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 10 February 2016 were:

146.61c  Capital only USD (cents)
101.39p  Capital only Sterling (pence)
146.87c  Including current year income USD (cents) XD
101.57p  Including current year income Sterling (pence) XD

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.