13 December 2021

Sequoia Economic Infrastructure Income Fund Limited

(the "Company")

Appointment of Non-Executive Directors

The Board of Sequoia Economic Infrastructure Income Fund Limited is pleased to announce the appointments of Timothy (Tim) Drayson and James Stewart as non-executive directors of the Company effective from 1 January 2022.

James' and Tim's appointments to the Board follow on from the appointment of Sarika Patel as a non executive director at the AGM in August this year.  It means that for a period of time the Board will consist of seven non-executive directors. It is the intention to operate a slightly larger Board during a transition period to allow time for the new directors to familiarise themselves with the Company.

It is anticipated that two of the original four directors will retire from the Board during 2022, each after seven years of service. Going forward thereafter, given the growth of the Company's portfolio since launch, it is the view of the Board that the Company would benefit from operating with a five to six person Board.

Further detail on Tim and James is provided below. 

Tim Drayson

Tim has over 30 years' experience in the US and European debt capital markets. He was most recently Global Head of Corporate Sales & Deputy Head of the European Corporate Debt Platform at BNP Paribas and had been a member of the Fixed Income Transaction Approval Committee, screening complex transactions and interacting with the bank's credit committee. He joined BNP Paribas as Global Head of Securitization in 2005, with responsibility for managing all origination and structuring teams, including infrastructure. Prior to joining BNP Paribas, Tim held senior roles at Morgan Stanley in London as Head of Securitized Products Distribution and Paine Webber in New York.

Tim has served as an independent consultant to the Company since 30 January 2018 and has provided guidance to the Board on the overall approach to risk management across the Company's portfolio.

James Stewart

James is a resident of the United Kingdom and brings a wealth of leadership, international and infrastructure experience across both the public and private sectors. Between 2011 and 2021, James held several senior level positions in KPMG in the UK, including as a non-executive member of the KPMG LLP Board, chair of the Audit Board and chair of KPMG's Global Infrastructure practice. For the past three years, as Vice-Chair of KPMG LLP, James was responsible for KPMG's engagement on Brexit and the UK Government's growth agenda, including the Industrial Strategy. Prior to this, James was Chief Executive of Infrastructure UK, based in the Treasury and responsible for supporting major infrastructure projects and programmes in the UK, and Chief Executive of Partnerships UK, responsible for assisting in the development and implementation of the Public Private Partnership program in the UK. James's earlier experience include 16 years' in investment banking and leading a global team involved in lending, investing equity and advising on infrastructure projects. James is currently a Trustee of the Shaw Trust and Chair and Trustee of Power for the People. James is a fellow of the Institute of Civil Engineers.

Robert Jennings, Chairman, said:

"Throughout this year we have been planning the succession to the Board that has been in place since our IPO in 2015. We were delighted to attract several impressive and well qualified candidates and there was strong competition for these roles. James, Sarika and Tim collectively give us an exceptional range of talent and experience and their appointments lay the foundation for a very strong successor Board. Under the current Board the Company has established its reputation as a leading investor in economic infrastructure debt and has achieved impressive portfolio growth, a pattern that we anticipate will continue over the years to come. Making these appointments now before members of the current Board step down will facilitate an orderly and successful generational transition."

No further disclosures are required for James Stewart in respect of paragraphs 9.6.13 of the Financial Conduct Authority's Listing Rules.

No further disclosures are required for Tim Drayson in respect of paragraphs 9.6.13 of the Financial Conduct Authority's Listing Rules.

For further information please contact:

About Sequoia Economic Infrastructure Income Fund Limited

The Company is a Guernsey registered closed-ended investment company that seeks to provide investors with regular, sustained, long-term distributions and capital appreciation from a diversified portfolio of senior and subordinated economic infrastructure debt investments. The Company is advised by Sequoia Investment Management Company Limited.

LEI: 2138006OW12FQHJ6PX91