Nacco Industries, Inc. · NYSE:NC
Nacco Industries — Investor Presentation (August 2026)
27 slides from Nacco Industries's investor presentation, August 2026
Slide 1: Compounding Long-Term Value in Natural Resources
COMPOUNDING LONG-TERM VALUE IN NATURAL RESOURCES Investor Presentation August 2026 August 2026 1
Slide 2: Forward Looking Information Disclosures
Forward Looking Information Disclosures This presentation includes forward-looking statements subject to important risks and uncertainties. It may also contain financial measures that are not in conformance with accounting principles generally accepted in the United States of America (GAAP). The for
Slide 3: The NACCO Legacy: 110+ Years of Value Creation
The NACCO Legacy: 110+ Years of Value Creation ✓ Multi-decade customer relationships (40+ years) ✓ Proven ability to adapt through market cycles DIVERSIFIED PLATFORM ✓ Evolution from single- industry focus to 2015 2018 Natural Resource Mitigation Resources diversified platform diversification formed
Slide 4: NACCO is Strategically Positioned to Deliver Growth Over Long-Term Investment Horizons
NACCO is Strategically Positioned to Deliver Growth Over Long-Term Investment Horizons 1 We are a Diversified Natural Resource Platform with Multiple Value Creation Vectors and Minimal Competition or Peers Installed Base 2 We are in Early Stages of Harvesting Returns from our Recent Investment Expec
Slide 5: Capturing Dependable Returns Through A Proven Business Model
Capturing Dependable Returns Through A Proven Business Model ✓ Long-Term Relationships/Investments ✓ Integrated Services Align Objectives with Customers ✓ Predictable Income and Cash Flow ✓ Minimal Maintenance CapEx Requirements Additional Returns from Fee-Based Services, with No Investment Required
Slide 6: Our Diversified Natural Resource Platforms Drive Investment Opportunities and Growth
Our Diversified Natural Resource Platforms Drive Investment Opportunities and Growth Mitigation Resources North American Coal ® Utility Coal Mining Contract Mining Minerals & Royalties Ecological Solutions Stable Cash Geographic & Mineral Scalable Acquisition Emerging Growth Generation Expansion (R)
Slide 7: Building on Historical Strength to Deliver Growth and Higher Returns
Building on Historical Strength to Deliver Growth and Higher Returns More Long-term Projects and Customers New Project Criteria • Long-term Contracts • Long-term Relationships Recurring Cash Expanding Core Compounding • Long-term Investments Flow Growth Competencies EBITDA Effect • Minimal Maintenan
Slide 8: Compounding Effect
Compounding Effect Exponential Growth as New Projects Layer Onto A Recurring Base Each year, we add new long-term projects, which enhance already strong recurring cash flows • Shorter-term value creation projects supplement Grows with Inflation contracts with terms ranging from 3 to 20+ years • Sele
Slide 9: Strategic Growth Platforms Contributing Profits
Strategic Growth Platforms Contributing Profits Contract Mining Minerals & Royalties Ecological Solutions Capital Efficiency Geographic and Mineral Platform Gaining Expected to Achieve Selective deployment to Expansion Accelerating Momentum Profitability in 2027 expertise-driven opportunities Multip
Slide 10: Our Balance Sheet Enables Strategic Flexibility
Our Balance Sheet Enables Strategic Flexibility Focused on Enhancing Liquidity. Reducing Debt. Investing with Discipline. • Robust, dependable cash $45.5M generation across diverse Cash business platforms • Strategic flexibility from strong $69.1M balance sheet and liquidity Amount Available Under •
Slide 11: NACCO is Strategically Positioned to Deliver Growth over Long-Term Investment Horizons
NACCO is Strategically Positioned to Deliver Growth over Long-Term Investment Horizons Strong, steady, dependable, We are not speculative. We A Different Kind Of Stock: 1 and uncorrelated to the tech- 2 are not cyclical. We are not 3 While others focus on heavy market — a true, U.S.- trend-dependent
Slide 12: Thank You
Thank You www.nacco.com Investor Presentation August 2026 12
Slide 13: Appendix
APPENDIX Investor Presentation August 2026 13
Slide 14: Business Platform Overview
BUSINESS PLATFORM OVERVIEW Investor Presentation August 2026 14
Slide 15: Evolution of Project Mix
Evolution of Project Mix The Compounding Machine Continues Platform Where We Were Where We Are Today Confidence/Status Level Unchanged to enhanced - New end markets Geographic and mineral expansion as Contract Mining the primary growth platform identified; dragline and Arizona quarry ✓ Enhanced cont
Slide 16: A Re-Weighted Opportunity Set
A Re-Weighted Opportunity Set Contract Mining Selective NACCO’s Prior Timing of Solar and Minerals & Capital Opportunity Mitigation Compounding Removed Royalties Steady Mix Projects Allocation Algorithm to Better What Has Changed What Has Not Changed How to Measure Us • Changing market and regulator
Slide 17: Utility Coal Mining – North Dakota
Utility Coal Mining – North Dakota North American Coal Stable Cash Generation Platform Years Active: • Long-term customer relationships Coteau* Falkirk Coyote (40+ years average) 1983 - 2037 1978 - Ongoing 2016 - 2040 • Exclusive mine-mouth supplier to adjacent power plants or synfuels plant • Embed
Slide 18: Utility Coal – Mississippi Lignite Mining Company (MLMC)
Utility Coal – Mississippi Lignite Mining Company (MLMC) Performance influenced by customer conditions Key Facts: Current Focus Areas: Takeaways: • Exclusive lignite supplier to Red Hills • Red Hills Plant performance • Results can be uneven quarter to Power Plant through April 2032 • TVA Dispatch a
Slide 19: Contract Mining
Contract Mining Proven Model with Expansion Opportunity 22 • Long-term contracts create exponential growth through compounding Mining Locations • Established relationships with several of the top 10 U.S. aggregates producers +200% • Embedded within customer operations 10-Year Growth: • Contract mine
Slide 20: Minerals and Royalties
Minerals and Royalties ® Scalable Investment Platform ~$105 Million ~64,400 Acres • Long-term assets with recurring cash flows Capital Deployed since 2020 Net Royalty Acres • Scaled platform enables low-cost repeatability 2,451 / 21.6 • Upside: asset base includes substantial, Gross/Net Well Count y
Slide 21: Oil & Gas Portfolio Diversification
Oil & Gas Portfolio Diversification ® 4% 1% 4% Basin Legend Appalachia 8% Gulf Coast Midcontinent 1 32% 2019 2026 Permian Net Acres 31% Net Acres Rockies by Basin by Basin Williston 64% 56% Other Reserves Owned Net Gross Net Gross 20261 Acreage Gross Developed Undeveloped Acres 56,930 45,717 Acres 6
Slide 22: Ecological Solutions
Mitigation Resources Ecological Solutions Leveraging Reclamation Expertise for Growth 3 Mitigation Projects in 2019 13 Mitigation Projects in 2026 * • Expanding project portfolio with diversified revenue streams from short-term restoration and long-term mitigation projects - Short-term: Reclaiming d
Slide 23: Our Fundamental Stewardship Commitment
Our Fundamental Stewardship Commitment Safety People Community Environment Safety is our highest priority Employees fuel our success Long-term community Environmental excellence is and a core focus of our and are encouraged to pursue investments make an impact at our core. We are experts in operatio
Slide 24: Non-GAAP Disclosure
Non-GAAP Disclosure This presentation contains non-GAAP financial measures. Included in this presentation are reconciliations of these non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with U.S. generally accepted accounting principles ("GAAP").
Slide 25: Non-GAAP Reconciliation Consolidated Adjusted EBITDA
Non-GAAP Reconciliation Consolidated Adjusted EBITDA ($ in thousands) TTM ended 6/30/26 TTM ended 6/30/25 Net Income $17,287 $31,359 Asset impairment charges 11,984 - Pension settlement charge 7,804 - Income tax benefit (4,610) (2,393) Interest expense 5,314 6,862 Interest income (2,645) (3,898) Dep
Slide 26: Non-GAAP Reconciliation Segment Adjusted EBITDA
Non-GAAP Reconciliation Segment Adjusted EBITDA Utility Contract Minerals and Unallocated ($ in thousands) Eliminations Consolidated Coal Mining Mining Royalties Items TTM ended 6/30/2026 Operating Profit (Loss) $25,846 $10,540 $30,480 $(43,670) $(97) $23,099 Depreciation, Depletion, 9,381 9,726 3,6
Slide 27: Investor Presentation August 2026
Investor Presentation August 2026 27
NACCO Industries — Investor Presentation (August 2026) on 6ix