Certain BlackRock Sector Equity Closed-End Funds Announce Updates to Investment Objectives and Principal Investment Strategies

NEW YORK, September 10, 2025–(BUSINESS WIRE)–The BlackRock Sector Equity Closed End Funds (CEFs) listed below (the “Funds”) announced today that each Fund’s Board of Trustees (the “Board”) has approved the following updates to the Funds’ respective investment objectives and principal investment strategies.

Effective 11/10/2025, the Funds’ investment objectives will be changed as indicated below.

Investment objective changes

Investment strategy update

In addition to changing the Funds’ respective investment objectives, each Board also approved changing the Funds’ principal investment strategies to remove the options writing strategy. BlackRock Advisors, LLC (“BlackRock”), each Fund’s investment advisor, believes the removal of such strategy will better align the Funds’ principal investment strategies with shareholder interests and expectations for equity closed-end funds. In addition, BlackRock believes that removing the options writing strategy has the potential to allow each fund to capture more capital appreciation, with the goal of outperforming broad equity indices over a full cycle using the benefits of the closed-end fund structure. The Funds’ updated strategies could also potentially lead to greater distribution stability, improved trading and lower discounts.

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Availability of Fund Updates

BlackRock will update performance and certain other data for each Fund on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about each Fund. This reference to BlackRock’s website is intended to allow investors public access to information regarding each Fund and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for a Fund or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC’s website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

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