ArrowMark Financial : Q1 2024 Investor Presentation

A CLOSED-END FUND LISTED ON NASDAQ (TICKER: BANX)

QUARTERLY UPDATE | 1Q 2024

Filed Pursuant to Rule 497(a) Registration No. 333-197689 Rule 497ad

Disclaimers & Disclosures

Forward-Looking Statements

This presentation, and all oral statements made regarding the subject matter of this communication, contain forward-looking statements, including statements regarding the matters described in this presentation. Such forward-looking statements reflect current views with respect to future events and financial performance. Statements that include the words "should," "would," "expect," "intend," "plan," "believe," "project," "anticipate," "seek," "will," and similar statements of a future or forward-looking nature identify forward-looking statements in this material. All such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Actual future results may differ significantly from those stated in any forward-looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of shares of common stock, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in ArrowMark Financial Corp.'s (NASDAQ: BANX) ("Fund") filings with the SEC, which are available at the SEC's website http://www.sec.gov. Any forward-looking statements speak only as of the date of this communication. The Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date hereof.

About ArrowMark Financial Corp.

ArrowMark Financial Corp. is an SEC registered non-diversified,closed-end fund listed on the NASDAQ Global Select Market under the symbol "BANX." Its investment objective is to provide shareholders with current income. BANX's primary investment objective is to provide stockholders with current income. We attempt to achieve our investment objectives through investments in preferred equity, subordinated debt, convertible securities, regulatory capital relief securities and, to a lesser extent, common equity. Together with banks, we refer to these types of companies as banking-related and intend, under normal circumstances, to invest at least 80% of the value of our net assets plus the amount of any borrowings for investment purposes in such businesses. There is no guarantee that we will achieve our investment objective. The Fund is managed by ArrowMark Asset Management LLC ("ArrowMark").

ArrowMark Asset Management, LLC is majority owned by ArrowMark Colorado Holdings LLC ("ArrowMark Partners"). ArrowMark Partners is a registered investment adviser. ArrowMark has entered into a staffing agreement (the "Staffing Agreement") with its parent company, ArrowMark Partners and several of its affiliates. Under the Staffing Agreement, ArrowMark Partners provides experienced investment professionals to ArrowMark and provides access to their senior investment personnel. ArrowMark capitalizes on the significant deal origination, credit underwriting, due diligence, investment structuring, execution, portfolio management and monitoring of ArrowMark Partners' investment professionals.

About Destra Capital Advisors

Founded in 2008, Destra Capital Advisors LLC ("Destra") was built to help independent thought leaders achieve better wealth outcomes by sourcing the next generation of investment solutions. Destra provides secondary market services for eleven listed closed-end funds by responding to investor inquiries, providing information about the Funds and their portfolios, assisting with communication efforts, and speaking with institutional investors and financial advisors.

Destra Capital Advisors LLC, a registered investment advisor, is providing secondary market servicing for the Fund. To learn more, visit ir.arrowmarkfinancialcorp.com or contact Destra Capital Advisors at 877-855-3434 or [e-mail].

ARROWMARK FINANCIAL CORP. (BANX)

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ArrowMark Financial Corp. (BANX)

Portfolio and Performance

Regulatory Capital Relief Overview

Financials

Key Personnel

ArrowMark Financial Corp. (NASDAQ: BANX) Overview

ArrowMark Financial Corp. (BANX) (the "Fund") SEC registered closed-end investment management fund

Inception Date	November 13, 2013
Investment Objective	Provide shareholders with current income. The Fund's strategy has a focus on income generation,
capital preservation, and providing risk-adjusted rates of return.
Investment Adviser	ArrowMark Asset Management LLC ("ArrowMark") and its affiliates are one of the largest and longest-
tenured investors in the regulatory capital relief or risk-sharing market, with a 13-year track record of
	partnering with the leading global bank issuers.
Investment Positioning	Meaningful floating rate assets (approximately 88%) positions well in an elevated interest rate
environment and can be considered as a potential hedge to inflation
History	ArrowMark was appointed investment advisor to the Fund in February 2020. Subsequently, the Fund
changed its name from StoneCastle Financial Corp. to ArrowMark Financial Corp.
Total Assets1	$205 million
Historical Distribution Rate2,3	9.9%
Premium / (Discount) to	(12.9%)
NAV3,4
Since Inception NAV Return5	7.96%
(Annualized)

Data as of 3/31/2024 unless otherwise indicated. Source: ArrowMark Financial Corp. Past performance is no guarantee of future results. 1Total Gross Assets. 2Distribution yield calculation based on last four quarters and includes quarterly and special income distributions but excludes $0.42 long term capital gains distribution, divided by closing share price as of 5/7/2024. Distributions from net investment income, if any, are declared and paid quarterly. Distributions, if any, of net short-term capital gain and net capital gain (the excess of net long-term capital gain over the short-term capital loss) realized by the Fund, after deducting any available capital loss carryovers, are declared and paid to shareholders at least annually. Income distributions and capital gain distributions are determined in accordance with U.S. federal income tax regulations, which may differ from U.S. GAAP. These differences include the treatment of non-taxable distributions, losses deferred due to wash sales and excise tax regulations. Permanent book and tax basis differences relating to shareholder distributions will result in reclassifications within the components of net assets. 3Closing share price of $18.50 on May 7, 2024. 4NAV as of March 28, 2024. 5The Fund commenced operations on November 13, 2013.

ARROWMARK FINANCIAL CORP. (BANX)

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Differentiated Closed-End Fund1 with a Strong Track Record

9.9%

Distribution

Yield2

RCRS typically issued by

large, global banks

11

Industry Focused Credit

Analysts

15.0% Q1 2024 Portfolio

Investment Yield3

Unique investment vehicle dedicated to

investments in regulatory capital

relief securities (87.7% of Total Assets)

• ~98% of BANX RCRS issued by banks with Total Assets > $500 billion (e.g. global money center banks) and rank as senior unsecured obligations
• Reference loan portfolios consist of strong credit quality loans, with a dollar weighted average rating typically ranging from BB+ to BBB-
• Reference loan portfolios benefit from strong borrower, geographic, and sector diversification
• RCRS coupons float using a base rate plus contractual spread

Fund supported by established

investment firm & seasoned

leadership team

• ArrowMark Partners manages $22.3 billion platform with proprietary investment sourcing and significant resources including 44 investment professionals with an average of 18 years of experience
• BANX benefits from an experienced senior management team with over 120 years of experience as credit and risk managers
• Disciplined investment approval process focused on asymmetric, risk-adjusted returns. RCRS reference loans are individually analyzed by our 11 industry focused credit analysts

Strong earning performance under

ArrowMark leadership4

• BANX has consistently outearned its distribution with quarterly EPS having increased by +71% (Q1 2024 vs Q4 2019)4. For Q1 2024, EPS of $0.70 exceeded the declared distribution of $0.45 per share
• Distributions increased by +21.1% (LTM Q1 2024 vs YE 2019)4,5. The Q1 2024 distribution represents a yield of approximately 9.9%.2 All distributions during this period have come from net income or realized long-term capital gains
• Net asset value has remained relatively stable, while % Return on Net Assets6 has increased by 5.7 points to 13.1% from 7.4% (Q1 2024 vs. Q4 2019)
• Q1 2024 portfolio investment yield increased to 15.0% from ~9.6% (Q4 2019)3

1Data as of 3/31/2024 unless otherwise noted. Source: ArrowMark Financial Corp. 2Distribution yield calculation based on last four quarters and includes quarterly and special
income distributions but excludes $0.42 long term capital gains distribution, divided by closing share price as of 5/7/2024. 3Portfolio investment yield is calculated as annualized
income from long term investments held at quarter end divided by total assets. 4Year end distributions include declared, special, but excludes capital gains distributions. 5ArrowMark
acquired the management rights to BANX on February 12, 2020. Comparisons under ArrowMark leadership is vs either year end 2019 or fourth quarter 2019 performance. 6Return
on Net Assets defined as applicable last quarter annualized Net Income divided by Net Assets (i.e.Total Assets - Total Liabilities).	ARROWMARK FINANCIAL CORP. (BANX)	5

ArrowMark Partners has significant capabilities and expertise as a well-established investment manager

ArrowMark Partners At-A-Glance

$22.3 billion in Assets Under Management1

• Active investment process, driven by fundamental research and analysis
• Specialized expertise in nuanced credit and inefficient equity markets
• Manage alternative, traditional, and customized investment strategies in public and private vehicles
• 100 employees
• 44 tenured investment professionals
• 100% employee-owned
• 50% of firm partners are women and/or minorities
• Headquartered in Denver, CO with presence in California, London, and New York

By Asset Type ($B)		By Investor Type ($B)
		Retail /	Other,	$0.9
		Intermediary,
Commercial Real
	$1.8
Estate, $2.1
		Insurance,		CLO Funds,
		$5.4
		$2.2
Credit &	Equity,
Multi-Asset,	$9.4	Family Office /
$5.4
	HNW, $3.1		Sub-Advisory,
				$5.0
	CLO		Corporate /
	Funds,
		Public,	$3.9
	$5.5

As of 3/31/2024. 1CRE AUM includes real estate related assets originated and/or currently managed or advised by ArrowMark Partners. Other includes sovereign wealth, not-for-profit institutions, union and multi-employer, and internal capital. Firm level track record is available upon request.

ARROWMARK FINANCIAL CORP. (BANX)

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Partnership with an Experienced, Senior Investment Team

REGULATORY CAPITAL RELIEF		LEVERAGED CREDIT		BANX INVESTMENT
TEAM		TEAM		COMMITTEE

Kaelyn Abrell

25 Years' Experience

Alexis

De Vrieze (L)

16 Years' Experience

Sanjai Bhonsle

29 Years' Experience

Dana Staggs

21 Years' Experience

Sanjai Bhonsle

Partner

Moritz

Ruhdorfer (L)

13 Years' Experience

Scott

Brody

14 Years' Experience

AJ Somers

17 Years' Experience

Karen Reidy, CFA

Partner

35 Years' Experience

Maia

Allen

3 Years' Experience

Tim Beresford

24 Years' Experience

Kaelyn Abrell

Partner

11 Corporate Credit		4 CRE Investment		19 Equity
	Professionals & 14		Investment
Investment Professionals
	Originators/Underwriters		Professionals

3 Additional Investment

Professionals

ArrowMark Partners' 44 Investment Professionals Average 18 Years' Experience and have a presence in Denver, London, New

York, and San Francisco

As of 3/31/2024 . (L) designates London-based team member.

ARROWMARK FINANCIAL CORP. (BANX)

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ArrowMark Financial Corp. (BANX)

Portfolio and Performance

Regulatory Capital Relief Overview

Financials

Key Personnel

ARROWMARK FINANCIAL CORP. (BANX)

BANX has produced a relatively stable and consistent NAV from a high-quality investment portfolio

BANX Relative Value: Net Asset Value ("NAV") Benchmarked Against Market Price

$30

$25

$20

$21.24

$15	$19.00
$10
$5

$-
12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017		12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023
							NAV			Market Price
Annual Total Returns (As of 3/31/2024)			1 Year				3 Year		5 Year		10 Year
BANX NAV				16.97%				9.76%		9.38%		8.31%
BANX Market Price			19.87%				8.92%		6.95%		6.26%
Bloomberg Aggregate1			1.70%				-2.46%		0.36%		1.54%
Bloomberg High Yield2			11.15%				2.19%		4.21%		4.44%

Data as of 3/31/2024. Past performance is no guarantee of future results. ArrowMark Financial Corp. commenced operations on November 13, 2013. Source: BNY, ArrowMark Financial Corp. NAV calculation includes management fee and all other expenses paid by the Fund. Dividends are reinvested in accordance with the Fund's Dividend Reinvestment Plan. Market Price calculation based on share market price and reinvestment of distributions at the price obtained under the Dividend Reinvestment Plan. Total return does not include sales load and offering expenses. 1Bloomberg U.S. Aggregate Bond Index ("Bloomberg Aggregate") (including interest income) covers the U.S. dollar-denominated,investment-grade,fixed-rate, taxable bond market of SEC-registered securities. The index includes bonds from the Treasury, government agency, corporate, plus mortgage- and asset-backed sectors.

2Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index ("Bloomberg High Yield") is an index that measures the performance of high yield, non-investment grade corporate bonds, with a maximum allocation of 2% to any one issuer.

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Historically provided relatively stable declared distribution

6 Years of Consistent Distributions1 (As of 1/1/2018 - 3/31/2024)

Distribution per share

$2.50

$2.00

$1.50

$1.00

$0.50

$-

$0.42

$0.10

	$0.14	$0.00	$0.05	$0.10	$0.10

$1.52	$1.52	$1.52	$1.52	$1.56	$1.68

									$0.45
2018	2019	2020	2021	2022	2023	2024 YTD
		Declared Distributions			Special Distributions		Long Term Capital Gain Distribution

Data as of 3/31/2024. Source: ArrowMark Financial Corp. 1Distributions from net investment income, if any, are declared and paid quarterly. Distributions, if any, of net short-term
capital gain and net capital gain (the excess of net long-term capital gain over the short-term capital loss) realized by the Fund, after deducting any available capital loss carryovers
are declared and paid to shareholders at least annually. Income distributions and capital gain distributions are determined in accordance with U.S. federal income tax regulations,
which may differ from U.S. GAAP. These differences include the treatment of non-taxable distributions, losses deferred due to wash sales and excise tax regulations. Permanent book
and tax basis differences relating to shareholder distributions will result in reclassifications within the components of net assets.	ARROWMARK FINANCIAL CORP. (BANX)	10