Portfolio Update

BARING EMERGING EUROPE PLC
PORTFOLIO UPDATE

Baring Emerging Europe PLC announces that at close of business 30 June 2020

its ten largest investments were as follows:

% of Total Assets

Lukoil	8.75%
Sberbank	8.29%
Gazprom	7.31%
Norilsk Nickel	6.21%
AO Tatneft	5.19%
X5 Retail Group	4.95%
CD Projekt S.A	3.94%
Novatek	3.86%
Mail RU Group	3.64%
PZU	3.62%

The geographic breakdown at close of business 30 June 2020 was as follows:

Russia			69.94%
Poland			12.60%
Turkey			12.02%
Greece			2.03%
Czech Republic			1.72%
Kuwait			0.88%
Romania			0.61%
Cash & Equivalent			0.20%