Lion Group Holding Plans to Use GPT-4o to Enhance Products and Services

HONG KONG,May 23,2024 -- Lion Group Holding Ltd. ("Lion" or "the Company") (NASDAQ: LGHL),the operator of an all-in-one trading platform that offers a wide spectrum of products and services,today announced its plan to utilize and explore cutting-edge AI technologies,including OpenAI's latest flagship model GPT-4o,to enhance the AI capabilities of Lion's core business products and services. By actively seizing the opportunities presented by AI,Lion aims to accelerate the construction of a development ecosystem based on finance,technology,and digitalization.

For a long time,Lion has been dedicated to empowering investors through technological innovation,providing higher quality products and services to users worldwide. Through in-house development and integration of market-leading AI technology models,Lion aims to significantly reduce operational costs and inefficiencies in technological capabilities and software applications,such as intelligent customer service,smart account opening,data retrieval,and advisory services. This will enhance the intelligent trading experience while offering significant pricing advantages for related products and services.

In addition,building a highly skilled and professional technical team is one of Lion's key development strategies. This team includes software development engineers,intelligent robot R&D engineers,algorithm engineers,AI operations engineers,and visual and interaction designers. Investing in and supporting human resources is also the key to Lion's deep AI tech-empowered core fintech business products and service delivery.

Mr. Chunning (Wilson) Wang,CEO of Lion,commented,"Technology is the key driver of Lion's advanced development and innovation. As one of the leading catalysts driving innovation in fintech services,Lion is committed to enhancing investment efficiency through technological breakthroughs,creating comprehensive and professional intelligent trading experiences for users. This helps bolster investors' confidence in the investment process and encourages more investors to actively participate in the capital markets. We believe that as AI intensifies,the deep utilization of pioneering technologies like ChatGPT could potentially become the next growth pillar,with the capability to enhance various aspects of Lion's operations,boost revenue,and improve profit margins. Meanwhile,benefiting from a diversified development strategy,Lion will continue to focus on building a robust and imaginative business ecosystem,providing customers with superior product experiences and services,and creating meaningful value growth for shareholders."

About Lion Group Holding Ltd.

Lion Group Holding Ltd. (Nasdaq:LGHL) operates an all-in-one,state-of-the-art trading platform that offers a wide spectrum of products and services,including (i) total return service (TRS) trading,(ii) contract-for-difference (CFD) trading,(iii) Hong Kong-based over-the-counter (OTC) stock options trading,and (iv) futures and securities brokerage. In addition,Lion owns a professional and experienced SPAC sponsorship team to become a leader in the SPAC arena,helping guide private companies through their listing journey. Additional information may be found athttp://ir.liongrouphl.com.

Forward-Looking Statements

This press release contains,"forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Lion's actual results may differ from their expectations,estimates and projections and consequently,you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "might" and "continues," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include,but are not limited to,statements about: Lion's goals and strategies; our ability to retain and increase the number of users,members and advertising customers,and expand its service offerings; Lion's future business development,financial condition and results of operations; expected changes in Lion's revenues,costs or expenditures; the impact of COVID-19; competition in the industry; relevant government policies and regulations relating to our industry; general economic and business conditions globally and in China; and assumptions underlying or related to any of the foregoing. Lion cautions that the foregoing list of factors is not exclusive. Lion cautions readers not to place undue reliance upon any forward-looking statements,which speak only as of the date made. Lion does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events,conditions or circumstances on which any such statement is based,subject to applicable law. Additional information concerning these and other factors that may impact our expectations and projections can be found in Lion's periodic filings with the SEC,including Lion's Annual Report on Form 20-F for the fiscal year ended December 31,2023. Lion's SEC filings are available publicly on the SEC's website at www.sec.gov.

Contacts

Lion Group Holding Ltd.

Tel: +852 2820 9011

Email:[email protected]

ICR,LLC

William Zima

Tel: +1 203 682 8233

Email:[email protected]

New York

Skyline Corporate Communications Group,LLC

Scott Powell,President

Tel: (646) 893-5835

Email: [email protected]