Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 255

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 255
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 excess or deficiency occurs or exists immediately after and as a result of the acquisition of securities. Any investment policy or restriction described herein is deemed to be a non-fundamental policyor restriction of BFK, unless otherwise stated. In addition, to comply with Federal tax requirements for qualification as a “regulated investment company,” BFK’s investments will be limited in a manner such that at the close of each quarter of each taxable year, (a) no more than 25% of the value of BFK’s total assets are invested in the securities (other than United States government securities or securities of other regulated investment companies) of a single issuer or two or more issuers controlled by BFK and engaged in the same, similar or related trades or businesses and (b) with regard to at least 50% of BFK’s total assets, no more than 5% of its total assets are invested in the securities (other than United States government securities or securities of other regulated investment companies) of a single issuer and such securities do not represent more than 10 percent of the voting securities of such issuer. These tax-related limitationsmay be changed by the trustees to the extent appropriate in light of changes to applicable tax requirements. BFK is currently classified as a diversified fund under the 1940 Act. This means that BFK may not purchase securities of an issuer (other than (i) obligations issued or guaranteed by the U.S. government, its agencies or instrumentalities and (ii) securities of other investment companies) if, with respect to 75% of its total assets, (a) more than 5% of BFK’s total assets would be invested in securities of that issuer or (b) BFK would hold more than 10% of the outstanding B-7

voting securities of that issuer. For purposes of this restriction, BFK will regard each state and each political subdivision, agency or instrumentality of such state and each multi-state agency of which such state is a member and each public authority which issues securities on behalf of a private entity as a separate issuer, except that if the security is backed only by the assets and revenues of a non-governmententity then the entity with the ultimate responsibility for the payment of interest and principal may be regarded as the sole issuer. With respect to the remaining 25% of its total assets, BFK can invest more than 5% of its assets in one issuer. Under the 1940 Act, a fund cannot change its classification from diversified to non-diversifiedwithout shareholder