Lowe's describes its ULX exterior plywood as "ideal for weather-protected as well as exterior projects when properly finished." ULX exterior plywood is sanded on one side to allow easy application of finishes. Lowe's also claims that it is "premium surface grade for woodworking projects."
ULX exterior is a BCX plywood. The letters "B" and "C" refer to the quality of finish, with "B" being the superior surface. When working on a project, ensure the "B" side, which is sanded, is the most visible as it gives a better finish. The letter "X" denotes that exterior glue bonds the sheets together. This makes it more resistant to moisture than interior grades of plywood.
ULX exterior plywood traditionally comes in four-by-eight foot sheets. Thicknesses range from 11/32 inches to 23/32 inches.