Portfolio Update

BLACKROCK COMMODITIES INCOME INVESTMENT TRUST plc

All information is at 31 March 2016 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

8.0%

11.4%

8.4%

-22.4%

-38.9%

-49.3%

Share price

9.5%

15.5%

14.0%

-20.8%

-36.8%

-46.9%

Sources: Datastream, BlackRock

At month end

Net asset value – capital only:

59.32p

Net asset value cum income*:

59.27p

Share price:

62.00p

Premium to NAV (cum income):

4.6%

Net yield:

9.7%

Cash - cum income:

0.9%

Total assets^^:

£72.1m

Ordinary shares in issue:

117,968,000

Gearing range (as a % of net assets):

0-20%

Ongoing charges**:

1.4%

* Includes net revenue of -0.05p. ^^ 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 2015.

Sector Analysis

% Total Assets

Country Analysis

% Total Assets

Integrated Oil

30.4

Global

49.9

Gold

14.4

USA

13.7

Diversified Mining

13.4

Canada

10.3

Copper

10.2

Australia

6.1

Exploration & Production

7.8

Europe

5.1

Distribution

4.9

Africa

5.1

Nickel

3.8

Latin America

3.9

Silver

3.2

Sweden

1.0

Refining & Marketing

1.8

Asia

0.8

Diamonds

1.8

Philippines

0.1

Fertilizers

1.5

China

0.1

Mining

1.0

Net current assets

3.9

Zinc

1.0

-----

Oil services

0.8

100.0

Coal

0.1

=====

Net Current assets

3.9

-----

100.0

=====

Ten Largest Equity Investments (in % of Total Assets order)

Company

Region of Risk

% Total Assets

ExxonMobil

Global

6.9

First Quantum Minerals

Global

6.8

Royal Dutch Shell ‘B’

Global

6.1

Enbridge Income Fund Trust

Canada

4.9

Glencore

Global

4.8

Chevron

Global

4.6

BHP Billiton

Global

4.3

BP

Global

3.5

Newcrest Mining

Australia

3.1

ConocoPhillips

USA

3.1

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

March was a strong month for natural resources equities, which moved firmly into positive territory for the year to date. Global equity markets provided a supportive backdrop, with the MSCI World Index increasing by 6.8%, as did underlying commodity prices as the Bloomberg Commodity Index rose by 3.8%.

The mining sector continued to outperform broader equity markets strongly. This appeared to be driven by an improvement in the short-term outlook for China, with the government providing support to infrastructure projects and increasing liquidity into the market, as well as short-covering and some investor rotation back into the sector (from a point of extreme underweight positioning). Better than expected economic data emerged from China which included a manufacturing PMI reading above 50 and stronger property data. These data points somewhat eased the market’s concerns around the potential for a hard landing in the country.

The energy sector also performed strongly on the back of Brent and WTI oil prices rising by 8.7% and 12.8% respectively to finish the month at $39/bbl and $37/bbl. This strength was primarily driven by increasing evidence of US supply declining combined with unexpected outages in Northern Iraq, Nigeria and Venezuela. The oil price was also buoyed by increasing rhetoric around the potential for a supply freeze by OPEC and Russia and the confirmation of a meeting date to discuss the proposal.

18 April 2016

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.