X0306 4 2021-01-12 0 0001735184 Retail Value Inc. RVI 0001191854 SHOLEM BARRY A 3300 ENTERPRISE PARKWAY BEACHWOOD OH 44122 1 0 0 0 Common Shares 2021-01-12 4 A 0 779 0.00 A 16887 D Shares acquired as a result of a stock dividend as of January 12, 2021. Reflects an exempt, equitable adjustment increasing restricted stock units by 263 units for the stock dividend, which vest on July 2, 2021. Vested shares will generally be delivered to the reporting person within 30 days after vesting. /s/ Tammy Battler, Attorney-In-Fact 2021-01-14