Second Quarter 2002 Conference Call July 29, 2002

2 Safe Harbor Statement P P ortions of this presentation are forward-looking and, as such, reflect only the Company’s best assessment at this time. Investors are cautioned that forward-looking statements involve risks and uncertainty, that actual results may differ materially from such statements and that investors should not place undue reliance on such statements. Factors that may affect actual results include, but are not limited to potential regulations; the Company’s ability to effectively manufacture, market and distribute new products; the success of the Company’s operating plans; regional weather conditions; and the condition of the industry and the economy. For a further discussion of risk factors, investors should refer to the Company’s Securities and Exchange Commission reports, including, but not limited to, Form 10-K for the quarter ended March 31, 2001.

First Half 2002 Accomplishments

4 Customer Loyalty & SatisfactionCustomer Loyalty & Satisfaction –Sales reorganization - zone concept –Implementing Hub & Spoke - Avon Lake, Ohio; Sebring, Florida; and Hamilton, New Jersey conversions near completion –Improved in-stock position from Gains software –LESCO on-line web site –“40th Anniversary” promotions –Improved terms and financing –Customer satisfaction surveys First Half 2002 Accomplishments

5 Shareholder ValueShareholder Value –SKU rationalization and inventory markdown –Asset rationalization - expected annual pre-tax benefit of $3.0 million –Private label program –June-Dec urea cost containment Business Process ImprovementBusiness Process Improvement –Initiated Policies & Procedures –Product life cycle process, including progressive markdown of discontinued items –Monthly Operations Review Meetings –Unity Project - moving forward to enhance selling process First Half 2002 Accomplishments

6 Expense & Capital DisciplinesExpense & Capital Disciplines –Consultants - Gone - $2 million of annual savings –Creation of disciplined spending culture - over $2 million of annual expenses removed –Capital approval process Enhancement of Associate Skills & ProductivityEnhancement of Associate Skills & Productivity –Job descriptions - roles and responsibilities –Systems conversion from outside consultants to in-house personnel First Half 2002 Accomplishments

7 Summary of One-time Charges Second Quarter 2002

Operating Results

9 Income Statement - 2nd Quarter

10 *2002 (First Half Actual & Second Half Forecast) Sales Seasonality

11 Second Quarter Sales - 1.4% Increase over 2001

12 Second Quarter Sales - Channels 5.2% (4.3)% (1.5)%

13 Second Quarter Sales - Products *Other includes Pest Control, Golf Accessories, Irrigation, and Miscellaneous. (7.8)% 3.6% 2.0% (1.3)% 2.1%

14 Gross Profit on Sales 34.2%33.4%35.4%34.0% %’s are percent of sales. *Excludes one-time charges for asset impairment of $23.4 million comprised of inventory markdown of $9.6 million; manufacturing rationalization of $12.0 million; and severance expense of $1.8 million.

15 Expenses - Total Note : Excludes one-time charges for asset impairment of $13.8 million comprised of manufacturing rationalization of $12.0 million and severance expense of $1.8 million.

16 Expenses - Components Note : Excludes one-time charges for asset impairment of $13.8 million comprised of manufacturing rationalization of $12.0 million and severance expense of $1.8 million.

17 Interest Expense

18 Net Income Before One-time Charges Note : Excludes one-time charges for asset impairment of $23.4 million comprised of inventory markdown of $9.6 million; manufacturing rationalization of $12.0 million; and severance expense of $1.8 million. 28% increase

19 EPS Before One-time Charges 25.0% increase Note : Excludes one-time charges for asset impairment of $23.4 million comprised of inventory markdown of $9.6 million; manufacturing rationalization of $12.0 million; and severance expense of $1.8 million.

First Half 2002 Operating Results

21 Income Statement First Half 2002

June 30, 2002 Balance Sheet & Cash Flows

23 Consolidated Balance Sheet (a) As of 6/30/01 and 12/31/01, LESCO had sold trade receivables in securitization transactions totaling $35.0 million and $31.2 million, respectively.

24 Consolidated Statement of Cash Flow

25 Working Capital Investment (a) (a) Excludes $5.8 million of accruals relative to asset rationalization and severance costs and $1.1 million of the current portion of long-term debt.

26 Borrowings Under Debt Facilities

Full Year Guidance

28 Sales growth 2-4%; was 4-5%Sales growth 2-4%; was 4-5% GM% increase 150 bpsGM% increase 150 bps Expenses - flat to prior yearExpenses - flat to prior year EPS in the range of $ $0.70*EPS in the range of $ $0.70* * Excludes one-time charges for inventory markdown of $9.6 million, manufacturing rationalization of $12.0 million, severance expense of $3.8 million, debt restructuring of $2.9 million, net of taxes, and FASB No. 142 of $4.6 million, net of taxes Forecast

29 Sales Growth & ROIC Goals

30 Questions & Answers