180 Degree Capital shareholders call for special meeting for director election

180 Degree Capital (TURN) – or TURN – shareholders Marlton Partners, who together with ATG Fund II, Gabi Gliksberg and other TURN shareholders, are beneficial owners of more than 10% of the outstanding stock of 180 Degree Capital, have united for the sole purpose of delivering a letter to the TURN Board of Directors demanding that TURN hold a special meeting of TURN shareholders for the election of directors to the Board. This demand comes in response to what Marlton believes is the continued mismanagement of the company by TURN’s Board and management team, and ongoing neglect of shareholder interests in favor of entrenching and self-serving actions, including: TURN’s failure to hold a 2025 Annual Meeting of Shareholders in accordance with the company’s bylaws; lack of progress in the six months since the company’s proposed sale to Mount Logan Capital was announced, during which time TURN disclosed deal-related costs of $6M-$7M -equivalent to nearly 16% of Q1 NAV; the Board’s refusal to engage transparently with shareholders, including its failure to publish monthly NAV estimates in 2025, skipping both the FY2024 and Q1 2025 earnings calls, and failing to take questions from shareholders; a continued deterioration in NAV, which declined -4.7% through Q1 2025, with no updated figures or financial transparency since. Marlton remains open to constructive dialogue with company management.