180 Degree Capital Corp

Media error: Format(s) not supported or source(s) not found

“A portfolio of strong business and franchises, purchased at the right price, outperforms over a market cycle.”

– Kevin Rendino, Portfolio Manager & CEO

“Few investors are willing/able to spend the time and energy identifying, conducting due diligence on, and actively engaging with microcap companies to unlock intrinsic value.”

– Daniel B Wolfe Portfolio Manager & President The price we pay relative to the business we buy is the most important driver of investment returns

Out-of-favor companies and industries create opportunities to identify investments that offer asymmetric return-to-risk potential

Companies with strong franchises, managements, and balance sheets are the best positioned to turnaround, gain market share, and improve profitability

A High-Conviction, Concentrated Portfolio

180’s focus is on building meaningful positions in a small number of portfolio companies

We do not have any specific industry focus, but often find value in industries that have cyclical characteristics

“We want to capitalize by identifying undiscovered investment opportunities in microcap companies which often have little to no analyst coverage.”

– Rob Bigelow, V P , Fund Development

“Our constructive activist approach can lead to a reversal in direction for the share prices of these investee companies… i.e., a 180-degree turn.”

– Kevin Rendino,  Portfolio Manager & CEO

• Prioritize revenue growth over operating profits
• Favor the status quo rather than change
• Lack an understanding of ”buy side” investors and the public markets in general
• Expend capital resources on perceived long-term opportunities at the expense of near-term results
• Do not appreciate the impact of flawed capital structures on shareholder value
• Entrench themselves to protect their jobs and positions

PORTFOLIO

MANAGERS AND INVESTMENT TEAM Portfolio Manager & CEO 30+ Years Investment Management Experience 5+ Years Public Company Board and Operating Experience Joined 180 in 2016 after serving as the Value Fund leader at BlackRock B S Boston College Portfolio Manager & President 15+ Years Investment Management 15+ Years Public Company Operating Experience Joined 180 in 2004 and led alternative investments at 180’s predecessor company B A Rice University A M and Ph D Harvard University

Matthew T. Epstein, CFA

Senior Analyst 15+ Years Investment Experience Joined 180 in 2022 from Evermore Global Advisors, LLC B S New York University MBA Columbia University V P , Fund Development Joined 180 in 2017 after investment management and capital raising at Blue River Asset Management B A Yale University

A Track Record of Constructive Activism

CATALYSTS TO IMPROVE

SHAREHOLDER VALUE