X0306 4 2020-03-04 0 0001712189 Target Hospitality Corp. TH 0001472318 Kalamaras Eric 2170 BUCKTHORNE PLACE SUITE 440 THE WOODLANDS TX 77380 0 1 0 0 EVP and CFO Restricted Stock Units 2020-03-04 4 A 0 64240 0.00 A Common Stock 64240 194534 D Stock Options (right to buy) 4.51 2020-03-04 4 A 0 238096 0.00 A 2030-03-04 Common Stock 238096 238096 D 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. On March 4, 2020, the Reporting Person was granted by the Compensation Committee 64,240 RSUs 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 entered into between Issuer and the Reporting Person. Total includes in addition of the grant of 64,240 RSUs on March 4, 2020, 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 Agreement entered into between the Issuer and the Reporting Person, and 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. 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 September 3, 2019 (the "Option Award Agreement"). The Options vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021. /s/ Heidi D. Lewis, as Attorney-in-Fact on behalf of Eric T. Kalamaras 2020-03-06