North American Coal: Compliance

CODE OF ETHICS

Code of Conduct 2010

The North American Coal Corporation strictly enforces the NACCO Industries, Inc. and Subsidiaries Code of Corporate Conduct to emphasize to employees, customers and suppliers that we will do business only in compliance with the highest legal and ethical standards.

Concerns relating to possible violations of the company's Code of Corporate Conduct or any unethical, dishonest, or illegal conduct by any employee should be reported in writing to:

John D. Neumann
Vice President - General Counsel, and Secretary
The North American Coal Corporation
5340 Legacy Drive
Building I, Suite #300
Plano, Texas 75240

or by calling the:

CORPORATE COMPLIANCE HELPLINE
1.877.367.4448

Via the web:

Nacco Industries, Inc. Workplace Alert Program

The Helpline is a toll-free number that is always available. All concerns will be handled strict confidence and may be reported anonymously.