Company: BDJ
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001193125-25-196068
Chunk: 23

Company: BlackRock Enhanced Equity Dividend Trust
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 23
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| (a) 
 (b) 
 (c) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices.                                                                                                                                                                              
 TheTrust’s discount to NAV narrowed during the period, which accounts for the difference between performance based on market price and performance based on NAV.                                                                                                               
 An index that incorporates an option overlay component on the MSCI ACWI Select Liquidity Natural Resources Index with a 33% overwrite level. The benchmark commenced onDecember 31, 2018 and therefore the benchmark does not have 10-year returns.                            |
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| (d) | An index that includes approximately 90 of the largest publicly-traded companies in the natural resources and commodities businesses that meet specific investability requirementsacross three primary commodity-related sectors: agribusiness, energy, and metals and mining. |

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 absolute performance based on NAV: What factors influenced performance? The Trust’s overweight position in gold stocks positively impacted performance. Gold benefited from continued central bank purchases and its status as a “safe haven” during a period of heightened geopolitical risk, inflation, uncertainty over global growth, and rising government budget deficits and debt levels. A higher gold price, combined with a favorable energy and labor cost environment for mining companies, led the Trust’s gold producers and gold royalty companies—such as Wheaton Precious Metals Corp. and AngloGold Ashanti PLC—to be among the largest positive contributors. The cement and building materials producer Heidelberg Materials AG was also a top contributor. The stock was supported by positive earnings updates and the German government’s announcement of a €500 billion package to boost defense and infrastructure spending.

20 2025 BlackRock Semi-Annual Report to Shareholders

Trust Summary as of June 30, 2025 (continued) BlackRock Resources & Commodities Strategy Trust (BCX) Holdings in U.S. steel producers were additional contributors of