Net Asset Value(s)

NET ASSET VALUE BLACKROCK FRONTIERS INVESTMENT TRUST PLC5493003K5E043LHLO706 The unaudited net asset values for the ordinary shares of BlackRock FrontiersInvestment Trust plc at close of business on 8 December 2017 were: 201.05c Capital only USD (cents)150.30p Capital only Sterling (pence)205.91c Including current year income USD (cents)153.94p 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 payablededucted on the ex-dividend date. 3. Following the share issuance of 548,000 ordinary shares on 03 November2017, the Company has 180,766,108 ordinary shares in issue. 4. With effect from 30 March 2017, the Company's Net Asset Value (NAV)includes a provision for Capital Gains Tax potentially payable in Argentina.As at 6 December 2017 this provision was 2.02% of the NAV (0.87% on unrealisedgains and 1.15% on realised gains since 23 September 2013). There isconsiderable uncertainty as to whether the Capital Gains Tax will becomepayable and there is currently no established mechanism for paying it. In theevent that no tax becomes payable the provision will be reversed.