Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 19

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 19
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 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 |   $10.73 |   $11.04 | (2.81)% | $11.70 | $10.43 |
| Net Asset Value      |    12.08 |    12.40 |   -2.58 |  12.69 |  11.79 |

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)                          |   0.24% |                        2.50% | (0.34)% |    2.16% |
| Fund at Market Price(a)(b)                 |    0.01 |                         5.81 |   -2.23 |     0.95 |
| 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, if any.                                                                                                                                                
 TheFund’s discount to NAV widened during the period, which accounts for the difference between performance based on market price and performance based on NAV.                                                                                                                                                   
 The National Customized Reference Benchmark is comprised of the Bloomberg Municipal Bond Index Total Return Index Value Unhedged (90%) and the Bloomberg Municipal