Net Asset Value(s)

NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

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The unaudited net asset values for the ordinary shares of BlackRock Frontiers

Investment Trust plc at close of business on 19 June 2020 were:

126.45c  Capital only USD (cents)

102.27p  Capital only Sterling (pence)

127.15c  Including current year income USD (cents) XD

102.84p  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.  Following the share issuance of 300,000 ordinary shares on 02nd

January 2020, the Company has 241,822,801 ordinary shares in issue.