Orion Group Holdings, Inc. · NYSE:ORN
Orion — Investor Presentation (October 2025)
30 slides from Orion's investor presentation, October 2025
Slide 1: Investor Presentation October 2025
Investor Presentation October 2025
Slide 2: Disclaimer
Disclaimer This presentation contains, and the officers and directors of the Company may from time to time make, statements that are considered forward looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are su
Slide 3: Orion At-A-Glance
Orion At-A-Glance BUSINESS DESCRIPTION KEY FACTS AND FIGURES Orion Group Holdings is a leading specialty Financial Profile construction and engineering company focused on large-scale infrastructure projects across two core segments: Marine and Concrete $796M $42M 5.3% $729M 2024 Revenue 2024 Adj. EB
Slide 4: Large Market Opportunity with Strong, Diverse Tailwinds
Large Market Opportunity with Strong, Diverse Tailwinds… OBBBA & Trump Administration Directives Port Expansion and Maintenance Prioritizing restoration of maritime dominance with investment in shipyards, Larger ships via expanded Panama Canal require upgraded vessel upgrades, drydocks shipping chan
Slide 5: Marine Segment At-A-Glance
Marine Segment At-A-Glance SEGMENT OVERVIEW KEY FACTS AND FIGURES • Construction solutions spanning port expansion & maintenance, bridge, causeway and marine infrastructure construction services to customers across diversified end markets in the Continental U.S., Pacific Islands, Western Canada and
Slide 6: Concrete Segment At-A-Glance
Concrete Segment At-A-Glance SEGMENT OVERVIEW KEY FACTS AND FIGURES • Turnkey concrete construction services including place and finish, site work, layout, forming and rebar for clients across manufacturing, data center, institutional, industrial, commercial construction and multi-family constructio
Slide 7: Orion Key Highlights
Orion Key Highlights 1 Mission Critical Specialty Construction Provider with Sustainable Competitive Advantages 2 Multiple, Growing Market Opportunities with Strong Tailwinds and Diverse Demand Drivers 3 Highly Diversified Customer Base and Multiple Funding Sources 4 Strategic Plan Underway to Drive
Slide 8: Mission-Critical Specialty Construction Provider with Sustainable Advantages
Misson-Critical Specialty Construction Provider with Sustainable Advantages POSITIONED FOR GROWTH CRITICAL SERVICE PROVIDER HIGH BARRIERS TO ENTRY FROM MULTIPLE TAILWINDS • Mission-critical specialty construction • Jones Act prohibits foreign competition • Well-positioned to take advantage of servic
Slide 9: Highly Diversified Customer Base
Highly Diversified Customer Base ENERGY DATA CENTERS GOVERNMENT OTHER Long-tenured relationships with blue-chip customers across federal, state & local government and private enterprise 9
Slide 10: Experienced Management Leading Strategic Plan to Drive Long-Term Growth
Experienced Management Leading Strategic Plan to Drive Long-Term Growth Execution on Actionable, Multi-Phase Strategic Plan is Underway PURSUIT AND BID GEOGRAPHIC EXPANSION DISCIPLINE Enter new geographies (including Western U.S. Focus on high-quality projects at healthier margins and Pacific Island
Slide 11: Improved Profitability of the Concrete Business
Successful Execution of Strategic Transformation - Phase I ✓ ✓ ✓ Improved Strengthened Fortified Financial Profitability of the Business Flexibility to Optimize Concrete Business Development Growth Potential • Implemented minimum bid margins • Prioritized pursuit of high-impact, • Secured a long-ter
Slide 12: Strong Track Record of Execution – Clear Direction for Phase II
Strong Track Record of Execution – Clear Direction for Phase II PHASE II OF STRATEGIC PLAN RECORD PIPELINE TO SUPPORT FUTURE GROWTH Four core pillars of growth potential have been identified in Orion has significantly expanded its pipeline of Phase II of Orion’s Strategic Plan: opportunities over th
Slide 13: $18B Opportunity Pipeline by Anticipated Award Date, Size, Segment and Sector
$18B Opportunity Pipeline by Anticipated Award Date, Size, Segment and Sector Total Pipeline by Anticipated Award Total Pipeline by Segment Date $8B $8B Concrete 11% $2B 89% Marine 4Q25 2026 2027 + Total Pipeline by Anticipated Total Pipeline by Sector Opportunity Size $7B Private $6B 28% $5B 72% Pu
Slide 14: Experienced Management Team Focused on Growth and Financial Performance
Experienced Management Team Focused on Growth and Financial Performance Travis Travis Boone, Boone, PE PE 30 Alison Vasquez 25 Years of Chip Earle 25 Years of Years of Chief Executive Officer Chief Financial Officer General Counsel Chief Executive Officer Experience Experience Experience • Transform
Slide 15: Case Study: Aging U.S. Navy Infrastructure
Case Study: Aging U.S. Navy Infrastructure U.S. NAVY INFRASTRUCTURE IN NEED OF REPAIR • Aging US Navy port infrastructure – average dry dock is now 107 years old1 • The U.S. Navy has 9 dry docks in HI & WA; replacement Airfield Improvements of dry dock 3 in Pearl Harbor is underway at estimated cost
Slide 16: Case Study: Significant Data Center Growth Expected Through 2032
Case Study: Significant Data Center Growth Expected to Continue Through 2032 Driven by AI and Cloud Computing 6.4GW OF DATA CENTER CAPACITY KEY METRICS (AS OF 9/30/25) UNDER CONSTRUCTION WITH 83% PRE-LEASED 39 ~$255M ~$47M 2GW Orion’s Total Project Value Contract Dollars from Projects Awarded expans
Slide 17: Financial Overview
Financial Overview
Slide 18: Recent Evolution of Backlog
Recent Evolution of Backlog ($ in millions) 1000 BACKLOG SELECTED CONTRACT HIGHLIGHTS 900 800 New management 700 joined Orion $21M $24M 600 Multi-Story Structural Costco Distribution Contract in Texas Center- Phase 2 (2025) (2025) 500 400 300 $114M $450M 200 Bridge Replacement Dry Dock Contract Cont
Slide 19: Historical Annual Financial Summary
Historical Annual Financial Summary ($ in millions) Revenue Adjusted EBITDA $843 $796 $748 $712 $42 $45 $601 $23 $24 $17 2021 2022 2023 2024 2025E 2021 2022 2023 2024 2025E Guidance Guidance 2021 Midpoint Midpoint • 2025 Revenue guidance midpoint signals continued growth • 2025 Adjusted EBITDA guida
Slide 20: Nine Month 2025 Results
Nine Month 2025 Results 9mo 2025 9mo 2024 Growth (YOY) Revenue $619M $580M +7% GAAP EPS $0.07 ($0.25) +$0.32/share Adjusted EBITDA $32M $25M +30% Adjusted EPS $0.16 ($0.06) +$0.22/share Adjusted EBITDA Margin 5.2% 4.3% +90bps ▪ 9 month 2025 results were driven by increased volume in both our Marine
Slide 21: Updated Fiscal Year 2025 Guidance (as of October 28, 2025)
Updated Fiscal Year 2025 Guidance (as of October 28, 2025) FY2025 “Orion is well positioned opposite multiple growing tailwinds that span Revenue $825M - $860M robust AI investment, strong domestic focus on reshoring manufacturing, Adjusted EBITDA $44M - $46M commercial investment in marine infrastr
Slide 22: Appendix
Appendix
Slide 23: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information 23
Slide 24: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information 24
Slide 25: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information 25
Slide 26: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Marine Concrete Year ended Year ended December 31, December 31, 2024 2024 Operating income 2,318 9,203 Other income
Slide 27: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Year Ending December 31, 2020 2021 2022 2023 2024 Net income (loss) $ 20,220 $ (14,560) $ (12,612) $ (17,875) $ (1,6
Slide 28: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA, Unburdened Adjusted EBITDA and Unburdened Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Three Months Ended September 30, 2025 Marine Concrete Operating income (loss)
Slide 29: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EBITDA Reconciliation (In Thousands) (Unaudited) Year Ending December 31, 2025 Low Estimate High Estimate Net income $ 1,765 $ 4,603 Income tax expense 1,500 2,000 Interest expense, net 9,385 9,385 Depr
Slide 30: Non-GAAP Supplemental Information
Non-GAAP Supplemental Information Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EPS Reconciliation (In thousands except per share information) (Unaudited) Year Ending December 31, 2025 Low Estimate High Estimate Net income $ 1,765 $ 4,603 Adjusting items and the tax effects: Share-
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