BlackRock Science and Technology Term Trust (BSTZ), BlackRock Health Sciences Term Trust (BMEZ) and BlackRock Innovation and Growth Term Trust (BIGZ) Announce Changes to Distribution Rates Under Managed Distribution Plans

Each of BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Health Sciences Term Trust (NYSE: BMEZ) and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (each a “Fund,” and collectively the “Funds”) has announced changes to its distribution rate under its managed distribution plan (“Plan”). Each Fund has adopted a Plan to support a level distribution of income, capital gains and/or return of capital.

Effective with the distribution to be declared on October 2, 2023, each Fund will pay monthly distributions to shareholders at an annual rate of 6% of the Fund’s 12-month rolling average daily net asset value to be calculated 5 business days prior to declaration date. For example, the October 2023 distribution will be calculated based on the average net asset value from September 23, 2022 to September 22, 2023. Each month this formula will be applied, and the distribution per share will be re-set and announced on the distribution declaration date.

The annual distribution rate is subject to change at the discretion of each Fund’s Board of Trustees. Under its Plan, each Fund will distribute all available investment income to its shareholders, consistent with its investment objectives and as required by the Internal Revenue Code of 1986, as amended. If sufficient investment income is not available for a monthly distribution, a Fund will distribute long-term capital gains and/or return capital to its shareholders in order to maintain its stated annual distribution rate under the Plan.

Shareholders should not draw any conclusions about a Fund’s investment performance from the terms of the Fund’s Plan, which is to provide shareholders with a level distribution.

The amounts and sources of distributions for tax reporting purposes will depend upon each Fund’s investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report distributions for federal income tax purposes.

For more information on BlackRock’s closed-end funds, please visit www.blackrock.com/CEF

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