Blackrock Engy Regulatory News (BERI)

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

All information is at 31 July 2025 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

4.8%

14.6%

2.4%

3.5%

17.4%

129.6%

Share price

7.0%

17.1%

3.2%

5.6%

19.7%

134.7%

Sources: Datastream, BlackRock

At month end

Net asset value – capital only:

132.29p

Net asset value cum income1:

132.64p

Share price:

122.00p

Discount to NAV (cum income):

8.0%

Net yield:

3.7%

Gearing - cum income:

9.1%

Total assets:

£152.1m

Ordinary shares in issue2:

114,704,497

Gearing range (as a % of net assets):

0-20%

Ongoing charges3:

1.15%

1 Includes net revenue of 0.35p.

2 Excluding 20,881,697 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 2024. 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

37.2%

Energy Transition

33.0%

Traditional Energy

29.9%

Net Current Liabilities

-0.1%

-----

100.0%

=====

Sector Analysis

% Total Assets^

Country Analysis

% Total Assets^

Mining:

Global

46.6

Diversified

18.2

United States

21.6

Gold

4.0

Latin America

6.3

Copper

3.6

Canada

6.2

Industrial Minerals

3.1

United Kingdom

6.0

Materials

2.0

Germany

3.2

Steel

1.6

Italy

2.9

Uranium

1.2

Australia

2.5

Aluminium

1.0

Spain

1.5

Nickel

Platinum Group Metals

Silver

Subtotal Mining:

0.9

0.8

0.8

37.2

Other Africa

South Africa

Morocco

Ireland

1.1

0.8

0.8

0.6

Net Current Liabilities

-0.1

Energy Transition:

100.0

Electrification

11.5

Renewables

8.2

Energy Efficiency

7.2

Storage

5.7

Transport

0.4

Subtotal Energy Transition:

33.0

Traditional Energy:

Integrated

15.6

Oil Services

5.4

E&P

3.9

Distribution

2.3

Refining & Marketing

1.8

Exploration & Production

0.9

Subtotal Traditional Energy:

29.9

Net Current Liabilities

-0.1

-----

100.0

=====

^ Total Assets for the purposes of these calculations exclude bank overdrafts, and the net current liabilities figure shown in the tables above therefore exclude bank overdrafts equivalent to 9.0% of the Company’s net asset value.

Ten Largest Investments

Company

Region of Risk

% Total Assets

Vale - ADS

Latin America

5.9

Anglo American

Global

4.3

Shell

Global

4.1

Exxon Mobil Corp

Global

3.6

Chevron Corporation

Global

3.4

NiSource

United States

3.3

Glencore

Global

3.1

Prysmian SpA

Italy

2.9

Abaxx Technologies

Global

2.9

Elia Group

Germany

2.8

Commenting on the markets, Tom Holl and Mark Hume, representing the Investment Manager noted:

July delivered an unexpected calm across global financial markets. Despite ongoing headlines around trade tensions, fiscal uncertainty, and regulatory shifts, volatility remained muted. In sector-specific news, the passage of the “One Big Beautiful Bill” early in the month provided long-awaited clarity on US energy policy. While some tax incentives introduced under the Inflation Reduction Act were scaled back, the bill preserved support for utility-scale renewables removing a key overhang for the energy transition sector. The conventional energy sector also performed well on strength in oil prices. During the month, the US Administration threatened secondary sanctions on countries purchasing Russian oil, including India and China. Brent and WTI oil prices rose by 7.7% and 6.1% respectively.

Meanwhile, the mining sector was relatively flat over the month on the back of mixed performance from mined commodities. The bulk commodities performed well with, for example, the iron ore (62% fe) price rising by 6.5%. This followed some improvement in economic data points from China, such as improving liquidity conditions and less significant annual declines in property prices. The market also reacted positively to China announcing an ‘anti-involution’ push whereby it is seeking to take out capacity in a number of loss-making industries. The base metals performed less well, however, with copper, nickel and aluminium prices falling by 4.9%, 1.9% and 1.3% respectively.

All data points in US dollar terms unless otherwise specified. Commodity price moves sourced from Thomson Reuters Datastream.

21 August 2025

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.