Portfolio Update

BLACKROCK ENERGY AND RESOURCES INCOME TRUST plc (LEI:54930040ALEAVPMMDC31)

All information is at 30 June 2026 and unaudited.

Performance at month end with net income reinvested

One

Three

Six

One

Three

Five

Month

Months

Months

Year

Years

Years

Net asset value

-7.5%

-3.6%

15.1%

53.4%

63.5%

120.4%

Share price

-10.8%

-5.7%

14.4%

59.9%

72.7%

130.8%

Sources: Datastream, BlackRock

At month end

Net asset value – capital only:

187.85p

Net asset value cum income 1 :

187.93p

Share price:

176.00p

Discount to NAV (cum income):

6.4%

Net yield:

3.3%

Net Gearing - cum income:

5.6%

Total assets:

£189.0m

Ordinary shares in issue 2 :

100,576,997

Gearing range (as a % of net assets):

0-20%

Ongoing charges 3 :

1.15%

1 Includes net revenue of 0.08p. 2 Excluding 35,009,197 ordinary shares held in treasury. 3 The Company’s ongoing charges are calculated as a percentage of average daily net assets and using the management fee and all other operating expenses excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain other non-recurring items for the year ended 30 November 2025. In addition, the Company’s Manager has also agreed to cap ongoing charges by rebating a portion of the management fee to the extent that the Company’s ongoing charges exceed 1.15% of average net assets.

Sector Overview

Mining

37.0%

Energy Transition

35.1%

Traditional Energy

28.5%

Other

0.7%

Net Current Liabilities

-1.3%

-----

100.0%

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Sector Analysis

% Total Assets^

Country Analysis

% Total Assets^

Mining:

Global

52.5

Diversified

21.2

United States

14.1

Copper

6.8

Latin America

6.4

Gold

5.4

North America

5.5

Industrial Minerals

1.9

France

5.0

Steel

0.7

Italy

2.9

Aluminium

0.5

Canada

2.8

Platinum Group Metals

0.5

Germany

2.6

Subtotal Mining:

37.0

United Kingdom

2.0

China

1.9

Energy Transition:

Spain

1.7

Renewables

11.7

Australia

1.2

Electrification

10.5

Europe

1.0

Storage

9.0

South Africa

0.9

Energy Efficiency

3.9

Ireland

0.5

Subtotal Energy Transition:

35.1

Other Africa

0.3

Traditional Energy:

Net Current Liabilities

-1.3

Integrated

11.9

-----

Oil Services

8.9

100.0

E&P

3.3

=====

Distribution

2.7

Refining & Marketing

1.7

Subtotal Energy:

28.5

Other:

Other

0.7

Subtotal Other:

0.7

Net Current Liabilities^

-1.3

-----

100.0

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^ Total Assets for the purposes of these calculations exclude bank overdrafts, and the net current assets figure shown in the tables above therefore exclude bank overdrafts equivalent to 4.3% of the Company’s net asset value.

Ten Largest Investments

Company

Region of Risk

% Total Assets

Glencore

Global

5.4

Anglo American

Global

5.4

Vale - ADS

Latin America

5.0

Shell

Global

3.7

First Quantum Minerals

Global

3.3

TotalEnergies

Global

3.2

Nextpower

United States

3.1

Chevron Corporation

Global

2.9

Prysmian SpA

Italy

2.9

EDP Renovaveis

Global

2.7

Commenting on the markets, Tom Holl and Mark Hume, representing the Investment Manager noted: Performance across the Company’s underlying exposures was negative in June. The mining segment experienced the sharpest decline, followed by conventional energy, while energy transition proved comparatively resilient. Expectations of higher interest rates, US dollar strength and weaker-than-expected Chinese economic data weighed on mined commodity prices during the month. Gold ended June down 12.1%, as the US 10-year Treasury yield increased from 4.4% to 4.5% and the DXY Index rose from 98.9 to 101.2. Elsewhere, copper, iron ore (62% Fe) and aluminium declined by 1.1%, 6.3% and 15.4%, respectively. Aluminium was particularly weak as supply concerns eased following the signing of a Memorandum of Understanding between the US and Iran. The Strait of Hormuz and the wider Middle East region are strategically important for global aluminium smelting, and the agreement reduced fears of supply disruption. These geopolitical developments also prompted a significant correction in oil prices, weighing on conventional energy equities. Brent crude fell 24.1% and WTI crude declined 22.6%, ending the month at US$74/bbl and US$71/bbl, respectively. President Trump announced the reopening of the Strait of Hormuz, while a subsequent US Treasury ruling granted a 60-day sanctions waiver allowing Iran to resume oil and fuel exports through August. These developments, combined with OPEC+’s decision to increase July production quotas by a further 188,000 barrels per day, contributed to a sharp decline in near-term oil prices. Energy transition holdings were least affected by these geopolitical developments and held up relatively well. Within the Company’s energy transition exposure, allocations to Energy Efficiency and Electrification contributed positively to returns, while the Renewables allocation detracted. Figures sourced from Datastream; prices quoted in US Dollar terms unless specified otherwise as at 30 June 2026. 20 July 2026

ENDS

Latest information is available by typing www.blackrock.com/uk/beri on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal).   Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement.

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Release

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