VOLTA FINANCE - MAY MONTHLY REPORT



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



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Guernsey, 22 June 2015 - 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 29.05.15 At 30.04.15
Gross Asset Value (GAV / € million) 332.0 330.3
Liabilities (€ million) 30.4 33.4
Estimated NAV (€ million) 301.6 296.9
Estimated NAV per share (€) 8.26 8.13

PERFORMANCE
At the end of May 2015, the Estimated NAV of Volta Finance Limited (the "Company", "Volta Finance" or "Volta") was €301.6m or €8.26 per share, an increase of €0.13 per share since the end of April 2015. The monthly performance was 1.6%.

The YTD performance for 2015, accounting for dividends paid, stands at +11.7% as at the end of May.

Because the Company has, for few months now, some leverage at a Company level, the Company is reporting a Gross Asset Value ("GAV") and an Estimated Net Asset Value ("NAV") on a monthly basis (with an audited Net Asset Value for 31st July and 31st January): The GAV stood at €332.0m at the end of May.

MARKET REVIEW AND PORTFOLIO ACTIVITY

Credit markets were broadly stable in May, although some modest spread widening was seen towards the end of the month. Consistent with this limited market backdrop, all of Volta's asset classes generated positive performance for the month. The May mark-to-market variations* of Volta's asset classes were: +0.7% for Synthetic Corporate Credit deals, +1.0% for CLO Equity tranches; +1.0% for CLO Debt tranches, +0.2% for Cash Corporate Credit deals and +0.9% for ABS. Currency markets were also calmer after the volatility in USD/EUR seen earlier in the year. The modest appreciation of the USD against the Euro also added to returns for the month. As at the end of May, Volta's exposure to USD represented 38.7% of the Estimated NAV.

In May, Volta did not undertake any sales or purchases. €3m from a prior commitment was drawn down, being the final amount in respect of the Company's investment in a fund dedicated to Bank Balance Sheet Transactions.

At the end of May, Volta held €20.4m in cash, excluding an amount of €2.5m which is pledged as margin under its currency hedging facilities. €7.1m of this was in respect of a purchase made at the end of April, as yet to be settled in June. Post settlement cash available stands at €13m.

Volta received the equivalent of €1.5m of interest and coupons in May 2015 (non-Euro amounts translated to Euro using end-of-month cross currency rates) bringing the total cash amount received in terms of interest and coupons during the last six months to €17.2m.

In May 2015, no particular event materially impacted any of Volta's assets.

We continue to see opportunities in several structured credit sectors including mezzanine or equity tranches of CLOs, RMBS tranches as well as tranches of Cash or Synthetic Corporate Credit portfolios.

LONDON STOCK EXCHANGE LISTING

As previously announced, the Company's shares were admitted to trading on the Main Market of the London Stock Exchange on the 29th May. This listing, which is expected to increase, over time, the liquidity of Volta's shares has been well received, considering the positive market reaction that has occurred to date following the London listing.

* "Mark-to-market variation" is calculated as the Dietz-performance of the assets in each bucket, taking into account the Mark-to-Market of the assets at month-end, payments received from the assets over the period, and ignoring changes in cross currency rates Nevertheless, some residual currency effects could impact the aggregate value of the portfolio when aggregating each bucket.

(Full monthly report in attachment or on www.voltafinance.com)

Guernsey, 22 June 2015
Volta Finance Limited (the "Company" or "Volta") hereby announces the conversion of 40,478 Class C shares held by Volta's investment manager, AXA IM Paris, into ordinary shares. Such Class C shares, which are non-voting shares, are convertible into ordinary shares, which are voting shares, by AXA IM Paris on sale to a third party.

As at the date of this announcement, the issued voting share capital of the Company is comprised of 35,960,864 ordinary shares of no par value and 1 Class B share of no par value. There are no ordinary shares held in treasury. The ordinary shares and the Class B share each bear 1 vote per share.

After the conversion of 40,478 Class C shares into ordinary shares (expected to occur on 24 June 2015), the total number of voting rights in the Company will be 36,001,343 and may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules of the AFM.