On February 11, 2020, David B.H. Williams resigned from the Board of Directors of NACCO Industries, Inc. (the “Company”). Mr. Williams’ resignation was not the result of any dispute or disagreement with the Company or the Company’s Board of Directors on any matter relating to the operations, policies or practices of the Company.

Effective February 13, 2020, Roger F. Rankin was appointed to the Board of Directors of the Company. Roger Rankin is self-employed (personal investments) and has served since 1991 as a Director of the Company’s wholly owned subsidiary, The North American Coal Corporation. Roger Rankin is the brother of Alfred M. Rankin, Jr., the Company’s non-executive Chairman. Roger Rankin is also the grandson of the founder of the Company and brings the perspective of a long-term stockholder to the Company’s Board of Directors. Roger Rankin’s long tenure as a Director of The North American Coal Corporation provides him with invaluable insight with respect to the Company’s operations.

Roger Rankin will participate in the Company’s standard compensation program for non-employee directors as described in the Company’s Proxy Statement for the 2019 Annual Meeting of Shareholders, which was filed with the Securities and Exchange Commission on March 22, 2019.

There are no arrangements or understandings between Roger Rankin and any other persons to which he was elected as a director.

About NACCO INDUSTRIES, INC. (NYSE:NC)

NACCO Industries, Inc. is a holding company with principal businesses, including mining, small appliances and specialty retail. The Company operates through three segments: NACoal, HBB and KC. Its subsidiaries include The North American Coal Corporation (NACoal), Hamilton Beach Brands, Inc. (HBB) and Kitchen Collection (KC). Its NACoal segment mines coal for use in power generation and provides mining services for other natural resources companies. NACoal’s mining operations include Mississippi Lignite Mining Company and Centennial Natural Resources. Its HBB segment designs, markets and distributes a range of small electric household and specialty housewares appliances, including blenders, can openers, coffeemakers, food processors, indoor electric grills, irons, mixers, slow cookers, toasters and toaster ovens. Its KC is a national specialty retailer of kitchenware and gourmet foods operating under the Kitchen Collection and Le Gourmet Chef store names in outlets and malls.