TOP SHIPS INC.

SellBuy

Date	Name	Title	Shares	Value	Transaction
Aug 31, 2016	Ronin Capital, LLC	10% Owner	27,500Common Stock	—	Sell
Aug 30, 2016	Ronin Capital, LLC	10% Owner	8,400Common stock	—	Sell
Aug 26, 2016	Ronin Capital, LLC	10% Owner	20,000Common stock	—	Sell
Aug 25, 2016	Ronin Capital, LLC	10% Owner	125,000Warrants to Purchase Common Stock	—	Other
Aug 25, 2016	Ronin Capital, LLC	10% Owner	111,250Common Stock	—	Other
Aug 25, 2016	Ronin Capital, LLC	10% Owner	36,381Common Stock	—	Sell
Aug 24, 2016	Ronin Capital, LLC	10% Owner	45,000Common Stock	—	Sell
Aug 23, 2016	Ronin Capital, LLC	10% Owner	9,869Common Stock	—	Sell
Aug 12, 2016	Ronin Capital, LLC	10% Owner	125,000Warrants to Purchase Common Stock	—	Other
Aug 12, 2016	Ronin Capital, LLC	10% Owner	111,250Common Stock	—	Other