Portfolio Update

Baring Emerging Europe PLC announces that at close of business 29 March 2019 its ten largest investments were as follows:

% of  Total Assets

Lukoil	10.89
Sberbank	9.58
Novatek	8.19
Gazprom	6.82
PZU	4.92
KGHM Polska Miedz	4.21
X5 Retail Group	4.12
Mail Ru Group	3.22
Yandex	2.98
Santander Bank Polska SA	2.88

The geographic breakdown at close of business 29 March 2019 was as follows:

Russia	61.07
Poland	21.23
Turkey	11.00
Hungary	3.60
Romania	1.80
Greece	2.10
Czech	2.56
Kuwait	0.89
Other European	1.26
Cash & Equivalents	-5.51