Case BLS Doc 135 Filed 02/26/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE

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1 Case BLS Doc 135 Filed 02/26/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) In re: ) Chapter 11 ) Rand Logistics, Inc., et al. 1 ) Case No (BLS) ) Debtors. ) (Jointly Administered) ) ) Related to Docket Nos. 13, 14, 15, 47 and 89 NOTICE OF FILING OF MODIFIED EXHIBIT 5 TO PLAN SUPPLEMENT TO DEBTORS JOINT PREPACKAGED CHAPTER 11 PLAN OF REORGANIZATION PLEASE TAKE NOTICE OF THE FOLLOWING: 1. On January 30, 2018, the above-captioned debtors and debtors in possession (collectively, the Debtors ) filed the Debtors Joint Prepackaged Chapter 11 Plan of Reorganization [Docket No. 13] (as may be amended, modified, or supplemented from time to time, the Plan ), and the Disclosure Statement for the Debtors Joint Prepackaged Chapter 11 Plan of Reorganization [Docket No. 14] (as may be amended, modified, or supplemented from time to time, the Disclosure Statement ) with the United States Bankruptcy Court for the District of Delaware (the Court ). 2. On January 30, 2018, the Debtors filed the Motion of the Debtors for Entry of an Order (I) Shortening Notice of, and Scheduling a Combined Hearing to Consider, (A) Approval Of the Disclosure Statement and (B) Confirmation of the Plan, (II) Establishing a Confirmation Schedule, (III) Approving the Manner and Form of Notice for the Combined Hearing, (IV) Approving Notice and Objection Procedures for the Assumption or Rejection of Executory Contracts and Unexpired Leases, and (V) Approving Solicitation Procedures and Form of Ballot [Docket No. 15] (the Motion ); and on January 31, 2018, after a hearing on the Motion, the Court entered the Order (I) Shortening Notice of and Scheduling a Combined Hearing to Consider (A) Approval of the Disclosure Statement and (B) Confirmation of the Plan,(II) Establishing a Confirmation Schedule, (III) Approving the Manner and Form of Notice for the Combined Hearing, (IV) Approving Notice and Objection Procedures for the Assumption or Rejection of Executory Contracts and Unexpired Leases, and (V) Approving Solicitation Procedures and Form of Ballot [Docket No. 47] (the Solicitation Procedures Order ). 3. On February 16, 2018, in accordance with the Plan and Disclosure Statement, and pursuant to the Solicitation Procedures Order, the Debtors filed the Plan 1 The Debtors in these cases, along with the last four digits of each Debtor s federal tax identification number, are: Rand Logistics, Inc. (5343); Lower Lakes Transportation Company (5364); Grand River Navigation Company, Inc. (5146); Black Creek Shipping Company, Inc. (5474); Rand LL Holdings Corp. (6352); Rand Finance Corp. (1847); and Black Creek Shipping Holding Company, Inc. (5313). The service address for each of the above Debtors is 333 Washington Street, Suite 201, Jersey City, NJ

2 Case BLS Doc 135 Filed 02/26/18 Page 2 of 8 Supplement [Docket No 89]. 2 Attached as Exhibit 5 to the Plan Supplement was the List of Directors and Officers of the Reorganized Debtors ( Original Exhibit 5 ). 4. Attached is a modified Exhibit 5 (the Modified Exhibit 5 ) and a blackline comparing the Original Exhibit 5 to the Modified Exhibit The forms of the documents contained in the Plan Supplement are integral to, and are considered part of, the Plan. If the Plan is confirmed, the documents contained in the Plan Supplement will be approved by the Court pursuant to the Confirmation Order. 6. Certain documents and designations, or portions thereof, contained in the Plan Supplement may remain subject to continuing negotiations among the Debtors and interested parties with respect thereto and modification as a result of such negotiations. The Debtors reserve all rights to alter, amend, update, modify, or supplement any document in the Plan Supplement, or add additional documents to the Plan Supplement, with the consent of Lightship, at any time before the Effective Date of the Plan, or any such other date as may be permitted by the Plan or by order of the Court. The Debtors intend to file a further supplement to the Plan Supplement containing updated versions of the documents filed as exhibits hereto to the extent any such exhibits are modified, and any additional documents referenced in or contemplated by the Plan, on or before the Confirmation Hearing. 7. Any holder of Claims or Interests who would like to receive copies of any of the exhibits contained in this Plan Supplement may do so (i) free of charge, by accessing such documents and information online at the website maintained by the Debtors voting agent, Kurtzman Carson Consultants LLC (the Voting Agent ), at or (ii) by accessing the Court s website at Please note that a PACER password and login are needed to access documents on the Court s website. In addition, copies may be obtained by contacting the Debtors Voting Agent, at (domestic), (international) or by at RandLogisticsInfo@kccllc.com. 8. A combined hearing to consider compliance with the Bankruptcy Code s disclosure requirements and any objections thereto and to consider confirmation of the Plan and any objection thereto (the Combined Hearing ) will be held before the Honorable Brendan L. Shannon, United States Bankruptcy Judge, in Courtroom 1 of the United States Bankruptcy Court for the District of Delaware, 824 Market Street, 6th Floor, Wilmington, Delaware 19801, on February 27, 2018, at 2:00 p.m. (ET). Please be advised that the Combined Hearing may be continued from time to time by the Court without further notice. 2 Unless otherwise defined, capitalized terms used herein have the meaning ascribed thereto in the Plan, Disclosure Statement, Motion, and Solicitation Procedures Order. -2-

3 Case BLS Doc 135 Filed 02/26/18 Page 3 of 8 Dated: February 26, 2018 Wilmington, Delaware Respectfully Submitted, /s/ Evelyn J. Meltzer PEPPER HAMILTON LLP David B. Stratton (No. 960) David M. Fournier (No. 2812) Evelyn J. Meltzer (No. 4581) John H. Schanne II (No. 5260) Hercules Plaza, Suite Market Street P.O. Box 1709 Wilmington, DE Telephone: (302) Facsimile: (302) and- AKIN GUMP STRAUSS HAUER & FELD LLP Meredith A. Lahaie (admitted pro hac vice) Alexis Freeman (admitted pro hac vice) One Bryant Park New York, NY Telephone: (212) Facsimile: (212) Joanna Newdeck (admitted pro hac vice) 1333 New Hampshire Avenue, N.W. Washington, District of Columbia Telephone: (202) Facsimile: (202) Counsel to Debtors and Debtors in Possession -3-

4 Case BLS Doc 135 Filed 02/26/18 Page 4 of 8 Modified Exhibit 5-4-

5 Case BLS Doc 135 Filed 02/26/18 Page 5 of 8 Exhibit 5 List of Directors and Officers of the Reorganized Debtors In accordance with Article 4.7 of the Plan and section 1129(a)(5) of the Bankruptcy Code, the Debtors hereby disclose the identities and affiliates of the individuals proposed to serve after confirmation of the Plan as a director on the New Board or an officer of each of the Reorganized Debtors who will serve on and after the Effective Date and the identity of any insider that will be employed or retained by the Reorganized Debtors and the nature of any compensation for such insider. This Exhibit 5 may be modified prior to the Confirmation Hearing. List of Members of the New Board John Becker Partner, American Industrial Partners 1 Jason Perri Partner, American Industrial Partners Justin Fish Partner, American Industrial Partners List of Officers of the Reorganized Debtors and Nature of Compensation The existing officers of the Debtors as of immediately prior to the Effective Date, other than the Debtors current Chief Financial Officer, Mark Hiltwein, shall remain in their current capacities as officers of the Reorganized Debtors, subject to the ordinary rights and powers of the New Board to remove or replace them in accordance with the New Corporate Governance Documents, and any other applicable agreements, including employment agreements. The nature of compensation for the continuing officers shall continue in such form as existing as of immediately prior to the Effective Date. 1 American Industrial Partners is an affiliate of Lightship Capital LLC.

6 Case BLS Doc 135 Filed 02/26/18 Page 6 of 8 Blackline of Original Exhibit 5 Compared to Modified Exhibit 5

7 Case BLS Doc 135 Filed 02/26/18 Page 7 of 8 Exhibit 5 List of Directors and Officers of the Reorganized Debtors In accordance with Article 4.7 of the Plan and section 1129(a)(5) of the Bankruptcy Code, the Debtors hereby disclose the identities and affiliates of the individuals proposed to serve after confirmation of the Plan as a director on the New Board or an officer of each of the Reorganized Debtors who will serve on and after the Effective Date and the identity of any insider that will be employed or retained by the Reorganized Debtors and the nature of any compensation for such insider. This Exhibit 5 may be modified prior to the Confirmation Hearing. List of Members of the New Board John Becker Partner, American Industrial Partners 1 Jason Perri Partner, American Industrial Partners Justin Fish Partner, American Industrial Partners List of Officers of the Reorganized Debtors and Nature of Compensation The existing officers of the DirectorsDebtors as of immediately prior to the Effective Date, other than the Debtors current Chief Financial Officer, Mark Hiltwein, shall remain in their current capacities as officers of the Reorganized Debtors, subject to the ordinary rights and powers of the New Board to remove or replace them in accordance with the New Corporate Governance Documents, and any other applicable agreements, including employment agreements. The nature of compensation for the continuing officers shall continue in such form as existing as of immediately prior to the Effective Date. 1 American Industrial Partners is an affiliate of Lightship Capital LLC.

8 Case BLS Doc 135 Filed 02/26/18 Page 8 of 8 Summary report: Litéra Change-Pro TDC Document comparison done on 2/26/2018 6:45:02 PM Style name: Default Style Intelligent Table Comparison: Active Original DMS: iw://eastdms/east/ /1 Description: Rand - Plan Supplement - Exhibit 5 Modified DMS: iw://eastdms/east/ /2 Description: Rand - Plan Supplement - Exhibit 5 Changes: Add 6 Delete 1 Move From 0 Move To 0 Table Insert 0 Table Delete 0 Table moves to 0 Table moves from 0 Embedded Graphics (Visio, ChemDraw, Images etc.) 0 Embedded Excel 0 Format changes 0 Total Changes: 7