Lutnick Brandon bought BGC

Footnotes

On October 6, 2025, in a transaction effective concurrently with the transaction described in footnote (1), the reporting person, through trusts for which he is trustee with decision making control, closed the purchase of all of the outstanding equity interests in KBCR Management Partners, LLC ("KBCR") and Tangible Benefits, LLC ("Tangible Benefits"), from Howard W. Lutnick, in Howard W. Lutnick's capacity as trustee of certain trusts. The reporting person had previously reported beneficial ownership of the 2,335,967 shares of Class B Common Stock and the 600,938 shares of Class A Common Stock, par value $0.01 per share ("Class A Common Stock") of the Company held by KBCR, and the 1,610,182 shares of Class B Common Stock held by Tangible Benefits because of the reporting person's position as the manager of each of these entities. The aggregate purchase price of the equity interests of KBCR and Tangible Benefits was $13,096,795.70.; The reporting person also has indirect beneficial ownership of 173,035 shares of Class B Common Stock held by LFA, LLC ("LFA").; The shares of Class B Common Stock are convertible at any time on a one-for-one basis (subject to adjustment) into shares of Class A Common Stock.; CFGM is the Managing General Partner of CFLP and KBCR is a non-managing General Partner of CFLP. Securities held by CFGM and CFLP are included on this report because the reporting person is the Chairman and Chief Executive Officer and also the trustee with decision making control of trusts that hold all of the voting shares of CFGM. Securities held by KBCR, Tangible Benefits, and LFA are included on this report because of the reporting person's position as the manager of each entity and through the reporting person's control of KBCR and Tangible Benefits as trustee with decision making control of trusts which hold all of the issued and outstanding equity interests of KBCR and Tangible Benefits.; (Continued from Footnote 7) Securities held by the trusts described in this report are included on this report because (i) the beneficiaries of such trusts include the reporting person and/or members of his immediate family, and (ii) of the reporting person's position as trustee with decision making control. The reporting person disclaims beneficial ownership of all securities held by CFGM, CFLP, KBCR, Tangible Benefits, and LFA in excess of his pecuniary interest, if any, and this report shall not be deemed an admission that he is the beneficial owner of, or has pecuniary interest in, any such excess securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.