Boise Cascade : Investor Presentation November 2022

November 2022

Disclaimer

Forward-Looking Statements

During the course of this presentation, we may make forward-looking statements or provide forward-looking information. All statements that address expectations or projections about the future are forward-looking statements. Some of these statements include words such as "expects," "anticipates," "believes," "estimates," "plans," "intends," "projects," and "indicates." Although they reflect our current expectations, these statements are not guarantees of future performance, but involve a number of risks, uncertainties, and assumptions which are difficult to predict. Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward-looking statements include, but are not necessarily limited to, prices for building products, changes in the competitive position of our products, commodity input costs, the effect of general economic conditions, our ability to efficiently and effectively integrate the Coastal Plywood acquisition, the effect of COVID-19 and related variants, mortgage rates and availability, housing demand, housing vacancy rates, governmental regulations, unforeseen production disruptions, as well as natural disasters. The Company does not undertake any obligation to update any forward-looking statements as a result of future developments or new information.

Non-GAAP Financial Measures

Included in this presentation are certain non-GAAP financial measures, including Free Cash Flow, EBITDA and Adjusted EBITDA, designed to complement the financial information presented in accordance with generally accepted accounting principles in the United States of America because management believes such measures are useful to investors. Our non- GAAP financial measures are not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the metrics of calculation. For a reconciliation of Free Cash Flow, net income to EBITDA and Adjusted EBITDA and segment income (loss) to segment EBITDA, see the Appendix to this presentation.

2

Who We Are

Wood

Products

21%

79%

Building

Materials

Distribution

Wood

Products

49%

51%

Building

Materials

Distribution

1 Segment percentages are calculated before intersegment eliminations.

2 Segment percentages exclude unallocated corporate costs.

3

What Sets Us Apart

Integrated Model

Focused and disciplined growth

Operational excellence

Relationship driven

Agility and flexibility

4

Individual, Yet Aligned, Operating Segments

Wood Products

• Leading manufacturer of engineered wood products ("EWP") and plywood
• LTM Sales of ~$2.1Bn1 and EBITDA of $661mm (30.9% margin)

Building Materials Distribution (BMD)

• Leading national wholesale distributor
• LTM Sales of ~$7.8Bn and EBITDA of $699mm (8.9% margin)

Our products are primarily used in new home construction, repair-and-remodel (R&R), light commercial construction, and certain industrial applications.

1 Segment sales are presented before intersegment eliminations.

Total Net Sales ($MM)

$7,926 $8,541

$4,995 $4,643 $5,475

2018	2019	2020	2021	Q3 2022
				LTM

Adjusted EBITDA ($MM & % Margin)

				15.4%
			13.3%
		7.7%
3.9%	4.6%
$193	$215	$423	$1,052	$1,317
2018	2019	2020	2021	Q3 2022
				LTM