TH

SEC source: 0001567619-19-019229 · doc1.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 56,169

Underlying: Common Stock · 5,000 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: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

F3 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

SEC source: 0001567619-19-019229 · doc1.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,079,344

F2 · shares: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units. Stock price reflects closing stock price as of October 1, 2019.

F2 · price: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units. Stock price reflects closing stock price as of October 1, 2019.

SEC source: 0001567619-19-019229 · doc1.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,081,311

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: 0001567619-19-017961 · doc1.xml · derivative · entry 3

Aberdale Andrew A. · CIK 0001763058 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 5,771 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.

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.

F2 · derivative.exercise_date: On May 21, 2019, the Reporting Person was granted 23,085 restricted stock units which were to vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F3 · derivative.exercise_date: Pursuant to the terms of the Reporting Person's Separation Agreement filed with the SEC on August 15, 2019, the Issuer accelerated the vesting of 25% of the Reporting Person's previously granted restricted stock units. The remaining 17,314 unvested restricted stock units were forfeited. The Issuer withheld 2,573 restricted stock units to satisfy withholding obligations and the Reporting Person received the balance of 3,198 restricted stock units, in connection with this accelerated vesting.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 23,085 restricted stock units which were to vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F3 · derivative.expiration_date: Pursuant to the terms of the Reporting Person's Separation Agreement filed with the SEC on August 15, 2019, the Issuer accelerated the vesting of 25% of the Reporting Person's previously granted restricted stock units. The remaining 17,314 unvested restricted stock units were forfeited. The Issuer withheld 2,573 restricted stock units to satisfy withholding obligations and the Reporting Person received the balance of 3,198 restricted stock units, in connection with this accelerated vesting.

F3 · balance_after: Pursuant to the terms of the Reporting Person's Separation Agreement filed with the SEC on August 15, 2019, the Issuer accelerated the vesting of 25% of the Reporting Person's previously granted restricted stock units. The remaining 17,314 unvested restricted stock units were forfeited. The Issuer withheld 2,573 restricted stock units to satisfy withholding obligations and the Reporting Person received the balance of 3,198 restricted stock units, in connection with this accelerated vesting.

SEC source: 0001567619-19-017961 · doc1.xml · nonDerivative · entry 2

Aberdale Andrew A. · CIK 0001763058 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 386,961

F3 · ownership.direct: Pursuant to the terms of the Reporting Person's Separation Agreement filed with the SEC on August 15, 2019, the Issuer accelerated the vesting of 25% of the Reporting Person's previously granted restricted stock units. The remaining 17,314 unvested restricted stock units were forfeited. The Issuer withheld 2,573 restricted stock units to satisfy withholding obligations and the Reporting Person received the balance of 3,198 restricted stock units, in connection with this accelerated vesting.

SEC source: 0001567619-19-017961 · doc1.xml · nonDerivative · entry 1

Aberdale Andrew A. · CIK 0001763058 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 389,534

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: 0001567619-19-017963 · doc1.xml · derivative · entry 2

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 171,429

Underlying: Common Stock · 171,429 shares

Expires 2029-09-03

F3 · derivative.exercise_date: The stock options ("Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of September 3, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on September 3, 2020, 2021, 2022 and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001567619-19-017963 · doc1.xml · derivative · entry 1

Kalamaras Eric · CIK 0001472318 · EVP and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 130,294

Underlying: Common Stock · 130,294 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 September 3, 2019, the Reporting Person was granted 48,860 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on September 3, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on September 3, 2019, the compensation committee granted a legacy retention buyout award of 81,434 restricted stock units pursuant to the employment agreement entered into by and between Mr. Kalamaras and the Company on August 12, 2019, which will vest March 15, 2020.

F2 · derivative.expiration_date: On September 3, 2019, the Reporting Person was granted 48,860 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on September 3, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on September 3, 2019, the compensation committee granted a legacy retention buyout award of 81,434 restricted stock units pursuant to the employment agreement entered into by and between Mr. Kalamaras and the Company on August 12, 2019, which will vest March 15, 2020.

SEC source: 0001567619-19-017787 · doc1.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 61,169

Underlying: Common Stock · 5,000 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: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

F3 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

SEC source: 0001567619-19-017787 · doc1.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,076,311

F2 · shares: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units. Stock price reflects closing stock price as of Friday, 08/30/2019 as vesting occurred on Sunday, 09/01/2019.

F2 · price: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units. Stock price reflects closing stock price as of Friday, 08/30/2019 as vesting occurred on Sunday, 09/01/2019.

SEC source: 0001567619-19-017787 · doc1.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,078,278

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: 0001104659-19-047375 · a4.xml · nonDerivative · entry 1

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,370,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.90 to $5.99, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-047102 · a4.xml · nonDerivative · entry 1

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,000

SEC source: 0001104659-19-047203 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,073,278

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.23 to $6.25, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-046649 · a4.xml · nonDerivative · entry 1

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 50,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.66 to $6.75, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-046719 · a4.xml · nonDerivative · entry 1

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,350,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.58 to $6.70, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-046852 · a4.xml · nonDerivative · entry 1

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,000

SEC source: 0001104659-19-046543 · a4.xml · nonDerivative · entry 2

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 40,000

F2 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.83 to $7.12, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2) to this Form 4.

SEC source: 0001104659-19-046475 · a4.xml · nonDerivative · entry 1

Baker Eli · CIK 0001615015 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 814,500

SEC source: 0001104659-19-046614 · a4.xml · nonDerivative · entry 1

Lindsay Gary · CIK 0001723793 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,935

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.85 to $7.05, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-046422 · a4.xml · nonDerivative · entry 1

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,325,000

SEC source: 0001104659-19-046543 · a4.xml · nonDerivative · entry 1

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.97 to $7.00, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-046473 · a4.xml · nonDerivative · entry 1

Robertson Stephen · CIK 0001409360 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 64,903,865

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.24 to $7.00, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

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"). 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.

F3 · 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").

F4 · ownership.nature: Algeco Investments 3 holds 40% of the share capital of Algeco, and Algeco Investments 2 holds the remaining 60%.

F5 · ownership.nature: TDR Capital II Investments LP, as the controlling shareholder of Algeco Holdings may be deemed the beneficial owner of the shares of the Issuer's common stock held by Algeco. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such shares of common stock 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 shares of common stock of the Issuer held by Arrow and Algeco.

F6 · ownership.nature: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson and Manjit Dale (the "TDR Persons") may be deemed to be the beneficial owner of all or a portion of the securities of the Issuer held by Arrow and Algeco. Mr. Robertson disclaims beneficial ownership of the securities of the Issuer held by Arrow and Algeco, except to the extent of 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, Mr. Robertson is the beneficial owners of any of the securities held by Arrow and Algeco reported herein.

SEC source: 0001104659-19-046474 · a4.xml · nonDerivative · entry 1

Lindsay Gary · CIK 0001723793 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,000

F1 · price: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.80 to $7.00, inclusive. The reporting person undertakes to provide Target Hospitality Corp., any security holder of Target Hospitality Corp., or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1) to this Form 4.

SEC source: 0001104659-19-043975 · a4.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 66,169

Underlying: Common Stock · 5,000 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: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

F3 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

SEC source: 0001104659-19-043975 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,009,194

F2 · shares: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units.

SEC source: 0001104659-19-043975 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,011,161

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: 0001104659-19-039325 · a4.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 71,169

Underlying: Common Stock · 5,000 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: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

F3 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

SEC source: 0001104659-19-039325 · a4.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,006,161

F2 · shares: Restricted stock units withheld for payment of tax liability upon vesting of 5,000 restricted stock units.

SEC source: 0001104659-19-039325 · a4.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,007,528

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: 0001104659-19-031472 · a4.xml · derivative · entry 1

STUDDERT ANDREW P · CIK 0001053465 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,929

Underlying: Common Stock · 10,929 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 May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

SEC source: 0001104659-19-031476 · a4.xml · derivative · 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.

Disclosed balance after: 38,251

Underlying: Common Stock · 38,251 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 · kind: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · kind: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · shares: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · shares: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · price: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · price: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · derivative.exercise_date: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · derivative.exercise_date: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · derivative.expiration_date: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · derivative.expiration_date: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F4 · 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.

F5 · ownership.direct: 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").

F6 · ownership.direct: Algeco Investments 3 holds 40% of the share capital of Algeco Investments B.V. ("Algeco"), and Algeco Investments 2 holds the remaining 60%.

F7 · 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, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F8 · ownership.direct: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson 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: 0001104659-19-031462 · a4.xml · derivative · entry 2

Lewis Heidi Diane · CIK 0001765471 · Exe. VP, Gen. Counsel & Secr.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,941

Underlying: Common Stock · 29,941 shares

Expires 2029-05-21

F3 · derivative.exercise_date: The stock options (the "Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of May 21, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001104659-19-031462 · a4.xml · derivative · entry 1

Lewis Heidi Diane · CIK 0001765471 · Exe. VP, Gen. Counsel & Secr.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,234

Underlying: Common Stock · 9,234 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 May 21, 2019, the Reporting Person was granted 9,234 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 9,234 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

SEC source: 0001104659-19-031467 · a4.xml · derivative · entry 2

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 29,941

Underlying: Common Stock · 29,941 shares

Expires 2029-05-21

F3 · derivative.exercise_date: The stock options (the "Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of May 21, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001104659-19-031467 · a4.xml · derivative · entry 1

Vlacich Jason Paul · CIK 0001763039 · Chief Accounting Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,234

Underlying: Common Stock · 9,234 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 May 21, 2019, the Reporting Person was granted 9,234 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 9,234 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

SEC source: 0001104659-19-031461 · a4.xml · derivative · entry 2

Aberdale Andrew A. · CIK 0001763058 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 74,851

Underlying: Common Stock · 74,851 shares

Expires 2029-05-21

F3 · derivative.exercise_date: The stock options (the "Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of May 21, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001104659-19-031461 · a4.xml · derivative · entry 1

Aberdale Andrew A. · CIK 0001763058 · Chief Financial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,085

Underlying: Common Stock · 23,085 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 May 21, 2019, the Reporting Person was granted 23,085 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 23,085 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

SEC source: 0001104659-19-031455 · a4.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: 38,251

Underlying: Common Stock · 27,322 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: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Gary Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant. Mr. Lindsay's grant of restricted stock units and subsequent transfer of such units to Arrow is reported on a separate Form 4 filed by Mr. Lindsay on the date hereof.

F2 · derivative.exercise_date: On May 21, 2019, the Reporting Person was granted 27,322 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 27,322 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · balance_after: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Gary Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant. Mr. Lindsay's grant of restricted stock units and subsequent transfer of such units to Arrow is reported on a separate Form 4 filed by Mr. Lindsay on the date hereof.

F4 · 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.

F5 · ownership.direct: 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").

F6 · ownership.direct: Algeco Investments 3 holds 40% of the share capital of Algeco Investments B.V. ("Algeco"), and Algeco Investments 2 holds the remaining 60%.

F7 · 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, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F8 · ownership.direct: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson 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: 0001104659-19-031455 · a4.xml · derivative · entry 1

Robertson Stephen · CIK 0001409360 · Director · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,322

Underlying: Common Stock · 27,322 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 May 21, 2019, the Reporting Person was granted 27,322 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 27,322 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

SEC source: 0001104659-19-031473 · a4.xml · derivative · entry 1

SAGANSKY JEFFREY · CIK 0001207119 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,929

Underlying: Common Stock · 10,929 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 May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

SEC source: 0001104659-19-031471 · a4.xml · derivative · entry 1

Jimmerson Martin L. · CIK 0001506689 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,929

Underlying: Common Stock · 10,929 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 May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

SEC source: 0001104659-19-031474 · a4.xml · derivative · entry 1

Baker Eli · CIK 0001615015 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,929

Underlying: Common Stock · 10,929 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 May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

SEC source: 0001104659-19-031477 · a4.xml · derivative · 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.

Disclosed balance after: 38,251

Underlying: Common Stock · 38,251 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 · kind: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · kind: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · shares: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · shares: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · price: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · price: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · derivative.exercise_date: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · derivative.exercise_date: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · derivative.expiration_date: Restricted stock units granted to Stephen Robertson and Gary Lindsay pursuant to the Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreements between the Issuer and each of Mr. Robertson and Mr. Lindsay dated as of May 21, 2019. These restricted stock units comprise part of the Issuer's annual compensation program for non-executive directors and, subject to the terms and conditions of such plan and award agreement, the restricted stock units 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 certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F3 · derivative.expiration_date: Immediately following the grant of the restricted stock units, each of Mr. Robertson and Mr. Lindsay transferred the restricted stock units to Arrow Holding S.a r.l ("Arrow") which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F4 · 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.

F5 · ownership.direct: 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").

F6 · ownership.direct: Algeco Investments 3 holds 40% of the share capital of Algeco Investments B.V. ("Algeco"), and Algeco Investments 2 holds the remaining 60%.

F7 · 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, Stephen Robertson and Manjit Dale may be deemed the beneficial owners of such securities of the Issuer held by Arrow and Algeco.

F8 · ownership.direct: Each of TDR Capital II Investments LP, TDR Capital LLP, Stephen Robertson 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: 0001104659-19-031459 · a4.xml · derivative · entry 3

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 104,791

Underlying: Common Stock · 104,791 shares

Expires 2029-05-21

F3 · derivative.exercise_date: The stock options (the "Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of May 21, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001104659-19-031459 · a4.xml · derivative · entry 2

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 32,318

Underlying: Common Stock · 32,318 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 May 21, 2019, the Reporting Person was granted 32,318 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 32,318 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person.

SEC source: 0001104659-19-031459 · a4.xml · nonDerivative · entry 1

Schrenk Troy C. · CIK 0001763047 · Chief Commercial Officer

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,200

SEC source: 0001104659-19-031458 · a4.xml · derivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 149,701

Underlying: Common Stock · 149,701 shares

Expires 2029-05-21

F3 · derivative.exercise_date: The stock options (the "Options"), reported on this Form 4, represent the right upon vesting to buy shares of Common Stock pursuant to the terms and conditions of the Plan and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of May 21, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, subject to the terms and conditions of the Plan and Option Award Agreement.

SEC source: 0001104659-19-031458 · a4.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 76,169

Underlying: Common Stock · 76,169 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 May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 46,169 restricted stock units which vest in four equal annual installments on each of the first four anniversaries of the grant date, on May 21, 2020, 2021, 2022, and 2023, 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 the Issuer and the Reporting Person. In addition to the RSU award granted by the compensation committee on May 21, 2019, the compensation committee approved Mr. Archer's election to receive his annual base salary prorated for the remainder of 2019 in the form of 30,000 RSUs, pursuant to the employment agreement entered into by and between Mr. Archer and the Company on January 29, 2019, which will vest in six equal installments on the first of each month, beginning on July 1, 2019 through December 1, 2019.

SEC source: 0001104659-19-031457 · a4.xml · derivative · entry 2

Lindsay Gary · CIK 0001723793 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Common Stock · 10,929 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: Immediately following the grant of the restricted stock units, Mr. Lindsay transferred the restricted stock units to Arrow Holdings S.a r.l ("Arrow"), which holds certain equity 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 will vest in accordance with the same terms and conditions of the initial grant.

F2 · derivative.exercise_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.

F2 · derivative.expiration_date: On May 21, 2019, the Reporting Person was granted 10,929 restricted stock units 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 terms and conditions of the previously disclosed Target Hospitality Corp. 2019 Incentive Award Plan and the Restricted Stock Unit Agreement entered into between the Issuer and the Reporting Person. Subject to certain exceptions, vested shares will be delivered upon separation of service from the Board of Directors of the Issuer.