Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock, par value $0.001^F1,F2	holding	—	—		—	29,800,424	I	Held directly by Lambda Investors LLC
Common Stock, par value $0.001^F1,F2	holding	—	—		—	190,446	I	Held directly by Wexford Capital LP

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Common Stock Warrant^F3,F1,F2	$0.30	Jun 3, 2016	A	600,000	A	Jun 3, 2016	Jun 3, 2021	Common Stock	600,000	600,000	I

Explanation of responses

F1This form is jointly filed by Lambda Investors LLC ("Lambda") a, Wexford Capital LP ("Wexford"), Wexford GP LLC ("Wexford GP"), Charles E. Davidson ("Davidson") and Joseph M. Jacobs ("Jacobs"). The reported securities are held directly by Lambda and by Wexford. Wexford serves as manager 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 (2) below).
F2(continued from Footnote (1) 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, but disclaim such beneficial ownership to the extent such beneficial ownership exceeds their pecuniary interest.
F3On June 3, 2016, Nephros, Inc. (the "Company"), Lambda and certain other investors entered into a Note and Warrant Purchase Agreement whereby Lambda agreed to loan the Company $300,000 pursuant to the issue of (i) an 11% Unsecured Promissory Note (the "Note"), and (ii) a five-year warrant to acquire two (2) shares of Common Stock, par value$0.001 per share, for each dollar of principal amount of the Note (the "Warrant").