Exhibit 99.2

Q2 2023 Earnings Call December 8, 2022

2 Safe Harbor and B asis of Presentation Forward - Looking Statement Safe Harbor — This presentation includes “forward - looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can generally identify forward - looking statements by the Company’s use of forward - looking terminology such as “anticipate,” “bel ieve,” “confident,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “seek,” or “should,” or the negative thereof or other variations th ere on or comparable terminology. In particular, statements about the markets in which GMS operates and our products, including potential growth in those markets and products, the economy general ly, actions taken to optimize our operations and align our business consistent with demand, our ability to continue successfully navigating the evolving operating environment and e xec uting our business, strategic initiatives and priorities and growth potential, future M&A and greenfields , product availability, inflation, capital structure, pricing, net sales, organic sales, gross margins, incremental EBITDA, A dju sted EBITDA, Adjusted EBITDA margin, interest expense, tax rates, capital expenditures, free cash flow, cash flow generation and working c api tal management, future financial performance and liquidity, the ability of the Company to grow stronger, and the ability to deliver growth, value creation and long - term success contained in this presentation may be considered forward - looking statements. Statements about our expectations, beliefs, plans, strategies, objectives, prospects, assumptions or futu re events or performance may be considered forward - looking statements. The Company has based forward - looking statements on its current expectations, assumptions, estimates and projections . While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward - looking statements are only predictions and involve known an d unknown risks and uncertainties, many of which are beyond its control, including current public health issues that may affect the Company’s business. Forward - looking statements in volve risks and uncertainties, including, but not limited to, those described in the “Risk Factors” section in the Company’s most recent Annual Report on Form 10 - K, and in its other periodic reports filed with the SEC. In addition, the statements in this release are made as of December 8, 2022. The Company undertakes no obligation to update any of the forward - looking statemen ts 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 r epresenting the Company’s views as of any date subsequent to December 8, 2022. 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 fu ture. 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 excl udi ng 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 inf ormation is not meant to be considered in isolation or as a substitute for GAAP measures of net income, diluted earnings per share or net cash provided by (used in) operating activities pr epared in accordance with generally accepted accounting principles in the United States. Please see the Appendix to this presentation for a further discussion on these non - GAAP measure s and a reconciliation of these non - GAAP measures to the most directly comparable GAAP measures.

3 Q2 Fiscal 2023 Highlights Record Levels of Net Sales, Net Income and Adjusted EBITDA 1 ▪ Quarterly net sales of $1.4 billion, up 24.4% from Q2 FY22; Organic sales growth of 22.2% ‒ Sales growth driven by product inflation as well as year - over - year volume growth in Wallboard, Ceilings and Complementary Products ▪ Wallboard volumes up low double - digits year - over - year ‒ Positive year - over - year commercial Wallboard volume growth for the second consecutive quarter ▪ Gross profit up 24.9% SG&A and Adjusted SG&A 1 as a percentage of sales improved 50 basis points each Net Income Up 38.7%; Adjusted EBITDA 1 Up $46.0 million, or 30.7% Adjusted EBITDA Margin 1 Up 70 Basis Points Significantly improved cash flow generation as compared with a year ago 1 For a reconciliation of Adjusted SG&A, Adjusted Net Income, Adjusted EBITDA, and Adjusted EBITDA Margin to the most directly com parable GAAP metrics, see Appendix. $74.4 $87.8 $149.5 $103.2 $119.5 $195.5 Net Income Adj. Net Income Adj. EBITDA Net Income, Adj Net Income 1 & Adj EBITDA 1 ($ in millions) Q2 FY22 Q2 FY23 Net Sales Gross Profit Net Income $1.4B $464.5M $103.2M 24.4% 24.9% 38.7%

4 Strategic Growth Priorities – Q2 Fiscal 2023 Update Capitalize on existing fixed investments in locations and equipment where we are underpenetrated or below expected share Grow Complementary Product opportunities outside of core products to diversify and profitably expand our offerings Expand the platform through accretive acquisition and greenfield opportunities Leverage our scale and employ technology and best practices to deliver a best - in - class customer experience and further profit improvement • Year - over - year organic volume growth of 11.4% in Wallboard • Year - over - year organic volume growth of 2.9% in Ceilings • Organic sales growth for each core product category: • 41.4% Wallboard organic growth • 13.6% Ceilings organic growth • 2.5% Steel Framing organic growth • Benefits of scale and our commitment to service provide value to our customers and confidence for continued growth in our core products • 26.5% net sales growth in Complementary Products • 17.8% organic sales growth • Q2 2023 was the 10 th straight quarter of growth for this category • Complementary Products has grown over time to contribute nearly 30% of our net sales • Added one new greenfield yard in Greenville, NC during Q2 2023 • Including another greenfield yard added in November 2022, we’ve opened five greenfield yards during fiscal 2023 • We’ve also opened nine AMES stores during fiscal 2023 as of 12/8/22 • Strong pipeline of M&A and greenfield opportunities • Net debt leverage at Oct. 31, 2022 was 1.6 times, down from 2.4 a year ago • Enhancing our role as a valuable partner by providing customers with the ability to easily transact with us, including online ordering, delivery status updates and proof of delivery notification and photos • Driving purchasing and operational efficiencies and helping to offset operational cost increases • Building our “Yard of the Future” to improve efficiency, productivity and profitability while delivering greater value to our customers and stakeholders Expand Share in Core Products Grow Complementary Products Platform Expansion Drive Improved Productivity & Profitability

5 Q2 Fiscal 2023 Performance – Net Sales of $1.4 Billion $371.9 $464.5 $200 $250 $300 $350 $400 $450 Fiscal Q2 2022 Fiscal Q2 2023 Gross Profit Net Sales & Mix Gross Profit ▪ Gross Profit increased 24.9% ▪ Gross margin was 32.5% ‒ 20 basis point year - over - year increase with strong margins in Complementary Products and better - than - expected margins in Steel Framing on focused inventory management and project quoting as steel pricing declined during the quarter ▪ Net sales up 24.4% due to a favorable pricing environment along with active residential construction and an improving commercial landscape, both of which helped drive volume growth in Wallboard, Ceilings and Complementary Products ▪ We also benefited from the acquisition of AMES and one additional selling day as compared with a year ago ▪ Partially offsetting these increases was the negative impact of foreign currency translation on net sales during the three months ended October 31, 2022 ▪ Organic net sales up 22.2% 2 Organic Growth Per Day Total Volume Price/Mix 1 Wallboard +39.2% +9.2% +30.0% Ceilings +11.8% +1.2% +10.7% Steel +1.0% - 7.0% +7.9% Complementary +16.0% $1,150.6 $1,431.0 Fiscal Q2 2022 Fiscal Q2 2023 +24.4% 36.0% 12.2% 23.6% 28.2% 40.9% 11.2% 19.4% 28.6% WB Ceilings Steel Complementary Products ($ mm) ($ mm) +24.9% 1 Price/Mix excludes the negative impact of foreign currency translation 2 Organic net sales exclude the net sales of acquired businesses until the first anniversary of the acquisition date and the im pac t of foreign currency translation.

6 $149.5 $195.5 13.0% 13.7% Fiscal Q2 2022 Fiscal Q2 2023 Adj. EBITDA Adj. EBITDA Margin ($ mm) $223.2 $270.9 19.4% 18.9% 18.0% 18.5% 19.0% 19.5% 20.0% 20.5% 21.0% $0 $50 $100 $150 $200 $250 $300 Fiscal Q2 2022 Fiscal Q2 2023 Adj. SG&A Adj. SG&A % ($ mm) Q2 Fiscal 2023 – Improved Profitability 1 For a reconciliation of Adjusted SG&A, Adjusted Net Income, Adjusted EBITDA and Adjusted EBITDA Margin to the most directly c omp arable GAAP metrics, see Appendix. SG&A and Adjusted SG&A 1 ▪ Reported SG&A was 19.5% of sales compared to 20.0% of sales a year ago, representing a 50 - basis point improvement ▪ Adjusted SG&A 1 also improved 50 - basis points as product inflation outpaced increases in operating costs Net Income, Adjusted Net Income 1 & Adjusted EBITDA 1 ▪ Reported net income and Adjusted net income 1 totaled $103.2 million and $119.5 million, respectively ▪ Adjusted EBITDA 1 increased 30.7% and Adjusted EBITDA margin 1 improved 70 basis points year - over - year 1 1 1 50 bps improvement 1 70 bps improvement

7 Attractive Capital Structure Supports Strategic Priorities • Significant improvement in cash flow as the supply chain improved • Generated Cash from Operating Activities of $107.3 million, compared to a use of $2.0 million in Q2 FY22 • Generated Free Cash Flow 1 of $96.5 million, compared to a use of $11.3 million in Q2 FY22 • Substantial liquidity, with $124.2 million of cash on hand and an additional $293.8 million available under our revolving credit facilities as of 10/31/2022 • Fiscal year 2023 Free Cash Flow 1 is expected to exceed our “Through the Cycle” expectation of 40% - 50% of Adjusted EBITDA 1 Cash From Operations and Free Cash Flow 1 $89.9 2.4 x 2.3 x 1.8 1.8 1.6 10/31/21 1/31/2022 4/30/2022 7/31/2022 10/31/2022 $23 $43 $273 $509 $14 $360 2023 2024 2025 2026 2027 Thereafter LTM Net Debt / PF Adjusted EBITDA 2 Debt 3 Maturity Schedule as of 10/31/2022 $ in millions 1. For a reconciliation of free cash flow to cash used in operating activities, the most directly comparable GAAP metric, see Ap pen dix. 2. For detail, including a reconciliation of Pro Forma Adjusted EBITDA to net income, the most directly comparable GAAP metric, see Appendix. 3. Debt includes First Lien Term Loan, ABL Facility, Senior Notes, Finance Leases & Installment Notes. x x x Increased Share Repurchase Activity

8 GMS is Well Positioned across Commercial and Residential Markets with Scale and Balanced Product Mix • Continue to see high levels of multi - family residential activity • In the medium term - some backlog remains in certain markets within single - family residential, but a decline in demand in that segment is expected to materialize; Timing, extent, and duration of impending decline is uncertain • Year - over - year improvement in commercial construction expected in near - term • Favorable demographics in an underbuilt industry provides support for long - term and point to a more protracted slowdown in the medium - term • Opened 29 greenfield locations and completed 12 strategic acquisitions since the start of fiscal 2020 to enhance customer service, drive growth in product offerings and improve efficiencies, all while reducing our net debt leverage ratio from 3.6x at April 30, 2019 to 1.6x at October 31, 2022 • Continuing to modernize and upgrade fleet, adding essential safety features to protect employees and customers and for risk management benefits • Technology investments to automate work has led to increased productivity, making us better operators Strategic Investments Position GMS for Near - Term Industry Dynamics & Long - Term Success Industry Fundamentals Support Outlook Greenfield and Acquisition totals are calculated since the start of fiscal 2020 through Dec. 1, 2022

9 Expectations 1. For a reconciliation of Adjusted SG&A, Adjusted Net Income, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow to the mo st directly comparable GAAP metrics, see Appendix. Expectations for Q3 Fiscal 2023 Anticipate continued strength in multi - family; Timing of single - family demand slowdown is unknown and will vary by market, but will materialize Expect year - over - year favorability in pricing for Wallboard, Ceiling tiles and Complementary Products in Q3 Steel Framing and Ceiling grid pricing is expected to decline year - over - year • Q3 FY23 Expected Year - Over - Year Net Sales Growth: mid - single - digits, most of which is expected to be both organic and inflation driven • Q3 FY23 Expected Gross Margin: Generally consistent with prior year quarter and long - term trend around 32% • Q3 FY23 Adjusted EBITDA Margin 1 : Approaching the prior year quarter’s level of 11.7% • FY23 Full year interest expense: ~$60 million • FY23 Cash tax rate for Adjusted Net Income 1 : ~ 25.5% • FY23 Full year capital expenditures: ~ $40 million • FY23 Free Cash Flow 1 : Approximately 60% of Fiscal 2023 Adjusted EBITDA 1 Full Year Fiscal 2023 Expectations

10 GMS is Well - Positioned Now and for the Long - Term Industry leader with local expertise and broad North American scale Superior safety track record and logistics execution Breadth of product offerings, with growing Complementary Product opportunities Strong balance sheet , substantial liquidity and expected strong long term cash flow generation to support future growth Differentiated service model with professional sales force delivering best - in - class customer service Successfully executing on strategic priorities to capitalize on long - term growth opportunities Hein – can you please replace this picture with the one of the guy accepting drywall thru the window? Also – I’m not sure if I like the numbers off to the left on this slide. Do you think there’s some sort of icon or something that might look better? Products and Expertise to service single - family, multi - family and commercial customers

11 Appendix

12 Summary Quarterly Financials (In millions) 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 (Unaudited) Wallboard Volume (MSF) 1,095 1,104 1,054 1,181 4,433 1,191 1,232 Wallboard Price ($ / '000 Sq. Ft.) 356$ 376$ 394$ 416$ 386$ 438$ 474$ Wallboard 390$ 415$ 415$ 491$ 1,711$ 522$ 585$ Ceilings 138 141 140 149 568 167 160 Steel framing 196 272 283 277 1,028 275 278 Complementary products 318 323 316 372 1,328 396 409 Net sales 1,042 1,151 1,154 1,289 4,635 1,360 1,431 Cost of sales 706 779 786 876 3,147 925 966 Gross profit 336 372 368 413 1,488 435 465 Gross margin 32.2% 32.3% 31.9% 32.0% 32.1% 32.0% 32.5% Operating expenses: Selling, general and administrative expenses 214 231 241 264 950 268 279 Depreciation and amortization 28 29 30 32 119 32 32 Total operating expenses 242 260 271 297 1,069 300 311 Operating income 94 112 97 116 419 135 153 Other (expense) income: Interest expense (14) (15) (15) (14) (58) (15) (16) Other income, net 1 1 1 1 4 2 2 Total other expense, net (13) (14) (14) (13) (54) (13) (14) Income before taxes 81 98 83 103 365 122 139 Income tax expense 20 24 21 26 91 32 36 Net income 61$ 74$ 61$ 76$ 273$ 90$ 103$ Business Days 63 64 62 64 253 63 65 Net Sales by Business Day 16.5$ 18.0$ 18.6$ 20.1$ 18.3$ 21.6$ 22.0$ Beginning Branch Count 268 283 285 286 268 292 295 Added Branches 15 2 1 6 24 3 2 Ending Branch Count 283 285 286 292 292 295 297

13 Quarterly Cash Flows (1) Free cash flow is a non - GAAP financial measure defined as net cash provided by (used in) operations less capital expenditures. D ifferences may occur due to rounding. ($ in millions) (Unaudited) 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 Net income $ 61.2 $ 74.4 $ 61.4 $ 76.5 $ 273.4 $ 89.5 $ 103.2 Non-cash changes & other changes 28.8 57.8 43.9 65.6 196.2 8.9 63.3 Changes in primary working capital components: Trade accounts and notes receivable (73.5) (73.9) 37.4 (52.2) (162.1) (69.6) (63.8) Inventories (87.3) (81.2) (22.6) 34.8 (156.3) (28.7) (3.6) Accounts payable (4.3) 20.9 (62.9) 74.7 28.4 (4.4) 8.2 Cash provided by (used in) operating activities (75.1) (2.0) 57.2 199.5 179.6 (4.4) 107.3 Purchases of property and equipment (6.8) (9.3) (17.0) (7.9) (41.1) (10.9) (10.7) Proceeds from sale of assets 0.3 0.2 0.7 0.8 1.9 0.3 0.6 Acquisitions of businesses, net of cash acquired (123.0) (1.9) (220.4) (2.7) (348.1) (2.6) (0.0) Cash (used in) investing activities (129.6) (11.1) (236.8) (9.8) (387.2) (13.3) (10.1) Cash provided by (used in) financing activities 81.4 28.7 207.8 (174.6) 143.3 22.2 (77.4) Effect of exchange rates (0.2) 0.1 (0.5) (0.2) (0.8) 0.2 (2.2) Increase (decrease) in cash and cash equivalents (123.4) 15.7 27.7 14.9 (65.1) 4.7 17.6 Balance, beginning of period 167.0 43.6 59.3 87.0 167.0 101.9 106.6 Balance, end of period $ 43.6 $ 59.3 $ 87.0 $ 101.9 $ 101.9 $ 106.6 $ 124.2 Supplemental cash flow disclosures: Cash paid for income taxes $ 1.0 $ 36.8 $ 23.3 $ 25.2 $ 86.3 $ 3.2 $ 57.6 Cash paid for interest $ 8.6 $ 9.0 $ 18.1 $ 10.5 $ 46.2 $ 17.8 $ 11.5 Cash provided by (used in) operating activities $ (75.1) $ (2.0) $ 57.2 $ 199.5 $ 179.6 $ (4.4) $ 107.3 Purchases of property and equipment (6.8) (9.3) (17.0) (7.9) (41.1) (10.9) (10.7) Free cash flow (1) (81.9) (11.3) 40.2 191.6 138.5 (15.3) 96.5

14 Q2 2023 Net Sales 1. Organic net sales growth calculation excludes net sales of acquired businesses until first anniversary of acquisition date an d i mpact of foreign currency translation. ($ in millions) (Unaudited) FY23 FY22 Reported Organic (1) Organic (1) 1,405.8$ 1,150.6$ Acquisitions 35.7 - Fx Impact (10.6) - Total Net Sales 1,431.0$ 1,150.6$ 24.4% 22.2% Wallboard 584.6$ 414.5$ 41.0% 41.4% Ceilings 159.6$ 140.9 13.3% 13.6% Steel Framing 278.2 272.0 2.3% 2.5% Other Products 408.7 323.2 26.5% 17.8% Total Net Sales 1,431.0$ 1,150.6$ 24.4% 22.2% Fiscal Q2 Variance

15 Quarterly Net Income to Adjusted EBITDA Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share - based awards D. Represents severance expenses and other costs permitted in calculations under the ABL Facility and the Term Loan Facility E. Represents one - time costs related to acquisitions paid to third parties F. Includes gains and losses from the sale and disposal of assets G. Represents the non - cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value ( $ in 000s) 1Q22 2Q22 3Q22 4Q22 FY22 1Q23 2Q23 (Unaudited) Net Income 61,202$ 74,361$ 61,383$ 76,496$ 273,442$ 89,470$ 103,153$ Add: Interest Expense 13,657 14,744 15,429 14,267 58,097 14,661 16,055 Less: Interest Income - (27) (40) (96) (163) (56) (154) Add: Income Tax Expense 19,971 23,769 21,211 26,426 91,377 32,030 35,995 Add: Depreciation Expense 12,925 13,703 13,816 14,993 55,437 14,993 15,058 Add: Amortization Expense 14,789 15,700 15,934 17,372 63,795 17,447 17,168 EBITDA 122,544$ 142,250$ 127,733$ 149,458$ 541,985$ 168,545$ 187,275$ Adjustments Stock appreciation rights (A) 892 983 1,251 1,277 4,403 2,344 3,230 Redeemable noncontrolling interests (B) 310 593 182 898 1,983 495 340 Equity-based compensation (C) 1,958 3,215 3,077 2,718 10,968 3,132 3,781 Severance and other permitted costs (D) 147 249 273 463 1,132 352 379 Transaction costs (acquisition and other) (E) 575 2,393 921 (344) 3,545 386 292 (Gain) loss on disposal of assets (F) (78) (144) (252) (439) (913) (284) 81 Effects of fair value adjustments to inventory (G) 1,731 - 1,870 217 3,818 44 135 Total Add-Backs 5,535$ 7,289$ 7,322$ 4,790$ 24,936$ 6,469$ 8,238$ Adjusted EBITDA (as reported) 128,079$ 149,539$ 135,055$ 154,248$ 566,921$ 175,014$ 195,513$ Net Sales $1,042,076 $1,150,551 $1,153,595 $1,288,653 $4,634,875 $1,359,553 $1,430,979 Adjusted EBITDA Margin 12.3% 13.0% 11.7% 12.0% 12.2% 12.9% 13.7%

16 Net Income to Pro Forma Adjusted EBITDA Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share - based awards D. Represents severance expenses and other costs permitted in calculations under the ABL Facility and the Term Loan Facility, including certain unusual, nonrecurring costs and credits received due to the COVID - 19 pandemic E. Represents one - time costs related to our initial public offering and acquisitions paid to third party advisors as well as costs related to the retirement of corporate stock appreciation rights F. Represents the non - cash cost of sales impact of purchase accounting adjustments to increase inventory to its estimated fair value G. Represents mark - to - market adjustments for derivative financial instruments H. Represents one - time costs related to our secondary offerings paid to third party advisors I. Represents expenses paid to third party advisors related to debt refinancing activities J. Pro forma impact of earnings from acquisitions from the beginning of the LTM period to the date of acquisition, including synergies ( $ in 000s) LTM 2Q23 2022 2021 2020 2019 2018 2017 2016 (Unaudited) Net Income 330,502$ 273,442$ 105,560$ 23,381$ 56,002$ 62,971$ 48,886$ 12,564$ Add: Interest Expense 60,412 58,097 53,786 67,718 73,677 31,395 29,360 37,418 Add: Write off of debt discount and deferred financing fees - - 4,606 1,331 - 74 7,103 - Less: Interest Income (346) (163) (86) (88) (66) (177) (152) (928) Add: Income Tax Expense 115,662 91,377 31,534 22,944 14,039 20,883 22,654 12,584 Add: Depreciation Expense 58,860 55,437 50,480 51,332 46,456 24,075 25,565 26,667 Add: Amortization Expense 67,921 63,795 57,645 65,201 71,003 41,455 43,675 37,548 EBITDA 633,011$ 541,985$ 303,525$ 231,819$ 261,111$ 180,676$ 177,091$ 125,853$ Adjustments Impairment of goodwill - - 63,074 - - - Stock appreciation rights (A) 8,102 4,403 3,173 1,572 2,730 2,318 148 1,988 Redeemable noncontrolling interests (B) 1,915 1,983 1,288 520 1,188 1,868 3,536 880 Equity-based compensation (C) 12,708 10,968 8,442 7,060 3,906 1,695 2,534 2,699 Severance and other permitted costs (D) 1,467 1,132 2,948 5,733 8,152 581 (157) 379 Transaction costs (acquisition and other) (E) 1,255 3,545 1,068 2,414 7,858 3,370 2,249 3,751 (Gain) loss on disposal of assets (894) (913) (1,011) 658 (525) (509) (338) (645) Effects of fair value adjustments to inventory (F) 2,266 3,818 788 575 4,176 324 946 1,009 Gain on legal settlement - (1,382) (14,029) - - - - Change in fair value of financial instruments (G) - - - - 6,395 6,125 382 19 Secondary public offerings (H) - - - 363 - 1,525 1,385 - Debt transaction costs (I) - - 532 - 678 1,285 265 - Total Add-Backs 26,819$ 24,936$ 15,846$ 67,940$ 34,558$ 18,582$ 11,138$ 12,330$ Adjusted EBITDA (as reported) 659,830$ 566,921$ 319,371$ 299,759$ 295,669$ 199,258$ 188,229$ 138,183$ Contributions from acquisitions (J) 2,346 21,348 4,948 1,480 6,717 1,280 9,500 12,093 Pro Forma Adjusted EBITDA 662,176$ 588,269$ 324,319$ 301,239$ 302,386$ 200,538$ 197,729$ 150,276$ Net Sales $5,232,780 $4,634,875 $3,298,823 $3,241,307 $3,116,032 $2,511,469 $2,319,146 $1,858,177 Adjusted EBITDA margin (as reported) 12.6% 12.2% 9.7% 9.2% 9.5% 7.9% 8.1% 7.4%

17 Income Before Taxes to Adjusted Net Income Reconciliation Commentary A. Depreciation and amortization from the increase in value of certain long - term assets associated with the April 1, 2014 acquisition of the predecessor company and amortization of intangible assets from the acquisitions of Titan, Westside Building Materials, and AMES Taping Tools B. Normalized cash tax rate determined based on our estimated taxes excluding the impact of purchase accounting and certain other deferred tax amounts ($ in 000s) 2Q23 2Q22 (Unaudited) Income before taxes 139,148$ 98,130$ EBITDA add-backs 8,238 7,289 Purchase accounting depreciation and amortization (A) 13,057 10,811 Adjusted pre-tax income 160,443 116,230 Adjusted income tax expense 40,913 28,476 Adjusted net income 119,530$ 87,754$ Effective tax rate (B) 25.5% 24.5% Weighted average shares outstanding: Basic 42,232 43,135 Diluted 42,887 43,894 Adjusted net income per share: Basic 2.83$ 2.03$ Diluted 2.79$ 2.00$

18 Reported SG&A to Adjusted SG&A Reconciliation Commentary A. Represents changes in the fair value of stock appreciation rights B. Represents changes in the fair value of noncontrolling interests C. Represents non - cash equity - based compensation expense related to the issuance of share - based awards D. Represents severance expenses and other costs permitted in calculations under the ABL Facility and the Term Loan Facility E. Represents one - time costs related to acquisitions paid to third parties (Unaudited) 1Q22 2Q22 3Q22 4Q22 FY2022 1Q23 2Q23 ($ in millions) SG&A - Reported 214.1$ 230.5$ 241.0$ 264.5$ 950.1$ 267.7$ 279.0$ Adjustments Stock appreciation rights (A) (0.9) (1.0) (1.3) (1.3) (4.4) (2.3) (3.2) Redeemable noncontrolling interests (B) (0.3) (0.6) (0.2) (0.9) (2.0) (0.5) (0.3) Equity-based compensation (C) (2.0) (3.2) (3.1) (2.7) (11.0) (3.1) (3.8) Severance and other permitted costs (D) (0.2) (0.3) (0.3) (0.4) (1.1) (0.4) (0.4) Transaction costs (acquisition and other) (E) (0.6) (2.4) (0.9) 0.3 (3.5) (0.4) (0.3) Gain (loss) on disposal of assets 0.1 0.1 0.3 0.4 0.9 0.3 (0.1) SG&A - Adjusted 210.3$ 223.2$ 235.6$ 259.9$ 929.0$ 261.3$ 270.9$ % of net sales 20.2% 19.4% 20.4% 20.2% 20.0% 19.2% 18.9%

19 Leverage Summary (1) Net of unamortized discount of $ 0.5 mm, $0.5mm, $0.5mm, $0.5mm and $0.4mm as of October 31, 2021, January 31, 2022, April 30, 2022 , July 31, 2022 and October 31, 2022 respectively. (2) Net of deferred financing costs of $3.6 mm, $3.4mm, $3.1mm, $2.8mm and $2.6mm as of October 31, 2021, January 31, 2022, April 30, 2022 , July 31, 2022 and October 31, 2022 respectively. (3) Net of deferred financing costs of $5.2 mm, $5.0 mm, $4.8mm, $4.7mm and $4.5mm as of October 31, 2021, January 31, 2022, April 30, 2022 , July 31, 2022 and October 31, 2022 respectively (4) Net of unamortized discount of $0. 6 mm, $0.5mm, $0.4mm, $0.3mm, and $0.2mm as of October 31, 2021, January 31, 2022, April 30, 2022, July 31, 2022 and October 31, 2022 respectively. (5) For a reconciliation Pro Forma Adjusted EBITDA to net income, the most directly comparable GAAP metric, see Appendix. ($ mm) 10/31/21 1/31/22 4/30/22 7/31/22 10/31/22 LTM LTM LTM LTM LTM Cash and cash equivalents $59 $94 $102 $107 $124 Revolving Credit Facilities $141 $359 $211 $265 $240 First Lien Term Loan (1) (2) 503 502 501 500 499 Senior Notes (3) 345 345 345 345 345 Capital Lease Obligations 112 113 120 125 126 Installment Notes & Other (4) 8 7 7 5 3 Total Debt $1,108 $1,326 $1,184 $1,240 $1,214 Total Net Debt $1,049 $1,232 $1,082 $1,133 $1,090 PF Adj. EBITDA (5) $442 $534 $588 $625 $662 Total Debt / PF Adj. EBITDA 2.5x 2.5x 2.0x 2.0x 1.8x Net Debt / PF Adj. EBITDA 2.4x 2.3x 1.8x 1.8x 1.6x