Pendrell Corp (PCO): Highland Capital Halves Its Stake Following Stock’s Big Run

Page 7 of 9 – SEC Filing

(b) Highland Capital and Strand may be deemed the beneficial owner of 6.5% of the outstanding Common Stock. This percentage was determined by dividing 13,906,755, the number of shares of Common Stock held directly by the
HCM Funds, by 214,723,789, which is the number of shares of Common Stock outstanding as of July 15, 2016 according to the Issuers Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on July 22, 2016.

Mr. Dondero may be deemed the beneficial owner of 11.0% of the outstanding Common Stock. This percentage was
determined by dividing 23,568,047, the number of shares of Common Stock held directly by the Funds and the Trust, by 214,723,789, which is the number of shares of Common Stock outstanding as of July 15, 2016 according to the Issuers
Quarterly Report on Form 10-Q filed with the Securities Exchange Commission on July 22, 2016.

(c) Highland Capital and Strand have the shared power to vote and dispose of the 13,906,755 shares of Common Stock held by the HCM Funds.

Mr. Dondero has the the shared power to vote and dispose of the 23,568,047 shares of Common Stock held by the Funds and the Trust.

Item 5 Ownership of Five Percent or Less of a Class.

Inapplicable.

Item 6 Ownership of More Than Five Percent on Behalf of Another Person.

Inapplicable.

Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Holding Company.

Inapplicable.

Item 8 Identification and Classification of Members of the Group.

Inapplicable.

Item 9 Notice of Dissolution of Group.

Inapplicable.

Item 10 Certification.

By signing below each of the Reporting Persons certifies that, to the
best of such persons knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction having that purpose or effect.

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