Investor Presentaiton

(a) Net Asset Value (NAV) HERCULES CONSISTENTLY MAINTAINS A PREMIUM TO NAV CREATES A STRONG CAPITAL RAISING POSITION TO SUPPORT GROWTH 1.5 1.43 $16 1.4 1.32 1.33 1.27 1.3 $14 1.23 1.2 1.11 1.1 $12 0.96 0.86 0.86 0.96 1 0.84 0.9 0.92 0.8 $10 0.7 0.6 $9.94 $9.90 $9.96 $9.90 $10.55 $11.26 $8 0.5 2015 2016 2017 2018 2019 Q4 2020 (a) Hercules NAV Hercules Price to NAV Peer Group Price to NAV Peer Group: AINV, ARCC, BKCC, OCSL, FSK, GBDC, GSBD, MAIN, NMFC, OXSQ, PNNT, PSEC, SLRC, BBDC, TCPC, FCRD, TSLX Price to NAV Source: S&P CaplQ as of 12/31/20 for HTGC and Peer Group. Stock price based on closing price on last trading day of each calendar year or relative quarter. Xercules. CAPITAL 10 Price to NAV Multiple (x)

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