BlackRock Income Trust (BKT) Announces Terms of Rights Offering

BlackRock Income Trust, Inc. (NYSE: BKT) (the "Fund") today announced the terms of transferable rights ("Rights") to be issued to the holders of the Fund's common shares of beneficial interest (par value $0.01 per share) ("Shares") as of September 29, 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 Fund’s Board of Directors (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 achieve both preservation of capital and high monthly income.

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: Agency mortgage-backed securities ("MBS") form the core of BKT and may benefit in an environment of falling rates and volatility. Agency MBS yields have risen since the Federal Reserve began cutting short-term interest rates in 2024, presenting an opportunity for BKT to lock in attractive yield levels. The Federal Reserve is expected to make additional interest rate cuts, beginning in the second half of 2025, which may reduce borrowing costs and increase earnings to support BKT's distribution rate.

• High quality diversification: Allocations to Agency MBS may add diversification to high quality US fixed income portfolios, given their complementary risk characteristics and competitive yields compared to U.S. Treasuries and alternative fixed income spread assets.

• 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.

• Scale benefits: 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. Shares issued pursuant to the Offer will be entitled to receive the monthly distribution expected to be payable in November 2025 and will not be eligible for the distribution payable in October 2025.