Net Asset Value(s)

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for the ordinary shares of 
BlackRock Frontiers Investment Trust plc at close of business 
on 16 December 2015 were:

155.19c  Capital only USD (cents) 
103.43p  Capital only Sterling (pence) 
159.50c  Including current year income USD (cents) 
106.31p  Including current year income Sterling (pence) 

Notes:
1.        Investments have been valued on a bid price basis.
2.        Revenue items included in net asset value, with dividends 
payable deducted on the ex-dividend date.
3.        The unaudited NAV above has been calculated on the basis 
of 150,621,621 Ordinary Shares in issue.