X0306 4 2020-06-08 0 0001260968 MARLIN BUSINESS SERVICES CORP MRLN 0001374566 MESDAG WILLEM 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 1 0 0001374588 RED MOUNTAIN CAPITAL PARTNERS LLC 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 1 0 0001374603 RED MOUNTAIN PARTNERS, L.P. 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 1 0 0001374606 RMCP GP LLC 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 1 0 0001628512 RED MOUNTAIN INVESTORS I LLC - SERIES A 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 0 1 Please refer to Remarks below 0001628461 RMCP MANAGER LLC 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 0 1 Please refer to Remarks below 0001374607 RED MOUNTAIN CAPITAL MANAGEMENT INC 10250 CONSTELLATION BLVD SUITE 2300 LOS ANGELES CA 90067 0 0 1 0 Common Stock 2020-06-08 4 S 0 195 10.0305 D 24805 I See Footnotes and Remarks Common Stock 2020-06-08 4 S 0 10561 10.0305 D 2113706 I See Footnotes and Remarks Common Stock 2020-06-08 4 S 0 4244 10.0305 D 848414 I See Footnotes and Remarks Common Stock 2020-06-09 4 S 0 260 9.4105 D 24545 I See Footnotes and Remarks Common Stock 2020-06-09 4 S 0 14082 9.4105 D 2099624 I See Footnotes and Remarks Common Stock 2020-06-09 4 S 0 5658 9.4105 D 842756 I See Footnotes and Remarks Common Stock 2020-06-10 4 S 0 130 8.7497 D 24415 I See Footnotes and Remarks Common Stock 2020-06-10 4 S 0 7041 8.7497 D 2092583 I See Footnotes and Remarks Common Stock 2020-06-10 4 S 0 2829 8.7497 D 839927 I See Footnotes and Remarks These shares of common stock were sold on the open market by Red Mountain Capital Partners LLC ("RMCP"). The price reported in Column 4 is a weighted average price per share. Each of Willem Mesdag, Red Mountain Partners, L.P. ("RMP"), RMCP GP LLC ("RMCP GP"), RMCP, Red Mountain Investors I LLC ("RMI"), RMCP Manager LLC ("RMCPM") and Red Mountain Capital Management, Inc. ("RMCM"), collectively the Reporting Persons ("Reporting Persons"), undertakes to provide to Marlin Business Services Corp. (the "Company"), any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were sold. These shares are held directly by RMCP. These shares of common stock were sold on the open market by RMP. The price reported in Column 4 is a weighted average price per share. Each of the Reporting Persons undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were sold. These shares are held directly by RMP. These shares of common stock were sold on the open market by RMI. The price reported in Column 4 is a weighted average price per share. Each of the Reporting Persons undertakes to provide to the Company, any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the price at which these shares were sold. These shares are held directly by RMI. This Form 4 is jointly filed by (i) RMP, (ii) RMCP GP, (iii) RMI, (iv) RMCPM, (v) RMCP, (vi) RMCM and (vii) Willem Mesdag. RMCP GP is the general partner of RMP. RMCPM is the managing member of RMI. RMCP is the managing member of RMCP GP and the sole member of RMCPM. RMCM is the managing member of RMCP. Willem Mesdag is the president, sole executive officer, sole director and sole shareholder of RMCM. Each of RMCP, RMCP GP, RMCM and Mr. Mesdag by virtue of their direct or indirect control of RMP may be deemed to beneficially own some or all of the securities reported as being held directly by RMP, and each of RMCP, RMCPM, RMCM and Mr. Mesdag by virtue of their direct or indirect control of RMI may be deemed to beneficially own some or all of the securities reported as being held directly by RMI, and RMCM and Mr. Mesdag by virtue of their direct or indirect control of RMCP may be deemed to beneficially own some or all of the securities reported as being held directly by RMCP. Each of the reporting persons hereunder disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest therein. This Form 4 shall not be deemed to be an admission that any reporting person hereunder is the beneficial owner of any of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. /s/ Willem Mesdag (on behalf of himself and the other Reporting Persons) 2020-06-10