X0508 4 2023-09-25 0 0001831096 Great Elm Group, Inc. GEG 0001479613 Reese Jason W. C/O IMPERIAL CAPITAL ASSET MANAGEMENT 3801 PGA BOULEVARD, SUITE 603 PALM BEACH GARDENS FL 33410 1 1 1 0 Chief Executive Officer 0001805378 Imperial Capital Asset Management, LLC 3801 PGA BOULEVARD, SUITE 603 PALM BEACH GARDENS FL 33410 0 0 1 0 0001308057 LONG BALL PARTNERS LLC C/O IMPERIAL CAPITAL ASSET MANAGEMENT 3801 PGA BOULEVARD, SUITE 603 PALM BEACH GARDENS FL 33410 0 0 1 0 0001961798 Imperial Capital Group Holdings II, LLC 3801 PGA BOULEVARD, SUITE 603 PALM BEACH GARDENS FL 33410 0 0 1 0 0 Common stock, par value $0.01 per share ("Common Stock") 6038087 I See Footnotes Common Stock 2023-09-25 4 A 0 132850 0.00 A 862911 D Consists of 4,668,103 shares held directly by Long Ball Partners, LLC ("Long Ball"), 909,084 shares held directly by Imperial Capital Asset Management, LLC ("ICAM"), and 460,900 shares held directly by Imperial Capital Group Holdings II, LLC ("ICGH2"). Mr. Reese is portfolio manager to Long Ball and is Chairman and Chief Executive Officer of ICAM, which is the managing member of and investment manager to Long Ball. Mr. Reese is one of the owners of Imperial Capital Group Holdings, LLC, which is the managing member of ICGH2. Mr. Reese has voting and dispositive power over the shares of Common Stock held directly by each of Long Ball, ICAM and ICGH2. Each of Mr. Reese, ICAM, Long Ball and ICGH2 disclaims beneficial ownership of the securities reported herein, except to the extent of that person's pecuniary interest. On September 25, 2023, Jason Reese was awarded 132,850 shares of restricted stock, 25% of which vested on September 25, 2023, with 25% to vest on each of September 20, 2024, September 20, 2025 and September 20, 2026. Reflects shares directly beneficially owned by Mr. Reese. Mr. Reese is a Chairman and Chief Executive Officer of the Issuer. Jason Reese By: /s/ Jason Reese 2023-09-27 Long Ball Partners, LLC, By: Imperial Capital Asset Management, LLC, its Managing Member, By: /s/ Jason Reese, Chairman & CEO 2023-09-27 Imperial Capital Asset Management, LLC, By: /s/ Jason Reese, Chairman & CEO 2023-09-27 Imperial Capital Group Holdings II, LLC, By: /s/ Jason Reese, its Authorized Signatory 2023-09-27