Item 4 is amended and supplemented as follows: As previously reported in Amendments No. 34, No. 35, No. 36 and No. 37, the Reporting Persons proposed certain amendments to the now terminated Cooperation & Support Agreement (previously entered into in January of 2023) to the Board of Directors (the "Board") of Barnwell Industries Inc. ("Barnwell" or the "Company") in order to avoid a costly proxy fight, including proposals regarding directors to be nominated to the Board. As of today, the Company has not announced its annual meeting and has not accepted the amendments proposed by the Reporting Persons. The Reporting Persons previously issued open letters to shareholders on January 21, 2025, January 28, 2025, February 5, 2025 and February 19, 2025. The Reporting Persons submitted to the Company on February 14, 2025 a nomination notice in accordance with "advance notice" provisions (the "Advance Notice") of the Company's by-laws outlining the nominations proposed by the Reporting Persons. The response from Barnwell was to find fault with the form and content of the Advance Notice, and to ominously note that it "is strongly inclined to declare the [Advance Notice] invalid and disqualify the Sherwood Nominees." In essence, the response was that Barnwell stockholders should not have a choice. Due to the actions of Barnwell and Directors Kinzler, Grossman and Horowitz, and the recent actions to disenfranchise shareholders, the Reporting Persons believe a Consent Solicitation would be the best path forward to allow the stockholders of the Company the opportunity to choose the next path for the Company. The Reporting Persons have identified five nominees, four of which are completely independent from the Reporting Persons. The nominees put forth in connection with the Consent Solicitation to be filed on the date hereof are: (i) James C. Cornell, (ii) Heather Isidoro, (iii) Stuart I. Oran, (iv) Ned L. Sherwood and (v) Gregory W. Sullivan (together, the "Nominees"). The Nominees have over 172 years of combined experience and their experience will be critical in moving Barnwell forward and improving its performance and return for all stockholders. The Reporting Persons and their nominees to the Barnwell board will be the participants in the Consent Solicitation. Information regarding the participants and their interests in the Consent Solicitation will be included in the consent solicitation statement and other materials filed with the SEC. The Reporting Persons once again hereby affirm that they have no current intent to engage in a control transaction. As disclosed herein and in the consent solicitation statement, four of the five Nominees are completely independent from the Reporting Persons. On March 3, 2025, each of James C. Cornell, Heather Isidoro, Stuart I. Oran, Gregory W. Sullivan and Ned L. Sherwood has entered into a nominee agreement pursuant to which MRMP-Managers LLC has agreed to pay the costs of soliciting consents, and to defend and indemnify each of them against, and with respect to, any losses that may be incurred by any of them in the event any of them becomes a party to litigation based on his or her respective nomination as a candidate for election to the Board and the solicitation of consents in support of his or her election. None of the Nominees receives any compensation under the nominee agreements and no Nominee will receive any compensation from the Reporting Persons or their affiliates for his or her services as director of the Company, if elected. If elected, the Nominees will be entitled to such compensation from the Company as is consistent with the Company's then-established practices for services of non-employee directors. The form of nominee agreement is filed herewith as Exhibit 99.1.