JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced today that its wholly owned subsidiary, JMP Group Inc., has given notice of its intention to redeem $10.0 million principal amount (400,000 Units) of its 7.25% Senior Notes due 2027 (CUSIP No. 466273 109; NASDAQ: JMPNL) (the “2027 Notes”) on February 4, 2021 (the “Redemption Date”). As of January 4, 2021, $50,000,000 in aggregate principal amount of the 2027 Notes were outstanding. The redemption is being made pursuant to the terms of the 2027 Notes and the indenture governing the 2027 Notes. The redemption price per 2027 Note will be $25 plus accrued and unpaid interest up to, but excluding, the Redemption Date. The redeemed 2027 Notes will be cancelled and not subject to reissuance.

JMP Group Inc. instructed U.S. Bank National Association, as the trustee for the 2027 Notes, to distribute a Notice of Redemption on January 4, 2021, to all currently registered holders of the 2027 Notes. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the 2027 Notes may be obtained from U.S. Bank National Association by calling (800) 934-6802 (toll-free). JMP Group Inc. will use available cash to redeem the 2027 Notes.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to the expected redemption of the 2027 Notes. Forward-looking statements provide JMP Group’s current expectations or forecasts about future events, including beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expected or implied by the forward-looking statements. The company’s actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors described in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the company’s Form 10-K for the year ended December 31, 2019, as filed with the U.S. Securities and Exchange Commission on March 30, 2020. Such forward-looking statements speak only as of the date of this press release. Unless required by law, JMP Group undertakes no obligation to publicly update or revise any forward-looking statement to reflect circumstances or events after the date of this press release.

About JMP Group

JMP Group LLC is a diversified capital markets firm that provides investment banking, equity research, and sales and trading services to corporate and institutional clients as well as alternative asset management products and services to institutional and high-net-worth investors. JMP Group conducts its investment banking and research, sales and trading activities through JMP Securities; its venture capital and private capital activities through Harvest Capital Strategies and JMP Asset Management; and the management of Harvest Capital Credit Corporation (NASDAQ: HCAP), a business development company, through HCAP Advisors. For more information, visit www.jmpg.com.

Investor Relations Contact JMP Group LLC Andrew Palmer (415) 835-8978 apalmer@jmpg.com

Media Relations Contacts Dukas Linden Public Relations, Inc. Zach Leibowitz (646) 722-6528 zach@dlpr.com

Michael Falco (646) 808-3611 michael@dlpr.com

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