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 2 December 2016 were:

157.48c  Capital only USD (cents)
124.41p  Capital only Sterling (pence)
162.19c  Including current year income USD (cents)
128.13p  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.