Corporate Update

Ranger Direct Lending Fund PLC

(the "Company")

Corporate Update

The Company will be conducting investor meetings in the week beginning September 19th.

The Company announced last month that July marked the sixth consecutive month of achieving its investment target returns (70-80 bps per month unlevered). The Company's returns have also outperformed the Liberum AltFi Index by 104 bps over the 3 months to July 2016.

The Company is pleased to announce that the proceeds of August's successful ZDP offering are expected to be fully deployed during September. The performance of the Company's portfolio in August was in line with recent months when excluding the impact of the expenses associated with the ZDP offering. The Company expects a return to previous levels of investor returns for the month of September.

The Company continues to see growth and investment opportunities amongst its existing platforms and those in its due diligence pipeline. The Company has several platforms in the due diligence phase, the most advanced of which are two established lending businesses in secured medical lending and SME lending, respectively. In aggregate, the Company believes that there is substantial available deployment capacity amongst existing and new potential platforms for investments with net returns in line with its targets.

This document is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results.

For further information, please contact:

Capita Company Secretarial Services Limited +44 (0)20 7954 9531

Secretary

Ranger Capital Group

Bill Kassul via Redleaf PR 

Scott Canon

Liberum +44 (0)20 3100 2000

Simon Atkinson

Joshua Hughes

Media enquiries [email protected]

Redleaf Communications + 44 (0)20 7382 4731

Rebecca Sanders-Hewett

David Ison

Sam Modlin