Pendrell
PCO

The Company estimates that the Reverse Split has reduced the number of outstanding shares of Common Stock from approximately 24.4 million shares to approximately 240,000 shares. In connection with the Reverse Split, the CUSIP number for the Class A Common Stock was changed to 70686R500 and the CUSIP number for the Class B Common Stock was changed to 70686R609. We anticipate the change to the CUSIP number and the impact of the Reverse Split will be evidenced on the NASDAQ stock exchange on or about December 5, 2017. The Reverse Split affects all Company shareholders uniformly and does not affect any shareholder’s percentage ownership interest in the Company, except to the extent that shares fractionalized by the Reverse Split are cashed-out. Shareholders who hold shares fractionalized by the Reverse Split (those shareholders with a share count not evenly divisible by 100) did not receive fractional shares. Instead, the fractionalized shares were cancelled and converted into the right to receive a cash payment equal to $6.73 per fractionalized share.

from December 31, 2016 to September 30, 2017 Repurchase of Class A common stock Shares relinquished by the Liquidating Trust Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2016 to June 30, 2017 Repurchase of Class A common stock Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2016 to March 31, 2017 Repurchase of Class A common stock Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2015 to December 31, 2016 Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures The Company will effect a 1-for-10 reverse stock split (the "Reverse Split") of the Company’s outstanding Class A Common Stock and Class B Common Stock (collectively, the "Common Stock"), which will become effective as of 5:00 p.m., Pacific time, on September 30, 2016 (the "Effective Time").

From December 31, 2015 to October 3, 2016 Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures The Company will effect a 1-for-10 reverse stock split (the "Reverse Split") of the Company’s outstanding Class A Common Stock and Class B Common Stock (collectively, the "Common Stock"), which will become effective as of 5:00 p.m., Pacific time, on September 30, 2016 (the "Effective Time").

From December 31, 2015 to June 30, 2016 Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

From December 31, 2015 to March 31, 2016 Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2014 to December 31, 2015 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures Repurchase of restricted stock Shares received through divesture of Ovidian

from December 31, 2014 to September 30, 2015 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures Repurchase of restricted stock

from December 31,2014 to June 30,2015 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures Repurchase of restricted stock

from December 31, 2014 to March 31, 2015 Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2013 to December 31, 2014 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2013 to September 30, 2014 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2013 to June 30, 2014 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from March 31, 2013 to March 31, 2014 Issuance of Class A common stock from exercise of stock options Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2012 to December 31, 2013 Issuance of Class A common stock from exercise of stock options and warrants Class A common stock withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2012 to September 30, 2013 Issuance of Class A common stock from exercise of stock options and warrants Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2012 to June 30, 2013 Issuance of Class A common stock from exercise of stock options and warrants Class A common stock withheld at vesting to cover statutory tax obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2011 to December 31, 2012 Issuance of Class A common stock from exercise of stock options and warrants Class A common stock withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures Shares held by Liquidating Trust

from December 31, 2010 to December 31, 2011 Issuance of Class A common stock for advisory services Issuance of Class A common stock for Ovidian Group acquisition Issuance of Class A common stock from exercise of stock options Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2009 to December 31, 2010 Issuance of Class A common stock for advisory services Issuance of Class A common stock for Rights Offering,net of issuance costs Issuance of Class A common stock from exercise of stock options Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock,net of forfeitures

Issuance of Class A common stock for advisory services Issuance of Class A common stock for Rights Offering, net of issuance costs Issuance of Class A common stock from exercise of stock options Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

Issuance of Class A common stock for advisory services Issuance of Class A common stock for Rights Offering, net of issuance costs Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2008 to December 31, 2009 Issuance of Class A common stock for advisory services Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock,net of forfeitures

from December 31, 2007 to December 31, 2008 Issuance of Class A common stock under securities purchase agreements Issuance of Class A common stock for advisory services Issuance of Class A common stock for settlement of litigation matter Class A shares withheld at vesting to cover income tax withholding obligations Stock-based compensation and issuance of restricted stock, net of forfeitures

from December 31, 2006 to December 31, 2007 Issuance of Class A common stock for advisory services Conversion of Class B common stock Issuance of Class A common stock from exercise of stock options Stock-based compensation and issuance of restricted stock

from December 31, 2005 to December 31, 2006 Issuance of Class A common stock Class A shares withheld at vesting in order to cover income tax withholding obligations Conversion of Class B common stock Issuance of Class A common stock from exercise of warrants