Net Asset Value(s)

NET ASSET VALUE BLACKROCK NORTH AMERICAN INCOME TRUST PLC The unaudited net asset values for BlackRock North American Income Trust plc atclose of business on 12 February 2015 were: 125.38p Capital only127.06p Including current year income Notes: 1. Investments have been valued on a bid price basis. 2. Revenue items included in net asset value, with dividends payable deductedon the ex-dividend date. 3. Following the implementation of the Tender Offer on 4 February 2015,20,072,261 Ordinary Shares tendered have been transferred into Treasury.Following the implementation of the Tender Offer, the Company now has100,361,305 Ordinary Shares in issue including 20,072,261 Ordinary Shares whichare held in Treasury. The number of Ordinary Shares in issue, less the numberof Ordinary Shares in Treasury, is 80,289,044. 3. The unaudited NAV has been calculated on the basis of 80,289,044 OrdinaryShares in issue.