Facilities Expected to Fund the Majority of Turtle Creek’s Sub-$800 Million Estimated Project Cost

Company’s $2.4 Billion Contracted Forward Sales Position and Expected Operating Cash Flow Provide Credible Pathway to Fully Fund Turtle Creek

TERRE HAUTE, Ind., Sept. 17, 2026 (GLOBE NEWSWIRE) -- Hallador Energy Company (NASDAQ:HNRG) ("Hallador" or the "Company") today announced that on September 15, 2026, the Company closed a $600 million senior secured term loan facility (the "Term Loan Facility") with a three-year term and, subject to lender approval, a two-year extension option. The Term Loan Facility consists of approximately $550 million funded at closing and an additional $50 million delayed draw term loan commitment available for up to 12 months. In connection with the Term Loan Facility, the Company also has the ability to establish a super-priority revolving credit facility of up to $75 million with a similar tenor, creating a financing package (collectively, the "Facilities") of up to $675 million.

Hallador expects to use borrowings from the Facilities primarily to fund upcoming payment obligations under its turbine asset purchase agreement, transportation and refurbishment costs, pre-notice-to-proceed and other development costs, and construction of the Company’s proposed new and efficient 460-megawatt natural gas fired Turtle Creek Gas project ("Turtle Creek"), which has an expected total project cost of less than $800 million. Approximately $120 million of the proceeds from the Term Loan Facility will be used to repay the Company’s existing $45 million term loan and $75 million revolving credit facility. Proceeds will also be used for general corporate purposes.