Company: BSTZ
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001193125-25-196080
Chunk: 19

Company: BlackRock Science & Technology Term Trust
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 19
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.S. equity universe. It is a subset of the Russell 3000®Index and includes approximately 1,000 of the largestsecurities based on a combination of their market capitalization and current index membership. The 
 Russell 1000®Index represents approximately 93% of the                                                                                                                                                                                                                                  
 Russell 3000®Index.                                                                                                                                                                                                                                                                     |

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 the healthcare sector contributed to relative performance, led by results in the healthcare providers and services industry. Selection in financials, particularly in the financial services industry, also had a positive impact on results. Selection in industrials and information technology contributed, as well. Selection in the materials sector detracted, due in part to weakness among holdings in the chemicals industry. Allocation decisions in consumer staples, most notably the tobacco industry, also weighed on relative performance. A zero weighting in the utilities sector and stock selection in energy further detracted. The Trust used an options overlay strategy in which calls were written on a portion of the portfolio’s holdings. The Trust’s options overlay strategy detracted from relative performance. The Trust’s practice of maintaining a specified level of monthly distributions did not have a material impact on the Trust’s investment strategy.

14 2025 BlackRock Semi-Annual Report to Shareholders

Trust Summary as of June 30, 2025 (continued) BlackRock Enhanced Large Cap Core Fund, Inc. (CII) Describe recent portfolio activity. The Trust’s allocations to the healthcare and financials sectors increased due to a combination of portfolio trading activity and market movements. Its allocations to the information technology and industrials sectors decreased. Describe portfolio positioning at period end. The Trust’s largest absolute allocations were in the information technology, financials, communication services and healthcare sectors. Relative to the benchmark, its most significant overweights were in financials, communication services, and healthcare. Consumer staples, utilities, and real