Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 30 June 2015 and unaudited.

Performance at month end with net income reinvested

One

Three

Six

One

Three

Five

Month

Months

Months

Year

Years

Years

Net asset value

-8.8%

-7.0%

-9.6%

-27.4%

-20.2%

-11.8%

Share price

-8.9%

-5.9%

-7.9%

-26.1%

-19.5%

-11.2%

Sources: Datastream, BlackRock

At month end

Net asset value – capital only:

76.36p

Net asset value cum income*:

76.70p

Share price:

79.50p

Premium to NAV (cum income):

3.7%

Net yield:

7.5%

Gearing - cum income:

0.3%

Total assets^^:

£84.7m

Ordinary shares in issue***:

110,418,000

Gearing range (as a % of net assets):

0-20%

Ongoing charges**:

1.5%

* Includes net revenue of 0.34p. ^^ Includes current year revenue. ** Calculated as a percentage of average net assets and using expenses, excluding any interest costs and excluding taxation for the year ended 30 November 2014. ***The number of ordinary shares in issue has subsequently increased to 113,068,000.

Sector Analysis

% Total Assets

Country Analysis

% Total Assets

Integrated Oil

32.5

Global

43.1

Diversified

18.8

USA

23.0

Exploration & Production

13.1

Canada

11.6

Copper

11.0

Europe

9.4

Gold

4.8

Africa

4.3

Distribution

4.6

Latin America

3.6

Nickel

4.3

Asia

2.1

Fertilizers

2.7

Australia

2.0

Silver

2.4

China

1.2

Diamonds

1.8

Net current liabilities

(0.3)

Oil services

1.7

-----

Coal

1.2

100.0

Oil Sands

0.9

=====

Agriculture Science

0.5

Net current liabilities

(0.3)

-----

100.0

=====

Ten Largest Equity Investments

Company

Region of Risk

% Total Assets

BHP Billiton

Global

5.8

ExxonMobil

Global

5.6

Chevron

Global

5.5

First Quantum Minerals

Global

5.2

Rio Tinto

Global

5.0

Enbridge Income Fund

Canada

4.6

ConocoPhillips

USA

3.8

Eni

Europe

3.7

MMC Norilsk Nickel

USA

3.4

Statoil

Europe

3.3

Commenting on the markets, Olivia Markham and Tom Holl, representing the Investment Manager noted:

June was a challenging month for the portfolio with commodities, commodity-related equities and equity markets as a whole coming under pressure and finishing the month lower (as represented by the Euromoney Global Mining Index -10.4%, MSCI World Energy Index -6.6% and the FTSE 100 Index -6.4%, all in GBP). The weakness in base metal prices, by example nickel fell by over 5% during the month, was primarily driven by poor economic data from China and a stronger US dollar. In the oil market, US crude oil production figures climbed higher, which weighed on oil prices. Near-term volatility in the oil price will also no doubt be driven by the negotiations regarding Iran, around which there is little visibility.

Although since the end of June the focus in China has been on the incredible volatility in the stock markets (both in Shanghai and Hong Kong), when looking at housing data for Tier 1 & 2 cities there are early signs of previously announced monetary loosening policies starting to have a positive impact. However, this has not occurred in Tier 3 and 4 cities, which account for approximately 70% of the property market, and there is great uncertainty as to how the sell-off in local equity markets may impact demand for housing and consumer goods.

In the potash market, K&S (a relatively high cost European producer of potash) announced it had received and rejected a takeover proposal from Potash Corp, one of the dominant producers of the commodity, with a market share of nearly 20%. This signal from Potash Corp that they will take action to consolidate the market has given us greater confidence in the outlook for the commodity so we added to the position in Potash Corp during the month.

24 July 2015

ENDS

Latest information is available by typing www.blackrock.co.uk/brci on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal).  Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.