180 Degree Capital Corp. Reports +6.7% Growth in Q4 2020, $9.28 Net Asset Value per Share as of December 31, 2020, and Developments from Q1 2021 Including Expected Investment in a Planned SPAC Sponsor - Seite 2

“I would also like to note that we have recently reached agreement to invest $2.3 million in a newly-formed sponsor vehicle that plans to form a new special purpose acquisition company (“SPAC”),” added Mr. Rendino. “We have worked with the founding management team in a prior investment and will be excited to share the details as events unfold over the coming months. While this would be our first investment in a SPAC sponsor vehicle, it is not likely to be our last.”³

The table below summarizes 180’s performance over periods of time and provides an update for Q1 2021 as of February 19, 2021:

	Quarter		1 Year		3 Year		Inception to Date
	Q4 2020		Q4 2019- Q4 2020		Q4 2017- Q4 2020		Q4 2016- Q4 2020		Q1 2021 Thru 2/19/21
TURN Public Portfolio Gross Total Return (Excluding SMA Carried Interest)	5.3%		13.2%		128.3%		251.6%		24.0%1
TURN Public Portfolio Gross Total Return (Including SMA Carried Interest)	9.6%4		17.8%		137.6%		265.9%		24.0%1,4
Change in NAV	6.7%		1.1%		19.0%		32.2%		13.7%1
Change in Stock Price	17.5%		3.3%		12.7%		60.9%		6.5%
Change in Cash + Securities of Publicly Traded Companies	7.8%		16.6%		115.5%		200.0%		21.8%
Russell Microcap Index	31.4%		20.9%		28.8%		45.7%		27.1%
Russell Microcap Value Index	33.6%		8.1%		15.0%		28.8%		21.9%
Russell 2000	31.4%		19.9%		33.9%		53.5%		14.9%

Mr. Rendino and Daniel Wolfe, President, Chief Financial Officer and Portfolio Manager, will host a conference call tomorrow, Tuesday, February 23, 2021, at 9am Eastern Time, to discuss the results from Q4 2020 and the developments during Q1 2021. The call can be accessed by phone at [phone] passcode 415049 or via the web at https://www.freeconferencecall.com/wall/180degreecapital. Additionally, slides that will be referred to during the presentation can be found on 180’s investor relations website at https://ir.180degreecapital.com/ir-calendar.