Drawbridge Special Opportunities Fund LP and Drawbridge Special Opportunities Finance Corporation (together, the “Co-Issuers”) announced today the results of their previously announced cash tender offer (the “Tender Offer”) for any and all of their outstanding $324.6 million aggregate principal amount of 5.00% Senior Notes due 2021 (the “2021 Notes”), which expired as of 5:00 p.m. (New York City time) on January 25, 2021 (the “Expiration Time”). As of the Expiration Time, a total of $312,701,000 principal amount of the 2021 Notes had been validly tendered in the Tender Offer. The Co-Issuers have accepted for purchase all of the 2021 Notes that were tendered and paid the Tender Offer Consideration (as defined below) (plus accrued interest) and settled the Tender Offer (other than with respect to the guaranteed delivery procedures) on January 26, 2021 (the “Settlement Date”).

In accordance with the terms of the Tender Offer, the Co-Issuers offered to make a cash payment to all holders who validly tendered their 2021 Notes in the Tender Offer of $1,022.55 per $1,000 principal amount of 2021 Notes tendered (the “Tender Offer Consideration”), plus accrued interest thereon to, but not including, the Settlement Date. With respect to 2021 Notes accepted for purchase that were tendered and are subsequently delivered in accordance with the guaranteed delivery procedures such tendering holders will receive payment of the Tender Offer Consideration for such accepted 2021 Notes on January 28, 2021, plus accrued interest thereon to, but not including, the Settlement Date. The Co-Issuers are funding the payment for tendered and accepted 2021 Notes with a portion of the net proceeds from a concurrent debt financing transaction.

The Co-Issuers expect to issue today a notice of redemption with respect to any remaining 2021 Notes not validly tendered on or before the Expiration Time in accordance with the terms and conditions set forth in the related indenture governing the 2021 Notes.

The Co-Issuers have engaged Wells Fargo Securities, LLC as Dealer Manager for the Tender Offer. Copies of the Offer to Purchase and Notice of Guaranteed Delivery for the Tender Offer are available at https://www.gbsc-usa.com/drawbridge/ and may be obtained from Global Bondholder Services Corporation, the Tender Agent and Information Agent, by e-mail to contact@gbsc-usa.com or by phone at 212-430-3774 (Banks and Brokers) or 866-470-4500 (Toll-Free). Please direct questions regarding the Tender Offer to Wells Fargo Securities, LLC by phone at (866) 309-6316 or (704) 410-4756 or by e-mail to liabilitymanagement@wellsfargo.com.

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities mentioned in this press release in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is not a redemption notice for the 2021 Notes.

About the Co-Issuers

Drawbridge Special Opportunities Fund LP, a Delaware limited partnership organized in May 2002 (the “Fund”), is a private investment partnership focused on making highly diversified investments in both private and public credit primarily throughout the United States and Western Europe, but also in Australia, Asia and elsewhere on an opportunistic basis.

The Fund’s investment manager and general partner are affiliates of Fortress Investment Group LLC, which is a leading global investment management firm with $49.9 billion in assets under management as of September 30, 2020.

Drawbridge Special Opportunities Finance Corporation is a wholly-owned subsidiary of the Fund and was formed to serve as co-issuer of the notes of the Fund.

Forward-Looking Statements

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