BRFC Blackrock Fronc

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 27 November 2018 were:

163.48c  Capital only USD (cents)
128.33p  Capital only Sterling (pence)
170.64c  Including current year income USD (cents)
133.95p  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 250,000 ordinary shares on 27th November
2018, the Company has 204,241,108 ordinary shares in issue.

C SHARES

The unaudited net asset values for the ordinary shares of BlackRock Frontiers
Investment Trust C Share plc at close of business on 27 November 2018 were:

126.75c  Capital only USD (cents)
99.50p  Capital only Sterling (pence)
126.76c  Including current year income USD (cents)
99.51p  Including current year income Sterling (pence)

BlackRock Frontiers Investment Trust C Shares PLC

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 44,927,580
C Shares in issue.