HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

Hudson Bay Capital Management LP's Holding History (CIK: 0001393825)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 75,430 Value ($000) $1,436 Avg Close $20.26 Range $17.23 - $24.70

Q3 2025

Shares 79,549 Value ($000) $1,557 Avg Close $17.18 Range $14.87 - $22.01

Q2 2025

Shares 90,103 Value ($000) $1,426 Avg Close $15.45 Range $9.25 - $19.71

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	75,430	$1,436	$20.26	$17.23 - $24.70
Q3 2025	79,549	$1,557	$17.18	$14.87 - $22.01
Q2 2025	90,103	$1,426	$15.45	$9.25 - $19.71