Tender Offer Update

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BLACKROCK FRONTIERS INVESTMENT TRUST PLC

1 February 2016

Tender Offer Update

BlackRock Frontiers Investment Trust plc (the “Company”) has received valid tender acceptances in respect of 5,995,293 Ordinary Shares (representing 4.0% of the Company’s issued share capital) as at 3.00 p.m. on 29 January 2016 (the “Tendered Shares”).  Winterflood, as the Company’s broker, will now attempt to procure buyers for the Tendered Shares.  Any Tendered Shares so placed shall be sold at a price equal to the Net Asset Value per Ordinary Share on 10 February 2016 in accordance with the terms set out in the tender offer circular published by the Company on 17 December 2015 (the “Circular”).

The sale of the Tendered Shares, together with the implementation of the Tender Offer, remain subject to approval from Shareholders at a General Meeting of the Company convened for 12.00 noon on 10 February 2016, notice of which is set out in the Circular.

The Company expects to provide a further update on the Tender Offer and the sale of Tendered Shares on 11 February 2016.

A reminder of the timetable for the Tender Offer and the sale of Tendered Shares is set out below.

Terms used and not defined in this announcement shall have the meaning given to them in the Circular.

Enquiries:

Simon White/Sarah Beynsberger
BlackRock Investment Management (UK) Limited
Tel: [phone]

Joe Winkley/Neil Morgan
Winterflood Investment Trusts
Tel: [phone]

Expected Timetable

Latest time and date for receipt of Forms of Direction for the General Meeting	12.00 noon on 4 February 2016
Latest time and date for receipt of Forms of Proxy for the General Meeting	12.00 noon on 8 February 2016
General Meeting	12.00 noon on 10 February 2016
Results of General Meeting and Tender Offer announced	10 February 2016
Calculation Date	close of business on 10 February 2016
Sale of On-sale Shares	11 February 2016
Establishment of Tender Pool and Continuing Pool	11 February 2016
Realisation of the Tender Pool commences	11 February 2016
Tender Price announced; final distribution under the Tender Offer of assets in the Tender Pool announced; cheques despatched and payments through CREST made	as soon as practicable after commencement of the realisation of the Tender Pool

All references are to London time unless otherwise stated.

Dates and times are indicative only and may be subject to change. Any changes will be notified via a RIS.