Portfolio Update

Baring Emerging Europe PLC announces that at close of business 30 August 2019 its ten largest investments were as follows:                                

                                                                        % of  Total Assets

Gazprom	10.24
Sberbank	10.16
Lukoil	8.05
Novatek	7.10
X5 Retail Group	5.30
PZU	4.30
Polyus	3.02
Mobile Telesystems	2.99
KGHM Polska	2.93
Mail.ru	2.87

The geographic breakdown at close of business 30 August 2019 was as follows:

Russia	65.97
Poland	16.33
Turkey	10.57
Greece	3.27
Romania	2.69
Czech	2.66
Hungary	2.29
Kuwait	0.86
Other European	0.21
Cash & Equivalents	-4.85