High efficiency furnace vent

Can a HE vent ever turn down like this and then out the wall?

Thanks in advance.

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I remember an HE boiler where the instructions indicated that the vent needed to slope to the exterior after rising up to between the floor joists in the basement one time.

What make and model is it? What do the manufacturer’s installation instructions say?

Additionally, the vent seems to exit the furnace cabinet quite low for what I see typically. Where was the combustion air venting?

I f that is the exhaust it needs to maintain 1/4" per foot slope back for condensate.
The air intake on many models is required to come from the outside as well (yes I see the window) though you would need to check the manual online.