BLACKROCK CLOSED-END FUNDS

Voting item

At this year's shareholder meeting, a hedge fund investor is seeking to take control of ECAT's Board.

When you receive ECAT’s proxy statement, closely review the proposal and vote your shares on the WHITE proxy card online, by phone or by mail.

Cast your vote Cast your vote

Proposal

ECAT’s current Board Nominees listed on the WHITE proxy card have experience that demonstrates they operate in the best interest of shareholders. Your Board believes the hedge fund investor’s proposals could have harmful implications.

Closely review the proposal below and vote your shares on the WHITE proxy card.

Trustee nominations

Vote “FOR” the Board Nominees
Your vote is extremely important because the replacement of ECAT’s Board of Trustees may put your Fund at risk. The Board members responsible for the Fund recommend that you vote “FOR” the Board Nominees by voting on the WHITE proxy card.

View Board Nominees

Why vote for ECAT’s Board Nominees?

Your Board Nominees have proactively taken actions that have benefited shareholders.
Your Board Nominees collectively have extensive experience with registered CEFs generally, and specifically with ECAT, its investment objectives and strategy.
Each independent Board Nominee serves the interests of all shareholders equally.

Cynthia L. Egan

Former President of Retirement Plan Services at T. Rowe Price Group. Board Chair for The Hanover Insurance Group and Lead Independent Director for Huntsman Corporation.

Sir Robert Fairbairn

Vice Chairman and member of the Global Executive Committee at BlackRock. Co-Chair of BlackRock’s Human Capital Committee.

Lorenzo A. Flores

Chief Financial Officer, Lattice Semiconductor Corporation (LSCC), Former Chief Financial Officer at Intel Foundry. Former Vice Chairman at Kioxia, Inc. Former Chief Financial Officer and Corporate Controller at Xilinx, Inc.

Stayce D. Harris

Former Lieutenant General, Inspector General, Office of the Secretary of the U.S. Air Force. Board Director for The Boeing Company.

J. Phillip Holloman

Interim Executive Chairman, President and Chief Executive Officer of Vestis Corporation. Former President and Chief Operating Officer of Cintas Corporation.

R. Glenn Hubbard

Former Chairman of the U.S. Council of Economic Advisers of the President of the United States. Dean Emeritus of Columbia Graduate Business School. Professor of Finance and Economics.

W. Carl Kester

Professor of Business Administration, Emeritus at Harvard Business School. Professor and author in finance, expert in corporate finance and corporate governance.

John M. Perlowski

President and Chief Executive Officer of BlackRock's US Retail Mutual Funds.

Arthur P. Steinmetz

Former Chairman, Chief Executive Officer and President of the Oppenheimer Funds, Inc. Former Director of Scotia Bank (U.S.).

How Do I Vote?

Vote Online: Log on to www.proxy-direct.com. Follow onscreen instructions.

Vote by phone: Call 1-866-961-8444 . Follow the recorded instructions.

Vote by mail: Vote, sign, and date your WHITE Proxy Card and return in the postage-paid envelope.

Click here to vote Click here to vote

You may receive a proxy card from the activist investor. Please do NOT send back any proxy card other than the WHITE proxy card you receive from BlackRock, as this will cancel your prior vote for ECAT’s Board Nominees. Only your latest vote will count.

Vote now on the WHITE proxy card Vote now on the WHITE proxy card

For more information on your investment, email cef@blackrock.com. If you have any questions about the proposals to be voted, please contact Georgeson LLC (“Georgeson”), toll free at 1-866-441-6128.