Midwest Holding Announces Inclusion of the Goldman Sachs Xenith Index to its Fixed Index Annuity Policy Holders

In the news release, Midwest Holding Announces Inclusion of the Goldman Sachs Xenith Index to its Fixed Index Annuity Policy Holders, issued 12-Jan-2022 by Midwest Holding Inc. over PR Newswire, we are advised by the company that the headline should read "American Life Announces..." rather than "Midwest Holding Announces..." as originally issued inadvertently. The complete, corrected release follows:

LINCOLN, Neb., Jan. 12, 2022 /PRNewswire/ -- Midwest Holding Inc. (NASDAQ: MDWT), a technology-enabled, services-oriented annuity platform, announced today that its subsidiary American Life & Security (ALSC) will begin offering exclusively to American Life's Fixed Index Annuity policy holders the Goldman Sachs Xenith Index.

The Goldman Sachs Xenith Index is a multi-asset strategy that uses the anticipated macro regime, as identified by a leading economic indicator, to make asset allocations. By using a leading economic indicator, the Goldman Sachs Xenith Index differs from indices that rely on a backward-looking methodology alone. Instead of relying purely on the S&P 500 Index for exposure to U.S. equities, the index employs an intraday overlay that can reduce equity exposure based on intra-day trading "signals". As a result, the strategy incorporates real-time market movements, in addition to other factors, in its rules-based methodology.

Depending on the prevailing market regime, the Goldman Sachs Xenith Index also provides commodity exposure by switching between copper and gold based on anticipated economic growth. In addition, regardless of the economic regime, the Goldman Sachs Xenith Index provides constant exposure to a long-short strategy taking positions on different points of the commodity curve in an attempt to capture performance that may be less correlated to other asset classes.

"The Goldman Sachs Xenith Index is quite meaningful to Midwest Holding and American Life as we are one of just a few select insurance providers offering this type of index. We are glad to be positioned front and center, as we collectively bring a new opportunity with strong potential to our investors," said Midwest Holding President and Chief Investment Officer Mike Minnich.

"Goldman Sachs is pleased to license the Goldman Sachs Xenith Index to American Life & Security. This is our first index licensing engagement with American Life and we are excited about working with their team" said Pratik Pareek, Head of Insurance Equity Derivative Sales at Goldman Sachs.

About Midwest Holding Inc.

Midwest Holding Inc. is a technology-enabled, services-oriented annuity platform. Midwest designs and develops in-demand life and annuity products that are distributed through independent distribution channels, to a large and growing demographic of U.S. retirees. Midwest originates, manages and transfers these annuities through reinsurance arrangements to asset managers and other third-party investors, who are actively seeking these financially attractive products. Midwest also provides the operational and regulatory infrastructure and expertise to enable asset managers and third-party investors to form, capitalize and manage their own reinsurance capital vehicles.

About American Life & Security Corp.

American Life & Security Corp. is a wholly owned subsidiary of Midwest Holding Inc. In 2018, the company was recapitalized and reimagined by a team of seasoned insurance, technology and investment experts with a new purpose - build a platform on modern technology with simplicity, transparency and cost efficiency to remedy inefficiencies in the life and annuity industry. For more information, please visit www.american-life.com

SPECIAL CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain statements contained in this release constitute forward-looking statements. These statements are based on management's expectations, estimates, projections, and assumptions. In some cases, you can identify forward-looking statements by terminology including "could," "may," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential," "intend," or "continue," the negative of these terms, or other comparable terminology used in connection with any discussion of future operating results or financial performance. These statements are only predictions and reflect our management's good faith present expectation of future events and are subject to a number of important factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause our actual results to differ materially from those contemplated in such forward-looking statements include among others, the following:

• our business plan, particularly including our reinsurance strategy, may not prove to be successful;
• our reliance on third-party insurance marketing organizations to market and sell our annuity insurance products through a network of independent agents;
• failure to maintain adequate reinsurance;
• our inability to expand our insurance operations outside the 22 states and District of Columbia in which we are currently licensed;
• our annuity products may not achieve significant market acceptance;
• failure to obtain new customers, retain existing customers, or reductions in policies in force by existing customers; and
• higher service, administrative, or general expense due to the implementation of our business plan.

Readers are cautioned against placing undue reliance on any such forward-looking statements. For details on factors that could affect these expectations, see also the risk factors and other cautionary language included in Midwest's filings with the SEC, which can be obtained online at the website of the U.S. Securities and Exchange Commission at https://www.sec.gov or on Midwest's website at https://www.midwestholding.com. Except as required by law, Midwest does not undertake to update forward-looking statements contained in this release.

For more information, please visit www.midwestholding.com

Investor contact: ir@midwestholding.com
Media inquiries: press@midwestholding.com

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SOURCE Midwest Holding Inc.