X0306 4 2021-12-08 0 0000797465 HG Holdings, Inc. STLY 0001602824 Hale Partnership Capital Management, LLC 2115 E. 7TH STREET SUITE 101 CHARLOTTE NC 28204 0 0 1 0 0001667535 Hale Steven A II 2115 E. 7TH STREET SUITE 101 CHARLOTTE NC 28204 1 1 1 0 Chairman and CEO 0001496265 Hale Partnership Fund, L.P. 2115 E. 7TH STREET SUITE 101 CHARLOTTE NC 28204 0 0 1 0 Common Stock, par value $0.02 per share 703019 I Hale Partnership Fund, L.P. Common Stock, par value $0.02 per share 97678 I Clark - Hale Fund, L.P. Common Stock, par value $0.02 per share 30245 I MGEN II - Hale Fund, L.P. Common Stock, par value $0.02 per share 1900 I Smith - Hale Fund, L.P. Common Stock, par value $0.02 per share 2021-12-08 4 P 0 500 10.10 A 500 I Dickinson - Hale Fund, L.P. Common Stock, par value $0.02 per share 2021-12-09 4 P 0 800 10.00 A 1300 I Dickinson - Hale Fund, L.P. Common Stock, par value $0.02 per share 2021-12-10 4 P 0 700 10.05 A 2000 I Dickinson - Hale Fund, L.P. Common Stock, par value $0.02 per share 2021-12-10 4 P 0 700 10.00 A 2700 I Dickinson - Hale Fund, L.P. Hale Partnership Capital Advisors, LLC ("Hale GP"), as the general partner to each of Hale Partnership Fund, L.P., Clark - Hale Fund, L.P., MGEN II - Hale Fund, L.P., Smith - Hale Fund, L.P. and Dickinson - Hale Fund, L.P. (collectively, the "Hale Funds"), Hale Partnership Capital Management, LLC ("Hale Advisor"), as the investment manager to each of the Hale Funds, and Steven A. Hale II ("Mr. Hale"), as a principal of each of Hale GP and Hale Advisor, may be deemed to be beneficial owners of the shares held directly by the Hale Funds. Mr. Hale is the Chairman and Chief Executive Officer and a director of HG Holdings, Inc. (the "Company"). Each of Hale GP, Hale Advisor and Mr. Hale disclaims beneficial ownership of the shares referred to herein, except to the extent of its or his pecuniary interest therein. Does not include (i) 27,777 shares of Common Stock held directly by Mr. Hale pursuant to a restricted stock award granted to him in his individual capacity as Chairman and Chief Executive Officer of the Company or (ii) 139,326 shares of Common Stock held in a discretionary separately managed account for which Hale Advisor serves as investment manager. /s/ Steven A. Hale II, Manager, on behalf of Hale Partnership Capital Management, LLC 12/10/2021 /s/ Steven A. Hale II, Manager of Hale Partnership Capital Advisors, LLC, its General Partner, on behalf of Hale Partnership Fund, L.P. 12/10/2021 /s/ Steven A. Hale II 2021-12-10