# EDGAR Filing Document

**Accession Number:** 0001712189
**File Stem:** 0000950142-26-001173
**Filing Date:** 2026-4
**Character Count:** 26814
**Document Hash:** e26cc5a3a25e7221444c8e8b5fdfd79c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950142-26-001173.hdr.sgml**: 20260423

**ACCESSION NUMBER**: 0000950142-26-001173

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260423

**FILED AS OF DATE**: 20260423

**DATE AS OF CHANGE**: 20260423

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** DALE MANJIT
- **CENTRAL INDEX KEY:** 0001113203

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889662

**MAIL ADDRESS:**
- **STREET 1:** C/O TDR CAPITAL LLP
- **STREET 2:** 20 BENTINCK STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** W1U 2EU

**FORMER NAME:**
- **FORMER CONFORMED NAME:** MANJIT DALE
- **DATE OF NAME CHANGE:** 20000501
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** TDR Capital LLP
- **CENTRAL INDEX KEY:** 0001408159

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889665

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
- **BUSINESS PHONE:** 44-20-7399-4245

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MFA Limited Partnership SLP
- **CENTRAL INDEX KEY:** 0001765696

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1218

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889667

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **BUSINESS PHONE:** 4402039610905

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Modulaire Limited Partnership SLP
- **DATE OF NAME CHANGE:** 20211216

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Algeco Limited Partnership SLP
- **DATE OF NAME CHANGE:** 20190123
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Lindsay Gary
- **CENTRAL INDEX KEY:** 0001723793

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889663

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** TDR CAPITAL
- **STREET 2:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Sapphire Holding S.a r.l.
- **CENTRAL INDEX KEY:** 0001723829

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889664

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **ZIP:** L-2453
- **BUSINESS PHONE:** 44 20 7399 4245

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** C/O TDR CAPITAL LLP
- **STREET 2:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Mitchell Thomas Andrew
- **CENTRAL INDEX KEY:** 0002024710

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889661

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** C/O TDR CAPITAL
- **STREET 2:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MFA Global S.a.r.l.
- **CENTRAL INDEX KEY:** 0001766340

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1218

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889666

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **BUSINESS PHONE:** 4402039610905

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Modulaire Global S.a.r.l.
- **DATE OF NAME CHANGE:** 20211216

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Algeco Global S.a.r.l.
- **DATE OF NAME CHANGE:** 20190129
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MFA Holding S.a.r.l.
- **CENTRAL INDEX KEY:** 0001766820

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1218

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889668

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **BUSINESS PHONE:** 352 264932898

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Modulaire Holding S.a.r.l.
- **DATE OF NAME CHANGE:** 20211216

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Algeco Holding S.a.r.l.
- **DATE OF NAME CHANGE:** 20190204
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Arrow Holdings S.a.r.l.
- **CENTRAL INDEX KEY:** 0001767017

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** N4
- **FISCAL YEAR END:** 1218

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889669

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
- **BUSINESS PHONE:** 35226493298

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 RUE EUGENE RUPPERT
- **CITY:** LUXEMBOURG
- **PROVINCE COUNTRY:** N4
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** TDR Capital II Investments LP
- **CENTRAL INDEX KEY:** 0001771172

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** X0

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38343
- **FILM NUMBER:** 26889670

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
- **BUSINESS PHONE:** 442073994200

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 20 BENTINCK STREET
- **CITY:** LONDON
- **PROVINCE COUNTRY:** X0
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Target Hospitality Corp.
- **CENTRAL INDEX KEY:** 0001712189
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOTELS, ROOMING HOUSE, CAMPS & OTHER LODGING PLACES [7000]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 9320 LAKESIDE BLVD.
- **STREET 2:** SUITE 300
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381
- **BUSINESS PHONE:** 832 709-2563

**MAIL ADDRESS:**
- **STREET 1:** 9320 LAKESIDE BLVD.
- **STREET 2:** SUITE 300
- **CITY:** THE WOODLANDS
- **STATE:** TX
- **ZIP:** 77381

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Platinum Eagle Acquisition Corp.
- **DATE OF NAME CHANGE:** 20170718

## Exhibit 24.1

**EXHIBIT 24.1**

**<u>Power of Attorney</u>**

Know all by these presents that the undersigned hereby makes, constitutes and appoints each of Emma Gilks and Tom Mitchell, or either of them acting singly, and with full power of substitution, the undersigned's true and lawful attorney-in-fact to:

&nbsp;&nbsp;&nbsp;&nbsp;(1) execute for and on behalf of the undersigned such forms, schedules, statements and other documents as may be required to be filed from time to time with the U.S. Securities and Exchange Commission (the "SEC") with respect to Sections 13(d), 13(g) and 16(a) of the U.S. Securities Exchange Act of 1934, as amended, and the rules thereunder, including without limitation, Schedules 13D and 13G, and Forms 3, 4 and 5;

&nbsp;&nbsp;&nbsp;&nbsp;(2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Schedules 13D and 13G, and Forms 3, 4 and 5, complete and execute any amendment or amendments thereto, and timely file such form with the SEC and any securities exchange or similar authority; and

&nbsp;&nbsp;&nbsp;&nbsp;(3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Schedules 13D and 13G, and Forms 3, 4 and 5 with respect to the undersigned's holdings of and transactions in securities issued by Target Hospitality Corp., unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 8<sup>th</sup> day of April, 2024.

---

| | |
|:---|:---|
| MANJIT DALE |  |
| /s/ Manjit Dale | 8<sup>th</sup> April 2024 |
| Name: Manjit Dale | Date |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>TDR Capital II Investments LP<br><sub>(Last) (First) (Middle)</sub><br>C/O TDR CAPITAL LLP<br>20 BENTINCK STREET<br><sub>(Street)</sub><br>LONDON, UNITED KINGDOM W1U 2EU<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Arrow Holdings S.a.r.l.<br><sub>(Last) (First) (Middle)</sub><br>25C BOULEVARD ROYAL<br><sub>(Street)</sub><br>LUXEMBOURG, LUXEMBOURG L-2449<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>MFA Holding S.a.r.l.<br><sub>(Last) (First) (Middle)</sub><br>25C BOULEVARD ROYAL<br><sub>(Street)</sub><br>LUXEMBOURG, LUXEMBOURG L-2449<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>MFA Limited Partnership SLP<br><sub>(Last) (First) (Middle)</sub><br>25C BOULEVARD ROYAL<br><sub>(Street)</sub><br>LUXEMBOURG, LUXEMBOURG L-2449<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>MFA Global S.a.r.l.<br><sub>(Last) (First) (Middle)</sub><br>25C BOULEVARD ROYAL<br><sub>(Street)</sub><br>LUXEMBOURG, LUXEMBOURG L-2449<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>TDR Capital LLP<br><sub>(Last) (First) (Middle)</sub><br>C/O TDR CAPITAL LLP<br>20 BENTINCK STREET<br><sub>(Street)</sub><br>LONDON, UNITED KINGDOM W1U 2EU<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Sapphire Holding S.a r.l.<br><sub>(Last) (First) (Middle)</sub><br>25C BOULEVARD ROYAL<br><sub>(Street)</sub><br>LUXEMBOURG, LUXEMBOURG L-2449<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Lindsay Gary<br><sub>(Last) (First) (Middle)</sub><br>C/O TDR CAPITAL LLP<br>20 BENTINCK STREET<br><sub>(Street)</sub><br>LONDON, UNITED KINGDOM W1U 2EU<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>DALE MANJIT<br><sub>(Last) (First) (Middle)</sub><br>C/O TDR CAPITAL LLP<br>20 BENTINCK STREET<br><sub>(Street)</sub><br>LONDON, UNITED KINGDOM W1U 2EU<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Mitchell Thomas Andrew<br><sub>(Last) (First) (Middle)</sub><br>C/O TDR CAPITAL LLP<br>20 BENTINCK STREET<br><sub>(Street)</sub><br>LONDON, UNITED KINGDOM W1U 2EU<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-23 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [X] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Target Hospitality Corp. [ TH ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock, par value $0.0001 per share | 2026-04-23 |  | J<sup>(1)</sup> |  | 8050000 | D | $13.265 | 56576003<sup>(2)</sup> | I | See footnotes<sup>(3)(4)(5)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) On April 23, 2026, MFA Global S.a r.l. (in liquidation) ("MFA Global") and Arrow Holdings S.a r.l. ("Arrow") sold an aggregate of 8,050,000 shares of common stock of the Issuer (including 1,050,000 shares of common stock pursuant to the underwriters' option to purchase additional shares), par value $0.0001 per share (the "Common Stock"), in an underwritten public offering pursuant to the prospectus supplement dated April 21, 2026, and accompanying registration statement on Form S-3 (File No. 333-230795). The shares were sold at a price of $13.265 per share.

(2) On April 23, 2026, MFA Global S.a r.l. ("MFA Global") and Arrow Holdings S.a r.l. ("Arrow") sold an aggregate of 8,050,000 shares of common stock of the Issuer (including 1,050,000 shares of common stock pursuant to the underwriters' option to purchase additional shares), par value $0.0001 per share (the "Common Stock"), in an underwritten public offering pursuant to the prospectus supplement dated April 21, 2026, and accompanying registration statement on Form S-3 (File No. 333-230795). The shares were sold at a price of $13.265 per share.

(3) As the controlling shareholder of Arrow, TDR Capital II Investments LP, may be deemed the beneficial owner of the securities of the Issuer held by Arrow. Sapphire Holding S.a r.l. is the direct shareholder of Arrow and wholly owned by TDR Capital II Investments LP.

(4) MFA Holdings S.a r.l. ("MFA Holdings") is the controlling shareholder of MFA Limited Partnership SLP ("MFA SLP" and together with MFA Holdings and MFA Global, the "MFA Entities"), which is the controlling shareholder of MFA Global. TDR Capital II Investments LP, as the controlling shareholder of MFA Holdings, may be deemed the beneficial owner of the securities of the Issuer held by MFA Global. As manager of TDR Capital II Investments LP, TDR Capital LLP may be deemed the beneficial owner of such securities of the Issuer held by Arrow and MFA Global. As a founding partner of TDR Capital LLP, Manjit Dale may be deemed the beneficial owner of such securities of the Issuer held by Arrow and MFA Holdings. As managing partners of TDR Capital LLP, Gary Lindsay and Thomas Mitchell may be deemed the beneficial owners of such securities of the Issuer held by Arrow and MFA Holdings.

(5) Each of TDR Capital II Investments LP, TDR Capital LLP, Manjit Dale, Gary Lindsay and Thomas Mitchell (the "TDR Persons") may be deemed the beneficial owner of all or a portion of the securities reported herein. Each of the TDR Persons disclaims beneficial ownership of the securities of the Issuer, except to the extent of its or his pecuniary interest therein. The filing of this report shall not be deemed an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or otherwise, the TDR Persons are the beneficial owners of any of the securities reported herein.

**Remarks:**
Exhibit 24.1: Power of Attorney

**Signature:** TDR Capital LLP, By: /s/ Blair Thompson, Name: Blair Thompson, Title: Partner  
**Date:** 2026-04-23

**Signature:** Arrow Holdings S.a r.l., By: /s/ Evelina Jakstas, Name: Evelina Jakstas, Title: Class A Manager  
**Date:** 2026-04-23

**Signature:** MFA Holding S.a r.l., By: /s/ Evelina Jakstas, Name: Evelina Jakstas, Title: Class A Manager  
**Date:** 2026-04-23

**Signature:** MFA Limited Partnership SLP, By: /s/ Evelina Jakstas, Name: Evelina Jakstas, Title: Manager, MFA G.P. S.a r.l.  
**Date:** 2026-04-23

**Signature:** MFA Global S.a r.l. (in liquidation), By: /s/ Evelina Jakstas, Name: Evelina Jakstas, Title: Liquidator  
**Date:** 2026-04-23

**Signature:** TDR Capital II Investments LP, By: /s/ Blair Thompson, Name: Blair Thompson, Title: Partner, TDR Capital LLP acting in its capacity as fund manager  
**Date:** 2026-04-23

**Signature:** Sapphire Holding S.a r.l., By: /s/ Evelina Jakstas, Name: Evelina Jakstas, Title: Class A Manager  
**Date:** 2026-04-23

**Signature:** /s/ Gary Lindsay  
**Date:** 2026-04-23

**Signature:** /s/ Emma Gilks, as attorney-in-fact for Manjit Dale  
**Date:** 2026-04-23

**Signature:** /s/ Thomas Mitchell  
**Date:** 2026-04-23

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**