13D Filing: Harbert Discovery Fund, LP and Qumu Corp (QUMU)

As of the date hereof, (i) HFA, HMC, the
Fund GP, the Fund, Jack Bryant, Kenan Lucas and Raymond Harbert may be deemed to be the beneficial owners of
1,096,879 Shares, constituting 11.7% of the Shares, based upon *9,399,455 Shares outstanding as of the date
hereof.

HFA has the sole power to vote or direct
the vote of 0 Shares; has the shared power to vote or direct the vote of 1,096,879 Shares; has the sole power to
dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of
1,096,879 Shares.

HMC has the sole power to vote or direct the
vote of 0 Shares; has the shared power to vote or direct the vote of 1,096,879 Shares; has the sole power to dispose or direct
the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 1,096,879 Shares.

The Fund GP has the sole power to vote or
direct the vote of 0 Shares; has the shared power to vote or direct the vote of  1,096,879 Shares; has the sole
power to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition
of 1,096,879 Shares.

The Fund has the sole power to vote or direct
the vote of 0 Shares; has the shared power to vote or direct the vote of 1,096,879 Shares; has the sole power to dispose or direct
the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of 1,096,879 Shares.

Jack Bryant has the sole power to vote or
direct the vote of 0 Shares; has the shared power to vote or direct the vote of 1,096,879 Shares; has the sole power
to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition of
1,096,879 Shares.

Kenan Lucas has the sole power to vote or
direct the vote of 0 Shares; has the shared power to vote or direct the vote of  1,096,879 Shares; has the sole
power to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the disposition
of  1,096,879 Shares.

Raymond Harbert has the sole power to
vote or direct the vote of 0 Shares; has the shared power to vote or direct the vote of 1,096,879 Shares; has the
sole power to dispose or direct the disposition of 0 Shares; and has the shared power to dispose or direct the
disposition of  1,096,879 Shares.

The transactions by the Reporting Persons in
the securities of the Issuer in the last sixty days are set forth in Exhibit B. All such transactions were carried out in open
market transactions.

*This outstanding Shares figure reflects the
number of outstanding Shares at August 4, 2017, as reported in the Issuer’s Form 10-Q, filed on August 8, 2017