Monthly NAV and Dividend

21 September 2016

SQN Asset Finance Income Fund Limited

Monthly Net Asset Value and Dividend

Net Asset Values

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.

Ordinary Shares

As at 31 August 2016, 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 18 August 2016 that went ex-dividend on 1 September 2016 and was paid on 19 September 2016. 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.

'C' Shares

As at 31 August 2016, the unaudited estimated NAV per 'C' Share (cum-income) was 98.54 pence. This includes the 0.4167 pence per 'C' share dividend announced on 18 August 2016 that went ex-dividend on 1 September 2016 and was paid on 19 September 2016. 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 98.12 pence.

Dividends

Ordinary Shares

The Company is pleased to announce a dividend of 0.6042 pence per ordinary share for the month ended 31 August 2016. The dividend will be payable on 24 October 2016 to holders of ordinary shares on the register on 7 October 2016. The ex-dividend date is 6 October 2016.

'C' Shares

The Board also is also pleased to announce a dividend on the 'C' Shares of 0.4861 pence (5.83% annualised) per 'C' share for the month ended 31 August 2016. This dividend will be payable on 24 October 2016 to holders of 'C' shares on the register on 7 October 2016. The ex-dividend date is 6 October 2016.

'C' Share Investment Update

The Manager believes that the majority of 'C' share net proceeds will be drawn by 30 September 2016 and expects the 'C' shares to convert shortly thereafter. The Manager continues to see a strong pipeline of opportunities and the Company is therefore, as previously indicated, considering raising additional capital later this year, subject to investor demand.

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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.