North American Construction Group Ltd. Announces Pricing of Private Placement Offering of $200 Million Senior Unsecured Notes

Executive Summary

• North American Construction Group Ltd. announced a $200 million private placement offering of 7.00% Senior Unsecured Notes due June 16, 2031.
• The notes will be issued at par ($1,000 per note) with semi-annual cash interest payments commencing December 16, 2026.
• Net proceeds will be allocated to repay existing credit agreement indebtedness and for general corporate purposes, with closing expected on or about June 16, 2026.

Key Details

• Gross Proceeds: $200 million aggregate principal amount
• Instrument: 7.00% Senior Unsecured Notes due June 16, 2031
• Issue Price: $1,000 per $1,000 of Notes
• Interest Terms: 7.00% per annum, payable in cash semi-annually in arrears on June 16 and December 16
• First Interest Payment Date: December 16, 2026
• Trustee: Computershare Trust Company of Canada
• Use of Proceeds: Repayment of indebtedness under existing Credit Agreement and general corporate purposes
• Underwriters/Lead Managers: National Bank Financial Inc., 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.
• Offering Structure: Private placement in Canada (prospectus exemptions); offered in the US to qualified institutional buyers under Rule 144A; offered offshore under Regulation S
• Expected Closing Date: On or about June 16, 2026