AdS₂/CFT₁ correspondence and near-extremal black hole entropy

We provide a realization of the AdS$_2$/CFT$_1$ correspondence in terms of asymptotic symmetries of the AdS$_2\times$S$^1$ and AdS$_2\times$S$^2$ geometries arising in near-extremal BTZ and Reissner-Nordstr\"om black holes. Cardy's formula exactly accounts for the deviation of the Bekenstein-Hawking entropy from extremality. We also argue that this result can be extended to more general black holes near extremality.