Portfolio Update

BARING EMERGING EUROPE PLC PORTFOLIO UPDATE

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

its ten largest investments were as follows:

    % of Total Assets

Sberbank	10.10%
Lukoil	6.85%
Norilsk Nickel	6.44%
Gazprom	5.90%
Mail RU Group	4.57%
Polyus ORD	4.57%
CD Project S.A	4.32%
Yandex	4.27%
X5 Retail Group	3.90%
Novatek	3.73%

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

Russia			72.93%
Poland			11.81%
Turkey			7.80%
Greece			2.19%
Czech Republic			1.71%
Kuwait			1.09%
Romania			0.70%
Cash & Equivalent			1.77%