GECC

SEC source: 0000899243-19-010919 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,695,008

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,705 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 995 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3392 on April 16, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,594,057 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 100,951 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-009370 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,711,708

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,047 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 953 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.2 to $8.2576, inclusive, on April 1, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,609,762 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 101,946 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-009370 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,814,608

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 5,549 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 351 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2688 on March 29, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,706,533 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 108,075 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-009370 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,820,508

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 6,018 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 382 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2938 on March 28, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,712,082 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 108,426 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-009036 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,826,908

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,047 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 953 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3540 on March 26, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,941,172 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 122,936 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-009036 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 1,842,908

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 192,978 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 12,222 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in a multiple transactions at price of $8.2217 on March 25, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,733,147 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 109,761 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008821 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,048,108

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,047 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 953 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2391 on March 22 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,926,125 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 121,983 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008821 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,064,108

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 4,044 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 256 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3089 on March 21, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,941,172 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 122,936 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008821 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,068,408

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 3,480 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 220 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3168 on March 20, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,945,216 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 123,192 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008353 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,072,108

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 8,934 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 566 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2816 on March 19 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,948,696 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 123,412 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008353 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,081,608

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 4,514 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 286 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1696 on March 18, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,957,630 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 123,978 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-008353 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,086,408

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 16,936 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,073 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1532 on March 15, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,962,144 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 124,264 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007736 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,104,417

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 9,781 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 619 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0975 on March 14 2019.

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,979,080 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 125,337 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007736 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,114,817

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 33,762 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 2,138 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1376 on March 13, 2019.

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 1,988,861 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 125,956 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007736 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,150,717

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 16,646 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,054 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2087 on March 12, 2019.

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,022,623 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 128,094 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007064 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,168,417

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 9,216 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 584 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.16 on March 11 2019.

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,039,269 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 129,148 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007064 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,178,217

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 7,900 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 500 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0884 on March 8, 2019.

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,048,485 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 129,732 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-007064 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,186,617

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 16,552 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,048 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1693 on March 7, 2019.

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,056,385 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 130,232 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-006536 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,204,217

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 5,925 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 375 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2030 on March 6, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,072,937 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 131,280 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-006536 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,210,517

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 13,636 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 864 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1613 on March 5, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,145,821 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 135,896 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-006536 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,225,017

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,705 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 905 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2904 on March 4 27, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,092,498 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 132,519 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-005491 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,241,717

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 37,618 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 2,382 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.4181 on March 1, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,108,203 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 133,514 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-005491 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,281,717

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 10,699 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 701 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3302 on February 28, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,145,821 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 135,896 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-005491 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,293,117

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 9,385 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 615 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3794 on February 27, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,156,520 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 136,597 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004900 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,307,791

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 27,592 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,808 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.5034 on February 26, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,165,905 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 141,886 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004900 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,337,191

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 30,502 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,998 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.479 on February 25, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,193,497 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 143,694 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004900 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,369,691

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 14,735 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 965 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.4493 on February 22, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,223,999 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 145,692 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004413 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,385,391

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 6,006 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 394 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3891 on February 21, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,238,734 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 146,657 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004413 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,391,791

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 10,887 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 713 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.382 on February 20, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,244,740 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 147,051 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-004413 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,403,391

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 19,615 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,285 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.32 on February 19, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,255,627 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 147,764 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003863 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,424,291

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 11,262 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 738 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.3054 on February 15, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,275,242 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 159,049 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003863 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,436,291

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,392 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,008 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2848 on February 14, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,321,041 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 152,050 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003863 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,452,691

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 11,262 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 738 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.2648 on February 13, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,301,896 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 150,795 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003349 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,464,691

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 7,883 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 517 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1626 on February 12, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,313,158 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 151,533 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003349 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,473,091

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 5,537 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 363 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.133 on February 11, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,321,041 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 152,050 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-003349 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,478,991

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 5,631 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 369 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1475 on February 8, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,326,578 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 152,413 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002904 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,484,991

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 8,447 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 553 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1372 on February 7, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,332,209 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 152,782 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002904 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,493,991

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 13,796 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 904 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.1374 on February 6, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,393,025 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 156,766 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002904 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,508,691

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 15,110 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 990 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0759 on February 5, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,354,452 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 154,239 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002480 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,524,791

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 23,463 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,537 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0128 on February 4, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,369,562 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 155,229 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002480 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,549,791

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 4,880 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 320 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0003 on February 1, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,393,025 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 156,766 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002480 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,554,991

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 8,447 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 553 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0053 on January 31, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,397,905 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 157,086 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002209 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,563,991

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 9,150 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 600 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0049 on January 30, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,406,352 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 157,639 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002209 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,573,741

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 6,570 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 430 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $8.0076 on January 29, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,415,502 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 158,239 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-002209 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 25,807,417

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 14,171 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 929 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.9882 on January 28, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,422,072 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 158,669 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-001964 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,595,841

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 17,362 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 1,138 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.9513 on January 25, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,436,243 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 159,598 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-001964 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,614,341

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 4,379 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 287 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.9521 on January 24, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,456,605 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 160,736 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-001964 · doc4.xml · nonDerivative · entry 1

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,619,007

F1 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 8,947 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 586 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F2 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.951 on January 23, 2019

F3 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,457,984 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 161,023 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-001645 · doc4.xml · nonDerivative · entry 3

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,628,540

F9 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 6,124 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 401 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F10 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.9553 on January 22, 2019

F11 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,466,931 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 161,609 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.

SEC source: 0000899243-19-001645 · doc4.xml · nonDerivative · entry 2

Mast Capital Management, LLC · CIK 0001429074 · 10% owner

Steinberg David J. · CIK 0001429076 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnotes

Disclosed balance after: 2,635,065

F6 · shares: Represents shares of Common Stock, $0.01 Par Value, of Great Elm Capital Corp., a Maryland corporation (the "Common Stock" and the "Issuer"), sold by the following Mast Accounts: (i) 4,646 shares of Common Stock sold by Mast Select Opportunities Master Fund, L.P. and (ii) 304 shares of Common Stock sold by Mast Admiral Master Fund, L.P.

F7 · price: The price reported in Column 4 is not a weighted average price. These shares were sold in a single transaction at price of $7.9515 on January 18, 2019

F8 · balance_after: Represents shares of Common Stock held directly by the Mast Accounts, for which MAST Capital is the investment manager, including: (i) 2,473,055 shares held by Mast Select Opportunities Master Fund, L.P and (ii) 162,010 shares held by Mast Admiral Master Fund, L.P.

F4 · ownership.nature: As the investment advisor of certain private investment funds (collectively, the "MAST Accounts"), including those disclosed herein, MAST Capital Management, LLC ("MAST Capital") may be deemed to be the beneficial owner of the shares of Common Stock held by the MAST Accounts disclosed herein. MAST Capital also has the right to an asset-based fee relating to the MAST Accounts. Pursuant to Rule 16a-1, MAST Capital disclaims such beneficial ownership, except to the extent of its pecuniary interest therein.

F5 · ownership.nature: Mr. Steinberg may also be deemed to beneficially own the shares of Common Stock beneficially owned (or deemed to be beneficially owned) by MAST Capital, as he is the principal of MAST Capital. Pursuant to Rule 16a-1, Mr. Steinberg disclaims such beneficial ownership, except to the extent of his pecuniary interest therein.