Capital Distribution Update

26 November 2019

NB Distressed Debt Investment Fund Limited

Capital Distribution Update

NB Distressed Debt Investment Fund Limited (the "Company") announces that, in connection with the capital distribution for the Extended Life ("NBDX") Share Class announced on 12 November 2019, the Company has compulsorily redeemed on a pro rata basis 11,460,349 NBDX shares at a price of $0.9155 per NBDX share for cancellation. Fractions of shares produced by the applicable redemption ratios have not been redeemed and therefore the number of shares redeemed in respect of each shareholder has been rounded down to the nearest whole number of shares.

Payments of redemption monies are expected to be effected either through CREST (in the case of shares held in uncertificated form) or by cheque (in the case of shares held in certificated form) by 5 December 2019. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 5 December 2019.

Following the redemption, the Company has 71,947,915 NBDG, 114,446,794 NBDX and 15,382,770 NBDD Shares in issue. Therefore, the total number of voting rights in the Company is 201,777,479.

The new ISIN number GG00BKP4Y710 for the NBDX shares in respect of the remaining shares which have not been redeemed has been enabled and is available for transactions after 25 November 2019.

LEI: YRFO7WKOU3V511VFX790

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