ESSEX EQUITY HOLDINGS, LLC

SEC source: 0001214659-26-002402 · marketforms-72325.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 13,103

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2026 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $7.64, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 10,430 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 2,673 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-25-017216 · marketforms-71350.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 12,449

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2026 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $7.30, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 10,430 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 2,019 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-25-012456 · marketforms-70312.xml · nonDerivative · entry 2

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 14,282

F2 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2026 (the "Settlement Date").

F3 · shares: The number of DSUs received was calculated based on $7.67, which was the closing price of the Issuer's Common Stock on the date of grant.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 10,430 shares of Common Stock underlying RSUs and 3,852 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-25-012456 · marketforms-70312.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 13,631

F1 · kind: The Shares being reported represent Restricted Stock Units ("RSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each RSU represents a contingent right to receive one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The RSUs were issued in connection with Mr. Taylor's annual equity compensation for service as a non-employee director. The RSUs will vest on July 28, 2026, subject to Mr. Taylor's continued service on the board of directors (the "Board") of the Issuer on such date.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 10,430 shares of Common Stock underlying RSUs and 3,852 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-25-009070 · marketforms-69908.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 14,436

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2026 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $7.30, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 11,235 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 3,201shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-25-003060 · marketforms-68244.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 13,752

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2025 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $8.04, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 11,235 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 2,517 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-24-018744 · marketforms-67319.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 13,131

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2025 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $9.00, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 11,235 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 1,896 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-24-014321 · marketforms-66777.xml · nonDerivative · entry 2

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 12,576

F2 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Plan to Ryan P. Taylor. Each DSU is the economic equivalent of one share of Common Stock of the Issuer. The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2025 (the "Settlement Date").

F3 · shares: The number of DSUs received was calculated based on $7.12, which was the closing price of the Issuer's Common Stock on the date of grant.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 11,235 shares of Common Stock underlying RSUs and 1,341 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-24-014321 · marketforms-66777.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 11,874

F1 · kind: The Shares being reported represent Restricted Stock Units ("RSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each RSU represents a contingent right to receive one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The RSUs were issued in connection with Mr. Taylor's annual equity compensation for service as a non-employee director. The RSUs will vest on July 28, 2025, subject to Mr. Taylor's continued service on the board of directors (the "Board") of the Issuer on such date.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 11,235 shares of Common Stock underlying RSUs and 1,341 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-24-010810 · marketforms-66317.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 18,841

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2025 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $7.82, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 14,953 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 3,888 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-24-003214 · marketforms-64795.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 18,202

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 29, 2024 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $6.96, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 14,953 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 3,249 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-015419 · marketforms-63536.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 17,484

F1 · kind: The Shares being reported represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 29, 2024. (the "Settlement Date")

F2 · shares: The number of DSUs received was calculated based on $6.00, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transaction includes 14,953 shares of Common Stock underlying Restricted Stock Units ("RSUs") and 2,531 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-011571 · marketforms-62266.xml · nonDerivative · entry 2

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · 10% owner

Taylor Ryan P. · CIK 0001501578 · 10% owner

LIU JOHN D · CIK 0001288449 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 16,651

F2 · kind: Represents Deferred Stock Units ("DSUs") awarded under the Plan to Ryan P. Taylor. Each DSU is the economic equivalent of one share of Issuer's Common Stock. The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 29, 2024 (the "Settlement Date").

F3 · shares: The number of DSUs received was calculated based on $5.35, which was the closing price of the Issuer's Common Stock on the date of grant.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 764 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the" Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-011571 · marketforms-62266.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · 10% owner

Taylor Ryan P. · CIK 0001501578 · 10% owner

LIU JOHN D · CIK 0001288449 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 15,717

F1 · kind: The Shares being reported represents Restricted Stock Units ("RSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each RSU represents a contingent right to receive one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The RSUs were issued in connection with Mr. Taylor's annual equity compensation for service as a non-employee director. The RSUs will vest on July 28, 2024, subject to Mr. Taylor's continued service on the board of directors (the "Board") of the Issuer on such date.

F4 · ownership.nature: Amount of securities beneficially owned following the reported transactions includes 764 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the" Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-008297 · marketforms-61762.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See Footnote

Disclosed balance after: 16,449

F1 · kind: The shares being reported on this Form 4 represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 29, 2024. (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $6.54, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transaction includes 12,578 shares of Common Stock underlying Restricted Stock Units ("RSUs") awarded under the Plan to Mr. Taylor and 3,871 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-002912 · marketforms-59587.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 15,685

F1 · kind: The shares being reported on this Form 4 represent Deferred Stock Units ("DSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each DSU is the economic equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The DSUs were issued in connection with Mr. Taylor's quarterly compensation for service as a non-employee director. Mr. Taylor elected to receive payment of his quarterly compensation in DSUs in lieu of cash. The DSUs will be settled in shares of Common Stock on July 28, 2023 (the "Settlement Date").

F2 · shares: The number of DSUs received was calculated based on $6.99, which was the closing price of the Issuer's Common Stock on the date of grant.

F3 · ownership.nature: Amount of securities beneficially owned following the reported transaction includes 12,578 shares of Common Stock underlying Restricted Stock Units ("RSUs") awarded under the Plan to Mr. Taylor and 3,107 shares of Common Stock underlying DSUs awarded to Mr. Taylor for service as a non-employee director of the Issuer. Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the"Fund"), Mr. Taylor has directed the Issuer to transfer shares issued upon settlement of the RSUs and DSUs into the account of the Fund on the applicable Settlement Date. Mr. Taylor disclaims beneficial ownership of the underlying shares except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-008552 · marketforms-56600.xml · nonDerivative · entry 2

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 418,576

F8 · price: The 17,078 Shares reported on this Form 4 were purchased in multiple trades at prices ranging from $6.39 to $6.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-008552 · marketforms-56600.xml · nonDerivative · entry 1

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 401,498

F1 · price: The 92,413 shares of common stock, par value $0.0001 per share (the "Shares"), of Reservoir Media, Inc. (the "Issuer") reported on this Form 4 were purchased in multiple trades at prices ranging from $6.10 to $6.74 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-23-006499 · marketforms-61381.xml · nonDerivative · entry 1

ER Reservoir LLC · CIK 0001875478 · 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

Richmond Hill Investment Co., LP · CIK 0001501577 · May be deemed a 10% owner

Richmond Hill Capital Management, LLC · CIK 0001501573 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 13,604,733

F1 · kind: The shares being reported on this Form 5 represent Restricted Stock Units ("RSUs") awarded under the Reservoir Media, Inc. 2021 Omnibus Incentive Plan (the "Plan") to Ryan P. Taylor. Each RSU represents the contingent right to receive the equivalent of one share of common stock, $0.0001 par value per share (the "Common Stock"), of Reservoir Media, Inc. (the "Issuer"). The RSU's were granted on June 29, 2022 in connection with Mr. Taylor's annual compensation for service as a non-employee director ("Grant Date"). The RSUs vested on July 28, 2022 (the "Vesting Date"). Due to his position as the manager of the general partner of a manager of ER Reservoir LLC (the "Fund"), Mr. Taylor directed the Issuer to transfer shares issued upon settlement of the RSUs into the account of the Fund on the applicable Vesting Date.

F2 · shares: The number of RSUs received was calculated based on $6.70, which was the closing price of the Issuer's Common Stock on the Grant Date.

F3 · ownership.direct: The amount of securities shown in this row is owned directly by the Fund. As a manager of the Fund, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of 9,863,431 of the Issuer's securities held by the Fund. As a manager of the Fund, Richmond Hill Investment Co., LP (the "RHIC Manager") may be deemed to be a beneficial owner of 3,741,302 of the Issuer's securities held by the Fund. As the general partner of the RHIC Manager, Richmond Hill Capital Management, LLC (the "General Partner") may be deemed to be a beneficial owner of 3,741,302 of the Issuer's securities held by the Fund. As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of 9,863,431 of the Issuer's securities held by the Fund (Continued in footnote 4).

F4 · ownership.direct: (Continued from footnote 3) As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of 9,863,431 of the Issuer's securities held by the Fund. As the manager of the General Partner, Ryan P. Taylor may be deemed to be a beneficial owner of 3,741,302 of the Issuer's securities held by the Fund. Each of the RHI Manager, the RHIC Manager, the General Partner, the EEH Manager, Mr. Liu and Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its or his respective pecuniary interest therein.

F5 · ownership.direct: The Reporting Persons listed on this Form 5 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 5 shall not be deemed to be an admission that the Reporting Persons are members of such group.

SEC source: 0001214659-22-003856 · marketforms-55753.xml · nonDerivative · entry 3

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 309,085

F9 · price: The 826 Shares reported on this Form 4 were purchased in multiple trades at prices ranging from $7.445 to $7.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-003856 · marketforms-55753.xml · nonDerivative · entry 2

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 308,259

F8 · price: The 24,620 Shares reported on this Form 4 were purchased in multiple trades at prices ranging from $7.22 to $7.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-003856 · marketforms-55753.xml · nonDerivative · entry 1

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 283,639

F1 · price: The 92,914 shares of common stock, par value $0.0001 per share (the "Shares"), of Reservoir Media, Inc. (the "Issuer") reported on this Form 4 were purchased in multiple trades at prices ranging from $6.98 to $7.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-003679 · marketforms-55726.xml · nonDerivative · entry 2

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 190,725

F8 · price: The 23,646 Shares reported on this Form 4 were purchased in multiple trades at prices ranging from $7.40 to $7.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-003679 · marketforms-55726.xml · nonDerivative · entry 1

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 167,079

F1 · price: The 17,770 shares of common stock, par value $0.0001 per share (the "Shares"), of Reservoir Media, Inc. (the "Issuer") reported on this Form 4 were purchased in multiple trades at prices ranging from $7.26 to $7.50 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-003388 · marketforms-55589.xml · nonDerivative · entry 1

Essex Equity Joint Investment Vehicle, LLC · CIK 0001534789 · May be deemed a 10% owner

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 149,309

F1 · price: The 12,945 shares of common stock, par value $0.0001 per share (the "Shares"), of Reservoir Media, Inc. (the "Issuer") reported on this Form 4 were purchased in multiple trades at prices ranging from $6.88 to $6.96 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-002784 · marketforms-55438.xml · nonDerivative · entry 2

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 136,364

F8 · price: The 6,821 Shares of the Issuer reported on this Form 4 were purchased in multiple trades at prices ranging from $6.96 to $7.05 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.

SEC source: 0001214659-22-002784 · marketforms-55438.xml · nonDerivative · entry 1

Richmond Hill Investments, LLC · CIK 0001455952 · May be deemed a 10% owner

ESSEX EQUITY HOLDINGS, LLC · CIK 0001667008 · May be deemed a 10% owner

LIU JOHN D · CIK 0001288449 · May be deemed a 10% owner

Taylor Ryan P. · CIK 0001501578 · May be deemed a 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 129,543

F1 · price: The 129,543 shares of common stock, par value $0.0001 per share (the "Shares"), of Reservoir Media, Inc. (the "Issuer") reported on this Form 4 were purchased in multiple trades at prices ranging from $6.025 to $7.00 per share. The price reported above reflects the weighted average purchase price per Share. The Reporting Persons hereby undertake to provide to the Securities and Exchange Commission staff, the Issuer or any security holder of the Issuer, upon request, full information regarding the number of Shares purchased and prices at which the transactions were effected.

F2 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group holding equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such group.

F3 · ownership.direct: The Reporting Persons listed on this Form 4 may be deemed members of a group with Richmond Hill Capital Partners, LP and certain of its affiliates (collectively, the "RH Entities"), which are separately filing a Form 4 with respect to equity securities of the Issuer on the date hereof, and with ER Reservoir LLC and certain of its affiliates (collectively, the "ER Entities"), which have previously filed a Form 3 with respect to equity securities of the Issuer. The filing of this Form 4 shall not be deemed to be an admission that the Reporting Persons are members of such a group with any of the RH Entities or the ER Entities and the Reporting Persons disclaim beneficial ownership of any securities beneficially owned by the RH Entities and the ER Entities, except to the extent of their pecuniary interests therein.

F4 · ownership.direct: The amount of securities shown in this row is owned directly by Essex Equity Joint Investment Vehicle, LLC ("Essex"). Ryan P. Taylor owns an equity interest in an entity that may be deemed to have a pecuniary interest in the Shares owned by Essex and therefore may be deemed to be a beneficial owner of the Shares owned by Essex. Mr. Taylor disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise, except to the extent of his pecuniary interest therein, and the inclusion of the Shares in this Report shall not be deemed an admission of beneficial ownership of the reported Shares for purposes of Section 16 of the Exchange Act, or for any other purpose.

F5 · ownership.direct: As the manager of Essex, Richmond Hill Investments, LLC (the "RHI Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The RHI Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act, or otherwise, except to the extent of its pecuniary interest therein.

F6 · ownership.direct: As the manager of the RHI Manager, Essex Equity Holdings, LLC (the "EEH Manager") may be deemed to be a beneficial owner of the Issuer's securities held by Essex. The EEH Manager disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of its pecuniary interest therein.

F7 · ownership.direct: As the manager of the EEH Manager, John D. Liu may be deemed to be a beneficial owner of the Issuer's securities held by Essex. Mr. Liu disclaims any beneficial ownership of any of the Issuer's securities reported herein for purposes of Section 16 of the Exchange Act or otherwise, except to the extent of his pecuniary interest therein.