HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

GARNET EQUITY CAPITAL HOLDINGS, INC.'s Holding History (CIK: 0001423876)

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

Q4 2025

Shares 357,840 Value ($000) $6,813 Avg Close $20.26 Range $17.23 - $24.70

Q3 2025

Shares 299,900 Value ($000) $5,869 Avg Close $17.18 Range $14.87 - $22.01

Q2 2025

Shares 339,825 Value ($000) $5,379 Avg Close $15.45 Range $9.25 - $19.71

Q1 2025

Shares 310,393 Value ($000) $3,812 Avg Close $11.23 Range $8.37 - $13.68

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	357,840	$6,813	$20.26	$17.23 - $24.70
Q3 2025	299,900	$5,869	$17.18	$14.87 - $22.01
Q2 2025	339,825	$5,379	$15.45	$9.25 - $19.71
Q1 2025	310,393	$3,812	$11.23	$8.37 - $13.68