Press Releases

$576 million of commitments through the first half of 2024

PHOENIX, July 18, 2024 /PRNewswire/ -- Trinity Capital Inc. (Nasdaq: TRIN) ("Trinity Capital" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced certain highlights for the first half and second quarter of 2024. Trinity funded a record $474 million of investments in the first half of 2024 and originated $289 million of total new commitments in the second quarter, bringing total new commitments for the first half ended June 30, 2024, to $576 million.

"Trinity is executing across all of our strategies to deliver strong growth in 2024," said Kyle Brown, Chief Executive Officer of Trinity Capital. "Our five distinct business verticals — tech lending, equipment financing, life sciences, warehouse financing, and sponsor finance — have generated extraordinary momentum and we have expanded our operational footprint into Europe. We are seeing an increasing number of exceptional investment opportunities, and our team will continue to be highly selective with our investments."

First half 2024 investment highlights:

• The Company originated approximately $576 million of total new commitments, which was comprised of $387 million in secured loans, $182 million in equipment financings and $7 million in equity investments.
• Total investments funded surpassed $474 million, which was comprised of $291 million in secured loans, $168 million in equipment financings and $15 million in warrant and equity investments.
• The Company funded $349 million to 18 new portfolio companies, $111 million to 23 existing portfolio companies and $14 million of investments to off-balance-sheet vehicles.
• Proceeds received from repayments of the Company's investments totaled approximately $329 million, which included $83 million from early debt repayments and refinancings and $123 million from investments sold to off-balance-sheet vehicles.

Second quarter investment highlights:

• Trinity originated approximately $289 million of new commitments, which was comprised of $171 million in secured loans, $113 million in equipment financings and $5 million in equity investments.
• Q2 investments funded totaled approximately $231 million, which was comprised of $104 million in secured loans, $118 million in equipment financings and $9 million in warrant and equity investments.
• During the second quarter, the Company funded $134 million to 10 new portfolio companies, $90 million to 18 existing portfolio companies and $7 million of investments to off-balance-sheet vehicles.
• Proceeds received from repayments of the Company's investments during the second quarter totaled approximately $180 million, which included $40 million from early debt repayments and $68 million from investments sold to off-balance-sheet vehicles.

About Trinity Capital Inc.

Trinity (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans, equipment financings and equity-related investments. Trinity believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience, and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in filings with the Securities and Exchange Commission ("SEC"). The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release. More information on risks and other potential factors that could affect the Company's financial results, including important factors that could cause actual results to differ materially from plans, estimates or expectations included herein or on the webcast/conference call, is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed annual report on Form 10-K and subsequent SEC filings.

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SOURCE Trinity Capital Inc.

Ben Malcolmson, Head of Investor Relations, Trinity Capital, Inc., ir@trincapinvestment.com