Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 168

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 168
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| Shares Outstanding                    |     |     |                |     |                |                |     |             |             |     |           |                  |
| Common Shares                         |     |     |     43,854,836 |     |                |     52,141,616 |     |             |  -6,206,336 |     |           |       89,790,116 |
| VMTP Shares                           |     |     |          1,541 |     |                |          2,140 |     |             |           - |     |           |            3,681 |
| NAV per Common Share                  |     | $   |          10.39 |     | $              |          12.10 |     | $           |           - |     | $         |            12.10 |
| Liquidation Preference per VMTP Share |     | $   |     100,000.00 |     | $              |     100,000.00 |     | $           |           - |     | $         |       100,000.00 |

| (1) | Based on the number of outstanding common shares as of July 31, 2025. |

| (2) | Reflects non-recurring aggregate estimated Reorganization expenses of                                                                                                                                                                             
 $610,000, of which $371,000 was attributable to BFK, and $239,000 was attributable to the Acquiring Fund. The actual costs associated with the Reorganizations may be more or less than the estimated costs discussed herein. These costs will be 
 amortized over the life of the VMTP Shares by the Combined Fund.                                                                                                                                                                                  |

| (3) | Reflects adjustments due to differences in per common share NAV. |

Capitalization of MUE and MHD as of July 31, 2025 and pro forma capitalization of the Combined Fund assuming only the MUE Reorganization is consummated (unaudited)

| Net Assets Attributable to:           |     | MUE |                |     | Acquiring Fund 
 (MHD)          |                |     | Adjustments |             |   |     | Pro forma 
 Combined  
 Fund (MUE 
 into MHD) |                |
|:--------------------------------------|:----|:----|---------------:|:----|:---------------|---------------:|:----|:------------|------------:|:--|:----|:----------|---------------:|
| Common Shares