Performance update

Jupiter Emerging & Frontier Income Trust PLC (the 'Company')

Legal Entity Identifier: 213800RLXLM87NO26S30

Performance Update

The Board of JEFIT notes the significantly improved performance of the Company in its 2020/21 financial year, which ended on 30 September. The Net Asset Value (NAV) total return was 28.8%, exceeding the MSCI Emerging Markets Index by 15.1%, while the total return to shareholders was 31.7%. The strong outperformance of the Company was achieved in part because of an underweight position in China and its exposure to companies in frontier markets which do not form part of the benchmark.

At the same time, we have restored our level of dividends to that seen before the pandemic. The current yield of the Company, at 4.1%, is the highest of all investment trusts in the AIC's Global Emerging Markets and provides an attractive level of income to investors. It is the Board's intention to grow JEFIT's quarterly distributions and we continue to believe that the twin benefits of a high payout and the potential for capital growth should be attractive to longer term investors looking to diversify their equity exposure beyond the major capital markets.

For further information, please contact:

Magnus Spence

Head of Investment Trusts and Alternatives

Jupiter Asset Management Limited, Company Secretary

020 3817 1325

5 October 2021

www.jupiteram.com/JEFI