🧾 What This Document Is

This is an 8-K filing with an attached press release (Exhibit 99.1). Think of it as a company's official "news flash" to the stock market. Trinity Capital is sharing a quick update on its business activity for the first three months of 2026. It’s not the full quarterly earnings report (that comes May 6), but a sneak peek at how busy they were.

🏢 What The Company Does

👉 In simple terms, Trinity Capital is a specialized bank for fast-growing companies. Instead of taking deposits like a traditional bank, they act as an "alternative asset manager," meaning they lend money and invest in private companies that need capital to expand. They focus on five main areas: financing for private equity deals, equipment, tech startups, asset-backed loans, and life sciences companies.

💰 First Quarter 2026 Activity Breakdown

This quarter was all about making new deals and managing existing ones.

🏦 New Money Out The Door

• New Commitments ($395 Million): This is the total value of new loan and investment promises they made. Think of it as a pipeline of future deals. Most of this ($304M) was in secured loans.
• Funded Investments ($306 Million): This is the actual cash that left Trinity's accounts and went to companies this quarter. Here’s how it was split:
  • $236M in secured loans (the biggest chunk).
  • $54M in equipment financing (loans to buy machinery, etc.).
  • $16M in warrant and equity investments (riskier bets for potential ownership).

🎯 Where The Money Went

They provided fresh capital to 30 companies total.

• $176M went to 10 brand-new portfolio companies (fresh relationships).
• $129M went to 20 existing companies (doubling down on partners they know).
• $1M went to multi-sector holdings.

💵 Money Coming Back In

$238 million flowed back to Trinity from their investments. This is crucial—it shows their portfolio is healthy and returning capital. The biggest driver was $109 million from early debt repayments, which is great news (companies paying off loans ahead of schedule).

🚀 Key Moves & What They Signal

👍 Strong Origination Engine: Hitting nearly $400 million in new commitments shows their deal-making machine is running hot and they have a strong pipeline. This is the lifeblood for their business.

🔄 Healthy Recycling of Capital: Bringing in $238 million from repayments while deploying $306 million means they are actively recycling capital, putting returned money to work again to generate new returns for their investors.

📈 Blend of New & Existing Relationships: The nearly 50/50 split between funding new and existing companies suggests a balanced strategy—growing their network while deepening valuable partnerships.

📅 What's Next: The Full Picture

The main event is still coming. Trinity will release its complete Q1 2026 financial results on Wednesday, May 6, 2026. This will include the important details investors really care about: net investment income, earnings per share, and dividend declarations. A conference call to discuss the results will happen the same day.

📞 Conference Call Details:

• Date/Time: May 6, 2026, at 12:00 p.m. ET
• Phone: Dial (800) 267-6316 (U.S.) or (203) 518-9783 (International)
• Conference ID: TRINQ126
• Webcast & Replay: Available at ir.trinitycapital.com

⚖️ Big Picture: Strengths & Watchpoints

👍 Strengths:

• High Activity Level: The volume of deals ($395M new commitments) demonstrates strong market demand for their lending products.
• Diverse Funding Mix: They are lending across different types (loans, equipment, equity) and sectors, which can reduce risk.
• Efficient Capital Return: The significant inflows from repayments provide fresh "dry powder" to make new investments.

⚠️ Risks to Consider:

• Interest Rate Environment: As a lender, their profitability can be sensitive to changes in interest rates.
• Economic Health: Their success is tied to the health of the growth companies they lend to. A downturn could lead to more defaults.
• Competitive Market: They operate in the hot "private credit" space, facing competition from other funds and institutions.

🧠 The Analogy

Trinity Capital is like a high-end specialty orchard. They don't grow common crops (like big banks). Instead, they carefully select and nurture valuable, growing plants (companies) in specific niches (Tech, Life Sciences, etc.). This quarter's report shows they planted a lot of new saplings ($395M in new commitments), tended to their existing grove ($129M to existing companies), and harvested ripe fruit from healthy plants ($238M in repayments). The full harvest report (earnings) comes in May.

🧩 Final Takeaway

Trinity Capital had a very active first quarter, deploying over $300 million and promising nearly $400 million more in new deals. The strong inflow of cash from repayments is a positive sign of a healthy portfolio. The real test of profitability from all this activity will come with the full earnings report on May 6.

Contact: Ben Malcolmson, Head of Investor Relations, [email protected], (480) 852-3950.