GWG Holdings, Inc. (the “Company”) announced that it has taken steps to prepare for the issuance of a conditional trust banking charter (the “Charter”) to The Beneficient Company Group, L.P. (“Ben”) by the Kansas Office of the State Bank Commissioner (“OSBC”) under the recently enacted Kansas Technology-Enabled Fiduciary Financial Institutions Act (“TEFFI Act”). The Company expects that the TEFFI Act will be a significant benefit to the value of the Company’s investment in Ben, as it will provide Ben the necessary regulatory framework to achieve its long-term objective of providing liquidity and other services to holders of alternative asset through a Kansas regulated technology-enabled fiduciary financial institution (“TEFFI”) trust bank. The TEFFI Act directs the OSBC to issue the Charter to Ben on July 1, 2021, as part of the establishment of a fiduciary financial institution pilot program. Ben is in the process of creating a new subsidiary (“Ben TEFFI”) to serve as the chartered TEFFI trust bank. Ben has also agreed to fund the pilot program and assist the OSBC in promulgating rules, regulations, and standards ahead of wider adoption. The Company expects that the directors of the Ben TEFFI trust bank will expend significant efforts assisting the OSBC with the promulgation of rules, regulations, and standards as part of the pilot program.