BlackRock today announced the release of the first quarter fund commentary for BlackRock Science and Technology Trust II (NYSE: BSTZ, CUSIP: 09260K101 or the “Trust”). BSTZ is a closed-end fund that takes a unique approach to investing in the technology sector by blending “next generation” technology stocks and private investments along with a tactical single-stock option-writing strategy to generate income to support the Trust’s monthly distribution. Key takeaways are listed below:

• BSTZ has returned 95% on market price¹ since its IPO in June 2019, outperforming the S&P MidCap 400 Info Tech Index by 28%

• On March 1, 2021, BSTZ announced a 49% increase in its monthly distribution and now has an annualized distribution rate of 5.4%². Since inception, the Trust has paid $2.15 per share in distributions³

• BSTZ holds 28 private investments⁴ (25% of the portfolio) as of 3/31/21. The Trust has reached capacity in its private allocation ahead of schedule. We continue to see a strong pipeline of investment opportunities and will look to take advantage of these when capacity opens through potential liquidity events

Find more information on BSTZ’s portfolio positioning and performance in the commentary linked below:

BSTZ First Quarter 2021 Commentary

For more information on BlackRock’s closed-end funds, please visit www.blackrock.com/CEF

¹ As of 3/31/2021

² Distribution rate is calculated by annualizing the latest declared distribution and dividing by the closing market price on 4/22/2021.

³ The Trust has adopted a managed distribution plan to support a level distribution of income, capital gains and/or return of capital. If sufficient investment income is not available on a monthly basis, the Trust will distribute long-term capital gains and/or return capital to shareholders in order to maintain the level distribution. You should not draw any conclusions about the Trust 's investment performance from the amount of these distributions or from the terms of the Trust 's managed distribution plan. The Trust estimates that it has distributed more than its income and net realized capital gains; therefore, a portion of past distributions may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the fund is paid back to you. A return of capital distribution does not necessarily reflect the Trust 's investment performance and should not be confused with ‘yield’ or ‘income'. In 2020, 12.19% of BSTZ’s distribution was return of capital.

⁴ The information above is not a prediction of future performance or any assurance that comparable investment opportunities will be available at the time of investment. It is non-representative of all underlying investments made by the investment team and it should not be assumed that the investment team will invest in comparable investments, or that any future investments made by the investment team will be successful. To the extent that these investments prove to be profitable, it should not be assumed that the investment team’s other investments will be profitable or will be as profitable.”

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Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

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With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

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