North American Construction Group(NOA) - 2025 Q4 - Earnings Call Presentation

Other non-GAAP financial measures used in this presentation are "replacement value", "liquidity", "return on invested capital", "senior secured debt" and "senior debt leverage". We believe these non-GAAP financial measures are commonly used by the investment community for valuation purposes and provide useful metrics common in our industry. "Replacement value" represents the cost to replace our fleet at market price for new equivalent equipment. 2025 Q4 EARNINGS PRESENTATION March 12, 2026 1 Forward-looking ...