Target Hospitality disbands Special Committee, ends evaluation of TDR's $10.80/share takeover offer

Target Hospitality Corp.

Board disbands Special Committee created to evaluate unsolicited $10.80/share cash offer from Arrow (TDR) made March 24, 2024.
No formal offers received after loss of a contract; Arrow did not reaffirm or advance alternative proposal.
Company reaffirms 2024 guidance outlook based on year-to-date operating results and strong fundamentals.
Focus shifts to capital allocation for high-return initiatives, including in-organic growth and M&A pipeline.
Cannot predict future actions from Arrow, TDR, or others regarding a potential acquisition.

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