Horizon Technology Finance Corp

Stock Repurchase Program

On May 1, 2026, the Company’s board of directors extended through June 30, 2027, the Company’s stock repurchase program which currently allows the Company to repurchase up to $10.0 million of its common stock at prices below the Company’s net asset value per share as reported in its most recent consolidated financial statements, provided such purchases, in the aggregate, do not exceed two percent (2%) of the shares outstanding at the time of purchase and such shares are purchased only when such shares are trading below 90% of the Company's most recently disclosed net asset value per share. On August 3, 2026, the Company’s board of directors approved an increase in the amount of common stock that may be repurchased under the stock repurchase program to allow the Company to repurchase up to a total of $20 million of common stock.

During the quarter ended September 30, 2026, the Company repurchased 2,033,991 shares of its common stock at a weighted-average price of $4.90 on the open market at a total cost of $10.0 million. From the inception of the stock repurchase program through September 30, 2026, the Company has repurchased 3,566,678 shares of its common stock at a weighted average price of $5.06 on the open market at a total cost of $18.1 million.