X0306 4 2019-01-15 0001494582 BOSTON OMAHA Corp BOMN 0001710114 Kenan Frank H. II C/O BOSTON OMAHA CORPORATION 1411 HARNEY ST. SUITE 200 OMAHA NE 68102 1 Class A common stock, par value $0.001 per share 2019-01-15 4 J 0 123390 A 181666 I See footnote Received in connection with a distribution from Boulderado Partners, LLC to certain of its limited partners; such shares shall be subject to a six month restriction on transfer pursuant to Rule 144 under the Securities Act of 1933. The reported shares are directly owned by a trust under which Frank H. Kenan II is both the trustee and a beneficiary. The reported shares are directly owned by KD Capital, L.P. and a trust under which Frank H. Kenan II is both the trustee and a beneficiary. Frank H. Kenan II is the manager of and owns 100% of KD Capital Management, LLC, which is the general partner of KD Capital, L.P. Mr. Kenan could be deemed to have indirect beneficial ownership of the shares reported herein. /s/ Frank H. Kenan II 2019-02-21