13D Filing: 1347 Investors LLC and Limbach Holdings Inc. (LMB)

⁽¹⁾ The reporting person disclaims beneficial ownership
of the shares.

⁽²⁾ Includes 673,584 shares of Common Stock underlying
convertible securities.

⁽³⁾ 12,680 of such shares are held in the customer
accounts of CWA Asset Management Group, LLC (doing business as “Capital Wealth Advisors”) (“CWA”). Fundamental
Global Investors, LLC owns 50% of CWA. Mr. D. Kyle Cerminara is the Chief Executive Officer, Partner and Manager of Fundamental
Global Investors, LLC. Mr. Cerminara also serves as Co-Chief Investment Officer of CWA. CWA, in its role as investment advisor
for customer accounts, Fundamental Global Investors, LLC, as a 50% owner of CWA, and Mr. Cerminara, as manager of CWA, may each
be deemed to beneficially own the number of shares held in CWA’s customer accounts. Each of Fundamental Global Investors,
LLC and Mr. Cerminara expressly disclaims such beneficial ownership.

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