North American Construction Group Ltd. Provides Corporate Updates

Executive Summary

• Joe Lambert resigns as President and CEO; COO Barry Palmer assumes the role on an interim basis.
• The board will assess internal and external candidates for a permanent CEO appointment.
• Closing activities for the Iron Mine Contracting acquisition remain on schedule with target closing this quarter, and the 2025 Annual Report release date will be announced soon.

Key Details

• Joe Lambert steps down effective immediately to pursue other opportunities.
• Barry Palmer, current COO, is appointed interim President and CEO.
• The Board, chaired by Martin Ferron, will evaluate both internal and external candidates for a permanent CEO.
• Chairman Martin Ferron praised Lambert’s leadership in diversifying geography and commodities and positioning NACG competitively in civil construction, mining, and earthworks markets across North America and Australia.
• Barry Palmer, now President & CEO, emphasized continued focus on safety, operational excellence, and growth targets for 2026, citing his 40‑year tenure with the company.
• Acquisition of Iron Mine Contracting remains on schedule; closing is targeted for this quarter.
• The company will announce the release date of its 2025 Annual Report in the coming weeks.

Notable Quotes

• Martin Ferron, Chairman: “During his tenure, Joe successfully led the Company to new levels of geographic and commodity diversification… NACG is now very well positioned to be a strong competitor…”
• Barry Palmer, President & CEO: “We remain focused on our customers at the start of 2026… I will ensure that our teams stay focused on safety and operational excellence.”