(1)

Represents shares of common stock held by Northwater Intellectual Property Fund L.P. 1, a Delaware limited partnership (“NIP LP 1”).  Northwater Capital Inc., a corporation formed under the laws of the Province of Ontario (“NCI”) is the direct parent of Northwater Capital Management Inc., a corporation formed under the laws of the Province Ontario (“NCMI”), which is the manager of NIP LP 1.  The Reporting Persons have an indirect pecuniary interest in the shares of common stock of Airgain, Inc. held directly by NIP LP 1.  Each of NCI and NCMI disclaims such beneficial ownership except to the extent of any indirect pecuniary interest therein.

(2)

Represents shares of preferred stock held by NIP LP 1.

(3)

The preferred stock is convertible at any time, at the holder's election and has no expiration date. The preferred stock will automatically convert into common stock upon the closing of the Issuer's initial public offering.

(4)

The option is fully vested.

(5)

Represents options held directly by Francis X. Egan, Managing Director of NCI.  In his capacity as a director of the Issuer, Mr. Egan was granted stock options by the Issuer.  Pursuant to an agreement between Mr. Egan and NCMI, Mr. Egan received such stock options as nominee for NCMI and NCMI is entitled under the agreement to all economic benefits of such stock options.  The Reporting Persons disclaim beneficial ownership of such stock options, and of any shares of common stock received in respect thereof, except to the extent of any indirect pecuniary interest the Reporting Persons may have therein.

(6)

Represents options held directly by Frances Kordyback, Managing Director of NCMI.  In her capacity as a director of the Issuer, Ms. Kordyback was granted stock options by the Issuer.  Pursuant to an agreement between Ms. Kordyback and NCMI, Ms. Kordyback received such stock options as nominee for NCMI and NCMI is entitled under the agreement to all economic benefits of such stock options.  The Reporting Persons disclaim beneficial ownership of such stock options, and of any shares of common stock received in respect thereof, except to the extent of any indirect pecuniary interest the Reporting Persons may have therein.