Slide 1: Forward Looking Statements | Disclaimer
FORWAR D LOOKIN G STATEMENT S I DISCLAIMER Trinity Capital Inc. (the "Company") cautions that this presentation may contain forward - looking statements that are based on current expectations and assumptions about future events, and which are not based in historical fact. The forward - looking state
Slide 2: Forward Looking Statements | Disclaimer
FORWARD LOOKING STATEMENTS | DISCLAIMER Trinity Capital Inc. (the “Company”) cautions that this presentation may contain forward-looking statements that are based on current expectations and assumptions about future events, and which are not based in historical fact. The forward-looking statements i
Slide 3: Trinity is at the forefront of technology and innovation
Trinity is at the forefront of technology and innovation, providing diversified financial solutions to the global growth economy with uncommon care for, and investment in, our people and partners.
Slide 4: Trinity is at the forefront of technology and innovation
Trinity is at the forefront of tec! innovation, providing diversified financial solutions to the global growth economy with uncommon care for, and investment in, our people and partners.
Slide 5: Unique Team, Scalable Systems, New Synergistic Offerings
Unique Team Scalable Systems New Synergistic Offerings
Slide 6: Kyle Brown, President & CIO
Kyle Brown President & CIO
Slide 7: How We Do What We Do: The Trinity Difference
HOW WE DO THE TRINITY DIFFERENCE WHAT WE DO
Slide 8: Internally Managed BDC
INTERNALLY MANAGED BDC Maximize shareholder value for investors Target 98%+ distribution of our taxable earnings
Slide 9: Company values
Humility Trust Integrity Continuous Learning Uncommon Care Entrepreneurial Spirit
Slide 10: Combined yop
y of combined yop
Slide 11: Relationships with Venture Capital Firms, Not Competing with Banks
Relationships with Venture Capital Firms ot Competi g with Banks
Slide 12: Balance Sheet
12/31/2021 9/30/2021 6/30/2021 3/31/2021 12/31/2020 Tota l Investment s a t fai r value $873,470 $677,246 $597,696 $535,741 $493,651 Cas h an d cash equivalents 31,685 25,313 19,124 36,026 44,656 Restricted cash 15,057 15,000 15,341 15,259 16,445 Interest Receivable 5,551 4,481 4,065 3,924 3,468 Pre
Slide 13: Balance Sheet
BALANCE SHEET (in 000's, except per share amounts) Assets Total Investments at fair valve ‘Cash and cash equivalents Resticted cash Interest Receivable Prepaid Expenses & Other Assets Total Assets Liabilities "August 2026 Notes payable, net of unamortized deferred fnancing cost 2025 Notes payable, n
Slide 14: Asset Growth
ASSET GROWTH Total Investments at FMV ($ in millions) Total Assets ($ in millions) $1.000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 $1.000 $900 $800 $700 $600 $500 $400 $300 $200 $100 $0 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2
Slide 15: Portfolio Trends
PORTFOLIO TRENDS TOTAL PORTFOLIO BY INVESTMENT TYPE C 1 > • Loans • Equipment Finance • Equity • Warrant Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 ► Stron g Asse t Diversification FIXED VS FLOATING DEBT INVESTMENTSC 2 > • Fixed • Floating Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 ► Pivoting to Floating
Slide 16: Disciplined Credit Rating
DISCIPLINED CREDIT RATING Consistent and Disciplined Underwriting Standards 3.2 3.2 3.2 3.2 3.0 $800 $700 $600 $500 $400 $300 $200 $100 $0 3.5 3 2.5 - Total Debt Investments (FV, $ in million) 2 ....,.. Weighted Investment Credit Rating 1.5 1 01 - 20 02 - 20 03 - 20 04 - 20 01 - 21 02 - 21 03 - 21 0
Slide 17: Disciplined Credit Rating
DISCIPLINED CREDIT RATING Consistent and Disciplined Underwriting Standards $800 $100 —zy- $600 $500 32 32 32 32 $400 $300 $578 soo $443 100 $0 3a 35 3 28 gum Total Debt investments (FV $ in milion) 2. ~® Weighted investment Credit Rating 18 1 at20 © 92-20 4-20 a2 2213-21-21 Credit risk rating at Fa
Slide 18: Trinity NAV and Quarter End Stock Price
$17.58 - Trinit y NAV - Trmi yQu r En d Stoc k Pr1c
Slide 19: Income Statement
INCOME STATEMENT For the three months ended (In 000's , except per share amounts) Interest expense and other debt financing costs Compensation and benefits General and administrative 3,677 3,370 3,996 2,315 1,878 1,601 1,455 1,232 13 , 031 10,66 7 9,39 6 10 , 067 10 , 054 4,475 4,482 - 10 , 576 - -
Slide 20: Strong Earnings
STRONG EARNINGS Total Investment Income ($ in millions) Net Investment Income ($ in millions) $25.0 $20.0 $15.0 $10.0 $5.0 $0 $12.0 $10.0 $ 8 . . 0 $6.0 $4.0 $2.0 $0 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21
Slide 21: Income Sources
INCOME SOURCES $24,000 $21,000 Q ) $18,000 E 0 (.) . . C . , : C: Q) .. E ., (/) $15,000 $12,000 Q ) > C: .. c . o , $9,000 $6,000 $3,000 $0 04 - 20 01 - 21 02 - 21 03 - 21 04 - 21 LOANS - CASH EQUIPMEN T FINANCIN G - CASH + 010 ACCELERATED 010 + FEES
Slide 22: Debt Portfolio Yields
DEBT PORTFOLIO YIELDS $700 ...., ti) 0 (.) $600 15% - < .. . . t . i ) ., ! - . · r:: C. Q) , - , $500 . . E .., = † .,, - C , D u,= 13% Q) E n r > : : . - _, CD ::::, r+ D ) cc CD ...., .c $400 Q ) C .. c .. o , 11% $300 $200 17% 0 01 - 20 02 - 20 03 - 20 04 - 20 01 - 21 02 - 21 03 - 21 04 - 21 - T
Slide 23: ROAA / ROAE
ROAAIROAE Return on Average Assets% (ROAA) Return on Average Equity% (ROAE) 9.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% 14.0% Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 Q1 - 20 Q2 - 20 Q3 - 20 Q4 - 20 Q1 - 21 Q2 - 21 Q3 - 21 Q4 - 21 - TRIN - PEER GROUP - TRIN - PEER GROUP Peer Group
Slide 24: Dividend Growth
DIVIDEND GROWTH $3.00 $2.50 Q) I c . . o en I.. $2.00 Q ) a. "C C: Q ) $1.50 "C ' a > $1.00 $0.50 $0 0 1 Regular Dividend $0.40 0 1 Supplemental Dividend $0.15 Total 01 Dividend $0.55 2022 Supplemental Dividend $0.60 (subject to Board Approval) - CUMMULATIVE - SUPPLEMENTAL DIVIDEND
Slide 25: Dividend Growth
Dividend Per Share DIVIDEND GROWTH $5.00 $2.50 $2.00 sis0 — $100 $0.50 $0 3zBa ar20 © 02-20 03-20 mE CUMMULATIVE 04-20 ata —@— quarrery 2-21 3-21 04-21 at22 MME SUPPLEMENTAL DIVIDEND. Q1 Regular Dividend $0.40 Q1 Supplemental Dividend $0.15 Total Q1 Dividend $0.55 2022 Supplemental Dividend $0.60 (s
Slide 26: Total Returns
TOTAL RETURNS so. $120 S110 $100 $90 TRIN S&P BDC Index S&P 500 NASDAQ Financial 100 Index ay29128 svn e30/21 9/30/21 ise
Slide 27: Venture Capital Market
VENTURE CAPITAL MARKET $350 17 , 0 54 18,000 16,000 $300 14,000 $250 Q . w .. 12,000 0 w cii - $200 0 "ft C, 10,000 z - > z 0 ::J 0 J m Cl:: in z 8,000 J> .:::::, $150 r - 0 0 j ..J Q 6,000 $100 4,000 $50 2.000 0 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 - VCD
Slide 28: Venture Capital Market
VENTURE CAPITAL MARKET Q w i a wu > = 7) & ¢ 2 = ° a $350 $500 $250 $200 S10 $100 $50 2006 2007 2008 2009 2010 zon 2012 mE VCDOLLARS 2018 20m 201 2016 —@— soFDEALs 207 2016 209 2020 2001 18.000 +1600 14000 +2000 10000 8,000 6000 ‘4000 2.000 S1vaq 40 #
Slide 29: $757M / $1.69 Billion+ Since Inception
$757M $1.69 BILLION+ SINCE INCEPTION
Slide 30: Venture Capital Firms
VENTURE CAPITAL FIRMS
Slide 31: Stay Top of Mind
>> EC T NKS >< N - P RS 9 N MEEil'IN S ++ STAY TOP OF MIND
Slide 32: Marketing: Direct, In-Person, Co-Sponsor
MARKETING DIRECT = = © IN-PERSON = = = ~—|——CO-SPONSOR MEETINGS = = = = = | MULTIPLE EVENTS STAY TOP OF MIND
Slide 33: Slide 33
Slide 34: Break
BREAK >
Slide 35: Qwick
Qwick Jamie manag . £ ao
Slide 36: Meet the future of staffing as a service
Meet the future of staffing as a service
Slide 37: A game-changer for lenders serving America's communities
’ | ae Oa A game-changer for lenders _ serving America’s communities
Slide 38: Qwick
Qwick Jamie naman “
Slide 39: Credit team members
Cy Qu Ron Gerry Jonathan Nader Kundich Harder Cheung Maghsoudnia =
Slide 40: Ron Kundich, Chief Credit Officer
\ ; Ron Kundich Chief Credit Officer = 25+ Years in the Venture Ecosystem Silicon Valley Bank Imperial Bank Comerica Bank Founding Member at Square 1 Bank (now PacWest Bank)
Slide 41: 30+ Years Technology Companies
30+ Years Technology Companies Cofounder of a Venture-backed startup Chief Operating Officer Technical Development Chief Operating Officer Jil Portfolio Management
Slide 42: Our Credit Team is Growing, Scalable Systems
Our Credit Team is Growing Scalable Systems
Slide 43: Our Credit Team is Growing, Scalable Systems
Our Credit Team is Growing Scalable Systems
Slide 44: Limited Covenants, Enterprise Value, In-house Expertise
Limite d Fi Covenant Enterpris Value In - house Expertise Highers of Under w (.) z w a :: w IL IL - Q
Slide 45: Credit process steps
UNDERWRITING REPORT AND 1.C. VOTE INITIAL RATING TERM SHEET ISSUANCE TORY CE & ITE PRELIMINARY DILIGENCE
Slide 46: Credit Process
Credit Process UNDERWRITING REPORT AND 1.C, VOTE INITIAL RATING PRELIMINARY DILIGENCE
Slide 47: Our Team Understands Technology and the Early-Stage
ea — a OUR TEAM UNDERSTANDS TECHNOLOGY BAND THE EARLY-Si GE
Slide 48: Credit Underwriting
Credit Underwritiiag DEBT CAPITALIZATION STRUCTURE PRODUCT & MARKET
Slide 49: More Than Capital
MORE THAN CAPITAL
Slide 50: RIA Warehouse Fund, Life Sciences Fund, Jumbo Loans Fund
TRIN RIA WAREHOUSE FUND LIFE SCIENCES FUND ":JUMBO" LOANS FUND RIA is a subsidiary of TRIN Fee income rolls up to TRIN as dividend Expense allocated down Monetizing existing platform with multiple financing products OTHER OPPORTUNITIES *Subject to receiving exemptive relief from SEC
Slide 51: TRIN RIA Warehouse Fund and other opportunities
TRIN RIA WAREHOUSE scieaees ae OTHER FUND OND FOND OPPORTUNITIES RIA is a subsidiary of TRIN Fee income rolls up to TRIN as dividend Expense allocated down Monetizing existing platform with multiple financing products *Subject to receiving exemptive relief from SEC
Slide 52: Investment in people always produces the best return
INVESTMENT IN PEOPLE ALWAYS PRODUCES - STEVE BROWN THE BEST RETURN ON INVESTMENT CHAIRMAN AND CEO -
Slide 53: Investment in people always produces the best return
INVESTMENT IN PEOPLE ALWAYS PRODUCES Ui) RETURN ON INVESTMENT — STEVE BROWN (iQ UANN I NNTB @]=10 le
Slide 54: Trinity Capital
TRINITY JY CAPITAL