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 23 February 2017 were:

173.83c  Capital only USD (cents)
138.53p  Capital only Sterling (pence)
174.67c  Including current year income USD (cents)
139.20p  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 250,000 ordinary shares on 21 February
2017, the Company has 167,283,108 ordinary shares in issue.