IFRS Implementation

27 February 2018

Ranger Direct Lending Fund PLC

(The "Company")

IFRS IMPLEMENTATION FOR RANGER DIRECT LENDING FUND PLC

IFRS 9 requires companies to make provisions based on future expected losses across their entire loan portfolio. Given the methodology the Company has applied in the past when interpreting IAS 39, the preliminary calculations as performed and reviewed by the Investment Manager and Fund Administrator implementing the new IFRS 9 standards show that any impact of the new standard will be immaterial for the Company. It should be noted that all IFRS 9 calculations will not be deemed final until completion of the 31 December 2017 audit.

For further information about this announcement contact:

LEI: 549300VGZSKYQ7C2U221

END OF ANNOUNCEMENT