BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST

BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST (BFZ) is a diversified, closed-end management investment company that aims to provide current income exempt from regular U.S. federal income and California income taxes. The Trust, launched on July 31, 2001, and managed by BlackRock Advisors, LLC, primarily invests in a portfolio of investment-grade municipal obligations. These obligations include general obligation bonds, revenue bonds, and other limited-obligation securities issued by California state and local governments, which finance infrastructure and public services across the state. Under normal market conditions, at least 80% of the Trust's assets are invested in municipal obligations that are of investment-grade quality and are exempt from federal and California income taxes. The fund's investment objective emphasizes tax-exempt income through active portfolio management. The portfolio management team conducts credit analysis on issuers, monitors interest rate risk, and adjusts sector allocations to respond to market developments. BFZ is listed on the New York Stock Exchange and offers investors daily liquidity through its traded shares and monthly distributions. In February 2026, BFZ was merged into the BlackRock MuniHoldings California Quality Fund, Inc. (MUC) as part of a broader consolidation of several BlackRock municipal closed-end funds. Sources: [1] https://www.blackrock.com/us/individual/literature/fact-sheet/california-municipal-income-trust-usd-factsheet-us09248e1029-us-en-individual.pdf [2] https://www.marketbeat.com/stocks/NYSE/BFZ/ [3] https://ng.investing.com/equities/blackrock-california-muniome-closed-company-profile [4] https://public.com/stocks/bfz [5] https://robinhood.com/us/en/stocks/BFZ/ [6] https://www.perplexity.ai/finance/BFZ/financials