Monthly NAV, Dividend and Investment Update

21 December 2017

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 leading diversified equipment leasing fund listed in the UK, is pleased to provide its monthly net asset value ("NAV") update.

As at 30 November 2017, the unaudited estimated NAV per ordinary share (cum-income) was 99.28 pence. This includes the 0.6042 pence per ordinary share dividend announced on 21 November 2017 that went ex-dividend on 7 December 2017 and was paid on 19 December 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 98.68 pence.

As at 30 November 2017, the unaudited estimated NAV per C share (cum-income) was 97.89 pence.  This includes the 0.1667 pence per C share dividend announced on 21 November 2017 that went ex-dividend on 7 December 2017 and was paid on 19 December 2017. On a pro-forma basis, the unaudited estimated NAV per C share, adjusted for the payment of this dividend to holders of C shares, is 97.72 pence.

Dividends

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 30 November 2017, reflecting an annualised dividend of 7.25 pence per share. The dividend will be payable on 23 January 2018 to holders of ordinary shares on the register on 5 January 2018. The ex-dividend date is 4 January 2018.

The Company is also pleased to announce a dividend on the C share of 0.1667 pence per C share for the month ended 30 November 2017. The dividend will be payable on 23 January 2018 to holders of C shares on the register on 5 January 2018. The ex-dividend date is 4 January 2018.

Investment Updates

Ordinary Shares

Within the ordinary share portfolio, progress continues on the Snoozebox and Suniva investments with resolutions expected in the near future. With regard to the Suniva investment, all parties continue to work toward the 12 January 2018 decision date though a direct request by an agency of the White House has the potential to extend the final decision date to 26 January 2018. The Manager remains confident in a successful outcome for the Company's investment and is encouraged by the increasingly strong public support for aggressive trade policies voiced by the White House in recent weeks.

C Shares

Within the C share portfolio, significant progress has been made in the last month with £59 million of the £149 million reported pipeline of deals now approved. Active discussions with prospective customers are progressing with formal offers expected to become commitments in the New Year.

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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.