X0306 4/A 2013-05-23 2013-06-04 0 0001196298 NEPHROS INC NEPH 0001413621 Lambda Investors LLC 411 WEST PUTNAM AVENUE SUITE 125 GREENWICH CT 06830 0 0 1 0 0001048462 WEXFORD CAPITAL LP 411 WEST PUTNAM AVENUE SUITE 125 GREENWICH CT 06830 0 0 1 0 0001472112 Wexford GP LLC C/O WEXFORD CAPITAL LP SUITE 125 GREENWICH CT 06830 0 0 1 0 0001001391 DAVIDSON CHARLES E C/O WEXFORD CAPITAL LP 411 WEST PUTNAM AVE. GREENWICH CT 06830 0 0 1 0 0001048485 JACOBS JOSEPH C/O WEXFORD CAPITAL LP 411 WEST PUTNAM AVENUE, SUITE 125 GREENWICH CT 06830 0 0 1 0 Common Stock, par value $0.001 2013-05-23 4 P 0 2992884 A 6721676 I Held directly by Lambda Investors LLC Common Stock, par value $0.001 2013-05-23 4 A 0 46692 A 46692 I Held directly by Wexford Capital LP On May 23, 2013, Lambda Investors LLC ('Lambda") purchased, pursuant to a rights offering with Nephros, Inc. (the "Company"), 2,992,884 shares of Common Stock at a purchase price of $0.60 per share for a cost of $1,795,730.40. On May 23, 2013, the Company granted each of Mr. Arthur Amron and Dr. Paul Mieyal, 23,346 restricted shares of Common Stock (the "Restricted Stock") in respect of their service as members of the Board of Directors of the Company. At the request of Mr. Amron and Dr. Mieyal, the Restricted Stock was granted to Wexford Capital LP. This form is jointly filed by Lambda, Wexford Capital LP ("Wexford"), Charles E. Davidson ("Davidson"), Joseph M. Jacobs ("Jacobs") and Wexford GP LLC ("Wexford GP"). The reported securities are held directly by Lambda and by Wexford. Wexford serves as manager, investment advisor or sub-advisor of Lambda, and as such may be deemed to share beneficial ownership of the securities beneficially owned by Lambda, but disclaims such beneficial ownership to the extent such beneficial ownership exceeds its pecuniary interest. Wexford GP, as the general partner of Wexford, may be deemed to share beneficial ownership of the securities beneficially owned by Lambda, but disclaims such ownership to the extent such beneficial ownership exceeds its pecuniary interest. (continued under Footnote (4) below). (continued from Footnote (3) above) Messrs. Davidson and Jacobs, as the controlling persons of Wexford GP, may be deemed to share beneficial ownership of any securities beneficially owned by Lambda for which Wexford serves as manager, investment advisor or sub-advisor, but disclaim such beneficial ownership to the extent such beneficial ownership exceeds their pecuniary interest. Lambda Investors LLC By: Arthur Amron, Vice President and Assistant Secretary 2013-06-05 Wexford Capital LP, By: Wexford GP LLC, its general partner By Arthur Amron, Vice President and Assistant Secretary 2013-06-05 Wexford GP LLC, By Arthur Amron, Vice Presidentand Assistant Secretary 2013-06-05 Charles E. Davidson 2013-06-05 Joseph M. Jacobs 2013-06-05