Capital Distribution Update

30 June 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 16 June 2023, the Company has compulsorily redeemed on a pro rata basis 3,753,056 NBDX shares at a price of $0.8934 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 13 July 2023. Any certificates currently in circulation will be superseded by a new certificate which will be distributed to shareholders by 12 July 2023.

Following the redemption, the Company has 15,382,770 NBDD, 47,875,446 NBDX and 27,821,698 NBDG Shares in issue. Therefore, the total number of voting rights in the Company is 91,079,914.

The new ISIN, GG00BRZRVJ00 for the NBDX shares, in respect of the remaining shares which have not been redeemed has been enabled and is available for transactions on 30 June 2023.

LEI: YRFO7WKOU3V511VFX790

For further information, please contact: