Target Hospitality Corp. · NASDAQ:TH
Target Hospitality — Investor Presentation (September 2026)
22 slides from Target Hospitality's investor presentation, September 2026
Slide 1: Investor Presentation September 2026
INVESTOR PRESENTATION September 2026
Slide 2: Disclaimer
Disclaimer Cautionary Statement Regarding Forward-Looking Statements This presentation contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements.” You can identify these statements by the fact tha
Slide 3: Target Hospitality Company Overview
Target Hospitality Company Overview One of North America’s Largest Providers of Comprehensive Hospitality Solutions Target 12 Provides Major Workforce Recruitment and Retention Benefits • Leading vertically integrated provider of modular workforce accommodations and value-added Providing critical se
Slide 4: Data Center Race Establishes Distinct Growth Vertical
Data Center Race Establishes Distinct Growth Vertical Market Dilemma Target Hospitality Opportunity Accelerating data center demand, coupled with lagging Target Hyper/Scale Provides Scalable, Fully Integrated supply, is expected to create a significant deficit by 2030 Solutions on Demand for Data Ce
Slide 5: Business Transformation Through Strategic Initiatives
Business Transformation Through Strategic Initiatives Strategic Business Enhancement and Commercial Realignment Position Target Hospitality for Growth Daily Rate ~$70 Launched price optimization initiatives to Renewed focus on more complex projects >$100 Optimization HFS Segment better align rates w
Slide 6: We Solve our Customers' Most Challenging Problems
We Solve our Customers’ Most Challenging Problems 1 2 3 4 5 “Help Us Attract and “Deliver Turn-Key “Our Project Just “We Need a Partner “Our Workers Need Customer Retain Skilled Labor Solutions so We Received Approval; Who Can Scale in to be Safe and Need at Scale in Remote Can Focus on Our We Need
Slide 7: Our Fleet Enables us to Grow Alongside our Customers
Our Fleet Enables us to Grow Alongside our Customers Target 250 650 1,050 1,500+ Hospitality Individuals Individuals Individuals Individuals Rapidly Deploys and Initial Data Center Finalized first community Second expansion underway Embedded infrastructure to Integrates a Community Contract expansio
Slide 8: Scaled Network with Strategic Regional Density
Scaled Network with Strategic Regional Density North America Hospitality Locations 29 Total Communities (1) Across North America Target Hospitality Enables Our Customers to Attract and Retain Employees in Hard-to-Recruit Geographies by Offering Turnkey Solutions and Best-in-Class Amenities Target Ho
Slide 9: Targeting 100% Uptime Even in Challenging Situations
Targeting 100% Uptime Even in Challenging Situations Target Hospitality Communities are Purpose Built for the Unexpected Case Study: 2026 Snowstorm in Texas • Unexpected snowstorm hits Texas • Widespread road closures with no traffic in or out of the facility • Zero access to outside services during
Slide 10: Robust Unit Economics with Minimal Maint. CapEx
Robust Unit Economics with Minimal Maint. CapEx Illustrative Unit Level Cash Flow Profile1 Illustrative Community Statistics Inputs Outputs $47K $105 / $58 $1.2K $18K 7.6x <3 Capex ADR / COGS Yearly Maint. Cash Flow per Unlevered Year Payback 500 •Total Beds per Bed per Bed Cost per Bed Bed per Year
Slide 11: Growth Opportunities
—C— ae GROWTH OPPORTUNITIES
Slide 12: Leverage Unique Strategic Advantages to Drive Growth
Leverage Unique Strategic Advantages to Drive Growth Strategic regional presence with Perform all on-site services network density in key geographies in-house to ensure consistent, enables rapid mobilization with high-quality solutions enhanced operational efficiencies Presence in Hundreds High-Acti
Slide 13: Key Drivers of Outsized Growth Opportunity
Key Drivers of Outsized Growth Opportunity Unique Unmatched Capabilities Services Inorganic M&A Opportunities Infrastructure, Holistic Critical Mineral Solutions Development and National Data Center Security Infrastructure Tailwinds from Opportunities $7Tn (1) of Committed Infrastructure Further Inv
Slide 14: Executing Against a Robust Opportunity Pipeline
Executing Against a Robust Opportunity Pipeline Current Contract Opportunity Pipeline (1) Recent Contract Announcements August 2026 – Pecos Hyperscaler Contract Revenue Announced a four-year, ~1,100-bed agreement to provide workforce accommodations and all-inclusive hospitality solutions supporting
Slide 15: Financial Strength
FINANCIAL STRENGTH
Slide 16: Strong Financial Position Supports Growth Initiatives
Strong Financial Position Supports Growth Initiatives New $660 Million1 Credit Facility Significantly Expands Liquidity to Support Strategic Growth Consistently Enhancing Financial Strength Capitalization and Liquidity $MM 06/30/2026 As of June 30, 2026, total available liquidity of approximately
Slide 17: Appendix
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Slide 18: Case Study: Diversification and Regional Expansion
Case Study: Diversification and Regional Expansion WHS Segment Broadens Customer Base and Geographic Reach Multi-Year Workforce Hub Contract Supporting Critical Mineral Development Thacker Pass Winnemucca 2,000 Strategically located in Winnemucca, Nevada, ~60 miles from Thacker Pass, the world’s l
Slide 19: Proven Solutions with Growing End-Market Presence
Proven Solutions with Growing End-Market Presence Workforce Hospitality Solutions - WHS Hospitality and Facilities Services (1) - HFS Government Services • Serving a diverse set of customers across critical • 20 all-inclusive, full-turnkey communities, primarily • Subcontractor to multiple federal a
Slide 20: Vertically Integrated Solutions Across Key End Markets
Vertically Integrated Solutions Across Key End Markets Customized and Purpose-Built Solutions Premium Hospitality Services and Offerings Design Develop Build Operate Service Manage Site Selection & Civil Full Utility Capabilities Real Estate Acquisition Holistic Remote Multiple 24/7 Culina
Slide 21: Definitions
Definitions Definitions: Target Hospitality defines Adjusted gross profit, as Gross profit plus depreciation of specialty rental assets, loss on impairment, and certain severance costs. Target Hospitality defines EBITDA as net income (loss) before interest expense and loss on extinguishment of debt,
Slide 22: Target
TARGET - t T |
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