Northern Right Capital Management, L.P. - 15 Jul 2025 SCHEDULE 13D/A Report for Great Elm Group, Inc. Common Stock, $0.001 Par Value (GEG)

Reporting Managers (6)

Name	Ownership	Shares Owned	sole voting power	shared voting power	Signature	Title	CIK
Northern Right Capital Management, L.P.	18%	5,368,223	3,088,745	2,279,478	/s/ Matthew A. Drapkin	Managing Member of BC Advisors, LLC, the general partner of Northern Right Capital Management, L.P.	0001346543
Northern Right Capital (QP), L.P.	5.7%	1,662,331	1,662,331	0	/s/ Matthew A. Drapkin	Managing Member of BC Advisors, LLC, the gen. part. of Northern Right Capital Management, L.P., the gen. part. of Northern Right Capital (QP), L.P.	0001451722
Northern Right Long Only Master Fund LP	2.1%	617,147	617,147	0	/s/ Matthew A. Drapkin	Managing Member of Northern Right Fund GP LLC, the general partner of Northern Right Long Only Master Fund LP	0002052537
Northern Right Fund GP LLC	2.1%	617,147	0	617,147	/s/ Matthew A. Drapkin	Matthew A. Drapkin, Managing Member	0002053060
BC Advisors LLC	18%	5,368,223	0	5,368,223	/s/ Matthew A. Drapkin	Matthew A. Drapkin, Managing Member	0001349003
Drapkin Matthew A	21%	6,026,001	657,778	5,368,223	/s/ Matthew A. Drapkin	Matthew A. Drapkin	0001458693