Form 8-K/A

8-K/A — Orion Group Holdings Inc

Accession: 0001402829-26-000049

Filed: 2026-08-04

Period: 2026-07-28

CIK: 0001402829

SIC: 1600 (HEAVY CONSTRUCTION OTHER THAN BUILDING CONST - CONTRACTORS)

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K/A — orn-20260728x8ka.htm (Primary)

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8-K/A

8-K/A (Primary)

Filename: orn-20260728x8ka.htm · Sequence: 1

ORION GROUP HOLDINGS, INC._July 28, 2026

0001402829false00014028292026-07-282026-07-28

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

Amendment No. 1

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 28, 2026

ORION GROUP HOLDINGS, INC.

(Exact name of Registrant as specified in its charter)

Delaware

1-33891

26-0097459

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification Number)

2940 Riverby Road, Suite 400

Houston, Texas 77020

(Address of principal executive offices)

(713) 852-6500

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Title of Each Class

Trading Symbol(s)

Name of Each Exchange

on Which Registered

Common stock, $0.01 par value per share

ORN

The New York Stock Exchange

Common stock, $0.01 par value per share

ORN

NYSE Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Explanatory Note

This Amendment No. 1 to the Current Report on Form 8-K filed on July 29, 2026 (the “Original Form 8-K”) is being filed solely to update slide 17 of the pipeline presentation. The timing categories on that slide have been revised from “2H2026,” “1H2027” and “Beyond” to “2H2026,” “FY2027” and “Beyond.” This revision is intended solely to align the presentation with calendar-year periods. Except as described herein, no other material changes have been made to the Original Form 8-K.

Item 7.01 Regulation FD Disclosure.

On July 29, 2026, the Company posted the second quarter 2026 investor presentation to its website. The presentation is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. All information included in the presentation is presented as of the dates indicated, and the Company does not assume any obligation to correct or update such information in the future. In addition, the Company disclaims any inferences regarding the materiality of such information that may arise as a result of it furnishing such information under Item 7.01 of this Current Report on Form 8-K.

The information contained in this Item 7.01, including Exhibit 99.2 attached hereto, is being furnished and shall not be deemed “filed” for any purpose, and shall not be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

Description

99.2

Investor Presentation, dated July 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

EXHIBIT INDEX

Exhibit No.

Description

99.2

Investor Presentation, dated July 2026.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Orion Group Holdings, Inc.

Dated: August 4, 2026

By:

/s/ Travis J. Boone

President and Chief Executive Officer

EX-99.2

Filename: orn-20260728xex99d2.htm · Sequence: 2

Exhibit 99.2

MARINE | CONCRETE | ENGINEERING & CONSULTING

Investor Presentation

July 2026

DISCLAIMER

This presentation contains, and the officers and directors of the Company may from time to time make, statements that

are considered forward looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange

Act of 1934. These forward-looking statements are subject to a number of risks and uncertainties, many of which are

beyond our control, which may include statements about: our business strategy; our financial strategy; our industry

outlook; and our expected margin growth; our pipeline of opportunity; the expected benefits, results, growth and

integration of our acquisition of J.E. McAmis; and our plans, objectives, expectations, forecasts, outlook and intentions. All

of these types of statements, other than statements of historical fact included in this presentation, are forward-looking

statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,”

“should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,”

“continue,” the negative of such terms or other comparable terminology. The forward-looking statements contained in this

presentation are largely based on our expectations, which reflect estimates and assumptions made by our management.

These estimates and assumptions reflect our best judgment based on currently known market conditions and other

factors. Although we believe such estimates and assumptions to be reasonable, they are inherently uncertain and involve a

number of risks and uncertainties that are beyond our control. In addition, management’s assumptions about future

events may prove to be inaccurate. Management cautions all readers that the forward-looking statements contained in this

presentation are not guarantees of future performance, and we cannot assure any reader that such statements will be

realized or the forward-looking events and circumstances will occur. Actual results may differ materially from those

anticipated or implied in the forward-looking statements due to factors listed in the “Risk Factors” section in our filings with

the U.S. Securities and Exchange Commission and elsewhere in those filings. Additional factors or risks that we currently

deem immaterial, that are not presently known to us or that arise in the future could also cause our actual results to differ

materially from our expected results. Given these uncertainties, investors are cautioned that many of the assumptions

upon which our forward-looking statements are based are likely to change after the date the forward-looking statements

are made. The forward-looking statements speak only as of the date made, and we undertake no obligation to publicly

update or revise any forward-looking statements for any reason, whether as a result of new information, future events or

developments, changed circumstances, or otherwise, notwithstanding any changes in our assumptions, changes in

business plans, actual experience or other changes. These cautionary statements qualify all forward-looking statements

attributable to us or persons acting on our behalf. This presentation may contain the financial measures: adjusted net

income, EBITDA, adjusted EBITDA, and adjusted EPS, which are not calculated in accordance with U.S. GAAP. If presented,

a reconciliation of the non-GAAP financial measures to the most directly comparable GAAP financial measure will be

provided in the Appendix to this presentation.

AT A GLANCE Orion is a leading specialty construction company focused

on mission-critical projects on, over, and under the water

KEY STATISTICS

$852M

2025 Revenue

$45M

2025 Adj. EBITDA

$722M

June 2026 Backlog

~2,000

Employees

Marine

Comprehensive engineering,

construction, jetty &

breakwater construction,

dredging and specialty services

SERVICES

Concrete

Construction services for

commercial, structural, high-rise residential and industrial

SAFETY RECORD AND RECOGNITIONS

$900M - $950M

2026 Revenue Guidance

$50M - $54M

2026 Adj. EBITDA Guidance

World-class safety record

2025 Lost Time Incident Rate

(LTIR): 0.13 vs. industry

average of 2.3

Recognitions

• #2 in Marine Ports (ENR) - 2025

• #15 in Concrete (ENR) - 2025

• NASA Causeway: 2025 ENR

Best Project in the Southeast

• CEO Travis Boone named EY

Entrepreneur Of The Year®

2025 Finalist

ORION INVESTMENT APPEALS

Mission critical specialty construction provider with

sustainable competitive advantages 1

Poised to benefit from multiple powerful demand

drivers and a robust, growing $27B pipeline 2

Clear, disciplined strategy built on strengthened

foundation to drive increased value creation 3

Strong balance sheet that provides flexibility for

strategic investment

Experienced management team focused on strategy,

execution and growth

High Barriers to Entry

• Jones Act prohibits foreign competition in the U.S.

marine market

• Marine specialty equipment is unique and requires

significant upfront investment to enter the market

• Orion owns 1000+ pieces of specialty equipment

with a replacement value of $600M

• Legacy of high customer satisfaction on complex

concrete projects

• Long-standing, deep customer relationships

Why We Win

MISSION-CRITICAL SPECIALTY CONSTRUCTION PROVIDER

WITH COMPETITIVE ADVANTAGES

• Over 100 years of marine and civil engineering experience

• Over 40 years of concrete construction expertise for a

variety of industries

• World-class safety record

• Excellent reputation for delivering on time, on budget,

with quality

• Creative problem solver leveraging engineering group to

deliver custom solutions

• High-caliber leadership team and skilled workforce driving

disciplined execution and growth

Opportunity Expansion

• Ability to pursue larger, more

complex projects

• Expanded site civil earthwork

capabilities

• Deep relationships with strategic

customers

• J.E. McAmis add additional

marine construction capabilities

and West Coast presence

Investor Value

POSITIONED TO BENEFIT FROM DURABLE, LONG-TERM

INFRASTRUCTURE INVESTMENT TRENDS

Long-term demand. Proven capabilities. Sustainable growth.

Industry Demand

• Port and transportation

infrastructure modernization

• Defense readiness and

national security

• AI and cloud infrastructure

investment

• Supply chain resiliency and

manufacturing reshoring

• Coastal resilience & water

infrastructure

• Access to larger, more

complex, high value projects

• High barriers to entry support

competitive positioning

• Greater visibility through

durable backlog

• Opportunities for margin

expansion

• Sustainable shareholder value

creation

MASSIVE U.S. NAVY OPPORTUNITY IN THE PACIFIC

• U.S. Navy is procuring Multiple Award

Construction Contracts for many billions

in infrastructure projects throughout the

Pacific

• Scope includes new facilities,

repair/renovation and upgrades to

existing facilities, including

wharves/piers, dredging, aprons, and

• Orion (with our partners) was selected

on several MACC1 contracts, allowing

ORN to compete on future task orders,

limiting competition landscape

Orion anticipates U.S. Navy funding for Pacific Deterrence and shipyard renovations to accelerate and

continue for several years

1. MACC, or ‘Multiple Award Construction Contract’ is Indefinite-Delivery/Indefinite-Quantity (IDIQ) vehicle used by NAVFAC (Naval Facilities Engineering Systems Command) to award construction projects—such as waterfront work,

piers, dredging support, facilities upgrades, utilities, etc.—to a pool of pre-qualified contractors.

• Strategic, accretive M&A

Criteria:

• Augment, add or enhance a

capability

• Strategic SMEs or equipment

• Geographic expansion

• Disciplined valuation

• Earnings accretive

• Capitalize on long-term demand

across marine infrastructure and

defense modernization and AI

infrastructure

• Win larger, higher-value projects

with expanded capabilities and

deep customer relationships

CLEAR, DISCIPLINED STRATEGY BUILT ON A STRENGTHENED FOUNDATION

TO DRIVE GROWTH

• Expand geographically and into

adjacent market offerings

• Leverage an investment-light

approach to geographic

expansion through strong

client/partner relationships

Organic Growth

Expansion

Geographic

Expansion

Disciplined

Operational

Foundation

Strategic

Acquisitions

• Prioritize high-quality

projects at healthy margins

• Execute with predictable

excellence

• Recruit, develop, and retain

highly-skilled talent

• Leverage technology to drive

scale and efficiency

Deploy capital to drive profitable organic growth

Maintain leverage ratio <2.5x

Capitalize on strategic opportunities

Structure and execute to maximize long-term

shareholder value

Dec 2030

Senior Credit Facility

Maturity

a) Net Leverage Ratio calculated as Total Debt less Cash, divided by TTM Adjusted EBITDA

OPTIMIZING CAPITAL DEPLOYMENT FOR FUTURE GROWTH AND

SHAREHOLDER VALUE

Capital Deployment Priorities

2.3x

Net Leverage as of

June 30, 2026(a)

Heavy Civil | Jetty & Breakwater | Marine | Environmental

• 50 years of experience delivering Federal heavy civil construction--

recognized as jetty construction experts and “go-to” provider in harsh

environments

• Extends and strengthens geographic footprint in Washington, Oregon,

Canada, Florida, Alaska, and Hawaii

• Augments Orion’s equipment fleet with strategic, high-value marine

assets, including multiple Jones Act Vessels

• High cultural and values alignment

• Consideration paid of $60M, plus additional contingent consideration;

expected to be accretive to adj. EBITDA and margin

• Closed February 3, 2026

Acquisition of J.E. MCAMIS,

Strengthening Marine Capabilities

EXPERIENCED MANAGEMENT TEAM

FOCUSED ON GROWTH AND FINANCIAL PERFORMANCE

Travis Boone, PE

Chief Executive Officer

• Transformational leader with significant leadership and

management experience across the civil, utility / pipeline

and commercial building engineering and construction

industries

• Prior to joining Orion, served as Regional Chief Executive

of AECOM (NYSE:ACM)

Travis Boone, PE

Chief Executive Officer

Years of Experience

• Multi-disciplinary finance leader across accounting, tax,

FP&A, treasury, financial systems, investor relations, and

government compliance.

• Further experience in mergers, acquisitions and financial

transactions

• Former CAO of KBR, Inc. (NYSE:KBR) and previously held

leadership positions within KBR finance organization

Alison Vasquez

Chief Financial Officer

Years of Experience

• Experience spans global legal, compliance, risk

management and oversight across multiple industries

• Further experience in corporate and securities law, M&A,

corporate governance, legal operations, compliance and

contract management

• Previous roles have included GC of Newpark Resources

and Bristow Group and executive leadership at Transocean

Chip Earle

General Counsel

Years of Experience

• Senior Vice President of Strategy & Growth since July 2023

• Experience spans project development, business

development leadership, organizational efficiency and

innovative & alternative delivery

• Prior to joining Orion, held leadership positions at AECOM,

most notably as VP of Business Development for ten years

Alan Eckman

Senior Vice President,

Strategy & Growth

Years of Experience

• SVP of Operations since 2019

• Prior experience in implementing cost savings strategies

and project forecasting / controls improvements

• Has held multiple construction, project management

positions with companies including Kiewit and Zachry

Construction

Ardell Allred

Executive Vice President,

Concrete

Years of Experience

• Most recently SVP at Texas Sterling Construction

• Executive-level experience in restructuring, negotiation and

resolution as well as division level management with profit and

loss responsibilities

• Previously held construction and project management

positions at companies including Kiewit, Zachry Construction

Scott Cromack

Executive Vice President,

Marine

Years of Experience

MISSION-CRITICAL MARINE INFRASTRUCTURE PLATFORM ALIGNED WITH

LONG-TERM DEFENSE AND PORT INVESTMENT

Construction

Dredging

Specialty

General construction, restoration, maintenance & repair of ports

and docks, jetty & breakwater, marine pipelines, marine

transportation facilities, bridges and environmental structures

Removal of soil, sand and rock from waterways to enhance and

preserve navigability

Design, salvage, demolition, towing and diving as well as

underwater inspection, excavation, repair and engineering

$545M $80M 14.7% 2025 Revenue 2025 Adj. EBITDA 2025 Adj. EBITDA

Margin

Construction solutions spanning port expansion & maintenance, jetty & breakwater,

bridge, causeway and marine infrastructure construction services to customers across

diversified end markets in the U.S., Pacific Islands, Western Canada, and Caribbean

$120M Grand

Bahama Shipyard

contract: building

the first floating dry

docks in Atlantic to

lift the largest

cruise ships in the

world

$460M U.S. Navy

contract to build

submarine dry dock

at Pearl Harbor

2025 Results

Data centers, office buildings and complexes, tilt wall

warehouses, airport facilities, medical facilities, retail

sites, cold storage, and education facilities

High-rise buildings, complexes, and stadiums

Commercial

Structural

Wastewater treatment, tank foundations, site work, and

terminals and manufacturing sites Industrial

Turnkey concrete construction services including place and finish, site work,

layout, forming and rebar for clients across manufacturing, data center,

institutional, industrial, commercial construction, and multi-family construction

end markets with hubs in Texas, Florida, and Arizona

DIVERSIFIED CONCRETE CAPABILITIES ALIGNED WITH DATA CENTER, INDUSTRIAL

AND COMMERCIAL GROWTH

Data centers

and campuses

High Rise

Buildings

50+

2025 Results

$307M $12M 3.9% 2025 Revenue 2025 Adj. EBITDA 2025 Adj. EBITDA

Margin

FINANCIAL PERFORMANCE

$17

$23 $24

$42

2021 2022 2023 2024 2025 2026E

Adjusted EBITDA

$45

$52

HISTORICAL ANNUAL FINANCIAL SUMMARY ($ in millions)

$601

$748 $712

$796

$852

$925

2021 2022 2023 2024 2025 2026E

Revenue

2021 Guidance

Midpoint

Guidance

Midpoint

• 2026 Revenue guidance midpoint signals expected growth

• 2026 Revenue guidance represents 54% growth since 2021

• 9% CAGR from 2021-2026

• 2026 Adjusted EBITDA guidance more than triples from 2021

• Adjusted EBITDA guidance represents 25% CAGR from 2021-2026

SECOND QUARTER 2026 RESULTS

Q2 2026 Q2 2025

Revenue $222M $205M

GAAP Net (Loss) Income

per share ($0.10) $0.02

Adjusted EBITDA $8M $11M

Adjusted EPS $0.02 $0.07

Adjusted EBITDA Margin 3.5% 5.3%

RECORD $27B OPPORTUNITY PIPELINE TO SUPPORT FUTURE GROWTH

$6B

$8B

$13B

$0-$50M $50M-$200M $200M+

Total Pipeline by Anticipated Opportunity Size

70%

30%

Total Pipeline by Sector

Public

Private

Total Pipeline by Segment

Marine

Concrete 12%

88%

$5B

$11B $11B

2H2026 FY2027 Beyond

Total Pipeline by Anticipated Date

FISCAL YEAR 2026 GUIDANCE (AS OF JULY 28, 2026)

FY2026

Guidance

Annual Growth at

Midpoint

Revenue $900 to $950 9%

Adjusted EBITDA $50 to $54 15%

Adjusted EPS $0.23 to $0.30 6%

Capex $25 to $35 __

Table in millions, except EPS and percentage changes

100

200

300

400

500

600

700

800

900

1000

New

management

joined Orion

RECENT EVOLUTION OF BACKLOG

BACKLOG

($ in millions)

RECENT WINS

USVI Dredging Project USACE Sargent Beach Jetty and

Beach Renourishment Project

Bridge Replacement Terminal Wharf Expansion Contract in Texas

APPENDIX

VALUED PARTNER TO HIGHLY DIVERSIFIED CUSTOMER BASE

ENERGY DATA CENTERS GOVERNMENT OTHER

Long-tenured relationships with customers across federal, state & local government and private enterprise

NON-GAAP SUPPLEMENTAL INFORMATION

Orion Group Holdings, Inc. and Subsidiaries

Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations

(In Thousands, Except Margin Data)

(Unaudited)

Three Months Ended Six Months Ended

June 30, June 30,

2026 2025 2026 2025

Net (loss) income $ (4,145) $ 841 $ 542 $ (573)

Income tax expense (benefit) 474 (212) (6,378) (72)

Interest expense, net 2,449 2,827 3,893 4,968

Depreciation and amortization 7,004 5,231 13,391 10,634

EBITDA(1) 5,782 8,687 11,448 14,957

Non-cash share-based compensation 2,006 1,519 3,393 2,642

ERP implementation 54 225 135 830

Severance — 547 — 577

Process improvement initiatives — — — 138

Acquisition and integration costs 21 — 1,634 —

Adjusted EBITDA(2) $ 7,863 $ 10,978 $ 16,610 $ 19,144

Adjusted EBITDA margin(2) 3.5 % 5.3 % 3.8 % 4.9 %

(1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.

(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation,

severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure

calculated by dividing Adjusted EBITDA by contract revenues.

Orion Group Holdings, Inc. and Subsidiaries

Reconciliation of Adjusted Net (Loss) Income

(In Thousands Except Per Share Information)

(Unaudited)

Three Months Ended Six Months Ended

June 30, June 30,

2026 2025 2026 2025

Net (loss) income $ (4,145) $ 841 $ 542 $ (573)

Adjusting items and the tax effects:

Non-cash share-based compensation 2,006 1,519 3,393 2,642

Enterprise resource planning (“ERP”) implementation 54 225 135 830

Severance — 547 — 577

Process improvement initiatives — — — 138

Acquisition and integration costs 21 — 1,634 —

Amortization of purchased intangibles 395 — 785 —

Tax rate of 23% applied to adjusting items(1) (570) (527) (1,368) (963)

Reversal of the impact of valuation allowances 3,208 76 (2,187) 290

Adjusted net income $ 969 $ 2,681 $ 2,934 $ 2,941

Adjusted EPS $ 0.02 $ 0.07 $ 0.07 $ 0.07

(1) Items are taxed discretely using the Company's blended tax rate.

NON-GAAP SUPPLEMENTAL INFORMATION

(1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.

(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation,

severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure

calculated by dividing Adjusted EBITDA by contract revenues.

Orion Group Holdings, Inc. and Subsidiaries

Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations

(In Thousands, Except Margin Data)

(Unaudited)

NON-GAAP SUPPLEMENTAL INFORMATION

(1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.

(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, ERP implementation,

severance, process improvement initiatives and acquisition and integration costs. Adjusted EBITDA margin is a non-GAAP measure

calculated by dividing Adjusted EBITDA by contract revenues.

Orion Group Holdings, Inc. and Subsidiaries

Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations

(In Thousands, Except Margin Data)

(Unaudited)

NON-GAAP SUPPLEMENTAL INFORMATION

Orion Group Holdings, Inc. and Subsidiaries

Adjusted EBITDA and Adjusted EBITDA Margin Reconciliations

(In Thousands, Except Margin Data)

(Unaudited)

Year Ending December 31,

2021 2022 2023 2024 2025

Net (loss) income $ (14,560) $ (12,612) $ (17,875) $ (1,644) $ 2,488

Income tax expense 502 429 330 348 419

Interest expense, net 4,940 4,352 11,556 13,174 8,223

Depreciation and amortization 25,430 24,057 23,878 22,765 22,262

EBITDA(1) 16,312 16,226 17,889 34,643 33,392

Non-cash share-based compensation 2,401 2,754 2,042 4,009 5,450

Net gain on Port Lavaca South Yard property sale — — (5,202) — —

ERP implementation 4,925 1,867 1,378 2,129 1,367

Professional fees related to management

transition — 1,118 — — —

Severance 96 948 809 104 620

Intangible asset impairment loss — — 6,890 — —

Process improvement initiatives — — — 982 138

Acquisition and integration — — — — 494

Loss on extinguishment of debt — — — — 3,777

Net gain on Tampa property sale (6,435) — — — —

Adjusted EBITDA(2) $ 17,299 $ 22,913 $ 23,806 $ 41,867 $ 45,238

Adjusted EBITDA margin(2) 2.9 % 3.1 % 5.3 % 5.3 % 5.3 %

(1) EBITDA is a non-GAAP measure that represents earnings before interest, taxes, depreciation and amortization.

(2) Adjusted EBITDA is a non-GAAP measure that represents EBITDA adjusted for non-cash share-based compensation, net gain on Port Lavaca

South Yard property sale, ERP implementation, professional fees related to management transition, severance, intangible impairment loss,

process improvement initiatives, acquisition and integration, loss on extinguishment of debt and net gain on Tampa property sale.

Adjusted EBITDA margin is a non-GAAP measure calculated by dividing Adjusted EBITDA by contract revenues.

NON-GAAP SUPPLEMENTAL INFORMATION

Orion Group Holdings, Inc. and Subsidiaries

Guidance – Adjusted EPS Reconciliation

(In Thousands except per share information)

(Unaudited)

Year Ending

December 31, 2026

Low Estimate High Estimate

Net income $ 6,600 $ 10,600

Adjusting items and the tax effects:

Non-cash share-based compensation 7,300 7,300

ERP implementation 1,100 1,100

Acquisition and integration costs 1,600 1,600

Amortization of purchased intangibles 2,000 2,000

Tax rate of 23% applied to adjusting items(1) (2,800) (2,800)

Reversal of the impact of valuation allowances (6,700) (7,600)

Adjusted net income(2) $ 9,100 $ 12,200

Adjusted EPS(2) $ 0.23 $ 0.30

(1) Items are taxed discretely using the Company's blended tax rate.

(2) Adjusted net income and Adjusted EPS are non-GAAP measures that represent net income adjusted for share-based compensation,

ERP implementation, acquisition and integration costs and amortization of purchased intangibles.

NON-GAAP SUPPLEMENTAL INFORMATION

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Document and Entity Information

Jul. 28, 2026

Document and Entity Information [Abstract]

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Document Period End Date

Jul. 28, 2026

Entity File Number

1-33891

Entity Registrant Name

ORION GROUP HOLDINGS, INC.

Entity Incorporation, State or Country Code

Entity Tax Identification Number

26-0097459

Entity Address, Address Line One

2940 Riverby Road,

Entity Address, Adress Line Two

Suite 400

Entity Address, City or Town

Houston

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77020

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713

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852-6500

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ORN

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