Associated Capital Group, Inc. (“AC” or the “Company”), announced today a range of its first quarter preliminary book value of $41.62 to $41.82 per share. This compares to $42.48 per share at December 31, 2021 and $41.22 at March 31, 2021.

Assets under management were $1.84 billion at March 31, 2022 as compared to $1.50 billion at March 31, 2021.

Associated Capital will be issuing further details on its financial results in early May.

About Associated Capital Group, Inc.

Associated Capital, based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along three core pillars: Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor; the SPAC business (Gabelli special purpose acquisition vehicles), launched in April 2018; and Gabelli Principal Strategies Group, LLC (“GPS”), created to pursue strategic operating initiatives.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

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