Portfolio Update

Baring Emerging Europe PLC announces that at close of business 31 July 2018 its ten largest investments were as follows:                                

	% of  Total Assets
Lukoil	11.94
Sberbank	9.98
Novatek	7.48
Tatneft Pao	5.10
PZU	4.40
Powszechna Kasa Oszczednosci Bank	3.62
X5 Retail Group	3.61
Mail.ru	3.30
OTP Bank	3.24
Garanti Bank	3.24

The geographic breakdown at close of business 31 July 2018 was as follows:
 

Russia	63.00
Poland	18.75
Turkey	8.95
Hungary	3.24
Romania	4.00
Greece	2.82
Other European	2.05
Czech rep	1.62
Kuwait	1.83
Cash & Equivalents	-6.26