X0306 4 2017-05-12 1 0001082506 Great Elm Capital Group, Inc. GEC 0001429074 Mast Capital Management, LLC 200 CLARENDON STREET 51ST FLOOR BOSTON MA 02116 0 0 1 0 0001429076 Steinberg David J. 200 CLARENDON STREET 51ST FLOOR BOSTON MA 02116 0 0 1 0 Common Stock 2017-05-12 4 S 0 1136792 3.35 D 971386 I See footnotes Common Stock 2017-05-12 4 S 0 482900 3.30 D 488486 I See footnotes Common Stock 2017-05-12 4 S 0 488486 3.30 D 0 I See footnotes Represents shares of Common Stock, $0.001 Par Value (the "Common Stock"), of Great Elm Capital Group, Inc., a Delaware corporation (f/k/a Unwired Planet, Inc.), held directly by Mast OC I Master Fund L.P. (the "MAST Account"), a private investment fund of which MAST Capital Management, LLC ("MAST Capital") is the investment manager. As the investment advisor of the MAST Account, MAST Capital may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Account. MAST Capital also has the right to an asset-based fee relating to the MAST Account. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein. Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein. Mast Capital Management, LLC, By: /s/ David J. Steinberg, Name: David J. Steinberg, Title: Authorized Signatory 2017-05-16 /s/ David J. Steinberg 2017-05-16