Great Lakes Dredge & Dock (GLDD) 8-K Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, the Private Securities

Great Lakes Dredge & Dock

Investor Presentation

Experience & Leadership

November 2010

Exhibit 99.1

Experience & Leadership

Safe Harbor

This presentation includes “forward-looking”

statements within the meaning of Section 27A of the

Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, the Private Securities

Litigation Reform Act of 1995 or in releases made by the SEC, all as may be amended from time to

time.  Such statements include declarations regarding the intent, belief, or current expectation of

the Company and its management.  The Company cautions that any such forward-looking

statements are not guarantees of future performance, and involve

a number of risks, assumptions

and uncertainties that could cause actual results of the Company

and its subsidiaries, or industry

results, to differ materially from those expressed or implied by

any forward-looking statements

contained herein, including, but not limited to, as a result of the factors, risks and uncertainties

described in other securities filings of the Company made with the SEC, such as the Company’s

most recent Report on Form 10-K.  You should not place undue reliance upon these forward-

looking statements.  Forward-looking statements provided herein are made only as of the date

hereof or as a specified date herein and the Company does not have or undertake any obligation to

update or revise them, unless required by law.

November 2010

2

Experience & Leadership

Who is Great Lakes Dredge & Dock Corporation?

November 2010

3

Avalon & Sea Isle Beach Nourishment

Oresund

Bridge –

International land reclamation

Jacksonville, FL Harbor Deepening

Hunters Point Waterfront Park

Dredge Florida Cutterhead

Experience & Leadership

Great Lakes Highlights

•

Significant growth since 2006

•

Revenue -

three-year CAGR of 13.5%

•

EBITDA -

three-year CAGR of 13.8%

•

Significant investment in PP&E of $125M since 2006

•

Purchased four dredging vessels in 2007 as well as built a piece

of

ancillary equipment

•

Currently upgrading dredge Ohio into world-class cutter suction

dredge

•

Decreased Net Debt / EBITDA from 6.4x at 12/31/05 to 2.4x at

12/31/09 (1.2x September 30, 2010)

•

Over $79M in cash on hand

•

Over $130M of availability on revolving credit facility

November 2010

4

Experience & Leadership

Executive Management

Experience & Leadership

November 2010

5

Experience & Leadership

New Executive Management Team

•

Jonathan Berger –

CEO

•

Member of our Board since December 2006

•

Former Managing Director and Co-head of Corporate Finance for

Navigant Consulting, Inc. and President of Navigant Capital

Advisors, LLC

•

Former partner at KPMG, LLP and past National Partner in charge of

Corporate Finance at KPMG

•

Bruce Biemeck –

President

and CFO

•

Member of our Board since December 2006

•

Senior Vice President, Chief Financial Officer and Treasurer of Great

Lakes from 1991 to 1999

November 2010

6

Experience & Leadership

Why Make the Change?

•

Inject new skills and discipline in management team

•

Increase efforts to drive top line growth

•

Address cyclicality of business

•

Develop and execute a corporate strategy

•

Enhance operating performance

•

Reinvigorate management

Doug

Mackie

remaining

on

as

a

senior

advisor

will

help

execute

a

transition

with

minimal disruption to operations

November 2010

7

Experience & Leadership

Strategy

•

New Strategy (in formulation stage)

•

Must develop a risk-based growth strategy

which takes advantage of our many strengths

•

Complex engineering

•

Maritime construction knowledge

•

Project management

•

Extensive and versatile fleet

•

Strong balance sheet

•

Areas to explore

•

Domestic dredging markets we do not

participate in

•

International dredging

•

Environmental services

•

Other maritime related business

•

Aggregate mining and sales

•

Specialty construction

November 2010

•

Historical Strategy (through Private Equity ownership)

•

Ride the cyclical wave of domestic dredging, pay down debt and opportunistically

take advantage of international markets

8

Experience & Leadership

Dredging

Experience & Leadership

November 2010

Innovative Civil Engineering Solutions Since 1890

9

Experience & Leadership

Domestic Dredging Market

November 2010

10

Experience & Leadership

Foreign Dredging Market

November 2010

11

Experience & Leadership

Dredging Overview

Deepening ports, land reclamation, and 

excavation of underwater trenches

Maintenance

Maintaining depth of shipping channels

November 2010

•

Army Corps of Engineers (Largest)

•

Port authorities

•

State and local governments

•

Foreign governments 

•

Prime contractors on turn-key projects

•

Private entities (e.g., oil companies, utilities)

Customers

Beach Nourishment

Creating and rebuilding beaches

Capital

12

Experience & Leadership

Large and Flexible Fleet in U.S and International Markets

Types of Dredges

Hydraulic

•

11 Vessels: 7 U.S., 4 Middle East

(10 U.S. flagged)

•

Including the only two large electric

cutterhead

dredges available in the

U.S. for environmentally sensitive

regions requiring lower emissions

Hopper

•

10 Vessels: 4 U.S., 5 Middle

East, 1 Brazil (4 U.S. flagged)

•

Highly mobile, able to operate in

rough waters

•

Little interference with other

ship traffic

Mechanical

•

5 Vessels: All U.S  (All U.S. flagged)

•

Operates one of two environmentally

friendly electric clamshell dredges in

the U.S.

•

Maneuverability in tight areas such

as docks and terminals

Estimate fleet replacement cost in excess of $1.5 billion in current market

November 2010

Dredge Texas at Boca Raton

Dredge Liberty Island at Melbourne

Beach

Dredge GL 55 at Upper Chesapeake

13

25 Material Transportation Barges and Over 160 Other Specialized Support Vessels

Experience & Leadership

Our Intellectual Property and Human Capital are a Competitive Advantage

November 2010

14

Experience & Leadership

Industry and Company Overview

November 2010

15

Experience & Leadership

Attractive Catalysts in the Dredging Market

•

Maintenance Dredging

•

Harbor Maintenance Trust Fund legislation passage could add $500M to the

Company’s bid market

•

Panama Canal expansion leads to U.S. port deepening

•

Coastal Restoration throughout Gulf Area

•

Levee repair/replacement throughout U.S.

November 2010

Bayou Dupont, LA

Coastal Restoration

Dredge California and GL 55 at Pass a Loutre

Coastal Restoration

16

Experience & Leadership

Capital

Berm construction off Louisiana coast

17

Experience & Leadership

(in millions)

Three Year Average

FY 2009

YTD 2010

Bid Market Size

$296

$310

$ 275

GLDD Revenue

$162

$203

$220

Domestic Dredging Industry Demand Drivers

Capital

•

U.S. ports 5'–10' shallower vs. foreign ports

•

Domestic port development required to

support larger, deeper draft ships

•

Long-term funding for wetland and coastal marshes

•

Other port development

Note: YTD data is as of September 30, 2010.

November 2010

Berm construction off Louisiana coast

18

Experience & Leadership

Beach Nourishment

Avalon & Sea Isle Beaches, NJ

19

Experience & Leadership

(in millions)

Three Year Average

FY 2009

YTD 2010

Bid Market Size

$151

$183

$ 38

GLDD Revenue

$

72

$

62

$

86

Domestic Dredging Industry Demand Drivers

Beach Nourishment

•

Storm activity/natural erosion

•

Growing population in coastal communities

•

22 of the 25 most densely populated U.S. counties are

coastal

•

Importance of beach assets to recreation and local tourism

industry

•

Anticipate robust market opportunities in next 12 months

November 2010

Note: YTD data is as of September 30, 2010.

Melbourne Beach

20

Experience & Leadership

Maintenance

Newburyport, MA

21

Experience & Leadership

(in millions)

Three Year Average

FY 2009

YTD 2010

Bid Market Size

$395

$645

$ 345

GLDD Revenue

$117

$175

$ 97

Domestic Dredging Industry Demand Drivers

Maintenance

•

Corps of Engineers’

goal is to reach 95% of U.S. port operating

capacity

•

Natural sedimentation and volatile weather

•

New capital projects increase need for ongoing maintenance

•

57% of 2009 domestic bid market was maintenance work

November 2010

Note: YTD data is as of September 30, 2010.

Dredge 54 at NYCT Berth

22

Experience & Leadership

International -

A Path for Future Growth

Reem

Island at Port of Natal, Brazil

23

Experience & Leadership

(in millions)

Three Year Average

FY 2009

YTD 2010

GLDD Revenue

$149

$134

$

60

Great Lakes is Well Positioned to Compete Globally

International

•

International projects tend to be larger/ longer duration vs. domestic

projects

•

Middle East has been a strong market historically, and is expected to

provide good opportunities in the future

•

Upgrade of the dredge Ohio expected to be completed by year end.

Will

allow us to meet future demand anticipated in Middle East

•

Deepening project in Brazil began in September

•

Strong market ahead in Brazil

November 2010

Note: YTD data is as of September 30, 2010.

Carolina at ASYR Shipyard, Bahrain

24

Experience & Leadership

Largest Provider of Dredging

28%

10%

8%

21%

33%

Foreign

Capital

Maintenance

Beach

Demolition

2009 REVENUE BY WORK TYPE

$622 million

8%

9%

47%

7%

29%

Great Lakes

Norfolk

Weeks

Manson

Other

2009 DOMESTIC DREDGING BID

MARKET SHARE

Domestic Bid Market: $1,137 million

29%

19%

16%

13%

23%

Foreign

Capital

Maintenance

Beach

Demolition

5 YEAR AVERAGE REVENUE BY

WORK TYPE

Average 5 Year Revenue: $515 million

9%

24%

5%

42%

20%

Great Lakes

Norfolk

Weeks

Manson

Other

5 YEAR AVERAGE DOMESTIC DREDGING

BID MARKET SHARE

Average 5 Year Bid Market: $793

November 2010

25

Experience & Leadership

(in millions)

Three Year Average

FY 2009

YTD 2010

Demolition Revenue

$

75

$

48

$

51

Demolition Services -

The Preferred Demolition Contractor in New England

NASDI and Yankee Environmental Services

•

Major U.S. provider of commercial and industrial demolition services; primarily

in New England

•

Purchased Yankee in 2009; able to offer removal of asbestos and hazardous

materials

•

Successfully gaining foothold in New York market over last year

•

Maintained over $50 million in backlog throughout 2010

•

Strong bonding capacity

November 2010

Note: YTD data is as of September 30, 2010.

Massachusetts Mental Health Hospital

26

Experience & Leadership

Financial Highlights

Experience & Leadership

November 2010

27

Experience & Leadership

Financial Performance

0

100

200

300

400

500

600

$700

2006

2007

2008

2009

Sept. 30,

2009

Sept. 30,

2010

Capital

Maintenance

Beach

Foreign

Demolition

$81.5

$64.0

$77.6

$55.9

$57.5

$52.6

12.3%

11.1%

9.5%

12.5%

15.8%

13.9%

(10)

10

30

50

70

2006

2007

2008

2009

Sept. 30,

2009

Sept. 30,

2010

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

Dredging

Demolition

% EBITDA Margin

ANNUAL REVENUE

3 year CAGR = 13.5%

ANNUAL EBITDA

(a)

3 year CAGR =

13.8%

(a)

EBITDA represents net income (loss), adjusted for net interest expense, income taxes, depreciation and amortization expense. Please see reconciliation of

Net Income to EBITDA at the end of this presentation.

Note: Great Lakes went public in December 2006

November 2010

($ in millions)

$426.0

$515.8

$586.9

$622.2

$461.7

$514.9

28

Experience & Leadership

Improved Financial Flexibility

$16.8

(b)

$12.7

$29.8

$111.0

(a)

$44.5

$25.7

0.0

20.0

40.0

60.0

80.0

100.0

$120.0

2005

2006

2007

2008

2009

September

30, 2010

Maintenance

Growth

6.4x

3.6x

3.3x

3.7x

2.4x

1.2x

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0x

2005

2006

2007

2008

2009

September

30, 2010

Net Debt / EBITDA

(a)

Growth capital expenditures during the year of 2007 includes the purchase of four vessels.

(b)

Includes $4.3m related to the upgrade of the dredge Ohio

CAPEX

LEVERAGE

November 2010

($ in millions)

29

Experience & Leadership

0

100

200

300

400

500

2006

2007

2008

2009

Sept. 30, 2010

Capital

Maintenance

Beach

Foreign

Demolition

Backlog

BY SEGMENT

November 2010

$276 (b)

$382

$385 (a)(b)

$360

$369

(a)

Foreign

backlog

at

December

31,

2008

has

been

adjusted

for

the

portion

of

the

Diyar

contract

that

became

an

option

pending

award

in

the

first

quarter

of

2009

(b)

Option

was

awarded

in

October

2010

but

not

included

in

September

30,

2010

backlog

($ in millions)

30

Experience & Leadership

Investment Highlights

•

Attractive near and long-term catalysts in U.S dredging market

•

Harbor Maintenance Trust Fund secures funding for long-term maintenance demand

•

Other sources of dredging demand include coastal restoration, port deepening and port development

and levee repair/replacement

•

Strong financial performance and improved financial flexibility

•

Revenue –

3 year CAGR 13.5%, EBITDA –

3 year CAGR 13.8%

•

EBITDA growth from $45.1 million in 2005 to $77.6 million in 2009 ($81.5m September 30, 2010 YTD)

•

Decreased Net Debt / EBITDA from 6.4x in 2005 to 2.4x in 2009 (1.2x at September 30, 2010)

•

International Presence

•

Only U.S. dredger with significant foreign presence

•

Flexible fleet enables repositioning of vessels as necessary

•

Demonstrated record of successful project completion never having failed to complete a project

•

Expanding demolition business

•

Opportunistic acquirer of dredging assets

November 2010

31

Experience & Leadership

Appendix

Experience & Leadership

November 2010

32

Experience & Leadership

Reconciliation of Net Income to EDITDA

November 2010

$81.5

26.0

18.1

9.6

$27.8

2010

$64.0

24.6

10.7

12.3

$16.4

2009

Nine Months

Ended Sept. 30

$52.6

25.1

1.0

24.3

$2.2

2006

Fiscal Year Ending December 31,

$57.5

26.5

6.4

17.5

$7.1

2007

$77.6

33.0

11.0

16.1

$17.5

2009

$55.9

30.1

3.8

17.0

$5.0

2008

Depreciation and Amortization

($ in millions)

Net Income Attributable to Great Lakes Dredge

& Dock Corporation

Interest Expense

Income Tax Expense

EBITDA

33

Experience & Leadership

0

20

40

60

80

100

120

140

12/31/2006

12/31/2007

12/31/2008

12/31/2009

11/11/2010

GLDD

ORN

STRL

GVA

Stock Performance

Initial Investment $100

*Note: ORN, STRL, and GVA were selected as GLDD’s

three closest peers

34

Experience & Leadership

Stock Performance

Initial Investment $100

40

50

60

70

80

90

100

110

120

130

140

12/31/2006

12/31/2007

12/31/2008

12/31/2009

11/11/2010

GLDD

Peers

NASDAQ

Russel 2K

35