JMP Group Announces Partial Redemption of 8.00% Senior Notes Due 2023

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 of its 8.00% Senior Notes due 2023 (CUSIP No. 46629U
206; NYSE: JMPB) (the “2023 Notes”) on July 31, 2018 (the “Redemption
Date”). As of July 9, 2018, $46,000,000 in aggregate principal amount of
the 2023 Notes were outstanding. The redemption is being made pursuant
to the terms of the 2023 Notes and the indenture governing the 2023
Notes. The redemption price per 2023 Note will be $25 plus accrued and
unpaid interest up to, but excluding, the Redemption Date. The redeemed
2023 Notes will be cancelled and not subject to reissuance.

JMP Group Inc. instructed U.S. Bank National Association, as the trustee
for the 2023 Notes, to distribute a Notice of Redemption on June 29,
2018, to all currently registered holders of the 2023 Notes. Copies of
such Notice of Redemption and additional information relating to the
procedure for redemption of the 2023 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 2023 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
partial redemption of the 2023 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, 2017, as filed with the U.S.
Securities and Exchange Commission on March 28, 2018. 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 hedge fund, venture
and private capital, and credit management activities through Harvest
Capital Strategies, JMP Asset Management and JMP Credit Advisors; and
the management of Harvest Capital Credit Corporation (NASDAQ: HCAP), a
business development company, through HCAP Advisors. For more
information, visit www.jmpg.com.

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