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1NORTH AMERICAN CONSTRUCTION GROUP 2026 Q3 EARNINGS PRESENTATIONNovember 5, 2026
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2 This presentation contains forward-looking information which reflects the current plans and expectations of North American Construction Group Ltd. (the “Company”) with respect to future events and financial performance. Examples of such forward-looking information in this document include, but are not limited to, statements with respect to the Company’s targets for percentage of adjusted EBIT to be generated outside Canadian oil sands; the Company’s 2026 targets and guidance related to adjusted EBITDA, adjusted EPS, sustaining capital, free cash flow, growth capital, deleveraging, leverage ratios and share purchases; and the Company’s liquidity and capital allocation expectations for 2026, including expectations regarding improvements in cash flow, decreases in capital additions and decrease in net debt leverage.Forward-looking information is based on management’s plans, estimates, projections, beliefs and opinions as at the date of this presentation, and the assumptions related to those plans, estimates, projections, beliefs and opinions may change; therefore, they are presented for the purpose of assisting the Company’s security holders in understanding management’s views at such time regarding those future outcomes and may not be appropriate for other purposes. While the Company anticipates that subsequent events and developments may cause the Company’s views to change, the Company does not undertake to update any forward-looking information, except to the extent required by applicable securities laws.Actual results could differ materially from those contemplated by the forward-looking information in this presentation as a result of any number of factors and uncertainties, many of which are beyond the Company’s control. Important factors that could cause actual results to differ materially from those in the forward-looking information include success of business development efforts, changes in prices of oil, gas and other commodities, availability of government infrastructure spending, availability of a skilled labour force, general economic conditions, weather conditions, performance and strategic decisions of our customers, access to equipment, changes in laws and ability to execute work.For more complete information about the Company and the material factors and assumptions underlying our forward-looking information please read the most recent disclosure documents posted on the Company’s website www.nacg.caor filed with the SEC and the CSA. You may obtain these documents by visiting EDGAR on the SEC website at www.sec.gov or on the CSA website at www.sedarplus.ca. This presentation presents certain non-GAAP financial measures because management believes that they may be useful to investors in analyzing our business performance, leverage and liquidity. The non-GAAP financial measures we present include "adjusted EBIT”, "adjusted EBITDA", "adjusted EPS", “backlog”, "cash provided by operating activities prior to change in working capital", “combined revenue”, “free cash flow”, “growth capital”, “invested capital”, “adjusted EBITDA margin", "combined gross profit", "combined gross profit margin”, “net debt", "net debt leverage”, and “sustaining capital”. A non-GAAP financial measure is defined by relevant regulatory authorities as a numerical measure of an issuer's historical or future financial performance, financial position or cash flow that is not specified, defined or determined under the issuer’s GAAP and that is not presented in an issuer’s financial statements. These non-GAAP measures do not have any standardized meaning and therefore are unlikely to be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. Each of the above referenced non-GAAP financial measures is defined and reconciled to its most directly comparable GAAP measure in the “Non-GAAP Financial Measures” section of our Management’s Discussion and Analysis filed concurrently with this presentation.Other non-GAAP financial measures used in this presentation are “bid pipeline”, “replacement value”, “liquidity”, “return on invested capital", "senior secured debt” and “senior debt leverage”. We believe these non-GAAP financial measures are commonly used by the investment community for valuation purposes and provide useful metrics common in our industry.“Bid Pipeline” is the total revenue value of potential future work NACG is pursuing but has not yet booked as backlog.“Replacement value” represents the cost to replace our fleet at market price for new equivalent equipment.“Liquidity” is calculated as unused borrowing availability under the credit facility plus cash.“Return on invested capital” is equal to adjusted EBIT less tax divided by average invested capital.“Senior secured debt” is defined as debt directly secured against tangible assets.“Senior debt leverage” is calculated as senior debt at period end divided by the trailing twelve-month EBITDA as defined by our Credit Facility Agreement. FORWARD-LOOKING STATEMENTS & NON-GAAP FINANCIAL MEASURES
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3NORTH AMERICAN CONSTRUCTION GROUP 2026 Q3FINANCIALOVERVIEW
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4NORTH AMERICAN CONSTRUCTION GROUP • Record third quarter combined revenue1 driven by full-quarter contribution from IMC, oil sands execution and commissioned growth assets• Revenue generated by MacKellar Group continues record setting pace in Queensland and New South Wales• IMC revenue of over $70 million in line with acquisition expectations but was hampered by operational challenges• Canadian revenue exceeded the prior-year quarter by over 20% driven by strong oil sands demand and improved mechanical availability 2026 Q3 PERFORMANCE 1 See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures $438MCombined revenue1 $100MAdjusted EBITDA1 $3.2BBacklog130%Increase in Canada fleet utilization 1 NORTH AMERICAN CONSTRUCTION GROUP
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5NORTH AMERICAN CONSTRUCTION GROUP1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures COMBINED RESULTS2025 Q32026 Q3(figures in millions of Canadian dollars unless otherwise stated)Heavy Equipment$189$271- Australia$132$146- Canada$70$21Joint ventures & other$391$438Combined revenue1Heavy Equipment19.5%$3712.2%$33- Australia10.4%$1410.5%$15- Canada9.4%$615.6%$3Joint ventures & other2 14.5%$5711.8%$52Combined gross profit1Combined gross profit margin1impacted by specific maintenance and operational challenges in Australia• In Queensland, approximately $10 million of additional labour and parts costs were incurred at a thermal coal mine during the quarter to improve and stabilize the mechanical availabilities of both customer-owned and MacKellar-owned equipment • In Western Australia, a pit wall failure at a major lithium mine site caused operational inefficiencies due to lower overall mine production and the impacts of haul road inaccessibility and reconstruction• In Canada, continuing improvements and momentum in margin reflects day-to-day focus on operational excellence coupled with higher heavy equipment mechanical availability and utilizationNORTH AMERICAN CONSTRUCTION GROUP
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6NORTH AMERICAN CONSTRUCTION GROUP ADJUSTED EBITDA1AND EPS1 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures2Excludes stock-based compensation 3Adjusted EBIT and EBITDA percentages shown are calculated as percentages of combined revenue4Excludes Canadian organizational realignment costs and acquisition and integration costs and Fargo impacts 2025 Q32026 Q3(figures in millions of Canadian dollars unless otherwise stated)25.3%$9922.8%$100Adjusted EBITDA 1,3 11.2%$447.0%$31Adjusted EBIT 1,3 $0.66$0.25Adjusted EPS 1 4.7%$164.6%$20General & administrative expenses 2, 4 $17($24)Net income$0.59($0.90)Basic net income per shareAdjusted EBITDA1stable at $100M as growth from IMC and improved Canadian utilization were offset by additional operating costs in Australia • Australian performance was affected by increased labour and parts spend primarily on a component replacement program in Queensland and operational challenges at a lithium project in Western Australia• Canadian operations benefited from stronger demand, improved equipment availability General and administrative expenses remain below 5% target excluding acquisition and organizational realignment costs and Fargo impacts • Year-over-year increase was primarily attributable to the additional administrative headcount associated with the IMC acquisitionAdjusted earnings per share1 reflect the positive contribution from IMC, offset by higher financing costs• Cash interest expense increased by $0.20 per share, primarily reflecting acquisition and growth-capital debtFargo project significantly impacted basic EPS resulting from the increase in estimated project costs• Revised forecast included a 9% increase in overall project costs resulting in a contract loss position• Forecast is not expected to be revised by the joint venture executive committee as project is near physical completion• Added back for adjusted net earnings1as project is non-core and we will only enter future arrangements which provide operational controlNORTH AMERICAN CONSTRUCTION GROUP
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7NORTH AMERICAN CONSTRUCTION GROUP CASH PROVIDED BY OPERATING ACTIVITIES Improved oil sands performance supported operating cash flow, offset by temporary working capital1impacts in AustraliaSustaining capital1additions reflects the continued investment in our core fleets and strong demand in the oil sands region• MacKellar additions1driven by major maintenance projects and replacement fleet purchases scheduled during the quarter• Canada spending was incurred in response to strong demand in the oil sands region and in direct support of our equipment utilization targets• The addition of IMC modestly increased sustaining capital1requirements in Western Australia1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures 2025 Q32026 Q3(figures in millions of Canadian dollars unless otherwise stated)$72$52Cash provided by operations prior to working capital1 $20($5)Net changes in non-cash working capital1 $92$47Cash provided by operating activities$47$77Sustaining capital additions1 $46($28)Free cash flow1 NORTH AMERICAN CONSTRUCTION GROUP
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8NORTH AMERICAN CONSTRUCTION GROUP BALANCE SHEETDecember 31, 2024December 31, 2025September 30, 2026(figures in millions of Canadian dollars unless otherwise stated)$78$100$112Cash 171422412Cash liquidity1 1,2521,3591,606Property, plant & equipment1,6951,8202,224Total assets1.6x$6771.4x$5101.7x$646Senior secured debt1,2 2.1x8562.4x8783.0x1,123Net debt1,2 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures.2Leverage ratios calculated on a trailing twelve-month basis Cash liquidity1 remains strong following IMC investment; deleveraging is the near-term capital allocation priority• Cash liquidity of $412M provides financial flexibility and remains broadly consistent with pre-acquisition levelsNet debt1levels remain consistent with Q2 balance following the acquisition of IMC • Management is prioritizing cash conversion, disciplined capital spending and debt reduction• Near-term deleveraging is expected to be supported by operating cash flow and normalization of working capitalNORTH AMERICAN CONSTRUCTION GROUP
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9NORTH AMERICAN CONSTRUCTION GROUP DEBT COMPOSITION & MATURITY PROFILEDebt structure provides interest-rate stability and a manageable maturity profile 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures.2Leverage ratios calculated on a trailing twelve-month basisNORTH AMERICAN CONSTRUCTION GROUP More than 80% of debt is fixed-rate, providing predictability in a changing interest-rate environment• Long-term fixed instruments create consistent and predictable interest costs• In addition, over 80% of debt matures in 2028 or later, supporting financial stability and flexibility through the deleveraging periodScheduled equipment-financing repayments and discretionary revolver reduction provide a clear mechanisms to lower debt NORTH AMERICAN CONSTRUCTION GROUP
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10 1Record Q3 combined revenue1driven by IMC, growth capital & execution2026 Q3 HIGHLIGHTS3New five-year oil sands services contract commenced, adding visible, capital-efficient revenue4IMC platform continues growth trajectoryas active bid pipelinepursuits increase5Capitalizing on increasing oil sands activityas equipmentdemand increases 6Recognized with the 2025 Alberta Mine Safety Association Safety Excellence Award,reflecting NACG’s strong safety culture 2Canadian fleet plan gaining traction with improved mechanical availability and utilization
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11NORTH AMERICAN CONSTRUCTION GROUP LOOKINGFORWARD
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12NORTH AMERICAN CONSTRUCTION GROUP FINISHING 2026 STRONGExecution priorities to enter 2027 with momentum 1Safety firstMaintain safety-first mentality across all global operations, ensuring Everyone Gets Home Safe2Workforce efficiencyFurther optimize workforce mix in Australia, following recent improvements3Cost disciplineFollowing major growth in Queensland, reduce discretionary operating costs while fully maintaining customer requirements 4IMC integrationSeamlessly integrate and commission the expanded IMC fleet in Western Australia to support growth and operational scale 5Fleet availabilityEnhance mechanical availability and reliability of the heavy equipment fleet in the oil sands 6Leadership continuity Execute an orderly CEO transition with continuity in strategy, customer focus and capital allocationNORTH AMERICAN CONSTRUCTION GROUP
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13NORTH AMERICAN CONSTRUCTION GROUP23Global Operating Sites2Securing Infrastructure Awardsin Northern Canada GROWTH DRIVERS FOR 2026 AND BEYONDStrategic Building Blocks for Our Success Expanding Mining Services in Canada and U.S.Scaling Into a Tier 1 Contractor Platform in Australia NORTH AMERICAN CONSTRUCTION GROUP
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14NORTH AMERICAN CONSTRUCTION GROUP $2.6BContractual Backlog1as of September 30, 2026 36%Revenue CAGR12024 Q1 -2026 Q3AUSTRALIA PLATFORM DRIVING GROWTHScale and diversification create a larger platform for sustainable growth $8.2BTotal Bid Pipeline1as of September 30, 20261 See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures2 Sources: Infrastructure Partnerships Australia; Infrastructure AustraliaNORTH AMERICAN CONSTRUCTION GROUP • New executive leadership adds deep Australian and international mining experience• Expanded exposure to copper, gold, lithium, iron ore and nickel strengthens geographic & commodity diversification• Tier 1 contractor through MacKellar & IMC capable of executing large scopes across the country• Targeting increased lower-capital unit-rate projects• Strong market supports demand over next 5 years • A$278B2public infrastructure spend• A$242B2major project pipeline NORTH AMERICAN CONSTRUCTION GROUP
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15NORTH AMERICAN CONSTRUCTION GROUP POSITIONED TO WIN IN NORTHERN CANADAQ3 awards continue Nuna momentum, while major infrastructure pursuits advance 1 See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures+20 Entities established throughout Nuna’s history in multiple jurisdictions across Northern Canada +260Nuna heavy equipmentassets $4.6B¹Pipeline supportinglong-term growth 2026 Q3 JOINT VENTURE CONTRACT AWARDS• Ontario follow-on scope extends site presence from well into 2027 after successful delivery of earlier work scopes. Nuna also secured a multi-year extension at a legacy Northwest Territories project and a new Yukon project, expanding its northern footprintINDIGENOUS PARTNERSHIPS• A new Yukon community collaboration agreement supports Indigenous training, employment and business opportunities, adding to Nuna’s active partnerships across CanadaINFRASTRUCTURE PURSUITS• Port and road: dedicated subcontractor to a team pursuing a progressive design-build project• Northern corridor: four-way partnership in place as the project advances through government and First Nations processes• Defense infrastructure: dedicated subcontractor to a shortlisted construction management teamNORTH AMERICAN CONSTRUCTION GROUP
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16NORTH AMERICAN CONSTRUCTION GROUPNORTH AMERICAN CONSTRUCTION GROUP 260Identified multi-life heavy equipment assets GROWING PRESENCE IN HEAVY EQUIPMENT MAINTENANCE AND SERVICES MARKET Continued growthwith a recent $135M five-year contract creates additional near-term equipment-service opportunities.Modest growth capital requirements of $5M for twenty-five on-highway units and support equipment, alongside existing fleetAPPROVED EXECUTION PLAN & INCREASED DEMANDDefined fleet targetsgive maintenance and operations teams clear objectivesHigher availabilityshould improve financial outcomes and reduce downtime and schedule riskSustainable marginsInvestment focuses on visible demand, return thresholds, selective work and operating disciplineEquipment demand Longer hauls and broader requirements increase the value of reliable fleet availability OIL SANDS PLATFORM FOR RESILIENT RETURNSStrong demand and reliable fleet availability support improved operating margins30%Year-over-year increase in Canadian Q3 utilization NORTH AMERICAN CONSTRUCTION GROUP
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17NORTH AMERICAN CONSTRUCTION GROUP+$15 billionIn total bid pipeline1opportunities$4.5 billionTotal bid pipeline1In active tender and procurement phase BID PIPELINE1Strong global pipeline. Positioned to convert opportunities into meaningful growth 14 resourcesDiversity in global opportunities1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures2Bid pipeline in active tender and procurement phase NORTH AMERICAN CONSTRUCTION GROUP
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18NORTH AMERICAN CONSTRUCTION GROUP NEW CEO: DISCIPLINED EXECUTION, VALUABLE GROWTHStronger cash generation to support deleveraging and total shareholder returnsBradRogersIncoming President,Chief Executive Officerand DirectorEffective December 1, 202630+ Years of ExperienceAcross mining, services,infrastructure and financeFormer CEO at Jupiter Mines and Bis IndustriesChartered Accountant Previous CFO with senior leadership experience in commercial management and corporate development Accelerate growth in North America given existing opportunitiesSeize tailwinds to advance Canadian and U.S. mining and infrastructure opportunities.Convert active bids into contracts with clear returns and executable scopes.Progress indicators: new contract awards and backlog conversionEmbed operational excellence in day-to-day performanceTranslate fleet availability targets into consistent site performance.Strengthen project oversight and cost control to improve cash conversion.Progress indicators: fleet availability, operating margins and cash conversionMaximize value of Australian investmentBuild on MacKellar and IMC to broaden customer and commodity exposure.Leverage market position to win attractive work against visible demand.Progress indicators: customer mix and return on invested capital 01Stated Execution Priorities: 0203 NORTH AMERICAN CONSTRUCTION GROUP
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19NORTH AMERICAN CONSTRUCTION GROUP 2026 FINANCIAL OUTLOOK & GUIDANCEOutlook Confidence• Contractual backlog1as at September 30, 2026 of $3.2 billion underpinning guidance ranges• Strategic and prudent investments in equipment fleets provide confidence forreliable performance and operational excellence2026 Guidance• Combined revenue1midpoint of $1.75 billion based on increased expectations for the fourth quarter of 2026• Adjusted EBITDA1midpoint of $385 million reflecting the operating challenges experienced in the third quarter ramping down prior to year end• Australia: Reflects continued ramp-ups of MacKellar in eastern Australia and IMC in Western Australia and a return to historical margin profiles• Canada and oil sands region: Improved utilization heading into an anticipated busy winter season • Nuna Group of Companies: Expected uplift in fourth quarter from fleet expansions in northern Canada $1.7 – $1.8BCombined revenue1$370 – $400MAdjusted EBITDA1 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures 2026 Guidance Ranges NORTH AMERICAN CONSTRUCTION GROUP
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20NORTH AMERICAN CONSTRUCTION GROUP SUPPLEMENTAL INFORMATION
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21NORTH AMERICAN CONSTRUCTION GROUP COMPANY OVERVIEW Corporate head office & maintenance facilities in Acheson, AlbertaAustralia – administrative offices & maintenance facilitiesSites with significant current operations Fleet of over 1,200 heavy equipment assets •Backed by support equipment & infrastructureCurrent workforce of ~4,000 employees• Canada, Australia, U.S.; over 90% operationalOperator of Nuna Group of Companies•Inuit-owned contractor in northern Canada PREMIER PROVIDER OF MINING & HEAVY CONSTRUCTION FOR +70 YEARS NORTH AMERICAN CONSTRUCTION GROUP
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22NORTH AMERICAN CONSTRUCTION GROUP CAPITAL MARKETS OVERVIEW $16.63Share price TSX:NOA/NYSE:NOA STATS as of November 3, 2026 2.9%Dividend yield27MShares outstanding,net of treasury shares $443MMarket capitalizationBB-NegativeS&P Global RatingDebt ratingAssigned June 9, 2026BB (high)StableMorningstar DBRS Debt rating Reaffirmed April 23, 2026 Since 2013, NOA has repurchased 50% of the shares outstanding on December 31, 2012. NORTH AMERICAN CONSTRUCTION GROUP
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23NORTH AMERICAN CONSTRUCTION GROUP EVERYONE GETS HOME SAFEFocused on health & safety for ourselves, our customers, our environment, & the communities we work in 1For clarity, excludes IMC. In millions, exposure hours are the number of employment hours including overtime & training but excluding leave, sickness & other absences 2Serious Injury and Fatality Potential3Human and Organization Performance 7.0• Trailing twelve-month injury rate below target of 0.50• TTM exposure hours of 6.9 million1Primary initiatives currently underway• Advanced proactive safety initiatives through audiometric testing, winter preparedness training, enhanced subcontractor management, and site-based safety performance sessions• Received the 2025 Alberta Mine Safety Association Safety Excellence Award for the 300,000 to 3,000,000 Workforce Hours category, recognizing our commitment to workplace safety and strong TIF performance of 0.25 Total Recordable Injury Rate Exposure Hours1 NORTH AMERICAN CONSTRUCTION GROUP
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24NORTH AMERICAN CONSTRUCTION GROUP LONG-TERM CONTRACTSBacklog2Contract1Type$1.1BFull mine servicesOperations supportQueensland thermalcoal mine$475MMaintained rentalOperations supportQueensland metallurgicalcoal mine$350MMaintained rentalOperations supportQueensland metallurgicalcoal mine<$100MStockpile managementOperations supportQueensland metallurgicalcoal mine<$100MEarly works & developmentConstruction project-basedNew South Wales Copper Mine$500MFull mine servicesOperations supportWestern Australia Lithium Mine<$100MMSAwith termOperations supportWestern Australia Iron Ore Mine<$100MMUAwith termOperations supportCanadian oil sands regional contract$135MMUAwith termOperations supportCanadian oil sands heavy equipment service <$100MMSAwith termOperations supportCanadian oilsands mine$150MDesign &buildConstruction project-basedFargo- Moorhead Flood Diversion Project<$100MMine managementOperations supportTexas mine-mouththermal coal mine1MUA – Multiple Use Agreement; MSA – Multiple Service Agreement2See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures 207920402037 20592060O&M - 20562037 20462030 AustraliaCanada + U.S.Expected mine life 207920452059NORTH AMERICAN CONSTRUCTION GROUP
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25NORTH AMERICAN CONSTRUCTION GROUP HEAVY EQUIPMENT FLEET • As of September 30, 2026, over 1,200 heavy equipment assets provide scale and operational flexibility• Managed on an individual asset basis and deployed with sole objective of maximum operating utilization 1Large capacity fleet inclusive of trucks >200T, loaders in excess of 61m3, large dozers and graders include D11/D10 and 24/18/16 fleets respectively TotalCanadaAustraliaCategory 1 1859590+200-ton haul trucks 251411Large capacity loading units17245127Large dozers and graders382154228Large capacity fleet282151131Haul trucks and articulated trucks336207129Loading units and other loaders13111417Dozers and graders864640Support equipment1,217672545Heavy equipment fleet NORTH AMERICAN CONSTRUCTION GROUP
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26NORTH AMERICAN CONSTRUCTION GROUP Change2025 Q32026 Q3(figures in millions of Canadian dollars unless otherwise stated)96317413Revenue from wholly-owned entities per financial statements(42)13593Share of revenue from investments in affiliates and joint ventures———IMC economic benefit - revenue(7)(61)(68)Elimination of joint venture subcontract revenue47391438Total combined revenue (i) (2)4947Gross profit from wholly-owned entities per financial statements(52)7(45)Share of gross (loss) profit from investments in affiliates and joint ventures50—50Equity investment loss on legacy project(5)5752Combined gross profit(41)17(24)Net income (i) —Adjustments:1—1Stock-based compensation expense (benefit)1—1Amortization of acquisition related intangible assets112Loss (gain) on disposal of property, plant and equipment(2)1(1)Unrealized foreign exchange (gain) loss3(3)(20)Change in FV of contingent obligations - estimate adjustments(1)21Loss on derivative financial instruments(1)1—Equity investment loss on derivative financial instruments1—1IMC acquisition and integration costs———Canadian organizational realignment costs50—50Equity investment loss on legacy project(6)1(5)Tax effect of the above items(13)207Adjusted net (loss) earnings(i)(ii)Adjustments:6(1)5Tax effect of the above items (9)6(3)Income tax (recovery) expense(24)6(18)Equity investment EBIT(i) 23(5)18Equity loss (earnings) in affiliates and joint ventures(2)31Change in FV of contingent obligations - interest accretion61521Interest expense, net(13)4431Adjusted EBIT(i)(ii)Adjustments:165066Depreciation and amortization of non-acquisition related intangible assets(1)54Equity investment depreciation and amortization199100Adjusted EBITDA(i)(ii) GAAP TO NON-GAAP RECONCILIATION 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial MeasuresNORTH AMERICAN CONSTRUCTION GROUP
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27NORTH AMERICAN CONSTRUCTION GROUP GAAP TO NON-GAAP RECONCILIATION (continued) 1See Slide 2 or 2026 Q3 Financial Report for Non-GAAP Financial Measures Change2025 Q32026 Q3(figures in millions of Canadian dollars)78189267Revenue from wholly-owned entities per financial statements - Heavy Equipment - Australia4—4Share of revenue from investment in affiliates and joint ventures - IMC PPKPE82189271Australia combined revenue (1) 15126141Revenue from wholly-owned entities per financial statements - Heavy Equipment - Canada46872Share of revenue from investment in affiliates and joint ventures - MNALP(7)(61)(68)Elimination of joint venture subcontract revenue - MNALP14132146Canada combined revenue (1) 134Revenue from wholly-owned entities per financial statements - other(54)54—Share of revenue from investment in affiliates and joint ventures - Fargo21113Share of revenue from investment in affiliates and joint ventures - Nuna123Share of revenue from investment in affiliates and joint ventures - Other1—1Revenues from intersegment transactions(49)7021Joint venture & other combined revenue(1) 47391438Combined revenue(1) 3732Gross profit from wholly-owned entities per financial statements - Heavy Equipment - Australia2—2Share of gross (loss) profit from investments in affiliates and joint ventures - IMC PPKPE(4)3733Australia combined revenue (1) 21113Gross profit from wholly-owned entities per financial statements - Heavy Equipment- Canada—22Share of gross (loss) profit from investments in affiliates and joint ventures - MNALP———Write-down expenses relating to Canadian organizational realignment costs11415Canada combined gross profit(1) —11Gross profit from wholly-owned entities per financial statements - Heavy Equipment - other———Gross profit from wholly-owned entities per financial statements - Heavy Equipment - eliminations(53)3(50)Share of gross (loss) profit from investments in affiliates and joint ventures - Fargo(1)21Share of gross (loss) profit from investments in affiliates and joint ventures - Nuna———Share of gross (loss) profit from investments in affiliates and joint ventures - other50—50Equity investment loss on legacy project(3)63Joint venture & other combined gross profit (1) (5)5752Combined gross profit (1) NORTH AMERICAN CONSTRUCTION GROUP