Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 45

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 45
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Acquiring Fund, the Acquiring Fund will be the accounting survivor of each Reorganization. The Combined Fund will also maintain the performance history of the Acquiring Fund at the closing of the Reorganization.

Each Reorganization is not contingent upon the approval of any other Reorganization. If a Reorganization is not consummated, the Fund for
which such Reorganization(s) was not consummated would continue to exist and operate on a standalone basis. Both the Target Fund and the Acquiring Fund will continue to be advised by the Investment Advisor. If a Reorganization is not consummated,
the Investment Advisor may recommend alternative proposals to the Board of each Fund for which such Reorganization was not consummated.

The Board’s Recommendation

The Board of BLE recommends that the VMTP Holders of BLE vote “FOR” the proposed BLE
Reorganization Agreement at the Special Meeting.

The Board of BYM recommends that the VMTP Holders of BYM vote “FOR” the
proposed BYM Reorganization Agreement at the Special Meeting.

The Board of BFK recommends that the VMTP Holders of BFK vote
“FOR” the proposed BFK Reorganization Agreement at the Special Meeting.

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The Board of MUE recommends that the VMTP Holders of MUE vote “FOR” the proposed
MUE Reorganization Agreement at the Special Meeting.

The Board of the Acquiring Fund recommends that VMTP Holders of the Acquiring Fund
vote “FOR” the proposed BLE Issuance at the Special Meeting.

The Board of the Acquiring Fund recommends that VMTP Holders of
the Acquiring Fund vote “FOR” the proposed BYM Issuance at the Special Meeting.

The Board of the Acquiring Fund recommends
that VMTP Holders of the Acquiring Fund vote “FOR” the proposed BFK Issuance at the Special Meeting.

The Board of the
Acquiring Fund recommends that VMTP Holders of the Acquiring Fund vote “FOR” the proposed MUE Issuance at the Special Meeting.

Shareholder approval of the BLE Reorganization Agreement requires (i) with respect to Proposal 1(A), the affirmative vote of the holders
of a 1940 Act Majority (as defined below) of the outstanding BLE common shares and BLE VMTP Shares voting as a single class, (ii) with respect to Proposal 1(B), the affirmative vote of the holders of a 1940 Act Majority of BLE VMTP Shares
voting as a separate class, and