X0306 4 2018-06-18 0 0001730346 Charah Solutions, Inc. CHRA 0001736920 Price Charles E 12601 PLANTSIDE DRIVE LOUISVILLE KY 40299 1 1 1 0 Chief Executive Officer 0001743574 CEP HOLDINGS, INC. 12601 PLANTSIDE DRIVE LOUISVILLE KY 40299 1 0 1 0 Common Stock 2018-06-18 4 A 0 4605465 A 4605465 I See Footnotes Such reporting person acquired these securities in accordance with that certain Master Reorganization Agreement, dated June 13, 2018, by and among Charah Solutions, Inc. (the "Issuer"), such reporting person and the other parties thereto. Shares held directly by CEP Holdings, Inc. Charles E. Price is the sole stockholder and director of CEP Holdings, Inc. and, in such capacity, may be deemed to be a beneficial owner of the common stock held by CEP Holdings, Inc. In connection with the closing of the Issuer's initial public offering, CEP Holdings, Inc. ("CEP Holdings") entered into the Stockholders' Agreement (the "Stockholders' Agreement"), pursuant to which CEP Holdings has the right to nominate Charles E. Price to the Board of Directors of the Issuer, subject to Mr. Price's continuing status as Chief Executive officer or ownership thresholds set forth in the Stockholders' Agreement. As a result, CEP Holdings, Inc. may be deemed a director by deputization for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended. In addition, the Reporting Persons may be deemed to be members of a group holding over 10% of the outstanding Common Stock of the Issuer for the purposes of Section 13(d)(3) of the Exchange Act. /s/ Charles E. Price, By: Bruce Kramer, authorized representative; /s/ Bruce Kramer 2018-06-20