Reservoir Has Received Non-Binding Indication of Interest from Irenic Capital Management

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No Shareholder Action Required at This Time

NEW YORK, NY / ACCESS Newswire / March 3, 2026 / Reservoir Media, Inc. (NASDAQ:RSVR) ("Reservoir" or the "Company"), an award-winning independent music company, today announced that it has received an unsolicited, non-binding and conditional indication of interest from one of its shareholders, Irenic Capital Management, LP ("Irenic"), pursuant to which Irenic proposes to acquire all of the Company's outstanding equity at a price of between $10.00 and $11.00 per share in cash.

Reservoir's Board of Directors is evaluating the indication of interest to determine the course of action that is in the best interests of the Company and all of its shareholders.

Reservoir does not intend to comment further or disclose any developments regarding the indication of interest unless and until it deems further disclosure is appropriate or required.

The Company's shareholders do not need to take any action at this time.

ABOUT RESERVOIR

Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, Abu Dhabi, and Mumbai. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir represents copyrights and master recordings including titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir frequently holds a Top 10 U.S. Market Share according to Billboard's Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide's The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards.

Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Music, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are made in reliance on the safe harbor protections provided thereunder. Forward-looking statements are typically identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "should," "target," "would" and other similar words and expressions. Forward-looking statements are based on the current expectations and beliefs of management and information currently available to management. These forward-looking statements are inherently subject to a number of risks, uncertainties and assumptions, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this press release, including the risk factors that are described in Reservoir's Annual Report on Form 10-K for the year ended March 31, 2025 and our other filings with the SEC available on the SEC's website at www.sec.gov or Reservoir's website at www.reservoir-media.com, and the possibility that a transaction will or will not be pursued or agreed to. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by the Company will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company or its business or operations. Any forward-looking statement made in this press release speaks only as of the date on which it is made and Reservoir undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

Media Contact

Reservoir Media, Inc.

Suzy Arrabito

Vice President, Marketing & Communications

[email protected]

www.reservoir-media.com

or

Reevemark

Paul Caminiti / Delia Cannan

[email protected]

Investor Contact

Alpha IR Group

Jackie Marcus or Nathan Skown

[email protected]

SOURCE: Reservoir Media, Inc.