BlackRock Energy and Resources Income Trust Plc - Portfolio Update

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

All information is at 31 May 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

1.5%

4.2%

26.8%

73.9%

84.8%

142.6%

Share price

4.2%

4.0%

34.9%

85.9%

99.6%

134.3%

Sources: Datastream, BlackRock

At month end

Net asset value – capital only:

204.16p

Net asset value cum income 1 :

   204.97p

Share price:

199.00p

Discount to NAV (cum income):

2.9%

Net yield:

2.9%

Net Gearing - cum income:

4.8%

Total assets:

£207.2m

Ordinary shares in issue 2 :

101,076,997

Gearing range (as a % of net assets):

0-20%

Ongoing charges 3 :

1.15%

1 Includes net revenue of 0.81p.

2 Excluding 34,509,197 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

36.5%

Energy Transition

32.5%

Traditional Energy

30.4%

Other

0.6%

Net Current Liabilities

–%

-----

100.0%

=====

Sector Analysis

% Total Assets^

Country Analysis

% Total Assets^

Mining:

Global

52.4

Diversified

22.9

United States

12.5

Gold

5.2

Latin America

6.3

Copper

4.6

Canada

5.7

Industrial Minerals

2.0

North America

5.3

Steel

0.7

France

2.7

Aluminium

0.6

Italy

2.7

Platinum Group Metals

0.5

Germany

2.3

Subtotal Mining:

36.5

United Kingdom

1.9

China

1.8

Energy Transition:

Europe

1.8

Renewables

11.0

Spain

1.6

Electrification

9.9

Australia

1.2

Storage

6.8

Ireland

1.0

Energy Efficiency

4.8

South Africa

0.5

Subtotal Energy Transition:

32.5

Other Africa

0.3

Traditional Energy:

Net Current Liabilities^

–

Integrated

13.0

-----

Oil Services

8.7

100.0

E&P

4.9

=====

Distribution

2.3

Refining & Marketing

1.5

Subtotal Traditional Energy:

30.4

Other:

Other

0.6

Subtotal Other:

0.6

Net Current Liabilities^

–

-----

100.0

=====

^ 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 4.9% of the Company’s net asset value.

Ten Largest Investments

Company

Region of Risk

% Total Assets

Glencore

Global

5.7

Anglo American

Global

4.9

Vale - ADS

Latin America

4.7

Abaxx Technologies

Global

4.5

Chevron Corporation

Global

4.3

Shell

Global

3.6

TotalEnergies

Global

3.2

Prysmian SpA

Italy

2.7

Nextpower

United States

2.5

EDP Renovaveis

Global

2.5

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

Performance across the Company’s underlying components remained mixed in May. The energy transition and mining segments generated positive returns, while conventional energy declined.

Conventional energy equities came under pressure as Brent crude fell by 19.4%, reflecting increased expectations of a resolution to the US–Israel conflict with Iran. However, there was no meaningful change in conditions around the Strait of Hormuz, with shipping still severely constrained by month-end.

Within the energy transition allocation, the renewables sub-sector was the most significant contributor to performance. Ongoing energy security concerns, alongside rising expectations for global power demand, partly driven by artificial intelligence, supported momentum in the space. Several solar companies also reported strong earnings during the month, benefiting from robust utility-scale demand.

In mining, copper and aluminium holdings led performance, supported by supply constraints, with prices of the metals rising by 4.6% and 2.8%, respectively.

Figures sourced from Datastream; prices quoted in US dollar terms unless specified otherwise as at 31 May 2026.

18 June 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.