Great Elm Group, Inc. · NASDAQ:GEG
Great Elm — Q1 FY2027 Earnings Presentation
17 slides from Great Elm's earnings presentation, Nov 5, 2026
Slide 1: Fiscal First Quarter 2027 Ended September 30, 2026
November 5, 2026 Fiscal First Quarter 2027 Ended September 30, 2026 NASDAQ: GEG
Slide 2: GEG Highlights
GEG Highlights • Net Loss: Fiscal 1Q27 net loss was $(4.1) million, compared to $(7.0) million in the prior-year period, reflecting lower net realized and unrealized investment losses • Capital Raises: GEG and its managed vehicles have raised nearly $400 million of gross capital since July 1, 2025 o
Slide 3: About GEG
About GEG Great Elm Group, Inc. (GEG) is a publicly traded alternative asset manager focused on: • Growing a scalable and diversified portfolio of long-duration and permanent capital vehicles • Investing in credit, real estate, and other alternative strategies Alternative Credit • Focus on capital p
Slide 4: GEG Platform
GEG Platform ALTERNATIVE CREDIT REAL ESTATE GECC Private Vehicles Monomoy REIT Real Estate Ventures • Public BDC with • Great Elm’s private credit • Private REIT focused on • Monomoy BTS (“MBTS”) ~$250+ million AUM strategy focuses on direct industrial outdoor storage develops properties from the •
Slide 5: Summary Financial Position
Summary Financial Position GEG September 30, 2026, condensed balance sheet $ Millions September 30, 2026 Cash & Cash Equivalents $43.2 Current Liabilities $5.5 Investments 35.2 Current Debt 26.7 Other Current and Long-Term 31.6 Convertible Notes 36.5 Assets Other Liabilities 4.7 Total Liabilities $7
Slide 6: Real Estate Highlights
Real Estate Highlights Asset Management Fees Transaction Activity Project Activity Ramp in Business MCRE generated fee revenue of In fiscal 1Q27, MREIT closed four MBTS is nearing completion of MCS continues to focus on $1.1 million for the quarter property acquisitions, deploying its fourth build-t
Slide 7: Alternative Credit Highlights
Alternative Credit Highlights Optimized Portfolio Enhancing Capital Structure GECC continued to deploy capital selectively GECC redeemed $6.5 million of GECCI notes, in private investment, high yield bond and BSL its highest-cost and nearest-term debt, and has markets, focused on credit quality, cur
Slide 8: Stock Repurchases
Stock Repurchases Disciplined execution of repurchases continues to support long-term shareholder value Fiscal 1Q27 Repurchase Activity • Repurchased 265,978 shares at an average price Significant Stock Repurchases1 of $2.20 per share since June 30, 2026 1,732 1,371 Cumulative Impact of Share Repurc
Slide 9: Fiscal 2027 First Quarter Financial Review
Fiscal 2027 First Quarter Financial Review November 5, 2026 9
Slide 10: Fiscal 1Q27 Financial Highlights
Fiscal 1Q27 Financial Highlights Revenue Net Loss Adjusted EBITDA1 • FY1Q27 revenue of $3.3 million, • Net loss of $(4.1) million for • FY1Q27 Adjusted EBITDA of compared to $10.8 million in the FY1Q27, compared to net loss $(0.9) million, compared to prior-year period of $(7.0) million in the prior
Slide 11: Assets Under Management
Assets Under Management $mm AUM $mm FPAUM $785 $760 $800 $750 $594 $600 $564 $600 $450 $400 $300 $200 $150 $0 $0 9/30/2025 9/30/2026 9/30/2025 9/30/2026 $760 million of Assets Under Management (“AUM”) $564 million of Fee-Paying AUM (“FPAUM”) as of as of September 30, 2026, down 3% from September 30,
Slide 12: Financial Review: Fiscal 1Q27 Balance Sheet
Financial Review: Fiscal 1Q27 Balance Sheet In thousands September 30, 2026 June 30, 2026 ASSETS Cash and cash equivalents $ 43,204 $ 53,474 Receivables from managed funds 3,973 3,954 Investments at fair value 35,217 32,612 Prepaid and other current assets 1,771 1,671 Identifiable intangible assets,
Slide 13: Financial Review: Fiscal 1Q27 Income Statement
Financial Review: Fiscal 1Q27 Income Statement Three months ended September 30, In thousands 2026 2025 Revenues $ 3,338 $ 10,788 Cost of Revenues - 6,748 Operating costs and expenses: Compensation and benefits 5,034 5,237 Selling, general and administrative 1,487 2,166 Depreciation and amortization
Slide 14: Results By Quarter
Results By Quarter Three Months Ended September 30, June 30, March 31, December 31, September 30, In thousands 2026 2026 2026 2025 2025 NON-GAAP RECONCILIATION Net (loss) income $ (4,146) $ 1,064 $ (13,520) $ (16,548) $ (7,904) Interest expense 1,055 1,023 1,033 1,022 1,028 Income tax (benefit) expe
Slide 15: Results Year-Over-Year
Results Year-Over-Year Three months ended September 30, In thousands 2026 2025 NON-GAAP RECONCILIATION Net loss $ (4,146) $ (7,904) Interest expense 1,055 1,028 Income tax (benefit) expense (5) 71 Depreciation and amortization 305 342 Non-cash compensation 1,090 1,331 Loss on investments 803 4,669 A
Slide 16: Contact Information
Contact Information Investor Relations Contact geginvestorrelations@greatelmcap.com November 5, 2026 16
Slide 17: Disclaimer
Disclaimer Statements in this presentation that are “forward-looking” statements, including statements regarding expected growth, profitability, acquisition opportunities and outlook involve risks and uncertainties that may individually or collectively impact the matters described herein. Investors