Mr. Martin Ferron reports

NORTH AMERICAN CONSTRUCTION GROUP LTD. PROVIDES CORPORATE UPDATES

Joe Lambert has resigned from his position as president and chief executive officer of North American Construction Group Ltd. to pursue other opportunities. Effective immediately, the company's chief operating officer, Barry Palmer, has assumed the role of president and chief executive officer. The company has begun the process of assessing both internal and external candidates to assume the role on a permanent basis.

Martin Ferron, chairman of the board of directors, stated: "I would like to take this opportunity to thank Mr. Lambert for his dedication and loyalty to the company. During his tenure, Joe successfully led the company to new levels of geographic and commodity diversification while also navigating through unprecedented challenges. In no small part, due to his leadership, NACG is now very well positioned to be a strong competitor in the civil construction, mining and earthworks markets throughout North America and Australia. I wish Joe all the best in his future endeavours."

Mr. Palmer, president and chief executive officer, stated: "We remain focused on our customers at the start of 2026 and I am looking forward to leading our company into this important year. Having been here for over 40 years, I will ensure that our teams stay focused on safety and operational excellence. We have the people, equipment and culture to achieve our targets and our collective goal is to continue to grow by building on the solid foundation that is in place."

Further to its press release on Dec. 18, 2025, the company confirms that closing activities related to its acquisition of Iron Mine Contracting remain on schedule, with a targeted closing of this quarter. The company expects to provide a date for the release of its 2025 annual report in the coming weeks.

About North American Construction Group Ltd.

North American Construction Group 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 Group has delivered quality services to the mining, resource and infrastructure construction markets.

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