If you did it in the absence of gravity, they would have the same kinetic energy. You would also have trouble defining the term horizontal.
If you do your experiment on Earth the problem is different.
Initially, at the exact moment you throw the two balls, they would have the same kinetic energy.
But after any time has passed, the ball 45 degrees above the horizon will be loosing kinetic energy and gaining gravitational potential energy (calculated with mass*gravity*height in a homogeneous - the same everywhere - gravitational field).
The other ball would gain kinetic energy and loose potential energy.
I hope this helps.