BRFI Blackrock Frontiers Investment Trust Plc

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 15 November 2018 were:

165.55c  Capital only USD (cents)
129.48p  Capital only Sterling (pence)
172.72c  Including current year income USD (cents)
135.08p  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 share issuance of 500,000 ordinary shares on 12th November
2018, the Company has 203,991,108 ordinary shares in issue.