Director/PDMR Shareholding

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Christopher Spencer

2

Reason for the notification

a)

Position/status

Director

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

SQN Asset Finance Income Fund Limited

b)

LEI

2138007S3YRY3IUU4W39

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

C Shares

ISIN : GG00BYNJG147

b)

Nature of the transaction

Acquisition of C shares through Placing, Open Offer and Offer for Subscription

c)

Price(s) and volume(s)

d)

Aggregated information

- Aggregated volume

- Price

4982

4982

£4982

e)

Date of the transaction

12 December 2016

f)

Place of the transaction

London