X0306 4 2018-11-15 0 0001675033 Great Elm Capital Corp. GECC 0001643733 Reed Peter A C/O GREAT ELM CAPITAL GROUP, INC. 800 SOUTH STREET, SUITE 230 WALTHAM MA 02453 1 1 0 0 See Remarks Common Stock 2018-11-15 4 P 0 41500 8.10 A 45507 D Common Stock 2018-11-19 4 P 0 20000 8.05 A 65507 D The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.08 to $8.13, inclusive. The reporting person undertakes to provide to Great Elm Capital Corp.("GECC"), any security holder of GECC, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within this range. President and Chief Executive Officer /s/ Adam M. Kleinman, Attorney-in-Fact for Reporting Person 2018-11-19