On December 26, 2023, Saba Capital Master Fund, Ltd., announced that on December 22, 2023, it has sent a letter to BlackRock Capital Allocation Term Trust containing a shareholder proposal under Rule 14a-8, for presentation to the Company's shareholders at the Company's 2024 annual meeting of shareholders, to terminate the management agreement between BlackRock Capital Allocation Term Trust and BlackRock Advisors, LLC, dated September 18, 2020, as since amended or novated shall be terminated by the Fund, pursuant to the right of stockholders as embodied in Section 12 of the Management Agreement and Section 15(a)(3) of the Investment Company Act of 1940, such termination to be effective no more than sixty days following the date hereof.