Company: BSTZ
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049659
Chunk: 71

Company: BlackRock Science & Technology Term Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 71
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 Subsidiary for providing investment management or administrative services. However, BDJ pays the Manager based on the Trust’s net assets, which includes the assets of the BDJ Taxable Subsidiary, and BSTZ and BST pay the Manager based on the Trust ’ s managed assets, which includes the assets of the BSTZ Taxable Subsidiary and BST Taxable Subsidiary, respectively.

Notes to Financial Statements 161

Notes to Financial Statements (continued)

With respect to BGR, BOE, BGY, BCX and BUI, the Manager entered into separate sub-advisory agreements with BlackRock International Limited (“BIL”), an affiliate of the Manager. The Manager pays BIL for services it provides for that portion of each Trust for which BIL acts as Sub-Adviser, a monthly fee that is equal to a percentage of the investment advisory fees paid by each Trust to the Manager. Distribution Fees: BDJ, BME, BST and BUI have each entered into Distribution Agreements with BlackRock Investments, LLC (“BRIL”), an affiliate of the Manager, to provide for distribution of BDJ ’ s, BME’s, BST’s and BUI’s common shares on a reasonable best efforts basis through an equity shelf offering (a “Shelf Offering”) (the “Distribution Agreement”). Pursuant to the Distribution Agreement, BRIL will receive commissions with respect to sales of common shares at a commission rate of 1.00% of the gross proceeds of the sale of BDJ ’ s, BME’s, BST’s and BUI’s common shares and a portion of such commission is re-allowed to broker-dealers engaged by BRIL. The commissions retained by BRIL during the year ended December 31, 2024 amounted to $0, $0, $17,451 and $5,823 for each of BDJ, BME, BST and BUI, respectively. Expense Limitations, Waivers and Reimbursements: The Manager voluntarily agreed to waive investment advisory fees on the following Trusts as a percentage of their average weekly net assets, as follows:

| BGR    | BOE    |
| 0.220% | 0.175% |

These voluntary waivers may be reduced or discontinued at any time without notice. Effective July 1, 2024, the voluntary waiver agreement between the Manager and BGR was terminated. For the year ended December 31, 2024, the investment advisory fees waived, which are