STEW · SRH Total Return Fund, Inc. · Insider Trading

Shares are held in an irrevocable trust, Jacob E. Hemmer is the sole beneficiary of the trust but not a trustee of the trust.

SHARES RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

MR. LOONEY STOPPED PARTICIPATING IN DIVIDEND REINVESTMENT IN STEW AS OF 8/1/2025.

SHARES RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

MR LOONEY DONATED 6,152.311 SHARES OF SRH TOTAL RETURN FUND, INC., COMMON STOCK (NYSE: STEW) TO HIS DONOR ADVISED FUND. AS A RESULT OF THE TRANSACTION, MR. LOONEY NO LONGER HAS OWNERSHIP OF THE SHARES. FORM 4 FILED 3/27/2025.

Mr. Looney donated 6,152.311 shares of SRH Total Return Fund, Inc. common stock (NYSE: STEW) to his donor advised fund. As a result of the transaction, Mr. Looney no longer has ownership of the shares

SHARES RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

This Amended Form 4 revises the original Form 4 filed by Mr. Moore on May 7, 2024 to restate the "Price" column of Item 4, Table I, as a price per share amount rather than an aggregate dollar amount for the transaction. All other information on the original Form 4 remains unchanged.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

SHARES WERE RECEIVED THROUGH PURSUANT PARTICIPATION IN DIVIDEND REINVESTMENT PROGRAM.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestement program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

Shares were received through pursuant participation in dividend reinvestment program.

On October 30, 2020, the Reporting Person sold shares (the "Shares") of Issuer to an affiliated trust, Stewart West Indies Trust ("SWIT"). SWIT purchased 2,411,987 Shares representing all the Shares then owned by the Reporting Person. The purchase price for the Shares was calculated based on the average of the opening and closing prices reported for such shares by the New York Stock Exchange on October 30, 2020, after applying a blockage discount because of the large size of the aggregate holdings of the Reporting Person and affiliated trusts.

On October 30, 2020, the Reporting Person sold shares (the "Shares") of Issuer to an affiliated trust, Susan L. Ciciora Trust ("SLCT"). SLCT purchased 10,146,367 Shares representing all the Shares then owned by the Reporting Person. The purchase price for the Shares was calculated based on the average of the opening and closing prices reported for such shares by the New York Stock Exchange on October 30, 2020, after applying a blockage discount because of the large size of the aggregate holdings of the Reporting Person and affiliated trusts.

On October 30, 2020, the Reporting Person sold shares (the "Shares") of Issuer to an affiliated trust, Stewart West Indies Trust ("SWIT"). SWIT purchased 12,689,062 Shares representing all the Shares then owned by the Reporting Person. The purchase price for the Shares was calculated based on the average of the opening and closing prices reported for such shares by the New York Stock Exchange on October 30, 2020, after applying a blockage discount because of the large size of the aggregate holdings of the Reporting Person and affiliated trusts.

On October 30, 2020, the Reporting Person purchased shares (the "Shares") of Issuer from two affiliated trusts, Mildred Horejsi Trust ("MHT") and Lola Brown Trust No. 1B ("LBT"). The Reporting Person (also referred to herein as the "Trust") purchased 5,543,695 Shares from MHT and 10,146,367 Shares from LBT, representing all the Shares then owned by MHT and LBT. The purchase price for the Shares was calculated based on the average of the opening and closing prices reported for such shares by the New York Stock Exchange on October 30, 2020, after applying a blockage discount because of the large size of the aggregate holdings of the Reporting Person and affiliated trusts.

The trustee of the Trust is Peak Trust Company-AK, which may be deemed to control the Trust. Although Stewart R. Horejsi is neither a trustee nor beneficiary under the Trust, because of his advisory role with the Trust, he may be deemed to have indirect beneficial ownership of the shares directly beneficially owned by the Trust. However, Mr. Horejsi disclaims such beneficial ownership of the shares directly beneficially held by the Trust.

The Trust and trusts, persons and entities affiliated with the Trust, including Stewart West Indies Trust, John S. Horejsi Trust, John X. Ciciora Trust, Jack S. Ciciora Trust, Amanda N. Ciciora Trust, Courtney M. Ciciora Trust and Susan L. Ciciora own an aggregate of 45,384,254 shares of the Issuer.