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#803, 5920 Macleod Trail SW

Calgary, AB T2H 0K2

Tel: 587.887.1538

Equicapita Income Trust Acquires Levys Machine Works
Equicapita Income Trust (Equicapita, the Fund) is pleased to announce the acquisition of 100% of the
shares of Levys Machine Works (Levys) by an affiliate of the Fund. Based in Calgary, Alberta Levys is
a custom design and speciality manufacturing company. Founded in 1980, Levys has been servicing a
diverse customer base in the energy, electronics, medical, agriculture, aviation and instrumentation
sectors for over 30 years. Its tradition of strong customer service has led to lasting relationships, stable
revenue and a very predictable earnings stream, making Levys an ideal fit with the Equicapita business

Stephen Johnston, one of the co-founders of Equicapita stated We are very pleased with the Levys
acquisition and particularly pleased that the Levys shareholders have shown their support and belief in
the EquiCapita model by taking a significant portion of the deal consideration as Preferred Trust Units in
the fund.

The Levys transaction closed on May 7th, 2014 - Equicapita retained Ernst & Young and Burstall Winger
Zammit as advisors. Ernst & Young provided accounting and financial due diligence support and Burstall
provided legal due diligence and structuring support.

Equicapita is a private equity buyout fund based in Calgary, Alberta. The fund is focused on acquiring
private, western Canadian businesses with enterprise values ranging from $5 million to $20 million. The
fund is an RRSP eligible investment vehicle that streams the cash flow from private operating companies
to its investors on a priority basis.

This news release may contain certain information that is forward looking and, by its nature, such forward-
looking information is subject to important risks and uncertainties. The words "anticipate," "expect," "may,"
"should" "estimate," "project," "outlook," "forecast" or other similar words are used to identify such forward
looking information. Those forward-looking statements herein made by Equicapita, if any, reflect
Equicapita's beliefs and assumptions based on information available at the time the statements were
made. Actual results or events may differ from those anticipated or predicted in these forward-looking
statements, and the differences may be material. Factors which could cause actual results or events to
differ materially from current expectations include, among other things: risks associated with the
ownership and operation of businesses, including fluctuations in interest rates; general economic
conditions; supply and demand for businesses; competition for available businesses; changes in
legislation and the regulatory environment; and international trade and global political conditions. Readers
are cautioned not to place undue reliance on any forward-looking information contained in this news
release (if any), which is given as of the date it is expressed herein. Equicapita undertakes no obligation
to update publicly or revise any forward-looking information, whether as a result of new information, future
events or otherwise.