Great Elm Group Announces Strategic Investments Including Woodstead Value Fund Purchasing 4M Shares Of Great Elm Group As Well As An Affiliate Of Booker Smith Acquiring 1.3M Newly Issued Shares Of Great Elm Capital Corp At $11.65 Per Share Totaling $15M

– Woodstead Purchases 4.0 Million Shares of Great Elm Group's Common Stock –

– An Affiliate of Booker Smith Purchases 1.3 Million Shares of Great Elm Capital Corp.'s Common Stock –

– Company to Release Fiscal 2025 Earnings after Market Close on September 2, 2025, and Host Conference Call at 8:30 a.m. ET on September 3, 2025 –

Transaction Highlights:

• Woodstead Value Fund, L.P. ("Woodstead") purchased 4.0 million shares of newly issued common stock of Great Elm Group, Inc. ("GEG") at a price of $2.25 per share for gross proceeds of $9.0 million.
• Separately, Great Elm Capital Corp. ("GECC") sold 1.3 million newly-issued shares of its common stock to an affiliate of Booker Smith, representing 9.9% of GECC's outstanding common stock, at $11.65 per share for gross proceeds of $15.0 million.
• Booker Smith appointed to the GEG Board, bringing deep credit and real estate expertise.

Great Elm Group, Inc. ("we," "us," "our," "GEG" or "Great Elm,") (NASDAQ:GEG), a publicly traded alternative asset manager, today announced a strategic investment from Woodstead, an institutional investor with deep credit and real estate expertise.

Under the terms of the transaction, Woodstead is purchasing 4.0 million shares of GEG's common stock at a price of $2.25 per share for gross proceeds of $9.0 million. Woodstead will also hold 10-year warrants for an additional 1.0 million shares of GEG common stock struck at $3.50 and 1.0 million shares of GEG common stock struck at $5.00, further aligning Woodstead with GEG's shareholders.

As part of the transaction, Booker Smith has joined GEG's Board of Directors. Mr. Smith brings years of extensive experience across corporate credit and real estate investing, directly supporting GEG's key verticals. His background and skills will contribute to advancing Great Elm's strategic priorities, while his addition reflects the deep partnership formed through this investment.

"These transactions represent a significant milestone for Great Elm," said Jason Reese, Chief Executive Officer of Great Elm. "Booker's expertise across our core verticals, coupled with the capital commitment from Woodstead, provides meaningful resources to grow our assets under management, enhance profitability, and further align our investor base with long-term shareholder value creation."

"I am excited to join the Great Elm board and partner with management to build upon the Company's momentum," said Booker Smith. "GEG's differentiated alternative asset platform and strategic vision position the firm to continue scaling across both credit and real estate."