25 April 2017

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value and Dividend

Net Asset Value

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

As at 31 March 2017, the unaudited estimated NAV per ordinary share (cum-income) was 99.62 pence. This includes the 0.6042 pence per ordinary share dividend announced on 21 March 2017 that went ex-dividend on 6 April 2017 and was paid on 20 April 2017. On a pro-forma basis, the unaudited estimated NAV per ordinary share, adjusted for the payment of this dividend to holders of ordinary shares, is 99.02 pence. Further to the announcement on 19 April 2017, the Company has not impaired its US solar cell manufacturing investment, however, the manager and the Board will continue to monitor the situation closely and review the need for any impairment as the trade case progresses.

As at 31 March 2017, the unaudited estimated NAV per C share was 98.07 pence.

Dividend

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 31 March 2017, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 23 May 2017 to holders of ordinary shares on the register on 5 May 2017. The ex-dividend date is 4 May 2017.

The Board also has pleasure in declaring the maiden interim dividend on the C shares of 0.2 pence per C share for the period from admission to 31 March 2017.  The dividend will be payable on 23 May 2017 to holders of C shares on the register on 5 May 2017. The ex-dividend date is 4 May 2017.

C Share Investment Update

The Company is pleased by the level of investment, being ahead of the prior C share issue and on target to meet the expected timeline for full deployment of 9 to 12 months from admission.

The Company has made investments totalling £42.0 million, including amounts expected to be drawn prior to 30 April 2017, equivalent to approximately 24% of the net proceeds of the C share issue. In addition, the Company has a further £34.7 million of approved investments and a further pipeline of £77.9 million.

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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, Northern Europe 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 Managers are SQN Capital Management, LLC, a Registered Investment Advisor with the United States Securities and Exchange Commission and its subsidiary, SQN Capital Management (UK) Limited. The principals responsible for managing the portfolio are Jeremiah Silkowski and Neil Roberts.