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 16 August 2018 were:

176.87c  Capital only USD (cents)
139.00p  Capital only Sterling (pence)
183.06c  Including current year income USD (cents)
143.87p  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 375,000 ordinary shares on 14 August
2018, the Company has 199,916,108 ordinary shares in issue.