X0306 4 2020-10-15 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 2020-10-15 4 A 0 2683 6.0000 A 25465 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 162299 I Horton Capital Partners Fund, LP The securities reported in Column 4 were awarded to the Reporting Person in lieu of quarterly fees for service on the Issuer's Board of Directors, which fees are paid in arrears following the end of the quarter. 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. /s/ Joseph M. Manko Jr. 2020-10-19