N.A. Construction closes $125-million note offering

Mr. Jason Veenstra reports NORTH AMERICAN CONSTRUCTION GROUP LTD. ANNOUNCES CLOSING OF ADDITIONAL $125 MILLION SENIOR UNSECURED NOTES North American Construction Group Ltd. has closed its previously announced private placement offering of an additional $125-million aggregate principal amount of its 7.75 per cent senior unsecured notes due May 1, 2030, representing an additional issuance to the $225-million aggregate principal amount of 7.75 per cent senior unsecured notes issued on May 1, 2025. Following the closing of the offering, there is a $350-million aggregate principal amount of initial notes and notes outstanding. The notes have identical terms (except for their issuance date, issuance price and initial interest accrual date) and are fungible (following the expiry of the applicable statutory hold period) with and are part of the same series as the initial notes. As previously stated, North American Construction will utilize the proceeds of the offering to repay indebtedness under its existing credit agreement and for general corporate purposes. The offering was underwritten by National Bank Capital Markets, ATB Securities Inc., Scotia Capital Inc., TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Canaccord Genuity Corp. and Raymond James Ltd. 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.