Directorate Change

For immediate release

4 December 2018

RANGER DIRECT LENDING FUND PLC (the "Company")

Appointment of director and disclosure in accordance with Listing Rule 9.6.13

The board is pleased to announce the appointment of Joe Kenary as a non-executive director of the Company with immediate effect. The directors of the Company are pleased to welcome Mr Kenary, who has extensive experience in the direct lending sector, to the board. A short biography for Mr Kenary is set out below.

Joe Kenary's biography

Mr Kenary graduated from Harvard College in 1986 and also holds an MBA from UCLA Anderson School of Management. He began his career in private equity investing and subsequently developed significant direct lending experience as the first employee of Capitalsource, Inc. a commercial finance business that evolved to become a publicly traded commercial bank with assets in excess of $10 billion. He was also a senior executive of Alliance Partners, a US based asset manager and commercial lender that specialised in the acquisition and management of commercial loans for community banks.

Mr Kenary has considerable experience in the US direct lending sector and the board considers that his expertise will be invaluable as the Company progresses with the realisation of its assets.

LR 9.6.13(1) disclosures

For the purposes of Listing Rule 9.6.13(1), Mr Kenary is currently a director of Ranger Direct Lending ZDP plc. He has not served as a director of any other publicly quoted companies during the last five years.

There is no other information which requires to be disclosed pursuant to Listing Rule 9.6.13 in respect of Mr Kenary.

For further information, please contact:

LEI: 549300VGZSKYQ7C2U221

END OF ANNOUNCEMENT