VOLTA FINANCE - NOVEMBER MONTHLY REPORT

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES

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Guernsey, 19 December 2014 - Volta Finance Limited (the "Company" or "Volta Finance" or "Volta") has published its monthly report. The full report is attached to this release and is available on Volta Finance Limited's financial website (www.voltafinance.com).

Gross Asset Value

	At 28.11.14	At 31.10.14
Gross Asset Value (GAV / € million)	290.2	285.4
GAV per share (€)	7.95	7.82

At the end of November 2014, the Gross Asset Value* (the "GAV") of Volta Finance Limited (the "Company", "Volta Finance" or "Volta") was €290.2 m or €7.95 per share, an increase of €0.13 per share from the end of October 2014.

This brings the performance for the first 11 months of 2014 to +12.1% including the April dividend payment.

It is worth noting that, at the date of publishing this report, Volta shares trade post dividend payment. A post-dividend-payment GAV would have been €7.65 per share (€30 cents dividend was paid the 9^th of December).

The November mark-to-market variations* of Volta's asset classes were: 0.0% for Synthetic Corporate Credit deals, -0.1% for CLO Equity tranches; +0.8% for CLO Debt tranches, +5.6% for Cash Corporate Credit deals and +0.7% for ABS. The positive performance of Volta in November is in line with the tightening of credit market spreads during the month. However it should be noticed that credit markets suffered during the first 3 weeks of December.

Volta's assets generated the equivalent of €1.9m cash flows in November 2014 (non-Euro amounts converted to Euro using end-of-month cross currency rates and excluding principal payments from debt assets) bringing the total cash generated during the last six months to €15.6m.

In November, Volta made two investments (a BB tranche of a new USD CLO and a European CLO Warehouse) for the equivalent of €11.5m (€7.125m was settled in relation with the new warehouse from a total commitment of €19m). Under standard assumptions the CLO debt tranche is expected to have an IRR close to 9%, the warehouse is expected to have an IRR between 13 and 17%. During the month, Volta sold 4 debt tranches of CLO (2 in USD, 2 in Euro) for the equivalent of €12.8m. These asset were sold with projected IRR near to 4%.