X0306 4 2020-08-14 0 0000086115 SAFEGUARD SCIENTIFICS INC SFE 0001664091 Manko Joseph M. Jr. 1717 ARCH STREET 39TH FLOOR PHILADELPHIA PA 19103 1 0 0 0 Common Stock, $0.10 par value 22782 D Common Stock, $0.10 par value 304722 I Horton Capital Management, LLC Common Stock, $0.10 par value 707845 I Sierra Capital Investments, L.P. Common Stock, $0.10 par value 2020-08-14 4 P 0 2205 6.1761 A 161089 I Horton Capital Partners Fund, LP Common Stock, $0.10 par value 2020-08-17 4 P 0 1210 6.1622 A 162299 I Horton Capital Partners Fund, LP Securities held in certain accounts (collectively, the "Managed Accounts") managed by Horton Capital Management, LLC ("HCM"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which acts as the investment adviser to the Managed Accounts, may be deemed to beneficially own the securities held in the Managed Accounts for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Section 16"). The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. Securities owned directly by Sierra Capital Investments, L.P. ("Sierra"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which together with Maplewood Advisors IM, LLC, serve as the investment managers of Sierra, and as the managing member of Horton Capital Partners, LLC ("HCP"), which together with Maplewood Global Partners, LLC, serve as the general partners of Sierra, may be deemed to beneficially own the securities directly held by Sierra for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. Securities owned directly by Horton Capital Partners Fund, LP ("HCPF"). The Reporting Person, solely by virtue of his position as the managing member of HCM, which serves as the investment manager of HCPF, and as the managing member of HCP, which serves as the general partner of HCPF, may be deemed to beneficially own the securities directly held by HCPF for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.17 to $6.18. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commision (the "SEC"), upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.13 to $6.18. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote. /s/ Joseph M. Manko Jr. 2020-08-18