Company: BLE
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230217
Chunk: 73

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-10-03
Form: N-CSR
Chunk 73
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 legal counsel throughout the deliberative process.

112 2025 BlackRock Annual Report to Shareholders

Investment Objectives, Policies and Risks

Recent Changes The following information is a summary of certain changes since July 31, 2024 . This information may not reflect all of the changes that have occurred since you purchased the relevant Fund. Effective September 12, 2024, BlackRock Investment Quality Municipal Trust, Inc. (BKN) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policies to the extent that they provide investment exposure to the securities included within each policy or to one or more market risk factors associated with such securities. The Fund also clarified that its policy of investing at least 80% of its assets in Municipal Bonds may not be changed without shareholder approval. Effective September 12, 2024, BlackRock Municipal Income Trust (BFK) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Effective September 12, 2024, BlackRock Municipal Income Trust II (BLE) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Effective September 12, 2024, BlackRock MuniHoldings Fund, Inc. (MHD) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Effective September 12, 2024, BlackRock MuniVest Fund, Inc. (MVF) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. Effective September 12, 2024, BlackRock MuniVest Fund II, Inc. (MVT) added a policy that the Fund’s investments in derivatives will be counted toward the Fund’s 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market