Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 175

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 175
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 may result in                                                   
 substantially different returns. Where applicable, excludes the effects of any sales charges and assumes the reinvestment of distributions at actual reinvestment prices. |

| (e) | Not annualized. |

| (f) | Excludes fees and expenses incurred indirectly as a result of investments in underlying funds. |

| (g) | Annualized. |

| (h) | Includes non-recurring expenses of reorganization costs. Without these costs,                                        
 total expenses and total expenses after fees waived and/or reimbursed would have been 3.25% and 3.12%, respectively. |

| (i) | Reorganization costs were not annualized in the calculation of the expense ratios. If these expenses were annualized, the 
 total expenses and total expenses after fees waived and/or reimbursed would have been 3.27% and 3.14%, respectively.      |

| (j) | Audit and printing costs were not annualized in the calculation of the expense ratios. If these expenses were annualized,                                                                                                                     
 the total expenses, total expenses after fees waived and/or reimbursed and total expenses after fees waived and/or reimbursed and excluding interest expense, fees and amortization of offering costs would have been 2.35%, 2.35% and 1.08%, 
 respectively.                                                                                                                                                                                                                                 |

| (k) | Interest expense, fees and amortization of offering costs related to TOB Trusts and/or VMTP Shares. See Note 4 and Note 10 
 of the Notes to Financial Statements for details.                                                                          |

| (l) | Calculated by subtracting the Fund’s total liabilities (not including VMTP Shares and TOBs) from the Fund’s                                          
 total assets and dividing this by the sum of the amount of TOBs and liquidation value of the VMTP Shares, and by multiplying the results by 100,000. |

99

| (m) | Calculated by subtracting the Fund’s total liabilities (not including VMTP Shares) from the Fund’s total assets 
 and dividing this by the liquidation value of the VMTP Shares, and by multiplying the results by 100,000.       |

| (n) | Effective July 18, 2022, TOB Trust Certificates are treated as senior securities pursuant to Rule 18f-4 of the 1940 Act. Calculated by subtracting the Fund’s total liabilities (not including VMTP Shares and TOBs) from the Fund’s total assets and