Hallador Energy Advances Expansion into Natural Gas Power Generation through ERAS Application

TERRE HAUTE, Ind., Dec. 16, 2025 (GLOBE NEWSWIRE) -- Hallador Energy Company (Nasdaq: HNRG) (“Hallador” or the “Company”) today announced that the Company has finalized its application into the Expedited Resource Addition Study (ERAS) program and has made deposits totaling approximately $13 million as required under the application process. The application provides an expedited pathway for up to 515 MW of natural gas generation adjacent to Hallador’s Merom Generating Station.

“Finalizing our application represents a meaningful step forward in our plans to add power generation at the Merom site,” said Brent Bilsland, President and Chief Executive Officer. “With each additional milestone achieved through the ERAS program, we move closer to expanding the range of customers and end-markets we can serve within the high demand energy sector. In parallel, we are taking prudent steps to position ourselves to advance development activities while the application is under review.”

Hallador is also evaluating financing options and expects to secure generating infrastructure while the ERAS application is under review. To prepare for these ERAS project development efforts, the Company filed a prospectus supplement to its existing shelf registration statement to raise up to $50 million of common stock under its existing ATM program.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Statements that are not strictly historical statements constitute forward-looking statements and may often, but not always, be identified by the use of such words such as "expects," "believes," "intends," "anticipates," "plans," "estimates," "guidance," "target," "potential," "possible," or "probable" or statements that certain actions, events or results "may," "will," "should," or "could" be taken, occur or be achieved. Forward-looking statements include, without limitation, those relating to our ability to participate in the ERAS program (which requires acceptance of our application by ERAS) and achieve the expected benefits thereof. Forward-looking statements are based on current expectations and assumptions and analyses made by Hallador and its management in light of experience and perception of historical trends, current conditions and expected future developments, as well as other factors appropriate under the circumstances that involve various risks and uncertainties that could cause actual results to differ materially from those reflected in the statements. These risks include, but are not limited to, those set forth in Hallador’s annual report on Form 10-K for the year ended December 31, 2024, and other Securities and Exchange Commission filings. Hallador undertakes no obligation to revise or update publicly any forward-looking statements except as required by law.

Hallador has filed a shelf registration statement (including a prospectus supplement) with the SEC for its existing ATM program. Current and potential investors should read the prospectus in the registration statement, and the prospectus supplements relating to the ATM program and other documents Hallador has filed with the SEC for more complete information about Hallador and the ATM program. You may get these documents for free by visiting EDGAR on the SEC Web site at .

About Hallador Energy Company

Hallador Energy Company (Nasdaq: HNRG) is a vertically-integrated Independent Power Producer (IPP) based in Terre Haute, Indiana. The Company has two core businesses: Hallador Power Company, LLC, which produces electricity and capacity at its one Gigawatt (GW) Merom Generating Station, and Sunrise Coal, LLC, which produces and supplies fuel to the Merom Generating Station and other companies. To learn more about Hallador, visit the Company’s website at .

Company Contact

Todd E. Telesz

Chief Financial Officer

Investor Relations Contact

Sean Mansouri, CFA

Elevate IR

(720) 330-2829