Company: BSTZ
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001193125-25-196080
Chunk: 12

Company: BlackRock Science & Technology Term Trust
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 12
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 performance based on market price and performance based on NAV.                                                 
 An index that incorporates an option overlay component on the MSCI ACWI Index with a 45% overwrite level. The benchmark commenced on December 31, 2018 and therefore thebenchmark does not have 10-year returns. |
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| (d) | An index that captures large- and mid-cap representation across certain developed and emerging markets.                                                                                                          |

Performance results may include adjustments made for financial reporting purposes in accordance with U.S. generally accepted accounting principles.
Past performance is not an indication of future results. The Trust is presenting the performance of one or more indices for informational purposes only. The Trust is actively managed and does not seek to track or replicate the performance of any index. The index performance shown is not intended to be indicative of the Trust’s investment strategies, portfolio components or past or future performance. More information about the Trust’s historical performance can be found in the “Closed End Funds” section of blackrock.com . The following discussion relates to the Trust’s relative performance based on NAV: What factors influenced performance? Stock selection in financials contributed the most to relative performance. Stock selection within and an overweight to industrials along with an underweight to consumer discretionary also contributed. In terms of individual contributors, shares of Spanish multinational financial services firm Banco Bilbao Vizcaya Argentaria were supported by investor confidence in European banks and optimism around its proposed merger with Sabadell, which is expected to enhance efficiency and scale. Strong fourth quarter 2024 results and upward earnings revisions further lifted sentiment with respect to the stock alongside broad strength in European financials. General Electric Co., a U.S. aerospace and defense firm, outperformed on strong quarterly results and favorable structural tailwinds. The company reported robust earnings and raised its full-year guidance, driven by strong order momentum. A limited availability of new aircraft has led airlines to extend the life of older fleets, fueling increased demand for maintenance and aftermarket services, a segment

10 2025 BlackRock Semi-Annual Report to Shareholders

Trust Summary as of June 30, 2025 (continued) BlackRock Enhanced Global Dividend Trust (BOE) in which General Electric holds a leading market position. BAE Systems plc is a British aerospace, arms and information security company that is benefiting from increased geopolitical tensions and a renewed focus on European defense spending. BAE is well aligned with Europe’s key defense priorities through its involvement in missile systems and the