X0306 4 2018-09-30 0001494448 EMERGENT CAPITAL, INC. EMGC 0001370182 Sarachek Joseph E C/O KELLEY DRYE & WARREN LLP 101 PARK AVENUE NEW YORK NY 10178 1 0 1 0 Common Stock, par value $.01 per share 2018-09-30 4 M 0 400000 A 400000 D Common Stock, par value $.01 per share 7320038 I By JSARCo, LLC Warrants (right to buy) .20 2023-07-28 Common Stock, par value $0.01 per share 13575000 13575000 I By JSARCo, LLC Restricted Stock Units 2018-09-30 4 M 0 400000 0 D Common Stock, par value $0.01 per share 400000 0 D Stock Appreciation Right 1.00 2028-06-28 Common Stock, par value $0.01 per share 100000 100000 D Mr. Sarachek is the principal and manager of TopCo 1, LLC, which is the manager of JSARCo, LLC. Of such warrants, 8,750,000 vested on July 28, 2017 and 4,825,000 will vest in connection with the conversion of the issuer's senior unsecured convertible notes outstanding as of July 28, 2017 (the "Outstanding Convertible Notes") into shares of the issuer's common stock on a 1 to 1 basis, or earlier upon the earliest date on which (x) at least 50% of the aggregate principal amount of the Outstanding Convertible Notes are converted into shares of the issuer's common stock, or (y) all of the Outstanding Convertible Notes are no longer outstanding. Each Restricted Stock Unit represents a contingent right to receive one share of the Issuer's Common Stock. The awards vest on the later of September 30, 2018 or the date of termination of the Reporting Person's service on the Capital Structure Committee of the Issuer's Board of Directors. Because Joseph E. Sarachek, a director of the issuer, has voting and investment power over securities beneficially owned by TopCo 1, LLC and JSARCo, LLC, TopCo 1, LLC and JSARCo, LLC, may be deemed to be directors by deputization. /s/ Joseph E. Sarachek 2019-06-10