EX-99.2 3 ex99-2.htm EXHIBIT 99.2

Exhibit 99.2

BlueLinx Quarterly Review 4th Quarter 2013

Slide 2 BlueLinx Holdings Inc. ‪ Forward - Looking Statement Safe Harbor - This presentation includes "forward - looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 . All of these forward - looking statements are based on estimates and assumptions made by our management that, although believed by us to be reasonable, are inherently uncertain . Forward - looking statements involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward - looking statements . These risks and uncertainties may include, among other things : changes in the supply and/or demand for products which we distribute, especially as a result of conditions in the residential housing market ; general economic and business conditions in the United States ; the activities of competitors ; changes in significant operating expenses ; changes in the availability of capital ; the ability to identify acquisition opportunities and effectively and cost - efficiently integrate acquisitions ; adverse weather patterns or conditions ; acts of war or terrorist activities ; variations in the performance of the financial markets ; and other factors described in the "Risk Factors" section in our Annual Report on Form 10 - K for the fiscal year ended December 29 , 2012 , and in our other periodic reports filed with the SEC . In addition, the statements in this presentation are made as of February 20 , 2014 . We undertake no obligation to update any of the forward - looking statements made herein, whether as a result of new information, future events, changes in expectation or otherwise . These forward - looking statements should not be relied upon as representing our views as of any date subsequent to February 20 , 2014 . Use of Non - GAAP and Adjusted Financial Information - To supplement GAAP financial information, we use adjusted measures of operating results which are non - GAAP measures . This non - GAAP adjusted financial information is provided as additional information for investors . These adjusted results exclude certain costs, expenses, gains and losses, and we believe their exclusion can enhance an overall understanding of our past financial performance and also our prospects for the future . These adjustments to our GAAP results are made with the intent of providing both management and investors a more complete understanding of our operating performance by excluding non - recurring, infrequent or other non - cash charges that are not believed to be material to the ongoing performance of our business . The presentation of this additional information is not meant to be considered in isolation or as a substitute for GAAP measures of net earnings, diluted earnings per share or net cash provided by (used in) operating activities prepared in accordance with generally accepted accounting principles in the United States .

Slide 3 Executive Summary ▪ Fourth quarter 2013 sales were $486.3 million, an increase of 10.4% over the 2012 fourth quarter – Sales were positively impacted by $19.2 million or 4.4% due to extra week ▪ Same center sales adjusted for the extra week were up $50.4 million in the quarter ▪ Adjusted EBITDA loss for the fourth quarter of 2013 was $1.0 million, an improvement of $0.4 million over the fourth quarter of 2012 – Considering extra week, Adjusted EBITDA improved by $1.5 million ▪ Gross margin at 11.2% compares favorably to full year margin of 10.6% ▪ Results include a pre - tax gain of $ 1 . 3 million, or $ 0 . 02 per diluted share related to the sale of the Company’s Sioux Falls distribution center ▪ Excess availability of $45.8 million was negatively impacted by accounts payable late in the year – Impact was short term – Availability as of February 8, 2014 has increased to $59.2 million ▪ End markets continue to improve with single family housing starts up 11% in the fourth quarter

Slide 4 Doug Goforth Chief Financial Officer and Treasurer Quarterly Review

Slide 5 Quarterly Revenue Revenues ($ in millions) 270.9 333.5 320.6 196.1 233.5 276.5 243.2 215.1 249.1 274.9 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 Variance Analysis $23.1 $16.3 $6.6 Specialty Unit Volume 9.2% YOY $46.0 or 10.4% Structural Unit Volume 8.3% Price/Other $46.0 44% 56% 4Q ‘12 4Q ‘13 56% 44% Vs. Year Ago ▪ Revenue up 10.4% ▪ Same center revenue up 16.7% ▪ Specialty sales up 10.4% ▪ Structural sales up 9.7% ▪ Specialty / Structural product mix flat year - over - year % by Product Revenues ($ in millions) 233.1 286.0 264.3 171.0 203.7 265.4 213.9 154.8 206.2 221.4 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 Specialty Structural Other $367 $366. $431 $540. $464. Revenues ($ in millions) 233.1 286.0 264.3 171.0 203.7 265.4 213.9 154.8 206.2 221.4 4Q '09 1Q '10 2Q '10 3Q '10 4Q '10 Specialty Structural Other $367 $366. $431 $540. $464. $604.6 $558.0 $486.3 $440.3 $503.2

Slide 6 Cash Flows BXC generated $30.9 million in operating cash flow for the quarter Unaudited (in millions) $12.5 $30.9 ($74.3) ($39.9) Quarter Year 2012 2013 Q412 Q413 2012 2013 Net cash (used in) provided by operating activities 12.5 30.9 (74.3) (39.9) Net cash (used in) provided by investing activities 0.3 1.4 16.4 5.5 Net cash provided by (used in) financing activities (15.4) (34.1) 58.2 34.3 Increase (decrease) in cash (2.7) (1.9) 0.3 (0.2) Cash balance, beginning of period 7.9 6.9 4.9 5.2 Cash balance, end of period 5.2$ 5.0$ 5.2$ 5.0$

Slide 7 Debt U.S. Revolver ▪ $44.5 million excess availability as of January 4, 2014 ▪ LIBOR plus 3.50% as of January 4, 2014 ▪ $447.5 million facility with additional $75 million uncommitted accordion facility – Matures April 15, 2016 Canadian Revolver ▪ $1.3 million excess availability as of January 4, 2014 ▪ LIBOR or Bankers’ Acceptance plus 2.50%; Canadian Prime Loan or U.S. Base Rate plus 1.00% ▪ $10 million facility with additional $5 million uncommitted accordion facility – Matures the earlier of August 12, 2016 or the maturity of the U.S. Revolver Mortgage (10 Year Term @ 6.35%) ▪ Matures July 2016 ▪ Remaining real estate under the 2006 mortgage appraised at approximately $340 million in June 2006 with a book value of $86.6 million as of January 4, 2014. ▪ LCR Trap is triggered if operating TTM EBITDAR coverage ratio is less than 2.5x for two consecutive quarters ▪ Principal – 2014 $9.1 million; 2015 $2.7 million; 2016 $175.1 million Debt $ in millions March 31, 2012 June 30, 2012 September 29, 2012 December 29, 2012 March 30, 2013 June 29, 2013 September 28, 2013 January 4, 2014 Revolving Credit Facilities $ 177.7 $ 206.7 $ 185.2 $ 171.5 $ 242.4 $ 300.0 $ 239.5 $ 211.2 Mortgage 236.1 235.5 234.9 206.0 205.3 201.8 198.4 186.9 TOTAL DEBT (GAAP) $ 413.8 $ 442.2 $ 420.1 $ 377.4 $ 447.7 $ 501.8 $ 437.9 $ 398.1 Less: Cash and Cash Equivalents (5.9) (5.2) (7.9) (5.2) (5.3) (8.4) (6.9) (5.0) Mortgage LCR Trap (7.3) (10.0) (25.6) - (3.0) (2.8) (9.0) - Net Debt (Non-GAAP) $ 400.6 $ 427.0 $ 386.6 $ 372.2 $ 439.4 $ 490.6 $ 422.0 $ 393.1 Excess Availability $ 121.9 $ 105.4 $ 112.1 $ 88.0 $ 125.5 $ 93.0 $ 92.5 $ 45.8 Minimum Required $ 43.7 $ 45.6 $ 43.2 $ 38.2 $ 45.4 $ 47.8 $ 40.5 $ 31.8

Slide 8 Cash Cycle TTM Cash Cycle days at 60, down one day sequentially and up 2 days compared to the prior year quarter Cash Cycle Days (in days) 49 53 53 52 52 (25) (28) (26) (26) (25) 34 36 36 35 33 -40 -20 0 20 40 60 80 100 4Q '12 1Q '13 2Q '13 3Q 13 4Q 13 58 60 63 61 61 Cash cycle days equal accounts receivable days + inventory days – accounts payable days using a trailing twelve month average be ginning and ending balance. The days calculations use calendar days. Cash Cycle Days (in days) 48 50 49 48 49 (28) (28) (27) (26) (28) 35 36 36 34 36 -40 -20 0 20 40 60 80 100 A/P & OD's A/R INV 58 5 8 5 7 55 5 6 Cash Cycle Days (in days) 48 50 49 48 49 (28) (28) (27) (26) (28) 35 36 36 34 36 -40 -20 0 20 40 60 80 100 A/P & OD's A/R INV 58 5 8 5 7 55 5 6 Cash Cycle Days (in days) 48 50 49 48 49 (28) (28) (27) (26) (28) 35 36 36 34 36 -40 -20 0 20 40 60 80 100 A/P & OD's A/R INV 58 5 8 5 7 55 5 6

Slide 9 Mitch Lewis Chief Executive Officer

Slide 10 End - Use Market Outlook ▪ Builder confidence is consistent with a rapidly improving residential construction market ▪ Improving housing market; annual projections for total starts of 1.1 million and 1.3 million in 2014 and 2015 respectively ▪ Residential improvement expenditures expected to increase with growth averaging 4% - 5% in 2014 and 2015 – increased existing home sales – aging housing stock – “fix up” rather than “move up” (source: Forest Economic Advisors) Improving View of End - Use Markets Expenditures on US Residential Improvements Billion $2009 85 95 105 115 125 135 09 10 11 12 13 14 15 Source: Forest Economic Advisors US Housing Million Units (SAAR) 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 09 10 11 12 13 14 15 Single Multi Mobile Source: Census Bureau , Forest Economic Advisors 0 10 20 30 40 50 60 70 80 90 100 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 Source: NAHB/Wells Fargo Housing Market Index, Census Bureau , Forest Economic Advisors NAHB Builder Confidence Index Thousands of Single-Family Housing Starts Builder Confidence Points to Higher Housing Starts

Slide 11 Gross Margin and Revenue Mix Analysis Products Gross Margin Analysis 4Q12 1Q13 2Q13 3Q13 4Q13 4Q13 Variance from Year Ago Qtr Structural Products Warehouse 10.8% 10.6% 4.6% 9.1% 10.1% (0.7%) Direct 3.5% 2.6% 3.1% 3.4% 3.5% 0.0% Reload 4.2% 4.9% 1.5% 2.9% 4.7% 0.5% Total 8.9% 8.7% 4.0% 7.3% 8.2% (0.7%) Specialty Products Warehouse 15.6% 15.7% 15.7% 14.0% 14.9% (0.7%) Direct 7.2% 7.5% 7.8% 7.3% 8.2% 1.0% Reload 7.8% 7.8% 7.5% 8.0% 8.4% 0.6% Total 13.3% 13.0% 13.4% 12.2% 13.0% (0.3%) Total 11.8% 11.2% 9.1% 11.2% 11.2% (0.6%) Revenue Channel Mix Analysis 4Q12 1Q13 2Q13 3Q13 4Q13 4Q13 Variance from Year Ago Qtr Total Products Warehouse 72.3% 69.9% 71.0% 71.5% 70.2% (2.1%) Direct 19.7% 20.8% 18.2% 18.0% 19.4% (0.3%) Reload 8.0% 9.3% 10.8% 10.5% 10.4% 2.4% Total 100.0% 100.0% 100.0% 100.0% 100.0% 0.0%

Slide 12 Adjusted EBITDA Positive Adjusted EBITDA in 4 th Quarter and 2 nd Half of 2013 ($1.4) 0.1 $2.2 $7.3 Adjusted EBITDA Improves $1.5 million for Qtr and $5.1 million for 2 nd half of 2013 Quarter 2 nd Half Year Adjusted for 53 rd week of 2013 2012 2013 Same Center Sales $ in millions (1) 4Q 2012 4Q 2013 % Inc(Dec) Second Half 2012 Second Half 2013 % Inc(Dec) Total Net Sales $ 440.3 $ 486.3 10.4% $ 937.1 $ 1,044.3 11.4% Less: Closed Center 23.6 - (100.0%) 51.4 22.4 (56.4%) Same Center $ 416.7 $ 486.3 16.7% $ 885.7 $ 1,021.9 15.4% Less week of December 29, 2013 - 19.2 nmf - 19.2 nmf Comparable 13/52-week vs. 13/52-week $ 416.7 $ 467.1 12.1% $ 885.7 $ 1,002.7 13.2% Adjusted EBITDA $ in millions (1) 4Q 2012 4Q 2013 $ Inc(Dec) Second Half 2012 Second Half 2013 $ Inc(Dec) GAAP net loss $ (11.4) $ (2.5) 8.9$ (8.3)$ (5.7)$ 2.6$ Adjustments: Depreciation and amortization 2.0 2.6 0.6 4.1 4.7 0.6 Interest expense 6.8 7.0 0.2 14.1 13.9 (0.1) Provision for (benefit from) income taxes 0.0 (8.3) (8.3) (0.0) (8.9) (8.9) (income) loss from closed distribution centers 0.7 - (0.7) 0.3 1.9 1.6 Gain from sale of certain properties (0.2) (1.3) (1.1) (9.4) (5.0) 4.4 Gain from property insurance settlement - - - - - - Stock Compensation (excluding restructuring) 0.7 0.4 (0.3) 1.4 1.3 (0.0) Restructuring and severance related costs - 1.2 1.2 - 3.9 3.9 Adjusted EBITDA Same Center (1.4)$ (1.0)$ 0.4$ 2.2$ 6.2$ 4.0$ Add back loss week of December 29, 2013 - 1.1 1.1 - 1.1 1.1 Comparable 13/52-week vs. 13/52-week (1.4)$ 0.1$ 1.5$ 2.2$ 7.3$ 5.1$ % Same Center (0.3%) (0.2%) 0.2% 0.6% % Comparable 13/52-week vs. 13/52-week (0.3%) 0.0% 0.2% 0.7% (1) Immaterial rounding adjustments and differences may exist between appendix slides, presentation slides, press releases and previously issued presentations.

Slide 13 Key Initial Activities Key Emphasis Early in the Year ▪ Assessing existing capital structure ▪ Anticipated end market recoveries ▪ Additional liquidity for potential expanding working capital needs ▪ Gross margin expansion ▪ Driving data oriented decisions regarding pricing ▪ Establishing effective price assessment tools ▪ Focus on mix enhancement throughout organization ▪ Improving operational efficiencies ▪ Assessing organization to provide a more consistent approach to operation and logistics ▪ Routing and facility optimization to improve variable cost structure Initial view is there is tremendous opportunity at BlueLinx to leverage our infrastructure and scale for improved operational profitability

Slide 14 Appendix TOPIC PAGE Profit and Loss Statement by Quarter 15 Same Center Sales and Adjusted EBITDA by Quarter 16 Revenue and Unit Volume by Quarter 17 Gross Margin by Quarter 18 Operating Expense by Quarter 19 Structural Product Price Trends 20 Reconciliation of GAAP Net Loss to Non - GAAP Adjusted Net Loss 21 Reconciliation of GAAP Debt to Non - GAAP Net Debt 22 Reconciliation of GAAP Net Loss to Non - GAAP Adjusted EBITDA 23 Reconciliation of GAAP to Non - GAAP Comparable 13/52 week 24

Slide 15 Profit & Loss Statement by Quarter Profit & Loss Statement $ in millions (1) , except per share amounts 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Sales $ 453.7 $ 517.0 $ 496.8 $ 440.3 $ 503.2 $ 604.6 $ 558.0 $ 486.3 $ 1,755.4 $ 1,907.8 $ 2,152.1 Cost of Goods Sold 399.5 453.8 436.3 388.2 446.7 549.5 495.5 432.0 1,545.3 1,677.8 1,923.7 Gross Profit 54.2 63.2 60.5 52.1 56.5 55.1 62.5 54.3 210.1 230.0 228.4 Gross Margin % 12.0% 12.2% 12.2% 11.8% 11.2% 9.1% 11.2% 11.2% 12.0% 12.1% 10.6% Operating Expenses SG&A 56.1 57.1 48.1 54.6 59.4 68.5 57.3 55.5 207.8 215.9 240.7 D&A 2.2 2.2 2.1 2.0 2.2 2.2 2.1 2.6 10.6 8.5 9.1 Total Operating Expenses 58.3 59.3 50.2 56.6 61.6 70.7 59.4 58.1 218.4 224.4 249.8 Operating Income (4.1) 3.9 10.3 (4.5) (5.1) (15.6) 3.1 (3.8) (8.3) 5.6 (21.4) Interest Expense 6.8 7.3 7.3 6.8 7.2 6.9 6.9 7.0 30.6 28.2 28.0 Changes associated with the ineffective interest rate swap - - - - - - - - (1.8) - - Other Expense/(Income) (0.1) 0.1 - - 0.1 0.1 - - 0.5 - 0.2 Income before Tax (10.8) (3.5) 3.0 (11.3) (12.4) (22.6) (3.8) (10.8) (37.6) (22.6) (49.6) Tax Expense/(Benefit) 0.2 0.2 (0.1) 0.1 0.2 (0.3) (0.6) (8.3) 1.0 0.4 (9.0) Net Income/(Loss) $ (11.0) $ (3.7) $ 3.1 $ (11.4) $ (12.6) $ (22.3) $ (3.2) $ (2.5) $ (38.6) $ (23.0) $ (40.6) Diluted EPS $ (0.17) $ (0.06) $ 0.05 $ (0.17) $ (0.19) $ (0.27) $ (0.04) $ (0.03) $ (0.82) $ (0.35) $ (0.51) (1) Immaterial rounding adjustments and differences may exist between appendix slides, presentation slides, press releases and previously issued presentations. 20132012

Slide 16 Same Center Sales and Adjusted EBITDA Same Center Sales $ in millions (1) 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Total Net Sales $ 453.7 $ 517.0 $ 496.8 $ 440.3 $ 503.2 $ 604.6 $ 558.0 $ 486.3 $ 1,907.8 $ 2,152.1 Less: Closed Center 23.4 29.9 27.8 23.6 29.5 33.7 22.4 - 104.7 85.6 Same Center $ 430.3 $ 487.1 $ 469.0 $ 416.7 $ 473.7 $ 570.9 $ 535.6 $ 486.3 $ 1,803.1 $ 2,066.5 Less week of December 29, 2013 - - - - - - - 19.2 - 19.2 Comparable 13/52-week vs. 13/52-week $ 430.3 $ 487.1 $ 469.0 $ 416.7 $ 473.7 $ 570.9 $ 535.6 $ 467.1 $ 1,803.1 $ 2,047.2 Adjusted EBITDA $ in millions (1) 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 GAAP net loss (11.0)$ (3.7)$ 3.1$ (11.4)$ (12.6)$ (22.3)$ (3.2)$ (2.5)$ (23.0)$ (40.6)$ Adjustments: Depreciation and amortization 2.3 2.2 2.1 2.0 2.2 2.2 2.1 2.6 8.6 9.1 Interest expense 6.8 7.3 7.3 6.8 7.2 6.9 6.9 7.0 28.2 28.0 Provision for (benefit from) income taxes 0.2 0.2 (0.1) 0.0 0.2 (0.3) (0.6) (8.3) 0.3 (9.0) (income) loss from closed distribution centers (0.2) (0.6) (0.4) 0.7 0.2 1.6 1.9 - (0.5) 3.7 Gain from sale of certain properties (0.6) 0.0 (9.2) (0.2) (0.2) - (3.7) (1.3) (9.9) (5.2) Gain from property insurance settlement - (0.5) - - - - - - (0.5) - Stock Compensation (excluding restructuring) 0.7 0.7 0.7 0.7 0.8 1.1 1.0 0.4 2.8 3.2 Restructuring and severance related costs - - - - 0.9 7.3 2.8 1.2 - 12.1 Adjusted EBITDA Same Center (1.8)$ 5.7$ 3.5$ (1.4)$ (1.4)$ (3.5)$ 7.2$ (1.0)$ 6.0$ 1.3$ Add back loss week of December 29, 2013 - - - - - - - 1.1 - 1.1 Comparable 13/52-week vs. 13/52-week (1.8)$ 5.7$ 3.5$ (1.4)$ (1.4)$ (3.5)$ 7.2$ 0.1$ 6.0$ 2.4$ % Same Center (0.4%) 1.2% 0.8% (0.3%) (0.3%) (0.6%) 1.3% (0.2%) 0.3% 0.1% % Comparable 13/52-week vs. 13/52-week (0.4%) 1.2% 0.8% (0.3%) (0.3%) (0.6%) 1.3% 0.0% 0.3% 0.1% 2012 2013 2012 2013 (1) Immaterial rounding adjustments and differences may exist between appendix slides, presentation slides, press releases and previously issued presentations.

Slide 17 Revenue and Unit Volume by Quarter Sales $ in millions 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Specialty $ 268.1 $ 307.9 $ 288.9 $ 249.1 $ 270.9 $ 333.5 $ 320.6 $ 274.9 $ 1,068.2 $ 1,114.0 $ 1,199.9 Structural 182.9 215.7 211.4 196.1 233.5 276.5 243.2 215.1 704.9 806.1 968.3 Other (1) 2.7 (6.6) (3.5) (4.8) (1.2) (5.4) (5.8) (3.7) (17.7) (12.3) (16.1) Total $ 453.7 $ 517.0 $ 496.8 $ 440.3 $ 503.2 $ 604.6 $ 558.0 $ 486.3 $ 1,755.4 $ 1,907.8 $ 2,152.1 (1) Includes cash discounts, service revenue, Canadian conversion, and accruals. Mix Specialty 59.4% 58.8% 57.7% 56.0% 53.7% 54.7% 56.9% 56.1% 60.2% 58.0% 55.3% Structural 40.6% 41.2% 42.3% 44.0% 46.3% 45.3% 43.1% 43.9% 39.8% 42.0% 44.7% 20132012 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Specialty 12.4% (2.3%) (1.0%) 5.4% 1.5% 7.4% 10.2% 9.2% 7.4% 2.9% 7.1% Structural 9.4% 0.4% (3.3%) (0.8%) 4.5% 12.6% 14.2% 8.3% (15.1%) 1.4% 10.1% Total 11.2% (1.3%) (1.9%) 2.9% 2.7% 9.5% 11.9% 8.8% (2.8%) 2.3% 8.4% Unit Volume Change 2012 2013

Slide 18 Gross Margin by Quarter Gross Margin $ in millions 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Specialty $ 33.7 $ 41.1 $ 38.1 $ 33.0 $ 35.3 $ 44.6 $ 39.0 $ 35.7 $ 137.3 $ 145.9 $ 154.6 Structural 18.0 20.4 21.0 17.5 20.3 11.1 17.8 17.7 64.8 76.9 66.9 Other 2.5 1.7 1.4 1.6 0.9 (0.5) 5.7 0.9 8.1 7.2 7.0 Total $ 54.2 $ 63.2 $ 60.5 $ 52.1 $ 56.5 $ 55.2 $ 62.5 $ 54.3 $ 210.2 $ 230.0 $ 228.5 Gross Margin %'s Specialty 12.6% 13.3% 13.2% 13.3% 13.0% 13.4% 12.2% 13.0% 12.9% 13.1% 12.9% Structural 9.9% 9.5% 9.9% 8.9% 8.7% 4.0% 7.3% 8.2% 9.2% 9.5% 6.9% Other n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a Total 12.0% 12.2% 12.2% 11.8% 11.2% 9.1% 11.2% 11.2% 12.0% 12.1% 10.6% 20132012

Slide 19 Operating Expense by Quarter Operating Expense (1) $ in millions 2011 2012 2013 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Payroll & related $38.5 $38.3 $37.2 $37.3 $38.5 $38.2 $37.1 $35.9 $149.3 $151.3 $149.7 General maintenance 5.2 5.5 5.6 5.4 5.6 6.1 5.7 5.6 21.4 21.7 $23.0 Fuel 4.1 4.1 3.6 3.6 3.3 3.8 3.6 3.4 15.8 15.4 $14.1 Depreciation and amortization 2.3 2.2 2.1 2.0 2.2 2.2 2.1 2.6 10.5 8.6 $9.1 Gain on sale of assets (0.7) (0.5) (9.2) (1.0) (0.3) (0.3) (4.4) (1.8) (13.2) (11.4) ($6.8) All Other (2) 8.9 9.7 11.0 9.4 12.3 20.7 15.3 12.4 34.6 39.0 $60.7 Total ( 3 ) $58.3 $59.3 $50.3 $56.7 $61.6 $70.7 $59.4 $58.1 $218.4 $224.6 $249.8 % of Total Sales 12.9% 11.5% 10.1% 12.9% 12.2% 11.7% 10.6% 11.9% 12.4% 11.8% 11.6% (1) Immaterial rounding adjustments and differences may exist between appendix slides, presentation slides, press releases and previously issued presentations. (2) Q3 '13 includes $2.8 million in non-recurring restructuring costs; Q2 '13 includes $7.3 million in non-recurring restructuring costs. (3) Q4 '13 includes $3.3 million in expenses due to one additional operating week in the fiscal period 20132012

Slide 20 Structural Products Price Trend Source: Data from Random Lengths Publications, Inc., updated as of January 3, 2014 Plywood Price Trend 2008-2013 YTD Southern Sheathing 15/32" 4 Ply. West Zone $100 $150 $200 $250 $300 $350 $400 $450 2008Q12008Q22008Q32008Q42009Q12009Q22009Q32009Q42010Q12010Q22010Q32010Q42011Q12011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q12013Q22013Q3 2013 Q4 ($/msf - 3/8") Oriented Strand Board Price Trend 2008 - 2013 YTD Oriented Strand Board 7/16" North Central Zone $100 $150 $200 $250 $300 $350 $400 $450 2008Q12008Q22008Q32008Q42009Q12009Q22009Q32009Q42010Q12010Q22010Q32010Q42011Q12011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q12013Q22013Q3 2013 Q4 ($/msf - 3/8") Lumber Price Trend 2008 - 2013 YTD Western SPF 2x4 #2 & Btr $100 $150 $200 $250 $300 $350 $400 $450 2008Q12008Q22008Q32008Q42009Q12009Q22009Q32009Q42010Q12010Q22010Q32010Q42011Q12011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q12013Q22013Q3 2013 Q4 ($/mbf)

Slide 21 Reconciliation of GAAP Net Loss to Non - GAAP Adjusted Loss BlueLinx Holdings Inc. Unaudited Reconciliation of GAAP Net Loss to Adjusted Net Loss in thousands January 4, December 29, January 4, December 29, 2014 2012 2014 2012 (unaudited) (unaudited) (unaudited) (unaudited) GAAP net loss (2,457)$ (11,370)$ (40,618)$ (23,027)$ Loss (income) from closed distribution centers - 706 3,689 (489) Gain from sale of certain properties (1,311) (204) (5,220) (9,885) Gain from property insurance settlement - - - (476) Restructuring and severance related costs 1,167 - 12,123 - Benefit from income taxes related to non-operating pension adjustments (8,004) - (8,726) - Tax effect of selected charges 56 (193) (4,088) 4,188 Valuation allowance 4,151 4,366 19,155 8,738 Adjusted net loss (6,398)$ (6,695)$ (23,685)$ (20,951)$ Quarters Ended Years Ended

Slide 22 Reconciliation of GAAP Debt to Non - GAAP Net Debt BlueLinx Holdings Inc. Unaudited Reconciliation of GAAP Debt to Non-GAAP Net Debt in millions December 29, 2012 January 4, 2014 (unaudited) (unaudited) Revolving Credit Facilities $ 171.5 $ 211.2 Mortgage 206.0 186.9 TOTAL DEBT (GAAP) $ 377.4 $ 398.1 Less: Cash and Cash Equivalents (5.2) (5.0) Mortgage LCR Trap - - Net Debt (Non-GAAP) $ 372.2 $ 393.1 Excess Availability $ 88.0 $ 45.8 Minimum Required $ 38.2 $ 31.8

Slide 23 Reconciliation of GAAP Net Loss to Non - GAAP Adjusted EBITDA BlueLinx Holdings Inc. Unaudited Reconciliation of GAAP Net loss to Non-GAAP Adjusted EBITDA in thousands Year Ended March 30, June 29, September 28, January 4, January 4, 2013 2013 2013 2014 2014 (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) GAAP net loss (12,649)$ (22,306)$ (3,206)$ (2,457)$ (40,618)$ Adjustments: Depreciation and amortization 2,173 2,229 2,144 2,571 9,117 Interest expense 7,192 6,916 6,918 6,998 28,024 Provision for (benefit from) income taxes 213 (292) (636) (8,297) (9,013) Loss from closed distribution centers 212 1,578 1,898 - 3,689 Gain from sale of certain properties (230) - (3,679) (1,311) (5,220) Gain from property insurance settlement - - - - - Stock compensation (excluding restructuring) 824 1,055 987 356 3,222 Restructuring and severance related costs 889 7,309 2,758 1,167 12,123 Adjusted EBITDA Same Center (1,376)$ (3,511)$ 7,184$ (973)$ 1,324$ Add back EBITDA loss week of December 29, 2013 - - - 1,081 1,081 Comparable 13/52-week vs. 13/52-week (1,376)$ (3,511)$ 7,184$ 108$ 2,405$ Percentage Same Center (0.3%) (0.6%) 1.3% (0.2%) 0.1% Percentage Comparable 13/52-week vs. 13/52-week (0.3%) (0.6%) 1.3% 0.0% 0.1% Year Ended March 31, June 30, September 29, December 29, December 29, 2012 2012 2012 2012 2012 (unaudited) (unaudited) (unaudited) (unaudited) (unaudited) GAAP net loss (11,019)$ (3,706)$ 3,068$ (11,370)$ (23,027)$ Adjustments: Depreciation and amortization 2,260 2,187 2,106 2,012 8,565 Interest expense 6,782 7,325 7,294 6,756 28,157 Provision for (benefit from) income taxes 205 197 (77) 61 386 (Income) loss from closed distribution centers (242) (574) (379) 706 (489) Gain from sale of certain properties (578) 48 (9,151) (204) (9,885) Gain from property insurance settlement - (476) - - (476) Stock compensation (excluding restructuring) 743 677 677 700 2,797 Restructuring and severance related costs - - - - - Adjusted EBITDA Same Center (1,849)$ 5,678$ 3,538$ (1,339)$ 6,028$ Add back EBITDA loss week of December 29, 2013 - - - - - Comparable 13/52-week vs. 13/52-week (1,849)$ 5,678$ 3,538$ (1,339)$ 6,028$ Percentage Same Center (0.4%) 1.2% 0.8% (0.3%) 0.3% Percentage Comparable 13/52-week vs. 13/52-week (0.4%) 1.2% 0.8% (0.3%) 0.3% Quarters Ended Quarters Ended

Slide 24 Reconciliation of GAAP to Non - GAAP Comparable 13/52 Week BlueLinx Holdings Inc. Unaudited Comparable 13/52 Week vs. 13/52 Week Periods Ended in thousands Quarters Ended Years Ended January 4, December 29, January 4, December 29, 2014 2012 2014 2012 (unaudited) (unaudited) (unaudited) (unaudited) Net Sales 486,275$ 440,298$ 2,151,972$ 1,907,842$ Less: Closed Center - 23,624 85,578 104,716 Same Center 486,275 416,674 2,066,394 1,803,126 Less week of December 29, 2013 (1) 19,219 - 19,219 - Comparable 13/52-week vs. 13/52-week 467,056$ 416,674$ 2,047,175$ 1,803,126$ Actual year-over-year percentage increase 10.4% 12.8% Same Center year-over-year percentage increase 16.7% 14.6% Comparable year-over-year percentage increase 12.1% 13.5% Gross profit 54,348$ 52,119$ 228,483$ 230,070$ Less: Closed Center - 2,782 6,294 13,144 Same Center 54,348 49,337 222,189 216,926 Less week of December 29, 2013 (1) 2,087 - 2,087 - Comparable 13/52-week vs. 13/52-week 52,261$ 49,337$ 220,102$ 216,926$ Total operating expenses 58,054$ 56,650$ 249,784$ 224,561$ Less: Closed Center - 3,488 9,983 12,655 Same Center 58,054 53,162 239,801 211,906 Less week of December 29, 2013 (2) 3,345 - 3,345 - Comparable 13/52-week vs. 13/52-week 54,709$ 53,162$ 236,456$ 211,906$ Percentage comparable sales 11.7% 12.8% 11.6% 11.8% Operating (loss) income (3,706)$ (4,531)$ (21,301)$ 5,509$ Add back loss from Closed Center - 706 3,689 (489) Same Center (3,706) (3,825) (17,612) 5,020 Add back loss week of December 29, 2013 1,258 - 1,258 - Comparable 13/52-week vs. 13/52-week (2,448)$ (3,825)$ (16,354)$ 5,020$ (1) Based on actual shipments for week ending January 4, 2014. (2) Estimate based on actual December 2013 run-rate. For the 13-Week and 13-Week Periods Ended For the 52-Week and 52-Week Periods Ended

Slide 25 www.BlueLinxco.com