North American Construction Group Ltd. · TSX:NOA
North American Construction — Investor Presentation (November 2026)
14 slides from North American Construction's investor presentation, November 2026
Slide 1: Investor Presentation
Investor Presentation TSX – NYSE: NOA November 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 $1,800 2018 20% 9x Major revenue diversification: $1,600 2018-2025 49% stake in Nuna Group 1 (northern Canada) 8x Combined revenue CAGR 1 $1,400 adjusted EBITDA CAGR 2020 7x $1,200 DGI
Slide 6: Growth Drivers for 2026 and Beyond
GROWTH DRIVERS FOR 2026 AND BEYOND Strategic Building Blocks for Our Success Scaling Into a Securing Expanding Tier 1 Contractor Infrastructure Awards Mining Services Platform in Australia in Northern Canada in Canada and U.S. 23 Global Operating Sites2 NORTH AMERICAN CONSTRUCTION GROUP 6
Slide 7: Australia Platform Driving Growth
AUSTRALIA PLATFORM DRIVING GROWTH Scale and diversification create a larger platform for sustainable growth 36% Revenue CAGR1 2024 Q1 -2026 Q3 • New leadership adds deep Australian and international mining experience $2.6B • Expanded exposure to copper, gold, lithium, iron ore and nickel strengthens
Slide 8: Positioned to Win in Northern Canada
POSITIONED TO WIN IN NORTHERN CANADA Q3 awards continue Nuna momentum, while major infrastructure pursuits advance Q3 JOINT VENTURE CONTRACT AWARDS $4.6B¹ • Ontario follow-on scope extends site presence from Q4 2026 well Pipeline supporting into Q2 2027 after successful delivery of earlier work. Nun
Slide 9: Oil Sands Platform for Resilient Returns
OIL SANDS PLATFORM FOR RESILIENT RETURNS Strong demand and reliable fleet availability support improved operating margins GROWING PRESENCE IN HEAVY EQUIPMENT MAINTENANCE AND SERVICES MARKET Continued growth with a recent $135M five-year contract 30% creates additional near-term equipment-service opp
Slide 10: New CEO: Disciplined Execution, Valuable Growth
NEW CEO: DISCIPLINED EXECUTION, VALUABLE GROWTH Brad Stronger cash generation to support deleveraging and total shareholder returns Rogers Execution Priorities: 01 Accelerate growth in North America given existing opportunities Incoming President, Chief Executive Officer Seize tailwinds to advance C
Slide 11: 2026 Financial Outlook & Guidance
2026 FINANCIAL OUTLOOK & GUIDANCE Outlook Confidence • Contractual backlog1 as at September 30, 2026 of $3.2 billion underpinning guidance ranges • Strategic and prudent investments in equipment fleets provide confidence for FY 2026 Guidance: $1.7 – $1.8B reliable performance and operational excelle
Slide 12: Supplemental Information
SUPPLEMENTAL INFORMATION NORTH AMERICAN CONSTRUCTION GROUP 12
Slide 13: Heavy Equipment Fleet
HEAVY EQUIPMENT FLEET Category 1 Australia Canada Total +200-ton haul trucks 90 95 185 Large capacity loading units 11 14 25 Large dozers and graders 127 45 172 Large capacity fleet 228 154 382 Haul trucks and articulated trucks 131 151 282 Loading units and other loaders 129 207 336 Dozers and grad
Slide 14: Long-Term Contracts
LONG-TERM CONTRACTS Type Contract1 Backlog2 Queensland thermal Operations Full mine support $1.1B 2079 coal mine services Queensland metallurgical Operations Maintained support $475M 2040 coal mine rental Queensland metallurgical Operations Maintained support $350M 2037 coal mine rental Queensland m
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