Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 53

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 53
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 a contractual management fee through June 30, 2026. The contractual agreement may be terminated upon 90 days’ notice by a majority of the Funds ’ Independent Directors, or by a vote of a majority of the outstanding voting securities of the Fund. For the six months ended January 31, 2025, there were no fees waived by the Manager pursuant to this arrangement. With respect to each Fund, the Manager voluntarily agreed to waive a portion of its investment advisory fee attributable to each Fund’s outstanding preferred shares for each month in which the monthly dividend on the Fund’s preferred shares exceeds the calculated value of the Fund’s gross monthly income attributable to investments from the proceeds of the preferred shares (determined by multiplying the Fund’s gross monthly income by the ratio of (i) the liquidation preference of any outstanding preferred shares to (ii) total assets of the Fund minus the sum of its accrued liabilities (which does not include liabilities represented by TOB Trusts and the liquidation preference of any outstanding preferred shares). This voluntary waiver may be reduced or discontinued at any time without notice. These amounts are included in fees waived and/or reimbursed by the Manager in the Statements of Operations. For the six months ended January 31, 2025, the amounts waived were as follows:

| Fund Name | Fees Waived and/or Reimbursedby the Manager |
| BKN       |                                    $120,843 |
| BFK       |                                     315,100 |
| BLE       |                                     375,813 |
| MHD       |                                     429,570 |
| MVF       |                                     277,643 |
| MVT       |                                     156,940 |
| MQT       |                                     145,788 |

100 2025 BlackRock Semi-Annual Report to Shareholders

Notes to Financial Statements (unaudited) (continued)

The Manager reimbursed BLE $13,364 for reorganization cost. Directors and Officers: Certain directors and/or officers of the Funds are directors and/or officers of BlackRock or its affiliates. The Funds reimburse the Manager for a portion of the compensation paid to the Funds ’ Chief Compliance Officer, which is included in Directors and Officer in the Statements of Operations. 7. PURCHASES AND SALES For the six months ended January 31, 2025, purchases and sales of investments, excluding short-term securities, were as follows:

| Fund Name |   Purchases |       Sales |
| BKN       | $51,787,428 | $28,378