Company Overview

North American Construction Group Ltd. (“NACG”) is a Canadian heavy civil construction and mining services company headquartered in Acheson, Alberta. The company primarily provides mining and heavy construction services to customers in the resource development and infrastructure sectors, with a strong concentration in oil sands mining in Western Canada. NACG operates large fleets of heavy equipment and provides contract mining, earthworks, site services, mine management, and equipment maintenance services. Its core revenue drivers are long-term mining contracts, heavy equipment rentals, and infrastructure-related construction activities.

The company’s principal customer base includes oil sands producers, mining companies, and industrial infrastructure developers across Canada, the United States, and Australia. NACG traces its origins to operations established in the 1950s and evolved through expansion in heavy construction and mining support services before becoming a publicly traded company on the Toronto Stock Exchange under the symbol NOA. The company is recognized for its ownership and operation of one of the larger independently operated heavy equipment fleets in the Canadian oil sands region, which supports long-duration customer contracts and recurring maintenance revenue.

Business Operations

NACG organizes its operations around several major business activities, including Heavy Equipment – Canada, Heavy Equipment – Australia, Mining, Construction, and Equipment Rental operations. The company generates revenue primarily through contract mining and site services agreements, where it supplies equipment, operators, maintenance, and project management services. Its Canadian operations remain the largest contributor to revenue, particularly through oil sands overburden removal, mine support, and tailings management work in Alberta. The company has also expanded internationally through Australian mining services operations tied to metallurgical coal and other resource projects.

The company controls and operates a substantial fleet of heavy construction and mining equipment, including haul trucks, excavators, dozers, graders, and support assets. NACG has developed strategic relationships with major resource producers and equipment manufacturers, and it has expanded through acquisitions and joint ventures. Notable investments include ownership interests in MacKellar Group in Australia and the acquisition of ML Northern Services Ltd., which expanded infrastructure and civil construction capabilities. The company also operates equipment rental and component remanufacturing activities that support fleet utilization and operational efficiency.

Strategic Position & Investments

NACG’s strategic direction has focused on geographic diversification, long-term contract mining work, fleet optimization, and expansion into international mining jurisdictions. Management has emphasized increasing exposure to recurring mining services revenue while reducing dependence on shorter-cycle construction activity. Expansion into Australia represented a major strategic initiative intended to diversify commodity exposure and strengthen the company’s position in global contract mining markets.

The company has pursued acquisitions and equity investments to broaden operational capabilities and customer reach. Its investment in MacKellar Group significantly increased its presence in Australian mining services, while acquisitions such as ML Northern Services Ltd. strengthened infrastructure and civil construction operations in Canada. NACG has also invested in fleet modernization, equipment rebuild programs, and maintenance infrastructure intended to improve equipment lifecycle economics and operational reliability. Public disclosures indicate continued focus on disciplined capital allocation and long-duration customer relationships in resource-producing regions.

Geographic Footprint

NACG operates primarily in Canada, the United States, and Australia, with its corporate headquarters located in Acheson, Alberta. The company’s historical core market is the Canadian oil sands region, particularly in northern Alberta, where it supports large-scale mining and industrial operations. Canadian operations remain central to the company’s identity and revenue base.

Internationally, NACG has expanded through Australian mining services operations, increasing exposure to metallurgical coal and diversified mining projects. The company also maintains equipment and project activity in selected regions of the United States. Its operational footprint reflects a strategy centered on resource-rich jurisdictions with long-duration mining demand and large-scale infrastructure requirements.

Leadership & Governance

NACG is led by an executive team with experience in mining services, heavy construction, equipment management, and industrial operations. Corporate governance oversight is provided by a board of directors composed of industry and financial professionals. Public company disclosures emphasize operational discipline, safety performance, long-term customer partnerships, and capital efficiency as central elements of leadership strategy.

Key executives include:

• Joseph Lambert – President & Chief Executive Officer
• Jason Veenstra – Chief Financial Officer
• Barry Card – Chief Operating Officer
• Glen Roane – President, Australia
• Linda Southern-Heathcott – Executive Chair

Management has consistently communicated a strategic focus on diversified mining services growth, operational reliability, and disciplined expansion across international resource markets.