Company: NC
Filing Date: 2025-04-07
Form Type: ARS
Source: 0000789933-25-000013
Chunk: 11

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: ARS
Chunk 11
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 NAM currently operates 31 draglines, with the majority serving the Florida aggregates market, although we continue to expand geographically. We will soon be operating a large dragline to extract submerged limestone at an aggregates industry leader’s Arizona quarry operations. NAM also provides specialized mining services through the operation of surface miners, which are similar to roadway asphalt milling machines, to extract aggregates at customer quarries. Surface miners benefit customers by increasing resource recovery and improving the quality of aggregates produced, while extending the life of the mine without blasting and drilling. NAM is the exclusive provider of comprehensive mining services for Lithium America’s (NYSE: LAC) Thacker Pass lithium project in northern Nevada. Thacker Pass is the largest measured lithium reserve and resource in the world. Currently, we are providing civil construction services for the lithium processing plant erection site, and we are preparing to construct the lithium mine that will be adjacent to the plant. This project will provide a source of lithium to help the U.S. ensure domestic supply of this critical mineral. In addition to Florida and Nevada, NAM operates in Texas, Louisiana, Arkansas, Virginia and Nebraska. In recent years, we have successfully secured new contracts as well as extensions of existing contracts as we capitalize on our precision mining expertise. NAM is poised to benefit from additional revenue streams and economies of scale as operations pursuant to several new contracts begin production in 2026. In addition, we are actively pursuing other new NAM business opportunities that would build on this success. We believe we operate more draglines than anyone else in the United States. At NAM, we operate draglines with bucket capacities ranging in size from 8 to 105 cubic yards. Our scale led us to partner with MTECK, a Dutch manufacturer, to develop the next generation of electric draglines, offering efficiency and productivity not available from older machines. These draglines were engineered by operators for operators, based on our industry expertise and insight. Above, a surface miner works in Nebraska to increase resource recovery for the customer and improve the quality of aggregates produced. 10 NACCO INDUSTRIES

Mitigation Resources of North America (Mitigation Resources) provides a range of ecological restoration services. We develop stream and wetland mitigation solutions, focusing particularly on high-growth markets with substantial upside potential. We provide comprehensive reclamation and restoration construction services for states, municipalities and third- party mining companies. We also provide ecological restoration services for abandoned surface mines, serving state-run markets. Texas designated Mitigation Resources as its preferred provider of