Target Hospitality (TH) Investor presentation summary

Company overview and market positioning

• Leading vertically integrated provider of modular workforce accommodations and hospitality services, serving remote and expansive geographies with turnkey solutions and a specialty rental fleet requiring minimal maintenance capex.

• Strategic alignment with growing end markets such as data center construction, critical mineral development, and national security programs.

• 2026 revenue outlook: $370–$380M from workforce hospitality, $75–$85M from hospitality/facilities services, and $460–$480M total revenue; adjusted EBITDA and capex guidance provided.

Growth strategy and opportunity pipeline

• Focus on daily rate optimization, contract structure enhancements, and expanding take-or-pay contracts to increase revenue visibility and customer retention.

• Expansion into new geographies and end markets, leveraging megatrends like AI and data center growth, with an estimated $18B total addressable market for data center-related hospitality services.

• Robust pipeline with recent multi-year contracts supporting AI infrastructure, data centers, and power generation, including agreements with top hyperscalers and critical mineral developers.

Operational capabilities and customer solutions

• Rapid deployment and scalable fleet enable community expansions from 250 to 1,500+ individuals within months, supporting evolving project needs.

• Communities are designed for 100% uptime, with backup power, food, water, and emergency support, as demonstrated during a major Texas snowstorm.

• Vertically integrated services include site selection, construction, operations, security, and full facilities management.