Jonathan Couchman - 13 Aug 2021 Form 4 Insider Report for ENZON PHARMACEUTICALS, INC. (ENZN)

Footnote F1

This Form 4 is filed jointly by Jonathan Couchman ("Mr. Couchman"), Couchman Family Fund (the "Foundation"), Xstelos Corp. ("Xstelos") and Myrexis, Inc. ("Myrexis") (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock (the "Shares"). Each of the Reporting Persons expressly disclaims beneficial ownership of the Shares reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such Shares for purposes of Section 16 or for any other purpose.

Footnote F2

Represents shares owned directly by Mr. Couchman. As the sole trustee of the Foundation, Mr. Couchman may be deemed to beneficially own the Shares owned by the Foundation. As the Chief Executive Officer of Xstelos, Mr. Couchman may be deemed to beneficially own the shares of Common Stock owned by Xstelos. As the Chief Executive Officer of Myrexis, Mr. Couchman may be deemed to beneficially own Shares of Common Stock owned by Myrexis.

Footnote F3

Represents Shares owned directly by the Foundation. Mr. Couchman is the sole trustee of the Foundation. By virtue of this relationship, Mr. Couchman may be deemed to beneficially own the Shares owned directly by the Foundation, however he has no pecuniary interest in such Shares.

Footnote F4

Represents Shares owned directly by Xstelos. Mr. Couchman is the controlling shareholder and Chief Executive Officer of Xstelos. By virtue of these relationships, Mr. Couchman may be deemed to beneficially own the Shares owned directly by Xstelos. Mr. Couchman expressly disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein.

Footnote F5

Represents Shares owned directly by Myrexis. Mr. Couchman is Chief Executive Officer of Myrexis. By virtue of this relationship, Mr. Couchman may be deemed to beneficially own the Shares owned directly by Myrexis. Mr. Couchman expressly disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein.

Footnote F6

The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions and the reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision, upon request, full information regarding the number of shares purchased at each separate price.