I’ve tested this on all three of my characters with different armour pieces & Wardcliff Coil only ever gets it’s default max ammo count of 5 rockets, whereas other exotic weapons get extra ammo with the corresponding reserves perk.
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my legendary rocket with rocket reserves on my helm and class item has 8 my Twin Tail Fox gets 7 5 default and 2 more from reserves and Wardcliff stays at 5 hope they fix it soon wardcliff should have 7 max from both reserve perks