Tender Offer Update

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND AND THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH JURISDICTION

30 March 2021

BlackRock Frontiers Investment Trust plc

(LEI: 5493003K5E043LHLO706)

Tender Offer Update

Further to the announcement on 25 February 2021, the Board of BlackRock Frontiers Investment Trust plc (the “Company”) confirms that all the assets in the Tender Pool have been fully realised. The Tender Pool Determination Date was 26 March 2021 and, as at that date, the Final Tender Offer Asset Value was £62,671,613.68, giving a Tender Price of 120.79 pence per Tender Share.

Winterflood Securities will, as principal, on the terms and subject to the conditions of the Tender Offer, buy the 51,884,770 Tender Shares at the Tender Price in the market then sell the Tender Shares to the Company at the Tender Price in accordance with the Repurchase Agreement, with this expected to happen on or around 31 March 2021. All of the 51,884,770 Tender Shares will be transferred into and held in treasury until further notice.

Capitalised terms used in this announcement, unless otherwise defined, have the same meanings as set out in the circular to Shareholders published by the Company on 29 January 2021.

Enquiries: BlackRock Investment Management (UK) Limited Simon White Sarah Beynsberger Kevin Mayger	020 7743 3000
Winterflood Securities Limited Neil Morgan	020 3100 0292