BlackRock American Income Trust plc Updates Issued Share Capital and Voting Rights Denominator as of 22 July 2026

Overview of BlackRock American Income Trust plc's Share Capital Structure

BlackRock American Income Trust plc, listed on the London Stock Exchange, serves as an investment trust focused on generating income through American equities. It offers UK investors exposure to the US equity market within a professionally managed investment framework. Understanding the trust’s share capital structure is essential for grasping how ownership and voting rights are managed.

As of 22 July 2026, the Company’s issued share capital comprises 61,560,138 Ordinary Shares, each granting one vote. This total represents the shares currently held by investors and actively traded. These shares constitute the sole voting rights denominator for shareholder voting power and regulatory notification calculations. Additionally, the Company holds 33,801,167 treasury shares, which are repurchased shares held by the Company without voting rights.

Impact of Treasury Shares on Voting Rights

The Company holds 33,801,167 Ordinary Shares as treasury shares at the same date. Treasury shares are repurchased shares held in the Company’s own name and do not carry voting rights or dividend entitlements. These shares may be reissued or cancelled in the future based on Company and shareholder decisions. Treasury shares are a common feature used for capital management or employee share schemes.

This distinction between issued and treasury shares is critical for shareholders assessing total voting power. Although the Company holds treasury shares, these do not influence the voting denominator for notification purposes. Shareholders must use the 61,560,138 issued shares figure when determining if their holdings trigger FCA notification requirements. This separation prevents treasury shares from artificially inflating the denominator used in regulatory calculations.

Compliance with FCA Disclosure Guidance and Transparency Rules

This announcement complies with the FCA’s Disclosure Guidance and Transparency Rules, specifically provision 5.6.1, which mandates regular disclosure of issued share capital by listed companies. This regulatory framework ensures investors and market participants have access to consistent information about a company’s voting structure. The rules, outlined in the FCA Handbook, apply to all UK-listed companies.

Article 15 of the Transparency Directive, implemented via FCA rules, requires the denominator for shareholder notification calculations to be the number of shares carrying voting rights. By issuing this notification, BlackRock American Income Trust plc enables shareholders to accurately assess whether changes in their holdings require reporting to the Company and FCA. This routine disclosure supports transparency and maintains the integrity of the UK listing regime.

Using the Denominator to Calculate Shareholder Notification Obligations

Shareholders must use the 61,560,138 figure as the denominator to determine if they must notify their interests under FCA Rules. Notification thresholds are set at specific voting rights percentages, and shareholders calculate their holdings by dividing their shares by this denominator. Notification is required when holdings cross thresholds such as 3%, 5%, 10%, 15%, 20%, 25%, 30%, 50%, and 75%, although exact thresholds may vary.

For example, acquiring shares exceeding 5% voting rights triggers a notification obligation to the Company and FCA, typically within two trading days. Providing the denominator ensures shareholders can calculate these thresholds accurately, avoiding inadvertent breaches of FCA rules by failing to notify or notifying unnecessarily.

BlackRock Investment Management’s Role as Company Secretary

The notification was issued by William Rowledge on behalf of BlackRock Investment Management (UK) Limited, acting as Company Secretary. BlackRock Investment Management (UK) Limited manages BlackRock American Income Trust plc and provides investment management and administrative services. The Company Secretary ensures compliance with regulatory obligations, including FCA and Transparency Directive disclosures.

BlackRock’s involvement highlights the professional governance and regulatory compliance supporting the trust. As one of the world’s largest investment managers, BlackRock brings extensive expertise in managing listed investment trusts and regulatory adherence. Shareholders and market participants can contact the Company at 0207 743 2284 for administrative or regulatory inquiries.

Significance of the 22 July 2026 Disclosure Date

The share capital notification dated 22 July 2026 provides investors with a current snapshot of the Company’s share capital structure. This date marks the latest formal notification under FCA rules. Any subsequent share repurchases, issuances, or cancellations will require updated disclosures.

Investors monitoring or acquiring shares must use this denominator for notification calculations as of that date. As the share capital position changes over time, updated notifications will be necessary. Investors should regularly check for these updates to ensure compliance with notification requirements. The frequency of changes depends on the Company’s capital management and market activity.

Clarifying Issued Shares Versus Total Share Capital

The announcement clarifies the difference between issued shares with voting rights and treasury shares held by the Company. The 61,560,138 issued shares represent the voting capital, while the 33,801,167 treasury shares are excluded from voting and dividends but remain on the balance sheet.

Investors should note that the total shares ever issued may exceed the sum of issued and treasury shares if any shares have been cancelled. This disclosure focuses on the current voting and treasury shares, reflecting a typical structure for mature listed investment trusts that use share buybacks as part of capital management to enhance shareholder value or manage fund size.

Regulatory Environment for Investment Trusts and Listed Companies

BlackRock American Income Trust plc operates under the FCA’s regulatory framework, including Listing Rules and Disclosure Guidance and Transparency Rules, designed to ensure fair and transparent markets and investor protection. Share capital and voting rights disclosures are a key element of this framework, providing material information to investors.

Investment trusts, as closed-ended funds listed on exchanges, have additional regulatory requirements covering investment policy, borrowing limits, share buybacks, and investment disclosures. The share capital notification aligns with standard regulatory obligations for all listed companies and is particularly important for investment trusts where changes in major shareholdings may prompt activism or management changes.

Standard Market Practice for Share Capital Notifications

Regular disclosure of share capital and voting denominators is standard practice for UK-listed companies, typically issued quarterly or annually depending on share capital changes. These notifications are widely used by shareholders, advisors, compliance teams, and regulators. BlackRock American Income Trust plc’s announcement follows FCA requirements and aligns with market conventions.

For investors and professionals managing multiple holdings, standardized notifications ensure access to current data for compliance. This official record clarifies the denominator for shareholder notification calculations. Shareholders uncertain about their obligations should consult investment advisers or legal counsel, but this notification provides the factual basis for all such calculations.