 4,496 24,402 4,639 27Net (loss) income (4,831) (6,756) 17,982 9,236 10,418 30,880 3,744 17,596 18,443 17,642 57,425 15,359

BMC STOCK HOLDINGS RECONCILIATION OF NON-GAAP ITEMS ADJUSTED NET SALES ($ths) FY 2013 FY 2014 FY 2015 Q1 16 Q2 16 Q3 16 Q4 16 FY 2016 Q1 17 Q2 17 Q3 17 Q4 17 FY 2017 Q1 18 Net sales 1,210,156 1,311,498 1,576,746 727,418 797,547 821,204 747,574 3,093,743 757,700 886,375 881,012 840,881 3,365,968 834,202 Pre-merger SBS net sales 1,197,037 1,295,716 1,223,875 - - - - - - - - - - - Adjusted net sales 2,407,193 2,607,214 2,800,621 727,418 797,547 821,204 747,574 3,093,743 757,700 886,375 881,012 840,881 3,365,968 834,202 Structural components 420,337 108,890 121,187 123,539 108,145 461,761 109,891 138,306 145,185 129,237 522,619 135,829 Lumber & sheet goods 864,868 213,532 244,830 248,751 231,450 938,563 244,436 290,499 294,699 284,585 1,114,219 288,086 Millwork, doors & windows Other building prods & svcs Adjusted net sales by product category 794,643 217,987 228,423 232,292 216,187 894,889 210,751 240,999 225,804 229,823 907,377 229,518 720,773 187,009 203,107 216,622 191,792 798,530 192,622 216,571 215,324 197,236 821,753 180,769 2,800,621 727,418 797,547 821,204 747,574 3,093,743 757,700 886,375 881,012 840,881 3,365,968 834,202 Gross profit 256,547 295,074 361,410 741,965 795,515 Pre-merger SBS gross profit 274,403 307,654 298,393 - - Inventory step-up charges - - 10,285 2,884 - Adjusted gross profit 530,950 602,728 670,088 744,849 795,515 Adjusted gross margin % 22.1% 23.1% 23.9% 24.1% 23.6% 28

BMC STOCK HOLDINGS RECONCILIATION OF NON-GAAP ITEMS ADJUSTED EBITDA ($ths) FY 2013 FY 2014 FY 2015 Q1 16 Q2 16 Q3 16 Q4 16 FY 2016 Q1 17 Q2 17 Q3 17 Q4 17 FY 2017 Q1 18 Net income (loss) 21,655 94,032 (4,831) (6,756) 17,982 9,236 10,418 30,880 3,744 17,596 18,443 17,642 57,425 15,359 Pre-merger SBS (loss) income from continuing operations (5,036) 10,087 6,842 - - - - - - - - - - - Interest expense 22,579 29,774 30,189 8,231 8,121 7,668 6,111 30,131 6,088 6,495 6,377 6,076 25,036 5,982 Income tax expense (benefit) Depreciation and amortization Merger and integration costs 9,147 (59,237) (9,974) (3,940) 8,891 4,982 4,333 14,266 973 9,380 9,553 4,496 24,402 4,639 25,827 28,799 39,251 16,682 17,139 17,276 17,583 68,680 16,813 17,558 17,625 17,221 69,217 15,681 - - 37,998 2,836 3,597 4,655 4,252 15,340 4,441 6,324 2,574 1,997 15,336 1,687 Restructuring expense 141 73 383 - - - - - - - - - - - Inventory step-up charges Non-cash stock compensation expense Loss on debt extinguishment Headquarters relocation Insurance deductible reserve adj. and fire casualty loss Loss on portfolio transfer Acquisition costs and other items - - 10,285 2,884 - - - 2,884 - - - - - - 3,474 6,079 5,452 1,889 1,804 1,851 1,708 7,252 1,231 2,154 1,366 2,018 6,769 1,775 - - - - - 12,529-12,529 - - - - - - - 2,054 3,865 - - - - - - - - - - - 1,772 669 3,026 - - - - - - - - - - - - - 2,826 - - - - - - - - - - - 12,995 1,828 4,216 - - - - - 273 44 2,950 (1,884) 1,383 2,057 Impairment of assets - - - 11,883 - - 45 11,928-26 409-435 - Adjusted EBITDA 92,554 114,158 129,528 33,709 57,534 58,197 44,450 193,890 33,563 59,577 59,297 47,566 200,003 47,180 Adjusted EBITDA 29 margin 3.8% 4.4% 4.6% 4.6% 7.2% 7.1% 5.9% 6.3% 4.4% 6.7% 6.7% 5.7% 5.9% 5.7%

BMC STOCK HOLDINGS RECONCILIATION OF NON-GAAP ITEMS ADJUSTED NET INCOME AND ADJUSTED EARNINGS PER SHARE (in $ths, except per share amounts) Q1 2018 Q1 2017 Net income 15,359 3,744 Merger and integration costs 1,687 4,441 Non-cash stock compensation expense 1,775 1,231 Acquisition Costs (a) 234 273 Other Items (b) 1,823 - Tax effect of adjustments to net income (c) (1,304) (2,039) Adjusted net income 19,574 7,650 Diluted weighted avg. shares used to calculate Adjusted net income per diluted share 67,664 67,186 Adjusted net income per diluted share $0.29 $0.11 (a) (b) (c) For the three months ended March 31, 2018, represents costs incurred related to the acquisition of W.E. Shone Co. For the three months ended March 31, 2017, represents costs incurred related to the acquisitions of Code Plus Components, LLC and Texas Plywood and Lumber Company, Inc. Represents severance and executive search costs incurred in connection with the departure of the Company s former chief executive officer and the search for his permanent replacement. The tax effect of adjustments to net income was based on the respective transactions income tax rate, which was 23.6% and 37.3% for the three months ended March 31, 2018 and 2017, respectively. The tax effect of adjustments to net income exclude non-deductible Merger and integration costs of $0.5 million for the three months ended March 31, 2017. 30