NET ASSET VALUE

BLACKROCK FRONTIERS INVESTMENT TRUST PLC

The unaudited net asset values for the ordinary shares of BlackRock Frontiers
Investment Trust plc at close of business on 24 August 2016 were:

163.57c  Capital only USD (cents)
123.45p  Capital only Sterling (pence)
166.69c  Including current year income USD (cents)
125.80p  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.       The unaudited NAV above has been calculated on the basis of
164,333,108 Ordinary Shares in issue.