Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 39

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 39
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 | 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 includingVMTPShares and TOBs) from the Fund’s total assets and dividing this by the amount of TOBs, and by multiplying the results by 1,000. |

See notes to financial statements.

Financial Highlights 89

Financial Highlights (continued) (For a share outstanding throughout each period)

|                                                                                                                                                   |                                 MHD |                    |                    |                                |                    |                    |                    |
|                                                                                                                                                   | Six Months Ended01/31/25(unaudited) | Year Ended07/31/24 | Year Ended07/31/23 | Period from05/01/22to 07/31/22 | Year Ended04/30/22 | Year Ended04/30/21 | Year Ended04/30/20 |
| Net asset value, beginning of period                                                                                                              |                              $13.61 |             $13.62 |             $14.35 |                         $14.27 |             $17.30 |             $15.18 |             $16.56 |
| Net investment income(a)                                                                                                                          |                                0.27 |               0.48 |               0.48 |                           0.16 |               0.72 |               0.78 |               0.74 |
| Net realized and unrealized gain (loss)                                                                                                           |                               -0.30 |               0.07 |              -0.69 |                           0.10 |              -3.02 |               2.07 |              -1.36 |
| Net increase (decrease) from investment operations                                                                                                |                               -0.03 |               0.55 |              -0.21 |                           0.26 |              -2.30 |               2.85 |              -0.62 |
| Distributions to Common Shareholders(b)                                                                                                           |                                     |                    |                    |                                |                    |                    |                    |
| From net investment income                                                                                                                        |                            -0.34)(c |              -0.53 |              -0.50 |                          -0.18 |              -0.73 |              -0.73 |              -0.76 |
| From net realized gain                                                                                                                            |                                   — |                  — |                  — |                              — |