HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

Verdad Advisers, LP's Holding History (CIK: 0001812822)

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

Q4 2021

Shares 530,260 Value ($000) $1,304 Avg Close $2.84 Range $2.06 - $4.58

Q3 2021

Shares 900,000 Value ($000) $2,664 Avg Close $2.61 Range $1.99 - $3.48

Q2 2021

Shares 1,066,806 Value ($000) $2,875 Avg Close $2.36 Range $1.80 - $3.05

Q1 2021

Shares 1,066,806 Value ($000) $1,995 Avg Close $1.70 Range $1.29 - $2.21

Q4 2020

Shares 989,189 Value ($000) $1,454 Avg Close $0.92 Range $0.63 - $1.75

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2021	530,260	$1,304	$2.84	$2.06 - $4.58
Q3 2021	900,000	$2,664	$2.61	$1.99 - $3.48
Q2 2021	1,066,806	$2,875	$2.36	$1.80 - $3.05
Q1 2021	1,066,806	$1,995	$1.70	$1.29 - $2.21
Q4 2020	989,189	$1,454	$0.92	$0.63 - $1.75