NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, SOUTH AFRICA, In any Member State of the EEA (other than the UNITED KINGDOM) OR IN ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

This announcement is not an offer to sell, or a solicitation of an offer to acquire, securities in the United States or in any other jurisdiction in which the same would be unlawful. Neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

JUPITER EMERGING & FRONTIER INCOME TRUST PLC (the "Company")

Legal Entity Identifier: 213800RLXLM87NO26S30

4 May 2021

VOLUNTARY REDEMPTION OF ORDINARY SHARES

YOU DO NOT HAVE TO TAKE ANY ACTION IF YOU WISH TO RETAIN YOUR SHARES

The Company operates a voluntary redemption facility through which shareholders may request the redemption of all or part of their holding of redeemable ordinary shares of 1p each ("Ordinary Shares") for cash on the last business day in June each year.

There is no requirement for shareholders to take any action should they wish to retain their Ordinary Shares.  As at close of business on 30 April 2021, the Ordinary Share price was 105.75p and the net asset value (including current period revenue) was 111.21p per Ordinary Share, therefore the Ordinary Shares were trading at a 4.9% discount.

A redemption of Ordinary Shares may be subject to income tax and/or capital gains tax.  In particular, private shareholders that sell their shares via the redemption mechanism could find they are subject to income tax on the gains made on the redeemed shares rather than the more usual capital gains tax on the sale of their shares in the market.  However, individual circumstances do vary, therefore shareholders who are in any doubt about the redemption or the action that should be taken should seek independent professional advice.

None of the Directors of the Company will be redeeming any of their shares under the redemption facility.

Shareholders submitting valid requests for the redemption of Ordinary Shares will have their shares redeemed at the Redemption Price or the Company, at its discretion, may arrange for some or all of such shares to be sold on a matched bargain basis at the Redemption Price.

The Directors may elect, at their absolute discretion, to calculate the Redemption Price on either of the following bases:

The Directors are minded to approve all valid redemption requests unless there are exceptional reasons why this would be contrary to the interests of shareholders.

Certificated shareholders wishing to request the redemption of all or any of their Ordinary Shares at the proposed Redemption Point should deliver to the Company's Registrar, Link Group, a duly completed Redemption Request form together with their share certificate, or for CREST shareholders a valid Transfer to Escrow ("TTE") instruction (in respect of shares held in uncertificated form) in accordance with the timetable set out below.  Redemption Request forms are available for download from the Company's website at www.jupiteram.com/JEFI, on request from the Company Secretary by email to investmentcompanies@jupiteram.com and from the Company's Registrar, Link Group on +44 (0) 371 664 0321 or by email at shareholderenquiries@linkgroup.co.uk. Calls are charged at the standard geographic rate and will vary by provider. Calls outside the United Kingdom will be charged at the applicable international rate. The helpline is open between 9.00 am - 5.30 pm, Monday to Friday, excluding public holidays in England and Wales.  Please note that Link Group cannot provide any financial, legal or tax advice and calls may be recorded and monitored for security and training purposes.

The relevant dates for the June 2021 Redemption Procedure are outlined below:

Further details of the redemption facility are set out in the Company's Articles of Association, and the Share Issuance Programme prospectus issued on 19 April 2017. Both documents are available for download from the Company's website at www.jupiteram.com/JEFI.

The Directors of the Company have discretion over the operation of the redemption facility and the calculation of the Redemption Price.

Defined terms in the announcement have the same meaning as set out in the Articles of Association, a copy of which may be obtained from the Company Secretary.

Enquiries:

Magnus Spence

Jupiter Asset Management Limited, Company Secretaries

020 3817 1325

investmentcompanies@jupiteram.com

Link Group

0371 664 0321

shareholderenquiries@linkgroup.co.uk

Liz Yong / Luke Simpson
Peel Hunt LLP

020 7418 8900