Target Hospitality Corp.

Capital Management The Company had approximately $6.0 million of capital expenditures for the three months ended June 30, 2025, primarily focused on enhancing asset capabilities aligned with its strategic diversification initiatives.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

As of June 30, 2025, the Company had approximately $19 million of cash and cash equivalents and borrowings of approximately $24 million on the Company s $175 million credit facility, total available liquidity of approximately $170 million and a net leverage ratio of 0.1 times.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Target Hospitality defines EBITDA as net income (loss) before interest expense and loss on extinguishment of debt, income tax expense (benefit), depreciation of specialty rental assets, and other depreciation and amortization.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

During 2025, such transaction costs primarily related to legal, advisory and audit-related fees associated with debt related transaction activity associated with the 2025 Senior Secured Notes that were redeemed and paid off on March 25, 2025, and, to a lesser extent, other business development project related transaction activity and remaining costs associated with the Arrow Proposal.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Utility and Purposes : EBITDA reflects Net income (loss) excluding the impact of interest expense and loss on extinguishment of debt, provision for income taxes, depreciation, and amortization.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

We believe that EBITDA is a meaningful indicator of operating performance because we use it to measure our ability to service debt, fund capital expenditures, and expand our business.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

htm EX-99.1 Exhibit 99.1 Target Hospitality Announces Second Quarter 2025 Results and Raises Full-Year 2025 Outlook, Reflecting Continued Progress on Strategic Diversification Initiatives THE WOODLANDS, Texas, August 7, 2025 (PRNewswire) Target Hospitality Corp.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

2025 Operational Achievements Target announced over $400 million in multi-year contracts in 2025, supporting diverse end-markets and making substantial progress toward achieving key strategic initiatives.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Announced 5-year $246 million contract award, reactivating strategically located South Texas assets in Dilley, Texas, supporting critical U.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

government initiatives ( Dilley Contract ).

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Executive Commentary We have made remarkable progress in our strategic initiatives to expand and diversify Target s business portfolio.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements.

SEC original ↗Target Hospitality Corp. — Earnings release (8-K exhibit)EX-99Aug 7, 2025

Legal Proceedings 57 Item 1A.

SEC original ↗Target Hospitality Corp. — 10-Q Quarterly report10-QAug 10, 2026

Commitments and Contingencies The Company is involved in various lawsuits or claims in the ordinary course of business.

SEC original ↗Target Hospitality Corp. — 10-Q Quarterly report10-QAug 10, 2026

Management is of the opinion that there is no pending claim or lawsuit which, if adversely determined, would have a material impact on the financial condition of the Company.

SEC original ↗Target Hospitality Corp. — 10-Q Quarterly report10-QAug 10, 2026