Transaction in Own Shares

23 January 2020

NB Distressed Debt Investment Fund Limited

(the "Company")

Transaction in Own Shares

The Company announces that pursuant to the general authority granted by shareholders of the Company on 25 June 2019 to make market purchases of its own New Global ordinary share capital ("New Global Shares") and of its own Extended Life ordinary share capital ("Extended Life Shares"), it repurchased 25,000 New Global Shares at a price of 69.8 pence per New Global Share, to be cancelled, on 22 January 2020. This represents approximately 0.0349 per cent of the Company's current issued New Global Shares.

Following this transaction, the Company has 71,702,915 New Global Shares in issue and 114,076,794 Extended Life Shares in issue. The Company also has 15,382,770 Ordinary Shares in issue. All shares have 1 vote per share.

For reporting purposes under the FCA's Disclosure Guidance and Transparency Rules the market should use the figure of 201,162,479 total voting rights when determining if they are required to notify their interest in, or a change to their interest in the Company.

Enquiries:

Carey

Sara Bourne

Tel: +44 (0) 1481 737 245