You need to export the variable name, not the value.
You can either export the name for all sub processes with the GNU Make `export` statement
export TargetLocation
If you want the value just for one rule, then your statement must be regular shell syntax
export TargetLocation="$(TargetLocation)"; \
./EditHtml.sh
In this case, depending on the content of the variable, quotes may be necessary, and it would still be vulnerable if there may be arbitrary values for the variable. On the other hand, if make runs with the privileges of the invoking user, there is no additional danger.