HALLADOR ENERGY COMPANY

Ticker: HNRG CUSIP: 40609P105 Class: Common Stock

DARK FOREST CAPITAL MANAGEMENT LP's Holding History (CIK: 0001853322)

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

Q4 2025

Shares 11,154 Value ($000) $212 Avg Close $20.26 Range $17.23 - $24.70

Q1 2025

Shares 25,370 Value ($000) $312 Avg Close $11.23 Range $8.37 - $13.68

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,154	$212	$20.26	$17.23 - $24.70
Q1 2025	25,370	$312	$11.23	$8.37 - $13.68