BlueLinx Investor Presentation

March 2006

2

Safe Harbor Statement

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 BlueLinx 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 its control, that may cause its 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; 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; general economic and business conditions in the United States; 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 the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2005, and in its periodic reports filed with the SEC. In addition, the statements in this presentation are made as of March 28, 2006. The Company expects that subsequent events or developments will cause its views to change. The Company undertakes 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 the Company's views as of any date subsequent to March 28, 2006.

Use of Non-GAAP and Pro Forma* Financial Information - To supplement GAAP financial statements, the Company uses non-GAAP, or pro forma measures of operating results. This non-GAAP, or pro forma financial information is provided as additional information for investors and is not in accordance with or an alternative to GAAP. 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 the operating performance of the Company as opposed to GAAP results, which may include non-recurring, infrequent or other non-cash charges that are not material to the ongoing performance of the Company's business. Company management uses these non-GAAP and pro forma results as a basis for planning and forecasting core business activity in future periods. The presentation of this additional information is not meant to be considered in isolation or as a substitute for 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.

3

BlueLinx Investor PresentationMarch 2006

BlueLinx Overview

Industry Dynamics

Focused Growth Strategy

2005 Q4 Update

Looking Forward

4

BlueLinx Overview:Operations

Sales Center

Warehouse

LSV

Largest Building Products Distributor in U.S.

2005 Revenue: $5.6 Billion

~12,000 customers and 750+ suppliers

Product portfolio 10,000+ SKUs

65+ warehouses; 80+ reloads

Owned fleet of 900 trucks and 1,200 trailers

3,600 employees, including 1,000 sales

NYSE: BXC

Analysts Covering: 7

Market Cap: $492

Shares Outstanding: 30.2

Dividend/Yield: $.50/3.1%

P/E (ttm) 11.2

*Based on 3/17/06 close of $16.29

5

BlueLinx At A Glance:Evolution of BlueLinx Growth Strategy

Decentralized structure

13 warehouses

Outlet for GP Plywood

Outlet for GP Outlet for GP PlywoodPlywood

DiversifiedDiversifiedbuildingbuildingproductsproducts

distributordistributor

Centralized, Centralized, nationwide nationwide distribution distribution transitiontransition

““MastersMasters””of the of the

supply chainsupply chain

Decentralized structure

134 warehouses

1954 1954 –– 19761976 1977 1977 –– 19931993 1994 1994 –– 20002000 2004 2004 –– FutureFuture

Centralized platform supports market share growth

Organic growth focus supplemented by acquisitions

Value proposition: reduce supply chain costs

System rationalized & centralized

63 warehouses

Integrated IT systems

>$400mm one-time investment by GP in systems and infrastructure

BlueLinxBlueLinxGeorgia-Pacific through May 7, 2004

ImproveImproveGrossGrossMarginMargin

2001 2001 –– 20032003

Rationalized customer base

Increased gross margin by 225 basis points

6

BlueLinx Overview:Positioned at the Center of Value Creation

Building Building ProductsProducts

ManufacturersManufacturersBlueLinxBlueLinx

Home Home Improvement Improvement

CentersCenters

DealersDealers

Repair and Repair and RemodelingRemodeling

Residential Residential and Nonand Non--

Residential Residential ConstructionConstruction

Manufactured Manufactured Housing / Housing / IndustrialIndustrial

Benefits to ManufacturersReliable channels to marketConsistent production runsLimits inventory investmentAllows limited number of customersLimits credit risk and receivable investmentAbility to create markets for early life cycle products

Benefits to Customersto CustomersReliable source of many materialsBreak bulk quantitiesNear 100% fill ratesLimits vendors and inventory investmentJust in time deliveriesSafety stock

7

BlueLinx Overview: Diversified Product, Customer & End Use Segments

StructuralStructural63%63%

Hardwood plywoodEngineered lumberComposite deckingVinyl sidingMouldingInsulationRoofing

SpecialtySpecialty38%38%

PlywoodOSBLumberRebar/Remesh

New Home New Home ConstructionConstruction

50%50%

Industrial Industrial ApplicationsApplications

22%22%

Manufactured Manufactured HousingHousing

8%8%Repair & Repair & RemodelingRemodeling

15%15%

Non Residential Non Residential ConstructionConstruction

5%5%

Product Categories Customer Categories End Use Segments

DealerDealer

IndustrialIndustrial

Manufactured Manufactured HousingHousing

Home CenterHome Center

~ 10,000 Products ~ 12,000 Customers 5 End Use Segments

8

BlueLinx Overview:Diversified Product, Vendor Relationships

Diverse & Growing Supply Base

9

BlueLinx Overview:How We Think About Our Business

$42

$74$67

$179

$134

$151$162

$93

-

20

40

60

80

100

120

140

160

180

200

2000 2001 2002 2003PF 2004PF 2005

EBIT

DA

($ m

illio

n)

EBITDA Adj EBITDA*

*2004 and 2005 commodity margins restated at the two-year average (see reconciliation in Appendix)

EBITDA TREND

Consistent EBITDA growth when normalized to eliminate the impact of commodity margin volatility.

10

BlueLinx Overview:Goals and Strategic Objectives

Profitably grow specialty revenues to 60+ % of total sales

Profitably grow structural revenues while reducing exposure to volatility

Outgrow the market over the long term

Be the Masters of the Supply Chain for those products we choose to distribute

11

BlueLinx Overview:Experienced Leadership Team

Management Team Leadership Background

Stephen Macadam CEO

George Judd COO

David Morris CFO

Steve Skinner SVP

Duane Goodwin SVP

Dave Dalton SVP

Sam Gaddis VP

6 Regional VPs RVP

CEO Consolidated Container; EVP Georgia-Pacific; McKinsey & Co.

VP Eastern operations, Georgia-Pacific; inside and outside sales manager, national accounts manager

VP Finance, Georgia-Pacific distribution division; Kimberly-Clark

CEO Peppers & Rogers Group, McKinsey & Co.

Home Depot, Wal-Mart, procurement and sourcing

Regional VP BlueLinx; division sales, management, Georgia-Pacific

Georgia-Pacific / BlueLinx, regional account manager, director national accounts

Average 20+ years of industry experience

Strategy

Operations

Finance

Business Development

Supply Chain

Western Region

National Accounts

Regional Operations/Sales

12

BlueLinx Investor PresentationMarch 2006

BlueLinx Overview

Industry Dynamics

Focused Growth Strategy

2005 Q4 Update

Looking Forward

13

2.8% 2.4%

-2.1%

1991-2000Avg

2001-2005Avg

2006E-2015E Avg

Growing & Attractive Industry: Solid Long-Term Industry Fundamentals

1.4

1.81.8

1991-2000Avg

2001-2005Avg

2006E-2015E Avg

Annual Housing Starts (mm)

Annual Growth In Other End-Use Markets

50% of Our End-Market 50% of Our End-Market

IndustrialRepair & RemodelingMobile homesNon-residential

Source: Research Information Systems Inc. (RISI)

14

Growing & Attractive Industry:Market Growth of Two-Step Distribution

$32.9

$36.4

$39.2

$47.1

20

25

30

35

40

45

50

2001 2002 2003 2004

$ b

illio

ns

Total Market Revenue

Source: Home Channel News, July 2005

15

Many Small and Medium Sized Players

136

100's

35

<$250m $250m -$500m

$500m -$1bn

$1bn-$2.5bn

>$2.5bn

Number of Competitors By Revenue

Growing & Attractive Industry:Largest in a Highly Fragmented Industry, Ripe for Consolidation

Highly Fragmented Industry

Weyerhaeuser11.1%

Boise Cascade6.0%

Universal FP4.2%

Consists of several hundred small, local distributors

BlueLinx11.8%

OtherOther64.9%64.9%

2004 Market Share

Source: Home Channel News, July 2005

Huttig BP2.0%

16

BlueLinx Investor PresentationMarch 2006

BlueLinx Overview

Industry Dynamics

Focused Growth Strategy

2005 Q4 Update

Looking Forward

17

Focused Growth Strategy:BXC’s Growth Enabling Strategic Shift Continues

Commodities-focused, distribution arm of manufacturer

Customer-focused, solutions-driven, value-added distribution partner

55%+ structural products

FROM:FROM: TO:TO:

60%+ specialty products

Structural products-driven earnings volatility

Specialty products-driven stable earnings growth

Developing integrated management systems

Leveraging management systems to create value

Volume orientation Profit orientation

Managing through complex internal transformations

Managing to create maximum value in the supply chain

18

Focused Growth Strategy:BXC Strategic Framework

Mission:

“Be the Masters of the Supply Chain for those products we choose to distribute.”

Value Proposition:• Provide the lowest total cost

of sales and distribution through the supply chain

• Drive end-user demand, thereby increasing sales for our customers and our suppliers

Objectives: Gross Margin: 10+%Specialty Mix: 60+%Unit Sales: Outgrow the market

Improvement Efforts

Strategic Enablers

Growth Initiatives

Strategy Initiatives and Enablers:• Gross Margin Improvement• Cost Improvement• Productivity Improvement• Asset Management

• Product & Vendor Mgmt.• Marketing Excellence• Sales Processes & Support• Information Technology• Results Tracking & Accountability• Talent Development & Acquisition

• Accelerate Specialty growth• Target high-growth accounts• Increase volume in high-return

segments• Pursue supplemental acquisitions

19

Focused Growth Strategy:2005 Specialty Product Initiatives

PeopleAdded seasoned experts in supply chain strategy, product procurement, and import -- Increased number of national product managers to 9 from 4Focused support on key product areas that represent best opportunity for growth and profitability

ProcessImproved operational agility for reacting to changing market conditions Solidified import process and capabilitiesLinking systems to drive increased service levels to customers, while improving productivity of assets

Products Signed national composite decking distribution agreement with Louisiana-PacificPursuing additional agreements with L-P and other vendors

Repositioned inventories to reflect business opportunities & limit exposure

AcquisitionsPurchased California-based Lane Stanton Vance, specialty hardwood distributor

20

Focused Growth Strategy:Accelerating Specialty Growth

Specialty Products

37% 36%39%

41%

53%

61%

54% 55%

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

% of TotalRevenue% of GM

2005 Unit Volume Growth

4.2%6.4%

0.9% 0.2%1.7% 0.5%

5.8%

12.7%

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Structural Specialty

2005 Gross Margin

7.0%5.3%

7.3%8.3%

12.6% 12.9% 13.3%14.3%

1st Qtr 2nd Qtr 3rd Qtr 4th Qtr

Structural Specialty

21

Focused Growth Strategy: Specialty Product Expansion

Chosen in September by Louisiana-Pacific to nationally distribute its WeatherBest composite decking product

All 1,000 BlueLinx sales employees trained and warehouses stocked within 45 days

Program has potential to generate annualized revenues in excess of $100 million over the first two years

Big step in expanding into additional specialty programs with L-P and other major vendors over next several years

22

Focused Growth Strategy:2005 Structural Product Initiatives

Focus on improved profitability and reduced risk Reduced “high risk” structural inventory by $41 million, or 18% from 2004Cost-to-serve analysis linked to pricing optimization systemIncreased utilization of consignment and program inventories Expanding imports from Europe and other areas offering lowest-cost sourcingDriving OSB business through direct channelFocusing on structural products that “behave” like specialty

Long-length lumberSpecialty plywoodMSR lumber

23

Focused Growth Strategy:Initiatives to Leverage Our Scaleable Platform to Drive Superior Returns

Market Share Growth Goals Growth Drivers & Accelerators

Increase penetration of selected high return customers (e.g. large, multi-unit chains, growing local businesses)

Grow share in under-represented segments (e.g. industrials -- products used in manufacturing; cabinets & fixtures, commercial furniture, millwork)

Expand product portfolio and vendor base (e.g. working with current & new vendors, adding offshore procurement capabilities)

Consultative, solution-based selling

Disciplined quarterly sales plans supporting promotions and new product introductions

Account planning to create partnerships

Align top salespeople with high potential accounts

Increase product line

Execute supplemental acquisitions

24

Focused Growth Strategy:Industrials Strategy Update

Objective & RationaleGrow market share in Industrials Industrials represent ~22% of sales; currently have ~3% market share

Offers high contribution margin and increases specialty product opportunities

Strategy Identify & pursue “high-opportunity” geographic areas with strong manufacturing baseCreate tailored value proposition for key customer segmentsWork with suppliers to form strategic relationships & develop new products

HighlightsSix regional market plans currently being executedHired China-based procurement specialist Adding cut-to-size capabilities at select facilitiesWorking with manufacturer on new flooring product for R-V industrySecured exclusive distribution agreement based on regional market plan

25

Focused Growth Strategy:Outgrow the Market Over the Long Term

Market Share Growth*

10.4%

11.8%

10.9%

2002 2003 2004

Unit Volume Growth vs. End-Use Market Year over Year Change

2.0%

4.7% 4.4%

2.5%

8.2%

3.9%

2003 2004 2005

Weighted End-Use Market GrowthBlueLinx Growth

*Source: Home Channel News, July 2005

26

BlueLinx Investor PresentationMarch 2006

BlueLinx Overview

Industry Dynamics

Focused Growth Strategy

2005 Q4 Update

Looking Forward

27

2005 Q4 Update (Vs. Year Ago):Executing on Our Plan

Revenue: Up 10% to $1.33 billionSpecialty up 13.8% - Structural up 8%

Unit Volume: Total Up 5%Specialty Up 12.7% - Structural Up 0.2%

Gross margin: Total 10.6% vs. 8.4% Specialty 14.3% - Structural 8.3%

Inventory: Total $473.1 million, down 5.4% Specialty reduced 1.3% - Structural reduced 18.2%

Net income: $14.5 million/$0.48/shr vs. loss

Working capital turn days: 37 vs. year-ago 45

Total debt: down $111 million vs. year ago

28

BlueLinx Investor PresentationMarch 2006

BlueLinx Overview

Industry Dynamics

Focused Growth Strategy

2005 Q4 Update

Looking Forward

29

Looking Forward:2006 Go-Forward Initiatives

Expand relationships with existing and new specialty product vendors who recognize the BlueLinx value proposition

Continue and improve disciplined inventory management to help mitigate price volatility impact on structural products

Target growing accounts that serve attractive high-growth markets

Increase volume in under represented segments, e.g., industrials

Invest in the people and processes necessary to support specialty business growth

Be a patient, disciplined acquirer

30

AppendixTOPIC PAGEFundamentals 31Revenues by Quarter 32Unit Volume Growth by Quarter 33Market Growth by Quarter 34Gross Margin by Quarter 35Inventory by Quarter 36Quarterly Volume by Region 37Annual Volume by Region 38Gross Margin % Analysis 39Channel Mix Analysis 40

Balanced Liquidity Illustration 43EBITDA Reconciliation 44-45

Structural Product Price Trends 41Capital Structure Position 42

31

BlueLinx Holdings Inc.Fundamentals*

TRADING

NYSE: BXC

7 Analysts Providing Research

Market Capitalization $492 million

Shares Outstanding 30.2 million (basic)

Avg. Daily Trading Vol. 208,000 (3 m)

Float (%) 34

52-Week Range $16.95 (3/14/06) -- $8.25 (8/10/05)

VALUATION

Dividend/yield $0.50/3.1%

Debt to Total Capital 75% (12/31/05)

Cash per share $0.80 (12/31/05)

Book value per share $6.08 (12/31/05)

P/E Ratio (ttm) 11.2

Return on Equity (ttm) 27%

* As of 3/17/06 closing price of $16.29, except where noted

32

BlueLinx Holdings Inc.Revenues by Quarter

Sales $ in millions

2003 (1) 2004 (1) 2005Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Specialty (2) $ 449.4 $ 513.5 $ 523.0 $ 473.9 $ 501.1 $ 542.6 $ 559.9 $ 539.5 $ 1,688.8 $ 1,959.8 $ 2,143.1

Structural 830.2 1,056.2 1,015.2 754.9 861.2 960.7 910.6 815.2 2,636.0 3,656.5 3,547.7

Other (3) 0.3 (8.6) (28.6) (21.2) (10.7) (16.3) (16.3) (25.4) (53.0) (58.1) (68.7)

Total $ 1,279.9 $ 1,561.1 $ 1,509.6 $ 1,207.6 $ 1,351.6 $ 1,487.0 $ 1,454.2 $ 1,329.3 $ 4,271.8 $ 5,558.2 $ 5,622.1

StructuralPlywood $ 268.7 $ 317.6 $ 285.7 $ 211.2 $ 244.8 $ 255.2 $ 243.6 $ 217.2 $ 861.5 $ 1,083.2 $ 960.8

OSB 186.7 236.9 187.0 132.6 184.9 213.1 196.8 205.7 609.2 743.2 800.5

Lumber 283.9 373.9 422.3 319.3 337.7 381.1 369.3 309.2 930.9 1,399.4 1,397.3

Sub Total 739.3 928.4 895.0 663.1 767.4 849.4 809.7 732.1 2,401.6 3,225.8 3,158.6

Rebar/Remesh 90.9 127.8 120.3 91.7 93.9 111.2 101.0 83.1 234.5 430.7 389.2

Total $ 830.2 $ 1,056.2 $ 1,015.3 $ 754.8 $ 861.3 $ 960.6 $ 910.7 $ 815.2 $ 2,636.1 $ 3,656.5 $ 3,547.8

Structural Unit Sales

StructuralPlywood 726,709 781,101 817,392 659,765 725,511 757,948 693,328 602,037 2,914,926 2,984,967 2,778,824

OSB 527,965 604,436 589,077 534,949 575,032 734,042 744,340 678,754 2,397,699 2,256,427 2,732,168

Lumber 670,326 756,928 812,762 715,773 720,134 828,620 835,550 702,796 2,543,536 2,955,789 3,087,100

Structural $/Unit

StructuralPlywood $/MSF 3/8" $ 370 $ 407 $ 350 $ 320 $ 337 $ 337 $ 351 $ 361 $ 296 $ 363 $ 346

OSB $/MSF 3/8" $ 354 $ 392 $ 317 $ 248 $ 322 $ 290 $ 264 $ 303 $ 254 $ 329 $ 293

Lumber $/MBF $ 424 $ 494 $ 520 $ 446 $ 469 $ 460 $ 442 $ 440 $ 366 $ 473 $ 453

(1) Pro Forma(2) Includes LSV as of the acquisition date, July 2005.(3) Includes competitive discounts, cash discounts, service revenue, Canadian conversion, and sales accruals.

2004 (1) 2005

33

BlueLinx Holdings Inc.Unit Volume Growth By Quarter

2003 2004 2005Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Specialty (1) 11.7% 13.4% 3.0% 2.9% 1.7% 0.5% 5.8% 12.7% 4.4% 7.6% 5.1%

StructuralPlywood 0.2% 0.7% 4.4% 9.7% (1.0%) (3.3%) (14.6%) (8.7%) (7.1%) 4.1% (6.7%)

OSB (10.2%) (10.0%) (4.4%) 7.0% 12.4% 21.5% 24.5% 23.7% (6.9%) (3.0%) 20.4%

Lumber 13.1% 14.4% 18.4% 23.8% 7.2% 9.4% 2.6% (1.8%) 11.0% 17.6% 4.3%

Rebar/Remesh 21.2% 27.9% 9.0% 19.4% (7.1%) (4.2%) (5.0%) (6.1%) 5.2% 19.1% (5.4%)

Total 5.4% 6.3% 7.5% 14.3% 4.2% 6.4% 0.9% 0.2% 1.0% 8.6% 3.2%

Total 8.4% 9.0% 5.9% 9.4% 3.3% 4.6% 2.6% 5.0% 2.5% 8.2% 3.9%

(1) Includes LSV as of the acquisition date, July 2005.

2004 2005

Unit Volume Growth

34

BlueLinx Holdings Inc.Market Growth By Quarter

2003 2004 2005Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

End Use Driver

Actual Housing Starts 13.3% 9.9% 4.1% (2.5%) 5.5% 6.7% 6.7% 3.0% 8.4% 5.8% 5.6%

Industrial Production 2.7% 4.8% 4.6% 4.2% 3.9% 3.4% 2.9% 2.7% 0.6% 4.1% 3.2%

Repair & Remodel 8.4% 0.7% 2.3% 10.4% 1.8% (4.0%) (0.4%) 1.5% (2.4%) 5.0% (0.4%)

Actual Mobile Homes (4.9%) (2.3%) (1.7%) 9.5% 6.9% 0.0% (0.3%) 51.5% (22.5%) 0.0% 14.6%

Non Residential Const 0.3% 1.3% 3.1% (5.8%) (10.7%) (6.7%) (0.3%) 5.2% (3.5%) (0.1%) (3.3%)

Total 8.1% 6.0% 3.4% 1.7% 3.9% 3.2% 3.9% 6.7% 2.0% 4.5% 4.4%

Market Growth

2004 2005

Source: Data from Resource Information Systems, Inc., or RISI, updated as of January 2006, weighed using managements estimates.

35

BlueLinx Holdings Inc.Gross Margin by Quarter

Gross Margin $ in millions

2003 (1) 2004 (1) 2005Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Specialty (2) (3) $ 63.1 $ 77.9 $ 74.3 $ 64.3 $ 63.2 $ 70.1 $ 74.2 $ 76.9 $ 223.2 $ 279.6 $ 284.4

Structural (3) 96.4 95.8 81.7 36.1 60.6 50.7 66.6 67.8 247.6 310.0 245.7

Other (4) (3.5) (9.6) (13.7) 1.0 (4.5) (5.1) (3.8) (4.3) (17.6) (25.8) (17.7)

Total $ 156.0 $ 164.1 $ 142.3 $ 101.4 $ 119.3 $ 115.7 $ 137.0 $ 140.4 $ 453.2 $ 563.8 $ 512.4

Gross Margin %'s

Specialty (2) (3) 14.0% 15.2% 14.2% 13.6% 12.6% 12.9% 13.3% 14.3% 13.2% 14.3% 13.3%

Structural (3) 11.6% 9.1% 8.0% 4.8% 7.0% 5.3% 7.3% 8.3% 9.4% 8.5% 6.9%

Other (4) n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

Total 12.2% 10.5% 9.4% 8.4% 8.8% 7.8% 9.4% 10.6% 10.6% 10.1% 9.1%

(1) Pro Forma(2) Includes LSV as of the acquisition date, July 2005.(3) Includes product rebates.(4) Includes competitive discounts, cash discounts, Canadian conversion, and accruals.

2004 (1) 2005

36

BlueLinx Holdings Inc.Inventory by Quarter

Inventory $ in millions

2003 2004 2005Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

Specialty (1) $ 215.9 $ 237.0 $ 262.1 $ 248.8 $ 254.7 $ 238.4 $ 228.2 $ 245.5 $ 181.3 $ 248.8 $ 245.5

Structural 225.8 216.8 215.0 225.7 234.1 217.7 168.1 184.6 150.4 225.7 184.6

Other (2) (15.9) 32.0 25.6 25.7 29.1 30.0 22.6 43.0 (25.5) 25.7 43.0

Total $ 425.8 $ 485.8 $ 502.7 $ 500.2 $ 517.9 $ 486.1 $ 418.9 $ 473.1 $ 306.2 $ 500.2 $ 473.1

StructuralPlywood $ 89.1 $ 69.8 $ 55.1 $ 59.9 $ 65.7 $ 55.6 $ 48.1 $ 54.1 $ 48.1 $ 59.9 $ 54.1

OSB 40.6 28.1 24.1 22.2 28.0 24.5 13.1 19.8 21.8 22.2 19.8

Lumber 76.3 90.7 94.9 98.9 102.5 100.2 82.4 88.1 62.5 98.9 88.1

Sub Total 206.0 188.6 174.1 181.0 196.2 180.3 143.6 162.0 132.4 181.0 162.0

Rebar/Remesh 19.8 28.2 40.9 44.7 37.9 37.4 24.5 22.6 18.0 44.7 22.6

Total $ 225.8 $ 216.8 $ 215.0 $ 225.7 $ 234.1 $ 217.7 $ 168.1 $ 184.6 $ 150.4 $ 225.7 $ 184.6

On-hand turn days (average)

All Products 42 38 40 47 49 42 40 42 43 41 43

(1) Includes LSV as of the acquisition date, July 2005.(2) Includes in-transit accruals, discounts, allowances, reserves, and other miscellaneous items.

2004 2005

37

BlueLinx Holdings Inc.Quarterly Volume by Region

*Miscellaneous consists of cash and competitive discounts, Canadian conversion,carve-out adjustments, service revenue and other miscellaneous items.

$ millions(unaudited)

Q4 2004Sales

Q4 2005Sales

Total $ Variance

$ Unit Variance

%UnitVariance

Central $188.9 $208.1 $19.2 $8.8 4.7%

Western 173.4 189.3 15.9 6.4 3.7%

Mid Atlantic 222.6 231.2 8.6 (3.2) (1.4%)

Northeast 142.8 139.9 (2.9) (7.7) (5.4%)

Southeast 326.6 373.2 46.6 28.0 8.6%

Mid West 122.0 132.8 10.8 5.5 4.5%

Other 52.5 80.2 27.7 24.1 45.9%

Total Invoiced Sales BlueLinx 1,228.8 1,354.7 125.9 61.9 5.0%

Miscellaneous* (21.2) (25.4) (4.2)

Total Net Sales $1,207.6 $1,329.3 $121.7

38

BlueLinx Holdings Inc.Annual Volume by Region

*Miscellaneous consists of cash and competitive discounts, Canadian conversion,carve-out adjustments, service revenue and other miscellaneous items.

$ millions(unaudited) 2004

Sales2005Sales

Total $ Variance

$ Unit Variance

%UnitVariance

Central $898.3 $913.0 $14.7 $46.5 5.2%

Western 844.5 794.2 (50.3) (8.1) (1.0%)

Mid Atlantic 956.2 988.0 31.8 43.6 4.6%

Northeast 649.9 607.2 (42.7) (32.5) (5.0%)

Southeast 1,447.7 1,548.8 101.1 127.0 8.8%

Mid West 581.9 563.4 (18.5) 1.0 0.2%

Other 237.8 276.2 38.4 38.5 16.2%

Total Invoiced Sales BlueLinx 5,616.3 5,690.8 74.5 216.0 3.9%

Miscellaneous* (58.1) (68.7) (10.6)

Total Net Sales $5,558.2 $5,622.1 $63.9

39

BlueLinx Holdings Inc.Gross Margin % Analysis

Trend (4) 1Q05 2Q05 3Q05 4Q05

4Q05Variance from

TrendF/(U)

Structural Products (2)

Warehouse 10.6% 11.3% 7.4% 11.0% 12.0% 1.4%Direct 4.3% 2.9% 3.8% 3.7% 5.1% 0.8%Reload 6.7% 3.7% 2.1% 4.2% 5.9% (0.8%)

Total 8.1% 7.0% 5.3% 7.3% 8.3% 0.2%

Specialty Products (1) (2)

Warehouse 16.3% 16.3% 15.7% 16.1% 17.8% 1.5%Direct 7.5% 6.8% 7.9% 8.1% 8.2% 0.7%Reload 8.7% 8.6% 10.6% 10.1% 10.8% 2.1%

Total 13.3% 12.6% 12.9% 13.2% 14.3% 1.0%

Total (1) (2) (3) (4) 10.1% 8.8% 7.8% 9.4% 10.6% 0.5%

(1) Includes LSV as of the acquisition date, July, 2005.(2) Includes product rebates.(3) Includes competitive discounts, cash discounts, Canadian conversion, and accruals.(4) The 11 quarters from 2001 through Q3 2003 was selected as a representative trend period which reflects a variety of market conditions and pricing cycles.

40

BlueLinx Holdings Inc.Revenue Channel Mix Analysis

Trend (2) 1Q05 2Q05 3Q05 4Q05

4Q05Variance from

TrendF/(U)

Structural ProductsWarehouse 57.2% 48.4% 47.3% 48.7% 45.1% (12.1%)Direct 33.6% 38.8% 38.4% 36.3% 40.7% 7.1%Reload 9.2% 12.8% 14.3% 15.0% 14.2% 5.0%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 0.0%

Specialty Products (1)

Warehouse 64.8% 59.3% 60.8% 61.5% 60.4% (4.4%)Direct 29.2% 30.1% 28.5% 28.3% 29.2% 0.0%Reload 6.0% 10.6% 10.7% 10.2% 10.4% 4.4%

Total 100.0% 100.0% 100.0% 100.0% 100.0% 0.0%

(1) Includes LSV as of the acquisition date, July, 2005.(2) The 11 quarters from 2001 through Q3 2003 was selected as a representative trend period which reflects a variety of market conditions and pricing cycles.

41

BlueLinx Holdings Inc.Structural Products Price Trends

Oriented Strand Board Price Trend 2003 - 3/17/2006Oriented Strand Board 7/16" North Central Zone

$100

$150

$200

$250

$300

$350

$400

$450

$500

$550

2003

Q1

2003

Q2

2003

Q3

2003

Q4

2004

Q1

2004

Q2

2004

Q3

2004

Q4

2005

Q1

2005

Q2

2005

Q3

2005

Q4

2006

Q1

($/m

sf -

3/8"

)

Plywood Price Trend 2003-3/17/2006 Southern Sheathing 15/32" 4 Ply. West Zone

$100

$150

$200

$250

$300

$350

$400

$450

$500

$550

2003

Q1

2003

Q2

2003

Q3

2003

Q4

2004

Q1

2004

Q2

2004

Q3

2004

Q4

2005

Q1

2005

Q2

2005

Q3

2005

Q4

2006

Q1

($/m

sf -

3/8"

)

Source: Data from Random Lengths Publications, Inc., updated as of March 17, 2006.

Lumber Price Trend 2003 - 3/17/2006Western SPF 2x4 #2 & Btr

$150

$200

$250

$300

$350

$400

$450

$500

$550

$600

2003

Q1

2003

Q2

2003

Q3

2003

Q4

2004

Q1

2004

Q2

2004

Q3

2004

Q4

2005

Q1

2005

Q2

2005

Q3

2005

Q4

2006

Q1

($/m

bf)

42

BlueLinx Holdings Inc.Capital Structure Position

BXC Leverage -- Current State

• All low-cost asset-based borrowing

• Creates low WACC

• Liquidity balanced to working capital needs

$220 mln• Revolver excess availability as of 12/31/05

6.3%• Average interest rate YTD 12/31/05

0.8%• Interest expense - % of sales YTD 12/31/05

75% • Debt as % of total capital as of 12/31/05

Key Metrics

• Pay down debt

• Invest in growth – where ROCE > WACC

• Maintain consistent dividend

BXC Priorities For Free Cash Flow• Reduced debt-to-total capital ratio by 754 bp

Q4’04 -- Q4’05

• Negotiated amendment on revolver that reduced interest rate spreads over LIBOR by 50bp

• Pursuing mortgage refinancing at favorable long-term rates

Working On…

Debt to Total Capital Ratio of 75% is manageableLow borrowing cost / Asset-based / Liquidity balanced

43

(all $ in millions)

Annual Incremental Revenue (500) 500 Annual Incremental COGS (453) 453

Turn Days (1) Turn Days (1)

Receivables (44) 32 44 32 Inventory (42) 34 42 34 Payables/Other 30 (24) (30) (24)

Required Funds (56) 42 56 42

Net NetIncremental Availability from… Advance Rate Advance RateInventory (30) 70% 30 70%Receivables (35) 80% 35 80%

Incremental Availability (65) 65

Net Availability Impact (8) 8

(1) 2005Q3 TTM turn days

ShrinkSensitivity

GrowthSensitivity

BlueLinx Holdings Inc.Balanced Liquidity Illustration

44

BlueLinx Holdings Inc.EBITDA Reconciliation

(all $ in millions) 2004 FYPro Forma (1)

2005 Q1-Q4Actual (2)

2004 Q1-2005 Q4Total

(A) (B) (C)=(A+B)

Sales $ 5,558 $ 5,622 $ 11,180

Cost of Sales 4,994 5,110 10,104

Gross Margin 564 512 1,076

Gross Margin % 10.1% 9.1% 9.6%

Operating Expenses

Selling, General & Administrative 385 378 763

Depreciation & Amortization 15 18 33

Total 400 396 796

Operating Income 164 116 280

Other Income/(Expense) - - -

EBIT 164 116 280

Plus:

Depreciation & Amortization 15 18 33

Pro Forma EBITDA $ 179 $ 134 $ 313

(1) Pro Forma as issued on p. 20 of 2004 Q4 earnings release Financial Review slides

(2) Actual Year Ending 2005 as issued on February 15, 2006

45

BlueLinx Holdings Inc. EBITDA Reconciliation

(all $ in millions) 2004 FYPro Forma

2005 Q1-Q4Actual

Pro Forma EBITDA $ 179 3.2% $ 134 2.4%

Pro Forma Gross Margin 564 10.1% 512 9.1%

Gross margin adjustment (1) (28) (0.5%) 28 0.5%

Adjusted Pro Forma Gross Margin 536 9.6% 540 9.6%

Adjusted Pro Forma EBITDA (1) $ 151 2.7% $ 162 2.9%

(1) Commodity gross margins restated at the two year average to eliminate the impact of commodity margin volatility