Dividend Declaration

Ranger Direct Lending Fund plc (the "Company")

Interim Dividend

The Directors of the Company declare an interim dividend of 26.93 pence per ordinary share (USD equivalent 34.33 cents per ordinary share) for the three month period to 31 March 2017.

The dividend will be paid on 28 July 2017 to shareholders on the register as of 30 June 2017. The ex-dividend date is 29 June 2017.

The Company has elected to designate all of the interim dividend for the period 31 March 2017 as an interest distribution to its shareholders. In doing so the Company is taking advantage of UK tax treatment by "streaming" income from interest-bearing investments into dividends that will be taxed in the hands of shareholders as interest income.

Following changes to the withholding tax rules which took effect from 6 April 2017, interest distributions from the Company are no longer subject to withholding on account of income tax. The interim dividend will therefore be paid gross to shareholders.

The last date for elections for the Dividend Reinvestment Plan is 30 June 2017.

For further information about this announcement contact:

Capita Company Secretarial Services Limited

Secretary

Tel: +44 (0)20 7954 9531

16 June 2017

Investor information

Further up to date information, including Net Asset Values and the latest available monthly newsletter and portfolio information, is provided on the Company's website, which can be accessed via http://www.rangerdirectlending.uk/.

END OF ANNOUNCEMENT