X0407 4 2023-04-03 0001831096 Great Elm Group, Inc. GEG 0001458693 Drapkin Matthew A C/O NORTHERN RIGHT CAPITAL MANAGEMENT, L.P., 9 OLD KINGS HWY S., 4TH FLOOR DARIEN CT 06820 true true false Common Stock 1814596 I See Footnote Common Stock 1834591 I See Footnote Common Stock 2023-04-03 4 J 0 21763 0 A 425171 D Represents shares of common stock held directly by Northern Right Capital (QP), L.P., a Texas limited partnership ("Northern Right QP"). Represents shares of common stock purchased by managed accounts (the "Managed Accounts") on behalf of certain investment advisory clients of Northern Right Capital Management, L.P. ("Northern Right Management"). As general partner and investment manager of Northern Right QP, Northern Right Capital Management, L.P. ("Northern Right Management") may be deemed to be the beneficial owner of the shares of common stock held by Northern Right QP. As the investment manager of the Managed Accounts, Northern Right Management may also be deemed to be the beneficial owner of the shares of common stock held by the Managed Accounts. As general partner of Northern Right Management, BC Advisors, LLC, a Texas limited liability company ("BCA") may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by Northern Right Management. As the managing member of BCA, the Reporting Person may be deemed to be the beneficial owner of the shares of common stock beneficially owned (or deemed beneficially owned) by BCA. (continued from footnote 3) The Reporting Person disclaims such beneficial ownership of the shares of common stock indirectly owned through his position with BCA, except to the extent of his pecuniary interest therein. The Reporting Person was awarded 21,763 shares of restricted stock, which vest in three equal installments on the end of each quarter beginning on June 30, 2023 through December 31, 2023, contingent upon continued service as a member of the board of directors of Great Elm Capital Corp. /s/ Adam M. Kleinman, attorney-in-fact 2023-04-05