2020 SHAREHOLDER-DESIGNATED CONTRIBUTION PROGRAM

I hereby designate the following organization(s) which I believe to be qualified as a charitable organization under Section 501(c)(3) of the U.S. Internal Revenue Code, to receive a charitable contribution from Associated Capital Group, Inc. (the “Company”) as follows:
If you hold more than 8,000 shares, you may designate a second charity to receive a charitable contribution from the Company, as follows:
I also affirm that: (1) the Company’s contribution will not be used to satisfy any part of a charitable pledge or other agreement which I have made with the charity; and (2) I have received no goods or services in connection with the Company’s contribution.