BlackRock Enhanced Government Fund, Inc. announces expiration of its annual buyback offer

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NEW YORK–(COMMERCIAL THREAD) – BlackRock Enhanced Government Fund, Inc. (the “Fund”) (NYSE: EGF, CUSIP: 09255K108) has announced the expiration of the Fund’s annual repurchase offer for its common shares (the “Repurchase Offer “). The tender offer and opt-out rights expired at 5:00 p.m. Eastern time on November 16, 2021. The Fund has offered to repurchase up to 5% of its issued and outstanding common shares (the “ Shares ”) for cash at a price equal to the net asset value of the Shares at the close of regular trading on the New York Stock Exchange on November 16, 2021, subject to a redemption fee of 2% of the value of the redeemed Shares. , which will be deducted from the redemption price. As of Tuesday, November 16, 2021, 4,262,034 shares of the Fund were outstanding. A redemption amount of 5% of the Shares outstanding as of November 16, 2021 would represent approximately 213,101 Shares.

Preliminary tally by Computershare Trust Company, NA, the custodian of the Fund, indicated that approximately 119,707 shares (approximately 2.8% of the Fund’s shares outstanding as of November 16, 2021) have been validly deposited and not withdrawn. before the expiry of the fund redemption. Offer. This determination is subject to final confirmation and proper delivery of all deposited and non-withdrawn Shares.

The Shares validly tendered and accepted will not give the right to any dividend or distribution from the Fund with a registration date from November 24, 2021.

The Fund is a diversified and private management investment company. The investment objective of the Fund is to provide shareholders with current income and earnings.

No member of the Fund, its investment advisor or its Board of Directors has made a recommendation to a shareholder as to the advisability of tendering or not tendering Shares in connection with the Offer to buy back.

For client specific information regarding the tender offer, please contact your broker or financial advisor, or in the case of registered shareholders, Computershare Trust Company, NA, which is acting as depositary agent in connection with the buyout offer.

About BlackRock

BlackRock’s goal is to help more and more people experience financial well-being. As an investor trustee and a leading fintech provider, we help millions of people build savings for their lifetimes by making investing easier and more affordable. For more information on BlackRock, please visit www.blackrock.com | Twitter: @rocknoir | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

Availability of fund updates

BlackRock will update the performance and certain other data of the BlackRock closed-end funds (the “Funds”) on a monthly basis on its website in the “Closed-end funds” section of www.blackrock.com as well as certain other information. important. as needed from time to time. Investors and others are encouraged to consult the website for updated performance information and the publication of other important information about the Fund. This reference to the BlackRock website is intended to provide investors with public access to information about the Fund and does not incorporate, and is not intended to, incorporate the BlackRock website in this release.

Forward-looking statements

This press release, and other statements that BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, regarding the future performance, strategies or financial or business expectations of the Fund or BlackRock. Forward-looking statements are generally identified by words or phrases such as “trend”, “potential”, “opportunity”, “project”, “believe”, “comfortable”, “expect”, “anticipate”, ” current “,” “intention”, “estimate”, “position”, “assume”, “prospect”, “continue”, “remain”, “maintain”, “maintain”, “seek”, “achieve” and expressions similar, or future or conditional verbs such as “will”, “would”, “should”, “could”, “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to many assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date on which they are made, and BlackRock assumes no obligation and does not undertake to update any forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, interest rate environment, currency exchange rates or financial and capital markets, which could cause variations in demand for the Fund or in the net asset value of the Fund; (2) the relative and absolute performance of the Fund’s investments and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distribution or repurchase of shares; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions by government agencies relating to the Fund or BlackRock, depending on the case ; (8) terrorist activities, international hostilities and natural disasters, which can negatively affect the general economy, national and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock’s choice to provide support for its products from time to time; and (11) the impact of problems in other financial institutions or the failure or negative performance of products in other financial institutions.

The Fund’s annual and semi-annual reports and other regulatory documents with the Securities and Exchange Commission (“SEC”) are available on the SEC’s website at www.sec.gov and on the BlackRock website at www.blackrock.com, and may discuss these or other factors that affect the Fund. The information contained on the BlackRock website does not form part of this press release.

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