Monthly NAV, Dividend and Investment Update

21 May 2015

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value, Dividend and Investment Update

Net Asset Value

SQN Asset Finance Income Fund Limited (the "Company"), the only diversified equipment leasing fund listed in the UK, is pleased to provide its monthly net asset value ("NAV") update.

As at 30 April 2015, the Company's unaudited, estimated NAV was 98.97 pence per share (cum-income). This includes the 0.42 pence per share dividend announced on 23 April 2015 that went ex-dividend on 30 April 2015 and was paid on 21 May 2015. On a pro-forma basis, the unaudited estimated NAV, adjusted for the payment of this dividend, is 98.55 pence per share.

Dividend

The Company is pleased to announce a dividend of 0.48 pence per share for the month ended 30 April 2015. The dividend will be payable on 18 June 2015 to holders of ordinary shares on the register on 5 June 2015. The ex-dividend date is 4 June 2015.

Investment Update

The total amount funded by the Company is approximately £112m including committed transactions that are due to fund by month end. The balance of the net IPO proceeds is expected to be funded over the coming months.

The portfolio remains diversified over more than 10 different asset classes with that balance expected to be maintained as the pipeline draws down. The Company has 33% of net assets in US dollar denominated investments, 9% in Euro denominated investments, with the balance of 58%, including un-invested cash, in Sterling. As the portfolio develops, it is expected that the dollar and euro positions will increase, however we will continue to hedge these positions, where appropriate.

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Notes to Editor

The Company invests in equipment lease and asset finance arrangements across a diverse portfolio of assets and industries predominantly in the UK and US. The Company focuses on business-essential, revenue-producing (or cost saving) equipment and other assets with high in-place value and long economic life relative to the investment term.

The Company's Investment Manager is SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission. The principals responsible for managing the portfolio are Jeremiah Silkowski and Neil Roberts.