Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Warrant (right to purchase)^F1	$0.08	Dec 27, 2016	P	1,104,911	A	Dec 27, 2016	Dec 27, 2019	Common Stock	1,104,911	1,104,911	D
Warrant (right to purchase)^F2,F3	$0.08	Dec 27, 2016	P	2,332,589	A	Dec 27, 2016	Dec 27, 2019	Common Stock	2,332,589	2,332,589	I

Explanation of responses

F1Wynnefield Capital Management, LLC, as the sole general partner of the Reporting Person, has an indirect beneficial ownership interest in the 1,104,911 warrants to purchase shares of common stock, $0.0001 par value per share (the "Warrant Shares") of GlyEco, Inc. (the "Issuer") that the Reporting Person directly beneficially owns. Nelson Obus and Joshua Landes, as co-managing members of Wynnefield Capital Management, LLC, have an indirect beneficial ownership interest in the Warrant Shares that the Reporting Person directly beneficially owns.
F2The Reporting Person has an indirect beneficial ownership interest in the 1,718,750 Warrant Shares which are directly beneficially owned by Wynnefield Partners Small Cap Value, L.P.I, as members of a group under Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Wynnefield Partners Small Cap Value, L.P. I, which maintains offices at the same address as the Reporting Person, is filing this statement jointly with the Reporting Person. Wynnefield Capital Management, LLC, as the sole general partner of Wynnefield Partners Small Cap Value, L.P. I, has an indirect beneficial ownership interest in the Warrant Shares that Wynnefield Partners Small Cap Value L.P. I directly beneficially owns. Nelson Obus and Joshua Landes, as co-managing members of Wynnefield Capital Management, LLC, have an indirect beneficial ownership interest in the Warrant Shares that Wynnefield Partners Small Cap Value, L.P.I directly beneficially owns.
F3The Reporting Person has an indirect beneficial ownership interest in 613,839 Warrant Shares which are directly beneficially owned by Wynnefield Small Cap Value Offshore Fund, Ltd., as members of a group under Section 13(d) of the Exchange Act. Wynnefield Small Cap Value Offshore Fund, Ltd., which maintains offices at the same address as the Reporting Person, is filing this statement jointly with the Reporting Person. Wynnefield Capital, Inc. as the sole investment manager of Wynnefield Small Cap Value Offshore Fund, Ltd., has an indirect beneficial ownership interest in the Warrant Shares that Wynnefield Small Cap Value Offshore Fund, Ltd. directly beneficially owns. Nelson Obus and Joshua Landes, as principal executive officers of Wynnefield Capital, Inc., have an indirect beneficial ownership interest in the Warrant Shares that Wynnefield Small Cap Value Offshore Fund, Ltd. directly beneficially owns.

Remarks

Each of the Reporting Owners identified in this statement disclaims beneficial ownership of the securities described in this statement, except to the extent of their individual respective pecuniary interest in such securities. The filing of this statement shall not be deemed an admission that any of the Reporting Owners identified in this statement are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any securities specified in this statement other than those directly beneficially owned by them.