BENFW · Beneficient · Insider Trading

Includes 25,689 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 25,689 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Karen Wendel (the "Reporting Person") on September 30, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 32,960 shares of Class A common stock issuable upon the settlement of an award of 32,960 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 25,914 shares of Class A common stock issuable upon the settlement of an award of 25,914 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on November 21, 2024. Such award of RSUs to the Reporting Person vested in four equal installments on the last day of each calendar quarter over a one-year period from the date of grant.

Includes 44,016 shares of Class A common stock issuable upon the settlement of an award of 44,016 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from November 22, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 23,300 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 23,300 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Bruce W. Schnitzer (the "Reporting Person") on September 30, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 176,887 shares of Class A common stock issuable upon the settlement of an award of 176,887 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 29,894 shares of Class A common stock issuable upon the settlement of an award of 29,894 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 188,679 shares of Class A common stock issuable upon the settlement of an award of 188,679 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 116,479 shares of Class A common stock issuable upon the settlement of an award of 116,479 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on December 26, 2025. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2023 through December 31, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 20,910 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 20,910 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Mack Hicks (the "Reporting Person") on September 30, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 26,828 shares of Class A common stock issuable upon the settlement of an award of 26,828 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 25,689 shares of Class A common stock, par value $0.001 ( "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 25,689 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Peter T. Cangany, Jr. (the "Reporting Person") on September 30, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 32,960 shares of Class A common stock issuable upon the settlement of an award of 32,960 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 97 shares of Class A common stock issuable upon the settlement of an award of 78 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on April 25, 2019. Such award of REUs to the Reporting Person vested 25% on the date of grant and in 25% installments on April 1, 2020, 2021 and 2022.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 18 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023 and in 20% installments on April 1, 2024, 2025 and 2026.

Includes 247,642 shares of Class A common stock issuable upon the settlement of an award of 247,642 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 79,461 shares of Class A common stock issuable upon the settlement of an award of 79,461 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on December 26, 2025. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2023 through December 31, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 29,894 shares of Class A common stock issuable upon the settlement of an award of 29,894 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 44,016 shares of Class A common stock issuable upon settlement of an award of 44,016 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from November 22, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 25,914 shares of Class A common stock issuable upon the settlement of an award of 25,914 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on November 21, 2024. Such award of RSUs to the Reporting Person vested in four equal installments on the last day of each calendar quarter over a one-year period from the date of grant.

Includes 32,960 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 32,960 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Karen Wendel (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 25,914 shares of Class A common stock issuable upon the settlement of an award of 25,914 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on November 21, 2024. Such award of RSUs to the Reporting Person vested in four equal installments on the last day of each calendar quarter over a one-year period from the date of grant.

Includes 188,679 shares of Class A common stock issuable upon settlement of an award of 188,679 RSUs granted to the Reporting Person on September 18, 2026 pursuant to the 2023 Equity Incentive Plan. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 26,828 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 26,828 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Mack Hicks (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 176,887 shares of Class A common stock, par value $0.001 ("Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 176,887 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Bruce W. Schnitzer (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 224 shares of Class A common stock issuable upon the settlement of an award of 14,375 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 11, 2018. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 1,500 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 247,642 shares of Class A common stock issuable upon the settlement of an award of 247,642 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on September 18, 2026. The RSUs were granted in satisfaction of the Reporting Person's prior service compensation for the period from January 1, 2025 through March 31, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 97 shares of Class A common stock issuable upon the settlement of an award of 78 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on April 25, 2019. Such award of REUs to the Reporting Person vested 25% on the date of grant and in 25% installments on April 1, 2020, 2021 and 2022.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 18 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023 and in 20% installments on April 1, 2024, 2025 and 2026.

Includes 32,960 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 32,960 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Peter T. Cangany, Jr. (the "Reporting Person") on September 18, 2026. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 80 shares of Class A common stock issuable upon the settlement of an award of 80 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 97 shares of Class A common stock issuable upon the settlement of an award of 78 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on April 25, 2019. Such award of REUs to the Reporting Person vested 25% on the date of grant and in 25% installments on April 1, 2020, 2021 and 2022.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 18 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023 and in 20% installments on April 1, 2024, 2025 and 2026.

Includes 109 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), issuable upon the settlement of an award of 87 restricted equity units ("REUs") granted to James G. Silk (the "Reporting Person") pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan (the "2018 Equity Incentive Plan") on January 6, 2020. Such award of REUs to the Reporting Person vested 20% on January 6, 2020 and in 20% installments on January 6, 2021, 2022, 2023 and 2024.

Includes 35 shares of Class A common stock issuable upon the settlement of an award of 28 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the reporting person vested 40% on June 8, 2023 and in 20% installments on April 1, 2024, 2025 and 2026.

Includes 150 shares of Class A common stock issuable upon the settlement of an award of 150 restricted stock units ("RSUs") granted pursuant to Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 120 shares of Class A common stock issuable upon the settlement of an award of 120 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 100% on September 1, 2023.

Includes 80 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 80 restricted stock units ("RSUs") granted pursuant to Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Peter T. Cangany, Jr. (the "Reporting Person") on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on each of September 1, 2023, 2024, 2025, 2026, and the remaining 20% will vest on September 1, 2027.

Includes 97 shares of Class A common stock issuable upon the settlement of an award of 78 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on April 25, 2019. Such award of REUs to the Reporting Person vested 25% on the date of grant and in 25% installments on April 1, 2020, 2021 and 2022.

Includes 23 shares of Class A common stock issuable upon settlement of an award of 18 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023 and in 20% installments on April 1, 2024, 2025 and 2026.

Includes 390 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), issuable upon the settlement of an award of 312 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to Derek L. Fletcher (the "Reporting Person") on January 1, 2020. Such award of REUs to the Reporting Person vested 40% on the date of grant and in 20% installments on each of July 16, 2021, 2022 and 2023.

Includes 26 shares of Class A common stock issuable upon settlement of an award of 21 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023 and in 20% installments on each of April 1, 2024, 2025 and 2026.

Includes 113 shares of Class A common stock issuable upon the settlement of an award of 113 restricted stock units ("RSUs") granted pursuant to Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested in 20% installments on each of September 1, 2023, 2024, 2025, 2026. The remaining 20% will vest on September 1, 2027.

Includes 90 shares of Class A common stock issuable upon the settlement of an award of 90 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Represents shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 931,837 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to Bruce W. Schnitzer (the "Reporting Person") on December 5, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 643 shares of Class A common stock issuable upon the settlement of an award of 51,440 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 1,797 shares of Class A common stock issuable upon the settlement of an award of 115,000 restricted equity units ("REUs") granted the Reporting Person pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") on January 11, 2018. 100,000 REUs vested on the date of grant, and 15,000 REUs vested 25% on the date of grant, and the remaining 75% in three equal annual installments on April 25th of each subsequent calendar year.

Includes 188 shares of Class A common stock issuable upon settlement of an award of 12,000 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Represents shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 635,690 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to Peter T. Cangany, Jr. (the "Reporting Person") on December 5, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 643 shares of Class A common stock issuable upon the settlement of an award of 643 RSUs granted pursuant to the Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 782 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 625 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on April 25, 2019. Such award of REUs to the Reporting Person vested 25% on the date of grant, and the remaining 25% vested in three equal annual installments on April 1st of each subsequent calendar year.

Includes 188 shares of Class A common stock issuable upon settlement of an award of 150 REUs granted to the Reporting Person pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person vested 40% on June 8, 2023, and the remaining 60% vest in three equal annual installments on April 1st of each subsequent calendar year.

Pursuant to the Ninth Amended and Restated Limited Partnership Agreement (as amended, the "BCH Ninth A&R LPA") of Beneficient Company Holdings, L.P., a Delaware limited partnership ("BCH"), the Exchange Agreement (the "Exchange Agreement"), dated June 7, 2023, by and among Beneficient (the "Issuer"), BCH, and Beneficient Company Group, L.L.C., a Delaware limited liability company ("Ben LLC"), and that conversion notice (the "Conversion Notice") dated October 1, 2025, the reporting person converted $4,577,326 of the capital account balance of the Preferred Series A Subclass 1 Unit Accounts of BCH ("BCH Preferred A-1 Unit Accounts") into Class S Ordinary Units of BCH ("BCH Class S Ordinary Units") at a price of $4.16 per BCH Class S Ordinary Unit based on the average closing price of the shares of Class A Common Stock, par value $0.001 per share (the "Class A Shares"), on The Nasdaq Capital Market for the thirty (30) days preceding October 14, 2025.

The shares and prices shown have been retroactively adjusted to reflect the Issuer's reverse stock split of its outstanding Class A Shares on a 1-for-8 basis effected on December 15, 2025. The reporting person's ownership of the BCH Preferred A-1 Unit Accounts has previously been reported as a derivative security, the exercise of which was subject to a sixty-one (61) day notice period. However, pursuant to the Conversion Notice and limited conversion thereunder, the minimum fixed conversion price and prior notice was waived with respect to this transaction, and the conversion price was based upon the thirty (30) day average closing price. Accordingly, the conversion is reported under Code J.

The reporting person converted $4,577,326 of the capital account balance of the BCH Preferred A-1 Unit Accounts into BCH Class S Ordinary Units.

Pursuant to the Ninth Amended and Restated Limited Partnership Agreement (as amended, the "BCH Ninth A&R LPA") of Beneficient Company Holdings, L.P., a Delaware limited partnership ("BCH"), the Exchange Agreement (the "Exchange Agreement"), dated June 7, 2023, by and among Beneficient (the "Issuer"), BCH, and Beneficient Company Group, L.L.C., a Delaware limited liability company ("Ben LLC"), and that conversion notice (the "Conversion Notice") dated October 1, 2025, the reporting person converted $4,577,326 of the capital account balance of the Preferred Series A Subclass 1 Unit Accounts of BCH ("BCH Preferred A-1 Unit Accounts") into Class S Ordinary Units of BCH ("BCH Class S Ordinary Units") at a price of $4.16 per BCH Class S Ordinary Unit based on the average closing price of the shares of Class A Common Stock, par value $0.001 per share (the "Class A Shares"), on The Nasdaq Capital Market for the thirty (30) days preceding October 14, 2025.

The shares and prices shown have been retroactively adjusted to reflect the Issuer's reverse stock split of its outstanding Class A Shares on a 1-for-8 basis effected on December 15, 2025. The reporting person's ownership of the BCH Preferred A-1 Unit Accounts has previously been reported as a derivative security, the exercise of which was subject to a sixty-one (61) day notice period. However, pursuant to the Conversion Notice and limited conversion thereunder, the minimum fixed conversion price and prior notice was waived with respect to this transaction, and the conversion price was based upon the thirty (30) day average closing price. Accordingly, the conversion is reported under Code J.

Pursuant to the BCH Ninth A&R LPA, the Exchange Agreement and the Conversion Notice, the BCH Class S Ordinary Units received by the reporting person were contemporaneously exchanged for Class A Shares on a one-for-one basis.

Pursuant to the BCH Ninth A&R LPA, the Exchange Agreement and the Conversion Notice, the BCH Class S Ordinary Units received by the reporting person were contemporaneously exchanged for Class A Shares on a one-for-one basis.

Includes 109 Class A Shares issuable upon the settlement of an award of 87 restricted equity units ("REUs") granted to the reporting person pursuant to the Beneficient Company Group, L.P. 2018 Equity Incentive Plan on January 6, 2020. Such award of REUs to the reporting person vested 20% on January 6, 2020 and in 20% installments on January 6th of each subsequent calendar year.

Includes 35 Class A Shares issuable upon the settlement of an award of 28 REUs granted to the reporting person pursuant to the Beneficient Company Group, L.P. 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the reporting person vested 40% on June 8, 2023 and in 20% installments on each of April 1, 2024 and April 1, 2025. The remaining 20% vested on April 1, 2026.

Includes 150 Class A Shares issuable upon the settlement of an award of 150 restricted stock units ("RSUs") granted pursuant to Beneficient 2023 Equity Incentive Plan to the reporting person on July 15, 2023. Such award of RSUs to the reporting person vested in 20% installments on each of September 1, 2023, September 1, 2024 and September 1, 2025. The remaining 40% shall vest in two equal annual installments on September 1st of each subsequent calendar year.

Includes 120 Class A Shares issuable upon the settlement of an award of 120 restricted stock units ("RSUs") granted pursuant to Beneficient 2023 Equity Incentive Plan to the reporting person on July 15, 2023. Such award of RSUs to the reporting person vested 100% on September 1, 2023.

Includes 30,687 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 30,687 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan (the "2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on July 21, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 61,592 shares of Class A common stock issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 1,670 restricted stock units ("RSUs") granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on April 24, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 61,592 shares of Class A common stock issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 1,670 shares of Class A common stock issuable upon the settlement of an award of 1,670 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on January 16, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 61,592 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 61,592 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on January 14, 2025. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 58,249 shares of Class A common stock issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 58,249 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units ("RSUs").

Includes 58,249 shares of Class A common stock, par value $0.001 per share (the "Class A common stock"), of Beneficient (the "Issuer") issuable upon the settlement of an award of 58,249 RSUs granted pursuant to the Beneficient 2023 Equity Incentive Plan ("2023 Equity Incentive Plan") to Jeff Welday (the "Reporting Person") on October 17, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 98,919 shares of Class A common stock issuable upon the settlement of an award of 98,919 RSUs granted pursuant to the 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.

Includes 354 shares of Class A common stock issuable upon the settlement of an award of 28,320 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person vested 20% on September 1, 2023, and the remaining 80% in four equal annual installments on September 1st of each subsequent calendar year.

Includes 2,196 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 140,490 restricted equity units ("REUs") granted pursuant to The Beneficient Company Group, L.P. 2018 Equity Incentive Plan ("2018 Equity Incentive Plan") to the Reporting Person on January 1, 2020. Such award of REUs to the Reporting Person vested 20% on the date of grant, and the remaining 80% in four equal annual installments on June 3rd of each subsequent calendar year.

Includes 113 shares of Class A common stock issuable upon settlement of an award of 7,200 REUs to the Reporting Person granted pursuant to the 2018 Equity Incentive Plan on April 1, 2022. Such award of REUs to the Reporting Person shall vest 40% on June 8, 2023, and the remaining 60% in three equal annual installments on April 1st of each subsequent calendar year.

Includes 257 shares of Class A common stock of the Issuer issuable upon the settlement of an award of 20,560 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on July 15, 2023. Such award of RSUs to the Reporting Person fully vested on September 1, 2023.

Includes 998 shares of Class A common stock issuable upon the settlement of an award of 998 RSUs granted pursuant to 2023 Equity Incentive Plan to the Reporting Person on August 22, 2024. Such award of RSUs to the Reporting Person fully vested on the date of grant.