North American Construction Group Ltd. ('NACG') (TSX: NOA/NYSE:NOA) today announced results for the fourth quarter and year ended December 31, 2019.

NACG Chairman and CEO, Martin Ferron, commented: 'We entered 2019 with the expectation to achieve adjusted EBITDA of $160 million and adjusted EPS of $1.60 and so we are delighted to have exceeded these stretch targets, despite many challenges. We successfully integrated the two significant acquisitions made in late 2018 and overcame the negative impacts of the imposed Alberta oil production curtailment program, together with an early spring break up and an extremely wet August.' Mr. Ferron added 'Early in 2020, we remain in solid growth mode with expectations of more than 15% improvements in both adjusted EBITDA and EPS, with the exciting dual targets of $200 million and $2.00 respectively, firmly within our reach. Also, importantly we anticipate that this year will be marked by strong cash flow generation and further diversification by natural resource, customer and geography.'

Forward-Looking Information

The information provided in this release contains forward-looking statements. Forward-looking statements include statements preceded by, followed by or that include the words 'anticipate', 'believe', 'expect', 'should' or similar expressions. Forward looking statements include the statements that we expect more than 15.0% improvements in both adjusted EBITDA and EPS in 2020, with targets of $200 million and $2.00 respectively and that we anticipate strong cash flow generation and further diversification by natural resource, customer and geography in 2020. The material factors or assumptions used to develop the above forward-looking statements include, and the risks and uncertainties to which such forward-looking statements are subject, are highlighted in the MD&A for the quarter and year ended December 31, 2019. Actual results could differ materially from those contemplated by such forward-looking statements because of any number of factors and uncertainties, many of which are beyond NACG's control. Undue reliance should not be placed upon forward-looking statements and NACG undertakes no obligation, other than those required by applicable law, to update or revise those statements. For more complete information about NACG, please read our disclosure documents filed with the SEC and the CSA.

About the Company

North American Construction Group Ltd. (www.nacg.ca) is one of Canada's largest providers of heavy civil construction and mining contractors. For more than 65 years, NACG has provided services to large oil, natural gas and resource companies

Contact:

Tel: (780) 948-2009

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