Sierra Income Corporation

Memorandum Opinion in FrontFour Capital Group LLC and FrontFour Master Fund Ltd., of the Cayman Islands, on behalf of themselves and similarly situated stockholders of Medley Capital Corporation, v. Brook Taube, Seth Taube, Jeff Tonkel, Mark Lerdal, Karin Hirtler-Garvey, John Mack, Arthur Ainsberg, Medley Management Inc., Sierra Income Corporation, Medley Capital Corporation, MCC Advisors LLC, Medley Group LLC, and Medley LLC at the Court of Chancery of the State of Delaware.

Complaint in Medley Capital Corporation v. FrontFour Capital Group LLC, FrontFour Master Fund Ltd., of the Cayman Islands; FrontFour Capital Corporation, of Canada; FrontFour Opportunity Fund, of Canada; HFR Asset Management LLC, investment advisor to HFR ED FrontFour Master Trust, of Bermuda; David Lorber, Stephen Loukas, Zachary George, Moab Capital Partners LLC, and NexPoint Advisors LP at the U. S. District Court for the Southern District of New York.