North American Construction Group (NOA) Investor presentation summary

Business overview and diversification

• Operates as a global heavy mining and civil infrastructure contractor with a presence since 1953, offering services from equipment supply to full mine site operations and infrastructure projects.

• Diversified across commodities (coal, gold, iron ore, lithium, copper, oil sands), geographies (North America, Australia), and contract types (time & materials, fixed price, rentals).

• Maintains 23 global operating sites, 4,108 employees, and 1,257 heavy equipment assets as of March 2026.

Growth strategy and operational expansion

• Scaling into a Tier 1 contractor platform in Australia, leveraging the IMC acquisition and focusing on strategic minerals in Western Australia and Queensland.

• Securing major infrastructure awards in North America, including the Fargo-Moorhead Flood Diversion Project and multiple Canadian nation-building projects.

• Expanding mining services in Canada and the U.S., supported by a large equipment fleet and over 70 years of expertise.

Financial performance and outlook

• Achieved a 20% combined revenue CAGR and adjusted EBITDA CAGR from 2018 to 2025, with significant revenue diversification through acquisitions.

• 2026 guidance targets record combined revenue of $1.6B and adjusted EBITDA of $400M at the midpoint, with $1.2B already secured for 2026.

• Free cash flow for FY26 is expected to reach $120M at the midpoint, following a strong Q4 2025 performance.