Net Asset Value(s) Correction

NAV Correction:  This announcement replaces the NAV announcement released to the market today at 3.19pm.  Note 4 has been amended.  Reference to “the MCSI Frontier index weighting of circa 890 bps (8.9%)” was incorrect.  It should have read “the MCSI Frontier index weighting of circa 1240 bps (12.4%)”. All other information remains the same.

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 June 2016 were:

160.17c  Capital only USD (cents)

111.77p  Capital only Sterling (pence)

161.85c  Including current year income USD (cents) XD

112.94p  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 164,333,108 Ordinary Shares in issue.

4.       This valuation includes a downward foreign exchange fair value adjustment of approximately (30.9%) to the Company’s Nigerian assets. This adjustment to the foreign exchange rate was derived from the non-deliverable forward market price. Post this revaluation Nigeria represents approximately 70bps (0.7%) of the company’s net assets, substantially below the MCSI Frontier index weighting of circa 1240 bps (12.4%).