GWG Holdings, Inc.
PORTFOLIO OF ASSETS

Consolidated Total Assets

$0 billion

as of June 30, 2020

Stockholders' Equity

$0 million

as of June 30, 2020

Investments

GWG Holdings, Inc. (Nasdaq: GWGH) directly and through its direct and indirect subsidiaries owns, manages and maintains a large, diverse alternative asset portfolio, consisting of: a) collateralized loans on professionally managed alternative asset funds, and b) life insurance policies issued by highly rated life insurance companies.

Diversification Strategy

Our investment strategy is designed to produce income and create value from investments in various other diversified alternative assets.

Exposure Type

as of June 30, 2020

gwgh_website_q22020_exposure_type

Income Generation

Near- and long-term income is generated through returns generated by the collateralized loan portfolio and company performance as well as life insurance policy benefits realized.

BENEFICIENT COLLATERAL ASSETS4

All data based on estimated portfolio company values as of June 30, 2020.

Funds

0

Investments

0

Company Status

0% of the portfolio consists of private companies

13% is in public companies

Industry Sectors

gwgh_website_q22020_Industry_sectors

Geography

gwgh_website_q22020_geography

Investment Strategy Type¹⁰

gwgh_website_q22020_Investment_strategy_type

Life Insurance Assets

Total Number of Policies

0

as of June 30, 2020

Insurance Policy Benefits

$0 billion

as of June 30, 2020

Top Five Life Insurance Carriers

as of June 30, 2020

Approximately 96.25% of policies owned by GWG Life are backed by investment-grade insurance carriers as rated by S&P.

Owned life insurance policies are not rated investments. This information is provided to demonstrate the current credit quality of the underlying insurance carriers backing the life insurance policy benefits owned by GWG Life.

John Hancock 14.53% AA- $284,942,472
Lincoln National 11.06% AA- $216,903,700
AXA Equitable 10.50% A+ $205,936,019
Transamerica 9.31% AA- $182,538,548
Metropolitan 8.07% AA- $158,239,621

Benefits by Age of Insureds

as of June 30, 2020

60-69

$0

70-74

$0

75-79

$0

80-84

$0

85-89

$0

90+

$0

Average Age of Insureds

83 Years Old

as of June 30, 2020

Ages 85+

45.03% of benefits:

$883 million

as of June 30, 2020

Important Information

An investment in L Bonds may be considered speculative and subject to a high degree of risk, including the risk of losing the entire investment.

Not an Offer to Sell Securities. The information provided herein does not constitute an offer to sell securities or the solicitation of an offer to buy securities. An offer to sell securities can only be made by a Prospectus, pursuant to a registration statement, and any amendments thereto, then effective and on file with the Securities and Exchange Commission (“SEC”). Investors must read the entire Prospectus for investment conditions, risk factors, minimum requirements, fees and expenses and other pertinent information with respect to the L Bonds in order to obtain the information essential to making an informed investment decision. No dealer, broker, salesperson, or other person has been authorized by GWGH to give any information or to make any representation other than as contained in the Prospectus, and, if given or made, such other information or representations must not be relied upon as having been authorized by GWGH. No statement found herein is incorporated by reference into the Prospectus, and no statement herein constitutes any part of the Prospectus.

Investment Decisions. This information is not intended to replace any information or consultation provided by a financial advisor or other professional. We have filed a registration statement (including prospectus) with the SEC for the offering to which this material relates. Before you invest, you should read the prospectus in the registration statement (including the risk factors described therein) and other documents we have filed with the SEC for more complete information about us and the offering. You may get these documents for free by visiting EDGAR on the SEC website at http://www.sec.gov/. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-494-2388.

The estimates, targets and forward-looking statements contained herein may or may not be realized, and differences between estimated results and those realized may be material. Such estimates, projections and forwardlooking statements are illustrative purposes only. Accordingly, there can be no assurance that the estimates, projections or forward-looking statements contained herein will be realized or are accurate and complete. Information is subject to change without notice and may not be updated. GWGH is under no obligation to update any information included herein. The information and expressions of opinions are subject to change without notice and speak only as of the respective dates in which they are made. Securities are being offered on a best-efforts basis on behalf of GWGH by Emerson Equity, LLC, Member FINRA, SIPC, Managing Broker-Dealer for the Issuer. GWGH, Ben and Emerson are not affiliated entities.

Footnotes and Assumptions

  1. The underlying exposure data represents GWG’s exposure to life insurance policies included in its portfolio and GWG’s exposure to the underlying collateral of Ben’s loan portfolio. Exposure type reflects classifications based on each company’s portfolio as determined by Ben. "Other Strategy Types” include private debt strategies, natural resources strategies, and hedge funds. Figures based on third-party information and other relevant information as determined by Ben.
  2. As percentage of total policy benefits.
  3. Standard and Poor’s (S&P) Ratings indicate credit worthiness of an insurance carrier. The ratings range from AAA (highest) to D (lowest). “Other” refers to ratings below A-, which represent lower quality rated insurance carriers in the portfolio. The ratings’ distribution is the percentage of total policy benefits for each of the insurance carriers represented in the life insurance portfolio.
  4. This webpage contains data concerning interests in alternative assets. The cash flow from these interests underline the senior beneficial interests and beneficial interests that comprise the collateral of Ben’s loan portfolio. The data presented herein is derived from, among other things, third-party information regarding the net asset value (NAV) of these alternative assets and investments within these alternative assets. Generally, Ben leverages the most recently-received NAV report from each investment manager, which can be adjusted for certain cash and non-cash items including capital calls, distributions, updated material events, and currency valuation adjustments. Ben is not affiliated with, and has no control over, any portfolio investment manager, including with respect to the timing, accuracy and completeness of their reporting of financial and other data. All amounts are converted to U.S. dollars at the relevant exchange rate as of June 30, 2020. All assets that are public equities that are traded on public exchanges are updated with their corresponding closing price as of June 30, 2020. All collateral portfolio data is presented as of June 30, 2020, subject to the disclosures below. The collateral portfolio may have changed since June 30, 2020, and display on this webpage does not imply otherwise.
  5. Includes limited partnership interests in funds held directly in the collateral portfolio and funds held indirectly in the collateral portfolio through other entities, including special purpose vehicles and other funds.
  6. Investments reflect the assets listed by the general partner of a fund as held by the fund and have a positive or negative net asset value. Typical assets include portfolio companies, limited partnership interests in other funds, and net other assets, which are a fund’s cash and other current assets minus liabilities.
  7. 4% of the 96% classified as “Private” are limited partnership interests in other funds where further detail on the underlying holdings of these funds is not available.
  8. Industry sector based on GICS® Level 2 classification of companies held in the collateral portfolio by funds or directly, subject to certain adjustments by Ben management. “Other” classification is not a GICS® classification. “Other” classification reflects (i) companies in the GICS classifications categories of Automobiles & Components, Banks, Capital Goods, Commercial & Professional Services, Consumer Durables & Apparel, Consumer Services, Energy, Food, Beverage & Tobacco, Household & Personal Products, Insurance, Materials, Media & Entertainment, Real Estate, Retailing, Semiconductors & Semiconductors Equipment, Tech Hardware & Equipment, Transportation and Utilities, and (ii) other investments assets that Ben management has determined do not have an applicable GICS Level 2 classification, such as Net Other Assets and investments that are not operating companies.
  9. Geography reflects classifications determined by Ben management, based on each underlying investment. “Other” geography classification includes Israel, Australia, Eastern Europe, and N/A.
  10. Investment Strategy Type reflects classifications based on each company’s current investment strategy stage as determined by Ben management. “Other Strategy Types” include private debt strategies, natural resources strategies, and hedge funds