Beneficient Closes $7.44 Million GP Primary Capital Transaction

Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today announced it has closed on the financing of a $7.44 million primary capital commitment in Quartus AI Fund II LP (the “Fund”), a fund managed by Quartus Capital Partners LLC (“Quartus”), a New York based investment firm investing in growth stage AI and technology ventures (the “Transaction”). Quartus is led by AI pioneers, technologists, and seasoned operators. The Transaction reflects continued momentum for the Company’s GP Primary Commitment Program and further execution of its strategy to provide primary capital solutions to qualifying private investment funds, while marking Beneficient’s second GP primary capital transaction this year with an AI-focused fund managed by Quartus. As consideration for the Company’s interest in the Fund, the Fund received approximately $7.44 million in stated value of shares of the Company’s Resettable Convertible Preferred Stock (the “Preferred Stock”), which is convertible at the election of the holder into shares of the Company’s Class A common stock, subject to the terms and conditions of the Transaction documents. The Company’s commitment is structured to scale with the Fund’s total capital commitments, up to $26.25 million if the Fund achieves its target capital commitments of $150 million. The Transaction is expected to increase the collateral for the Company’s ExAlt loan portfolio by approximately $7.44 million of interests in alternative assets and add approximately $7.44 million of tangible book value attributable to the Company’s stockholders.