12 September 2023

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 18 August 2023, 25 August 2023 and 6 September 2023, the Company intends to compulsorily redeem on a pro rata basis 3,640,656 NBDX shares at a price of $1.0314 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 25 September 2023. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 25 September 2023.

Following the redemption, the Company will have 15,382,770 NBDD, 44,234,790 NBDX and 27,821,698 NBDG Shares in issue. Therefore, the total number of voting rights in the Company is 87,439,258.

The new ISIN, GG00BR88RQ95 for the NBDX shares, in respect of the remaining shares which have not been redeemed will be enabled and available for transactions on 12 September 2023.

LEI: YRFO7WKOU3V511VFX790

For further information, please contact: