Beneficient — Director's Dealing 2023

Aug 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Beneficient (BENF)
CIK: 0001775734
Period of Report: 2023-08-01

Reporting Person: GWG Holdings, Inc. (10% Owner)
Reporting Person: GWG Life USA, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-08-01	Class A Common Stock, $0.001 par value	J	102530680	—	Disposed	0	Direct
2023-08-01	Class A Common Stock, $0.001 par value	J	67100832	—	Disposed	0	Indirect
2023-08-01	Class A Common Stock, $0.001 par value	J	119975	—	Disposed	0	Indirect

Footnotes

F1: On April 20, 2023, GWG Holdings, Inc. (the "Company") and certain of its subsidiaries (together with the Company, the "Debtors") filed a voluntary petition for reorganization under chapter 11 of title 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On June 20, 2023 the Court entered an order (the "Confirmation Order") confirming the Debtors' Further Modified Second Amended Joint Chapter 11 Plan (as subsequently further modified the "Plan"). On August 1, 2023 (the "Effective Date") the conditions to the effectiveness of the Plan were satisfied or waived.

F2: (Continued from footnote 1) On the Effective Date, pursuant to the terms of the Plan, all shares of Beneficient's Class A Common Stock owned by the Debtors were delivered to a liquidating trust or Mr. Jeffrey Stein, in each case as contemplated by the Plan. The sole purpose of the liquidating trust is to liquidate these assets with a view towards maximizing the value of such assets for the benefit of the beneficiaries of the liquidating trust. The Debtors received no cash proceeds or other property in exchange for the delivered shares.

F3: Shares were owned directly by GWG Life USA, LLC, which is a wholly owned subsidiary of GWG Holdings, Inc. As such, GWG Holdings, Inc. was an indirect beneficial owner of the reported securities.

F4: Shares were owned directly by GWG Life, LLC, which is a wholly owned subsidiary of GWG Holdings, Inc. As such, GWG Holdings, Inc. was an indirect beneficial owner of the reported securities.