Effective February 21 2024, Mr. W. Paul McDonald was appointed to the Board of Directors of NACCO Industries, Inc. Mr. McDonald will serve on the Company?s Compensation and Human Capital Committee. Mr. McDonald joined Pioneer Natural Resources Company in 1993 and served in various executive leadership roles until April 2019. At the time of his retirement, Mr. McDonald served as the Vice President ?

Engineering. Mr. McDonald has over thirty-five years of experience in the oil and gas industry and brings a depth of engineering and operational expertise in the oil and gas industry to the Board. The Board believes that the Company will benefit from Mr. McDonald?s business experience, including his extensive oil and gas experience.

The Board has determined that Mr. McDonald is an ?independent director? in accordance with the New York Stock Exchange listing standards, the rules and regulations of the Securities and Exchange Commission (?SEC?) and the Company?s corporate governance guidelines. Mr. McDonald will participate in the Company?s standard compensation program for non-employee directors as described in the Company?s Proxy Statement for the 2023 Annual Meeting of Shareholders, which was filed with the SEC on April 5, 2023.