Net Asset Value(s)

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC
5493003K5E043LHLO706

The unaudited net asset values for the ordinary shares of BlackRock Frontiers Investment Trust plc at close of business on 11 April 2017 were:

178.93c  Capital only USD (cents)
143.29p  Capital only Sterling (pence)
182.00c  Including current year income USD (cents)
145.75p  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.       Following the share issuance of 410,000 ordinary shares on 05 April 2017, the Company has 171,243,108 ordinary shares in issue.  

4.       With effect from 30 March 2017, the Company’s Net Asset Value (NAV) includes a provision for Capital Gains Tax potentially payable in Argentina.  As at 06 April 2017 this provision was 1.49% of the NAV (0.94% on unrealised gains and 0.55% on realised gains since 23 September 2013).  There is considerable uncertainty as to whether the Capital Gains Tax will become payable and there is currently no established mechanism for paying it. In the event that no tax becomes payable the provision will be reversed.