Beneficient is also a mission-driven company that is focused on helping the local communities it touches.
Beneficient customers have already designated more than $15 million of assets and cash in the aggregate to the Kansas Department of Commerce, the Kansas Economic Growth Trust and the Beneficient Heartland Foundation, each of which is dedicated
to rural economic development in Kansas. Beneficient continues to seek out opportunities to give back to the local communities in which it operates.
For
more information, visit www.trustben.com.
About Avalon Acquisition Inc.
Avalon Acquisition Inc. is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses. Avalon is led by Executive Chairman Don Putnam and Chief Executive Officer Craig Cognetti.
Additional Information and Where to Find It
In
connection with the proposed transaction, Beneficient will file with the Securities and Exchange Commission (the SEC) a registration statement on Form S-4 that will include a proxy statement of
Avalon and a prospectus of Beneficient, as well as other relevant documents concerning the proposed transaction. INVESTORS, SECURITY HOLDERS AND OTHER INTERESTED PERSONS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE PROXY STATEMENT/PROSPECTUS
REGARDING THE TRANSACTION WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. Avalon stockholders will be able
to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about Beneficient and Avalon, without charge, at the SECs website (http://www.sec.gov). Copies of the proxy statement/prospectus can also
be obtained, without charge, by directing a request to Avalon Acquisition Inc., 2 Embarcadero Center, 8th Floor, San Francisco, CA 94111.
Participants
in Solicitation
Avalon and its directors and executive officers may be deemed participants in the solicitation of proxies from Avalons
stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in Avalon is contained in Avalons final prospectus related to its initial public
offering dated October 5, 2021, which was filed with the SEC and is available free of charge at the SECs website at www.sec.gov. Additional information regarding the interests of such participants will be contained in the proxy
statement/prospectus for the proposed business combination when available.
Beneficient and its general partner, members of the board of directors of its
general partner and its executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of Avalon in connection with the proposed business combination. A list of the names of such directors, executive
officers and general partner and information regarding their interests in the proposed business combination will be included in the proxy statement/prospectus for the proposed business combination that will be filed on Form S-4 when available.
No Offer or Solicitation
This communication does not constitute (i) a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the
business combination or (ii) an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase, any securities of Beneficient, Avalon, the combined company or any of their respective affiliates. No offering of securities
shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom, nor shall any sale of securities in any states or jurisdictions in which such offer,
solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction be affected. No securities commission or securities regulatory authority in the United States or any other jurisdiction
has in any way passed upon the merits of the business combination or the accuracy or adequacy of this communication.
Forward-Looking Statements
Certain statements included in this communication that are not historical facts are forward-looking statements. Forward-looking statements generally
are accompanied by words such as believe, may, will, estimate, continue, anticipate, intend, expect, should, would,
plan, predict, potential, seem, seek, future, outlook, and similar expressions that predict or indicate future events or trends or that are not statements of