8 November 2024

NB Distressed Debt Investment Fund Limited

(the "Company")

Capital Distributions of $5.5 million for NBDX Shares and £1.5 million for NBDG Shares

The Board of NB Distressed Debt Investment Fund Limited (the "Company") is pleased to announce a $5.5 million capital distribution for the Extended Life ("NBDX") Share Class and £1.5 million capital distribution for the Global ("NBDG") Share Class.

NBDX

The Company has resolved to make a capital distribution totalling (before expenses) $5.5 million to NBDX shareholders (equivalent to approximately $0.1243 per NBDX share) by way of a compulsory partial redemption of NBDX shares at a price equal to $0.9980 per NBDX share (being the last published NAV per NBDX share prior to this announcement). The amount applied to the partial redemption of NBDX shares will be after the deduction of costs and expenses of this partial redemption, expected to be approximately $8,000.

NBDG

The Company has resolved to make a capital distribution totalling (before expenses) £1.5 million to NBDG shareholders (equivalent to approximately £0.0539 per NBDG share) by way of a compulsory partial redemption of NBDG shares at a price equal to £0.5535 per NBDG share (being the last published NAV per NBDG share prior to this announcement). The amount applied to the partial redemption of NBDG shares will be after the deduction of costs and expenses of this partial redemption, expected to be approximately £6,500.

Shareholder information

The redemption of the NBDX and NBDG shares (the "Redemption") will be effected pro rata to holdings of NBDX and NBDG shares respectively on the register at the close of business on 26 November 2024 (the "Redemption Date"), being the record date for the Redemptions. Approximately 12.44 per cent of the NBDX and 9.70% of the NBDG issued share capital will be redeemed on the Redemption Date. Fractions of shares produced by the Redemption ratio will not be redeemed and so the number of shares of the relevant class to be redeemed from each shareholder will be 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 10 December 2024. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 10 December 2024.

The Company has 44,234,790 NBDX shares and 27,821,698 NBDG shares in issue as at 8 November 2024. All of the NBDX and NBDG shares redeemed on the Redemption Date will be cancelled.

The shares will be disabled in CREST on the Redemption Date and the existing ISIN numbers, GG00BR88RQ95 for the NBDX shares and GG00BNTXRB08 for the NBDG shares (the "old ISINs") will expire. The new ISINs will be released shortly.

The new ISINs for the NBDX and NBDG shares (the "new ISINs") in respect of the remaining shares which have not been redeemed will be enabled and available for transactions after 26 November 2024. For the period up to and including the Redemption Date, shares will be traded under the old ISIN's and as such, a purchaser of such shares may have a market claim for a proportion of the redemption proceeds following the activation of the new ISINs. CREST will automatically transfer any open transactions as at the Redemption Date to the new ISINs.

LEI: YRFO7WKOU3V511VFX790

For further information, please contact:

Suntera (Guernsey) Limited

Company Secretary

Tel: +44 (0) 1481 700300

Email: NB.Distressed@suntera.com

U.S. Bank Global Fund Services (Guernsey) Limited

Administrator

Tel: +44 (0) 1481 723450

Jefferies International Limited

Financial Adviser and Corporate Broker

Tel: +44 (0)20 7029 8000

Neuberger Berman Europe Limited

Manager

Tel: +44 20 7355 7229

Neuberger Berman Investment Advisers LLC

Alternative Investment Fund Manager

Tel: +1 (312) 325-7700

KL Communications

Tel: +44 (0)20 3603 2803, nbdd@kl-communications.com

NB Distressed Debt Investment Fund Limited

The Company is a closed-ended investment company incorporated and registered in Guernsey on 20 April 2010 with registration number 51774. The Company is governed under the provisions of the Companies (Guernsey) Law, 2008 (as amended) (the "Law"), and the Registered Collective Investment Scheme Rules and Guidance 2021 issued by the Guernsey Financial Services Commission ("GFSC"). It is a non-cellular company limited by shares and has been declared by the GFSC to be a registered closed-ended collective investment scheme. The Company trades on the Specialist Fund Segment ("SFS") of the London Stock Exchange ("LSE"). The Company is a member of the Association of Investment Companies (the "AIC") and is classified within the Debt - Loans & Bonds Category