North American Construction Group Ltd. · TSX:NOA
North American Construction — Merger or Acquisition (December 2025)
11 slides from North American Construction's merger presentation, December 2025
Slide 1: Strategic Acquisition of Iron Mine Contracting
Strategic Acquisition of Iron Mine Contracting NORTH AMERICAN CONSTRUCTION GROUP 1 Investor Presentation TSX – NYSE: NOA December 2025
Slide 2: Forward-looking statements & non-GAAP financial measures
Forward-looking statements & non-GAAP financial measures This presentation contains forward-looking information which reflects the current plans This presentation presents certain non-GAAP financial measures because and expectations of North American Construction Group Ltd. (the “Company”) with mana
Slide 3: Iron Mine Contracting at a Glance
Iron Mine Contracting at a Glance Western Australia-based diversified mining services contractor On December 18, 2025, NACG agreed to acquire Iron Mine Contracting (“IMC”), further expanding into the highly favourable Australian market and diversifying its end market exposure 2015 +40% CAGR(1) 10+ ~
Slide 4: Transaction Overview
Transaction Overview Compelling opportunity and financial profile • Strategic Rationale 1. Positive geographic & end market C$115M diversification and exposure to Enterprise value estimate(1) rare earth & critical minerals in Western Australia; including gold / lithium / iron ore / nickel 2. IMC & M
Slide 5: Origination, Integration, Optimization
Origination, Integration, Optimization Announcement is the culmination of prudent sourcing and diligence Transaction Origination Integration & Optimization Plan • IMC owners known by MacKellar Group and had a direct • Systems and processes are already in place for working relationship with Western P
Slide 6: Catalyst for Further Growth in Australia
Catalyst for Further Growth in Australia Immediately achieve nation-wide Tier 1 contractor status National Mining Contractor in Australia • Immediately equip NACG’s Australia operations with Tier 1 capabilities and over $1.0 billion in annual revenues • Compete with other Tier 1 contractors from a p
Slide 7: Western Australia- Global Powerhouse for Critical Minerals
Western Australia- Global Powerhouse for Critical Minerals • Holds vast resources and leading world supplier of critical minerals, especially battery metals like lithium, nickel, cobalt, ACTIVE AUSTRALIAN PROJECTS – 350 mines nickel plus rare earths • Growing processing capabilities & exports to Asi
Slide 8: Combined Business has Significant Global Reach
Combined Business has Significant Global Reach Building critical scale in favourable mining jurisdictions Australia is an Excellent Mining Jurisdiction High growth opportunities in both Western Australia, New South Wales & Queensland Northern Mining friendly region with Territory continued governmen
Slide 9: Geographic Composition
Geographic Composition Further expanding into the highly favourable Australian market U.S. Civil(2) Western Western Northern Australia Australia Canada U.S. Civil 7.5% 15% 5% Northern 15% 5% Canadian Oil 3x Increase in end commodity Canada Sands exposure to iron ore, 5% 12.5% gold, and lithium(1) Q3
Slide 10: Strong Backlog with Tailwinds Supporting Long-Term Runway
Strong Backlog with Tailwinds Supporting Long-Term Runway ~$4.3 billion proforma backlog underpins near-term performance Robust runway for growth driven by expanding infrastructure and critical mineral markets globally Canada & U.S. C$B Backlog(1) $4.3 Australia C$B Backlog(1) ~30% Increase In Total
Slide 11: Everyone Gets Home Safe
EVERYONE GETS HOME SAFE NORTH AMERICAN CONSTRUCTION GROUP 11
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