Great Elm Group, Inc. Q2 FY2024 earnings call

• Pivotal transaction: $24 million equity capital raise at GECC with GEG investing $6 million. - Launched Great Elm Credit Income Fund with $13 million total capital, GEG invested $6 million. - Solid fiscal second quarter 2024: Total revenue $2.8 million, 50% increase year-over-year; adjusted EBITDA $0.6 million, up from $0.1 million prior year; ended quarter with ~$69 million in cash and marketable securities. - Growth in fee-paying assets under management on sequential and year-over-year basis. - GECC had solid quarter with incentive fees and NAV growth. - Monomoy made strides with property acquisitions and lease amendments. - Intend to repurchase shares in open market as part of $10 million repurchase program. - Evaluating multiple strategic M&A opportunities.

For GECC: Generated total revenue of $2.8 million, 50% increase from prior year; GECC paid incentive fees to GEG for the third consecutive quarter of approx. $750,000, total fees earned from GECC for the quarter $1.7 million; net asset value at GECC grew to $12.99 per share as of Dec 31, 2023, with 30% return on equity. For Monomoy: Acquired three properties with in-place leases deploying $4 million of capital, amended nine existing tenant leases for term extensions, executed five-year renewal options on two properties with a key tenant; build-to-suit business made progress on two construction projects in Florida and Mississippi.

• Intend to repurchase shares in the open market as part of the $10 million common stock repurchase program approved in Nov 2023. - Continue to evaluate multiple strategic M&A opportunities in the promising pipeline.

Q: There are no questions at this time A: