Sierra Income Corporation Decrease in Public Offering Price

NEW YORK, NY (May 10, 2018) – A committee of the board of directors (the “Board”) of Sierra Income Corporation (“SIC”) has approved a decrease in its public offering price from $8.15 per share to $8.00 per share.

The decrease in SIC’s public offering price is effective as of SIC’s May 11, 2018 closing and first applied to subscriptions received from April 6, 2018 through May 10, 2018. The change in offering price reflects the updated NAV per share.

If SIC continues to experience underlying portfolio fluctuations, the Board may further increase or decrease the per share offering price of its shares of common stock for its future weekly closings, pursuant to SIC’s pricing policy included in its prospectus which requires a price update if NAV per share fluctuates more than 2.5% from net offering price per share. SIC has not yet determined that a further adjustment to the newly-established offering price of $8.00 per share will be necessary. In the event SIC determines to adjust its public offering price, a separate announcement will be issued.

About Sierra Income Corporation

Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between $50 million and $1 billion. Sierra’s investment objective is to generate current income, and to a lesser extent, long-term capital appreciation. Sierra is externally managed by SIC Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. For additional information, please visit Sierra Income Corporation at www.sierraincomecorp.com.

About SIC Advisors LLC

SIC Advisors LLC is an affiliate of Medley Management Inc. (NYSE: MDLY, “Medley”). Medley is an alternative asset management firm offering yield solutions to retail and institutional investors. Medley’s national direct origination franchise, with over 75 people, is a premier provider of capital to the middle market in the U.S. Medley has over $5 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE: MCC) (TASE: MCC) and Sierra Income Corporation, a credit interval fund, Sierra Total Return Fund (NASDAQ: SRNTX) and several private investment vehicles. Over the past 15 years, we have provided capital to over 400 companies across 35 industries in North America1. For additional information, please visit Medley Management Inc. at www.mdly.com.

Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the New York Stock Exchange under the symbols (NYSE:MDLX) and (NYSE:MDLQ). Medley Capital Corporation is dual-listed on the New York Stock Exchange (NYSE:MCC) and the Tel Aviv Stock Exchange (TASE: MCC) and has outstanding bonds which trade on both the New York Stock Exchange under the symbols (NYSE:MCV), (NYSE:MCX) and the Tel Aviv Stock Exchange under the symbol (TASE: MCC.B1).

Click here to see a copy of Sierra Income Corporation’s Risk Factors.

1  Medley Management Inc. is the parent company of Medley LLC and several registered investment advisors (collectively,”Medley”). Assets under management refers to assets of our funds, which represents the sum of the net asset value of such funds, the drawn and undrawn debt (at the fund level, including amounts subject to restrictions) and uncalled committed capital (including commitments to funds that have yet to commence their investment periods). Assets under management are as of December 31, 2017.

This is a speculative security and as such, involves a degree of high risk.

This is not an offer or a solicitation of an offer to buy the securities described herein. Such an offer can be made only by means of a prospectus. Click here to obtain a prospectus. Investment performance is not guaranteed. This is a speculative security and as such, involves a high degree of risk. Securities distributed through SC Distributors, LLC, affiliated dealer manager and Member FINRA and SIPC.