Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 April 2017

its ten largest investments were as follows:

% of  Total Assets

Sberbank	10.34
Lukoil	7.86
PZU	6.36
Garanti Bank	4.50
Novatek	3.95
Magnit	3.77
Tatneft Pao	3.59
Alrosa	3.12
Gazprom	3.09
LSR	2.99

The geographic breakdown at close of business 30 April 2017 was as follows:

Russia	62.94
Turkey	13.28
Poland	13.11
Romania	4.59
Hungary	3.43
Czech rep	3.12
Greece	2.85
Other European	2.71
Cash & Equivalents	-6.03