Orion Group Holdings, Inc. · NYSE:ORN
Orion — Investor Presentation (July 2026)
28 slides from Orion's investor presentation, Jul 29, 2026
Slide 1: Investor Presentation July 2026
MARINE | CONCRETE | ENGINEERING & CONSULTING Investor Presentation July 2026
Slide 2: Disclaimer
2 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
Slide 3: At a Glance
AT A GLANCE Orion is a leading specialty construction company focused on mission-critical projects on, over, and under the water KEY STATISTICS $852M 2025 Revenue $45M 2025 Adj. EBITDA $722M June 2026 Backlog ~2,000 Employees Marine Comprehensive engineering, construction, jetty & breakwater constru
Slide 4: Orion Investment Appeals
4 ORION INVESTMENT APPEALS Mission critical specialty construction provider with sustainable competitive advantages 1 Poised to benefit from multiple powerful demand drivers and a robust, growing $27B pipeline 2 Clear, disciplined strategy built on strengthened foundation to drive increased value cr
Slide 5: High Barriers to Entry / Why We Win
High Barriers to Entry • Jones Act prohibits foreign competition in the U.S. marine market • Marine specialty equipment is unique and requires significant upfront investment to enter the market • Orion owns 1000+ pieces of specialty equipment with a replacement value of $600M • Legacy of high custom
Slide 6: Opportunity Expansion and Investor Value
Opportunity Expansion • Ability to pursue larger, more complex projects • Expanded site civil earthwork capabilities • Deep relationships with strategic customers • J.E. McAmis add additional marine construction capabilities and West Coast presence Investor Value POSITIONED TO BENEFIT FROM DURABLE,
Slide 7: Massive U.S. Navy Opportunity in the Pacific
7 MASSIVE U.S. NAVY OPPORTUNITY IN THE PACIFIC • U.S. Navy is procuring Multiple Award Construction Contracts for many billions in infrastructure projects throughout the Pacific • Scope includes new facilities, repair/renovation and upgrades to existing facilities, including wharves/piers, dredging,
Slide 8: Clear, Disciplined Strategy Built on a Strengthened Foundation
• Strategic, accretive M&A Criteria: • Augment, add or enhance a capability • Strategic SMEs or equipment • Geographic expansion • Disciplined valuation • Earnings accretive • Capitalize on long-term demand across marine infrastructure and defense modernization and AI infrastructure • Win larger, hi
Slide 9: Optimizing Capital Deployment for Future Growth and Shareholder Value
Deploy capital to drive profitable organic growth Maintain leverage ratio <2.5x Capitalize on strategic opportunities Structure and execute to maximize long-term shareholder value 9 Dec 2030 Senior Credit Facility Maturity a) Net Leverage Ratio calculated as Total Debt less Cash, divided by TTM Adju
Slide 10: Acquisition of J.E. McAmis, Strengthening Marine Capabilities
Heavy Civil | Jetty & Breakwater | Marine | Environmental • 50 years of experience delivering Federal heavy civil construction-- recognized as jetty construction experts and “go-to” provider in harsh environments • Extends and strengthens geographic footprint in Washington, Oregon, Canada, Florida,
Slide 11: Experienced Management Team Focused on Growth and Financial Performance
11 EXPERIENCED MANAGEMENT TEAM FOCUSED ON GROWTH AND FINANCIAL PERFORMANCE Travis Boone, PE Chief Executive Officer • Transformational leader with significant leadership and management experience across the civil, utility / pipeline and commercial building engineering and construction industries • P
Slide 12: Mission-Critical Marine Infrastructure Platform
12 MISSION-CRITICAL MARINE INFRASTRUCTURE PLATFORM ALIGNED WITH LONG-TERM DEFENSE AND PORT INVESTMENT Construction Dredging Specialty General construction, restoration, maintenance & repair of ports and docks, jetty & breakwater, marine pipelines, marine transportation facilities, bridges and enviro
Slide 13: Diversified Concrete Capabilities
Data centers, office buildings and complexes, tilt wall warehouses, airport facilities, medical facilities, retail sites, cold storage, and education facilities High-rise buildings, complexes, and stadiums Commercial Structural Wastewater treatment, tank foundations, site work, and terminals and man
Slide 14: Financial Performance
FINANCIAL PERFORMANCE 14
Slide 15: Historical Annual Financial Summary
$17 $23 $24 $42 2021 2022 2023 2024 2025 2026E Adjusted EBITDA $45 $52 15 HISTORICAL ANNUAL FINANCIAL SUMMARY ($ in millions) $601 $748 $712 $796 $852 $925 2021 2022 2023 2024 2025 2026E Revenue 2021 Guidance Midpoint Guidance Midpoint • 2026 Revenue guidance midpoint signals expected growth • 2026
Slide 16: Second Quarter 2026 Results
16 SECOND QUARTER 2026 RESULTS Q2 2026 Q2 2025 Revenue $222M $205M GAAP Net (Loss) Income per share ($0.10) $0.02 Adjusted EBITDA $8M $11M Adjusted EPS $0.02 $0.07 Adjusted EBITDA Margin 3.5% 5.3%
Slide 17: Record $27B Opportunity Pipeline to Support Future Growth
17 RECORD $27B OPPORTUNITY PIPELINE TO SUPPORT FUTURE GROWTH $6B $8B $13B $0-$50M $50M-$200M $200M+ Total Pipeline by Anticipated Opportunity Size 70% 30% Total Pipeline by Sector Public Private Total Pipeline by Segment Marine Concrete 12% 88% $7B $6B $14B 2H2026 1H2026 Beyond Total Pipeline by Ant
Slide 18: Fiscal Year 2026 Guidance
18 FISCAL YEAR 2026 GUIDANCE (AS OF JULY 28, 2026) FY2026 Guidance Annual Growth at Midpoint Revenue $900 to $950 9% Adjusted EBITDA $50 to $54 15% Adjusted EPS $0.23 to $0.30 6% Capex $25 to $35 __ Table in millions, except EPS and percentage changes
Slide 19: Recent Evolution of Backlog
0 100 200 300 400 500 600 700 800 900 1000 New management joined Orion 19 RECENT EVOLUTION OF BACKLOG BACKLOG ($ in millions) RECENT WINS Manufacturing Facilities USACE Sargent Beach Jetty and Beach Renourishment Project Bridge Replacement Terminal Wharf Expansion Contract in Texas
Slide 20: Appendix
APPENDIX 20
Slide 21: Valued Partner to Highly Diversified Customer Base
21 VALUED PARTNER TO HIGHLY DIVERSIFIED CUSTOMER BASE ENERGY DATA CENTERS GOVERNMENT OTHER Long-tenured relationships with customers across federal, state & local government and private enterprise
Slide 22: Non-GAAP Supplemental Information
NON-GAAP SUPPLEMENTAL INFORMATION 22 Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net (loss) income $ (4,145) $ 841 $ 542
Slide 23: Reconciliation of Adjusted Net (Loss) Income
23 Orion Group Holdings, Inc. and Subsidiaries Reconciliation of Adjusted Net (Loss) Income (In Thousands Except Per Share Information) (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Net (loss) income $ (4,145) $ 841 $ 542 $ (573) Adjusting items and the tax ef
Slide 24: Non-GAAP Supplemental Information
24 (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization. (2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation, severance, process improvement initiatives and acqu
Slide 25: Non-GAAP Supplemental Information
25 (1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization. (2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation, severance, process improvement initiatives and acqu
Slide 26: Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations
26 Orion Group Holdings, Inc. and Subsidiaries Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations (In Thousands, Except Margin Data) (Unaudited) Year Ending December 31, 2021 2022 2023 2024 2025 Net (loss) income $ (14,560) $ (12,612) $ (17,875) $ (1,644) $ 2,488 Income tax expense 502 429 3
Slide 27: Non-GAAP Supplemental Information
27 NON-GAAP SUPPLEMENTAL INFORMATION
Slide 28: Guidance – Adjusted EPS Reconciliation
28 Orion Group Holdings, Inc. and Subsidiaries Guidance – Adjusted EPS Reconciliation (In Thousands except per share information) (Unaudited) Year Ending December 31, 2026 Low Estimate High Estimate Net income $ 6,600 $ 10,600 Adjusting items and the tax effects: Non-cash share-based compensation 7,
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