Investment of C Share Proceeds

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

Statement re Investment of C Share Proceeds

LEI: 5493003K5E043LHLO706

24 December 2018

BlackRock Frontiers Investment Trust plc (the “Company”) has been informed by the Manager that as at 24 December, over 85 per cent. of the Net Proceeds of the recent issue of C Shares have been invested in accordance with the Company's investment policy.

In the absence of unforeseen circumstances the Company expects the Calculation Date, being the date of which the Conversion Ratio is calculated, to fall on 7 January 2019 and the Record Date for the transaction to fall on 11 January 2019. The Ordinary Shares arising on Conversion will rank pari passu with, and will have the same rights as, the Ordinary Shares of the Company already in issue, including the right to receive dividends declared subsequent to Admission. For the avoidance of doubt holders of C Shares will not be entitled to the final 2018 dividend in respect of the year ended 30 September 2018, which is payable to Ordinary Shareholders on the register on the record date of 4 January 2019.

The last day for trading in the C Shares on the London Stock Exchange for normal settlement (in order to enable settlement prior to Conversion) will be 9 January 2019.

The Company intends to make a further announcement in due course setting out the Conversion Ratio applying to the Conversion of C Shares into Ordinary Shares and the expected date when such conversion will occur.

Unless otherwise defined, capitalised terms in this announcement shall have the meaning given to them in the Prospectus.

Enquiries:

BlackRock Investment Management (UK) Limited             020 7743 3000
Simon White
Kevin Mayger

Winterflood Securities                                                           020 3100 0000
Neil Morgan