Company: BLE
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230217
Chunk: 35

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-10-03
Form: N-CSR
Chunk 35
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 of the VMTPShares, and by multiplying the results by                                                                                                                                                                                                                                            
 100,000.                                                                                                                                                                                                                                                                                        |
| (k) | Calculated by subtracting the Fund’s total liabilities (not including VMTPShares) from the Fund’s total assets and dividing this by the liquidation value of the VMTPShares, and by multiplyingthe results by 100,000.                                                                          |
| (l) | 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.

94 2025 BlackRock Annual Report to Shareholders

Notes to Financial Statements

1. ORGANIZATION The following are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as closed-end management investment companies and are referred to herein collectively as the “Funds”, or individually as a “Fund”:

| Fund Name                                          | Herein Referred To As | Organized | DiversificationClassification |
| BlackRock Investment Quality Municipal Trust, Inc. | BKN                   | Maryland  | Diversified                   |
| BlackRock Municipal Income Trust                   | BFK                   | Delaware  | Diversified                   |
| BlackRock Municipal Income Trust II                | BLE                   | Delaware  | Diversified                   |
| BlackRock MuniHoldings Fund, Inc.                  | MHD                   | Maryland  | Diversified                   |
| BlackRock MuniVest Fund, Inc.                      | MVF                   | Maryland  | Diversified                   |
| BlackRock MuniVest Fund II, Inc.                   | MVT                   | Maryland  | Diversified                   |
| BlackRock MuniYield Quality Fund II, Inc.          | MQT                   | Maryland  | Diversified                   |

The Boards of Directors and Boards of Trustees of the Funds are collectively referred to throughout this report as the “Board,” and the directors thereof are collectively referred to throughout this report as “Directors”. The Funds determine and make available for publication the net asset values (“NAVs”) of their Common Shares on a daily basis. On January 20, 2025, the Board approved the