Net Asset Value and Investment Update

20 November 2014

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value 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").

As at 31 October 2014, the Company's unaudited, estimated NAV per share was 98.26 pence per share (ex-dividend).

Investment Update

As at 20 November 2014 the Board had approved £109.6 million of investments. Of this, a total of £41.6 million has been funded in full or partial payments against the £68.6 million of committed/documented investments.

The invested portfolio is 51.1% UK (Sterling) and 48.9% US (Dollar) and the approved investments (excluding amounts funded) are 57.4% Sterling, 29.9% US Dollar and 12.7% Euro.

The Company continues to be pleased by the diverse range of assets in the portfolio and pipeline. The Company expects to commence monthly dividends from January 2015 in line with the policy set out in the prospectus at the time of the initial public offering in July 2014.

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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.