-Shareholders Reject Saba’s Proposal to Terminate BlackRock at BCAT, BFZ, BIGZ, BMEZ, ECAT -Saba Failed to Seat Any Nominees at Eight Closed-End Funds -MPA’s Full Board Reelected, Defeating Saba’s Seven Nominees -BFZ Shareholders Support the Board’s Trustees Over Saba’s Nominees for Second Consecutive Year – BlackRock Advisors, LLC (“BlackRock”) announced today that BlackRock will remain in place as investment adviser at five closed-end funds where dissident shareholder, Saba Capital Management, L.P. (“Saba”), had put forth a termination proposal, and the current Board members will continue to steward the eight funds where Saba had proposed nominees, according to the preliminary voting results of the 2024 Annual Meetings of Shareholders (the “Annual Meetings”) of the following funds: BlackRock Capital Allocation Term Trust (NYSE: BCAT) BlackRock California Municipal Income Trust (NYSE: BFZ) BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) BlackRock Health Sciences Term Trust (NYSE: BMEZ) BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT) BlackRock MuniHoldings New York Quality Fund, Inc. (NYSE: MHN) BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA) BlackRock MuniYield New York Quality Fund, Inc. (NYSE: MYN) “Shareholders rejected Saba’s efforts to unseat BlackRock as investment adviser and voted to support the Board’s nominees at several funds. For the second year in a row, Saba has failed to convince shareholders that Saba will deliver more value than the funds’ current stewardship and management teams,” said R. Glenn Hubbard, Chair of the Boards of BlackRock Closed-End Funds.
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