NET ASSET VALUE BLACKROCK NORTH AMERICAN INCOME TRUST PLC The unaudited net asset values for BlackRock North American Income Trust plc at close of business on 15 January 2015 were: 122.89p Capital only 123.92p Including current year income 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 has been calculated on the basis of 100,361,305 Ordinary Shares in issue.