On November 4, 2019, Matthew L. Ostrower, Executive Vice President, Chief Financial Officer and Treasurer of Retail Value Inc. (the Company"), notified the Company that he will resign from such position with the Company on November 27, 2019. Furthermore, on November 7, 2019, the Board of Directors of the Company appointed Christa A. Vesy as Executive Vice President, Chief Financial Officer, Chief Accounting Officer and Treasurer of the Company, effective immediately after Mr. Ostrower's resignation. Ms. Vesy, age 48, has served as the Executive Vice President and Chief Accounting Officer of the Company since February 2018.

Ms. Vesy also serves as Executive Vice President and Chief Accounting Officer of SITE Centers Corp. (SITE Centers"), a self-administered and self-managed real estate investment trust in the business of acquiring, owning, developing, redeveloping, expanding, leasing, financing and managing shopping centers and the parent of the Company's external manager (collectively with SITE Centers, the Manager"), a position she assumed in March 2012.