Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 55

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 55
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1) |     | Payments During Last Fiscal Year 
                              ($) |
| J.C. Butler, Jr.        |     |     N/A (2) |     |                              N/A |     |                                  N/A |     |                              N/A |
| John D. Neumann         |     |     N/A (2) |     |                              N/A |     |                                  N/A |     |                              N/A |
| Carroll L. Dewing (3)   |     | Coteau Plan |     |                            25.92 |     |                             $469,300 |     |                               $0 |
| SERP                    |     |       25.92 |     |                          $31,408 |     |                                   $0 |     |                                  |

(1) The amounts shown were determined as of December 31, 2024, which is the measurement date used in the Company's financial statements for pension benefits. In determining the amounts shown, the following material assumptions were used for the plans:

• A discount rate of 5.56% for The Coteau Properties Company Pension Plan (the "Coteau Plan") and 5.39% for The North American Coal Corporation Supplemental Retirement Benefit Plan ("SERP");

• The Pre-2012 mortality table, projected generationally with scale MP2021 with no adjustments (Coteau Plan) and Pre-2012 mortality table, projected generationally with scale MP2021, with white collar adjustments (SERP); and

• The assumed retirement age for all plans is the earlier of (1) the plan's stated normal retirement age or (2) the earliest age at which retirement benefits are available without reduction for age, with no pre-retirement decrement.

(2) Messrs. Butler and Neumann never participated in any of our frozen pension plans.

(3) Mr. Dewing earned a pension benefit under the Coteau Plan from January 29, 1979 through December 31, 2004. He also earned a non-qualified pension benefit under the SERP. While his pension benefits were frozen on December 31, 2004, his pension benefits were increased by a cost-of-living adjustment through December 31, 2013. His pension is computed under the following formula: (1) 1.1% of "final average pay" multiplied by years of credited service up to 30, plus (2) 0.5% of final average pay multiplied by years of credited service