Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Research Coverage on Small and Micro-Cap Companies

Equity Bottom-Up

<ul><li>Key F4Q25 takeaways include: 1) On 6/19/25, Brad Heppner resigned as CEO and Chairman of the company's Board of Directors.</li><li>Given Mr. Heppner's history founding the company and prior role as CEO, his departure introduces uncertainty as it relates to Beneficient's business strategy, growth prospects, and ownership structure.</li><li>2) Following Mr. Heppner's resignation, the Board announced the separation of the Chairman and CEO roles, with the appointment of Thomas Hicks as Chairman and James Silk as interim CEO.</li></ul>

Key F4Q25 takeaways include: 1) On 6/19/25, Brad Heppner resigned as CEO and Chairman of the company's Board of Directors.Given Mr. Heppner's history founding the company and prior role as CEO, his departure introduces uncertainty as it relates to Beneficient's business strategy, growth prospects, and ownership structure.2) Following Mr. Heppner's resignation, the Board announced the separation of the Chairman and CEO roles, with the appointment of Thomas Hicks as Chairman and James Silk as interim CEO.

BENF: CEO Transition Adds Uncertainty (and Opportunity)