13D Filing: JCP Investment Management, LLC and Fiesta Restaurant Group Inc. (FRGI)

(b)

1. Sole power to vote or direct vote: 600,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 600,000 4. Shared power to dispose or direct the disposition: 0

(c)

Lake Trail GP has not entered into any transactions in the Shares during the past 60 days.

S.

Mr. Purcell

(a)

Mr. Purcell, as the sole member of Lake Trail GP, may be deemed the beneficial owner of the 600,000 Shares owned by Lake Trail Fund.

Percentage: Approximately
2.22%

(b)

1. Sole power to vote or direct vote: 600,000 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 600,000 4. Shared power to dispose or direct the disposition: 0

(c)

Mr. Purcell has not entered into any transactions in the Shares during the past 60 days.

T.

Mr. Schechter:

(a)

As of the close of business on May 12, 2017, Mr. Schechter beneficially owned 19,400 Shares, including 1,700 Shares directly owned by his spouse.

Percentage: Less
than 1%

(b)

1. Sole power to vote or direct vote: 17,700 2. Shared power to vote or direct vote: 1,700 3. Sole power to dispose or direct the disposition: 17,700 4. Shared power to dispose or direct the disposition: 1,700

(c)

Mr. Schechter has not entered into any transactions in the Shares during the past 60 days.

U.

Mr. Morlock:

(a)

As of the close of business on May 12, 2017, Mr. Morlock did not beneficially own any Shares.

Percentage: 0%

(b)

1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 0 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 0

(c)

Mr. Morlock has not entered into any transactions in the Shares during the past 60 days.

An aggregate of 2,370,439
Shares, constituting approximately 8.8% of the Shares outstanding, are reported in this Schedule 13D.

The Reporting Persons,
as members of a “group” for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may
be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial
ownership of such Shares except to the extent of his or its pecuniary interest therein.