Transaction in Own Shares

03 July 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 2020 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 48 pence per New Global Share, to be cancelled, on 02 July 2020. The Company also repurchased 50,000 Extended Life Shares at a price of $0.46 per Extended Life Share, to be cancelled, on 02 July 2020. This represents approximately 0.0583 per cent of the Company's current issued New Global Shares and approximately 0.0606 per cent of the Company's current issued Extended Life Shares.

Following this transaction, the Company has 42,879,950 New Global Shares in issue and 82,395,074 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 140,657,794 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