North American Construction Group Ltd. · TSX:NOA
North American Construction — Q1 2026 Earnings Presentation
14 slides from North American Construction's earnings presentation, May 14, 2026
Slide 1: Investor Presentation
Investor Presentation TSX – NYSE: NOA May 2026
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 and This presentation presents certain non-GAAP financial measures because management expectations of North American Construction Group Ltd. (the “Company”
Slide 3: Global, Diversified Heavy Mining & Civil Infrastructure Contractor
GLOBAL, DIVERSIFIED HEAVY MINING & CIVIL INFRASTRUCTURE CONTRACTOR Built to Move. Ready to Build. Since 1953. Global Leader in Mining Services Full Mine Site Operations • Planning, equipment maintenance, pre-strip & post mine reclamation, dewatering and waste & ore handling Equipment & Operators • O
Slide 4: Diversified Global Operating Platform
DIVERSIFIED GLOBAL OPERATING PLATFORM Exposure Across Multiple Commodities, Geographies and Contract Types Mining Services, 80% Australia, 75% Time & Materials based, 80%‡ Metallurgical Thermal Coal, 35% Coal, 30% Unit-rate, 10% Contract Vertical Geography Commodity Type Rentals, 5% Lithium, 5% Fixe
Slide 5: Diversified, Strong Operational Growth
DIVERSIFIED, STRONG OPERATIONAL GROWTH Valuation Multiple Lags Fundamentals and Peers – Attractive Entry Point 10x $1,600 2018 20% 9x Major revenue diversification: 2018-2025 $1,400 49% stake in Nuna Group 1 (northern Canada) 8x Combined Revenue CAGR 1 Adjusted EBITDA CAGR $1,200 2020 7x DGI Trading
Slide 6: Growth Drivers for 2026 and Beyond
GROWTH DRIVERS FOR 2026 AND BEYOND Strategic Building Blocks for Our Success Scaling Into Securing Expanding Tier 1 Contractor Infrastructure Awards Mining Services Platform in Australia Across North America in Canada and the U.S. NORTH AMERICAN CONSTRUCTION GROUP 6
Slide 7: Iron Mine Contracting Acquired
IRON MINE CONTRACTING ACQUIRED Establishing a Tier 1 Platform in the Overall Australian Market Transaction Update • Transactions closed April 7, 2026, with an economic $840M effective date of January 1, 2026 Contractual Backlog1 as of 03/31/26 Acquisition Highlights • Combining IMC & MacKellar Group
Slide 8: Scaling into Tier 1 Contractor Platform in Australia
SCALING INTO TIER 1 CONTRACTOR PLATFORM IN AUSTRALIA Perfectly Positioned to Expand in the Strategic Minerals Hub of ‘The West’ Operations Across 18 sites, operations benefit from favourable and 50% consistent operating conditions that support year-round Revenue CAGR 2020 to 2025 equipment utilizati
Slide 9: Securing Infrastructure Awards in North America
SECURING INFRASTRUCTURE AWARDS IN NORTH AMERICA Know-how and Fleet Well-Suited for Nation-building Projects Across Canada & U.S Operations • Fargo-Moorhead Flood Diversion Project with our earthworks portion progressing as planned, reinforcing execution 20% Of global operations capabilities (Infrast
Slide 10: Expanding Mining Services in Canada and the U.S.
EXPANDING MINING SERVICES IN CANADA AND THE U.S. 70+ Years of Expertise Supports Expanding Scope Across the Continent Operations +10% Mining services span from north of the arctic circle to the Revenue CAGR heart of Texas, with over 70 years of operations in the 2020 to 2025 Canadian oil sands. One
Slide 11: 2026 Financial Outlook & Guidance
2026 FINANCIAL OUTLOOK & GUIDANCE 2026 Guidance Outlook • Strong contractual backlog1,2 of $3.9 billion $1.5 – 1.7B 7% 1 Combined revenue – $1.5 billion secured • Annual revenue of $1.5 billion2 already secured for 2026 • Total bid pipeline of $14.6 billion2 $380 – 420M • $4.8 billion2 in active ten
Slide 12: Supplemental Information
SUPPLEMENTAL INFORMATION 12
Slide 13: Heavy Equipment Fleet
HEAVY EQUIPMENT FLEET • As of March 31, 2026 approximately 1,250 heavy equipment assets provide scale and operational flexibility • Managed on an individual asset basis and deployed with sole objective of maximum operating utilization Fleet count Australia Canada Total +200-ton haul trucks 84 97 181
Slide 14: Long-Term Contracts
LONG-TERM CONTRACTS Type Contract1 Backlog2,3 Queensland Operations Full mine support $1.6B 2079 thermal coal mine services Queensland Operations Maintained support $520M 2040 metallurgical coal mine rental Queensland Operations Maintained support $392M 2037 metallurgical coal mine rental Queensland
North American Construction Group — Q1 2026 Earnings Presentation on 6ix