Runway Growth Finance (RWAY) investor relations material

Executive summary

• Completed the SWK Holdings acquisition, expanding the portfolio into healthcare and life sciences, and immediately enhancing diversification and earnings capacity.

• Net assets as of June 30, 2026, were $502.6 million, with a net asset value per share of $11.91.

• Investment portfolio at fair value reached $1.2 billion, up from $927.4 million at year-end 2025, with 57 debt and 101 equity investments across 79 companies.

• Appointed Michael Rovner as Co-CEO and Co-CIO, effective August 2026, strengthening leadership.

• Maintained a high dividend yield (~23%) and continued share repurchase program, with $3.1 million repurchased as of August 3, 2026.

Financial highlights

• Total investment income for Q2 2026 was $37.0 million, up from $35.1 million in Q2 2025 and $29.5 million in Q1 2026.

• Net investment income for Q2 2026 was $18.2 million ($0.43/share), compared to $13.9 million ($0.38/share) in Q2 2025.

• Portfolio fair value increased 35% to $1.2 billion, driven by the SWK acquisition.

• Net realized loss on investments was $45.3 million, mainly from Marley Spoon and Blueshift restructurings, offset by a net change in unrealized gain of $54.3 million.

• Net increase in net assets from operations for Q2 2026 was $27.2 million ($0.65 per share), up from $16.8 million ($0.45 per share) year-over-year.

Outlook and guidance

• Dividend of $0.33 per share declared for Q3 2026, with expectations of >100% coverage for the year.

• Management anticipates continued portfolio diversification, stable dividend, and sufficient liquidity to support near-term capital requirements.

• SWK acquisition expected to provide ongoing accretion of $0.05 per share quarterly.

• Adviser and affiliates committed to purchasing up to 10% of outstanding shares if trading at or below 70% of NAV.