Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 9

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 9
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 federal tax rate of 40.8%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions anddeductions. Lower taxes will result in lower tax equivalent yields.                                                                                                                                                                                                                         |
| (c) | The distribution rate is not constant and is subject to change. A portion of the distribution may be deemed a return of capital or net realized gain.                                                                                                                                                                                                                                                                                                                         |
| (d) | Represents VMTP Sharesand TOB Trustsas a percentage of total managed assets, which is the total assets of the Fund, including any assets attributable to VMTP Shares and TOBTrusts, minus the sum of its accrued liabilities. Does not reflect derivatives or other instruments that may give rise to economic leverage. For a discussion of leveraging techniquesutilized by the Fund, please see The Benefits and Risks of Leveraging and Derivative Financial Instruments. |

Market Price and Net Asset Value Per Share Summary

|                      | 01/31/25 | 07/31/24 | Change |   High |   Low |
| Closing Market Price |   $10.25 |   $10.23 |  0.20% | $10.72 | $9.79 |
| Net Asset Value      |    11.16 |    11.43 |  -2.36 |  11.66 | 11.01 |

Performance Returns for the period ended January 31, 2025 were as follows:

|                                            |         | Average Annual Total Returns |         |          |
|                                            | 6-month |                       1 Year | 5 Years | 10 Years |
| Fund at NAV(a)(b)                          |   0.50% |                        2.33% | (0.78)% |    2.04% |
| Fund at Market Price(a)(b)                 |    3.13 |                         7.46 |   -2.11 |     1.61 |
| National Customized Reference Benchmark(c) |    1.12 |                         2.62 |    0.90 |      N/A |
| Bloomberg Municipal Bond Index(d)          |    1.05 |                         2.08 |    0.73 |     2.12 |

| (a) 
 (b) 
 (c) | All returns reflect reinvestment of dividends and/or distributions at actual reinvestment prices. Performance results reflect the Fund’s use of leverage