TURN 180 Degree Capital Corporation

180 Degree Capital Corp. (“180 Degree Capital”) (NASDAQ: TURN), noted today that the average discount between its estimated daily net asset value per share (“NAV”) and its daily closing stock price during May 2024 and year-to-date through the end of May 2024, were approximately 18% and 20%, respectively.1 This discount was approximately 19% on May 31, 2024.

As previously disclosed in a press release on November 13, 2023, 180 Degree Capital’s Board of Directors has set two measurement periods of 1) January 1, 2024 to December 31, 2024, and 2) January 1, 2025 to June 30, 2025, in which it will evaluate the average discount between TURN’s estimated daily NAV and its closing stock price pursuant to a Discount Management Program. Should TURN’s common stock trade at an average daily discount to NAV of more than 12% during either of these measurement periods, 180 Degree Capital’s Board will consider all available options at the end of each measurement period including, but not limited to, a significant expansion of 180 Degree Capital’s current stock buyback program of up to $5 million, cash distributions reflecting a return of capital to shareholders, or a tender offer.

“May 2024 was an overall improvement from April 2024 for both microcapitalization stocks and 180 Degree Capital’s holdings,” said Kevin M. Rendino, Chief Executive Officer of 180 Degree Capital. “This improvement was coupled with heightened volatility, particularly for many of our portfolio holdings that are relatively thinly traded. For example, Synchronoss Technologies, Inc. (SNCR) reported a positive Q1 2024 that beat all analyst estimates across the board. Here are the daily percent changes in SNCR’s stock price over the three weeks post its earnings report on May 9, 2024: +31.0%, +1.8%, -13.0%, +6.41%, +2.6%, +16.23%, +5.0%, -7.1%, +8.0%, -0.9%, 0%, -5.9%, -5.2%, -5.6%, +0.5%. Aside from the +31.0% on the day following its Q1 2024 report, there was no news from SNCR that could be attributed as the cause for stock price movements of greater than 5% during 10 of the 15 trading days listed above. We are experiencing similar levels of volatility with many of our other core holdings. It is frustrating to watch the values of these holdings fluctuate wildly, particularly to the downside, in the face of positive performance in business results. We remain laser focused on our core investment philosophy and approach of building value for shareholders over investment cycles through our focus on microcapitalization stocks enhanced by constructive activism.”

“We are investors, not traders,” continued Daniel B. Wolfe, President of 180 Degree Capital. “We seek to generate returns of greater than 100% over a one-to-three year holding period. We know this volatility of our holdings in a given month, quarter or even year does not often accurately reflect the health or business prospects of many of our portfolio companies. We believe there are material catalysts ahead in 2024 and beyond for our portfolio companies that could be the basis for material value appreciation and growth in 180 Degree Capital’s NAV in future quarters and years.”

About 180 Degree Capital Corp.

180 Degree Capital Corp. is a publicly traded registered closed-end fund focused on investing in and providing value-added assistance through constructive activism to what we believe are substantially undervalued small, publicly traded companies that have potential for significant turnarounds. Our goal is that the result of our constructive activism leads to a reversal in direction for the share price of these investee companies, i.e., a 180-degree turn. Detailed information about 180 and its holdings can be found on its website at www.180degreecapital.com.

Press Contact:Daniel B. WolfeRobert E. Bigelow180 Degree Capital Corp.973-746-4500ir@180degreecapital.com

Mo ShafrothRF BinderMorrison.shafroth@rfbinder.com

Forward-Looking Statements

This press release may contain statements of a forward-looking nature relating to future events. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company's current beliefs, and a number of important factors could cause actual results to differ materially from those expressed in this press release. Please see the Company's securities filings filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company's business and other significant factors that could affect the Company's actual results. Except as otherwise required by Federal securities laws, the Company undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. The reference and link to the website www.180degreecapital.com has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release. 180 is not responsible for the contents of third-party websites.

1. Daily estimated NAVs used for the discount calculation outside of quarter-end dates are determined as prescribed in 180’s Valuation Procedures for Level 3 assets. Non-investment-related assets and liabilities used to determine estimated daily NAV are those reported as of the end of the prior quarter.