Horizon Technology Finance Corporation · NASDAQ:HRZN
Horizon Technology Finance — Q2 2026 Earnings Presentation
16 slides from Horizon Technology Finance's earnings presentation, August 2026
Slide 1: Investor Presentation – Second Quarter 2026
An affiliate of Monroe Capital Investor Presentation – Second Quarter 2026 NASDAQ: HRZN August 2026 www.horizontechfinance.com ©2026 Horizon. Confidential and proprietary.
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements which are based on current expectations and assumptions about future events. Forward-looking statements describe future financial or business performance, strategies, or expectations, and are g
Slide 3: Investment Highlights
Investment Highlights Additional Upside A Top-Yielding Efficiently Provide Potential from BDC Portfolio Growth Capital Warrants Strong Underwriting, Significant Capacity Deeply Experienced Deal Structuring and to Invest in Management Team Account Oversight Robust Pipeline 3
Slide 4: Company Overview
Company Overview UNIQUE & SOLID FINANCIALS AMPLE GROWTH DIFFERENTIATED OPPORTUNITIES STRATEGY ▪ 15.7% TTM avg debt portfolio yield ▪ Robust investment pipeline in ▪ Leading provider of secured ▪ Strong and stable credit dynamic markets loans to venture capital and private ▪ Expanding investment port
Slide 5: By The Numbers
By The Numbers Annualized Portfolio Dividend Debt Portfolio Size Yield Yield 14.9% $676.7M 15.2% Net Asset Cumulative Value Distributions per share since IPO $6.23 $21.18 As of June 30, 2026 5
Slide 6: Sound Investments With Strong Yields
Sound Investments With Strong Yields Secured strategy Premium yield with capital Diversified Portfolio Priority interest appreciation opportunity Diversification = lower over equity and Multiple ways to generate concentration of risk unsecured debt yield – interest, fee prepayments, warrants Advanta
Slide 7: Large Addressable Market for Growth Capital
Large Addressable Market for Growth Capital Ample Opportunity to Invest in Development Stage Companies Technology $403.0B Addressable Healthcare $14.6B Technology Market 3Q2025 – 2Q2026 Venture Capital Invested $38.1B Life Sciences $100.6B Other $83 Billion* * Venture debt represents 10-20% of Sourc
Slide 8: Flexible Financing for Public Growth Companies
Flexible Financing for Public Growth Companies Fund Overview RoHo is a newly formed joint venture established to provide opportunistic credit solutions to small and mid-cap public companies, designed to serve public companies that cannot access traditional debt markets providing fast, issuer-aligned
Slide 9: Venture Loan Process – From Origination to Exit
Venture Loan Process – From Origination to Exit Portfolio Underwriting and Loan Closing Direct Origination Management Due Diligence and Funding and Exit Detailed prescreen Comprehensive site visits, Document loan with experienced Hands-on approach to portfolio discussions/assessments with all in-hou
Slide 10: Predictive Pricing Strategy
Predictive Pricing Strategy Sample Portfolio Investment Commitment Prepayment Loan Interest Fees Fees Rate Warrants and Equity Rights Coupon End of Term Acceleration of Payment Fees Gross IRR 9% – 11% 10% - 13% 12% - 16% 13% - 18% Structure integral to all HRZN loans 10
Slide 11: Dedicated Portfolio Management
Dedicated Portfolio Management 1 Proactively manage each portfolio investment 2 Diligent, hands-on management from funding to exit – regular reviews and reporting 3 Experienced senior management involved in every investment 4 Comprehensive work to maintain loans in good standing with a focus on reco
Slide 12: Select Portfolio Companies
Select Portfolio Companies CURRENT PORTFOLIO COMPANIES FORMER PORTFOLIO COMPANIES * * * AI-powered TV audience and Satellite intelligence Cardiac diagnostic AI-based Online education Rare disease Healthcare autonomous vehicle advertising infrastructure services dementia care network biopharma admini
Slide 13: Well-Diversified Portfolio
Well-Diversified Portfolio By Industry By Sector By Stage By Geography Software 34% 13% Medical Device 33% 11% 37% 21% Biotechnology 16% 12% 34% 23% 15% Health Software 45% 6% 5% 73% Other Healthcare 7% 6% Other Sustainability 5% Technology Consumer Related Expansion Tech 2% Life Science Later Commu
Slide 14: Long-Term Growth - Significant Liquidity & Capacity
Long-Term Growth - Significant Liquidity & Capacity Size of Balance as of Available ($ in millions) Commitment 6/30/2026 Capacity Cash and Cash Equivalents - $135.0 $135.0 2031 Convertible Notes $2.8 $2.8 - 2030 Convertible Notes $16.5 $16.5 - 2028 7.00% Notes $57.5 $57.5 - 2027 6.25% Notes $57.5 $5
Slide 15: Long-Term Growth Catalysts
Long-Term Growth Catalysts Growing pipeline of investments / backlog Increasing leverage Substantial capacity Future warrant upside 15
Slide 16: Investment Highlights
Investment Highlights Additional Upside A Top-Yielding Efficiently Provide Potential from BDC Portfolio Growth Capital Warrants Strong Underwriting, Significant Capacity Deeply Experienced Deal Structuring and to Invest in Management Team Account Oversight Robust Pipeline 16
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