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 13 November 2019 were:

164.49c  Capital only USD (cents)
128.11p  Capital only Sterling (pence)
169.88c  Including current year income USD (cents)
132.30p  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 04th
February 2019, the Company has 240,672,801 ordinary shares in issue.