BlackRock Core Bond Trust (BHK) Announces Terms of Rights Offering

BlackRock Core Bond Trust (NYSE: BHK) (the "Fund") today announced that its Board of Trustees (the "Board") has approved the terms of the issuance of transferable rights ("Rights") to the holders of the Fund's common shares of beneficial interest (par value $0.001 per share) ("Shares") as of May 27, 2025 (the "Record Date"). Holders of Rights will be entitled to subscribe for additional Shares (the "Offer") at a discount to the market price of the Shares.

After considering a number of factors, including potential benefits and costs, the Board and the Fund's investment adviser, BlackRock Advisors, LLC (the "Adviser"), have determined that it is in the best interests of both the Fund and its shareholders to conduct the Offer and increase the assets of the Fund available to take advantage of existing and future investment opportunities that are consistent with the Fund’s investment objective to provide current income and capital appreciation.

All expenses of the Offer will be borne by the Adviser, and not by the Fund or any of the Fund's shareholders.

The Adviser believes this is an attractive time to raise additional assets for the Fund based on several factors, including the following potential benefits:

• Opportunity set: Rising interest rates allow for higher potential earnings and possible distribution stability. The Adviser believes that BHK is currently poised to take advantage of attractive income opportunities by investing in bonds at lower price levels.

• Rewards shareholders: This is an opportunity to buy new shares below market price or to realize value from the sale of Rights and potentially benefit from appreciation.

• No offering fees: The Adviser, not the Fund, will pay for the expenses of the Offer.

• Lower expense ratio: The Offer is expected to allow fixed operating costs to be spread across a larger asset base.

• Enhanced liquidity: The Offer creates the potential for increased trading volume and liquidity of Shares.

The Fund expects to maintain its current distribution level following the Offer. Additionally, the Fund declared a regular monthly distribution payable on May 30, 2025, with a record date of May 15, 2025, which will not be payable with respect to Shares that are issued pursuant to the Offer as such issuance will occur after such record date. Shares issued will not receive the monthly distribution expected in June. However, Shares issued pursuant to the Offer will be entitled to receive the monthly distribution expected to be payable in July.