The BlackRock closed-end funds (the “Funds”) announced the results of the Quarterly Measurement Period (as defined below) under their previously announced discount management programs (the “Programs”). Funds with a Trigger Event (as defined below) at the end of the Quarterly Measurement Period also announced the dates of tender offers. The Programs are part of the Funds’ ongoing efforts to manage discounts and enhance long-term shareholder value and provide liquidity to the market for their common shareholders. There can be no assurances as to the effect that a Program will have on the market for a Fund’s shares or the discount at which a Fund’s shares may trade relative to its NAV. As previously announced, under the Programs, each Fund intends to offer to repurchase a portion of its outstanding common shares based on 3-month measurement periods (each a “Measurement Period”) if the Fund’s common shares trade at an average daily discount to net asset value (“NAV”) of greater than 7.50% during a Measurement Period (a “Trigger Event”). The Funds’ Measurement Period commenced on January 1, 2025 and ended on March 31, 2025 (the “Quarterly Measurement Period”). This is the final Quarterly Measurement Period for the funds below (excluding MVF). As announced on February 28, 2025, the annual Discount Management Program is still in effect.
