On August 5, 2022, Bradley G. Garner resigned as Principal Financial and Accounting Officer; Secretary of HG Holdings, Inc. (the “Company”). Mr. Garner will be focusing his efforts on his role as the Chief Financial Officer at Hale Partnership Capital Management, LLC and board member at National Consumer Title Insurance Company (“NCTIC”), Monarch National Insurance Company, and HC Government Realty Trust Inc. Mr. Garner's resignation was not due to any disagreement with the Company relating to the Company's operations, policies or practices. In connection with Mr. Garner's resignation, the board of directors of the Company (the “Board”) has elected Justin H. Edenfield to serve as Principal Financial and Accounting Officer; Secretary of the Company effective as of August 5, 2022.

Mr. Edenfield, age 42, has no family relationships with any other director or executive officer of the Company and has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. There are no arrangements or understandings between Mr. Edenfield and any other person pursuant to which he was appointed to serve as an officer of the Company. The compensation arrangements for Mr. Edenfield's new position have not yet been determined. Mr. Edenfield has served as Chief Financial Officer of HG Managing Agency, LLC (“HGMA”), a managing service company, since 2021 and Omega National Title Agency, LLC (“Omega”), a title & escrow agency, since February 2017.

He has also served as Director, Treasurer and Chief Financial Officer of NCTIC, an insurance company, since February 2017. HGMA, Omega and NCTIC all became wholly-owned subsidiaries of the Company in 2021. He has also served as Treasurer and Chief Financial Officer of Capital Preferred Insurance Company, Inc., CPIC Holding Company, LLC, SFPC Holding Company, LLC, all insurance companies, since February 2017.

He served as Director, Treasurer and Chief Financial Officer of Southern Fidelity Insurance Company, Inc. and affiliates, all insurance companies, from February 2017 through October 2021, and of Preferred Managing Agency, Inc., also an insurance company, from May 2016 through October 2021.