Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 76

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 76
---
Qualities Calorific Value (Btu/lb) Moisture (%wt) Ash (%wt) Sulfur (%wt) Mississippi Lignite Mining Company Measured 4,400 5,200 44.6 13.0 0.6 Mississippi Lignite Mining Company Indicated 400 5,180 44.1 13.6 0.6 Mississippi Lignite Mining Company Measured + Indicated 4,700 5,200 44.5 13.0 0.6 Mississippi Lignite Mining Company Inferred 100 5,200 45.5 12.0 0.5 Note: – Mineral Resources estimates have been prepared by a qualified person employed by NACCO Natural Resources as of December 31, 2024. – Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability and there is no certainty that all or any part of such Mineral Resources will be converted into Mineral Reserves. – Mineral Resources are in-situ and exclusive of 22.9 million tons (Mt) of Mineral Reserves. – Mineral Resources are reported using an economic cutoff of $34.02 per ton. – Resources are presented with a minimum 1 foot seam thickness, a maximum as received moisture basis ash content of 30%, and a minimum calorific value of 4000 BTU/lb on an as received moisture basis cutoff. – Resources are estimated using Vulcan Software. – Tonnages and qualities have been rounded to an accuracy level deemed appropriate by the QP. Summation errors due to rounding may exist. 33

Table 2.2 Mineral Resources Summary as of December 31, 2024 The Mineral Reserves as of December 31, 2024 presented in Table 2.3 below were determined to be the economically mineable portion of the measured and indicated Mineral Resources after the consideration of modifying factors related to the mining process. Inferred Mineral Resources were not considered for Mineral Reserves. Lignite Coal Reserve Classification Tonnage (Kt) Grades/Qualities Calorific Value (Btu/lb) Moisture (%wt) Ash (%wt) Sulfur (%wt) Mississippi Lignite Mining Company Proven 18,200 5,090 43.3 14.9 0.6 Mississippi Lignite Mining Company Probable 4,700 5,080 43.1 15.1 0.6 Mississippi Lignite Mining Company Total 22,