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 23 September 2020 were:

125.36c  Capital only USD (cents)
98.22p  Capital only Sterling (pence)
127.53c  Including current year income USD (cents)
99.92p  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 buyback of 35,000 ordinary shares on 17th September
2020, the Company has 241,210,518 ordinary shares in issue, excluding 612,283
which are held in treasury