BlackRock Updates Managed Distribution Plans for BMEZ, BSTZ, and BTX

09/10/2025 – 08:06 PM

NEW YORK – The boards of BlackRock Health Sciences Term Trust (BMEZ), BlackRock Science and Technology Term Trust (BSTZ), and BlackRock Technology and Private Equity Term Trust (BTX) have announced revisions to their managed distribution plans, slated to take effect in October 2025. The funds will transition from floating-rate distributions to fixed-rate distributions at predetermined monthly rates.

This strategic shift is designed to provide investors with greater predictability in income streams. BlackRock aims to stabilize distribution payouts, maintain competitive yields, and potentially enhance the Funds’ net asset value (NAV) over time. A key consideration behind this move is to recalibrate the balance between public and private investment holdings within these trusts.

The decision comes amid increasing scrutiny of the sustainability of high-yield investment vehicles when substantial portions of distributions are funded by sources other than investment income. This change reflects a proactive approach to managing capital and ensuring long-term value creation for shareholders.

Declaration Date: 9/10/2025; Ex-Date: 10/15/2025; Record Date: 10/15/2025; Payable Date: 10/31/2025

BlackRock has stated its compliance with Section 19 of the Investment Company Act of 1940, having disseminated the required Section 19 notice regarding prior distribution payments. This notice, available in the Closed-End Funds section of BlackRock’s website, is strictly for informational purposes and should not be used for tax reporting. The final determination of the sources and tax characteristics of all 2025 distributions will be made at year-end.

Distribution amounts and rates are subject to change at the discretion of the Funds’ boards. Each Fund’s plan is structured to distribute all available investment income, aligning with investment objectives and regulatory requirements under the Internal Revenue Code. To sustain level distributions, the Funds may distribute long-term capital gains and/or return of capital if sufficient monthly income is not available.

As of August 29, 2025, the estimated distribution sources are as follows:

¹The Fund estimates that it has distributed more than its income and net-realized capital gains in the current fiscal year; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the shareholder’s investment is paid back to the shareholder. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. When distributions exceed total return performance, the difference will reduce the Fund’s net asset value per share.

Investors are cautioned that these figures are estimates provided to fulfill regulatory requirements and should not be considered tax advice. Final tax reporting will be based on the Funds’ investment performance throughout the fiscal year and may be subject to tax regulation changes. A Form 1099-DIV will be issued for tax reporting purposes.

* Portfolio launched within the past 5 years; the performance and distribution rate information presented for this Fund reflects data from inception to 7/31/2025.

It’s crucial for investors to understand that fund performance should not be solely evaluated based on distribution amounts or plan terms.

The distribution per share amount is subject to change at the discretion of the Fund’s Board. The board will routinely review these plans and reserves the right to modify or discontinue them as deemed necessary for the best interests of the Fund and its shareholders. Such changes could impact the market price of the Fund’s shares.

About BlackRock

BlackRock aims to enhance the financial well-being of individuals globally. As a fiduciary to investors and a leading financial technology provider, BlackRock facilitates savings and investment opportunities for millions. More information is available at www.blackrock.com/corporate.

Fund Updates

BlackRock provides monthly performance updates and relevant data on its website under the “Closed-end Funds” section. Investors are encouraged to regularly consult the website for the latest information, noting that information on BlackRock’s website is not part of this press release.

Forward-Looking Statements

This release may contain forward-looking statements subject to numerous assumptions, risks, and uncertainties. BlackRock does not commit to updating these statements. Actual results may significantly differ from those projected due to factors including market conditions, investment performance, competition, legal proceedings, distribution changes, technological advancements, regulatory actions, and geopolitical events.

The Fund’s annual and semi-annual reports, along with other regulatory filings, are accessible on the SEC’s website at www.sec.gov and BlackRock’s website at www.blackrock.com. These reports may include discussions of factors affecting the Fund.