Start Time: 09:00 End Time: 09:39 January 1, 0000 ET Q4 2021 Earnings Conference Call February 25, 2022, 09:00 AM ET Company Participants Kevin Rendino - Chairman and CEO Daniel Wolfe - President, CFO and Chief Compliance Officer Conference Call Participants Adam Waldo - Lismore Partners Daniel Wolfe Welcome to 180 Degree Capital Corp.'s Fourth Quarter 2021 Financial Results Update Call. This is Daniel Wolfe, President and Portfolio Manager of 180 Degree Capital. Kevin Rendino, our Chief Executive Officer a ...

1 Value Creation Through Constructive Activism Q Q4 2021 Shareholder Update Call February 25, 2022 Safe Harbor Statement This presentation may contain statements of a forward-looking nature relating to future events. Statements contained in this presentation that are forward-looking statements are intended to be made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the inherent uncertainties in predicting future r ...

180 Degree Capital Corp (NASDAQ:TURN) Q3 2021 Earnings Conference Call November 10, 2021 9:00 AM ET Company Participants Kevin Rendino - Chief Executive Officer and Portfolio Manager Daniel Wolfe - Chief Financial Officer Conference Call Participants Adam Waldo - Lismore Partners Daniel Wolfe Welcome to 180 Degree Capital Corp's Third Quarter 2021 Financial Results Update Call. This is Daniel Wolfe, President and Portfolio Manager of 180 Degree Capital. Kevin Rendino, our Chief Executive Officer and Portfol ...

180 Degree Capital Corp (NASDAQ:TURN) Q2 2021 Earnings Conference Call August 11, 2021 9:00 AM ET Company Participants Daniel Wolfe - Chief Financial Officer Kevin Rendino - Chief Executive Officer and Portfolio Manager Conference Call Participants Adam Waldo - Lismore Partners Daniel Wolfe Welcome to 180 Degree Capital Corp.'s Second Quarter 2021 Financial Results Update Call. This is Daniel Wolfe, President and Portfolio Manager of 180 Degree Capital. Kevin Rendino, our Chief Executive Officer and Portfol ...

Financial Data and Key Metrics Changes - The company reported a nearly 15% growth in NAV, reaching $10.60, the highest in over six years, driven by a 28% gain in public company investments [5][8][13] - A gain of $16.5 million was achieved in public and liquid securities, with cash and liquid securities equaling the share price [6][10] - Operating expenses decreased to approximately $919,000 for Q1 2021, down from an average of $1.3 million per quarter in 2016 [44][45] Business Line Data and Key Metrics Changes - The private portfolio decreased in value by $1.5 million, representing just 33% of the business, the lowest since the company's inception [7][39] - Public portfolio gains contributed $1.59 per share, while private portfolio losses accounted for $0.13 per share [13][14] Market Data and Key Metrics Changes - The company experienced a 28.3% gain in its liquid portfolio, with significant contributions from various sectors, particularly technology and industrials [15][29] - The technology sector accounted for a third of the performance, while industrials contributed 25% to the overall return [28][29] Company Strategy and Development Direction - The company has shifted its focus to public market investing, reducing reliance on private holdings, which has led to improved performance [10][33] - The management aims to continue growing the public portfolio and is optimistic about reaching $200 million in assets over the next five years [82][84] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of investments, particularly in sectors like construction and technology, as economies reopen [19][29] - The company is focused on creating shareholder value and is optimistic about future monetization events from its private portfolio [42][49] Other Important Information - The company has successfully streamlined operations and reduced costs, enhancing its financial health [36][44] - The management team has emphasized the importance of cash and liquid securities in driving the company's valuation [10][11] Q&A Session Summary Question: Future milestone payments from direct ownership and Petra - Management discussed the potential for receiving milestone payments, with the first payment likely dependent on a drug entering Phase 1 testing [53][54][56] Question: Delta increases in public portfolio - Management confirmed that the public portfolio had seen increases, aligning with the analyst's estimates [61][63] Question: Focus on materials and energy sectors - Management indicated that while they are not currently focused on energy, they are open to exploring opportunities in that sector if value is identified [66][67] Question: Long-term vision for the company - Management shared their vision for the company to reach $20 per share based on a projected $200 million in assets, emphasizing the importance of continued performance and potential monetization of private holdings [84][88]

Financial Data and Key Metrics Changes - The company reported a 7% growth in NAV for Q4 2020, consistent with Q3 performance, although public stock picking underperformed indices this quarter [5] - Cash and liquid securities increased from $20 million ($1.92 per share) in early 2017 to $59.7 million ($5.77 per share) at year-end 2020, and over $70 million ($7.02 per share) as of early 2021 [6][12] - The market is valuing the private portfolio at roughly zero, indicating a significant discrepancy between market valuation and intrinsic value [7] Business Line Data and Key Metrics Changes - The public portfolio saw strong performance from Quantum, Alta Group, and Potbelly, while Maven and Sonim lagged [7] - The private portfolio increased by $2.6 million, led by HALE and ORIG3N [41] Market Data and Key Metrics Changes - The company noted a shift in market sentiment post-vaccine announcement, with value stocks beginning to outperform growth stocks [19] - The discount to NAV improved to $0.70 on the dollar from $0.55, reflecting a stronger balance sheet [16] Company Strategy and Development Direction - The company is focusing on transforming its balance sheet into cash and liquid securities, with a goal of achieving a fully green pie chart representing asset allocation [39] - The management is optimistic about the potential for monetization of private portfolio holdings, particularly due to the growing acceptance of SPACs as a path to public listing [45][50] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery of the economy and the market, driven by vaccine distribution [112] - The company is more confident about monetization opportunities in 2021 compared to previous years, citing progress in private holdings and the SPAC trend [58] Other Important Information - The company completed a 1-for-3 stock split, which went smoothly [9] - Operating expenses were reduced significantly, with Q4 2020 expenses at approximately $645,000, down from $1.3 million per quarter prior to the strategy change [51][52] Q&A Session Summary Question: Are any private companies in discussions for IPO or SPAC? - Management confirmed that there is significant activity with private companies regarding SPAC discussions, although specific names cannot be disclosed [64][65] Question: What is the current environment in the micro-cap space? - Management noted a healthy market backdrop with a recovery underway, but acknowledged the potential for a pullback given recent market movements [112][113] Question: Does the company lend shares for interest income? - Management indicated that they would consider lending shares if there was demand, but noted that there hasn't been significant shorting of their holdings [118]

180 Degree Capital Corp. (NASDAQ:TURN) Q3 2020 Results Conference Call November 19, 2020 9:00 AM ET Company Participants Daniel Wolfe - President and Portfolio Manager Kevin Rendino - CEO and Portfolio Manager Conference Call Participants Brandon Goyette - Delta Investment Group Zach Liggett - Financial & Investment Management Group Daniel Wolfe Good morning and welcome to 180 Degree Capital Corp.Â's Third Quarter 2020 Financial Results Update Call. This is Daniel Wolfe, President and Portfolio Manager of 1 ...

180 Degree Capital Corp. (NASDAQ:TURN) Q2 2020 Results Conference Call August 11, 2020 9:00 AM ET Company Participants Kevin Rendino - CEO Portfolio Manager Daniel Wolfe - President, CFO and Portfolio Manager Conference Call Participants Daniel Wolfe Good morning, and welcome to 180 Degree Capital Corp.Â's Second Quarter 2020 Financial Results Call. And weÂ'll also discuss 2020 development through the third quarter as well. This is Daniel Wolfe, President and Portfolio Manager of 180 Degree Capital. Kevin R ...

180 Degree Capital Corp (NASDAQ:TURN) Q1 2020 Earnings Conference Call May 6, 2020 9:00 AM ET Company Participants Daniel Wolfe - President, Portfolio Manager Kevin Rendino - CEO and Portfolio Manager Conference Call Participants Adam Waldo - Lismore Partners LLC Bryant Riley - B. Riley Sam Rebotsky - SER Asset Management Operator Good morning, and welcome to 180 Degree Capital Corp.'s First Quarter 2020 Financial Results and Second Quarter 2020 Development Update Call. This is Daniel Wolfe, President, Port ...

Q Value Creation Through Constructive Activism Q4 2019 Shareholder Update Call February 25, 2020 1 Safe Harbor Statement This presentation may contain statements of a forward-looking nature relating to future events. Statements contained in this presentation that are forward-looking statements are intended to be made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the inherent uncertainties in predicting future r ...