Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 257

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 257
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 than 25% of its total assets (taken at market value at the time of each investment) in                                                                                                  
 securities of issuers in a single industry; provided, that for purposes of this restriction, states, municipalities and their political subdivisions are not considered to be part of any industry. |

For purposes of restriction (6), the exception for states, municipalities and their political subdivisions applies only to tax-exemptsecurities issued by such entities. Additional investment restrictions adopted by MUE, which may be changed by MUE’s Board without shareholder approval, provide that MUE may not:

| 1. | Purchase securities of other investment companies, except to the extent that such purchases are permitted by                                                                                       
 applicable law. Applicable law currently prohibits MUE from purchasing the securities of other investment companies except if immediately thereafter not more than (i) 3% of the total outstanding |

B-8

| voting stock of such company is owned by MUE, (ii) 5% of MUE’s total assets, taken at market value, would be invested in any one such company, (iii) 10% of MUE’s total assets, taken at                                                           
 market value, would be invested in such securities, and (iv) MUE, together with other investment companies having the same investment adviser and companies controlled by such companies, owns not more than 10% of the total outstanding stock of 
 any one closed-end investment company;                                                                                                                                                                                                             |

| 2. | Mortgage, pledge, hypothecate or in any manner transfer, as security for indebtedness, any securities owned                                                                                                                                
 or held by MUE except as may be necessary in connection with borrowings mentioned in investment restriction (3) above or except as may be necessary in connection with transactions in financial futures contracts and options thereon; or |

| 3. | Purchase any securities on margin, except that MUE may obtain such short-term credit as may be necessary for                                                                                                                                           
 the clearance of purchases and sales of portfolio securities (the deposit or payment by MUE of initial or variation margin in connection with financial futures contracts and options thereon is not considered the purchase of a security on margin). |

| 4. | Make short sales of securities or maintain a short position or invest in put, call, straddle or spread                                                                                                                                                    
 options, except that MUE may write, purchase and sell options and futures on New York municipal bonds, municipal bonds, U.S. Government obligations and related indices or otherwise in connection with bona fide hedging