TH

SEC source: 0001567619-21-005820 · doc1.xml · nonDerivative · entry 1

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,164

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-21-005817 · doc1.xml · derivative · entry 3

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 227,682

Underlying: Common Stock · 16,060 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: Total includes unvested RSUs from the following grants: 142,857 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 48,860 RSUs granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · derivative.expiration_date: Total includes unvested RSUs from the following grants: 142,857 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 48,860 RSUs granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · balance_after: Total includes unvested RSUs from the following grants: 142,857 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 48,860 RSUs granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

SEC source: 0001567619-21-005817 · doc1.xml · nonDerivative · entry 2

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 138,702

F2 · price: Restricted stock units withheld for payment of tax liability upon vesting of 16,060 restricted stock units. Stock price reflects closing stock price as of March 4, 2021.

SEC source: 0001567619-21-005817 · doc1.xml · nonDerivative · entry 1

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 142,612

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-21-005816 · doc1.xml · derivative · entry 3

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 353,022

Underlying: Common Stock · 26,767 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: Total includes unvested RSUs from the following grants: 238,095 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 46,169 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · derivative.expiration_date: Total includes unvested RSUs from the following grants: 238,095 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 46,169 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · balance_after: Total includes unvested RSUs from the following grants: 238,095 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 46,169 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

SEC source: 0001567619-21-005816 · doc1.xml · nonDerivative · entry 2

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,178,390

F2 · shares: Restricted stock units withheld for payment of tax liability upon vesting of 26,767 restricted stock units. Stock price reflects closing stock price as of March 4, 2021.

F2 · price: Restricted stock units withheld for payment of tax liability upon vesting of 26,767 restricted stock units. Stock price reflects closing stock price as of March 4, 2021.

SEC source: 0001567619-21-005816 · doc1.xml · nonDerivative · entry 1

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,184,907

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-21-005818 · doc1.xml · derivative · entry 3

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 135,537

Underlying: Common Stock · 5,354 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: Total includes unvested RSUs from the following grants: 95,238 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 32,318 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · derivative.expiration_date: Total includes unvested RSUs from the following grants: 95,238 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 32,318 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

F3 · balance_after: Total includes unvested RSUs from the following grants: 95,238 RSUs granted on February 25, 2021 which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date; 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021; and 32,318 RSUs granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020. Awards are subject to the terms of the respective RSU award agreements and subject to the Target Hospitality Corp. 2019 Incentive Award Plan.

SEC source: 0001567619-21-005818 · doc1.xml · nonDerivative · entry 2

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,432

F2 · price: Restricted stock units withheld for payment of tax liability upon vesting of 5,354 restricted stock units. Stock price reflects closing stock price as of March 4, 2021.

SEC source: 0001567619-21-005818 · doc1.xml · nonDerivative · entry 1

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,687

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-21-005189 · doc1.xml · derivative · entry 2

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 108,696

Underlying: Common Stock · 108,696 shares

Expires 2031-02-25

F4 · derivative.exercise_date: The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Company's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Plan and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Plan and SAR Award Agreement.

SEC source: 0001567619-21-005189 · doc1.xml · derivative · entry 1

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 75,959

Underlying: Common Stock · 47,619 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 47,619 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F2 · derivative.expiration_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 47,619 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F3 · balance_after: Total includes in addition to the grant of 47,619 RSUs on February 25, 2021, unvested RSUs from the following grants: 21,414 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.

SEC source: 0001567619-21-005186 · doc1.xml · derivative · entry 2

Lewis Heidi Diane · CIK 0001765471 · EVP, General Counsel & Sec

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 108,696

Underlying: Common Stock · 108,696 shares

Expires 2031-02-25

F4 · derivative.exercise_date: The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Company's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Plan and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Plan and SAR Award Agreement.

SEC source: 0001567619-21-005186 · doc1.xml · derivative · entry 1

Lewis Heidi Diane · CIK 0001765471 · EVP, General Counsel & Sec

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 75,959

Underlying: Common Stock · 47,619 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 47,619 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F2 · derivative.expiration_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 47,619 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F3 · balance_after: Total includes in addition to the grant of 47,619 RSUs on February 25, 2021, unvested RSUs from the following grants: 21,414 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.

SEC source: 0001567619-21-005183 · doc1.xml · derivative · entry 2

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 326,087

Underlying: Common Stock · 326,087 shares

Expires 2031-02-25

F4 · derivative.exercise_date: The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Company's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Plan and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Plan and SAR Award Agreement.

SEC source: 0001567619-21-005183 · doc1.xml · derivative · entry 1

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 243,742

Underlying: Common Stock · 142,857 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 142,857 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F2 · derivative.expiration_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 142,857 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F3 · balance_after: Total includes in addition to the grant of 142,857 RSUs on February 25, 2021, unvested RSUs from the following grants: 64,240 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.

SEC source: 0001567619-21-005184 · doc1.xml · derivative · entry 2

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 217,391

Underlying: Common Stock · 217,391 shares

Expires 2031-02-25

F4 · derivative.exercise_date: The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Company's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Plan and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Plan and SAR Award Agreement.

SEC source: 0001567619-21-005184 · doc1.xml · derivative · entry 1

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 140,891

Underlying: Common Stock · 95,238 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 95,238 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F2 · derivative.expiration_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 95,238 RSUs which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F3 · balance_after: Total includes in addition to the grant of 95,238 RSUs on February 25, 2021, unvested RSUs from the following grants: 21,414 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 32,318 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.

SEC source: 0001567619-21-005182 · doc1.xml · derivative · entry 2

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 543,478

Underlying: Common Stock · 543,478 shares

Expires 2031-02-25

F4 · derivative.exercise_date: The Stock Appreciation Rights ("SARs"), reported on this Form 4, represent upon vesting the right to receive payment in cash or stock, at the Company's discretion, the amount of the increase from the grant date price and fair market value pursuant to the terms and conditions of the Plan and the SAR Award Agreement entered into between the Issuer and the Reporting Person as of February 25, 2021 (the "SAR Award Agreement"). The SARs vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the Plan and SAR Award Agreement.

SEC source: 0001567619-21-005182 · doc1.xml · derivative · entry 1

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 379,789

Underlying: Common Stock · 238,095 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 238,095 restricted stock units which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F2 · derivative.expiration_date: On February 25, 2021, the Reporting Person was granted by the Compensation Committee 238,095 restricted stock units which vest 50% on the second anniversary of the grant date and the remaining 50% on the third anniversary of the grant date, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement entered into between Issuer and the Reporting Person.

F3 · balance_after: Total includes in addition to the grant of 238,095 RSUs on February 25, 2021, unvested RSUs from the following grants: 107,067 restricted stock units granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning March 4, 2021 and 46,169 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and the Restricted Stock Unit Award Agreements entered into between the Issuer and the Reporting Person.

SEC source: 0001567619-20-017445 · doc1.xml · derivative · entry 3

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,180

Underlying: Common Stock · 2,435 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2,435 RSUs scheduled to vest on December 31, 2020.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2,435 RSUs scheduled to vest on December 31, 2020.

SEC source: 0001104659-20-111811 · a4.xml · derivative · entry 3

TDR Capital LLP · CIK 0001408159 · 10% owner

DALE MANJIT · CIK 0001113203 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l.

Disclosed balance after: 196,629

Underlying: Common Stock · 10,552 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F6 · kind: On October 1, 2020, the Issuer and Arrow entered into Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F3 · balance_after: On May 20, 2020, Mr. Robertson was granted 140,449 RSUs and Mr. Lindsay was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F5 · balance_after: Immediately following each grant of RSUs, each of Mr. Robertson and Mr. Lindsay transferred the RSUs to Arrow, which holds certain securities of Target Hospitality Corp. on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F6 · balance_after: On October 1, 2020, the Issuer and Arrow entered into Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-017435 · doc1.xml · derivative · entry 3

Berry Joy Anne · CIK 0001813037 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,180

Underlying: Common Stock · 1,732 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Retainer Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 1,732 RSUs scheduled to vest on December 31, 2020.

F2 · derivative.exercise_date: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

F2 · derivative.expiration_date: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

F2 · balance_after: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Retainer Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 1,732 RSUs scheduled to vest on December 31, 2020.

SEC source: 0001567619-20-017447 · doc1.xml · derivative · entry 1

Lewis Heidi Diane · CIK 0001765471 · EVP, General Counsel & Sec

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,340

Underlying: Common Stock · 7,914 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 7,914 RSUs scheduled to vest October through December 2020.

F2 · derivative.exercise_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 23,742 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · derivative.expiration_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 23,742 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · balance_after: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 23,742 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 7,914 RSUs scheduled to vest October through December 2020.

SEC source: 0001567619-20-017454 · doc1.xml · derivative · entry 1

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,340

Underlying: Common Stock · 7,305 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 7,305 RSUs scheduled to vest October through December 2020.

F2 · derivative.exercise_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 21,916 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · derivative.expiration_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 21,916 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · balance_after: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 21,916 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 9,234 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 7,305 RSUs scheduled to vest October through December 2020.

SEC source: 0001567619-20-017461 · doc1.xml · derivative · entry 3

Robertson Stephen · CIK 0001409360 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · by Arrow Holdings S.A.R.L.

Disclosed balance after: 196,629

Underlying: Common Stock · 10,552 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F6 · kind: On October 1, 2020, the Issuer and Arrow entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020.

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · balance_after: On May 20, 2020, the Reporting Person was granted 140,449 RSUs and Gary Lindsay was granted 56,180 which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F5 · balance_after: Immediately following each grant of the restricted stock units, each of the Reporting Person and Mr. Lindsay transferred the restricted stock units to Arrow, which holds certain securities of the Issuer on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F6 · balance_after: On October 1, 2020, the Issuer and Arrow entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020.

F7 · ownership.direct: As the controlling shareholder of Arrow, TDR Capital II Investments LP may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.direct: Algeco Holdings is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.direct: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.direct: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, the Reporting Person and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.direct: Each of TDR Capital II Investments LP, TDR Capital LLP, the Reporting Person and Manjit Dale (the "TDR Persons") may be deemed to be the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-017440 · doc1.xml · derivative · entry 3

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,180

Underlying: Common Stock · 2,435 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

SEC source: 0001567619-20-017449 · doc1.xml · derivative · entry 1

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 100,885

Underlying: Common Stock · 13,474 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 13,474 RSUs scheduled to vest October through December 2020.

F2 · derivative.exercise_date: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · derivative.expiration_date: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · balance_after: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month from April through December 2020 subject to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 13,474 RSUs scheduled to vest October through December 2020.

SEC source: 0001567619-20-017443 · doc1.xml · derivative · entry 3

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,180

Underlying: Common Stock · 2,435 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

SEC source: 0001567619-20-017438 · doc1.xml · derivative · entry 3

Baker Eli · CIK 0001615015 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,180

Underlying: Common Stock · 2,435 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 2435 RSUs scheduled to vest on December 31, 2020.

SEC source: 0001104659-20-111810 · a4.xml · derivative · entry 3

TDR Capital II Investments LP · CIK 0001771172 · 10% owner

Arrow Holdings S.a.r.l. · CIK 0001767017 · 10% owner

Algeco Holding S.a.r.l. · CIK 0001766820 · 10% owner

Algeco Limited Partnership SLP · CIK 0001765696 · 10% owner

Algeco Global S.a.r.l. · CIK 0001766340 · 10% owner

Algeco Investments 1 S.a.r.l. · CIK 0001765698 · 10% owner

Algeco Investments 2 S.a.r.l. · CIK 0001765697 · 10% owner

Algeco Investments 3 S.a.r.l. · CIK 0001771173 · 10% owner

Algeco Investments B.V. · CIK 0001770229 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l.

Disclosed balance after: 196,629

Underlying: Common Stock · 10,552 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F6 · kind: On October 1, 2020, the Issuer and Arrow entered into Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F3 · balance_after: On May 20, 2020, Mr. Robertson was granted 140,449 RSUs and Mr. Lindsay was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F5 · balance_after: Immediately following each grant of RSUs, each of Mr. Robertson and Mr. Lindsay transferred the RSUs to Arrow, which holds certain securities of Target Hospitality Corp. on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F6 · balance_after: On October 1, 2020, the Issuer and Arrow entered into Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-017452 · doc1.xml · derivative · entry 1

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 45,653

Underlying: Common Stock · 6,493 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 6,493 RSUs scheduled to vest October through December 2020.

F2 · derivative.exercise_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 19,481 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 32,318 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · derivative.expiration_date: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 19,481 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 32,318 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F2 · balance_after: Includes 21,414 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 19,481 RSUs granted on April 1, 2020 pursuant to the salary reduction equity award program ("Salary Reduction Program") which vest ratably on the 1st of every month April through December 2020 subject to the terms of the Plan and related award agreement and 32,318 restricted stock units granted on May 21, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program. Pursuant to the Agreement, Reporting Person will forfeit the remaining 6,493 RSUs scheduled to vest October through December 2020.

SEC source: 0001567619-20-017448 · doc1.xml · derivative · entry 1

Archer James B. · CIK 0001763054 · Director · President and CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 141,694

Underlying: Common Stock · 19,704 shares

Expires not disclosed

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · kind: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "October Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program and the related August Agreement. Pursuant to the October Agreement, Reporting Person will forfeit the remaining 19,704 RSUs scheduled to vest October through December 2020.

F2 · derivative.exercise_date: On May 21, 2019, the Reporting Person was granted 46,169 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020 subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement. In addition, on January 2, 2020, the Compensation Committee approved Mr. Archer's election to receive his annual base salary for Calendar Year 2020 in the form of 124,741 RSUs, which was amended by the RSU Termination Agreement dated 08/05/2020 (the "August Agreement"). The August Agreement provides, pursuant to the salary reduction equity award program ("Salary Reduction Program"), for the remaining 26,272 RSUs to vest ratably September 1, 2020 through December 1, 2020. Further, total includes 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments beginning on March 2, 2021.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020 subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement. In addition, on January 2, 2020, the Compensation Committee approved Mr. Archer's election to receive his annual base salary for Calendar Year 2020 in the form of 124,741 RSUs, which was amended by the RSU Termination Agreement dated 08/05/2020 (the "August Agreement"). The August Agreement provides, pursuant to the salary reduction equity award program ("Salary Reduction Program"), for the remaining 26,272 RSUs to vest ratably September 1, 2020 through December 1, 2020. Further, total includes 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments beginning on March 2, 2021.

F2 · balance_after: On May 21, 2019, the Reporting Person was granted 46,169 RSUs which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on May 21, 2020 subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement. In addition, on January 2, 2020, the Compensation Committee approved Mr. Archer's election to receive his annual base salary for Calendar Year 2020 in the form of 124,741 RSUs, which was amended by the RSU Termination Agreement dated 08/05/2020 (the "August Agreement"). The August Agreement provides, pursuant to the salary reduction equity award program ("Salary Reduction Program"), for the remaining 26,272 RSUs to vest ratably September 1, 2020 through December 1, 2020. Further, total includes 107,067 RSUs granted on March 4, 2020 which vest in four equal annual installments beginning on March 2, 2021.

F3 · balance_after: On October 1, 2020, the Issuer and the Reporting Person entered into the Executive Restricted Stock Agreement for Non-Employee Directors Termination Agreement (the "October Agreement") following the Compensation Committee and Board of Directors approval to terminate the Salary Reduction Program and the related August Agreement. Pursuant to the October Agreement, Reporting Person will forfeit the remaining 19,704 RSUs scheduled to vest October through December 2020.

SEC source: 0001567619-20-017445 · doc1.xml · derivative · entry 2

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,615

Underlying: Common Stock · 2,435 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

SEC source: 0001567619-20-017445 · doc1.xml · nonDerivative · entry 1

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 131,452

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001104659-20-111811 · a4.xml · derivative · entry 2

TDR Capital LLP · CIK 0001408159 · 10% owner

DALE MANJIT · CIK 0001113203 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l.

Disclosed balance after: 207,181

Underlying: Common Stock · 10,552 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F3 · balance_after: On May 20, 2020, Mr. Robertson was granted 140,449 RSUs and Mr. Lindsay was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F5 · balance_after: Immediately following each grant of RSUs, each of Mr. Robertson and Mr. Lindsay transferred the RSUs to Arrow, which holds certain securities of Target Hospitality Corp. on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001104659-20-111811 · a4.xml · nonDerivative · entry 1

TDR Capital LLP · CIK 0001408159 · 10% owner

DALE MANJIT · CIK 0001113203 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l. and Algeco Investments B.V.

Disclosed balance after: 64,788,220

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · balance_after: Includes (i) 15,628,865 shares of Common Stock held by Algeco Investments B.V. ("Algeco") and (ii) 49,159,355 shares of Common Stock held by Arrow Holdings S.a r.l. ("Arrow")

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-017435 · doc1.xml · derivative · entry 2

Berry Joy Anne · CIK 0001813037 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 57,912

Underlying: Common Stock · 1,731 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · derivative.exercise_date: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

F2 · derivative.expiration_date: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

F2 · balance_after: On April 1, 2020, the Compensation Committee approved the Director Retainer Reduction Equity Award Program (the "Retainer Program"). As contemplated by the Retainer Program, on May 20, 2020, the Reporting Person, as a newly appointed director to the Board of Directors, was granted 5,194 restricted stock units ("RSUs") pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan"). The RSUs will ratably vest on June 30, September 30 and December 31, 2020. Also on May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Plan and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the board of directors.

SEC source: 0001567619-20-017435 · doc1.xml · nonDerivative · entry 1

Berry Joy Anne · CIK 0001813037 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,462

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-20-017461 · doc1.xml · derivative · entry 2

Robertson Stephen · CIK 0001409360 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · by Arrow Holdings S.A.R.L.

Disclosed balance after: 207,181

Underlying: Common Stock · 10,552 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · balance_after: On May 20, 2020, the Reporting Person was granted 140,449 RSUs and Gary Lindsay was granted 56,180 which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 24,351 RSUs were granted to the Reporting Person and 7,305 RSUs were granted to Gary Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F5 · balance_after: Immediately following each grant of the restricted stock units, each of the Reporting Person and Mr. Lindsay transferred the restricted stock units to Arrow, which holds certain securities of the Issuer on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F7 · ownership.direct: As the controlling shareholder of Arrow, TDR Capital II Investments LP may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.direct: Algeco Holdings is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.direct: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.direct: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, the Reporting Person and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.direct: Each of TDR Capital II Investments LP, TDR Capital LLP, the Reporting Person and Manjit Dale (the "TDR Persons") may be deemed to be the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-017461 · doc1.xml · nonDerivative · entry 1

Robertson Stephen · CIK 0001409360 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 64,963,220

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · balance_after: Includes 175,000 shares of Common Stock owned directly by the Reporting Person following the Reported Transaction. The remaining shares of Common Stock beneficially owned following the Reported Transaction are held by Algeco Investments B.V. ("Algeco") and Arrow Holding S.a r.l ("Arrow").

F6 · ownership.nature: On October 1, 2020, the Issuer and Arrow entered into the Restricted Stock Agreement for Non-Employee Directors Termination Agreements (the "Agreements") following the Compensation Committee and Board of Directors approval to terminate the Director Retainer Reduction Program. Pursuant to the Agreements, Arrow will forfeit the remaining 10,552 RSUs scheduled to vest on December 31, 2020.

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holdings is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, the Reporting Person and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

SEC source: 0001567619-20-017440 · doc1.xml · derivative · entry 2

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,615

Underlying: Common Stock · 2,435 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

SEC source: 0001567619-20-017440 · doc1.xml · nonDerivative · entry 1

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,385,799

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-20-017443 · doc1.xml · derivative · entry 2

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,615

Underlying: Common Stock · 2,435 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program"), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

SEC source: 0001567619-20-017443 · doc1.xml · nonDerivative · entry 1

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,799

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001567619-20-017438 · doc1.xml · derivative · entry 2

Baker Eli · CIK 0001615015 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 58,615

Underlying: Common Stock · 2,435 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F3 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

F2 · balance_after: On May 20, 2020, the Reporting Person was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to the Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and award agreement. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F3 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program (the "Director Retainer Reduction Program), 7,305 RSUs were granted on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and award agreement.

SEC source: 0001567619-20-017438 · doc1.xml · nonDerivative · entry 1

Baker Eli · CIK 0001615015 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 830,299

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

SEC source: 0001104659-20-111810 · a4.xml · derivative · entry 2

TDR Capital II Investments LP · CIK 0001771172 · 10% owner

Arrow Holdings S.a.r.l. · CIK 0001767017 · 10% owner

Algeco Holding S.a.r.l. · CIK 0001766820 · 10% owner

Algeco Limited Partnership SLP · CIK 0001765696 · 10% owner

Algeco Global S.a.r.l. · CIK 0001766340 · 10% owner

Algeco Investments 1 S.a.r.l. · CIK 0001765698 · 10% owner

Algeco Investments 2 S.a.r.l. · CIK 0001765697 · 10% owner

Algeco Investments 3 S.a.r.l. · CIK 0001771173 · 10% owner

Algeco Investments B.V. · CIK 0001770229 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l.

Disclosed balance after: 207,181

Underlying: Common Stock · 10,552 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F4 · derivative.exercise_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F4 · derivative.expiration_date: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F3 · balance_after: On May 20, 2020, Mr. Robertson was granted 140,449 RSUs and Mr. Lindsay was granted 56,180 RSUs which vest in full on the first anniversary of the grant date or, if earlier, the date of the first annual meeting of the stockholders of the Issuer following the grant date, subject to Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors.

F4 · balance_after: As contemplated by the Director Retainer Reduction Equity Award Program, 24,351 RSUs granted to Mr. Robertson and 7,305 RSUs granted to Mr. Lindsay on April 1, 2020 which vest ratably on June 30, September 30 and December 31, 2020 subject to the Plan and the award agreements entered into between the Issuer and Mr. Robertson and Mr. Lindsay, respectively.

F5 · balance_after: Immediately following each grant of RSUs, each of Mr. Robertson and Mr. Lindsay transferred the RSUs to Arrow, which holds certain securities of Target Hospitality Corp. on behalf of TDR Capital II Holdings LP, the investment fund managed by TDR Capital LLP. Upon transfer to Arrow, the restricted stock units vest in accordance with the same terms and conditions of the initial grant.

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001104659-20-111810 · a4.xml · nonDerivative · entry 1

TDR Capital II Investments LP · CIK 0001771172 · 10% owner

Arrow Holdings S.a.r.l. · CIK 0001767017 · 10% owner

Algeco Holding S.a.r.l. · CIK 0001766820 · 10% owner

Algeco Limited Partnership SLP · CIK 0001765696 · 10% owner

Algeco Global S.a.r.l. · CIK 0001766340 · 10% owner

Algeco Investments 1 S.a.r.l. · CIK 0001765698 · 10% owner

Algeco Investments 2 S.a.r.l. · CIK 0001765697 · 10% owner

Algeco Investments 3 S.a.r.l. · CIK 0001771173 · 10% owner

Algeco Investments B.V. · CIK 0001770229 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · By Arrow Holdings S.a r.l. and Algeco Investments B.V.

Disclosed balance after: 64,788,220

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · price: Each restricted stock unit ("RSU") represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F2 · balance_after: Includes (i) 15,628,865 shares of Common Stock held by Algeco Investments B.V. ("Algeco") and (ii) 49,159,355 shares of Common Stock held by Arrow Holdings S.a r.l. ("Arrow")

F7 · ownership.nature: As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow.

F8 · ownership.nature: Algeco Holding S.a r.l. ("Algeco Holdings") is the controlling shareholder of Algeco Limited Partnership SLP ("Algeco SLP"), which is the controlling shareholder of Algeco Global S.a r.l. ("Algeco Global") which is the controlling shareholder of Algeco Investments 1 S.a r.l. (Lux) ("Algeco Investments 1"), which is the sole shareholder of Algeco Investments 2 S.a r.l. (Lux) ("Algeco Investments 2"), which is the sole shareholder of Algeco Investments 3 S.a r.l. (Lux) ("Algeco Investments 3" and together with Algeco Holdings, Algeco Global, Algeco SLP, Algeco Investments 1 and Algeco Investments 2, the "Algeco Entities").

F9 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F10 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the securities of the Issuer held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and Algeco. As founding partners of TDR Capital LLP, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F11 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

SEC source: 0001567619-20-016493 · doc1.xml · derivative · entry 3

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 114,359

Underlying: Common Stock · 12,215 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · derivative.exercise_price: Each restricted stock unit represents a contingent right to receive upon vesting one share of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), or its cash equivalent.

F3 · derivative.exercise_date: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 which vest ratably on the 1st of every month (except April, which is April 15) pursuant to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · derivative.expiration_date: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 which vest ratably on the 1st of every month (except April, which is April 15) pursuant to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.

F3 · balance_after: Includes 64,240 RSUs granted on March 4, 2020 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan (the "Plan") and the Restricted Stock Unit Award Agreement, 40,422 RSUs granted on April 1, 2020 which vest ratably on the 1st of every month (except April, which is April 15) pursuant to the terms of the Plan and related award agreement and 48,860 restricted stock units granted on September 3, 2019 which vest in four equal annual installments on each of the first four anniversaries of the grant date beginning on September 3, 2020, subject to the terms and conditions of the Plan and Restricted Stock Unit Award Agreement.