NACCO Industries, Inc.

NACCO Industries, Inc. (NACCO) and its wholly owned subsidiary, NACCO Natural Resources Corporation, deliver aggregates, minerals, reliable fuels, and environmental solutions through a portfolio of businesses. The company operates under three reportable business segments: Utility Coal Mining, Contract Mining, and Minerals and Royalties. The Utility Coal Mining segment, managed by North American Coal, operates surface coal mines that are exclusive, long-term fuel providers for power generation companies. The Contract Mining segment, operated by North American Mining, provides a broad range of specialized, long-term contract mining services. The Minerals and Royalties segment, which includes the Catapult Mineral Partners business, acquires and promotes the development of mineral and royalty interests and other related investments. In addition to these reportable segments, NACCO operates other businesses that complement existing operations. Mitigation Resources of North America provides natural resource restoration and reclamation services, including stream and wetland mitigation solutions. ReGen Resources is developing new power generation resources. The company also has items not directly attributable to an operating segment, primarily administrative costs related to public company reporting requirements, management and board compensation, financial results of developing businesses, and Bellaire Corporation. Bellaire manages long-term liabilities from former Eastern U.S. underground mining activities. In 2025, the company changed the names of its reportable segments; the Utility Coal Mining, Contract Mining, and Minerals and Royalties segments were formerly the Coal Mining, North American Mining, and Minerals Management segments, respectively. There were no changes to the composition or historical reporting of each segment.