Hallador Energy : Investor Presentation – June 2025

Published: 2025-07-02 11:43:05 ET HNRG

Published on 07/02/2025 at 11:43

HALLADOR ENERGY COMPANY

HNRG

June 2025

Hallador Energy Company (Nasdaq: HNRG)

Hallador is advancing its products up the value chain to drive even greater margin expansion

Hallador Power Company (HPC)

In 2022, we acquired our One-Gigawatt Merom power generator

Enabling Hallador to convert fuel into higher value wholesale electricity

Signed MOU in March 2024 that provides a pathway for Hallador

to power the end-user

Signed Non-Binding Term Sheet in Q3'24 with Leading Global

Data Center Developer to Supply Power for 10+ years

In Jan 2025, we signed an exclusive commitment agreement that provides cumulative payments of up to $5 million to Hallador

Sunrise Coal, LLC

Sunrise is the primary supplier of fuel to our Merom power generator

Our goal is to sell between 3.5 and 4.5 million tons of fuel annually

In FY 2024, Sunrise sold 3.9 million tons of coal

For FY 2025, we expect our Merom Power Plant to consume 2.3 million tons of coal from Sunrise as well as third parties. We also expect Sunrise to sell an additional 3 million tons of coal to third parties.

Hallador has a

~$1.5 billion forward contracted sales book*

Hallador has a rich 70-year history in large part due to its Investment Grade Customers

High barriers to entry in a supply constrained market -Hallador owns 100% of its generator interconnection, creating an investment platform for decades to come

Forward sales are now at significantly higher average MWh prices - lower priced contracts expire after 2025, providing significant margin opportunity going forward

Large open position for Hallador Power starting in 2026, allowing for 10+ years' worth of revenue to reprice at significantly higher margins

A high percentage of margin generation is expected to convert to free cash flow, and high contribution margin supports ~75%+ of gross profit growth flowing through to

Adjusted EBITDA

Investment Highlights

Disclaimer

Hallador Energy Company published this content on July 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 02, 2025 at 15:42 UTC.