Company to Host Conference Call and Webcast at 8:30 AM ET on November 3, 2026 Disciplined Portfolio Management and Selective Capital Deployment, Supported by a Growing Pipeline of Differentiated Investment Opportunities Net Investment Income (“NII”) of $0.17 Per Share in 3Q26 NAV of $7.40 Per Share as of September 30, 2026 Strong Liquidity Position with Approximately $6 Million of Cash and Equivalents, $44 Million of Revolving Credit Facility Availability, and Ample Liquid Assets as of September 30, 2026 Redeemed $6.5 Million of GECCI Notes due April 2029 , Retiring a Portion of Highest Cost and Nearest Term Debt Year-to-Date through October 30, 2026 , Repurchased Approximately 350,000 Shares at a 33% Discount to NAV on September 30, 2026 Board Declares $0.25 Per Share Distribution for 4Q26, Resulting in an Annualized Dividend Yield of 20.2% on GECC’s Closing Price as of October 30, 2026 PALM BEACH GARDENS, Fla. , Nov. 02, 2026 (GLOBE NEWSWIRE) -- Great Elm Capital Corp. (“we,” “our,” the “Company” or “GECC”) (NASDAQ: GECC), a business development company, today announced its financial results for the third quarter ended September 30, 2026 . Management Commentary Jason Reese , Chairman of the Board of Directors and Chief Executive Officer of the Company, stated: “Our third quarter results reflect a challenging credit environment and continued pressure on certain portfolio investments, particularly our CLO joint venture. While net investment income and NAV declined during the quarter, we remain focused on strengthening portfolio performance, maintaining disciplined underwriting standards and positioning GECC for more consistent earnings and long-term value creation. “We made meaningful progress advancing our investment strategy during the quarter, expanding our pipeline of private investment opportunities and further diversifying the portfolio. We continue to emphasize credit quality, attractive risk-adjusted returns and durable cash income, while leveraging our institutional relationships to access differentiated opportunities across private credit and select equity investments. Importantly, our underlying credit portfolio remains healthy. We also saw positive momentum across our specialty finance platform, with distributions from Great Elm Specialty Finance increasing meaningfully during the quarter. “We remain actively engaged with our CLO partners to address performance and identify opportunities to enhance the value of those investments. At the same time, we continue to manage our balance sheet proactively, reducing our highest-cost debt while maintaining substantial liquidity and financial flexibility. We also repurchased shares at a significant discount to NAV, reflecting our confidence in the long-term value of our portfolio and our commitment to disciplined capital allocation. “Looking ahead, we believe our growing pipeline of differentiated investments, strong liquidity position and continued focus on portfolio optimization provide a solid foundation for improving earnings performance and creating long-term shareholder value.” Recent Board Actions and Shareholder Returns The Company’s Board of Directors approved a quarterly dividend of $0.25 per share for the fourth quarter of 2026, equating to a 20.2% annualized yield on GECC’s October 30, 2026 , closing price of $4.95 . From July 1, 2026 , through October 30, 2026 , the Company repurchased 241,235 shares for approximately $1.2 million , at an average price of $4.95 per share or a 33% discount to the Company’s net asset value (“NAV”) on September 30, 2026 . Third Quarter and Recent Operating Highlights Total investment income (“TII”) for the quarter ended September 30, 2026 , was $8.7 million , as compared to $10.9 million for the quarter ended June 30, 2026 . The quarter-over-quarter decrease was primarily driven by a $2.0 million dividend received from the Company's investment in insurance-related preference shares in the prior quarter. Net investment income (“NII”) for the quarter ended September 30, 2026 , was $2.4 million , or $0.17 per share, as compared to $4.5 million , or $0.32 per share, for the quarter ended June 30, 2026 . The decrease in NII was primarily driven by lower TII and the reinstatement of incentive fee accruals following the waiver of such fees in the prior quarter. Net assets were $102.7 million , or $7.40 per share, as of September 30, 2026 , as compared to $110.4 million , or $7.95 per share, as of June 30, 2026 . The 6.9% quarter-over-quarter decrease in net assets was primarily driven by realized and unrealized investment losses, including a $3.3 million decrease in the fair value of the CLO Formation JV investment. During the quarter ended September 30, 2026 , GECC received $0.8 million of distributions from its CoreWeave-related equity investment, bringing total distributions to date to approximately $10.3 million , well in excess of its $6.0 million original capital investment. GECC’s asset coverage ratio was 166.3%