#1 Represents restricted stock award granted under the TSR, Inc. 2020 Equity Incentive Plan. The shares of restricted stock will remain subject to forfeiture during three years, during such time the forfeiture restrictions will lapse with respect to 10,000 shares, 5,000 shares and 5,000 shares respectively on each anniversary date of the grant date. The lapse of the forfeiture restrictions is conditioned on the reporting person continuing to provide services to TSR, Inc. (the "Company") through each vesting date.

#2 Represents restricted stock award granted under the TSR, Inc. 2020 Equity Incentive Plan. The shares of restricted stock will remain subject to forfeiture over three years until the Company's common stock have traded at certain pre-determined price thresholds for a 30-trading-day period. Once a price threshold was achieved by certain target dates, the forfeiture restrictions for the portion of the award related to that threshold will lapse, provided that the reporting person continues to provide services to the Company at the time of vesting.

#1 Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for 4,537 shares of common stock in various SMAs, including 1,701 shares for accounts of adult children of Mr. Eriksen. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.

#1 Mr. Eriksen is the Managing Member of Eriksen Capital Management ("ECM") which manages separately managed accounts ("SMAs") and is also the Managing Member of Cedar Creek Partners, an investment partenrship. ECM executed open market purchases for 4,537 shares of common stock in various SMAs, including 1,701 shares for accounts of adult children of Mr. Eriksen. The respective owners of the SMAs are responsible to vote the shares. The reporting person disclaims benefiical ownership of the reported securities except to the extent of his pecuniary interest therein.

#1 Represents the forfeiture of restricted stock granted under the TSR, Inc. 2020 Equity Incentive Plan to pay taxes applicable to the vesting of the restricted stock awards.