Mr. Jason Veenstra reports

NORTH AMERICAN CONSTRUCTION GROUP LTD. ANNOUNCES PRICING OF PRIVATE PLACEMENT OFFERING OF $200 MILLION SENIOR UNSECURED NOTES

North American Construction Group Ltd. has entered into an underwriting agreement to sell, pursuant to a private placement offering, $200-million aggregate principal amount of 7.00 per cent senior unsecured notes due June 16, 2031. The notes will be issued at a price of $1,000 per $1,000 of notes. The notes will accrue interest at the rate of 7.00 per cent per annum, payable in cash in equal payments semi-annually in arrears each June 16 and Dec. 16, commencing on Dec. 16, 2026. The notes will be issued pursuant to an indenture to be entered into between North American Construction and Computershare Trust Company of Canada, as trustee.

North American Construction intends to use the net proceeds of the offering to repay indebtedness under its existing credit agreement and for general corporate purposes.

The notes are being conditionally offered for sale in Canada on a private placement basis pursuant to certain prospectus exemptions.

The offering is being led by National Bank Financial Inc., including its U.S. affiliates, ATB Capital Markets Corp., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Genuity Corp. and Raymond James Ltd.

Subject to customary closing conditions, the closing of the offering is expected to occur on or about June 16, 2026.

About North American Construction Group Ltd.

North American Construction is a premier provider of heavy civil construction and mining services in Australia, Canada and the United States. For over 70 years, North American Construction has provided services to the mining, resource and infrastructure construction markets.

We seek Safe Harbor.