I do a MMR build, so I was grinding out the missions to get the parts for the Nemesis. But tonight me and my co-op partner decided we'd see if we could get him the Pestilence and me the Nemesis as drops, since there's an area where targeted loot is MMR and another where it's the LMG. We worked a control point up to level 4 for the LMG, beat it, but no exotic drop. He was really disappointed, but as we walked to another CP in that segment of the map we ran into an elite and 3 purples roaming, took them out, and the Pestilence dropped for him. Then we did the same for a CP in the MMR area; again, no exotic drop. But we took out a supply convoy, and to my delight, I saw the exotic "color" in a drop, and sure enough, it was the Nemesis. So no need to grind for it.
So far the targeted loot areas have been pretty reliable for me for dropping exotics (got two pair of BTSU gloves last night.)
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