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 22 February 2018 were:

220.44c  Capital only USD (cents)
158.14p  Capital only Sterling (pence)
221.13c  Including current year income USD (cents)
158.64p  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 400,000 ordinary shares on 16 February
2018, the Company has 189,891,108 ordinary shares in issue .