BlackRock North American Income Trust plc commences share repurchases on July 27, 2020, under the program mandated by the shareholders in the Annual General Meeting held on March 20, 2020. As per the mandate, the company is authorized to repurchase up to 12,172,486 shares, representing 14.99% of its issued capital. The minimum price which may be paid per ordinary share will be £0.01. The maximum price which may be paid for any ordinary share shall be equal to the amount 105% of the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. The program will expire at the conclusion of the next Annual General Meeting unless previously renewed, varied or revoked by the company in a general meeting.