X0306 4 2020-01-08 0 0001735184 Retail Value Inc. RVI 0001742349 Boston Gary N 3300 ENTERPRISE PARKWAY BEACHWOOD OH 44122 1 0 0 0 Common Shares 2020-01-08 4 A 0 135.4647 0.00 A 10318.4634 D Shares acquired as a result of a stock dividend as of January 8, 2020. Reflects an exempt, equitable adjustment increasing restricted stock units by 356 units for the stock dividend. These 356 RSUs generally vest 178 on July 31, 2020 and 178 on July 31, 2021. Vested shares will generally be delivered to the reporting person within 30 days after vesting. /s/ Tammy Battler, Attorney-In-Fact 2020-01-10